# EDGAR Filing Document

**Accession Number:** 0000857156
**File Stem:** 0001193125-25-194747
**Filing Date:** 2025-9
**Character Count:** 1311434
**Document Hash:** f4294ba67c752d0034917d74b78f791e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-194747.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001193125-25-194747

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 77

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**EFFECTIVENESS DATE**: 20250903

**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

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05954
- **FILM NUMBER:** 251288397

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCHWAB 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-CSRS

------

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------

FORM N-CSRS

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)

------

211 Main Street, San Francisco, California 94105

(Address of principal executive offices) (Zip code)

------

Omar Aguilar

The Charles Schwab Family of Funds

211 Main Street, San Francisco, California 94105

(Name and address of agent for service)

------

Registrant's telephone number, including area code: (415) 636-7000

Date of fiscal year end: December 31

Date of reporting period: June 30, 2025

------

Item 1: Report(s) to Shareholders.

------

![](g17937g2img944b840f1.jpg)

**Semiannual Report \|** June 30, 2025

Schwab Prime Advantage Money Fund, Investor Shares

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

, Investor Shares)

**Ticker Symbol: SWVXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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\* | $17 | &nbsp;&nbsp;0.34%<br>\*\*<br>|

---

\*

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

\*\*

Annualized.

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $371120 |
| Number of Holdings | 762 |
| Weighted Average Maturity | 21 Days |
| Seven-Day Yield (with waivers) | 4.16% |
| Seven-Day Yield (without waivers) | 4.16% |
| Seven-Day Effective Yield (with waivers) | 4.25% |

---

Portfolio Composition By Effective Maturity % of Investments

![](g17937g2img6a6960c52.jpg)

Portfolio Composition by Security Type % of Investments

![](g17937g2imgcf941d683.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 \| Semiannual Report

REG124741-01 00315757

------

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, Investor Shares \| Semiannual Report

------

![](g17937g3img76ecb12c1.jpg)

Semiannual Report \| June 30, 2025

Schwab Prime Advantage Money Fund, Ultra Shares

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

, Ultra Shares)

**Ticker Symbol: SNAXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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, Ultra Shares\* | $10 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $371120 |
| Number of Holdings | 762 |
| Weighted Average Maturity | 21 Days |
| Seven-Day Yield (with waivers) | 4.31% |
| Seven-Day Yield (without waivers) | 4.31% |
| Seven-Day Effective Yield (with waivers) | 4.41% |

---

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g3img9abdc9fd2.jpg)

Portfolio Composition by Security Type % of Investments

![](g17937g3imgcb05db423.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 \| Semiannual Report

REG124742-01 00315758

------

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

.

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

------

![](g17937g4img766542cd1.jpg)

Semiannual Report \| June 30, 2025

Schwab Government Money Fund, Sweep Shares

**Ticker Symbol: SWGXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Government Money Fund, Sweep Shares\* | $22 | &nbsp;&nbsp; 0.44%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $81085 |
| Number of Holdings | 297 |
| Weighted Average Maturity | 35 Days |
| Seven-Day Yield (with waivers) | 3.96% |
| Seven-Day Yield (without waivers) | 3.95% |
| Seven-Day Effective Yield (with waivers) | 4.04% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g4img9e552ee12.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g4imgdf14986d3.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 \| Semiannual Report

REG124723-01 00315765

------

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

.

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

------

![](g17937g5img1ea93cf21.jpg)

Semiannual Report \| June 30, 2025

Schwab Government Money Fund, Investor Shares

**Ticker Symbol: SNVXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Government Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $81085 |
| Number of Holdings | 297 |
| Weighted Average Maturity | 35 Days |
| Seven-Day Yield (with waivers) | 4.06% |
| Seven-Day Yield (without waivers) | 4.05% |
| Seven-Day Effective Yield (with waivers) | 4.14% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g5imge0eeafe82.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g5img48a75e8b3.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 \| Semiannual Report

REG124722-01 00315763

------

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

.

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

------

![](g17937g6imgb85dfe301.jpg)

Semiannual Report \| June 30, 2025

Schwab Government Money Fund, Ultra Shares

**Ticker Symbol: SGUXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Government Money Fund, Ultra Shares\* | $10 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $81085 |
| Number of Holdings | 297 |
| Weighted Average Maturity | 35 Days |
| Seven-Day Yield (with waivers) | 4.21% |
| Seven-Day Yield (without waivers) | 4.20% |
| Seven-Day Effective Yield (with waivers) | 4.30% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g6imgc99d98f22.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g6img17072ed83.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 \| Semiannual Report

REG124724-01 00315767

------

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

.

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

------

![](g17937g7img72fc3d6c1.jpg)

Semiannual Report \| June 30, 2025

Schwab U.S. Treasury Money Fund, Investor Shares

**Ticker Symbol: SNSXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 U.S. Treasury Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $92451 |
| Number of Holdings | 44 |
| Weighted Average Maturity | 38 Days |
| Seven-Day Yield (with waivers) | 3.89% |
| Seven-Day Yield (without waivers) | 3.88% |
| Seven-Day Effective Yield (with waivers) | 3.96% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g7img9779fa412.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g7imgd8c972923.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 \| Semiannual Report

REG124739-01 00315754

------

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

.

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

------

![](g17937g8img8873a5a41.jpg)

Semiannual Report \| June 30, 2025

Schwab U.S. Treasury Money Fund, Ultra Shares

**Ticker Symbol: SUTXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 U.S. Treasury Money Fund, Ultra Shares\* | $10 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $92451 |
| Number of Holdings | 44 |
| Weighted Average Maturity | 38 Days |
| Seven-Day Yield (with waivers) | 4.04% |
| Seven-Day Yield (without waivers) | 4.03% |
| Seven-Day Effective Yield (with waivers) | 4.12% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g8img8524fd282.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g8img00ef74d63.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 \| Semiannual Report

REG124740-01 00315755

------

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

.

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

------

![](g17937g9img1a4e1f0d1.jpg)

Semiannual Report \| June 30, 2025

Schwab Treasury Obligations Money Fund, Investor Shares

**Ticker Symbol: SNOXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Treasury Obligations Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $74269 |
| Number of Holdings | 78 |
| Weighted Average Maturity | 34 Days |
| Seven-Day Yield (with waivers) | 4.03% |
| Seven-Day Yield (without waivers) | 4.02% |
| Seven-Day Effective Yield (with waivers) | 4.11% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g9img34fb55372.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g9img9db389193.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 \| Semiannual Report

REG124736-01 00315750

------

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

.

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

------

![](g17937g10img7aa96fc41.jpg)

Semiannual Report \| June 30, 2025

Schwab Treasury Obligations Money Fund, Ultra Shares

**Ticker Symbol: SCOXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Treasury Obligations Money Fund, Ultra Shares\* | $10 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $74269 |
| Number of Holdings | 78 |
| Weighted Average Maturity | 34 Days |
| Seven-Day Yield (with waivers) | 4.18% |
| Seven-Day Yield (without waivers) | 4.17% |
| Seven-Day Effective Yield (with waivers) | 4.26% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g10imga9248d722.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g10imga0dc84313.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 \| Semiannual Report

REG124738-01 00315751

------

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

.

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

------

![](g17937g11img8f734db01.jpg)

Semiannual Report \| June 30, 2025

Schwab Municipal Money Fund, Investor Shares

**Ticker Symbol: SWTXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Municipal Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $17057 |
| Number of Holdings | 1175 |
| Weighted Average Maturity | 33 Days |
| Seven-Day Yield (with waivers) | 2.29% |
| Seven-Day Yield (without waivers) | 2.29% |
| Seven-Day Effective Yield (with waivers) | 2.32% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g11imgece0dcb72.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g11imgd65564053.jpg)

Largest Holdings by State % of Investments

![](g17937g11img7e0427664.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 \| Semiannual Report

REG124729-01 00315772

------

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

.

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

------

![](g17937g12imgff6a2b121.jpg)

Semiannual Report \| June 30, 2025

Schwab Municipal Money Fund, Ultra Shares

**Ticker Symbol: SWOXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Municipal Money Fund, Ultra Shares\* | $9 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $17057 |
| Number of Holdings | 1175 |
| Weighted Average Maturity | 33 Days |
| Seven-Day Yield (with waivers) | 2.44% |
| Seven-Day Yield (without waivers) | 2.44% |
| Seven-Day Effective Yield (with waivers) | 2.47% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g12img883e07352.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g12imga578e36d3.jpg)

Largest Holdings by State % of Investments

![](g17937g12img5cb57aba4.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 \| Semiannual Report

REG124730-01 00315771

------

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

.

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

------

![](g17937g13imgb06974091.jpg)

Semiannual Report \| June 30, 2025

Schwab AMT Tax-Free Money Fund, Investor Shares

**Ticker Symbol: SWWXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 AMT Tax-Free Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $3543 |
| Number of Holdings | 560 |
| Weighted Average Maturity | 32 Days |
| Seven-Day Yield (with waivers) | 2.32% |
| Seven-Day Yield (without waivers) | 2.30% |
| Seven-Day Effective Yield (with waivers) | 2.34% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g13imgcacbdf8a2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g13img7639f0e23.jpg)

Largest Holdings by State % of Investments

![](g17937g13imgc816e2024.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 \| Semiannual Report

REG124718-01 00315741

------

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

.

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

------

![](g17937g14img031ea03e1.jpg)

Semiannual Report \| June 30, 2025

Schwab AMT Tax-Free Money Fund, Ultra Shares

**Ticker Symbol: SCTXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 AMT Tax-Free Money Fund, Ultra Shares\* | $9 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $3543 |
| Number of Holdings | 560 |
| Weighted Average Maturity | 32 Days |
| Seven-Day Yield (with waivers) | 2.47% |
| Seven-Day Yield (without waivers) | 2.45% |
| Seven-Day Effective Yield (with waivers) | 2.50% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g14imgdbca84ec2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g14img1e08453f3.jpg)

Largest Holdings by State % of Investments

![](g17937g14imgc25e01be4.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 \| Semiannual Report

REG124719-01 00315743

------

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

.

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

------

![](g17937g15img16c5578c1.jpg)

Semiannual Report \| June 30, 2025

Schwab California Municipal Money Fund, Investor Shares

**Ticker Symbol: SWKXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $9079 |
| Number of Holdings | 467 |
| Weighted Average Maturity | 33 Days |
| Seven-Day Yield (with waivers) | 1.84% |
| Seven-Day Yield (without waivers) | 1.83% |
| Seven-Day Effective Yield (with waivers) | 1.86% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g15imgb1f650f82.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g15imgcfb254a23.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 gua

rantee 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 \| Semiannual Report

REG124720-01 00315745

------

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

.

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

------

![](g17937g16img928693771.jpg)

Semiannual Report \| June 30, 2025

Schwab California Municipal Money Fund, Ultra Shares

**Ticker Symbol: SCAXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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\* | $9 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $9079 |
| Number of Holdings | 467 |
| Weighted Average Maturity | 33 Days |
| Seven-Day Yield (with waivers) | 1.99% |
| Seven-Day Yield (without waivers) | 1.98% |
| Seven-Day Effective Yield (with waivers) | 2.01% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g16img69be79222.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g16img9a04a58d3.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 \| Semiannual Report

REG124721-01 00315747

------

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

.

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

------

![](g17937g17img662372b91.jpg)

Semiannual Report \| June 30, 2025

Schwab New York Municipal Money Fund, Investor Shares

**Ticker Symbol: SWYXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 New York Municipal Money Fund, Investor Shares\* | $17 | &nbsp;&nbsp; 0.34%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $2897 |
| Number of Holdings | 363 |
| Weighted Average Maturity | 31 Days |
| Seven-Day Yield (with waivers) | 2.24% |
| Seven-Day Yield (without waivers) | 2.23% |
| Seven-Day Effective Yield (with waivers) | 2.27% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g17img08cf37172.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g17img4b84c0893.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 \| Semiannual Report

REG124732-01 00315770

------

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

.

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

------

![](g17937g18img25d658ba1.jpg)

Semiannual Report \| June 30, 2025

Schwab New York Municipal Money Fund, Ultra Shares

**Ticker Symbol: SNYXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 2025

(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)

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

&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 New York Municipal Money Fund, Ultra Shares\* | $9 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $2897 |
| Number of Holdings | 363 |
| Weighted Average Maturity | 31 Days |
| Seven-Day Yield (with waivers) | 2.39% |
| Seven-Day Yield (without waivers) | 2.38% |
| Seven-Day Effective Yield (with waivers) | 2.42% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g18imgb5c317372.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g18img4a06c9843.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 \| Semiannual Report

REG124733-01 00315769

------

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

.

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

------

![](g17937g19img4ef8510c1.jpg)

Semiannual Report \| June 30, 2025

Schwab Retirement Government Money Fund

**Ticker Symbol: SNRXX**

------

This semiannual shareholder report contains important information about the fund for the period of January 1, 2025, to June 30,

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 six months ENDED June 30, 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 Retirement Government Money Fund\* | $10 | &nbsp;&nbsp; 0.19%<br> \*\*<br>|

---

\*

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

\*\*

Annualized.

&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) | $2480 |
| Number of Holdings | 273 |
| Weighted Average Maturity | 35 Days |
| Seven-Day Yield (with waivers) | 4.22% |
| Seven-Day Yield (without waivers) | 4.20% |
| Seven-Day Effective Yield (with waivers) | 4.30% |

---

Portfolio Composition by Security Type % of Investments

![](g17937g19img7bef2f3a2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g17937g19img91227e893.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 \| Semiannual Report

REG124734-01 00315768

------

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

.

2 Schwab Retirement Government Money Fund \| Semiannual Report

------

#### Item 2: Code of Ethics.
Not applicable to this semi-annual report.

#### Item 3: Audit Committee Financial Expert.
Not applicable to this semi-annual report.

#### Item 4: Principal Accountant Fees and Services.
Not applicable to this semi-annual report.

#### Item 5: Audit Committee of Listed Registrants.
Not applicable to this semi-annual report.

#### 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)](g76466img206a04c31.jpg)

**Semiannual Holdings and Financial Statements** \| June 30, 2025

Schwab Prime Advantage Money Fund

------

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

------

**In This Report**

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

---

| | |
|:---|:---|
| **[Item 7 - Financial Statements and Financial Highlights for Open-End](#xx_4f2f3b47-9297-478a-a943-d081d279b9eb_1)**<br> **[Management Investment Companies](#xx_4f2f3b47-9297-478a-a943-d081d279b9eb_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_4f2f3b47-9297-478a-a943-d081d279b9eb_1) | 2 |
| [Financial Notes](#xx_fa8e77a4-bf70-4b43-8ef0-5f0bfcd20fa2_1) | 36 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_335a4210-5485-4b70-bea9-025f5504ac73_1)**<br> **[Management Investment Companies](#xx_335a4210-5485-4b70-bea9-025f5504ac73_1)**<br>| 42 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_32afe1b3-aa35-4793-ac77-691c6897f876_1)**<br> **[Companies](#xx_32afe1b3-aa35-4793-ac77-691c6897f876_1)**<br>| 43 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_f5ccc4b7-b319-4983-97db-cea94e8caaeb_1)**<br> **[Management Investment Companies](#xx_f5ccc4b7-b319-4983-97db-cea94e8caaeb_1)**<br>| 44 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_0220e326-e081-4f83-b6ba-012c9cb6359f_1)**<br> **[Contract](#xx_0220e326-e081-4f83-b6ba-012c9cb6359f_1)** <br>|  |
| [Investment Advisory Agreement Approval](#xx_0220e326-e081-4f83-b6ba-012c9cb6359f_1) | 45  |

---

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

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

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**1**

------

Schwab Prime Advantage Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.08 %<sup>4</sup><br>| 5.12<br> %<br>| 5.03<br> %<br>| 1.54<br> %<br>| 0.04 %<sup>3</sup><br>| 0.44<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>6,7</sup><br>| 0.11 %<sup>7</sup><br>| 0.28 %<sup>7,8</sup><br>|
| Total expenses | 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>6</sup><br>| 0.35<br> %<br>| 0.41<br> %<br>|
| Net investment income (loss) | 4.17 %<sup>5</sup><br>| 4.99<br> %<br>| 4.96<br> %<br>| 1.97<br> %<br>| 0.04<br> %<br>| 0.47<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $240562 | &nbsp;&nbsp; $218570 | &nbsp;&nbsp; $169906 | &nbsp;&nbsp; $94290 | &nbsp;&nbsp; $42245 | &nbsp;&nbsp; $56419 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>8</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**2**Schwab Prime Advantage Money Fund \| Semiannual 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>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>| 0.01 |
| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>| 0.01 |
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>| &nbsp;&nbsp; (0.01)<br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.01)<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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.16 %<sup>4</sup><br>| 5.28<br> %<br>| 5.18<br> %<br>| 1.66<br> %<br>| 0.04 %<sup>3</sup><br>| 0.53<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>6,7</sup><br>| 0.11 %<sup>7</sup><br>| 0.18 %<sup>7,8</sup><br>|
| Total expenses | 0.20 %<sup>5</sup><br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>6</sup><br>| 0.20<br> %<br>| 0.26<br> %<br>|
| Net investment income (loss) | 4.32 %<sup>5</sup><br>| 5.14<br> %<br>| 5.08<br> %<br>| 2.09<br> %<br>| 0.04<br> %<br>| 0.56<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $130558 | &nbsp;&nbsp; $118180 | &nbsp;&nbsp; $95499 | &nbsp;&nbsp; $69065 | &nbsp;&nbsp; $33078 | &nbsp;&nbsp; $37882 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>8</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**3**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 23.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 23.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 23.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 23.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 23.4% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 23.4% OF NET ASSETS |
| **BANK OF AMERICA NA** |  |  |  |  |  |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 440000000 | &nbsp;&nbsp; 440000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/24/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/26/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &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; 4.75% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 473000000 | &nbsp;&nbsp; 473000000 |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.80% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.43%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &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; 4.73% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.37%)<br> *(a)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/09/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.34%)<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **BANK OF MONTREAL (CHICAGO BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **BANK OF MONTREAL (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **BANK OF NOVA SCOTIA (HOUSTON BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
| **BANK OF NOVA SCOTIA (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1500000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 299000000 | &nbsp;&nbsp; 299000000 |
| **BARCLAYS BANK PLC (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/24/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 346000000 | &nbsp;&nbsp; 346000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 368000000 | &nbsp;&nbsp; 368000000 |

---

*See financial notes*

**4**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 332000000 | &nbsp;&nbsp; 332000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **BAYERISCHE LANDESBANK (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **BNP PARIBAS (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 238000000 | &nbsp;&nbsp; 238000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 139000000 | &nbsp;&nbsp; 139000000 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 204000000 | &nbsp;&nbsp; 204000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 419000000 | &nbsp;&nbsp; 419000000 |
| <br>(SOFR + 0.36%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **CITIBANK (NEW YORK STATE)** |  |  |  |  |  |
| (SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 520000000 | &nbsp;&nbsp; 520000000 |
| **CITIBANK NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 10/22/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 675000000 | &nbsp;&nbsp; 675000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/24/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/23/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.39%)<br> *(a)* | &nbsp;&nbsp; 4.79% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/26/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **COMMERZBANK AG (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 315000000 | &nbsp;&nbsp; 315000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1530000000 | &nbsp;&nbsp; 1530000000 |
| **COOPERATIEVE RABOBANK UA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 10/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &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 |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW** <br> **YORK BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 360000000 | &nbsp;&nbsp; 360000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 461000000 | &nbsp;&nbsp; 461000000 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 599100000 | &nbsp;&nbsp; 599100000 |
| **CREDIT AGRICOLE SA (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 211000000 | &nbsp;&nbsp; 211000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 718000000 | &nbsp;&nbsp; 718000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 1160000000 | &nbsp;&nbsp; 1160000000 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**5**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 345000000 | &nbsp;&nbsp; 345000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 893000000 | &nbsp;&nbsp; 893000000 |
| **DNB BANK ASA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1850000000 | &nbsp;&nbsp; 1850000000 |
| **MITSUBISHI UFJ TRUST AND BANKING CORP (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 296000000 | &nbsp;&nbsp; 296000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 345000000 | &nbsp;&nbsp; 345000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 775000000 | &nbsp;&nbsp; 775000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 595000000 | &nbsp;&nbsp; 595000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 426000000 | &nbsp;&nbsp; 426000000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 438000000 | &nbsp;&nbsp; 438000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 480000000 | &nbsp;&nbsp; 480000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 245000000 | &nbsp;&nbsp; 245000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/19/25 | &nbsp;&nbsp; 44000000 | &nbsp;&nbsp; 44000000 |
| **MIZUHO BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 155000000 | &nbsp;&nbsp; 155000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 204000000 | &nbsp;&nbsp; 204000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 63000000 | &nbsp;&nbsp; 63000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 762110000 | &nbsp;&nbsp; 762110000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 414000000 | &nbsp;&nbsp; 414000000 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/25/25 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 155000000 | &nbsp;&nbsp; 155000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 185000000 | &nbsp;&nbsp; 185000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 532000000 | &nbsp;&nbsp; 532000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 463000000 | &nbsp;&nbsp; 463000000 |
| **MUFG BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 73000000 | &nbsp;&nbsp; 73000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 340000000 | &nbsp;&nbsp; 340000000 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 91000000 | &nbsp;&nbsp; 91000000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 166000000 | &nbsp;&nbsp; 166000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 104000000 | &nbsp;&nbsp; 104000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/08/25 | &nbsp;&nbsp; 354000000 | &nbsp;&nbsp; 354000000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 586000000 | &nbsp;&nbsp; 586000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 450000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 228000000 | &nbsp;&nbsp; 228000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 260000000 | &nbsp;&nbsp; 260000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/25/25 | &nbsp;&nbsp; 277000000 | &nbsp;&nbsp; 277000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 365000000 | &nbsp;&nbsp; 365000000 |

---

*See financial notes*

**6**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NATIONAL AUSTRALIA BANK LTD (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NATIXIS (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 1400000000 | &nbsp;&nbsp; 1400000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/17/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 416000000 | &nbsp;&nbsp; 416000000 |
| **NORDEA BANK ABP (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 298000000 | &nbsp;&nbsp; 298000000 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **ROYAL BANK OF CANADA (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 12300000 | &nbsp;&nbsp; 12298593 |
| **SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/21/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 711000000 | &nbsp;&nbsp; 711000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 875000000 | &nbsp;&nbsp; 875000000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 569000000 | &nbsp;&nbsp; 569000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 425000000 | &nbsp;&nbsp; 425000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.34%)<br> *(a)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.34%)<br> *(a)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 165000000 | &nbsp;&nbsp; 165000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**7**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/25/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 260000000 | &nbsp;&nbsp; 260000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 316000000 | &nbsp;&nbsp; 316000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 105000000 | &nbsp;&nbsp; 105000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 380000000 | &nbsp;&nbsp; 380000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 297000000 | &nbsp;&nbsp; 297000000 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| **SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
|  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **SWEDBANK AB (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **TORONTO-DOMINION BANK (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.40% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 475000000 | &nbsp;&nbsp; 475000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.72% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32000000 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 120780000 | &nbsp;&nbsp; 120780000 |
|  | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 191855000 | &nbsp;&nbsp; 191855000 |
|  | &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; 4.71% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(SOFR + 0.32%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| <br>(SOFR + 0.31%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &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; 4.70% | &nbsp;&nbsp; 07/01/25 | &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; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 28790000 | &nbsp;&nbsp; 28790000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 07/01/25 | &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 |
| **TRUIST BANK** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 230000000 | &nbsp;&nbsp; 230000000 |
|  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 1330000000 | &nbsp;&nbsp; 1330000000 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |

---

*See financial notes*

**8**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 900000000 | &nbsp;&nbsp; 900000000 |
| **UBS AG (STAMFORD BRANCH)** |  |  |  |  |  |
| (SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **WELLS FARGO BANK NA** |  |  |  |  |  |
| (SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **Total Certificates Of Deposit** <br>**(Cost $86,700,933,593)**<br>|  |  |  |  | &nbsp;&nbsp; **86700933593** |
| **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 9.4% OF NET ASSETS |
| **ANTALIS SA** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49987833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 66630000 | &nbsp;&nbsp; 66409122 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49791750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 220100000 | &nbsp;&nbsp; 218393675 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99212445 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49600069 |
| **ATLANTIC ASSET SECURITIZATION LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 153600000 | &nbsp;&nbsp; 152832043 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49408569 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98719583 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 12/17/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 48976611 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 190000000 | &nbsp;&nbsp; 186088111 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 97863194 |
| **BARCLAYS BANK PLC US COLLATERALIZED CP NOTES SERIES** <br> **2010-1**<br>|  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 102000000 | &nbsp;&nbsp; 101912733 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 295000000 | &nbsp;&nbsp; 294419178 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299266667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299003250 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199073222 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99413333 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/24/25 | &nbsp;&nbsp; 135000000 | &nbsp;&nbsp; 135000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.35%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/24/25 | &nbsp;&nbsp; 171000000 | &nbsp;&nbsp; 171000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197086667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp; 137836767 |
| <br>(SOFR + 0.26%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 345000000 | &nbsp;&nbsp; 345000000 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 230000000 | &nbsp;&nbsp; 230000000 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 450000000 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/02/25 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp; 120000000 |
| **BARTON CAPITAL SA** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99742167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99729889 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 29150000 | &nbsp;&nbsp; 29064105 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99705333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99452500 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**9**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49695833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49651667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99205556 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49574167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49568083 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49469542 |
| **BEDFORD ROW FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99927333 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99382333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148584583 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99044444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/22/25 | &nbsp;&nbsp; 130000000 | &nbsp;&nbsp; 128705200 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 119000000 | &nbsp;&nbsp; 119000000 |
| <br>(SOFR + 0.25%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 97733333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 195064945 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **BENNINGTON STARK CAPITAL COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 273211000 | &nbsp;&nbsp; 273177987 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 8817000 | &nbsp;&nbsp; 8769369 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 273072000 | &nbsp;&nbsp; 271570104 |
| **CABOT TRAIL FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 149800000 | &nbsp;&nbsp; 149617743 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 99000000 | &nbsp;&nbsp; 98808160 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 246000000 | &nbsp;&nbsp; 245308467 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 88000000 | &nbsp;&nbsp; 87745387 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54794926 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74684271 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99506861 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 29794325 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49655625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 89355425 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 82000000 | &nbsp;&nbsp; 81311063 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148551667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148434000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 68988306 |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 97690667 |
| **CAFCO LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 29100000 | &nbsp;&nbsp; 29100000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 109918050 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99732333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99711333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49835750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124576111 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99648778 |

---

*See financial notes*

**10**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99373111 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49662444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99065306 |
| **CHARIOT FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 175000000 |
| <br>(SOFR + 0.33%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 240000000 | &nbsp;&nbsp; 240000000 |
| <br>(SOFR + 0.38%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.38%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/26/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.38%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/02/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.26%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/03/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 225000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 131000000 | &nbsp;&nbsp; 131000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 80000000 |
| **CHARTA LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 74400000 | &nbsp;&nbsp; 74400000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49962750 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99902667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99732333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99711333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49830444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99648778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74567000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99336944 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49662444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49643542 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74462854 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99144000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99036639 |
| **CHESHAM FIN LTD / CHESHAM FIN LLC SERIES 3** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 355000000 | &nbsp;&nbsp; 355000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **CHESHAM FIN LTD / CHESHAM FIN LLC SERIES 4** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 280000000 | &nbsp;&nbsp; 280000000 |
| **COLLATERALIZED COMMERCIAL PAPER V CO LLC** |  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)(b)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.24%)<br> *(a)(b)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.33%)<br> *(a)(b)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.32%)<br> *(a)(b)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 435000000 | &nbsp;&nbsp; 435000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 365000000 | &nbsp;&nbsp; 365000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 263000000 | &nbsp;&nbsp; 263000000 |
| <br>(SOFR + 0.38%)<br> *(a)(b)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 194000000 | &nbsp;&nbsp; 194000000 |
| <br>(SOFR + 0.33%)<br> *(a)(b)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 245000000 | &nbsp;&nbsp; 245000000 |
| <br>(SOFR + 0.29%)<br> *(a)(b)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/10/26 | &nbsp;&nbsp; 130000000 | &nbsp;&nbsp; 130000000 |
| <br>*(b)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**11**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **CONCORD MINUTEMEN CAPITAL CO LLC SERIES C** |  |  |  |  |  |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| <br>(SOFR + 0.25%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| <br>(SOFR + 0.25%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 65000000 |
| <br>(SOFR + 0.25%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 86000000 | &nbsp;&nbsp; 86000000 |
| **CRC FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 70200000 | &nbsp;&nbsp; 70200000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24981375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49866778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49855667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74745667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74502708 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148987333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124108854 |
| **FAIRWAY FINANCE CO LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54939638 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/23/25 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 64104625 |
| **FALCON ASSET FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 69000000 | &nbsp;&nbsp; 69000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 292000000 | &nbsp;&nbsp; 292000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/05/26 | &nbsp;&nbsp; 123900000 | &nbsp;&nbsp; 123900000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/07/26 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.37%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/06/26 | &nbsp;&nbsp; 224390000 | &nbsp;&nbsp; 224390000 |
| **GOTHAM FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49834625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 498179167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99574167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99538722 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124209167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99046667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198068889 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp; 138634222 |
| **GREAT BEAR FUNDING LLC / GREAT BEAR FUNDING DAC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 561000000 | &nbsp;&nbsp; 561000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 283000000 | &nbsp;&nbsp; 282965804 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99975833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 316000000 | &nbsp;&nbsp; 315770900 |
| **LIBERTY STREET FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124443715 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198956056 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 223439625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248235833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99305111 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198445333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/25/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49484000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 99730000 | &nbsp;&nbsp; 98652916 |

---

*See financial notes*

**12**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98908000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 73389854 |
| **LION BAY FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 136000000 | &nbsp;&nbsp; 136000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149981875 |
| **LMA AMERICAS LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49708000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49695833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 27550000 | &nbsp;&nbsp; 27284908 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 09/22/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49500847 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49487833 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49402472 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49396375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 33500000 | &nbsp;&nbsp; 33090556 |
| **MAINBEACH FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 392000000 | &nbsp;&nbsp; 392000000 |
| **MANHATTAN ASSET FUNDING COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149379500 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49726250 |
| **MATCHPOINT FINANCE PLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 132600000 | &nbsp;&nbsp; 132600000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 61847756 |
| **METLIFE SHORT TERM FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/29/26 | &nbsp;&nbsp; 166098000 | &nbsp;&nbsp; 161980062 |
| **NIEUW AMSTERDAM RECEIVABLES CORPORATION BV** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 165000000 | &nbsp;&nbsp; 162567625 |
| **OLD LINE FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49915222 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199445444 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198112778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98132333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 97733333 |
| **PARADELLE FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149879542 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp; 119574667 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 180000000 | &nbsp;&nbsp; 180000000 |
| <br>(SOFR + 0.26%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &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; 141557740 |
| **PODIUM FUNDING TRUST** |  |  |  |  |  |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 89000000 | &nbsp;&nbsp; 88825956 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99754444 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 107000000 | &nbsp;&nbsp; 106724118 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149326292 |
| <br>(SOFR + 0.22%)<br> *(a)(b)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 124000000 | &nbsp;&nbsp; 124000000 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 39635200 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98893444 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**13**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 240000000 | &nbsp;&nbsp; 237315400 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 10/28/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 73921563 |
| <br>(SOFR + 0.21%)<br> *(a)(b)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.22%)<br> *(a)(b)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 252000000 | &nbsp;&nbsp; 252000000 |
| <br>*(b)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; 73000000 | &nbsp;&nbsp; 71488170 |
| **PRICOA SHORT TERM FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 78000000 | &nbsp;&nbsp; 76821875 |
| **RIDGEFIELD FUNDING COMPANY LLC** |  |  |  |  |  |
| <br>(SOFR + 0.18%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
| <br>(SOFR + 0.18%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 310000000 | &nbsp;&nbsp; 310000000 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/25/25 | &nbsp;&nbsp; 104000000 | &nbsp;&nbsp; 104000000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 342000000 | &nbsp;&nbsp; 338306400 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 11/25/25 | &nbsp;&nbsp; 81071000 | &nbsp;&nbsp; 79617735 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 74000000 | &nbsp;&nbsp; 74000000 |
| **SHEFFIELD RECEIVABLES COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124677708 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 131000000 | &nbsp;&nbsp; 130630071 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199273333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248932986 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 109409789 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99416000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99217778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198343333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74275833 |
| **STARBIRD FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 174681354 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 94743394 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298655667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199004611 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 69643117 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197299000 |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 205000000 | &nbsp;&nbsp; 205000000 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **THUNDER BAY FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 08/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99388000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198112778 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 10/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98625667 |
| **VERSAILLES COMMERCIAL PAPER LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 109880375 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99879167 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99367333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198442667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 186000000 | &nbsp;&nbsp; 183772133 |
| **VICTORY RECEIVABLES CORP** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 44000000 | &nbsp;&nbsp; 43989171 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 190000000 | &nbsp;&nbsp; 189348300 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298686000 |

---

*See financial notes*

**14**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99367333 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198606667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148812000 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247616667 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 116000000 | &nbsp;&nbsp; 114879956 |
| **Total Asset-Backed Commercial Paper** <br>**(Cost $34,854,276,119)**<br>|  |  |  |  | &nbsp;&nbsp; **34854276119** |
| **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 11.6% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD** |  |  |  |  |  |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 185000000 | &nbsp;&nbsp; 185000000 |
| <br>(SOFR + 0.14%)<br> *(a)(c)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **BANK OF NOVA SCOTIA** |  |  |  |  |  |
| (SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **BARCLAYS BANK UK PLC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 549933542 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 324921458 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 207000000 | &nbsp;&nbsp; 206849925 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499637500 |
| **BNP PARIBAS SA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 297462000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346969486 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 435000000 | &nbsp;&nbsp; 435000000 |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149560000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 342000000 | &nbsp;&nbsp; 342000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 695634722 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248066250 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247790000 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.17%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 83000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493370833 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/03/25 | &nbsp;&nbsp; 280000000 | &nbsp;&nbsp; 280000000 |
| <br>(SOFR + 0.23%)<br> *(a)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 488516667 |
| <br>(SOFR + 0.41%)<br> *(a)(c)* | &nbsp;&nbsp; 4.81% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/26/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.40%)<br> *(a)(c)* | &nbsp;&nbsp; 4.80% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/04/26 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| **BPCE SA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299164333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 539000000 | &nbsp;&nbsp; 536775427 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 235000000 | &nbsp;&nbsp; 234003861 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 560000000 | &nbsp;&nbsp; 557558400 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 60732820 |
| <br>(SOFR + 0.16%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
| <br>(SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**15**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 189000000 | &nbsp;&nbsp; 187371082 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **COMMONWEALTH BANK OF AUSTRALIA** |  |  |  |  |  |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **DBS BANK LTD** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 212800000 | &nbsp;&nbsp; 212774287 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 43500000 | &nbsp;&nbsp; 43320055 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298506917 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197878167 |
| **DNB BANK ASA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199686556 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 199000000 | &nbsp;&nbsp; 197992397 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 199265000 | &nbsp;&nbsp; 198020147 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 220000000 | &nbsp;&nbsp; 218559764 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 124100000 | &nbsp;&nbsp; 123271839 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 245148333 |
| **DZ BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1370000000 | &nbsp;&nbsp; 1370000000 |
| **FEDERATION DES CAISSES DESJARDINS DU QUEBEC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99927667 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99493667 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298033750 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 297895667 |
| **ING US FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124697917 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249365625 |
| <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 248255972 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/28/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| <br>(SOFR + 0.37%)<br> *(a)(c)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 630000000 | &nbsp;&nbsp; 630000000 |
| **MIZUHO BANK LTD (SINGAPORE BRANCH)** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 397979611 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496818611 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496550556 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496390347 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 322463556 |

---

*See financial notes*

**16**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **NATIONAL AUSTRALIA BANK LTD** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 10/27/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 197181111 |
| **NATIONWIDE BUILDING SOCIETY** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99316333 |
| **NATIXIS (NEW YORK BRANCH)** |  |  |  |  |  |
| *(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 470000000 | &nbsp;&nbsp; 468003153 |
| **NRW BANK** |  |  |  |  |  |
| *(c)(d)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 09/22/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 296977417 |
| **OVERSEA-CHINESE BANKING CORPORATION LTD** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149326292 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298506917 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298470500 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 288000000 | &nbsp;&nbsp; 286279120 |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 145000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/21/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199990968 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 824700000 | &nbsp;&nbsp; 815978797 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 395355889 |
| <br>(SOFR + 0.35%)<br> *(a)(c)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 675000000 | &nbsp;&nbsp; 675000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 974170000 |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/16/26 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **SANTANDER UK PLC** |  |  |  |  |  |
| <br>*(d)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 597739583 |
| <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 992055556 |
| **SKANDINAVISKA ENSKILDA BANKEN AB** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499093229 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 193713222 |
| **SOCIETE GENERALE SA** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.54% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 498133333 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99556000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 241750000 | &nbsp;&nbsp; 240093475 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198605083 |
| **SUMITOMO MITSUI TRUST BANK LTD (SINGAPORE BRANCH)** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 108755000 | &nbsp;&nbsp; 108380279 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19215080 |
| **SVENSKA HANDELSBANKEN AB** |  |  |  |  |  |
| <br>(SOFR + 0.14%)<br> *(a)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 293569333 |
| **SWEDBANK AB** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 398000000 | &nbsp;&nbsp; 395980150 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99345347 |
| <br>(SOFR + 0.16%)<br> *(a)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.15%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**17**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99074833 |
| <br>(SOFR + 0.16%)<br> *(a)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 244657986 |
| **TORONTO-DOMINION BANK/THE** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 680500000 | &nbsp;&nbsp; 672371805 |
| <br>(EFFR + 0.45%)<br> *(a)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 822000000 | &nbsp;&nbsp; 822000000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/25/26 | &nbsp;&nbsp; 560000000 | &nbsp;&nbsp; 560000000 |
| **UBS AG (LONDON BRANCH)** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 98700000 | &nbsp;&nbsp; 98013953 |
| <br>(SOFR + 0.29%)<br> *(a)(c)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.23%)<br> *(a)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/26/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.24%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/02/26 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **UNITED OVERSEAS BANK LTD** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/27/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **Total Financial Company Commercial Paper** <br>**(Cost $43,143,504,458)**<br>|  |  |  |  | &nbsp;&nbsp; **43143504458** |
| **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.8% OF NET ASSETS |
| **AUTOMATIC DATA PROCESSING INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 770000000 | &nbsp;&nbsp; 769907172 |
| **PHILIP MORRIS INTERNATIONAL INC** |  |  |  |  |  |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499939584 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99975833 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 143000000 | &nbsp;&nbsp; 142896325 |
| <br>*(c)(d)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 274800625 |
| **TOTALENERGIES CAPITAL SA** |  |  |  |  |  |
| *(b)(c)(d)* | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 512300000 | &nbsp;&nbsp; 505568378 |
| **TOYOTA CREDIT CANADA INC** |  |  |  |  |  |
| <br>*(d)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49657778 |
| <br>*(d)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49610625 |
| **Total Non-Financial Company Commercial Paper** <br>**(Cost $3,042,356,320)**<br>|  |  |  |  | &nbsp;&nbsp; **3042356320** |
| **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 9.4% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (CAYMAN** <br> **ISLANDS BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2400000000 | &nbsp;&nbsp; 2400000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1800000000 | &nbsp;&nbsp; 1800000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 3200000000 | &nbsp;&nbsp; 3200000000 |

---

*See financial notes*

**18**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Issuer | Footnotes | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON** <br> **BRANCH)**<br>|  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| **BANCO SANTANDER SA (NEW YORK BRANCH)** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3900000000 | &nbsp;&nbsp; 3900000000 |
| **COOPERATIEVE RABOBANK UA (NEW YORK BRANCH)** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **DBS BANK LTD** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **ING BANK NV** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2910000000 | &nbsp;&nbsp; 2910000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 1190000000 | &nbsp;&nbsp; 1190000000 |
|  |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1130000000 | &nbsp;&nbsp; 1130000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1595000000 | &nbsp;&nbsp; 1595000000 |
| **LANDESBANK HESSEN THUERINGEN GIROZENTRALE (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **NATIONAL BANK OF CANADA** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NORDDEUTSCHE LANDESBANK GIROZENTRALE (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 470000000 | &nbsp;&nbsp; 470000000 |
|  |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 455000000 | &nbsp;&nbsp; 455000000 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4250000000 | &nbsp;&nbsp; 4250000000 |
| **SANTANDER UK PLC** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 1085000000 | &nbsp;&nbsp; 1085000000 |
| **SKANDINAVISKA ENSKILDA BANKEN AB (NEW YORK BRANCH)** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4500000000 | &nbsp;&nbsp; 4500000000 |
|  |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| **Total Non-Negotiable Time Deposits** <br>**(Cost $34,985,000,000)**<br>|  |  |  |  |  | &nbsp;&nbsp; **34985000000** |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**19**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **OTHER INSTRUMENTS** 0.4% OF NET ASSETS | **OTHER INSTRUMENTS** 0.4% OF NET ASSETS | **OTHER INSTRUMENTS** 0.4% OF NET ASSETS | **OTHER INSTRUMENTS** 0.4% OF NET ASSETS | **OTHER INSTRUMENTS** 0.4% OF NET ASSETS | **OTHER INSTRUMENTS** 0.4% OF NET ASSETS |
| **BANK OF AMERICA NA** |  |  |  |  |  |
| <br>(SOFR + 0.31%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 07/01/25 | &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 |
| **Total Other Instruments** <br>**(Cost $1,515,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **1515000000** |
| **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS | **VARIABLE RATE DEMAND NOTES** 0.6% OF NET ASSETS |
| **BRECKENRIDGE TERRACE, LLC** |  |  |  |  |  |
| HOUSING FACILITIES REVENUE NOTES SERIES 1999B <br> (**LOC**: BANK OF AMERICA NA) <br>*(e)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **CALIFORNIA PUBLIC FINANCE AUTH** |  |  |  |  |  |
| <br>RB (ADVENTIST HEALTH) SERIES 2024B (**LOC**: BARCLAYS BANK <br> PLC)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 71000000 |
| <br>RB (ADVENTIST HEALTH) SERIES 2024C (**LOC**: PNC BANK NA)<br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 85000000 |
| **CELLMARK, INC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2018A (**LOC**: SWEDBANK AB)<br> *(e)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.37% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| <br>S/F MORTGAGE BONDS CLASS II SERIES 2023A2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9600000 | &nbsp;&nbsp; 9600000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2019L2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12350000 | &nbsp;&nbsp; 12350000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2023N2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 30490000 | &nbsp;&nbsp; 30490000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2025G2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18380000 | &nbsp;&nbsp; 18380000 |
| <br>S/F MORTGAGE CLASS II RB SERIES 2023F2 (**LIQ**: ROYAL BANK <br> OF CANADA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 24400000 | &nbsp;&nbsp; 24400000 |
| <br>SF MORTGAGE BONDS SERIES 2023M2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| **COOK CNTY** |  |  |  |  |  |
| TAXABLE GO BONDS SERIES 2004D (**LOC**: BARCLAYS BANK <br> PLC) <br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| **CYNTHIA REESE ISSUING TRUST** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2023 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28830000 | &nbsp;&nbsp; 28830000 |

---

*See financial notes*

**20**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **EAGLE CNTY** |  |  |  |  |  |
| <br>RB (BC HOUSING) SERIES 1997B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(e)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| <br>RB (TARNES AT BC) SERIES 1999B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(e)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.37% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 108000000 | &nbsp;&nbsp; 108000000 |
| **GINA RISTOW BELLING 2022** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2024 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31640000 | &nbsp;&nbsp; 31640000 |
| **HARTFORD HEALTHCARE CORP** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES C (**LOC**: JPMORGAN CHASE BANK NA)<br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **ILLINOIS HOUSING DEVELOPMENT AUTH** |  |  |  |  |  |
| <br>HOUSING BONDS SERIES 2017A2 (**LIQ**: FEDERAL HOME LOAN <br> BANKS)<br>*(e)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29850000 | &nbsp;&nbsp; 29850000 |
| **ILLINOIS HSG DEV AUTH 2016** |  |  |  |  |  |
| M/F RB SERIES 2022C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10645000 | &nbsp;&nbsp; 10645000 |
| **ILLINOIS HSG DEVELOPMENT AUTH MARCH 2016** |  |  |  |  |  |
| <br>S/F RB SERIES 2024G (**LIQ**: ROYAL BANK OF CANADA)<br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 56665000 | &nbsp;&nbsp; 56665000 |
| <br>S/F TAXABLE RB SERIES 2023J (**LIQ**: ROYAL BANK OF CANADA)<br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14500000 |
| **IOWA STUDENT LOAN LIQUIDITY CORP** |  |  |  |  |  |
| TAXABLE RB SERIES 20231 (**LOC**: ROYAL BANK OF CANADA) <br> *(e)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50115000 | &nbsp;&nbsp; 50115000 |
| **J MACE MEEKS 2022 INSURANCE TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8940000 | &nbsp;&nbsp; 8940000 |
| **KEEP MEMORY ALIVE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND BONDS SERIES 2013 <br> (**LOC**: PNC BANK NA) <br>*(e)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28700000 | &nbsp;&nbsp; 28700000 |
| **LABCON NORTH AMERICA** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES 2010 (**LOC**: BANK OF MONTREAL)<br> *(e)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp; 1840000 |
| **MACON-BIBB CNTY INDUSTRIAL AUTH** |  |  |  |  |  |
| IDRB SERIES 2015 (**LOC**: BANK OF AMERICA NA) <br> *(e)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1710000 | &nbsp;&nbsp; 1710000 |
| **MASSACHUSETTS HFA** |  |  |  |  |  |
| TAXABLE S/F HOUSING RB SERIES 244 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**21**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **MICHIGAN HOUSING DEVELOPMENT AUTH** |  |  |  |  |  |
| S/F GO BONDS SERIES 2025-1 (**LOC**: ROYAL BANK OF CANADA) <br> *(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.37% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 42998000 | &nbsp;&nbsp; 42998000 |
| **NUVEEN CREDIT STRATEGIES INCOME FUND** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES A (**LOC**: SOCIETE GENERALE SA)<br>*(c)(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.49% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8900000 |
| **PENNSYLVANIA STATE HIGHER EDUCATION ASSISTANCE AGENCY** |  |  |  |  |  |
| TAXABLE EDUCATION LOAN RB SERIES 2024A (**LOC**: BANK OF <br> AMERICA NA) <br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32260000 | &nbsp;&nbsp; 32260000 |
| **PHILIP BRYAN WISE 2022 TRUST IRREVOCABLE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5410000 | &nbsp;&nbsp; 5410000 |
| **RHODE ISLAND HOUSING & MORTGAGE FINANCE CORP** |  |  |  |  |  |
| <br>HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 79T2 <br> (**LIQ**: ROYAL BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23700000 | &nbsp;&nbsp; 23700000 |
| <br>HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 82T2 <br> (**LIQ**: ROYAL BANK OF CANADA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| **SANTA CLARA VALLEY TRANSPORTATION AUTH** |  |  |  |  |  |
| <br>TAXABLE SALES TAX RB SERIES 2025B1 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION)<br>*(e)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12875000 | &nbsp;&nbsp; 12875000 |
| <br>TAXABLE SALES TAX RB SERIES 2025B2 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12875000 | &nbsp;&nbsp; 12875000 |
| **SHIL PARK IRREVOCABLE LIFE INSURANCE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2019 <br> (**LOC**: FEDERAL HOME LOAN BANKS; VISTA BANK TEXAS) <br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16095000 | &nbsp;&nbsp; 16095000 |

---

*See financial notes*

**22**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | &nbsp;&nbsp; Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT** |  |  |  |  |  |
| <br>SUB WATER REFUNDING RB SERIES 2021A (**LIQ**: BANK OF <br> AMERICA NA)<br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 132550000 | &nbsp;&nbsp; 132550000 |
| <br>TAXABLE WATER REFUNDING RB SERIES 2022C1 (**LIQ**: TD <br> BANK NA)<br>*(e)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| <br>TAXABLE WATER REFUNDING RB SERIES 2022C2 (**LIQ**: PNC <br> BANK NA)<br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 38115000 | &nbsp;&nbsp; 38115000 |
| **SRM HAYWARD LLC** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND RB (BELLARA SR LIVING) <br> SERIES 2022A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(e)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp; 11600000 |
| **TENDERFOOT SEASONAL HOUSING, LLC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2000B (**LOC**: WELLS FARGO BANK NA)<br> *(e)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5885000 | &nbsp;&nbsp; 5885000 |
| **TEXAS** |  |  |  |  |  |
| TAXABLE VETERANS BONDS SERIES 2025A (**LIQ**: TEXAS (STATE <br> OF)) <br>*(e)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 78650000 | &nbsp;&nbsp; 78650000 |
| **TRIBOROUGH BRIDGE & TUNNEL AUTH** |  |  |  |  |  |
| <br>GENERAL REFUNDING RB SERIES 2018E (**LOC**: UBS AG)<br> *(e)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 63970000 | &nbsp;&nbsp; 63970000 |
| **VSL PROPERTY HOLDINGS STB LLC** |  |  |  |  |  |
| TAXABLE BONDS SERIES 2024 (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(e)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17390000 | &nbsp;&nbsp; 17390000 |
| **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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32000000 |
| **YAVAPAI CNTY IDA** |  |  |  |  |  |
| <br>TAXABLE RB (DRAKE CEMENT) SERIES 2015 (**LOC**: BANK OF <br> NOVA SCOTIA)<br>*(e)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 51450000 | &nbsp;&nbsp; 51450000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $2,183,133,000)**<br>|  |  |  |  | &nbsp;&nbsp; **2183133000** |

---

&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** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS | **REPURCHASE AGREEMENTS** 40.8% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 15.8%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 611074678 | &nbsp;&nbsp; 611000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $629,330,001, 1.50% - 7.50%, due 01/01/27 - <br> 01/01/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**23**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 203024811 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $207,060,072, 4.88%, due 11/30/25)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200024333 | &nbsp;&nbsp; 200000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $204,024,852, 2.00% - 4.25%, due 05/15/39 - 02/15/54)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 815099611 | &nbsp;&nbsp; 815000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $839,552,600, 1.50% - 6.50%, due 07/01/28 - <br> 05/15/60)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 815099611 | &nbsp;&nbsp; 815000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $853,271,656, 0.13% - 7.04%, <br> due 07/31/27 - 08/20/63)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2119258989 | &nbsp;&nbsp; 2119000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,175,626,695, 0.13% - <br> 5.84%, due 10/25/32 - 02/20/73)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2200268889 | &nbsp;&nbsp; 2200000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,257,442,335, 1.00% - <br> 6.00%, due 09/25/27 - 05/20/74)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 406049622 | &nbsp;&nbsp; 406000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $418,166,600, 0.13% - 7.50%, <br> due 08/15/25 - 04/20/75)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 201124579 | &nbsp;&nbsp; 201100000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $205,122,067, 0.75% - 4.88%, due 04/30/26 - 02/15/27)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 162019800 | &nbsp;&nbsp; 162000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $166,880,394, 4.50% - 5.50%, due 01/01/55 - <br> 02/01/55)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2119258989 | &nbsp;&nbsp; 2119000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,201,211,861, 0.00% - <br> 7.00%, due 07/15/25 - 07/01/55)<br>|  |  |  |  |  |  |

---

*See financial notes*

**24**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6111348549 | &nbsp;&nbsp; 6110600000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $6,293,917,402, 1.50% - <br> 8.00%, due 01/01/27 - 07/01/55)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4230517000 | &nbsp;&nbsp; 4230000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $4,318,933,991, 1.25% - 7.50%, due 03/01/27 - <br> 01/20/72)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 203024755 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $209,090,001, 2.50% - 7.50%, due 12/20/30 - <br> 03/20/65)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7335896500 | &nbsp;&nbsp; 7335000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $7,551,289,001, 0.13% - <br> 8.78%, due 04/15/26 - 03/15/67)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8149995989 | &nbsp;&nbsp; 8149000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $8,391,749,546, 0.13% - <br> 12.30%, due 10/15/26 - 05/15/67)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 815099611 | &nbsp;&nbsp; 815000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $839,450,001, 0.13% - 6.00%, due 12/25/26 - <br> 06/20/55)<br>|  |  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1059129433 | &nbsp;&nbsp; 1059000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,090,770,001, 0.13% - 7.50%, due 09/01/25 - <br> 07/01/55)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 41005011 | &nbsp;&nbsp; 41000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $42,619,074, 0.00% - 7.00%, <br> due 08/12/25 - 09/20/54)<br>|  |  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 407049744 | &nbsp;&nbsp; 407000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $417,777,010, 0.13% - 7.50%, <br> due 10/15/26 - 12/01/61)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1956239067 | &nbsp;&nbsp; 1956000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,012,123,286, 0.00% - <br> 8.00%, due 07/31/25 - 12/15/66)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**25**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/18/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3021289167 | &nbsp;&nbsp; 3000000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $3,097,528,775, 0.00% - <br> 8.50%, due 07/03/25 - 11/20/64)<br>|  |  |  |  |  |  |
| Issued 05/23/25, repurchase date 07/21/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2455217325 | &nbsp;&nbsp; 2442000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,511,953,169, 0.00% - <br> 6.75%, due 07/03/25 - 05/15/55)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1223149478 | &nbsp;&nbsp; 1223000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,259,613,249, 0.63% - <br> 7.50%, due 11/01/26 - 07/01/55)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1630199222 | &nbsp;&nbsp; 1630000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,678,900,000, 1.50% - 2.00%, due 09/01/50 - <br> 12/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8143995256 | &nbsp;&nbsp; 8143000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $8,414,679,222, 0.00% - <br> 7.50%, due 07/31/25 - 06/20/65)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 2034719579 | &nbsp;&nbsp; 2033000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,115,330,709, 0.13% - <br> 7.00%, due 08/15/26 - 06/01/55)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **58627700000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 19.7%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1892230719 | &nbsp;&nbsp; 1892000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,929,840,059, 0.13% - 5.00%, due 09/30/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1576192622 | &nbsp;&nbsp; 1576000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,607,520,065, 0.13% - 4.88%, due 03/31/26 - 05/15/55)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 700085361 | &nbsp;&nbsp; 700000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $714,087,073, 1.25% - 4.63%, due 07/15/26 - 02/15/48)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 75635849 | &nbsp;&nbsp; 75626627 |
| (Collateralized by U.S. Treasury Securities valued at <br> $77,148,584, 0.00% - 4.63%, due 07/24/25 - 08/15/54)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1542188038 | &nbsp;&nbsp; 1542000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,573,031,800, 0.00% - 6.13%, due 07/15/25 - 11/15/52)<br>|  |  |  |  |  |  |

---

*See financial notes*

**26**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2276277546 | &nbsp;&nbsp; 2276000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,321,520,052, 0.13% - 4.63%, due 02/15/41 - 08/15/54)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1226149504 | &nbsp;&nbsp; 1226000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,250,520,016, 0.13% - 4.63%, due 07/31/25 - 02/15/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5595682279 | &nbsp;&nbsp; 5595000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $5,706,900,085, 0.13% - 6.88%, due 08/15/25 - 05/15/55)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 420051217 | &nbsp;&nbsp; 420000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $428,452,275, 0.38% - 4.63%, due 12/31/25 - 08/15/31)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 348042437 | &nbsp;&nbsp; 348000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $354,960,096, 0.00% - 4.88%, due 07/03/25 - 02/15/55)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 700085556 | &nbsp;&nbsp; 700000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $714,087,309, 1.88% - 4.38%, due 05/15/40 - 02/15/50)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 87010271 | &nbsp;&nbsp; 87000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $87,010,341, 2.25%, due 08/15/27)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9001100000 | &nbsp;&nbsp; 9000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $9,180,000,004, 0.13% - 4.00%, due 01/15/28 - 05/15/43)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7005856167 | &nbsp;&nbsp; 7005000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $7,145,100,116, 0.13% - 4.50%, due 07/15/31 - 05/15/40)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3153385367 | &nbsp;&nbsp; 3153000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,216,060,190, 0.13% - 4.38%, due 12/15/27 - 05/15/31)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2592316080 | &nbsp;&nbsp; 2592000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,643,840,009, 0.00% - 6.75%, due 07/08/25 - 02/15/55)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8757067746 | &nbsp;&nbsp; 8756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,931,120,012, 0.13% - 6.38%, due 01/15/26 - 02/15/48)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**27**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8757067746 | &nbsp;&nbsp; 8756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,931,120,041, 0.25% - 6.25%, due 06/30/26 - 11/15/53)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3852469730 | &nbsp;&nbsp; 3852000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,929,040,033, 0.00% - 6.63%, due 07/10/25 - 02/15/50)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8757067746 | &nbsp;&nbsp; 8756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,931,120,008, 0.13% - 6.75%, due 07/15/25 - 08/15/53)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1226149504 | &nbsp;&nbsp; 1226000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,250,520,029, 0.00% - 4.63%, due 09/09/25 - 11/15/51)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2137260595 | &nbsp;&nbsp; 2137000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,180,005,810, 0.00% - 5.00%, due 07/03/25 - 05/15/55)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1472179502 | &nbsp;&nbsp; 1472000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,501,440,031, 0.50% - 5.00%, due 08/31/25 - 05/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **73142626627** |
| **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.3%** |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 98512066 | &nbsp;&nbsp; 98500000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $100,482,325, 0.00% - 3.00%, due 08/21/25 - 02/15/55)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 965829364 | &nbsp;&nbsp; 965000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,010,789,837, 1.35% - <br> 9.25%, due 10/01/25 - 01/01/00)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/07/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1201031333 | &nbsp;&nbsp; 1200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,365,116,864, 0.96% - <br> 16.67%, due 07/25/25 - 04/25/70)<br>|  |  |  |  |  |  |
| Issued 05/15/25, repurchase date 09/05/25 |  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 909335250 | &nbsp;&nbsp; 900000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,049,976,738, 2.80% - <br> 11.39%, due 04/20/26 - 01/01/00)<br>|  |  |  |  |  |  |
| Issued 05/15/25, repurchase date 08/25/25 |  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 616327225 | &nbsp;&nbsp; 610000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $710,662,760, 0.00% - <br> 13.00%, due 05/01/26 - 04/17/36)<br>|  |  |  |  |  |  |

---

*See financial notes*

**28**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| Issued 05/29/25, repurchase date 09/02/25<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 252177500 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $287,168,203, 2.50% - <br> 6.31%, due 09/22/26 - 08/25/69) <br>(SOFR + 0.29%)<br>|  |  |  |  |  |
| Issued 05/29/25, repurchase date 09/02/25<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 226963938 | &nbsp;&nbsp; 225000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $236,250,006, 1.50% - <br> 9.25%, due 08/25/25 - 01/01/00) <br>(SOFR+0.30%)<br>|  |  |  |  |  |
| Issued 06/11/25, repurchase date 10/14/25<br> *(a)* | &nbsp;&nbsp; 4.89% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/28/25 | &nbsp;&nbsp; 276774593 | &nbsp;&nbsp; 272700000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $294,516,171, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.50%)<br>|  |  |  |  |  |
| Issued 06/23/25, repurchase date 10/21/25<br> *(a)* | &nbsp;&nbsp; 4.89% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 455990250 | &nbsp;&nbsp; 450000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $486,000,001, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.50%)<br>|  |  |  |  |  |
| Issued 06/10/25, repurchase date 10/10/25<br> *(a)* | &nbsp;&nbsp; 4.82% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 837702708 | &nbsp;&nbsp; 825000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $948,750,001, 0.00% - <br> 13.56%, due 07/15/25 - 10/15/17) <br>(SOFR +0.43%)<br>|  |  |  |  |  |
| Issued 06/11/25, repurchase date 10/10/25<br> *(a)* | &nbsp;&nbsp; 4.82% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 253815833 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $287,500,002, 3.38% - <br> 12.25%, due 04/15/26 - 01/01/00) <br>(SOFR +0.43%)<br>|  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250030486 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,116,440, 0.50% - 4.00%, due 10/31/27 - 02/28/30)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 10/14/25<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 1002068067 | &nbsp;&nbsp; 997510000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,077,310,887, 0.00%, due <br> 01/01/49 - 01/01/00) <br>(SOFR + 0.31%)<br>|  |  |  |  |  |
| Issued 04/29/25, repurchase date 08/12/25<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 1265829861 | &nbsp;&nbsp; 1250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,350,000,065, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.31%)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**29**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |
| Issued 06/24/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100085361 | &nbsp;&nbsp; 100000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $106,116,663, 1.79% - <br> 8.88%, due 07/15/25 - 01/01/00)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 04/23/25, repurchase date 10/20/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 408374000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $435,803,247, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 04/30/25, repurchase date 10/27/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 408005333 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $435,412,608, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 05/07/25, repurchase date 11/03/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 509545833 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $543,768,660, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 05/07/25, repurchase date 11/03/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 1375773750 | &nbsp;&nbsp; 1350000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,563,331,708, 0.01% - <br> 19.04%, due 12/22/25 - 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 05/29/25, repurchase date 11/25/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 812956000 | &nbsp;&nbsp; 800000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $867,581,757, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 06/11/25, repurchase date 12/08/25<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 444343700 | &nbsp;&nbsp; 438000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $474,204,728, 0.00%, due <br> 01/01/00) <br>(SOFR + 0.35%)<br>|  |  |  |  |  |
| Issued 04/04/25, repurchase date 10/01/25<br> *(a)* | &nbsp;&nbsp; 4.79% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 1842631000 | &nbsp;&nbsp; 1800000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $2,093,604,901, 0.00% - <br> 29.79%, due 09/01/25 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 05/07/25, repurchase date 11/03/25<br> *(a)* | &nbsp;&nbsp; 4.79% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 310884382 | &nbsp;&nbsp; 305000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $353,223,471, 0.00% - <br> 12.00%, due 07/15/25 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |

---

*See financial notes*

**30**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 06/27/25, repurchase date 12/24/25<br> *(a)* | &nbsp;&nbsp; 4.79% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 759380417 | &nbsp;&nbsp; 750000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $862,845,001, 0.00% - <br> 16.89%, due 10/16/25 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 80009844 | &nbsp;&nbsp; 80000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $86,400,090, 0.00%, due <br> 01/01/00)<br>|  |  |  |  |  |
| **RBC CAPITAL MARKETS LLC** |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 900773500 | &nbsp;&nbsp; 900000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $945,812,953, 0.00% - <br> 10.20%, due 11/24/25 - 01/01/00)<br>|  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |
| Issued 05/19/25, repurchase date 11/14/25 | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 512231667 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $589,066,964, 0.00% - <br> 12.58%, due 07/15/25 - 06/25/70)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 12/26/25 | &nbsp;&nbsp; 4.94% |  | &nbsp;&nbsp; 12/26/25 | &nbsp;&nbsp; 307368833 | &nbsp;&nbsp; 300000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $353,474,185, 0.00% - <br> 14.72%, due 07/22/26 - 01/25/70)<br>|  |  |  |  |  |
| Issued 06/05/25, repurchase date 12/30/25 | &nbsp;&nbsp; 4.86% |  | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 205616000 | &nbsp;&nbsp; 200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $215,897,461, 1.10% - <br> 7.50%, due 08/18/25 - 01/01/00)<br>|  |  |  |  |  |
| Issued 06/05/25, repurchase date 12/30/25 | &nbsp;&nbsp; 4.96% |  | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 360030222 | &nbsp;&nbsp; 350000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $414,034,949, 0.01% - <br> 13.31%, due 05/07/30 - 01/25/69)<br>|  |  |  |  |  |
| Issued 06/05/25, repurchase date 12/31/25 | &nbsp;&nbsp; 4.86% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 802007700 | &nbsp;&nbsp; 780000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $842,108,111, 0.75% - <br> 8.75%, due 07/13/25 - 01/01/00)<br>|  |  |  |  |  |
| Issued 06/16/25, repurchase date 01/09/26 | &nbsp;&nbsp; 4.86% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 513972500 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $591,068,376, 0.57% - <br> 8.78%, due 07/15/26 - 07/25/69)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**31**

------

Schwab Prime Advantage Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 06/16/25, repurchase date 01/09/26 |  | &nbsp;&nbsp; 4.96% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 151809552 | &nbsp;&nbsp; 147600000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $174,580,985, 2.25% - <br> 10.71%, due 02/25/30 - 05/25/70)<br>|  |  |  |  |  |  |
| Issued 06/26/25, repurchase date 01/21/26 |  | &nbsp;&nbsp; 4.87% |  | &nbsp;&nbsp; 01/21/26 | &nbsp;&nbsp; 411309222 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $473,005,606, 0.66% - <br> 8.76%, due 06/15/26 - 04/25/58)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **19544310000** |
| **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | **Total Repurchase Agreements** <br>**(Cost $151,314,636,627)** | &nbsp;&nbsp; **151314636627** |
| **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | **Total Investments in Securities** <br>**(Cost $357,738,840,117)** | &nbsp;&nbsp; **357738840117** |

---

&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.

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

*(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 $73,542,935,615 or 19.8% of net assets. 

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

*(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 June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**32**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $206424203490 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 151314636627 |
| Cash |  | 11454331209 |
| Receivables: |  |  |
| Fund shares sold |  | 2245582523 |
| Investments sold |  | 1500000000 |
| Interest |  | 926357435 |
| Prepaid expenses | + | 2711897 |
| **Total assets** |  | **373867823181** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 2112983992 |
| Investments bought |  | 309577344 |
| Distributions to shareholders |  | 262369770 |
| Investment adviser and administrator fees |  | 54260747 |
| Shareholder service fees |  | 4929192 |
| Accrued expenses | + | 3369281 |
| **Total liabilities** |  | **2747490326** |
| **Net assets** |  | **$371120332855** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $371115866555 |
| Total distributable earnings | + | 4466300 |
| **Net assets** |  | **$371120332855** |

---

&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 | $240562109294 |  | &nbsp;&nbsp;&nbsp;&nbsp; 240557489414 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $130558223561 |  | &nbsp;&nbsp;&nbsp;&nbsp; 130555443767 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**33**

------

Schwab Prime Advantage Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| Interest received from securities - unaffiliated issuers |  | $7662372094 |
| Other Interest | + | 261753039 |
| **Total investment income**  |  | **7924125133** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 334001767 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 170971418 |
| Registration fees |  | 5753767 |
| Custodian fees |  | 997212 |
| Portfolio accounting fees |  | 898061 |
| Shareholder reports |  | 852104 |
| Professional fees |  | 192234 |
| Independent trustees' fees |  | 144233 |
| Transfer agent fees  |  | 625 |
| Other expenses | + | 736880 |
| **Total expenses** |  | **514548301** |
| Expense reduction | – | 9575116 |
| **Net expenses** | – | **504973185** |
| **Net investment income** |  | **7419151948** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **135092** |
| **Increase in net assets resulting from operations** |  | **$7419287040** |

---

*See financial notes*

**34**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $7419151948 | &nbsp;&nbsp;&nbsp; $15184286611 |
| Net realized gains | + | 135092 | &nbsp;&nbsp;&nbsp; 100864 |
| **Increase in net assets from operations** |  | **$7419287040** | &nbsp;&nbsp;&nbsp; **$15184387475** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($4747503024)<br>| &nbsp;&nbsp;&nbsp; ($9733563689)<br>|
| Ultra Shares | + | (2667317716)<br>| &nbsp;&nbsp;&nbsp; (5452175768)<br>|
| **Total distributions** |  | **($7414820740)**<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 |  | 152036393757 | &nbsp;&nbsp;&nbsp; 250955380568 |
| Ultra Shares | + | 88631775294 | &nbsp;&nbsp;&nbsp; 144618313965 |
| **Total shares sold** |  | **240668169051** | &nbsp;&nbsp;&nbsp; **395573694533** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 3727093575 | &nbsp;&nbsp;&nbsp; 7649866143 |
| Ultra Shares | + | 2084207525 | &nbsp;&nbsp;&nbsp; 4276225628 |
| **Total shares reinvested** |  | **5811301100** | &nbsp;&nbsp;&nbsp; **11926091771** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (133774528347)<br>| &nbsp;&nbsp;&nbsp; (209940494625)<br>|
| Ultra Shares | + | (78339757720)<br>| &nbsp;&nbsp;&nbsp; (126212471344)<br>|
| **Total shares redeemed** |  | **(212114286067)**<br>| &nbsp;&nbsp;&nbsp; **(336152965969)**<br>|
| **Net transactions in fund shares** |  | **34365184084** | &nbsp;&nbsp;&nbsp; **71346820335** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $336750682471 | &nbsp;&nbsp;&nbsp; $265405214118 |
| Total increase  | + | 34369650384 | &nbsp;&nbsp;&nbsp; 71345468353 |
| **End of period** |  | **$371120332855** | &nbsp;&nbsp;&nbsp; **$336750682471** |

---

&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 Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**35**

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited

------

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

The fund 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 fund discussed in this report, which is highlighted:

---

| | |
|:---|:---|
| **THE CHARLES SCHWAB FAMILY OF FUNDS** | **THE CHARLES SCHWAB FAMILY OF FUNDS** |
| **Schwab Prime Advantage Money Fund** | Schwab Retirement Government Money Fund |
| Schwab Government Money Fund | 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 New York Municipal Money Fund |  |

---

The 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 (NAV), which is the price for all outstanding shares of the fund. Each share has a par value of 1/1,000 of a cent, and the fund's Board of Trustees (the Board) may authorize the issuance of as many shares as necessary.

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

**Investment Objective** 

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).

------

**2. Significant Accounting Policies:**

The following is a summary of the significant accounting policies the fund uses in its preparation of financial statements. The fund follows 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 has designated authority to a Valuation Designee, the fund's investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities in the fund 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.

**36**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited (continued)

------

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

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

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

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

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

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

As disclosed in the Portfolio Holdings, as of June 30, 2025, all of the fund's investments were classified as Level 2.

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

**Repurchase Agreements:** In a repurchase agreement, the 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 fund mitigates this risk by ensuring that a fund's repurchase agreements are collateralized by cash and/or U.S. government securities, fixed income securities, equity securities or other types of securities. 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 fund's 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 June 30, 2025, the fund had investments in repurchase agreements with a value of $151,314,636,627 as disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities. The value of the related collateral disclosed in the Portfolio Holdings exceeded the value of the repurchase agreements at period end.

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**37**

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited (continued)

------

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

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

**Cash Investments:** The fund may invest a portion of its assets in cash. Cash includes cash bank balances in an interest-bearing demand deposit account with maturity on demand by the fund.

**Delayed-Delivery Transactions and When-Issued Securities:** The fund 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 fund's Portfolio Holdings, if any. The fund 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. The 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) the 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 fund.

**(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 the 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 the fund are charged directly to the fund. Expenses that are common to more than one fund in the trusts generally are allocated among those funds in proportion to their average daily net assets.

The 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:**

The fund declares distributions from net investment income, if any, every day it is open for business. These distributions, which are substantially equal to the fund's net investment income for that day, are paid out to shareholders once a month. The fund makes 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 fund intends to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the fund distributes substantially all of its net investment income and net realized capital gains, if any, to its shareholders each year. As long as the fund meets the tax requirements, it is not required to pay federal income tax.

**38**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited (continued)

------

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

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

**(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 the fund's investment adviser acts as the fund's CODM. The CODM has determined that the fund operates as a single operating segment given the fund has a single defined investment strategy disclosed in its respective prospectus. The discrete financial information in the form of the 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 fund, is presented within the fund's financial statements.

**(j) Indemnification:**

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

**(k) Recent Accounting Pronouncements:**

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and with early adoption permitted. At this time, management is evaluating the impact of this amendment but believes it will not have a material impact on the financial statements and income tax disclosures.

------

**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 the fund's investment adviser and administrator pursuant to an Investment Advisory and Administration Agreement between the investment adviser and the trust.

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

**Shareholder Servicing**

The Board has adopted a Shareholder Servicing and Sweep Administration Plan (the Plan) on behalf of the fund. The Plan enables the 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 fund.

Pursuant to the Plan, the 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 fund (or, in the case of payments made to Schwab acting as a service provider, pursuant to Schwab's written agreement with the fund), and the fund will pay no more than the amounts listed in the table below, calculated based on the average annual daily net asset value of the fund shares owned by shareholders holding shares through such service providers.

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**39**

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited (continued)

------

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

**3. 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 |

---

**Contractual Expense Limitation**

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

---

| | |
|:---|:---|
| Investor Shares | 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>|

---

**Interfund Transactions**

The fund may engage in direct transactions with certain other funds in the Fund Complex in accordance with procedures adopted by the Board 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 the 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 are recorded in Net realized gains (losses) on sales of securities -unaffiliated issuers in the Statement of Operations. For the period ended June 30, 2025, the fund's purchases and sales of securities with other funds in the Fund Complex was $0 and $130,983,995 respectively, and includes net realized gains of $0.

**Interfund Borrowing and Lending**

Pursuant to an exemptive order issued by the SEC, the fund may enter into interfund borrowing and lending transactions with other funds in the Fund 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. The fund had no interfund borrowing or lending activity during the period.

------

**4. Board of Trustees:**

The Board 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 fund did not pay any of these interested persons for their services as trustees, but did pay non-interested persons (independent trustees), as noted in the fund's Statement of Operations.

------

**5. Borrowing from Banks:**

During the period, the fund was a participant with other funds in the Fund Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), maturing on September 25, 2025. Under the terms of the Syndicated Credit Facility, in addition to the interest charged on any borrowings by the fund, the fund paid a commitment fee of 0.15% per annum on the fund's proportionate share of the unused portion of the Syndicated Credit Facility.

During the period, the fund was a participant with other funds in the Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, maturing on September 25, 2025. Under the terms of the Uncommitted Credit Facility, the fund pays interest on the amount the fund borrows. There were no borrowings by the fund from either line of credit during the period.

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

**40**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

Financial Notes, unaudited (continued)

------

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

**6. Federal Income Taxes:**

As of June 30, 2025, the tax basis cost of the fund's investments was $357,738,840,117.

As of December 31, 2024, the fund had no capital loss carryforwards available to offset future realized capital gains for federal income tax purposes.

The tax basis components of distributions and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2025. The tax basis components of distributions paid during the fiscal year ended December 31, 2024 were as follows:

---

| |
|:---|
| PRIOR FISCAL YEAR END DISTRIBUTIONS |
| ORDINARY <br>INCOME <br>|
| $15185739457 |

---

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 fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

As of December 31, 2024, 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 fund, and has determined that no provision for income tax is required in the fund's financial statements. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the fund's Statement of Operations. During the fiscal year ended December 31, 2024, the fund did not incur any interest or penalties.

------

**7. 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.

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**41**

------

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

------

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

Not applicable.

**42**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Proxy Disclosures for Open-End Management Investment Companies

------

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

Not applicable.

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**43**

------

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).

**44** \|

------

Schwab Prime Advantage Money Fund

Investment Advisory Agreement Approval

------

The Investment Company Act of 1940, as amended (the 1940 Act), requires that the continuation of a fund's investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or "interested persons" of any party thereto (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund's trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory and administration agreement (the Agreement) between The Charles Schwab Family of Funds (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab Prime Advantage Money Fund (formerly, Schwab Value Advantage Money Fund) (the Fund), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser's affiliates, personnel, business goals and priorities, profitability, oversight of third-party service providers, corporate structure and operations. As part of the renewal process, the Independent Trustees' legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Fund that the Board reviews during the course of each year, including information that relates to the Fund's operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees' legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and answer sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.

The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance

of the Agreement with respect to the Fund at meetings held on May 7, 2025 and June 5, 2025, and approved the renewal of the Agreement with respect to the Fund for an additional one-year term at the meeting on June 5, 2025 called for the purpose of voting on such approval.

The Board's approval of the continuance of the Agreement with respect to the Fund was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:

1. the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Fund;

2. the Fund's investment performance and how it compared to that of certain other comparable mutual funds and benchmark data;

3. the Fund's expenses and how those expenses compared to those of certain other similar mutual funds;

4. the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and

5. the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided by the investment adviser to the Fund and the resources of the investment adviser and its affiliates dedicated to the Fund. In this regard, the Trustees evaluated, among other things, the investment adviser's experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Fund's portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, and vendor and risk oversight. The Trustees also considered the investment adviser's continued investment in its infrastructure, including the investment adviser's technology and use of data, business continuity, cybersecurity, due diligence, risk management processes, and information security programs. The Trustees considered Schwab's overall financial condition and reputation as a full service brokerage firm, as well as the wide range of products, services, and account features that benefit Fund shareholders who are brokerage clients of Schwab. Following such evaluation, the Board concluded, within the context of its full deliberations,

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**45**

------

Schwab Prime Advantage Money Fund

that the nature, extent and quality of services provided by the investment adviser to the Fund and the resources of the investment adviser and its affiliates dedicated to the Fund supported renewal of the Agreement with respect to the Fund.

**Fund Performance.** The Board considered the Fund's performance in determining whether to renew the Agreement with respect to the Fund. Specifically, the Trustees considered the Fund's performance relative to a peer category of other mutual funds and applicable indices/benchmarks, in light of portfolio yield and the market environment, as well as in consideration of the Fund's investment style and strategy. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of the Fund, the Trustees considered the risk profile for the Fund and the Fund's operation as a money market fund within the meaning of Rule 2a-7 under the 1940 Act. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser's profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Following such evaluation, the Board concluded, within the context of its full deliberations, that the performance of the Fund supported renewal of the Agreement with respect to the Fund.

**Fund Expenses.** With respect to the Fund's expenses, the Trustees considered the rate of compensation called for by the Agreement and the Fund's net operating expense ratio, in each case, in comparison to those of other similar mutual funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Fund and provision of services as well as the competitive marketplace for financial products. The Trustees considered the effects of the investment adviser and its affiliates practice of waiving certain fees to prevent total annual operating expenses of the Fund from exceeding a specified cap. The Trustee's also considered the investment adviser's contractual commitment to limit the total annual operating expenses of the Fund for so long as the investment adviser serves as the adviser to the Fund, as well as historically using voluntary waivers (which the investment adviser will not recoup) to maintain a certain yield. The Trustees also considered fees charged by the investment adviser to other mutual funds that it manages. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of the Fund are reasonable and supported renewal of the Agreement with respect to the Fund.

**Profitability.** The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. The Trustees reviewed profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund

shareholders of being part of the Schwab fund complex, including the allocations of certain costs across the Fund and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Fund, such as whether, by virtue of its management of the Fund, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Fund under the Agreement and other service agreements were reasonable in light of the quality of all services rendered to the Fund by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Fund. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to the Fund.

**Economies of Scale.** Although the Trustees recognized the difficulty of determining economies of scale with precision and although the Fund does not have breakpoints in its advisory fee, the Trustees considered the potential existence of any economies of scale and whether those are passed along to the Fund's shareholders through (i) the enhancement of services provided to the Fund in return for fees paid, including through the investment adviser's continued investment in its infrastructure and use of data and technology, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Fund and its shareholders; (ii) fee waivers or expense caps by the investment adviser and its affiliates for those funds in the Schwab fund complex with such features; and (iii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees considered that the investment adviser and its affiliates may employ contractual expense caps to protect shareholders from higher fees when fund assets are relatively small, for example, in the case of newer funds or funds with investment strategies that are from time to time out of favor, because, among other reasons, shareholders may benefit from the continued availability of such funds at subsidized expense levels. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the Fund obtains reasonable benefits from economies of scale.

\* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*

In the course of their deliberations, the Trustees may have accorded different weights to various factors and did not identify any particular information or factor that was all important or controlling. Based on the Trustees' deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, approved the continuation of the Agreement with respect to the Fund and concluded that the compensation under the Agreement with respect to the Fund is fair and reasonable in light of the services provided and the related expenses borne by the

**46**Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Prime Advantage Money Fund

investment adviser and its affiliates and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

Schwab Prime Advantage Money Fund \| Semiannual Holdings and Financial Statements

**47**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g76466img206a04c31.jpg)

MFR13605-29

00315734

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g13960img134bde2b1.jpg)

**Semiannual Holdings and Financial Statements** \| June 30, 2025

Schwab Government Money Funds

------

Schwab Government

Money Fund

Schwab U.S. Treasury

Money Fund

Schwab Treasury Obligations

Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| **[Item 7 - Financial Statements and Financial Highlights for Open-End](#xx_a823bdcf-4477-483c-b35f-2028853d1832_1)**<br> **[Management Investment Companies](#xx_a823bdcf-4477-483c-b35f-2028853d1832_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_a823bdcf-4477-483c-b35f-2028853d1832_1) <br>|  |
| [Schwab Government Money Fund](#xx_a823bdcf-4477-483c-b35f-2028853d1832_1) | 2 |
| [Schwab U.S.](#xx_68633556-6c53-4b3d-9239-f82b90bb2a39_1)[Treasury Money Fund](#xx_68633556-6c53-4b3d-9239-f82b90bb2a39_1) | 20 |
| [Schwab Treasury Obligations Money Fund](#xx_bbc5cf08-c134-41ce-96b0-b4fcde88169e_1) | 28 |
| [Financial Notes](#xx_3bd8512f-5f99-46b9-a9d6-fa699c095a6a_1) | 38 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_df7b157d-bf3d-4231-b23c-71690c7d1983_1)**<br> **[Management Investment Companies](#xx_df7b157d-bf3d-4231-b23c-71690c7d1983_1)**<br>| 47 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_a91861c6-cab5-4a1a-9997-c3bbe38acb1f_1)**<br> **[Companies](#xx_a91861c6-cab5-4a1a-9997-c3bbe38acb1f_1)**<br>| 48 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_c4f0edc9-e60c-4028-9a9f-19d8de668c4b_1)**<br> **[Management Investment Companies](#xx_c4f0edc9-e60c-4028-9a9f-19d8de668c4b_1)**<br>| 49 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_96e1aca3-335a-48f2-85fe-72326ee10d55_1)**<br> **[Contract](#xx_96e1aca3-335a-48f2-85fe-72326ee10d55_1)** <br>|  |
| [Investment Advisory Agreement Approval](#xx_96e1aca3-335a-48f2-85fe-72326ee10d55_1) | 50  |

---

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

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

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**1**

------

Schwab Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Sweep Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.98 %<sup>4</sup><br>| 4.87<br> %<br>| 4.71<br> %<br>| 1.29<br> %<br>| 0.02 %<sup>3</sup><br>| 0.23<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.44<br> %<br>| 0.44<br> %<br>| 0.35 %<sup>6,7</sup><br>| 0.06 %<sup>7</sup><br>| 0.30 %<sup>7,8</sup><br>|
| Total expenses | 0.45 %<sup>5</sup><br>| 0.45<br> %<br>| 0.45<br> %<br>| 0.45 %<sup>6</sup><br>| 0.45<br> %<br>| 0.52<br> %<br>|
| Net investment income (loss) | 3.96 %<sup>5</sup><br>| 4.76<br> %<br>| 4.59<br> %<br>| 1.21<br> %<br>| 0.02<br> %<br>| 0.18<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $20466 | &nbsp;&nbsp; $20322 | &nbsp;&nbsp; $18265 | &nbsp;&nbsp; $20458 | &nbsp;&nbsp; $24159 | &nbsp;&nbsp; $20119 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>8</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**2**Schwab Government Money Funds \| Semiannual 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>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.03 %<sup>4</sup><br>| 4.98<br> %<br>| 4.81<br> %<br>| 1.36<br> %<br>| 0.02 %<sup>3</sup><br>| 0.30<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>6,7</sup><br>| 0.06 %<sup>7</sup><br>| 0.27 %<sup>7,8</sup><br>|
| Total expenses | 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>6</sup><br>| 0.35<br> %<br>| 0.43<br> %<br>|
| Net investment income (loss) | 4.06 %<sup>5</sup><br>| 4.85<br> %<br>| 4.78<br> %<br>| 1.59<br> %<br>| 0.02<br> %<br>| 0.28<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $30889 | &nbsp;&nbsp; $28152 | &nbsp;&nbsp; $21646 | &nbsp;&nbsp; $10823 | &nbsp;&nbsp; $6782 | &nbsp;&nbsp; $11980 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>8</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**3**

------

Schwab Government Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>34</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.11 %<sup>5</sup><br>| 5.14<br> %<br>| 4.97<br> %<br>| 1.48<br> %<br>| 0.02 %<sup>4</sup><br>| 0.00 %<sup>5,6</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>7</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>8,9</sup><br>| 0.06 %<sup>9</sup><br>| 0.13 %<sup>7,9</sup><br>|
| Total expenses | 0.20 %<sup>7</sup><br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>8</sup><br>| 0.20<br> %<br>| 0.20 %<sup>7</sup><br>|
| Net investment income (loss) | 4.21 %<sup>7</sup><br>| 4.97<br> %<br>| 4.92<br> %<br>| 1.76<br> %<br>| 0.03<br> %<br>| 0.01 %<sup>7</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $29730 | &nbsp;&nbsp; $26324 | &nbsp;&nbsp; $16202 | &nbsp;&nbsp; $8636 | &nbsp;&nbsp; $4726 | &nbsp;&nbsp; $1647 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</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>5</sup> Not annualized.

<sup>6</sup> Percentage was less than 0.005%.

<sup>7</sup> Annualized.

<sup>8</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>9</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**4**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 31.6% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 31.6% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 31.6% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 31.6% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 31.6% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 31.6% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
| <br>*(a)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 18160000 | &nbsp;&nbsp; 18160678 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 158600000 | &nbsp;&nbsp; 158600000 |
|  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 24184975 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 28800000 | &nbsp;&nbsp; 28800000 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 65456000 | &nbsp;&nbsp; 65453748 |
| <br>*(a)* | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99650833 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 30750000 | &nbsp;&nbsp; 30644803 |
| <br>*(a)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 48072816 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 142986000 | &nbsp;&nbsp; 142966654 |
| <br>*(a)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 67650000 | &nbsp;&nbsp; 67252556 |
| <br>(EFFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 81700000 | &nbsp;&nbsp; 81700000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 50160000 | &nbsp;&nbsp; 50182127 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 58100000 | &nbsp;&nbsp; 58089116 |
| <br>(EFFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 96200000 | &nbsp;&nbsp; 96200000 |
| <br>(EFFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 72800000 | &nbsp;&nbsp; 72800000 |
| <br>(EFFR + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 52800000 | &nbsp;&nbsp; 52800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 18900000 | &nbsp;&nbsp; 18705188 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 228400000 | &nbsp;&nbsp; 228417631 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 138860000 | &nbsp;&nbsp; 139153190 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 96100000 | &nbsp;&nbsp; 96100000 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 24740000 | &nbsp;&nbsp; 24797684 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 192400000 | &nbsp;&nbsp; 192400000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 149900000 | &nbsp;&nbsp; 149916909 |
| <br>(EFFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38510493 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 168200000 | &nbsp;&nbsp; 168200000 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 53720000 | &nbsp;&nbsp; 53707003 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 18900000 | &nbsp;&nbsp; 18900000 |
| <br>*(a)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 33381682 |
| <br>(SOFR + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
| <br>*(a)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 38700000 | &nbsp;&nbsp; 37950510 |
| <br>(SOFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.06%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
| <br>(EFFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 212900000 | &nbsp;&nbsp; 212900000 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99955025 |
| <br>(SOFR + 0.05%)<br> *(b)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 39000000 | &nbsp;&nbsp; 39000654 |
| <br>(SOFR + 0.08%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 99600000 | &nbsp;&nbsp; 99623655 |
| <br>*(a)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 47161077 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 25100000 | &nbsp;&nbsp; 24514256 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**5**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 47122977 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| <br>(SOFR + 0.07%)<br> *(b)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 48400000 |
| <br>(EFFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 86700000 | &nbsp;&nbsp; 86700000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
| <br>(SOFR + 0.06%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 209500000 | &nbsp;&nbsp; 209500000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| <br>(EFFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 96300000 | &nbsp;&nbsp; 96300000 |
| <br>(EFFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 144600000 |
| <br>(SOFR + 0.04%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| <br>(SOFR + 0.05%)<br> *(b)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 116100000 | &nbsp;&nbsp; 116100000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 111388000 | &nbsp;&nbsp; 111764491 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 144900000 | &nbsp;&nbsp; 144900000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 97000000 | &nbsp;&nbsp; 97000000 |
| <br>(SOFR + 0.05%)<br> *(b)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/02/26 | &nbsp;&nbsp; 96650000 | &nbsp;&nbsp; 96650000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| <br>(SOFR + 0.08%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/24/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17400000 |
| <br>(SOFR + 0.06%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>(SOFR + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.05%)<br> *(b)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 116100000 | &nbsp;&nbsp; 116100000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.07%)<br> *(b)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/27/26 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 115000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/08/27 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| <br>(SOFR + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/21/27 | &nbsp;&nbsp; 58200000 | &nbsp;&nbsp; 58200000 |
| <br>(EFFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 169600000 | &nbsp;&nbsp; 169600000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/03/27 | &nbsp;&nbsp; 196100000 | &nbsp;&nbsp; 196100000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/12/27 | &nbsp;&nbsp; 87200000 | &nbsp;&nbsp; 87200000 |
| <br>(EFFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/18/27 | &nbsp;&nbsp; 77500000 | &nbsp;&nbsp; 77500000 |
| <br>(EFFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 174250000 | &nbsp;&nbsp; 174250000 |
| <br>(SOFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/11/27 | &nbsp;&nbsp; 43700000 | &nbsp;&nbsp; 43700000 |
| <br>(SOFR + 0.07%)<br> *(b)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 280700000 | &nbsp;&nbsp; 280700000 |
| <br>(SOFR + 0.08%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/16/27 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96800000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/19/27 | &nbsp;&nbsp; 62900000 | &nbsp;&nbsp; 62900000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
| <br>(SOFR + 0.00%)<br> *(b)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 193800000 | &nbsp;&nbsp; 193800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 241731073 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96402402 |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 193400000 | &nbsp;&nbsp; 193179470 |
| <br>*(a)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48843901 |
| <br>(SOFR + 0.03%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 217800000 | &nbsp;&nbsp; 217800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96519708 |

---

*See financial notes*

**6**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 154600000 | &nbsp;&nbsp; 154296297 |
| <br>*(a)* | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 20800000 | &nbsp;&nbsp; 20741402 |
| <br>*(a)* | &nbsp;&nbsp; 5.54% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1894647 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600653 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 95900000 | &nbsp;&nbsp; 95900000 |
| <br>*(a)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 338600000 | &nbsp;&nbsp; 337423365 |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199179000 |
| <br>*(a)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 96650000 | &nbsp;&nbsp; 96241170 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 249100000 | &nbsp;&nbsp; 249100000 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 120997538 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 369600000 | &nbsp;&nbsp; 369600000 |
| <br>*(a)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 192502266 |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 240758237 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 242000000 |
| <br>(SOFR + 0.06%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96802002 |
| <br>(SOFR + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 143900000 | &nbsp;&nbsp; 143900000 |
| <br>*(a)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 193400000 | &nbsp;&nbsp; 192169358 |
| <br>*(a)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 193400000 | &nbsp;&nbsp; 192139462 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 241700000 | &nbsp;&nbsp; 241700000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 48366274 |
| <br>*(a)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 192198202 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 193800000 | &nbsp;&nbsp; 193800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 119997717 |
| <br>*(a)* | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 23996350 |
| <br>*(a)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 218000000 | &nbsp;&nbsp; 216075242 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 273800000 | &nbsp;&nbsp; 273811559 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 145100000 | &nbsp;&nbsp; 143493138 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 242200000 | &nbsp;&nbsp; 242200000 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 145400000 | &nbsp;&nbsp; 145400000 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>*(a)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 142936167 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 241900000 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 193800000 | &nbsp;&nbsp; 193800000 |
| <br>(SOFR + 0.03%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 145400000 | &nbsp;&nbsp; 145400000 |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 217600000 | &nbsp;&nbsp; 217534421 |
| <br>(SOFR + 0.01%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 241900000 |
| <br>(SOFR + 0.04%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 97200000 | &nbsp;&nbsp; 97200000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.03%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 121300000 | &nbsp;&nbsp; 121300000 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 24300000 | &nbsp;&nbsp; 23779224 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 121200000 | &nbsp;&nbsp; 121200000 |
| <br>*(a)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 235376763 |
|  | &nbsp;&nbsp; 0.96% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 33900000 | &nbsp;&nbsp; 33204673 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 339300000 | &nbsp;&nbsp; 339300000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 03/10/26 | &nbsp;&nbsp; 149500000 | &nbsp;&nbsp; 149500000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 121200000 | &nbsp;&nbsp; 121200000 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**7**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 145500000 | &nbsp;&nbsp; 145500000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 9760000 | &nbsp;&nbsp; 9760000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 169400000 | &nbsp;&nbsp; 169400000 |
| <br>(SOFR + 0.02%)<br> *(b)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 241700000 | &nbsp;&nbsp; 241700000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 129300000 | &nbsp;&nbsp; 129300000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.04%)<br> *(b)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 121200000 | &nbsp;&nbsp; 121200000 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 145100000 | &nbsp;&nbsp; 145100000 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 241000000 | &nbsp;&nbsp; 241000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96800000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 145075000 | &nbsp;&nbsp; 145075000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 266000000 | &nbsp;&nbsp; 266000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 145100000 | &nbsp;&nbsp; 145100000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 120900000 | &nbsp;&nbsp; 120900000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 35540000 | &nbsp;&nbsp; 35654652 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>*(a)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 15384000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 145600000 | &nbsp;&nbsp; 145600000 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 131000000 | &nbsp;&nbsp; 131000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 72500000 | &nbsp;&nbsp; 72500000 |
| <br>(SOFR + 0.09%)<br> *(b)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 266500000 | &nbsp;&nbsp; 266500000 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 169200000 | &nbsp;&nbsp; 169200000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 145575000 | &nbsp;&nbsp; 145575000 |
| <br>(SOFR + 0.18%)<br> *(b)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.19%)<br> *(b)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/24/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/26 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 241800000 | &nbsp;&nbsp; 241800000 |
| <br>(SOFR + 0.19%)<br> *(b)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 72500000 | &nbsp;&nbsp; 72500000 |
| <br>(SOFR + 0.05%)<br> *(b)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/28/26 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96792991 |
| <br>(SOFR + 0.06%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 193500000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 193500000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/04/27 | &nbsp;&nbsp; 245500000 | &nbsp;&nbsp; 245500000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 121300000 | &nbsp;&nbsp; 121300000 |
| <br>(SOFR + 0.07%)<br> *(b)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/25/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.08%)<br> *(b)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/05/27 | &nbsp;&nbsp; 174400000 | &nbsp;&nbsp; 174400000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/09/27 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 121250000 | &nbsp;&nbsp; 121250000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 145075000 | &nbsp;&nbsp; 145075000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 224040000 | &nbsp;&nbsp; 223511881 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 73100000 | &nbsp;&nbsp; 72837270 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 69945000 | &nbsp;&nbsp; 69895857 |
|  | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 21993000 | &nbsp;&nbsp; 21976169 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 513000000 | &nbsp;&nbsp; 508863340 |
|  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 32345000 | &nbsp;&nbsp; 32019314 |

---

*See financial notes*

**8**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 11/07/25 | &nbsp;&nbsp; 241550000 | &nbsp;&nbsp; 237966606 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 153800000 | &nbsp;&nbsp; 153800000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
| <br>(SOFR + 0.11%)<br> *(b)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 65800000 | &nbsp;&nbsp; 65800000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 130600000 | &nbsp;&nbsp; 130600000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 68600000 | &nbsp;&nbsp; 68600000 |
| <br>(SOFR + 0.13%)<br> *(b)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 169300000 | &nbsp;&nbsp; 169300000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 24070819 |
| <br>(SOFR + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(SOFR + 0.12%)<br> *(b)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 42500000 | &nbsp;&nbsp; 42500000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 239100000 | &nbsp;&nbsp; 239100000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 113000000 | &nbsp;&nbsp; 113000000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 100600000 | &nbsp;&nbsp; 100611914 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 140600000 | &nbsp;&nbsp; 140600000 |
| <br>(SOFR + 0.14%)<br> *(b)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 52900000 | &nbsp;&nbsp; 52900000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $25,633,452,225)**<br>|  |  |  |  | &nbsp;&nbsp; **25633452225** |
| **U.S. TREASURY DEBT** 6.3% OF NET ASSETS | **U.S. TREASURY DEBT** 6.3% OF NET ASSETS | **U.S. TREASURY DEBT** 6.3% OF NET ASSETS | **U.S. TREASURY DEBT** 6.3% OF NET ASSETS | **U.S. TREASURY DEBT** 6.3% OF NET ASSETS | **U.S. TREASURY DEBT** 6.3% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48142768 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 291600000 | &nbsp;&nbsp; 287019432 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 79800000 | &nbsp;&nbsp; 79985463 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 418900000 | &nbsp;&nbsp; 410986605 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 248600000 | &nbsp;&nbsp; 246624109 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 480800000 | &nbsp;&nbsp; 480779306 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 102000000 | &nbsp;&nbsp; 101794822 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 131500000 | &nbsp;&nbsp; 128625926 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 80400000 | &nbsp;&nbsp; 79667115 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 68600000 | &nbsp;&nbsp; 68608087 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 448400000 | &nbsp;&nbsp; 448663134 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 143700000 | &nbsp;&nbsp; 141403262 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 48000000 | &nbsp;&nbsp; 47929349 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 79700000 | &nbsp;&nbsp; 77868146 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 142000000 | &nbsp;&nbsp; 142283005 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 175400000 | &nbsp;&nbsp; 175893463 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 79000000 | &nbsp;&nbsp; 76829628 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 146100000 | &nbsp;&nbsp; 143954462 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400746 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 241700000 | &nbsp;&nbsp; 243072624 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 35600000 | &nbsp;&nbsp; 34830178 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 275100000 | &nbsp;&nbsp; 273804873 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 87700000 | &nbsp;&nbsp; 85017406 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 81300000 | &nbsp;&nbsp; 81915499 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 276200000 | &nbsp;&nbsp; 267499876 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 96900000 | &nbsp;&nbsp; 97379144 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 117400000 | &nbsp;&nbsp; 117394634 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**9**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.21%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 84200000 | &nbsp;&nbsp; 84312797 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.34% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 175500000 | &nbsp;&nbsp; 175463619 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 451575000 | &nbsp;&nbsp; 451696881 |
| **Total U.S. Treasury Debt** <br>**(Cost $5,113,846,359)**<br>|  |  |  |  | &nbsp;&nbsp; **5113846359** |
| **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 |
| **BRIDGE WF II PARKWAY CLUB LLC** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB SERIES 2021A (**LOC**: FEDERAL HOME <br> LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 56900000 | &nbsp;&nbsp; 56900000 |
| **FARR LIFE LLC** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **RIVERSIDE HOME LENDING** |  |  |  |  |  |
| TAXABLE S/F RENTAL HOUSING RB SERIES 2021A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 77300000 | &nbsp;&nbsp; 77300000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $139,200,000)**<br>|  |  |  |  | &nbsp;&nbsp; **139200000** |

---

&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** 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. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.3%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 134016378 | &nbsp;&nbsp; 134000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $138,020,000, 2.00% - 6.50%, due 10/20/28 - <br> 01/01/55)<br>|  |  |  |  |  |  |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 45005500 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $45,900,056, 4.88%, due 11/30/25 - 05/31/26)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 43005232 | &nbsp;&nbsp; 43000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $44,295,389, 5.79% - 6.15%, due 03/20/72 - <br> 02/20/75)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 179021878 | &nbsp;&nbsp; 179000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $184,392,534, 1.50% - 7.00%, due 02/01/28 - <br> 05/20/55)<br>|  |  |  |  |  |  |
| Issued 06/05/25, repurchase date 07/07/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1948453440 | &nbsp;&nbsp; 1941000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,006,907,044, 1.50% - 7.00%, due 01/01/26 - <br> 05/15/67)<br>|  |  |  |  |  |  |

---

*See financial notes*

**10**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 179021878 | &nbsp;&nbsp; 179000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $185,533,985, 2.00% - 7.50%, due 10/01/29 - <br> 02/15/60)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 465056833 | &nbsp;&nbsp; 465000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $478,068,218, 0.13% - 7.50%, <br> due 03/25/26 - 02/20/74)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 483059033 | &nbsp;&nbsp; 483000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $494,886,428, 1.50% - 5.81%, <br> due 10/15/33 - 09/20/70)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 90011000 | &nbsp;&nbsp; 90000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $92,698,683, 0.63% - 7.00%, <br> due 09/30/28 - 07/01/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 44105390 | &nbsp;&nbsp; 44100000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $44,982,072, 1.63% - 4.88%, due 04/30/26 - 02/15/27)<br>|  |  |  |  |  |  |
| Issued 05/29/25, repurchase date 08/27/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 245666925 | &nbsp;&nbsp; 243000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $255,153,649, 2.50% - 12.91%, due 07/25/39 - <br> 11/25/61)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36004400 | &nbsp;&nbsp; 36000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $37,804,621, 1.71% - 1.99%, due 07/25/31 - <br> 01/25/32)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 465056833 | &nbsp;&nbsp; 465000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $483,180,731, 2.00% - 6.50%, due 07/22/26 - <br> 06/01/55)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1342164395 | &nbsp;&nbsp; 1342000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,382,260,000, 2.00% - 7.00%, due 11/01/34 - <br> 06/01/55)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 929113544 | &nbsp;&nbsp; 929000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $949,080,678, 1.50% - 7.00%, due 05/20/31 - <br> 11/16/63)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 1936632925 | &nbsp;&nbsp; 1935000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,981,495,777, 2.00% - 7.50%, due 03/01/28 - <br> 05/20/72)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**11**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 06/27/25, repurchase date 07/03/25 | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 2978172480 | &nbsp;&nbsp; 2976000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $3,035,529,064, 1.00% - 8.50%, due 08/15/25 - <br> 08/20/74)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 45005488 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $46,350,001, 2.00% - 8.00%, due 07/15/28 - <br> 04/20/65)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1611196900 | &nbsp;&nbsp; 1611000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,659,330,001, 1.50% - 7.50%, due 07/20/25 - <br> 07/15/65)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1790218778 | &nbsp;&nbsp; 1790000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,841,875,215, 2.00% - <br> 8.50%, due 09/01/25 - 11/15/66)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 179021878 | &nbsp;&nbsp; 179000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $184,370,001, 4.72% - 5.35%, due 12/25/33 - <br> 05/20/55)<br>|  |  |  |  |  |
| Issued 04/14/25, repurchase date 10/21/25<br> *(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 444435633 | &nbsp;&nbsp; 435000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $452,325,020, 0.00% - 7.18%, due 07/25/26 - <br> 12/16/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 05/05/25, repurchase date 11/10/25<br> *(b)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 1236098889 | &nbsp;&nbsp; 1213000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,258,044,109, 0.13% - 10.71%, due 06/25/26 - <br> 05/20/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 233028478 | &nbsp;&nbsp; 233000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $237,660,075, 1.63% - 4.00%, due 05/15/26 - 05/31/30)<br>|  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9001100 | &nbsp;&nbsp; 9000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $9,360,000, 2.00% - 6.50%, due 01/20/29 - <br> 04/20/53)<br>|  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 89010878 | &nbsp;&nbsp; 89000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $91,613,645, 0.25% - 6.60%, <br> due 01/15/26 - 03/20/62)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 430052556 | &nbsp;&nbsp; 430000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $440,930,952, 0.00% - 7.50%, <br> due 09/11/25 - 07/15/66)<br>|  |  |  |  |  |

---

*See financial notes*

**12**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1944950474 | &nbsp;&nbsp; 1941000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,007,710,911, 0.13% - <br> 8.00%, due 10/31/26 - 02/15/65)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/18/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1564020692 | &nbsp;&nbsp; 1553000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,612,591,332, 1.13% - <br> 7.50%, due 12/31/25 - 03/01/62)<br>|  |  |  |  |  |  |
| Issued 05/23/25, repurchase date 07/21/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 544933575 | &nbsp;&nbsp; 542000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $562,221,433, 1.13% - 7.28%, <br> due 07/01/28 - 05/01/55)<br>|  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/18/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2443215839 | &nbsp;&nbsp; 2426000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,519,605,963, 0.50% - <br> 7.00%, due 02/25/26 - 06/25/55)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 268032756 | &nbsp;&nbsp; 268000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $276,005,087, 1.13% - 7.00%, <br> due 11/30/25 - 07/01/55)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 358043756 | &nbsp;&nbsp; 358000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $368,740,000, 1.50% - 2.00%, due 12/01/50 - <br> 08/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1795219389 | &nbsp;&nbsp; 1795000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,865,934,691, 0.00% - <br> 6.75%, due 07/15/25 - 05/20/65)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 452382317 | &nbsp;&nbsp; 452000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $470,469,226, 0.13% - 6.50%, <br> due 10/01/42 - 06/01/55)<br>|  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1451561283 | &nbsp;&nbsp; 1450500000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,508,591,264, 0.00% - <br> 7.00%, due 10/09/25 - 05/01/58)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1933913946 | &nbsp;&nbsp; 1932500000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,011,270,504, 1.25% - 8.15%, due 10/01/25 - <br> 07/01/55)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **30281100000** |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**13**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 25.4%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 415050607 | &nbsp;&nbsp; 415000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $423,300,043, 0.13% - 5.00%, due 09/30/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 346042289 | &nbsp;&nbsp; 346000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $352,920,089, 0.75% - 4.63%, due 10/31/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 154018779 | &nbsp;&nbsp; 154000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $157,099,159, 1.88% - 4.63%, due 12/15/25 - 02/15/48)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 17364266 | &nbsp;&nbsp; 17362149 |
| (Collateralized by U.S. Treasury Securities valued at <br> $17,711,568, 2.38% - 4.38%, due 01/31/32 - 05/15/51)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 338041217 | &nbsp;&nbsp; 338000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $344,802,091, 1.00% - 4.45%, due 09/30/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 400048778 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $408,000,033, 1.00% - 4.50%, due 02/15/44 - 05/15/52)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 269032803 | &nbsp;&nbsp; 269000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $274,380,032, 0.13% - 4.50%, due 07/31/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1238150967 | &nbsp;&nbsp; 1238000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,262,760,082, 0.50% - 6.38%, due 12/31/26 - 11/15/27)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 92011219 | &nbsp;&nbsp; 92000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $93,851,482, 4.00% - 4.63%, due 06/15/27 - 06/30/32)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 483406659 | &nbsp;&nbsp; 483000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $493,074,852, 1.63% - 4.25%, due 02/15/26 - 02/29/32)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 77009390 | &nbsp;&nbsp; 77000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $78,540,005, 1.25% - 4.63%, due 02/15/35 - 11/15/51)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 154018822 | &nbsp;&nbsp; 154000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $157,099,209, 4.50%, due 02/15/44)<br>|  |  |  |  |  |  |

---

*See financial notes*

**14**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4062479542 | &nbsp;&nbsp; 4062000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $4,062,479,626, 0.88%, due 11/15/30)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2054251044 | &nbsp;&nbsp; 2054000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,095,080,014, 3.88% - 4.75%, due 08/15/33 - 11/15/53)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1538187978 | &nbsp;&nbsp; 1538000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,568,760,063, 1.63% - 4.63%, due 05/15/31 - 06/30/31)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 692084578 | &nbsp;&nbsp; 692000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $705,840,101, 1.75% - 4.63%, due 08/15/41 - 05/15/47)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 569069386 | &nbsp;&nbsp; 569000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $580,380,003, 0.13% - 4.25%, due 11/30/26 - 02/15/54)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1923234499 | &nbsp;&nbsp; 1923000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,961,460,083, 0.50% - 4.75%, due 04/30/27 - 08/15/44)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1923234499 | &nbsp;&nbsp; 1923000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,961,460,055, 0.88% - 4.63%, due 06/30/26 - 08/15/49)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 846103165 | &nbsp;&nbsp; 846000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $862,920,062, 0.13% - 4.63%, due 10/15/25 - 01/31/30)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1923234499 | &nbsp;&nbsp; 1923000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,961,460,028, 1.38% - 4.63%, due 08/31/26 - 11/15/49)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 269032803 | &nbsp;&nbsp; 269000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $274,380,005, 0.63% - 5.00%, due 08/15/32 - 05/15/55)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 469057192 | &nbsp;&nbsp; 469000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $478,438,349, 0.13% - 4.38%, due 07/15/26 - 08/15/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**15**

------

Schwab Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 323039388 | &nbsp;&nbsp; 323000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $329,460,020, 0.00% - 4.75%, due 08/05/25 - 08/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **20574362149** |
| **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | **Total Repurchase Agreements** <br>**(Cost $50,855,462,149)** | &nbsp;&nbsp; **50855462149** |
| **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | **Total Investments in Securities** <br>**(Cost $81,741,960,733)** | &nbsp;&nbsp; **81741960733** |

---

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

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

*(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 June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**16**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $30886498584 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 50855462149 |
| Cash |  | 15342 |
| Receivables: |  |  |
| Fund shares sold |  | 392897691 |
| Interest |  | 237611573 |
| Prepaid expenses | + | 993857 |
| **Total assets** |  | **82373479196** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 660526659 |
| Investments bought |  | 485959500 |
| Distributions to shareholders |  | 127264601 |
| Investment adviser and administrator fees |  | 11943106 |
| Shareholder service fees |  | 1347067 |
| Accrued expenses | + | 962445 |
| **Total liabilities** |  | **1288003378** |
| **Net assets** |  | **$81085475818** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $81085186685 |
| Total distributable earnings | + | 289133 |
| **Net assets** |  | **$81085475818** |

---

&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 | $20465712763 |  | &nbsp;&nbsp;&nbsp;&nbsp; 20465759722 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Investor Shares | $30889459254 |  | &nbsp;&nbsp;&nbsp;&nbsp; 30889640390 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $29730303801 |  | &nbsp;&nbsp;&nbsp;&nbsp; 29730643851 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**17**

------

Schwab Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$1703906376** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 73503489 |
| Shareholder service fees: |  |  |
| Sweep Shares |  | 25094689 |
| Investor Shares |  | 22356031 |
| Registration fees |  | 1478290 |
| Shareholder reports |  | 330110 |
| Portfolio accounting fees |  | 231435 |
| Custodian fees |  | 209107 |
| Professional fees |  | 58200 |
| Independent trustees' fees |  | 50209 |
| Transfer agent fees  |  | 928 |
| Other expenses | + | 159815 |
| **Total expenses** |  | **123472303** |
| Expense reduction | – | 2518094 |
| **Net expenses** | – | **120954209** |
| **Net investment income** |  | **1582952167** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **320078** |
| **Increase in net assets resulting from operations** |  | **$1583272245** |

---

*See financial notes*

**18**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $1582952167 | &nbsp;&nbsp;&nbsp; $3156882448 |
| Net realized gains | + | 320078 | &nbsp;&nbsp;&nbsp; — |
| **Increase in net assets from operations** |  | **$1583272245** | &nbsp;&nbsp;&nbsp; **$3156882448** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Sweep Shares |  | ($397986985)<br>| &nbsp;&nbsp;&nbsp; ($927966104)<br>|
| Investor Shares |  | (605732236)<br>| &nbsp;&nbsp;&nbsp; (1210655971)<br>|
| Ultra Shares | + | (579217547)<br>| &nbsp;&nbsp;&nbsp; (1018306981)<br>|
| **Total distributions** |  | **($1582936768)**<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 |  | 6815380940 | &nbsp;&nbsp;&nbsp; 21209423861 |
| Investor Shares |  | 27504565533 | &nbsp;&nbsp;&nbsp; 42464021485 |
| Ultra Shares | + | 24296322731 | &nbsp;&nbsp;&nbsp; 38403916158 |
| **Total shares sold** |  | **58616269204** | &nbsp;&nbsp;&nbsp; **102077361504** |
| **Shares Reinvested** |  |  |  |
| Sweep Shares |  | 366568141 | &nbsp;&nbsp;&nbsp; 927952937 |
| Investor Shares |  | 394830005 | &nbsp;&nbsp;&nbsp; 858290525 |
| Ultra Shares | + | 423883754 | &nbsp;&nbsp;&nbsp; 847095118 |
| **Total shares reinvested** |  | **1185281900** | &nbsp;&nbsp;&nbsp; **2633338580** |
| **Shares Redeemed** |  |  |  |
| Sweep Shares |  | (7037967332)<br>| &nbsp;&nbsp;&nbsp; (20080939760)<br>|
| Investor Shares |  | (25162302158)<br>| &nbsp;&nbsp;&nbsp; (36815671952)<br>|
| Ultra Shares | + | (21313950798)<br>| &nbsp;&nbsp;&nbsp; (29128788221)<br>|
| **Total shares redeemed** |  | **(53514220288)**<br>| &nbsp;&nbsp;&nbsp; **(86025399933)**<br>|
| **Net transactions in fund shares** |  | **6287330816** | &nbsp;&nbsp;&nbsp; **18685300151** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $74797809525 | &nbsp;&nbsp;&nbsp; $56112555982 |
| Total increase  | + | 6287666293 | &nbsp;&nbsp;&nbsp; 18685253543 |
| **End of period** |  | **$81085475818** | &nbsp;&nbsp;&nbsp; **$74797809525** |

---

&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.

<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*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**19**

------

Schwab U.S. Treasury Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>23</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.00 %<sup>4</sup><br>| 4.97<br> %<br>| 4.72<br> %<br>| 1.26<br> %<br>| 0.02 %<sup>3</sup><br>| 0.27<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.28 %<sup>6,7</sup><br>| 0.05 %<sup>7</sup><br>| 0.23 %<sup>7,8</sup><br>|
| Total expenses | 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>6</sup><br>| 0.35<br> %<br>| 0.45<br> %<br>|
| Net investment income (loss) | 3.99 %<sup>5</sup><br>| 4.84<br> %<br>| 4.71<br> %<br>| 1.26<br> %<br>| 0.02<br> %<br>| 0.15<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $38397 | &nbsp;&nbsp; $35547 | &nbsp;&nbsp; $23422 | &nbsp;&nbsp; $7959 | &nbsp;&nbsp; $7468 | &nbsp;&nbsp; $11297 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>8</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**20**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>34</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.07 %<sup>5</sup><br>| 5.13<br> %<br>| 4.87<br> %<br>| 1.38<br> %<br>| 0.02 %<sup>4</sup><br>| 0.00 %<sup>5,6</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>7</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>8,9</sup><br>| 0.05 %<sup>9</sup><br>| 0.12 %<sup>7,9</sup><br>|
| Total expenses | 0.20 %<sup>7</sup><br>| 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>8</sup><br>| 0.20<br> %<br>| 0.21 %<sup>7</sup><br>|
| Net investment income (loss) | 4.14 %<sup>7</sup><br>| 4.98<br> %<br>| 4.89<br> %<br>| 1.58<br> %<br>| 0.02<br> %<br>| 0.01 %<sup>7</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $54054 | &nbsp;&nbsp; $49370 | &nbsp;&nbsp; $29519 | &nbsp;&nbsp; $6176 | &nbsp;&nbsp; $3850 | &nbsp;&nbsp; $2260 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</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>5</sup> Not annualized.

<sup>6</sup> Percentage was less than 0.005%.

<sup>7</sup> Annualized.

<sup>8</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>9</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**21**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 110.7% OF NET ASSETS | **U.S. TREASURY DEBT** 110.7% OF NET ASSETS | **U.S. TREASURY DEBT** 110.7% OF NET ASSETS | **U.S. TREASURY DEBT** 110.7% OF NET ASSETS | **U.S. TREASURY DEBT** 110.7% OF NET ASSETS | **U.S. TREASURY DEBT** 110.7% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
| <br>*(a)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10124913000 | &nbsp;&nbsp; 10124913000 |
| <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1800000000 | &nbsp;&nbsp; 1799595000 |
| <br>*(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499886111 |
| <br>*(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 2300000000 | &nbsp;&nbsp; 2299472055 |
| <br>*(a)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 16008000 | &nbsp;&nbsp; 16004311 |
| <br>*(a)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 999768333 |
| <br>*(a)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1740000000 | &nbsp;&nbsp; 1739594975 |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 2709510000 | &nbsp;&nbsp; 2708878110 |
| <br>*(a)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199840556 |
| <br>*(a)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 2800000000 | &nbsp;&nbsp; 2797749695 |
| <br>*(a)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 2445000000 | &nbsp;&nbsp; 2443013191 |
| <br>*(a)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 2550000000 | &nbsp;&nbsp; 2547922458 |
| <br>*(a)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 2700000000 | &nbsp;&nbsp; 2697795971 |
| <br>*(a)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 2000000000 | &nbsp;&nbsp; 1997957500 |
| <br>*(a)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 6200000000 | &nbsp;&nbsp; 6193625000 |
| <br>*(a)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499490000 |
| <br>*(a)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349642125 |
| <br>*(a)* | &nbsp;&nbsp; 4.06% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 748818750 |
| <br>*(a)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199683833 |
| <br>*(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199681889 |
| <br>*(a)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 5615000000 | &nbsp;&nbsp; 5605972115 |
| <br>*(a)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 2350000000 | &nbsp;&nbsp; 2346207224 |
| <br>*(a)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 998384167 |
| <br>*(a)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1497310000 |
| <br>*(a)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 25091000 | &nbsp;&nbsp; 25045741 |
| <br>*(a)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 1028990000 | &nbsp;&nbsp; 1027124137 |
| <br>*(a)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49908800 |
| <br>*(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249542222 |
| <br>*(a)* | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 4633000 | &nbsp;&nbsp; 4624471 |
| <br>*(a)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349349778 |
| <br>*(a)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 4735000000 | &nbsp;&nbsp; 4723785936 |
| <br>*(a)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 997625830 |
| <br>*(a)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 4000000000 | &nbsp;&nbsp; 3990487300 |
| <br>*(a)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 2200000000 | &nbsp;&nbsp; 2194738332 |
| <br>*(a)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249401354 |
| <br>*(a)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1496386250 |
| <br>*(a)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 2000000000 | &nbsp;&nbsp; 1994799444 |
| <br>*(a)* | &nbsp;&nbsp; 4.11% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299214167 |
| <br>*(a)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149605646 |
| <br>*(a)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 8059000 | &nbsp;&nbsp; 8037568 |

---

*See financial notes*

**22**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(a)* | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348916283 |
| <br>*(a)* | &nbsp;&nbsp; 4.01% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 6250000000 | &nbsp;&nbsp; 6230553107 |
| <br>*(a)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 996885000 |
| <br>*(a)* | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 697811061 |
| <br>*(a)* | &nbsp;&nbsp; 4.04% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348902672 |
| <br>*(a)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249210069 |
| <br>*(a)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 3125000000 | &nbsp;&nbsp; 3115107483 |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 529700000 | &nbsp;&nbsp; 525606680 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 396700000 | &nbsp;&nbsp; 390477893 |
|  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 109402520 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 441200000 | &nbsp;&nbsp; 442165298 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 91900000 | &nbsp;&nbsp; 91762547 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 611700000 | &nbsp;&nbsp; 600182552 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 284300000 | &nbsp;&nbsp; 282040810 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 558800000 | &nbsp;&nbsp; 558772274 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 115600000 | &nbsp;&nbsp; 115367450 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 247500000 | &nbsp;&nbsp; 242070568 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 216800000 | &nbsp;&nbsp; 214780513 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 189600000 | &nbsp;&nbsp; 189597570 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(b)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1349100000 | &nbsp;&nbsp; 1350029236 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 955100000 | &nbsp;&nbsp; 940357055 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 138300000 | &nbsp;&nbsp; 138163473 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 243500000 | &nbsp;&nbsp; 237710742 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 468500000 | &nbsp;&nbsp; 469664768 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 332100000 | &nbsp;&nbsp; 332809171 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 345000000 | &nbsp;&nbsp; 336548887 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 440900000 | &nbsp;&nbsp; 442228708 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 82829803 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 820500000 | &nbsp;&nbsp; 798274195 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 275800000 | &nbsp;&nbsp; 271770876 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(b)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 2677300000 | &nbsp;&nbsp; 2677532256 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 1358850000 | &nbsp;&nbsp; 1367399394 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 678425000 | &nbsp;&nbsp; 663856107 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 311930000 | &nbsp;&nbsp; 310461427 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 136225000 | &nbsp;&nbsp; 132106734 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 91300000 | &nbsp;&nbsp; 91991206 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 386951000 | &nbsp;&nbsp; 374836116 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 139250000 | &nbsp;&nbsp; 139967069 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(b)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 661500000 | &nbsp;&nbsp; 661347326 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(b)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 1431400000 | &nbsp;&nbsp; 1433467364 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(b)* | &nbsp;&nbsp; 4.34% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 2740300000 | &nbsp;&nbsp; 2740215871 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(b)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 1281210000 | &nbsp;&nbsp; 1281601050 |
| **Total U.S. Treasury Debt** <br>**(Cost $102,345,664,529)**<br>|  |  |  |  | &nbsp;&nbsp; **102345664529** |
| **Total Investments in Securities** <br>**(Cost $102,345,664,529)** | **Total Investments in Securities** <br>**(Cost $102,345,664,529)** | **Total Investments in Securities** <br>**(Cost $102,345,664,529)** | **Total Investments in Securities** <br>**(Cost $102,345,664,529)** | **Total Investments in Securities** <br>**(Cost $102,345,664,529)** | &nbsp;&nbsp; **102345664529** |

---

&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.

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**23**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

At June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**24**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $102345664529 |
| Cash |  | 349 |
| Receivables: |  |  |
| Fund shares sold |  | 548705912 |
| Interest |  | 132922359 |
| Prepaid expenses | + | 703727 |
| **Total assets** |  | **103027996876** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 9870464859 |
| Fund shares redeemed |  | 614152905 |
| Distributions to shareholders |  | 77702578 |
| Investment adviser and administrator fees |  | 13512933 |
| Shareholder service fees |  | 786769 |
| Accrued expenses | + | 359315 |
| **Total liabilities** |  | **10576979359** |
| **Net assets** |  | **$92451017517** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $92450562226 |
| Total distributable earnings | + | 455291 |
| **Net assets** |  | **$92451017517** |

---

&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 | $38396752067 |  | &nbsp;&nbsp;&nbsp;&nbsp; 38396023425 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $54054265450 |  | &nbsp;&nbsp;&nbsp;&nbsp; 54053507903 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**25**

------

Schwab U.S. Treasury Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$1917813247** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 84174773 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 27708442 |
| Registration fees |  | 1527000 |
| Portfolio accounting fees |  | 238655 |
| Custodian fees |  | 196610 |
| Shareholder reports |  | 142564 |
| Independent trustees' fees |  | 52954 |
| Professional fees |  | 50597 |
| Transfer agent fees  |  | 633 |
| Other expenses | + | 169658 |
| **Total expenses** |  | **114261886** |
| Expense reduction | – | 2378670 |
| **Net expenses** | – | **111883216** |
| **Net investment income** |  | **1805930031** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **455291** |
| **Increase in net assets resulting from operations** |  | **$1806385322** |

---

*See financial notes*

**26**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $1805930031 | &nbsp;&nbsp;&nbsp; $3326532723 |
| Net realized gains | + | 455291 | &nbsp;&nbsp;&nbsp; 235212 |
| **Increase in net assets from operations** |  | **$1806385322** | &nbsp;&nbsp;&nbsp; **$3326767935** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($736802217)<br>| &nbsp;&nbsp;&nbsp; ($1421784791)<br>|
| Ultra Shares | + | (1069127814)<br>| &nbsp;&nbsp;&nbsp; (1904949117)<br>|
| **Total distributions** |  | **($1805930031)**<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 |  | 30342077289 | &nbsp;&nbsp;&nbsp; 53416155560 |
| Ultra Shares | + | 47160023144 | &nbsp;&nbsp;&nbsp; 81811729811 |
| **Total shares sold** |  | **77502100433** | &nbsp;&nbsp;&nbsp; **135227885371** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 512867051 | &nbsp;&nbsp;&nbsp; 985660038 |
| Ultra Shares | + | 801394986 | &nbsp;&nbsp;&nbsp; 1433613125 |
| **Total shares reinvested** |  | **1314262037** | &nbsp;&nbsp;&nbsp; **2419273163** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (28004910821)<br>| &nbsp;&nbsp;&nbsp; (42277708040)<br>|
| Ultra Shares | + | (43277361317)<br>| &nbsp;&nbsp;&nbsp; (63394707061)<br>|
| **Total shares redeemed** |  | **(71282272138)**<br>| &nbsp;&nbsp;&nbsp; **(105672415101)**<br>|
| **Net transactions in fund shares** |  | **7534090332** | &nbsp;&nbsp;&nbsp; **31974743433** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $84916471894 | &nbsp;&nbsp;&nbsp; $52941694434 |
| Total increase  | + | 7534545623 | &nbsp;&nbsp;&nbsp; 31974777460 |
| **End of period** |  | **$92451017517** | &nbsp;&nbsp;&nbsp; **$84916471894** |

---

&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 Government Money Funds \| Semiannual Holdings and Financial Statements

**27**

------

Schwab Treasury Obligations Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.03 %<sup>3</sup><br>| 4.96<br> %<br>| 4.85<br> %<br>| 1.40<br> %<br>| 0.01<br> %<br>| 0.27<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>5,6</sup><br>| 0.06 %<sup>6</sup><br>| 0.30 %<sup>6,7</sup><br>|
| Total expenses | 0.34 %<sup>4</sup><br>| 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.46<br> %<br>|
| Net investment income (loss) | 4.06 %<sup>4</sup><br>| 4.85<br> %<br>| 4.81<br> %<br>| 1.92<br> %<br>| 0.01<br> %<br>| 0.27<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $37183 | &nbsp;&nbsp; $36001 | &nbsp;&nbsp; $35243 | &nbsp;&nbsp; $15372 | &nbsp;&nbsp; $5632 | &nbsp;&nbsp; $7573 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**28**Schwab Government Money Funds \| Semiannual 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>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.11 %<sup>4</sup><br>| 5.12<br> %<br>| 5.00<br> %<br>| 1.52<br> %<br>| 0.01<br> %<br>| 0.00 %<sup>4,5</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>6</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>7,8</sup><br>| 0.06 %<sup>8</sup><br>| 0.16 %<sup>6,8</sup><br>|
| Total expenses | 0.19 %<sup>6</sup><br>| 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>7</sup><br>| 0.20<br> %<br>| 0.21 %<sup>6</sup><br>|
| Net investment income (loss) | 4.21 %<sup>6</sup><br>| 5.00<br> %<br>| 4.94<br> %<br>| 2.53<br> %<br>| 0.01<br> %<br>| 0.01 %<sup>6</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $37086 | &nbsp;&nbsp; $33772 | &nbsp;&nbsp; $33877 | &nbsp;&nbsp; $17073 | &nbsp;&nbsp; $2244 | &nbsp;&nbsp; $1754 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</sup> Not annualized.

<sup>5</sup> Percentage was less than 0.005%.

<sup>6</sup> Annualized.

<sup>7</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>8</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**29**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 24.5% OF NET ASSETS | **U.S. TREASURY DEBT** 24.5% OF NET ASSETS | **U.S. TREASURY DEBT** 24.5% OF NET ASSETS | **U.S. TREASURY DEBT** 24.5% OF NET ASSETS | **U.S. TREASURY DEBT** 24.5% OF NET ASSETS | **U.S. TREASURY DEBT** 24.5% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 45100000 | &nbsp;&nbsp; 44767811 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 326800000 | &nbsp;&nbsp; 321674196 |
|  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 89511152 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 376400000 | &nbsp;&nbsp; 377222795 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 908100000 | &nbsp;&nbsp; 906608117 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 505000000 | &nbsp;&nbsp; 495491131 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 233800000 | &nbsp;&nbsp; 231941737 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 456900000 | &nbsp;&nbsp; 456877357 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 95800000 | &nbsp;&nbsp; 95607276 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 301700000 | &nbsp;&nbsp; 295064212 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 75200000 | &nbsp;&nbsp; 74514516 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 179500000 | &nbsp;&nbsp; 179489063 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1080600000 | &nbsp;&nbsp; 1081189218 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 967100000 | &nbsp;&nbsp; 952021113 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 297100000 | &nbsp;&nbsp; 296678434 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 199100000 | &nbsp;&nbsp; 194365929 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 381500000 | &nbsp;&nbsp; 382447979 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 271200000 | &nbsp;&nbsp; 271778909 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 280000000 | &nbsp;&nbsp; 273141208 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 358700000 | &nbsp;&nbsp; 359781537 |
|  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 67000000 | &nbsp;&nbsp; 66862612 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 665700000 | &nbsp;&nbsp; 647667793 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 223000000 | &nbsp;&nbsp; 219742432 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 2643800000 | &nbsp;&nbsp; 2644227746 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 1170000000 | &nbsp;&nbsp; 1177513814 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 141380285 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 251600000 | &nbsp;&nbsp; 250415530 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 111300000 | &nbsp;&nbsp; 107934781 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 74600000 | &nbsp;&nbsp; 75164775 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 316000000 | &nbsp;&nbsp; 306105418 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 114200000 | &nbsp;&nbsp; 114787675 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 622100000 | &nbsp;&nbsp; 621945896 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 1213900000 | &nbsp;&nbsp; 1215659892 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.34% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 2199300000 | &nbsp;&nbsp; 2199236047 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 1037700000 | &nbsp;&nbsp; 1038016553 |
| **Total U.S. Treasury Debt** <br>**(Cost $18,206,834,939)**<br>|  |  |  |  | &nbsp;&nbsp; **18206834939** |

---

*See financial notes*

**30**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

&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** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 75.6% OF NET ASSETS |
| **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** | **U.S. TREASURY REPURCHASE AGREEMENTS 75.6%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 06/24/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 450375375 | &nbsp;&nbsp; 450000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $459,000,039, 0.13% - 5.00%, due 09/30/25 - 02/15/54)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 379046217 | &nbsp;&nbsp; 379000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $386,580,055, 0.13% - 4.13%, due 11/30/26 - 02/15/51)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 316038622 | &nbsp;&nbsp; 316000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $322,320,011, 1.25% - 3.00%, due 02/15/47 - 05/15/52)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 140017072 | &nbsp;&nbsp; 140000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $142,817,437, 1.63% - 4.25%, due 11/30/26 - 05/15/49)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15585382 | &nbsp;&nbsp; 15583482 |
| (Collateralized by U.S. Treasury Securities valued at <br> $15,897,135, 1.13% - 4.38%, due 10/31/26 - 05/15/51)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 501015278 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $512,497,636, 0.00% - 6.00%, due 10/02/25 - 08/15/53)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 309037681 | &nbsp;&nbsp; 309000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $315,218,449, 1.25% - 4.00%, due 09/30/26 - 07/31/29)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 307037437 | &nbsp;&nbsp; 307000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $313,140,021, 0.63% - 1.88%, due 02/15/43 - 11/15/51)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 246029998 | &nbsp;&nbsp; 246000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $250,920,065, 0.13% - 4.50%, due 07/31/25 - 07/15/34)<br>|  |  |  |  |  |  |
| Issued 06/02/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 401440000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $408,000,002, 0.13% - 4.88%, due 07/31/25 - 02/15/55)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5661499319 | &nbsp;&nbsp; 5650000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $5,763,000,006, 0.00% - 5.00%, due 07/15/25 - <br> 05/15/55)<br>|  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/09/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 604248000 | &nbsp;&nbsp; 600000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $612,000,022, 0.00% - 4.88%, due 07/31/25 - 02/15/55)<br>|  |  |  |  |  |  |
| Issued 06/17/25, repurchase date 07/17/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 501200000 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,009, 0.50% - 4.13%, due 01/15/26 - 02/15/51)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**31**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1127137431 | &nbsp;&nbsp; 1127000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,149,540,047, 1.25% - 4.88%, due 09/30/27 - <br> 08/31/29)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/07/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7477362802 | &nbsp;&nbsp; 7471000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $7,620,420,007, 0.00% - 6.63%, due 07/03/25 - <br> 02/15/48)<br>|  |  |  |  |  |  |
| Issued 05/07/25, repurchase date 08/08/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 252809375 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,029,709, 0.00%, due 07/03/25 - 05/14/26)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 84010243 | &nbsp;&nbsp; 84000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $85,690,480, 3.75% - 4.25%, due 04/15/28 - 06/30/29)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500060972 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,062,211, 0.50% - 4.50%, due 07/15/26 - 01/31/30)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 1000841944 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,858,823, 1.88% - 4.75%, due 02/15/42 - <br> 05/15/55)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 72008780 | &nbsp;&nbsp; 72000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $73,440,003, 2.00% - 3.88%, due 02/15/28 - 08/15/51)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 140017111 | &nbsp;&nbsp; 140000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $142,817,548, 0.00% - 4.50%, due 09/16/25 - 02/15/44)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11037302861 | &nbsp;&nbsp; 11036000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $11,037,302,924, 0.63%, due 05/15/30)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1876229289 | &nbsp;&nbsp; 1876000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,913,520,062, 1.75% - 4.25%, due 01/15/28 - <br> 11/15/34)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1405171722 | &nbsp;&nbsp; 1405000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,433,100,117, 1.38% - 4.75%, due 05/15/40 - <br> 08/15/41)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 632077244 | &nbsp;&nbsp; 632000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $644,640,026, 0.13% - 4.25%, due 06/30/31 - 07/15/31)<br>|  |  |  |  |  |  |

---

*See financial notes*

**32**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/24/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000836111 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,020,000,005, 0.13% - 3.50%, due 08/15/30 - <br> 08/15/49)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 520063411 | &nbsp;&nbsp; 520000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $530,400,021, 0.13% - 2.63%, due 02/15/29 - 01/15/35)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 2001683889 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,040,000,046, 0.13% - 5.00%, due 06/30/27 - <br> 05/15/53)<br>|  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 400291333 | &nbsp;&nbsp; 400000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $408,000,066, 3.38% - 4.25%, due 01/31/30 - 05/15/33)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1756214134 | &nbsp;&nbsp; 1756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,791,120,068, 1.13% - 5.25%, due 09/30/26 - <br> 11/15/52)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1756214134 | &nbsp;&nbsp; 1756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,791,120,055, 0.63% - 6.13%, due 01/15/26 - <br> 11/30/29)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 773094263 | &nbsp;&nbsp; 773000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $788,460,063, 0.63% - 4.63%, due 12/31/26 - 09/30/28)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1756214134 | &nbsp;&nbsp; 1756000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,791,120,056, 1.25% - 4.75%, due 01/15/28 - <br> 11/15/44)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 246029998 | &nbsp;&nbsp; 246000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $250,920,045, 1.25% - 4.75%, due 05/15/33 - 08/15/53)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 502477083 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,090, 0.00% - 5.00%, due 10/02/25 - 08/15/54)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 428052192 | &nbsp;&nbsp; 428000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $436,613,287, 0.13% - 4.88%, due 07/15/26 - 02/15/53)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5010152778 | &nbsp;&nbsp; 5000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $5,124,975,859, 0.00% - 4.88%, due 07/03/25 - <br> 05/15/55)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1252538194 | &nbsp;&nbsp; 1250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,281,243,960, 0.00% - 5.00%, due 08/12/25 - <br> 08/15/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**33**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/24/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250208542 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,000,090, 0.00% - 4.75%, due 07/10/25 - 02/15/45)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 295035974 | &nbsp;&nbsp; 295000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $300,900,093, 0.00% - 5.25%, due 07/31/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 500421944 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,007, 0.00% - 4.88%, due 08/21/25 - 05/15/54)<br>|  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 1801314000 | &nbsp;&nbsp; 1800000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,836,000,086, 0.00% - 5.25%, due 08/07/25 - <br> 11/15/54)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/07/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 500425833 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,059, 0.00% - 4.75%, due 07/17/25 - 11/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **56135583482** |
| **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | **Total Repurchase Agreements** <br>**(Cost $56,135,583,482)** | &nbsp;&nbsp; **56135583482** |
| **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | **Total Investments in Securities** <br>**(Cost $74,342,418,421)** | &nbsp;&nbsp; **74342418421** |

---

&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 June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**34**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $18206834939 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 56135583482 |
| Receivables: |  |  |
| Fund shares sold |  | 397061671 |
| Interest |  | 149717681 |
| Prepaid expenses | + | 514736 |
| **Total assets** |  | **74889712509** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 537527033 |
| Distributions to shareholders |  | 69962314 |
| Investment adviser and administrator fees |  | 11093860 |
| Shareholder service fees |  | 761909 |
| Accrued expenses | + | 1392028 |
| **Total liabilities** |  | **620737144** |
| **Net assets** |  | **$74268975365** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $74268534255 |
| Total distributable earnings | + | 441110 |
| **Net assets** |  | **$74268975365** |

---

&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 | $37183079877 |  | &nbsp;&nbsp;&nbsp;&nbsp; 37182748745 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $37085895488 |  | &nbsp;&nbsp;&nbsp;&nbsp; 37085598342 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**35**

------

Schwab Treasury Obligations Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$1585886722** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 68523154 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 27522529 |
| Registration fees |  | 636067 |
| Portfolio accounting fees |  | 211541 |
| Custodian fees |  | 185777 |
| Shareholder reports |  | 157001 |
| Professional fees |  | 50245 |
| Independent trustees' fees |  | 49487 |
| Transfer agent fees  |  | 634 |
| Other expenses | + | 164036 |
| **Total expenses** |  | **97500471** |
| Expense reduction | – | 1454788 |
| **Net expenses** | – | **96045683** |
| **Net investment income** |  | **1489841039** |
| **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** |  | **$1490321118** |

---

*See financial notes*

**36**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $1489841039 | &nbsp;&nbsp;&nbsp; $3356587389 |
| Net realized gains | + | 480079 | &nbsp;&nbsp;&nbsp; 2403 |
| **Increase in net assets from operations** |  | **$1490321118** | &nbsp;&nbsp;&nbsp; **$3356589792** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($744474109)<br>| &nbsp;&nbsp;&nbsp; ($1718638426)<br>|
| Ultra Shares | + | (745366930)<br>| &nbsp;&nbsp;&nbsp; (1637990988)<br>|
| **Total distributions** |  | **($1489841039)**<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 |  | 29583794522 | &nbsp;&nbsp;&nbsp; 53742074789 |
| Ultra Shares | + | 31999997325 | &nbsp;&nbsp;&nbsp; 52176367624 |
| **Total shares sold** |  | **61583791847** | &nbsp;&nbsp;&nbsp; **105918442413** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 503020358 | &nbsp;&nbsp;&nbsp; 1157516037 |
| Ultra Shares | + | 544053611 | &nbsp;&nbsp;&nbsp; 1199805657 |
| **Total shares reinvested** |  | **1047073969** | &nbsp;&nbsp;&nbsp; **2357321694** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (28905130422)<br>| &nbsp;&nbsp;&nbsp; (54141891654)<br>|
| Ultra Shares | + | (29230022487)<br>| &nbsp;&nbsp;&nbsp; (53481797303)<br>|
| **Total shares redeemed** |  | **(58135152909)**<br>| &nbsp;&nbsp;&nbsp; **(107623688957)**<br>|
| **Net transactions in fund shares** |  | **4495712907** | &nbsp;&nbsp;&nbsp; **652075150** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $69772782379 | &nbsp;&nbsp;&nbsp; $69120746851 |
| Total increase  | + | 4496192986 | &nbsp;&nbsp;&nbsp; 652035528 |
| **End of period** |  | **$74268975365** | &nbsp;&nbsp;&nbsp; **$69772782379** |

---

&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 Government Money Funds \| Semiannual Holdings and Financial Statements

**37**

------

Schwab Government Money Funds

Financial Notes, unaudited

------

&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 Government Money Fund** | 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 offers three share classes: Sweep Shares, Investor Shares and Ultra Shares. Schwab U.S. Treasury Money Fund and Schwab Treasury Obligations Money Fund, each offer 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 (NAV), 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 (the Board) 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 "Fund 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 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.

------

**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 has designated authority to a Valuation Designee, the funds' investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

**38**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

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

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 (ETFs) and futures contracts. Mutual funds and ETFs are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2 or Level 3 in the fair value hierarchy.

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

As disclosed in the Portfolio Holdings, as of June 30, 2025, each of the fund's investments were classified as Level 2.

**(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 a 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. 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.

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**39**

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

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

As of June 30, 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 Government Money Fund | $50855462149 |
| Schwab Treasury Obligations Money Fund | 56135583482 |

---

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

**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).

**(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 trusts generally are allocated among those funds in proportion to their average daily net assets.

For funds offering 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:**

The funds declare distributions from net investment income, if any, every day they are 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.

**40**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

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

**(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 of the 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.

**(k) Recent Accounting Pronouncements:**

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and with early adoption permitted. At this time, management is evaluating the impact of this amendment but believes it will not have a material impact on the financial statements and income tax disclosures.

------

**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 an 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 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. 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 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

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**41**

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

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

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 the 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 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 |

---

**Contractual Expense Limitation**

The investment adviser and its affiliates have made an additional agreement with each fund, 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, to limit the total annual fund operating expenses charged, excluding interest, taxes, and certain non-routine expenses (expense limitation), as follows:

---

| | |
|:---|:---|
| 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>|

---

**42**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

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

**Investments from Affiliates**

Certain funds in the Fund Complex may own shares of other funds in the Fund Complex. The table below reflects the percentage of shares of the Schwab Government Money Fund, Ultra Shares that are owned by other funds in the Fund Complex as of June 30, 2025:

---

| | |
|:---|:---|
| 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 certain other funds in the Fund Complex in accordance with procedures adopted by the Board pursuant to Rule 17a-7 under the 1940 Act. When one fund is seeking to sell a security that another 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. For the period ended June 30, 2025, the funds had no direct security transactions with other funds in the Fund Complex.

**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 Fund 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. The funds had no interfund borrowing or lending activity during the period.

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**43**

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

**4. Board of Trustees:**

The Board 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 Fund Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), maturing on September 25, 2025. 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 Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, maturing on September 25, 2025. 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.

------

**6. Federal Income Taxes:**

As of June 30, 2025, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab Government Money Fund | $81741960733 |
| Schwab U.S. Treasury Money Fund | 102345664529 |
| Schwab Treasury Obligations Money Fund | 74342418421 |

---

The tax basis components of distributions and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2025. The tax basis components of distributions paid during the fiscal year ended December 31, 2024 were as follows:

---

| | |
|:---|:---|
|  | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | ORDINARY <br>INCOME <br>|
| Schwab Government Money Fund | $3156929056 |
| Schwab U.S. Treasury Money Fund | 3326733908 |
| Schwab Treasury Obligations Money Fund | 3356629414 |

---

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.

As of December 31, 2024, 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. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the fiscal year ended December 31, 2024, the funds did not incur any interest or penalties.

**44**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

**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.

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.The Surviving Fund acquired capital loss carryovers aggregating $3,662 from the Acquired Fund.

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**45**

------

Schwab Government Money Funds

Financial Notes, unaudited (continued)

------

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

**7. Reorganization (continued):** 

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 year 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.

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.

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.

**46**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

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

------

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

Not applicable.

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**47**

------

Proxy Disclosures for Open-End Management Investment Companies

------

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

Not applicable.

**48**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

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).

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**49**

------

Schwab Government Money Funds

Investment Advisory Agreement Approval

------

The Investment Company Act of 1940, as amended (the 1940 Act), requires that the continuation of a fund's investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or "interested persons" of any party thereto (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund's trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory and administration agreement (the Agreement) between The Charles Schwab Family of Funds (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, and Schwab Treasury Obligations Money Fund (the Funds), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser's affiliates, personnel, business goals and priorities, profitability, oversight of third-party service providers, corporate structure and operations. As part of the renewal process, the Independent Trustees' legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to the Funds' operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees' legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and answer sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.

The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance

of the Agreement with respect to the Funds at meetings held on May 7, 2025 and June 5, 2025, and approved the renewal of the Agreement with respect to the Funds for an additional one-year term at the meeting on June 5, 2025 called for the purpose of voting on such approval.

The Board's approval of the continuance of the Agreement with respect to the Funds was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:

1. the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds;

2. each Fund's investment performance and how it compared to that of certain other comparable mutual funds and benchmark data;

3. each Fund's expenses and how those expenses compared to those of certain other similar mutual funds;

4. the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and

5. the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, the investment adviser's experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Funds' portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, and vendor and risk oversight. The Trustees also considered the investment adviser's continued investment in its infrastructure, including the investment adviser's technology and use of data, business continuity, cybersecurity, due diligence, risk management processes, and information security programs. The Trustees considered Schwab's overall financial condition and reputation as a full service brokerage firm, as well as the wide range of products, services, and account features that benefit Fund shareholders who are brokerage clients of Schwab. Following such evaluation, the Board concluded, within the context of its full deliberations,

**50**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Government Money Funds

that the nature, extent and quality of services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds supported renewal of the Agreement with respect to the Funds.

**Fund Performance.** The Board considered each Fund's performance in determining whether to renew the Agreement with respect to such Fund. Specifically, the Trustees considered each Fund's performance relative to a peer category of other mutual funds and applicable indices/benchmarks, in light of portfolio yield and the market environment, as well as in consideration of each Fund's investment style and strategy. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of each Fund, the Trustees considered the risk profile for such Fund and such Fund's operation as a government money market fund within the meaning of Rule 2a-7 under the 1940 Act. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser's profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Following such evaluation, the Board concluded, within the context of its full deliberations, that the performance of such Fund supported renewal of the Agreement with respect to such Fund.

**Fund Expenses.** With respect to each Fund's expenses, the Trustees considered the rate of compensation called for by the Agreement and each Fund's net operating expense ratio, in each case, in comparison to those of other similar mutual funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Funds and provision of services as well as the competitive marketplace for financial products. The Trustees considered the effects of the investment adviser and its affiliates practice of waiving certain fees to prevent total annual operating expenses of the Funds from exceeding a specified cap. The Trustee's also considered the investment adviser's contractual commitment to limit the total annual operating expenses of the Funds for so long as the investment adviser serves as the adviser to the Funds, as well as historically using voluntary waivers (which the investment adviser will not recoup) to maintain a certain yield. The Trustees also considered fees charged by the investment adviser to other mutual funds that it manages. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of such Fund are reasonable and supported renewal of the Agreement with respect to such Fund.

**Profitability.** The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. The Trustees reviewed

profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund shareholders of being part of the Schwab fund complex, including the allocations of certain costs across the Funds and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Funds, such as whether, by virtue of its management of the Funds, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Funds under the Agreement and other service agreements were reasonable in light of the quality of all services rendered to the Funds by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Funds. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to such Fund.

**Economies of Scale.** Although the Trustees recognized the difficulty of determining economies of scale with precision, the Trustees considered the potential existence of any economies of scale and whether those are passed along to a Fund's shareholders through (i) the enhancement of services provided to the Funds in return for fees paid, including through the investment adviser's continued investment in its infrastructure and use of data and technology, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Funds and their shareholders; (ii) fee waivers or expense caps by the investment adviser and its affiliates for those funds in the Schwab fund complex with such features and (iii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees acknowledged that the investment adviser has invested in its infrastructure, as discussed above, over time and that the investment adviser's internal costs of providing investment management, technology, administrative, legal and compliance services to the Funds continue to increase as a result of regulatory or other developments. The Trustees considered that the investment adviser and its affiliates may employ contractual expense caps to protect shareholders from higher fees when fund assets are relatively small, for example, in the case of newer funds or funds with investment strategies that are from time to time out of favor, because, among other reasons, shareholders may benefit from the continued availability of such funds at subsidized expense levels. Based on this evaluation, the Board concluded, within the context of its full deliberations, that each Fund obtains reasonable benefits from economies of scale.

\* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*

In the course of their deliberations, the Trustees may have accorded different weights to various factors and did not

Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

**51**

------

Schwab Government Money Funds

identify any particular information or factor that was all important or controlling. Based on the Trustees' deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, approved the continuation of the Agreement with respect to the Funds and concluded that the compensation under the Agreement with

respect to the Funds is fair and reasonable in light of the services provided and the related expenses borne by the investment adviser and its affiliates and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

**52**Schwab Government Money Funds \| Semiannual Holdings and Financial Statements

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g13960img134bde2b1.jpg)

MFR32957-20

00315733

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g56984img7c2406021.jpg)

**Semiannual Holdings and Financial Statements** \| June 30, 2025

Schwab Municipal Money Fund

Schwab AMT Tax-Free Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| **[Item 7 - Financial Statements and Financial Highlights for Open-End](#xx_9a25f1c1-1f24-47cf-9ab2-8b90ecedade9_1)**<br> **[Management Investment Companies](#xx_9a25f1c1-1f24-47cf-9ab2-8b90ecedade9_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_9a25f1c1-1f24-47cf-9ab2-8b90ecedade9_1) <br>|  |
| [Schwab Municipal Money Fund](#xx_9a25f1c1-1f24-47cf-9ab2-8b90ecedade9_1) | 2 |
| [Schwab AMT Tax-Free Money Fund](#xx_36dec87f-ef91-4119-bb35-2fc0341affac_1) | 56 |
| [Financial Notes](#xx_d59500bc-8014-453f-aaea-92334f86e341_1) | 86 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_f8e86130-b187-462c-bcb7-90dca301cb5f_1)**<br> **[Management Investment Companies](#xx_f8e86130-b187-462c-bcb7-90dca301cb5f_1)**<br>| 92 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_0f231b2f-8e59-4dd9-8a00-9ac57577d888_1)**<br> **[Companies](#xx_0f231b2f-8e59-4dd9-8a00-9ac57577d888_1)**<br>| 93 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_ddeb71e7-2cbb-4ea2-92e8-a1b15f7f79c1_1)**<br> **[Management Investment Companies](#xx_ddeb71e7-2cbb-4ea2-92e8-a1b15f7f79c1_1)**<br>| 94 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_96c69d73-0109-4a6f-b433-8e90aef5fe8d_1)**<br> **[Contract](#xx_96c69d73-0109-4a6f-b433-8e90aef5fe8d_1)** <br>|  |
| [Investment Advisory Agreement Approval](#xx_96c69d73-0109-4a6f-b433-8e90aef5fe8d_1) | 95  |

---

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

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

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**1**

------

Schwab Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; — |
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.25 %<sup>3</sup><br>| 3.08<br> %<br>| 3.05<br> %<br>| 0.92<br> %<br>| 0.02<br> %<br>| 0.35<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.32 %<sup>5,6</sup><br>| 0.11 %<sup>6</sup><br>| 0.29 %<sup>6,7</sup><br>|
| Total expenses | 0.35 %<sup>4</sup><br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.45<br> %<br>|
| Net investment income (loss) | 2.50 %<sup>4</sup><br>| 3.03<br> %<br>| 3.01<br> %<br>| 1.07<br> %<br>| 0.01<br> %<br>| 0.35<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $4367 | &nbsp;&nbsp; $4346 | &nbsp;&nbsp; $4003 | &nbsp;&nbsp; $2954 | &nbsp;&nbsp; $1597 | &nbsp;&nbsp; $2041 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**2**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual 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>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; — |
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.32 %<sup>3</sup><br>| 3.24<br> %<br>| 3.21<br> %<br>| 1.05<br> %<br>| 0.02<br> %<br>| 0.44<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>5,6</sup><br>| 0.11 %<sup>6</sup><br>| 0.19 %<sup>6,7</sup><br>|
| Total expenses | 0.20 %<sup>4</sup><br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>5</sup><br>| 0.20<br> %<br>| 0.30<br> %<br>|
| Net investment income (loss) | 2.65 %<sup>4</sup><br>| 3.18<br> %<br>| 3.14<br> %<br>| 1.18<br> %<br>| 0.01<br> %<br>| 0.45<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $12690 | &nbsp;&nbsp; $13210 | &nbsp;&nbsp; $12547 | &nbsp;&nbsp; $11582 | &nbsp;&nbsp; $6405 | &nbsp;&nbsp; $9948 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**3**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 100.4% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.4% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.4% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.4% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.4% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.4% 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; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10550000 | &nbsp;&nbsp; 10550000 |
| **Birmingham IDB** |  |  |  |  |  |
| RB (Culton Properties) Series 2009A (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7490000 |
| Gas RB Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023B <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5900000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| CP  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| CP  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Mobile Cnty IDA** |  |  |  |  |  |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 <br> (**LOC**: NORDEA BANK ABP) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4175000 | &nbsp;&nbsp; 4175000 |
| **Montgomery Downtown Redevelopment Auth** |  |  |  |  |  |
| RB (Southern Poverty Law Center) Series 2013<br> *(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1245000 | &nbsp;&nbsp; 1245000 |

---

*See financial notes*

**4**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
|  |  |  |  |  | &nbsp;&nbsp; **221560000** |
| **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** | **ALASKA 0.0%** |
| **Alaska Housing Finance Corp** |  |  |  |  |  |
| State Capital Project Bonds II Series 2021A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 651047 |
| **Valdez** |  |  |  |  |  |
| Refunding RB (ExxonMobil) Series 1993B<br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
|  |  |  |  |  | &nbsp;&nbsp; **2351047** |
| **ARIZONA 0.9%** | **ARIZONA 0.9%** | **ARIZONA 0.9%** | **ARIZONA 0.9%** | **ARIZONA 0.9%** | **ARIZONA 0.9%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.12% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &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; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3415000 | &nbsp;&nbsp; 3415000 |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| CP (Banner Health)  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| **Pinal Cnty IDA** |  |  |  |  |  |
| Solid Waste Disposal RB (Feenstra Investments LLC) Series 2002 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 2.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Electric System RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6745000 | &nbsp;&nbsp; 6745000 |
|  |  |  |  |  | &nbsp;&nbsp; **148603000** |
| **ARKANSAS 0.6%** | **ARKANSAS 0.6%** | **ARKANSAS 0.6%** | **ARKANSAS 0.6%** | **ARKANSAS 0.6%** | **ARKANSAS 0.6%** |
| **Arkansas Development Finance Auth** |  |  |  |  |  |
| RB (Green Bay Packaging Inc) Series 2025 (**LOC**: WELLS FARGO BANK <br> NA)<br>*(a)(b)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 97500000 | &nbsp;&nbsp; **97500000** |
| **CALIFORNIA 2.4%** | **CALIFORNIA 2.4%** | **CALIFORNIA 2.4%** | **CALIFORNIA 2.4%** | **CALIFORNIA 2.4%** | **CALIFORNIA 2.4%** |
| **California** |  |  |  |  |  |
| GO Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150813 |
| GO Bonds (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4915000 | &nbsp;&nbsp; 4915000 |
| **California Public Finance Auth** |  |  |  |  |  |
| RB (Sharp Healthcare) Series 2017A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| **California State Univ** |  |  |  |  |  |
| CP Series A1 (**LOC**: BARCLAYS BANK PLC) | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**5**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 6135000 | &nbsp;&nbsp; 6135000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 19500000 | &nbsp;&nbsp; 19500000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.87% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38500000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3629261 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.87% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **East Bay Municipal Utility District** |  |  |  |  |  |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA) | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2025<br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 66180400 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Sub RB Series 2017A, 2018C, 2019F, 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| **San Diego Cnty Regional Transportation Commission** |  |  |  |  |  |
| Sales Tax RB Series 2016A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4795000 | &nbsp;&nbsp; 4795000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13465000 | &nbsp;&nbsp; 13465000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16485000 | &nbsp;&nbsp; 16485000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 55045000 | &nbsp;&nbsp; 55045000 |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28985000 | &nbsp;&nbsp; 28985000 |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1865000 | &nbsp;&nbsp; 1865000 |
| RB 2nd Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3185000 | &nbsp;&nbsp; 3185000 |
| RB 2nd Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9435000 | &nbsp;&nbsp; 9435000 |
| Refunding RB 2nd Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7810000 | &nbsp;&nbsp; 7810000 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Refunding RB 2nd Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11840000 | &nbsp;&nbsp; 11840000 |
| **San Joaquin Valley Clean Energy Auth** |  |  |  |  |  |
| Clean Energy RB Series 2025A (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4175000 | &nbsp;&nbsp; 4175000 |
| **Univ of California** |  |  |  |  |  |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8875000 | &nbsp;&nbsp; 8875000 |
|  |  |  |  |  | &nbsp;&nbsp; **403635474** |

---

*See financial notes*

**6**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Advent Health) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Hospital RB (Advent Health) Series 2019A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3905000 | &nbsp;&nbsp; 3905000 |
| RB (Children's Hospital Colorado) Series 2016B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 68930000 | &nbsp;&nbsp; 68930000 |
| RB (Intermountain Healthcare) Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| RB (Intermountain Healthcare) Series 2024E (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| RB (SCL Health System) Series 2016D <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp; 9300000 |
| **Colorado Housing & Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Terrace Park Apartments) Series 2007 (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.07% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10410000 | &nbsp;&nbsp; 10410000 |
| S/F Mortgage Bonds Class I Series 2023C  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 319944 |
| **Colorado Regional Transportation District** |  |  |  |  |  |
| Sales Tax Refunding RB (FasTracks) Series 2007A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Sales Tax Refunding RB Series 2007A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| **Denver** |  |  |  |  |  |
| Airport System RB Series 2018A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Airport System RB Series 2022A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 20580000 | &nbsp;&nbsp; 20580000 |
| Airport System RB Series 2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1811859 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15750000 | &nbsp;&nbsp; 15750000 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.04% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| Airport System RB Series 2022D (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Airport System Sub RB Series 2018A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11185000 | &nbsp;&nbsp; 11185000 |
| **Denver Airport** |  |  |  |  |  |
| Airport System RB Series 2022A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20615000 | &nbsp;&nbsp; 20615000 |
| Airport System Sub RB Series 2018A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4420000 | &nbsp;&nbsp; 4420000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| GO Bonds Series 2025C (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| GO Refunding Bonds Series 2016  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140943 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 5875000 | &nbsp;&nbsp; 5875000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Water Refunding RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018C (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
|  |  |  |  |  | &nbsp;&nbsp; **293447746** |
| **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; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 84250000 | &nbsp;&nbsp; 84250000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**7**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2018C4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12900000 | &nbsp;&nbsp; 12900000 |
| Housing Mortgage Finance Bonds Series 2020E2  | &nbsp;&nbsp; 1.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 593651 |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Housing Mortgage Finance Bonds Series 2025C3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Darien** |  |  |  |  |  |
| GO BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20147241 |
|  |  |  |  |  | &nbsp;&nbsp; **155890892** |
| **DELAWARE 1.2%** | **DELAWARE 1.2%** | **DELAWARE 1.2%** | **DELAWARE 1.2%** | **DELAWARE 1.2%** | **DELAWARE 1.2%** |
| **BlackRock Long Term Municipal Advantage Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12550000 | &nbsp;&nbsp; 12550000 |
| **New Castle Cnty** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 2002<br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5185000 | &nbsp;&nbsp; 5185000 |
|  |  |  |  |  | &nbsp;&nbsp; **206535000** |
| **DISTRICT OF COLUMBIA 1.5%** | **DISTRICT OF COLUMBIA 1.5%** | **DISTRICT OF COLUMBIA 1.5%** | **DISTRICT OF COLUMBIA 1.5%** | **DISTRICT OF COLUMBIA 1.5%** | **DISTRICT OF COLUMBIA 1.5%** |
| **District Columbia Income Tax Revenue** |  |  |  |  |  |
| Income Tax Secured RB 2022A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8755000 | &nbsp;&nbsp; 8755000 |
| **District of Columbia** |  |  |  |  |  |
| GO Bonds Series 2017B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42000000 |
| GO Bonds Series 2023A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Refunding Bonds Series 2017C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12325000 | &nbsp;&nbsp; 12325000 |
| GO Refunding Bonds Series 2024C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10071492 |
| Income Tax Secured RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 19343243 |
| Income Tax Secured Refunding RB Series 2025A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4620000 | &nbsp;&nbsp; 4620000 |
| **District of Columbia HFA** |  |  |  |  |  |
| M/F Housing RB (Pentacle Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7925000 | &nbsp;&nbsp; 7925000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A <br> *(c)* | &nbsp;&nbsp; 2.88% | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 30700000 | &nbsp;&nbsp; 30700000 |
| Public Utility Sr Lien RB Series 2018B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Public Utility Sub Lien RB Series 2014B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32400000 | &nbsp;&nbsp; 32400000 |
| Public Utility Sub Lien RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3760000 |

---

*See financial notes*

**8**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System Refunding RB Series 2011A3 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| Airport System Refunding RB Series 2018A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7725000 | &nbsp;&nbsp; 7725000 |
| Airport System Refunding RB Series 2019A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Airport System Refunding RB Series 2019B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp; 1189218 |
| Airport System Refunding RB Series 2021A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4960000 | &nbsp;&nbsp; 4960000 |
| Airport System Refunding RB Series 2021A & 2024A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14930000 | &nbsp;&nbsp; 14930000 |
| Airport System Refunding RB Series 2023A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10285000 | &nbsp;&nbsp; 10285000 |
| Airport System Refunding RB Series 2024A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Airport System Refunding RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22715000 | &nbsp;&nbsp; 22715000 |
|  |  |  |  |  | &nbsp;&nbsp; **261888953** |
| **FLORIDA 4.5%** | **FLORIDA 4.5%** | **FLORIDA 4.5%** | **FLORIDA 4.5%** | **FLORIDA 4.5%** | **FLORIDA 4.5%** |
| **Brevard Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Timber Trace Apts) Series 2007 (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.16% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8545000 | &nbsp;&nbsp; 8544927 |
| M/F Housing RB (Wickham Club Apts) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4295000 | &nbsp;&nbsp; 4295000 |
| **Broward Cnty** |  |  |  |  |  |
| Airport Facility RB (Embraer Aircraft Holding) Series 2007A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Airport System RB Series 2019A 2017 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5310000 | &nbsp;&nbsp; 5310000 |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| **Collier Cnty IDA** |  |  |  |  |  |
| IDRB (Allete) Series 2006 (**LOC**: WELLS FARGO BANK NA)<br> *(a)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27800000 | &nbsp;&nbsp; 27800000 |
| **Florida** |  |  |  |  |  |
| Refunding Bonds Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1305000 | &nbsp;&nbsp; 1305000 |
| Transportation Bonds Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 390000 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| Housing RB (Brentwood Club of Millenia Blvd Apts) Series 2002A1 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4530000 | &nbsp;&nbsp; 4530000 |
| M/F Mortgage RB (Clear Harbor Apts) Series 2007H (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2895000 | &nbsp;&nbsp; 2895000 |
| M/F Mortgage RB (Hudson Ridge Apts) Series 2008L <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1980000 | &nbsp;&nbsp; 1980000 |
| M/F Mortgage RB (Mariner's Cay Apts) Series 2008M (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1350000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2004F (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2006G (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
| M/F Mortgage RB (St. Andrews Pointe Apts) Series 2003E1 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4690000 | &nbsp;&nbsp; 4690000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**9**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9710000 | &nbsp;&nbsp; 9710000 |
| M/F Mortgage Refunding RB (Grand Reserve at Maitland Park) <br> Series 2004M (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| **Florida Local Government Finance Commission** |  |  |  |  |  |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 10200000 | &nbsp;&nbsp; 10200000 |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 36519000 | &nbsp;&nbsp; 36519000 |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 28185000 | &nbsp;&nbsp; 28185000 |
| **Greater Orlando Aviation Auth** |  |  |  |  |  |
| Sub Airport Facilities RB Series 2017A (**LOC**: TORONTO-DOMINION <br> BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31265000 | &nbsp;&nbsp; 31265000 |
| **Hillsborough Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Lake Kathy Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16900000 | &nbsp;&nbsp; 16900000 |
| M/F Housing RB (Royal Palm Key Apts) Series 2002 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5815000 | &nbsp;&nbsp; 5815000 |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| Health System RB (Baycare Health) Series 2020B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 38100000 | &nbsp;&nbsp; 38100000 |
| Health Care Refunding RB (Baptist Health) Series 2019B <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 21120000 | &nbsp;&nbsp; 21120000 |
| Health Care Refunding RB (Baptist Health) Series 2019D <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Health Care Refunding RB (Baptist Health) Series 2019E <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32955000 | &nbsp;&nbsp; 32955000 |
| **JEA Water & Sewer System** |  |  |  |  |  |
| Water & Sewer System RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6600000 |
| Water & Sewer System RB Series 2024A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Water & Sewer System RB Series 2024A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4435000 | &nbsp;&nbsp; 4435000 |
| Water & Sewer System RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water & Sewer System RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6015000 | &nbsp;&nbsp; 6015000 |
| Water & Sewer System RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| **Lee Cnty** |  |  |  |  |  |
| Airport RB Series 2021B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2440000 | &nbsp;&nbsp; 2440000 |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7915000 | &nbsp;&nbsp; 7915000 |
| **Miami-Dade Cnty** |  |  |  |  |  |
| Aviation RB Series 2019A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| GO Bonds Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7645000 | &nbsp;&nbsp; 7645000 |
| Professional Sports Franchise Facilities Tax RB Series 2009E (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32250000 | &nbsp;&nbsp; 32250000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |

---

*See financial notes*

**10**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Transit System Sales Surtax RB Series 2020A & 2018 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15055000 | &nbsp;&nbsp; 15055000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 37375000 | &nbsp;&nbsp; 37375000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5955000 | &nbsp;&nbsp; 5955000 |
| **Miami-Dade Cnty Transit System** |  |  |  |  |  |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Orange Cnty Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Orlando Regional Healthcare) Series 2008E (**LOC**: TD <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2475000 | &nbsp;&nbsp; 2475000 |
| **Orange Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Lakeside Pointe Apts) Series 2005B (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4665000 | &nbsp;&nbsp; 4665000 |
| M/F Housing RB (Landings on Millenia Blvd Apts) Series 2002A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8600000 | &nbsp;&nbsp; 8600000 |
| M/F Housing RB (Laurel Oaks Apts II) Series 2007H (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6570000 | &nbsp;&nbsp; 6570000 |
| M/F Housing RB (Laurel Oaks Apts) Series 2007G (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7110000 | &nbsp;&nbsp; 7110000 |
| M/F Housing RB (Lee Vista Club Apts) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9155000 | &nbsp;&nbsp; 9155000 |
| M/F Housing RB (The Cove At Lady Lake Apts) Series 2005A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6180000 | &nbsp;&nbsp; 6180000 |
| **Orange Cnty IDA** |  |  |  |  |  |
| RB (Foundation Academy of Winter Garden) Series 2007 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5795000 | &nbsp;&nbsp; 5795000 |
| **Orlando Utilities Commission** |  |  |  |  |  |
| Utility System Refunding RB Series 2013A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150499 |
| **Palm Beach Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Palm Gardens Apts) Series 2007 (**LOC**: CITIBANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| **Tampa International Airport** |  |  |  |  |  |
| RB Series 2024B (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 17190000 | &nbsp;&nbsp; 17190000 |
|  |  |  |  |  | &nbsp;&nbsp; **766164426** |
| **GEORGIA 4.1%** | **GEORGIA 4.1%** | **GEORGIA 4.1%** | **GEORGIA 4.1%** | **GEORGIA 4.1%** | **GEORGIA 4.1%** |
| **Atlanta** |  |  |  |  |  |
| Airport General RB Series 2022B (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK <br> NA) <br>| &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 15078000 | &nbsp;&nbsp; 15078000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 5276000 | &nbsp;&nbsp; 5276000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6700000 |
| **Atlanta Hartsfield-Jackson Airport** |  |  |  |  |  |
| 3rd Lien Airport CP Series P1 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 29058000 | &nbsp;&nbsp; 29058000 |
| 3rd Lien Airport CP Series Q2 (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 128986000 | &nbsp;&nbsp; 128986000 |
| Airport CP Notes Series M2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 125458000 | &nbsp;&nbsp; 125458000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**11**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Airport CP Notes Series N2 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 215646000 | &nbsp;&nbsp; 215646000 |
| Airport CP Notes Series O2 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 50526000 | &nbsp;&nbsp; 50526000 |
| General Airport RB Series 2019B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9920000 | &nbsp;&nbsp; 9920000 |
| **Brookhaven Development Auth** |  |  |  |  |  |
| RB (Children's Healthcare of Atlanta) Series 2019A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Fulton Cnty Development Auth** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 1999B<br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9350000 | &nbsp;&nbsp; 9350000 |
| **Main Street Natural Gas Inc** |  |  |  |  |  |
| Gas Supply RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Gas Supply RB Series 2023E1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| Gas Supply RB Series 2023E2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 07/01/25 | &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; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14300000 | &nbsp;&nbsp; 14300000 |
| **Winder-Barrow Cnty Jt Development Auth** |  |  |  |  |  |
| IDRB (Price Companies) Series 2007 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 2.13% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 560000 |
|  |  |  |  |  | &nbsp;&nbsp; **692118000** |
| **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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2155000 | &nbsp;&nbsp; 2155000 |
| Airport System RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Airport System RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15520000 | &nbsp;&nbsp; 15520000 |
| Airport System RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Airport System RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.09% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| Airport System RB Series 2025A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9845000 | &nbsp;&nbsp; 9845000 |
| Airport System RB Series 2025B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Airport System RB Series 2025C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2735000 | &nbsp;&nbsp; 2735000 |
|  |  |  |  |  | &nbsp;&nbsp; **58420000** |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; **21000000** |
| **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** |
| **Chicago** |  |  |  |  |  |
| M/F Housing RB (Renaissance Place Apts) Series 2007 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp; 960000 |
| Midway Airport 2nd Lien Refunding RB Series 2014C (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 1.87% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| OHare General Airport Sr Lien RB Series 2022A & 2018A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5620000 | &nbsp;&nbsp; 5620000 |

---

*See financial notes*

**12**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| OHare General Airport Sr Lien RB Series 2024A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16865000 | &nbsp;&nbsp; 16865000 |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3660000 | &nbsp;&nbsp; 3660000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| Pooled Program CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 41678000 | &nbsp;&nbsp; 41678000 |
| RB (Chicago Horticultural Society) Series 1999 (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| RB (Lake Forest College) Series 2008 (**LOC**: NORTHERN TRUST <br> COMPANY (THE)) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4940000 | &nbsp;&nbsp; 4940000 |
| RB (Mercy Health) Series 2016 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (North Shore Country Day School) Series 2003 (**LOC**: BMO BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.16% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9390000 | &nbsp;&nbsp; 9390000 |
| RB (The Carle Foundation) Series 2021C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 47495000 | &nbsp;&nbsp; 47495000 |
| RB (UChicago Medicine) Series 2022A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.04% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| RB (Uhlich Children's Advantage Network) Series 2006 (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| RB (Univ of Chicago Medical Center) Series 2016B (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 37295000 | &nbsp;&nbsp; 37295000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
| RB (Univ of Chicago) Series 2015A (**ESCROW**) (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp; 2340000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4590000 | &nbsp;&nbsp; 4590000 |
| **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; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| M/F RB Series 2023C (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11730000 | &nbsp;&nbsp; 11730000 |
| RB Series 2024H (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 33335000 | &nbsp;&nbsp; 33335000 |
| **Illinois Hsg Dev Auth 2016** |  |  |  |  |  |
| M/F RB Series 2024E (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY)<br>*(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9225000 | &nbsp;&nbsp; 9225000 |
| **Illinois Hsg Development Auth March 2016 S/F** |  |  |  |  |  |
| RB Series 2022G (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2003A  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 105000 |
| GO Bonds Series 2018B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| GO Bonds Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2615000 | &nbsp;&nbsp; 2615000 |
| **Lisle** |  |  |  |  |  |
| M/F Housing RB (Ashley of Lisle) Series 1985 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| **Nuveen Municipal Credit Opportunities Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**13**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Palatine** |  |  |  |  |  |
| Special Facility RB (Little City for Community Development) <br> Series 1998 (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 2.14% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| **Will Cnty** |  |  |  |  |  |
| RB (ExxonMobil) Series 2001 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &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; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 77425000 | &nbsp;&nbsp; 77425000 |
|  |  |  |  |  | &nbsp;&nbsp; **538748000** |
| **INDIANA 1.2%** | **INDIANA 1.2%** | **INDIANA 1.2%** | **INDIANA 1.2%** | **INDIANA 1.2%** | **INDIANA 1.2%** |
| **Gibson Cnty** |  |  |  |  |  |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1997 <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1998 <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1999A <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2000A <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2001B <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Indiana Finance Auth** |  |  |  |  |  |
| Economic Development RB (Cargill) Series 2011 <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Environmental Refunding RB (Duke Energy Indiana) Series 2009A4 <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| Health Facilities RB (Baptist Healthcare) Series 2017A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2720000 | &nbsp;&nbsp; 2720000 |
| Health System RB (Indiana Univ Health) Series 2025A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| Hospital RB (Parkview Health System) Series 2009D (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 08/07/25 | &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; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32850000 | &nbsp;&nbsp; 32850000 |
| RB (Ascension Health) Series 2005A2 <br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp; 1635000 |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2024B1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6040000 | &nbsp;&nbsp; 6040000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17260000 | &nbsp;&nbsp; 17260000 |
| S/F Mortgage RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Rush Cnty** |  |  |  |  |  |
| Economic Development RB (Hulsbosch Farms LLC) Series 2025 <br> (**LOC**: BMO BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8750000 | &nbsp;&nbsp; 8750000 |
|  |  |  |  |  | &nbsp;&nbsp; **198910000** |
| **IOWA 2.1%** | **IOWA 2.1%** | **IOWA 2.1%** | **IOWA 2.1%** | **IOWA 2.1%** | **IOWA 2.1%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| Demand Solid Waste Dispostal RB Series 2025 (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Midwestern Disaster Area RB (Cargill) Series 2009A <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 65947000 | &nbsp;&nbsp; 65947000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31500000 | &nbsp;&nbsp; 31500000 |
| Midwestern Disaster Area RB (Cargill) Series 2012A <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 73200000 | &nbsp;&nbsp; 73200000 |

---

*See financial notes*

**14**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5940000 | &nbsp;&nbsp; 5940000 |
| RB (Associated Milk Producers Inc) Series 2024 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Sewage and Solid Waste Disposal RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Sewage Facilities RB (Cargill Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Solid Waste Disposal RB (Chevron Corp) Series 2024 <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10845000 | &nbsp;&nbsp; 10845000 |
|  |  |  |  |  | &nbsp;&nbsp; **361432000** |
| **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** | **KANSAS 0.7%** |
| **Edward Cnty Solid Waste** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024A (**LOC**: FARM CREDIT BANK OF <br> TEXAS)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **Ford Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024A (**LOC**: COBANK ACB)<br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Wichita** |  |  |  |  |  |
| Industrial RB (Cargill) Series VII-A 2018<br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25800000 | &nbsp;&nbsp; 25800000 |
|  |  |  |  |  | &nbsp;&nbsp; **116450000** |
| **KENTUCKY 1.8%** | **KENTUCKY 1.8%** | **KENTUCKY 1.8%** | **KENTUCKY 1.8%** | **KENTUCKY 1.8%** | **KENTUCKY 1.8%** |
| **Boone Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Duke Energy) Series 2010 <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| **Hopkinsville** |  |  |  |  |  |
| IDRB (Riken Elastomers Corp) Series 2007A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| IDRB (Riken Elastomers Corp) Series 2013A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Kenton Cnty Airport Board** |  |  |  |  |  |
| Special Facilities RB (FlightSafety) Series 2001A<br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26750000 | &nbsp;&nbsp; 26750000 |
| **Kentucky Economic Development Finance Auth** |  |  |  |  |  |
| RB (Goodwill Industries of Kentucky Inc) Series 2025 (**LOC**: PNC <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18750000 | &nbsp;&nbsp; 18750000 |
| **Louisville & Jefferson Cnty Metro Government** |  |  |  |  |  |
| Health System RB (Norton Healthcare) Series 2023C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 75170000 | &nbsp;&nbsp; 75170000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**15**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Sewer & Drainage System Sub CP Series 2023A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 13550000 | &nbsp;&nbsp; 13550000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 79435000 | &nbsp;&nbsp; 79435000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 11890000 | &nbsp;&nbsp; 11890000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2022A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| Gas Supply Refunding RB Series 2025A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **305805000** |
| **LOUISIANA 0.5%** | **LOUISIANA 0.5%** | **LOUISIANA 0.5%** | **LOUISIANA 0.5%** | **LOUISIANA 0.5%** | **LOUISIANA 0.5%** |
| **Caddo-Bossier Parishes Port Commission** |  |  |  |  |  |
| RB (Oakley Louisiana Inc) Series 1998 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 2.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 675000 |
| **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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| Hospital RB (Louisiana Children's Medical Center) Series 2017A <br> (**LOC**: UBS AG) <br>*(a)* | &nbsp;&nbsp; 1.91% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 40600000 | &nbsp;&nbsp; 40600000 |
| Hospital RB (Louisiana Children's Medical Center) Series 2017B <br> (**LOC**: UBS AG) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32185000 | &nbsp;&nbsp; 32185000 |
| RB (Chevron Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5695000 | &nbsp;&nbsp; 5695000 |
| **St. Tammany Parish Development District** |  |  |  |  |  |
| RB (BCS Development) Series 2008 (**LOC**: FEDERAL HOME LOAN <br> BANKS)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2435000 | &nbsp;&nbsp; 2435000 |
|  |  |  |  |  | &nbsp;&nbsp; **84390000** |
| **MAINE 0.4%** | **MAINE 0.4%** | **MAINE 0.4%** | **MAINE 0.4%** | **MAINE 0.4%** | **MAINE 0.4%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage Purchase Bonds Series 2021A  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 533684 |
| Mortgage Purchase Bonds Series 2022C (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 69865000 | &nbsp;&nbsp; 69865000 |
| Mortgage Purchase Bonds Series 2023E  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625900 |
| Mortgage RB Series 2024D & 2024F (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp; 940000 |
|  |  |  |  |  | &nbsp;&nbsp; **71964584** |

---

*See financial notes*

**16**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** |
| **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; 2.50% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3990000 | &nbsp;&nbsp; 3990000 |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Univ of Maryland Medical System) Series 2025C1 (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 64000000 | &nbsp;&nbsp; 64000000 |
| RB Series 1985B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 24905000 | &nbsp;&nbsp; 24905000 |
| **Maryland IDA** |  |  |  |  |  |
| Economic Development RB (Paul Reed Smith Guitars) Series 2008 <br> (**LOC**: PNC BANK NA)<br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5070000 | &nbsp;&nbsp; 5070000 |
| **Montgomery Cnty** |  |  |  |  |  |
| CP BAN 2010B (**LIQ**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 21667000 | &nbsp;&nbsp; 21667000 |
| RB (Trinity Health) Series 2013MD <br> *(c)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| **Washington Suburban Sanitary District** |  |  |  |  |  |
| GO BAN Series B (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1005000 | &nbsp;&nbsp; 1005000 |
|  |  |  |  |  | &nbsp;&nbsp; **165812000** |
| **MASSACHUSETTS 4.2%** | **MASSACHUSETTS 4.2%** | **MASSACHUSETTS 4.2%** | **MASSACHUSETTS 4.2%** | **MASSACHUSETTS 4.2%** | **MASSACHUSETTS 4.2%** |
| **Boston Water & Sewer Commission** |  |  |  |  |  |
| CP BAN Series A (**LOC**: TD BANK NA) | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Massachusetts** |  |  |  |  |  |
| Commonwealth Transportation Fund RB Series 2023A & 2024B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4980000 | &nbsp;&nbsp; 4980000 |
| GO Bonds Series 2016B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22540000 | &nbsp;&nbsp; 22540000 |
| GO Bonds Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3760000 |
| GO Bonds Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4425000 | &nbsp;&nbsp; 4425000 |
| GO Bonds Series 2024E (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds Series 2024E (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2605000 | &nbsp;&nbsp; 2605000 |
| GO Bonds Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| GO Refunding Bonds Series 2014C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300324 |
| GO Refunding Bonds Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 25850000 | &nbsp;&nbsp; 25850000 |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 6750000 | &nbsp;&nbsp; 6750000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 80000000 |
| Sales Tax CP Series C (**LIQ**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 15300000 | &nbsp;&nbsp; 15300000 |
| Sr Sales Tax Bonds Series 2005A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1325000 | &nbsp;&nbsp; 1325000 |
| Sr Sales Tax Bonds Series 2005B  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp; 1105000 |
| Sr Sales Tax Bonds Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**17**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sr Sales Tax Bonds Series 2015B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325000 |
| Sr Sales Tax Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| **Massachusetts Bay Transportation Auth Sales Tax Program** |  |  |  |  |  |
| Sr Sales Tax Bonds Series 2024A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp; 2570000 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.89% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 40250000 | &nbsp;&nbsp; 40250000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 26400000 | &nbsp;&nbsp; 26400000 |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)(b)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45755000 | &nbsp;&nbsp; 45755000 |
| RB (CIL Realty) Series 2011 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2025000 | &nbsp;&nbsp; 2025000 |
| RB (CIL Realty) Series 2016 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5050000 |
| RB (Partners HealthCare System) Series 2017S1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210000 |
| RB Series V 2024 (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing RB Series 2016I (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Massachusetts Port Auth** |  |  |  |  |  |
| RB Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1235000 | &nbsp;&nbsp; 1235000 |
| RB Series 2021E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| **Massachusetts Water Resources Auth** |  |  |  |  |  |
| Water CP Series 2016 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Water CP Series 2016 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Water CP Series 2016 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp; 34195000 | &nbsp;&nbsp; 34195000 |
| **Mississippi Home Corp S/F Mortgage** |  |  |  |  |  |
| S/F Mortgage RB Series 2025A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA)<br>*(a)(b)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **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; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Nuveen Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 182200000 | &nbsp;&nbsp; 182200000 |
|  |  |  |  |  | &nbsp;&nbsp; **713675324** |

---

*See financial notes*

**18**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(c)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Hospital RB (CHE Trinity Health) Series 2013MI2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7775000 | &nbsp;&nbsp; 7775000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| Hospital Refunding RB (Trinity Health) Series 2017MIA & MI2022A & <br> MI2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4405000 | &nbsp;&nbsp; 4405000 |
| State Aid RB Series 2024A2 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17038507 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| Rental Housing RB Series 2008A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Rental Housing RB Series 2016D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5870000 | &nbsp;&nbsp; 5870000 |
| Rental Housing RB Series 2018C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 55320000 | &nbsp;&nbsp; 55320000 |
| Rental Housing RB Series 2022A  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 240000 |
| Rental Housing RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| S/F Mortgage RB Series 2006C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| S/F Mortgage RB Series 2007B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 44770000 | &nbsp;&nbsp; 44770000 |
| S/F Mortgage RB Series 2007F (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12085000 | &nbsp;&nbsp; 12085000 |
| S/F Mortgage RB Series 2022B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
| S/F Mortgage RB Series 2022D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7215000 | &nbsp;&nbsp; 7215000 |
| S/F Mortgage RB Series 2024D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4985000 | &nbsp;&nbsp; 4985000 |
| **Michigan Strategic Fund** |  |  |  |  |  |
| RB (Greenville Venture Partners) Series 2018 (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| RB (Kroger) Series 2010 (**LOC**: BANK OF NOVA SCOTIA) <br> *(a)* | &nbsp;&nbsp; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 40335000 | &nbsp;&nbsp; 40335000 |
| Recovery Zone Facility RB (CS Facilities) Series 2010 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31045000 | &nbsp;&nbsp; 31045000 |
| Solid Waste Disposal RB (Chevron) Series 2024 <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 20150000 | &nbsp;&nbsp; 20150000 |
| **Univ of Michigan** |  |  |  |  |  |
| CP Notes Series L1  | &nbsp;&nbsp; 2.99% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series L1  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 23815000 | &nbsp;&nbsp; 23815000 |
| Extendible CP Notes Series L2 <br> *(c)* | &nbsp;&nbsp; 3.06% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| General RB Series 2009B  | &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 18250000 | &nbsp;&nbsp; 18250000 |
| General RB Series 2012A <br> *(a)* | &nbsp;&nbsp; 1.72% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14825000 | &nbsp;&nbsp; 14825000 |
|  |  |  |  |  | &nbsp;&nbsp; **377933507** |
| **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** |
| **Chippewa Cnty Solid Waste Disposal** |  |  |  |  |  |
| Solid Waste Disposal RB (Riverview LLP) Series 2025 <br> (**LOC**: AGRIBANK FCB)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**19**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Grant Cnty** |  |  |  |  |  |
| IDRB (Riverview) Series 2020 (**LOC**: AGRIBANK FCB)<br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Minnesota Agri & Eco Dev Brd** |  |  |  |  |  |
| Solid Waste Disposal RB (Spectro Alloys) Series 2024 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10755000 | &nbsp;&nbsp; 10755000 |
| Solid Waste Disposal RB (Spectro Alloys) Series 2025 (**LOC**: NATIXIS <br> SA) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4375000 | &nbsp;&nbsp; 4375000 |
| **Moorehead** |  |  |  |  |  |
| Refunding RBs (American Crystal Sugar Comp) Series 2020 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Norman Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (Riverview) Series 2022 (**LOC**: AGRIBANK <br> FCB)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Otter Tail Cnty** |  |  |  |  |  |
| IDRB (Bongards Creameries) Industries) Series 2025 (**LOC**: COBANK <br> ACB)<br>*(a)(b)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8670000 | &nbsp;&nbsp; 8670000 |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2008A <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/02/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5565000 | &nbsp;&nbsp; 5565000 |
| **Swift Cnty** |  |  |  |  |  |
| IDRB (Riverview LLP) Series 2018 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **186045000** |
| **MISSISSIPPI 0.1%** | **MISSISSIPPI 0.1%** | **MISSISSIPPI 0.1%** | **MISSISSIPPI 0.1%** | **MISSISSIPPI 0.1%** | **MISSISSIPPI 0.1%** |
| **Mississippi** |  |  |  |  |  |
| GO Bonds Series 2015F (**ESCROW**) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2317221 |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010C<br> *(a)* | &nbsp;&nbsp; 1.88% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Mississippi Home Corp** |  |  |  |  |  |
| M/F Housing RB (Edgewood Manor Apts) Series 20082 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4860000 | &nbsp;&nbsp; 4860000 |
|  |  |  |  |  | &nbsp;&nbsp; **14177221** |
| **MISSOURI 0.2%** | **MISSOURI 0.2%** | **MISSOURI 0.2%** | **MISSOURI 0.2%** | **MISSOURI 0.2%** | **MISSOURI 0.2%** |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| CP (BJC Health System) Series D  | &nbsp;&nbsp; 2.96% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Health Facilities RB (BJC Health System) Series 2021A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| Health Facilities RB (BJC Health) Series 2025A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| Health Facilities RB (CoxHealth) Series 2008BC (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13660000 | &nbsp;&nbsp; 13660000 |
| **St Louis County** |  |  |  |  |  |
| Special Obligation RB (Convention Center) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9105000 | &nbsp;&nbsp; 9105000 |

---

*See financial notes*

**20**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4635000 | &nbsp;&nbsp; 4635000 |
|  |  |  |  |  | &nbsp;&nbsp; **36450000** |
| **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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| Gas Supply Refunding RB Series 2019 (**ESCROW**) <br> *(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 6290000 | &nbsp;&nbsp; 6291005 |
| **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; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4435000 | &nbsp;&nbsp; 4435000 |
| **Nebraska Investment Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Irvington Heights Apts) Series 2007A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9220000 | &nbsp;&nbsp; 9220000 |
| S/F Housing RB Series 2024E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| S/F Housing RB Series 2025C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| SF Housing RB Series 2024C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| **Nebraska Public Power District** |  |  |  |  |  |
| CP Series A2 (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 42800000 | &nbsp;&nbsp; 42800000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010 <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| IDRB (Cargill) Series 2010B <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| RB (Cargill) Series 2019 <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32000000 |
|  |  |  |  |  | &nbsp;&nbsp; **126506005** |
| **NEVADA 0.9%** | **NEVADA 0.9%** | **NEVADA 0.9%** | **NEVADA 0.9%** | **NEVADA 0.9%** | **NEVADA 0.9%** |
| **Clark Cnty** |  |  |  |  |  |
| Airport System Sub Lien RB Series 2008C1 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 107020000 | &nbsp;&nbsp; 107020000 |
| Airport System Sub Lien RB Series 2008D2B (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16850000 | &nbsp;&nbsp; 16850000 |
| **Las Vegas Valley Water District** |  |  |  |  |  |
| GO Water Bonds Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5615000 | &nbsp;&nbsp; 5615000 |
| **Nevada Housing Division** |  |  |  |  |  |
| M/F Housing RB (Apache Pines Apts) Series 1999A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8500000 |
| M/F Housing RB (Sierra Pointe Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8265000 | &nbsp;&nbsp; 8265000 |
| M/F Housing RB (Sonoma Palms Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
|  |  |  |  |  | &nbsp;&nbsp; **160650000** |
| **NEW HAMPSHIRE 1.5%** | **NEW HAMPSHIRE 1.5%** | **NEW HAMPSHIRE 1.5%** | **NEW HAMPSHIRE 1.5%** | **NEW HAMPSHIRE 1.5%** | **NEW HAMPSHIRE 1.5%** |
| **National Fin Auth Novant Health** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 86200000 | &nbsp;&nbsp; 86200000 |
| Health Care Facilities RB (Novant Health) Series 2024C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 48000000 | &nbsp;&nbsp; 48000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**21**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2003 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2005 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19500000 | &nbsp;&nbsp; 19500000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2017 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)(b)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| **New Hampshire HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2024D<br> *(c)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
|  |  |  |  |  | &nbsp;&nbsp; **257700000** |
| **NEW JERSEY 3.4%** | **NEW JERSEY 3.4%** | **NEW JERSEY 3.4%** | **NEW JERSEY 3.4%** | **NEW JERSEY 3.4%** | **NEW JERSEY 3.4%** |
| **Berkeley Township** |  |  |  |  |  |
| BAN 2024B  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 16399000 | &nbsp;&nbsp; 16422243 |
| BAN 2025A  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/18/26 | &nbsp;&nbsp; 10682000 | &nbsp;&nbsp; 10753798 |
| **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; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 19402689 |
| **Brick Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 21744700 | &nbsp;&nbsp; 21891841 |
| **Carteret** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 21967000 | &nbsp;&nbsp; 22053893 |
| **Clifton NJ** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10019734 |
| **Gloucester Cnty Improvement Auth** |  |  |  |  |  |
| Loan RB (Rowan Univ) Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp; 805000 |
| **Hamilton Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/13/26 | &nbsp;&nbsp; 21646000 | &nbsp;&nbsp; 21760315 |
| **Hudson Cnty Improvement Auth** |  |  |  |  |  |
| BAN 2025A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/12/26 | &nbsp;&nbsp; 9339000 | &nbsp;&nbsp; 9412900 |
| Pooled Notes Series 2024B1  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 18045000 | &nbsp;&nbsp; 18049531 |
| **Lacey Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14051412 |
| **Mercer Cnty** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50430125 |
| **Monroe Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/29/26 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26112406 |
| **Ocean City** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/14/25 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13201066 |
| **Summit** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 13249100 | &nbsp;&nbsp; 13254141 |
| **Teaneck Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17041742 |
| **Tenafly** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10034353 |
| **West Orange Township NJ** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/19/26 | &nbsp;&nbsp; 11439928 | &nbsp;&nbsp; 11540248 |

---

*See financial notes*

**22**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Woodbridge** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34095001 |
|  |  |  |  |  | &nbsp;&nbsp; **579932438** |
| **NEW YORK 13.1%** | **NEW YORK 13.1%** | **NEW YORK 13.1%** | **NEW YORK 13.1%** | **NEW YORK 13.1%** | **NEW YORK 13.1%** |
| **Albany IDA** |  |  |  |  |  |
| Sr Housing RB (South Mall Towers) Series 2003A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3620000 | &nbsp;&nbsp; 3620000 |
| **Baldwinsville CSD** |  |  |  |  |  |
| BAN 2025B<br> *(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 35100000 | &nbsp;&nbsp; 35423271 |
| **Bedford CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15005448 |
| **Brewster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9069182 |
| **Cheektowaga-Maryvale UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20077677 |
| **Chruchville-Chili CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 21800000 | &nbsp;&nbsp; 22103614 |
| **Colonie** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12034559 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 7944338 | &nbsp;&nbsp; 8051827 |
| **East Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2985000 | &nbsp;&nbsp; 2985000 |
| **Fairport CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 4325000 | &nbsp;&nbsp; 4326646 |
| **Fayetteville-Manlius CSD** |  |  |  |  |  |
| BAN 2025B <br> *(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; 12440000 | &nbsp;&nbsp; 12532678 |
| GO BAN 2024  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 44800000 | &nbsp;&nbsp; 44817046 |
| **Glen Cove SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22111221 |
| **Hilton CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 12700000 | &nbsp;&nbsp; 12782522 |
| **Hyde Park CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 25151177 | &nbsp;&nbsp; 25296970 |
| **Ithaca SD** |  |  |  |  |  |
| BAN 2025<br> *(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 15680000 | &nbsp;&nbsp; 15827549 |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 9018083 | &nbsp;&nbsp; 9062545 |
| **Kingston** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 18576476 | &nbsp;&nbsp; 18649932 |
| **Lancaster CSD** |  |  |  |  |  |
| Ban 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42208304 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12016546 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1610000 | &nbsp;&nbsp; 1610000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**23**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11410000 | &nbsp;&nbsp; 11410000 |
| **New Rochelle IDA** |  |  |  |  |  |
| IDRB (West End Phase I) Series 2006 (**LOC**: CITIBANK NA)<br> *(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2950000 |
| **New Windsor NY** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 44500000 | &nbsp;&nbsp; 44734375 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2006 Series I-8 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3710000 | &nbsp;&nbsp; 3710000 |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5950000 | &nbsp;&nbsp; 5950000 |
| GO Bonds Fiscal 2012 Series G6 (**LOC**: MIZUHO BANK LTD) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds Fiscal 2016 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110151 |
| GO Bonds Fiscal 2017 Series A1 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 55005000 | &nbsp;&nbsp; 55005000 |
| GO Bonds Fiscal 2017 Series A6 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4410000 | &nbsp;&nbsp; 4410000 |
| GO Bonds Fiscal 2017 Series A7 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 4.03% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550000 |
| GO Bonds Fiscal 2018 Series C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210292 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6275000 | &nbsp;&nbsp; 6275000 |
| GO Bonds Fiscal 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| GO Bonds Fiscal 2019 Series E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1251881 |
| GO Bonds Fiscal 2020 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| GO Bonds Fiscal 2022 Series D4 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.02% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12115000 | &nbsp;&nbsp; 12115000 |
| GO Bonds Fiscal 2023 Series A4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1715000 | &nbsp;&nbsp; 1715000 |
| GO Bonds Fiscal 2023 Series F1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1001392 |
| GO Bonds Fiscal 2024 Series D (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Bonds Fiscal 2025 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185259 |
| GO Bonds Fiscal 2025 Series F  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 43350000 | &nbsp;&nbsp; 43431634 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26850000 | &nbsp;&nbsp; 26850000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2018K (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| M/F Housing RB Series 2018L1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 63875000 | &nbsp;&nbsp; 63875000 |
| M/F Housing RB Series 2021F3 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| M/F Housing RB Series 2022F3 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 24615000 | &nbsp;&nbsp; 24615000 |
| M/F Housing RB Series 2024F1A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| M/F Housing RB Series B1A & C1A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8345000 | &nbsp;&nbsp; 8345000 |

---

*See financial notes*

**24**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| M/F Rental Housing RB (Atlantic Court Apts) Series 2005A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45220000 | &nbsp;&nbsp; 45220000 |
| M/F Rental Housing RB (Related - W 89th St) Series 2000A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 35500000 | &nbsp;&nbsp; 35500000 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2022 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2290000 | &nbsp;&nbsp; 2290000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8795000 | &nbsp;&nbsp; 8795000 |
| 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1835000 | &nbsp;&nbsp; 1835000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp; 2740000 |
| 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 445000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10125000 | &nbsp;&nbsp; 10125000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Water & Sewer Sytem 2nd General Resolution RB Fiscal 2025 <br> Series EE1 (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175000 |
| **New York City Municipal Water Finance Authority** |  |  |  |  |  |
| Water & Sewer System 2nd General resolution RB Fiscal 2025 <br> Series EE2 (**LIQ**: BANK OF NEW YORK MELLON/THE)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 16540000 | &nbsp;&nbsp; 16540000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series A5 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &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; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp; 1315000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**25**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1960000 | &nbsp;&nbsp; 1960000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C7 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp; 925000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2021 Series E1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2710000 | &nbsp;&nbsp; 2710000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series F1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 18275000 | &nbsp;&nbsp; 18275000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series H1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8735000 | &nbsp;&nbsp; 8735000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp; 1175000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| CP Notes  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 26200000 | &nbsp;&nbsp; 26200000 |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7900000 | &nbsp;&nbsp; 7900000 |
| RB (New York Univ) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| RB (Teresian House) Series 2003 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9155000 | &nbsp;&nbsp; 9155000 |
| State Personal Income Tax RB Series 2019D (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12585000 | &nbsp;&nbsp; 12585000 |

---

*See financial notes*

**26**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| State Personal Income Tax RB Series 2020A & 2021A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6175000 | &nbsp;&nbsp; 6175000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9215000 | &nbsp;&nbsp; 9215000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3175000 | &nbsp;&nbsp; 3175000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6725000 | &nbsp;&nbsp; 6725000 |
| State Sales Tax RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp; 1635000 |
| **New York State Environmental Facilities Corp** |  |  |  |  |  |
| State Revolving Funds RB Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (160 Madison Ave) Series 2013A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12905000 | &nbsp;&nbsp; 12905000 |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27425000 | &nbsp;&nbsp; 27425000 |
| Housing RB (316 11th Ave) Series 2007A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29765000 | &nbsp;&nbsp; 29765000 |
| Housing RB (39th St) Series 2000A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| Housing RB (600 W 42nd Street) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 73480000 | &nbsp;&nbsp; 73480000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 35200000 | &nbsp;&nbsp; 35200000 |
| Housing RB (Clinton Green North) Series 2005A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 73475000 | &nbsp;&nbsp; 73475000 |
| Housing RB (Grace Towers) Series 2007A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9330000 | &nbsp;&nbsp; 9330000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| Housing RB (Saville Housing) Series 2002A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Housing RB (Theatre Row Tower) Series 2000A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Housing RB (Tower 31) Series 2005A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 83600000 | &nbsp;&nbsp; 83600000 |
| Housing RB (Tribeca Park) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19600000 | &nbsp;&nbsp; 19600000 |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4635000 | &nbsp;&nbsp; 4635000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 6528000 | &nbsp;&nbsp; 6528000 |
| CP Series 1  | &nbsp;&nbsp; 2.94% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 63350000 | &nbsp;&nbsp; 63350000 |
| CP Series 1  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **New York State Power Auth Green Transmission** |  |  |  |  |  |
| RB Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**27**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 21505000 | &nbsp;&nbsp; 21505000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3675000 | &nbsp;&nbsp; 3675000 |
| **New York State Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2004A3C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| State Personal Income Tax RB Series 2020C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6760000 | &nbsp;&nbsp; 6760000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 20915000 | &nbsp;&nbsp; 21004940 |
| **North Syracuse CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35025873 |
| **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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 41600322 |
| **Penfield Central SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8031238 |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2305000 | &nbsp;&nbsp; 2305000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 595000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp; 760000 |
| Consolidated Bonds 231st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8440000 | &nbsp;&nbsp; 8440000 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp; 1125000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Consolidated Bonds 248th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Riverhead** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14060224 |
| **Rockland Cnty IDA** |  |  |  |  |  |
| RB (Northern Riverview) Series 1999 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| **Rye SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10043989 |
| **Skaneateles CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10060981 |

---

*See financial notes*

**28**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Colonie CSD** |  |  |  |  |  |
| BAN 2024A  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 31000000 | &nbsp;&nbsp; 31006558 |
| BAN 2024B  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 3222775 | &nbsp;&nbsp; 3223388 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30022396 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35050362 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub BAN Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22172542 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1555000 | &nbsp;&nbsp; 1555000 |
| General RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| General RB Series 2023B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 950000 |
| General RB Series 2023B1 & 2020A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4030000 | &nbsp;&nbsp; 4030000 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3698000 | &nbsp;&nbsp; 3698000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sales Tax RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 510000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp; 5750000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 22094440 | &nbsp;&nbsp; 22143505 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 10055579 | &nbsp;&nbsp; 10065305 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2030000 | &nbsp;&nbsp; 2030000 |
| **Webster** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30049615 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 15605000 | &nbsp;&nbsp; 15704612 |
|  |  |  |  |  | &nbsp;&nbsp; **2237779371** |
| **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** | **NORTH CAROLINA 0.3%** |
| **Cumberland Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Cargill) Series 2022<br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**29**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **North Carolina Medical Care Commission** |  |  |  |  |  |
| Health Care Facilities Refunding RB (FirstHealth of Carolinas) <br> Series 2017 (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7140000 | &nbsp;&nbsp; 7140000 |
| Health Care Facilities Refunding RB (FirstHealth of the Carolinas) <br> Series 2017D (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26950000 | &nbsp;&nbsp; 26950000 |
| **Yancey Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| IDRB (Altec Industries) Series 2007 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
|  |  |  |  |  | &nbsp;&nbsp; **56090000** |
| **NORTH DAKOTA 0.0%** | **NORTH DAKOTA 0.0%** | **NORTH DAKOTA 0.0%** | **NORTH DAKOTA 0.0%** | **NORTH DAKOTA 0.0%** | **NORTH DAKOTA 0.0%** |
| **Richland Cnty** |  |  |  |  |  |
| RB (Minn-Dak Farmers Coop) Series 2010C (**LOC**: COBANK ACB)<br> *(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp; **2740000** |
| **OHIO 2.4%** | **OHIO 2.4%** | **OHIO 2.4%** | **OHIO 2.4%** | **OHIO 2.4%** | **OHIO 2.4%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| Hospital RB (Summa Health) Series 2017A (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8825000 | &nbsp;&nbsp; 8825000 |
| Hospital RB (Summa Health) Series 2017B (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32695000 | &nbsp;&nbsp; 32695000 |
| RB (Concordia Lutheran Obligated Group) Series 2013A (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2355000 | &nbsp;&nbsp; 2355000 |
| RB (Concordia Lutheran Obligated Group) Series 2018B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6675000 | &nbsp;&nbsp; 6675000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025C <br> (**LOC**: PNC BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| **Columbus Regional Airport Auth** |  |  |  |  |  |
| Airport Development RB (FlightSafety) Series 2015B<br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15040000 | &nbsp;&nbsp; 15040000 |
| **Franklin Cnty** |  |  |  |  |  |
| Hospital Facilities RB (OhioHealth) Series 2015 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
| Hospital Facilities RB (OhioHealth) Series 2018A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| RB (St George Commons Apts) Series 2007 (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| RB (Trinity Health) Series 2013OH <br> *(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8500000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Hospital Facilities RB (TriHealth) Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4775000 | &nbsp;&nbsp; 4775000 |
| **Hudson** |  |  |  |  |  |
| LT GO Notes Series 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 16045000 | &nbsp;&nbsp; 16090418 |
| **Montgomery Cnty** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Kettering Health) Series 2011B <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10575000 | &nbsp;&nbsp; 10575000 |
| **Ohio** |  |  |  |  |  |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |

---

*See financial notes*

**30**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp; 2050000 |
| Residential Mortgage RB Series 2016J (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13295000 | &nbsp;&nbsp; 13295000 |
| Residential Mortgage RB Series 2017C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| Residential Mortgage RB Series 2019A  | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249635 |
| Residential Mortgage RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6945000 | &nbsp;&nbsp; 6945000 |
| Residential Mortgage RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7710000 | &nbsp;&nbsp; 7710000 |
| Residential Mortgage RB Series 2025A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.86% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 21850000 | &nbsp;&nbsp; 21850000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.86% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24300000 | &nbsp;&nbsp; 24300000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 12145000 | &nbsp;&nbsp; 12145000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 23190000 | &nbsp;&nbsp; 23190000 |
| **Ohio Hospital Facilities** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019D1 <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29835000 | &nbsp;&nbsp; 29835000 |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100733 |
| **Ohio State Air Quality Development Auth** |  |  |  |  |  |
| Exempt Facilities RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
|  |  |  |  |  | &nbsp;&nbsp; **402330786** |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9955000 | &nbsp;&nbsp; 9955000 |
| 2nd Sr RB Series 2025A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5150000 | &nbsp;&nbsp; 5150000 |
| **Oklahoma Water Utilities Trust** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
|  |  |  |  |  | &nbsp;&nbsp; **21605000** |
| **OREGON 1.5%** | **OREGON 1.5%** | **OREGON 1.5%** | **OREGON 1.5%** | **OREGON 1.5%** | **OREGON 1.5%** |
| **Oregon** |  |  |  |  |  |
| GO Bonds 2015O  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp; 1066831 |
| GO Bonds Series 2019 G  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 240378 |
| GO Bonds Series 2019G (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| GO Bonds Series 2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 9130000 | &nbsp;&nbsp; 9271120 |
| GO Refunding Bonds Series 2015B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200297 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 15997000 | &nbsp;&nbsp; 15997000 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 12906000 | &nbsp;&nbsp; 12906000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**31**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 3.00% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 43506000 | &nbsp;&nbsp; 43506000 |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 51310000 | &nbsp;&nbsp; 51310000 |
| **Oregon Facilities Auth** |  |  |  |  |  |
| RB (Quatama Housing LP) Series 2005A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| **Oregon Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1570000 | &nbsp;&nbsp; 1570000 |
| **Port of Portland Airport** |  |  |  |  |  |
| Airport RB Series 28 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7015000 | &nbsp;&nbsp; 7015000 |
| Airport RB Series 28 & 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 19965000 | &nbsp;&nbsp; 19965000 |
| Airport RB Series 29 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11950000 | &nbsp;&nbsp; 11950000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5640000 | &nbsp;&nbsp; 5640000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.04% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Airport RB Series 29 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4195000 | &nbsp;&nbsp; 4195000 |
| Airport RB Series 30A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4245000 | &nbsp;&nbsp; 4245000 |
| Airport RB Series 30A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Airport RB Series 30A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| Airport RB Series 30A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 2980000 |
| **Portland** |  |  |  |  |  |
| M/F Refunding RB (Village of Lovejoy Fountain) Series 2009 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7800000 | &nbsp;&nbsp; 7800000 |
|  |  |  |  |  | &nbsp;&nbsp; **262477626** |
| **PENNSYLVANIA 2.6%** | **PENNSYLVANIA 2.6%** | **PENNSYLVANIA 2.6%** | **PENNSYLVANIA 2.6%** | **PENNSYLVANIA 2.6%** | **PENNSYLVANIA 2.6%** |
| **Allegheny Cnty Hospital Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Obligated Group) Series 2016A (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22795000 | &nbsp;&nbsp; 22795000 |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB Series (Concordia Lutheran) 2018A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4035000 | &nbsp;&nbsp; 4035000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11780000 | &nbsp;&nbsp; 11780000 |
| **Butler Cnty Industrial Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4640000 | &nbsp;&nbsp; 4640000 |
| Refunding RB (Concordia Lutheran Health & Human Care) <br> Series 2008A (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8105000 | &nbsp;&nbsp; 8105000 |
| **Chester Cnty Health & Ed** |  |  |  |  |  |
| RB (Tel Hai Retirement Community) Series 2020 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12640000 | &nbsp;&nbsp; 12640000 |
| **City of York Redevelopment Auth** |  |  |  |  |  |
| RB Series 2002 (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br> *(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 785000 | &nbsp;&nbsp; 785000 |
| **Cumberland Cnty Municipal Auth** |  |  |  |  |  |
| RB (SpiriTrust Lutheran) Series 2019 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 67000000 | &nbsp;&nbsp; 67000000 |

---

*See financial notes*

**32**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Delaware Valley Regional Finance Auth** |  |  |  |  |  |
| RB Series 2024B (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2075000 | &nbsp;&nbsp; 2075000 |
| **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; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3340000 | &nbsp;&nbsp; 3340000 |
| M/F Housing RB (Kingswood Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6710000 | &nbsp;&nbsp; 6710000 |
| **Pennsylvania Economic Development Financing Auth** |  |  |  |  |  |
| Economic Development RB 2005 Series B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| RB (Salem Rd) Series 2007D1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625000 |
| RB (UPMC) Series 2023D2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 142405000 | &nbsp;&nbsp; 142405000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2016-119  | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99803 |
| S/F Mortgage RB Series 2017-125A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 404978 |
| S/F Mortgage RB Series 2023-142A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4330000 | &nbsp;&nbsp; 4330000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| **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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| RB (Thomas Jefferson Univ) Series 2024D3 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 42700000 | &nbsp;&nbsp; 42700000 |
| **Pennsylvania State Turnpike Commission** |  |  |  |  |  |
| Turnpike Refunding RB Series 2023B (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1150000 |
| **Pennsylvania State Univ** |  |  |  |  |  |
| RB Series 2018 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Philadelphia** |  |  |  |  |  |
| CP Series B (**LOC**: ROYAL BANK OF CANADA) | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 2120000 | &nbsp;&nbsp; 2120000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**33**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 3665000 | &nbsp;&nbsp; 3665000 |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 10/16/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water & Wastewater Revenue CP Series A (**LOC**: BARCLAYS BANK <br> PLC) <br>| &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8500000 |
|  |  |  |  |  | &nbsp;&nbsp; **434804781** |
| **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; 10095470 |
| **Rhode Island Health & Educational Building Corp** |  |  |  |  |  |
| Educational Facilities RB (Brown Univ) 2017A (**LIQ**: WELLS FARGO <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5065000 | &nbsp;&nbsp; 5065000 |
| **Rhode Island Housing & Mortgage Finance Corp** |  |  |  |  |  |
| Homeownership Bonds Series 82-A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Homeownership Opportunity Bonds Series 85A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **23660470** |
| **SOUTH CAROLINA 0.5%** | **SOUTH CAROLINA 0.5%** | **SOUTH CAROLINA 0.5%** | **SOUTH CAROLINA 0.5%** | **SOUTH CAROLINA 0.5%** | **SOUTH CAROLINA 0.5%** |
| **Charleston County SD** |  |  |  |  |  |
| GO BAN Series 2025B | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 30825000 | &nbsp;&nbsp; 31302262 |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023B1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14840000 | &nbsp;&nbsp; 14840000 |
| **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; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4730000 | &nbsp;&nbsp; 4730000 |
| IRB (South Carolina Generating) Series 2008 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 33265000 | &nbsp;&nbsp; 33265000 |
| **South Carolina Ports Auth** |  |  |  |  |  |
| RB Series 2019B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  |  |  |  |  | &nbsp;&nbsp; **89727262** |
| **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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8780000 | &nbsp;&nbsp; 8780000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2021 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **South Dakota Housing Development Auth** |  |  |  |  |  |
| Homeownership Mortgage Bonds Series 2023A (**LIQ**: BANK OF <br> AMERICA NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
|  |  |  |  |  | &nbsp;&nbsp; **70380000** |
| **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> *(a)* | &nbsp;&nbsp; 2.15% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp; 1935000 |

---

*See financial notes*

**34**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| **Johnson City Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2022C (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 48815000 | &nbsp;&nbsp; 48815000 |
| Hospital Refunding RB (Ballad Health) Series 2022B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 81370000 | &nbsp;&nbsp; 81370000 |
| **Memphis** |  |  |  |  |  |
| GO CP Series A (**LIQ**: TD BANK NA) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| **Metro Government of Nashville & Davidson Cnty** |  |  |  |  |  |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/21/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp; 3085000 |
| **Metropolitan Knoxville Airport Auth** |  |  |  |  |  |
| Sub Airport RB Series 2025 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 16160000 | &nbsp;&nbsp; 16160000 |
| **Sevier Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds (Bedford Cnty) Series VIIQ1 (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 43500000 | &nbsp;&nbsp; 43500000 |
| Public Improvement Bonds Series VIIB1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27155000 | &nbsp;&nbsp; 27155000 |
| Public Improvement Bonds Series VIIB2 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp; 11600000 |
| **Tennessee Energy Acquisition Corp** |  |  |  |  |  |
| Commodity Project RB Series 2021A (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Program Bonds Series 2018-2  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 319288 |
| Residential Finance Program Bonds Series 2019-2  | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115000 |
| Residential Finance Program Bonds Series 2024-3C  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 18240000 | &nbsp;&nbsp; 18240000 |
|  |  |  |  |  | &nbsp;&nbsp; **328994288** |
| **TEXAS 19.8%** | **TEXAS 19.8%** | **TEXAS 19.8%** | **TEXAS 19.8%** | **TEXAS 19.8%** | **TEXAS 19.8%** |
| **Alamo CCD** |  |  |  |  |  |
| LT GO Refunding Bonds Series 2012 (**LIQ**: MORGAN STANLEY BANK <br> NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **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; 126412 |
| **Aledo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6235000 | &nbsp;&nbsp; 6235000 |
| **Allen ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **Argyle ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017B (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200406 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155336 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**35**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Arlington Higher Education Finance Corp** |  |  |  |  |  |
| Education RB (Great Hearts America) Series 2019A (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120251 |
| 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; 795000 | &nbsp;&nbsp; 804181 |
| **Austin** |  |  |  |  |  |
| Airport System RB Series 2019B (**LOC**: TORONTO-DOMINION <br> BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3460000 | &nbsp;&nbsp; 3460000 |
| **Austin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125192 |
| **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; 202174 |
| **Brownsville** |  |  |  |  |  |
| Utilities System CP Series A (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 2.83% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| **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; 1011868 |
| **Calhoun Cnty Navigation District** |  |  |  |  |  |
| Environmental Facilities RB (Formosa Plastics) Series 2006 <br> (**LOC**: BANK OF AMERICA NA)<br>*(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| **Calhoun Cnty Navigation IDA** |  |  |  |  |  |
| Port RB (Formosa Plastics) Series 2011C (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27500000 | &nbsp;&nbsp; 27500000 |
| **Calhoun Port Auth** |  |  |  |  |  |
| Environmental Facilities RB (Formosa Plastics) Series 2008 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45400000 | &nbsp;&nbsp; 45400000 |
| Environmental Facilities RB (Formosa Plastics) Series 2011B <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Environmental Facilities RB (Formosa Plastics) Series 2012 <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Port RB (Formosa Plastics) Series 2007A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31175000 | &nbsp;&nbsp; 31175000 |
| Port RB (Formosa Plastics) Series 2011A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32300000 | &nbsp;&nbsp; 32300000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13030000 | &nbsp;&nbsp; 13030000 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp; 2340000 |
| **Clifton Higher Ed Finance Corp** |  |  |  |  |  |
| Education RB (IDEA Public Schools) Series 2018 (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250401 |
| Education Refunding RB (IDEA Public Schools) Series 2017 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2204749 |
| 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4825000 | &nbsp;&nbsp; 4825000 |

---

*See financial notes*

**36**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5645000 | &nbsp;&nbsp; 5645000 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| **Corpus Christi ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500828 |
| **Crowley ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250340 |
| **Dallam Cnty IDC** |  |  |  |  |  |
| Economic Development RB (Hillmar Cheese) Series 2010 (**LOC**: BANK <br> OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Economic Development Refunding RB (Hilmar Cheese) Series 2009 <br> (**LOC**: WELLS FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 24500000 | &nbsp;&nbsp; 24500000 |
| IDRB (Morning Star Dairy) Series 2015 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |
| IDRB (Morning Star Dairy) Series 2018 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Dallas** |  |  |  |  |  |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Lien Sales Tax Refunding RB Series 2021B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2370000 | &nbsp;&nbsp; 2370000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 10/23/25 | &nbsp;&nbsp; 11597000 | &nbsp;&nbsp; 11597000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 15453000 | &nbsp;&nbsp; 15453000 |
| Sr Sub Lien Sales Tax Revenue CP Series III <br> *(c)* | &nbsp;&nbsp; 3.20% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 22800000 | &nbsp;&nbsp; 22800000 |
| **Dallas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Dallas-Fort Worth Int'l Airport Facility Improvement Corp** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 1999 <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| **Denison ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125197 |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 360722 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp; 1638773 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3915000 | &nbsp;&nbsp; 3915000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**37**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100226 |
| **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; 1004790 |
| **Eagle Mountain-Saginaw ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110244 |
| **Eanes ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185297 |
| **Ector Cnty Texas ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 711388 |
| **El Paso Tx Water and Sewer System** |  |  |  |  |  |
| Water & Sewer Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Fort Bend ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019C (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375876 |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125287 |
| ULT GO Refunding Bonds Series 2024A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 475757 |
| **Frenship ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Frisco ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 320661 |
| 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; 1494654 |
| **Georgetown ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375866 |
| ULT GO Refunding Bonds Series 2023A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 1445000 | &nbsp;&nbsp; 1447845 |
| **Glasscock ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 6930000 | &nbsp;&nbsp; 6948469 |
| **Greenwood ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PRO) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Gulf Coast Waste Disposal Auth** |  |  |  |  |  |
| RB (ExxonMobil) Series 2000 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 23475000 | &nbsp;&nbsp; 23475000 |
| RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (ExxonMobil) Series 2002 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 22040000 | &nbsp;&nbsp; 22040000 |
| **Hale Cnty IDC** |  |  |  |  |  |
| Economic Development RB (Silverado Developers) Series 2008 <br> (**LOC**: COOPERATIEVE RABOBANK UA)<br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |

---

*See financial notes*

**38**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 11570000 | &nbsp;&nbsp; 11570000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 790000 | &nbsp;&nbsp; 790000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.24% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 10825000 | &nbsp;&nbsp; 10825000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |
| **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; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Hospital RB (Memorial Hermann Health) Series 2024F <br> *(a)* | &nbsp;&nbsp; 1.55% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 48675000 | &nbsp;&nbsp; 48675000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 48665000 | &nbsp;&nbsp; 48665000 |
| Refunding RB (Methodist Hospital) Series 2009C1  | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 220000000 | &nbsp;&nbsp; 220000000 |
| Refunding RB (Methodist Hospital) Series 2009C2  | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 104000000 | &nbsp;&nbsp; 104000000 |
| **Harris Cnty Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Lafayette Village Apts) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10615000 | &nbsp;&nbsp; 10615000 |
| M/F Housing RB (Village At Cornerstone Apts) Series 2004 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| **Harris Cnty IDC - ExxonMobil** |  |  |  |  |  |
| Solid Waste Disposal RB (Exxon) Series 1997 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| 1st Lien Revenue CP Series K (**LIQ**: TRUIST BANK) | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 23667000 | &nbsp;&nbsp; 23667000 |
| **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; 202409 |
| **Houston** |  |  |  |  |  |
| Utility System 1st Lien Refunding RB Series 2020C | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150744 |
| **Houston Combined Utility System** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2004B4 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6555000 | &nbsp;&nbsp; 6555000 |
| **Houston ISD** |  |  |  |  |  |
| LT Refunding Bonds Series 2025B (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 78220000 | &nbsp;&nbsp; 79050544 |
| **Hutto ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200718 |
| **Irion Cnty ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500801 |
| **Klein ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1455000 | &nbsp;&nbsp; 1457055 |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 290314 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**39**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lamar Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023A (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Leander ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250601 |
| 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; 2733809 |
| ULT GO Refunding Bonds Series 2025A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3165000 | &nbsp;&nbsp; 3165000 |
| **Lewisville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 285563 |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150323 |
| **Little Elm ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100210 |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120280 |
| **Lower Neches Valley Auth** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 85900000 | &nbsp;&nbsp; 85900000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 29345000 | &nbsp;&nbsp; 29345000 |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B2 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 31600000 | &nbsp;&nbsp; 31600000 |
| RB (ExxonMobil) Series 2010 <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 40395000 | &nbsp;&nbsp; 40395000 |
| RB (ExxonMobil) Series 2012 <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 22795000 | &nbsp;&nbsp; 22795000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>*(f)* | &nbsp;&nbsp; 3.31% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 235152 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8350000 | &nbsp;&nbsp; 8350000 |
| **Mesquite ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 596390 |
| **Midlothian 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; 1015000 | &nbsp;&nbsp; 1027677 |
| **Midway ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 219690 |
| **Nederland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 751666 |
| **Nixon-Smiley Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 7560000 | &nbsp;&nbsp; 7577245 |

---

*See financial notes*

**40**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **North East ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140195 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System RB Extendable CP<br> *(c)* | &nbsp;&nbsp; 3.17% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 55000000 |
| **Northside ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200317 |
| ULT GO Refunding Bonds Series 2018A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125196 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Port of Houston Auth** |  |  |  |  |  |
| 1st Lien RB Series 2023 (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total Petrochemicals USA) Series 2009 <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 48685000 | &nbsp;&nbsp; 48685000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 74200000 | &nbsp;&nbsp; 74200000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| IDRB (Legacy Farms LP) Series 2024 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| IDRB (Route 86 Biogas) Series 2023 (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| IRDB (Central Texas Biogas) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)(b)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| IRDB (Cloverdale Renewables) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 36500000 | &nbsp;&nbsp; 36500000 |
| RB (ATOFINA Petrochemicals) Series 2003B <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Total Energies SE) Series 1998 <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18400000 | &nbsp;&nbsp; 18400000 |
| RB (TOTAL Petrochemicals USA) Series 2008 <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4205000 | &nbsp;&nbsp; 4205000 |
| **Rio Grande City Consolidated ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2024A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 380809 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp; 1575000 |
| **Royse City ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3465000 | &nbsp;&nbsp; 3465000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| **San Antonio** |  |  |  |  |  |
| Electric & Gas Refunding RB Series 2024B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1013053 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 38825000 | &nbsp;&nbsp; 38825000 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.89% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 50705000 | &nbsp;&nbsp; 50705000 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp; 1475000 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**41**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas Refunding RB Series 2023A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5905000 | &nbsp;&nbsp; 5905000 |
| Electric & Gas Refunding RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Electric & Gas Refunding RB Series 2024D (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6405000 | &nbsp;&nbsp; 6405000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4680000 | &nbsp;&nbsp; 4680000 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13200000 |
| **San Antonio ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125254 |
| **San Antonio Water System** |  |  |  |  |  |
| Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 52810000 | &nbsp;&nbsp; 52810000 |
| **San Marcos Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 951927 |
| **Santo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 290677 |
| **Seguin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140285 |
| **Socorro ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 601315 |
| **Sonora ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625503 |
| **Spring ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125258 |
| ULT GO Bonds Series 2024A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350702 |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100230 |
| **Taft ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99989 |
| **Tarrant Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: BANK <br> OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp; 2235000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| RB (Christus Health) Series 2016D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |

---

*See financial notes*

**42**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |
| RB (Christus Health) Series 2022A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| RB (Texas Health Resources) Series 2008A <br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| Refunding RB (Christus Health) Series 2008C2 (**LOC**: BANK OF NEW <br> YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| **Tarrant Regional Water District** |  |  |  |  |  |
| Water Transmission Facilities RB Series 2025 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| **Texas** |  |  |  |  |  |
| College Student Loan Refunding Bonds Series 2018  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160162 |
| GO Bonds Series 2002 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| GO Bonds Series 2005B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13160000 | &nbsp;&nbsp; 13160000 |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15480000 | &nbsp;&nbsp; 15480000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13765000 | &nbsp;&nbsp; 13765000 |
| GO Bonds Series 2015B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 975000 | &nbsp;&nbsp; 975000 |
| GO Bonds Series 2017 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7105000 | &nbsp;&nbsp; 7105000 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4885000 | &nbsp;&nbsp; 4885000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23385000 | &nbsp;&nbsp; 23385000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 83160000 | &nbsp;&nbsp; 83160000 |
| Veterans Bonds Series 2019 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp; 620000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20465000 | &nbsp;&nbsp; 20465000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 27105000 | &nbsp;&nbsp; 27105000 |
| Veterans' Housing Assistance Program Fund II Series 2001A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10800000 | &nbsp;&nbsp; 10800000 |
| Veterans Housing Assistance Program Fund II Series 2001C2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19635000 | &nbsp;&nbsp; 19635000 |
| Veterans' Housing Assistance Program Fund II Series 2002A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20855000 | &nbsp;&nbsp; 20855000 |
| Veterans' Housing Assistance Program Fund II Series 2003B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11485000 | &nbsp;&nbsp; 11485000 |
| Veterans' Housing Assistance Program Fund II Series 2004B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13350000 | &nbsp;&nbsp; 13350000 |
| Veterans Housing Assistance Program Fund II Series 2005A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3720000 | &nbsp;&nbsp; 3720000 |
| Veterans' Housing Assistance Program Fund II Series 2006A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16595000 | &nbsp;&nbsp; 16595000 |
| Veterans' Housing Assistance Program Fund II Series 2006D <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**43**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2007B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18200000 | &nbsp;&nbsp; 18200000 |
| Veterans Housing Assistance Program Fund II Series 2008A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19345000 | &nbsp;&nbsp; 19345000 |
| **Texas A&M Permanent Univ Fund** |  |  |  |  |  |
| Univ Fund Bonds Series 2009A (**GTY**: TEXAS PERMANENT <br> UNIVERSITY FUND)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp; 555000 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series B  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Series B  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 26358000 | &nbsp;&nbsp; 26358000 |
| **Texas Dept of Housing & Community Affairs** |  |  |  |  |  |
| M/F Housing RB (Idlewilde Apartments) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4190000 | &nbsp;&nbsp; 4190000 |
| M/F Housing RB (Lancaster Apts) Series 2007 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10880000 | &nbsp;&nbsp; 10880000 |
| M/F Housing RB (West Oaks Sr Apts) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10275000 | &nbsp;&nbsp; 10275000 |
| M/F Housing RB (Windshire Apts) Series 2007 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11300000 | &nbsp;&nbsp; 11300000 |
| M/F Housing RB (Woodmont Apts) Series 2009 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12205000 | &nbsp;&nbsp; 12205000 |
| Residential Mortgage RB Series 2024C (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| S/F Mortgage RB Series 2019A  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 229349 |
| S/F Mortgage RB Series 2021A  | &nbsp;&nbsp; 0.55% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149238 |
| S/F Mortgage RB Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7855000 | &nbsp;&nbsp; 7855000 |
| S/F Mortgage Refunding RB Series 2005A (**LIQ**: TEXAS (STATE OF)) <br> *(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4935000 | &nbsp;&nbsp; 4935000 |
| **Texas Municipal Gas Corp V** |  |  |  |  |  |
| Gas Supply RB Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Texas Public Finance Auth** |  |  |  |  |  |
| CP Series 2019A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 16325000 | &nbsp;&nbsp; 16325000 |
| Education RB (Kipp Austin Public Schools) Series 2014A (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125046 |
| **Texas Transportation Commission** |  |  |  |  |  |
| GO Bonds Series 2006B <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4365000 | &nbsp;&nbsp; 4365000 |
| State Highway Fund 1st Tier RB Series 2014B (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 69000000 | &nbsp;&nbsp; 69000000 |
| **Texas Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2018B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200758 |
| State Water Implementation Fund RB Series 2020  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140770 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 855000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |

---

*See financial notes*

**44**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| State Water Implementation Fund RB Series 2024A (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 7125000 | &nbsp;&nbsp; 7125000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9595000 | &nbsp;&nbsp; 9595000 |
| State Water Implementation RB Series 2024A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4110000 | &nbsp;&nbsp; 4110000 |
| **Texas Water Development Board Implementation Fund** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2024A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1640000 | &nbsp;&nbsp; 1640000 |
| **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; 303612 |
| **Troy ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150004 |
| **Tuloso-Midway ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150351 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2830000 | &nbsp;&nbsp; 2830000 |
| **United ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200408 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 2.81% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.86% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.84% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.96% |  | &nbsp;&nbsp; 11/18/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 41000000 | &nbsp;&nbsp; 41000000 |
| Revenue Financing Bonds Series 2016E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180401 |
| Revenue Financing Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 220348 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.54% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 29500000 | &nbsp;&nbsp; 29500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.37% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 12508000 | &nbsp;&nbsp; 12508000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 12200000 | &nbsp;&nbsp; 12200000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**45**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 C1  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 1714000 | &nbsp;&nbsp; 1714000 |
| Revenue Financing CP Series C1  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing System Bonds Series 2008B <br> *(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 260000 |
| Revenue Financing System Bonds Series 2019B (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36145000 | &nbsp;&nbsp; 36145000 |
| Revenue Financing System RB Series 2016D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 937030 |
| **Waco ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501001 |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |
| **Wylie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4025000 | &nbsp;&nbsp; 4025000 |
| ULT GO Refunding Bonds Series 2020A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>*(f)* | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 119518 |
| **Ysleta ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180360 |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4335000 | &nbsp;&nbsp; 4335000 |
|  |  |  |  |  | &nbsp;&nbsp; **3377500447** |
| **UTAH 0.8%** | **UTAH 0.8%** | **UTAH 0.8%** | **UTAH 0.8%** | **UTAH 0.8%** | **UTAH 0.8%** |
| **Logan City** |  |  |  |  |  |
| IDRB (Scientific Technology) Series 2001 (**LOC**: BANK OF MONTREAL)<br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 510000 |
| **Salt Lake City** |  |  |  |  |  |
| Airport RB Series 2017A & 2021A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6585000 | &nbsp;&nbsp; 6585000 |
| **Utah Cnty** |  |  |  |  |  |
| Hospital RB (IHC Health Services) Series 2016C (**LIQ**: BANK OF NEW <br> YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 86580000 | &nbsp;&nbsp; 86580000 |
| Hospital RB (IHC Health Services) Series 2016E (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1385000 | &nbsp;&nbsp; 1385000 |
| Hospital RB (IHC Health Services) Series 2020A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4875000 | &nbsp;&nbsp; 4875000 |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31995000 | &nbsp;&nbsp; 31995000 |
|  |  |  |  |  | &nbsp;&nbsp; **131930000** |
| **VIRGINIA 1.2%** | **VIRGINIA 1.2%** | **VIRGINIA 1.2%** | **VIRGINIA 1.2%** | **VIRGINIA 1.2%** | **VIRGINIA 1.2%** |
| **Albemarle Cnty Economic Development Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Sentara Health) Series 2018A <br> (**LIQ**: TD BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23750000 | &nbsp;&nbsp; 23750000 |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2016C <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 850000 |
| Helath Care RB (Inova Health) Series 2014A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; 10100000 |

---

*See financial notes*

**46**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12495000 | &nbsp;&nbsp; 12495000 |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System Refunding RB Series 2010C2 (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13860000 | &nbsp;&nbsp; 13860000 |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Hospital Facilities RB (Sentara Health) Series 2016A <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31555000 | &nbsp;&nbsp; 31555000 |
| **Virginia Small Business Financing Auth** |  |  |  |  |  |
| Environmental Facilities RB Series 2022 (**ESCROW**)  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Hospital RB (Carilion Clinic) Series 2008A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13900000 | &nbsp;&nbsp; 13900000 |
| Hospital RB (Carilion Clinic) Series 2008B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1145000 | &nbsp;&nbsp; 1145000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4050000 | &nbsp;&nbsp; 4050000 |
| **Winchester IDA** |  |  |  |  |  |
| RB (Valley Health System) Series 2024B1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36955000 | &nbsp;&nbsp; 36955000 |
| RB (Valley Health System) Series 2024B2 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24700000 | &nbsp;&nbsp; 24700000 |
|  |  |  |  |  | &nbsp;&nbsp; **203725000** |
| **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** | **WASHINGTON 2.0%** |
| **Ellensburg SD #401** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 513309 |
| **Evergreen SD #114** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2024 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125841 |
| **Issaquah SD #411** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201886 |
| **Kennewick SD #17** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: WASHINGTON (STATE OF))  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 377526 |
| ULT GO Refunding Bonds Series 2025 (**GTY**: WASHINGTON (STATE <br> OF)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 2040000 | &nbsp;&nbsp; 2058998 |
| **King Cnty SD #400 Mercer Island** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2024 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252025 |
| **King Cnty SD #403 Renton** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99752 |
| **King Cnty Sewer System** |  |  |  |  |  |
| LT GO CP Series A | &nbsp;&nbsp; 2.96% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| **Lake Washington SD #414** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: WASHINGTON (STATE OF))  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135909 |
| ULT GO Refunding Bnods Series 2016 (**GTY**: WASHINGTON (STATE <br> OF)) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 171373 |
| ULT GO Refunding Bonds Series 2015 (**GTY**: WASHINGTON (STATE <br> OF)) <br>| &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1001492 |
| ULT GO Refunding Bonds Series 2020 (**GTY**: WASHINGTON (STATE <br> OF)) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1004085 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**47**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Mead SD No 354** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100578 |
| **Monroe SD No 103** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp; 548602 |
| **Moses Lake SD #161** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225943 |
| **Mukilteo SD #6** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 262056 |
| **North Thurston Public Schools** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2012 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699280 |
| **Port Bellingham IDA** |  |  |  |  |  |
| IDRB (Hempler Foods) Series 2006 (**LOC**: BANK OF MONTREAL)<br> *(a)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6125000 | &nbsp;&nbsp; 6125000 |
| **Port of Seattle** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100413 |
| Intermediate Lien RB Series 2017D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/26 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2662329 |
| Intermediate Lien RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp; 2585000 |
| Intermediate Lien RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.98% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4055000 | &nbsp;&nbsp; 4055000 |
| Intermediate Lien Refunding RB Series 2021C (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Intermediate Lien Refunding RB Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130206 |
| Intermediate Lien Refunding RB Series 2022B (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |
| Intermediate Lien Refunding RB Series 2024B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3495000 | &nbsp;&nbsp; 3495000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3060000 | &nbsp;&nbsp; 3060000 |
| Sub Lien Refunding RB Series 2008 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.09% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 123435000 | &nbsp;&nbsp; 123435000 |
| **Seattle** |  |  |  |  |  |
| Light & Power Refunding RB Series 2023A (**LIQ**: BANK OF AMERICA <br> NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp; 3330000 |
| **Skagit SD #103** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150504 |
| **Sumner SD #320** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2014 (**GTY**: WASHINGTON (STATE <br> OF))<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1385000 | &nbsp;&nbsp; 1385356 |
| **Washington** |  |  |  |  |  |
| COP Series 2019D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 290000 |
| COP Series 2020D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225000 |
| COP Series 20216A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| COP Series 2022B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170000 |
| GO Bonds Series 2003C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11625000 | &nbsp;&nbsp; 11625000 |
| GO Bonds Series 2016A2  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450511 |
| GO Bonds Series 2022C (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |

---

*See financial notes*

**48**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| GO Bonds Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| GO Bonds Series 2025C (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14370000 | &nbsp;&nbsp; 14370000 |
| GO Refunding Bonds R2025B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| GO Refunding Bonds Series R2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155000 |
| GO Refunding Bonds Series R2017C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200321 |
| GO Refunding Bonds Series R2018C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 355383 |
| GO Refunding Bonds Series R2018D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 5355000 | &nbsp;&nbsp; 5362855 |
| GO Refunding Bonds Series R2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1590000 | &nbsp;&nbsp; 1590000 |
| GO Refunding Bonds Series R2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 16190000 | &nbsp;&nbsp; 16190000 |
| GO Refunding Bonds Series R2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 5745000 | &nbsp;&nbsp; 5753396 |
| Go Refunding Bonds Series R2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 41795000 | &nbsp;&nbsp; 41795000 |
| Motor Vehicle Fuel Tax GO Bonds Series 2025D (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 4020000 | &nbsp;&nbsp; 4020000 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2021D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 265000 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2024C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250371 |
| Motor Vehicle Fule Tax GO Refunding Bonds Series R2023B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| **Washington Economic Development Finance Auth** |  |  |  |  |  |
| Solid Waste Disposal RB (Waste Management) Series 2002D <br> (**LOC**: JPMORGAN CHASE BANK NA)<br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16450000 | &nbsp;&nbsp; 16450000 |
| **Washington State Housing Finance Commission** |  |  |  |  |  |
| M/F Housing RB (Clark Island) Series 2007 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5325000 | &nbsp;&nbsp; 5325000 |
| M/F Housing RB (Parkview Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2955000 | &nbsp;&nbsp; 2955000 |
|  |  |  |  |  | &nbsp;&nbsp; **344610300** |
| **WEST VIRGINIA 0.4%** | **WEST VIRGINIA 0.4%** | **WEST VIRGINIA 0.4%** | **WEST VIRGINIA 0.4%** | **WEST VIRGINIA 0.4%** | **WEST VIRGINIA 0.4%** |
| **Putnam Cnty Commission** |  |  |  |  |  |
| Solid Waste Disposal RB (Toyota Motor Manufacturing) Series 1998A<br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 21340000 | &nbsp;&nbsp; 21340000 |
|  |  |  |  |  | &nbsp;&nbsp; **61340000** |
| **WISCONSIN 1.6%** | **WISCONSIN 1.6%** | **WISCONSIN 1.6%** | **WISCONSIN 1.6%** | **WISCONSIN 1.6%** | **WISCONSIN 1.6%** |
| **Appleton** |  |  |  |  |  |
| Recovery Zone Facility Bonds (Foremost Farms) Series 2010 <br> (**LOC**: BMO BANK NA)<br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 73900000 | &nbsp;&nbsp; 73900000 |
| **Wisconsin Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Advocate Aurora Health) Series 2018B4 (**LIQ**: JP MORGAN <br> SECURITIES LLC)<br>*(b)(c)(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**49**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2003B (**LIQ**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2870000 | &nbsp;&nbsp; 2870000 |
| Home Ownership RB Series 2021D (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Home Ownership RB Series 2024A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7295000 | &nbsp;&nbsp; 7295000 |
| Home Ownership RB Series 2024B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Housing RB Series 2018A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| M/F Housing Bonds Series 2008A (**LIQ**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7495000 | &nbsp;&nbsp; 7495000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023B (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 18400000 | &nbsp;&nbsp; 18400000 |
| Health System Refunding RB (Cone Health) Series 2023D <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 61845000 | &nbsp;&nbsp; 61845000 |
| Health System Refunding RB (Cone Health) Series 2023E <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| Solid Waste Disposal RB (Coleman Ponderosa) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **271810000** |
| **WYOMING 0.6%** | **WYOMING 0.6%** | **WYOMING 0.6%** | **WYOMING 0.6%** | **WYOMING 0.6%** | **WYOMING 0.6%** |
| **Lincoln Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6710000 | &nbsp;&nbsp; 6710000 |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 45700000 | &nbsp;&nbsp; 45700000 |
| **Sublette Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Exxon Mobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 22400000 | &nbsp;&nbsp; 22400000 |
| **Sweetwater Cnty** |  |  |  |  |  |
| RB (Simplot Phosphates) Series 2007 (**LOC**: COOPERATIEVE <br> RABOBANK UA) <br>*(a)* | &nbsp;&nbsp; 2.05% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32700000 | &nbsp;&nbsp; 32700000 |
|  |  |  |  |  | &nbsp;&nbsp; **107510000** |
| **MULTIPLE STATES 6.3%** | **MULTIPLE STATES 6.3%** | **MULTIPLE STATES 6.3%** | **MULTIPLE STATES 6.3%** | **MULTIPLE STATES 6.3%** | **MULTIPLE STATES 6.3%** |
| **AllianceBernstein National Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2024 (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 74000000 | &nbsp;&nbsp; 74000000 |
| Variable Rate Demand Preferred Shares Series W7A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |

---

*See financial notes*

**50**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **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; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 40900000 | &nbsp;&nbsp; 40900000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 80500000 | &nbsp;&nbsp; 80500000 |
| **Nuveen AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 103300000 | &nbsp;&nbsp; 103300000 |
| **Nuveen Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29200000 | &nbsp;&nbsp; 29200000 |
| **Western Asset Managed Municipals Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 93000000 | &nbsp;&nbsp; 93000000 |
| Variable Rate Demand Preferred Shares Series 2 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 2.08% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp; 12600000 |
|  |  |  |  |  | &nbsp;&nbsp; **1068600000** |
| **Total Municipal Securities** <br>**(Cost $17,123,310,948)** | **Total Municipal Securities** <br>**(Cost $17,123,310,948)** | **Total Municipal Securities** <br>**(Cost $17,123,310,948)** | **Total Municipal Securities** <br>**(Cost $17,123,310,948)** | **Total Municipal Securities** <br>**(Cost $17,123,310,948)** | &nbsp;&nbsp; **17123310948** |
| **Total Investments in Securities** <br>**(Cost $17,123,310,948)** | **Total Investments in Securities** <br>**(Cost $17,123,310,948)** | **Total Investments in Securities** <br>**(Cost $17,123,310,948)** | **Total Investments in Securities** <br>**(Cost $17,123,310,948)** | **Total Investments in Securities** <br>**(Cost $17,123,310,948)** | &nbsp;&nbsp; **17123310948** |

---

&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 $5,123,976,000 or 30.0% 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;*(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*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**51**

------

Schwab Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| CCD — | Community college district |
| COP — | Certificate of participation |
| CP — | Commercial paper |
| CSD — | Central school district |
| GO — | General obligation |
| 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>|
| TOB — | Tender option bond |
| TRAN — | Tax and revenue anticipation note |
| UFSD — | Union free school district |
| ULT — | Unlimited tax |
| VRDN — | Variable rate demand note |

---

------

At June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**52**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $17123310948 |
| Cash |  | 4211 |
| Receivables: |  |  |
| Investments sold |  | 133319452 |
| Interest |  | 76171349 |
| Fund shares sold |  | 60585303 |
| Prepaid expenses | + | 285115 |
| **Total assets** |  | **17393676378** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 194541996 |
| Investments bought - delayed-delivery |  | 129963898 |
| Distributions to shareholders |  | 8719136 |
| Investment adviser and administrator fees |  | 2529076 |
| Shareholder service fees |  | 89866 |
| Accrued expenses | + | 474312 |
| **Total liabilities** |  | **336318284** |
| **Net assets** |  | **$17057358094** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $17057312202 |
| Total distributable earnings | + | 45892 |
| **Net assets** |  | **$17057358094** |

---

&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 | $4366992652 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4365903782 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $12690365442 |  | &nbsp;&nbsp;&nbsp;&nbsp; 12687197840 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**53**

------

Schwab Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$240399502** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 16093350 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 3220148 |
| Registration fees |  | 261911 |
| Portfolio accounting fees |  | 125967 |
| Custodian fees |  | 47348 |
| Professional fees |  | 30474 |
| Independent trustees' fees |  | 29865 |
| Shareholder reports |  | 15545 |
| Transfer agent fees  |  | 631 |
| Other expenses | + | 42000 |
| **Total expenses** |  | **19867239** |
| Expense reduction | – | 553665 |
| **Net expenses** | – | **19313574** |
| **Net investment income** |  | **221085928** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **45892** |
| **Increase in net assets resulting from operations** |  | **$221131820** |

---

*See financial notes*

**54**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $221085928 | &nbsp;&nbsp;&nbsp; $511190567 |
| Net realized gains | + | 45892 | &nbsp;&nbsp;&nbsp; 231056 |
| **Increase in net assets from operations** |  | **$221131820** | &nbsp;&nbsp;&nbsp; **$511421623** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($53579295)<br>| &nbsp;&nbsp;&nbsp; ($121606338)<br>|
| Ultra Shares | + | (167506633)<br>| &nbsp;&nbsp;&nbsp; (389780012)<br>|
| **Total distributions** |  | **($221085928)**<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 |  | 3366760422 | &nbsp;&nbsp;&nbsp; 6071296832 |
| Ultra Shares | + | 11522649415 | &nbsp;&nbsp;&nbsp; 24513762814 |
| **Total shares sold** |  | **14889409837** | &nbsp;&nbsp;&nbsp; **30585059646** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 38469429 | &nbsp;&nbsp;&nbsp; 87283141 |
| Ultra Shares | + | 126806727 | &nbsp;&nbsp;&nbsp; 284418748 |
| **Total shares reinvested** |  | **165276156** | &nbsp;&nbsp;&nbsp; **371701889** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (3384227048)<br>| &nbsp;&nbsp;&nbsp; (5815604674)<br>|
| Ultra Shares | + | (12169170342)<br>| &nbsp;&nbsp;&nbsp; (24135463679)<br>|
| **Total shares redeemed** |  | **(15553397390)**<br>| &nbsp;&nbsp;&nbsp; **(29951068353)**<br>|
| **Net transactions in fund shares** |  | **(498711397)**<br>| &nbsp;&nbsp;&nbsp; **1005693182** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $17556023599 | &nbsp;&nbsp;&nbsp; $16550295144 |
| Total increase (decrease) | + | (498665505)<br>| &nbsp;&nbsp;&nbsp; 1005728455 |
| **End of period** |  | **$17057358094** | &nbsp;&nbsp;&nbsp; **$17556023599** |

---

&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 Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**55**

------

Schwab AMT Tax-Free Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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>| &nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.24 %<sup>3</sup><br>| 3.07<br> %<br>| 3.02<br> %<br>| 0.90<br> %<br>| 0.02<br> %<br>| 0.34<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>5,6</sup><br>| 0.11 %<sup>6</sup><br>| 0.31 %<sup>6,7</sup><br>|
| Total expenses | 0.36 %<sup>4</sup><br>| 0.36<br> %<br>| 0.38<br> %<br>| 0.37 %<sup>5</sup><br>| 0.37<br> %<br>| 0.49<br> %<br>|
| Net investment income (loss) | 2.48 %<sup>4</sup><br>| 3.02<br> %<br>| 2.97<br> %<br>| 1.01<br> %<br>| 0.01<br> %<br>| 0.38<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1230 | &nbsp;&nbsp; $1234 | &nbsp;&nbsp; $1075 | &nbsp;&nbsp; $875 | &nbsp;&nbsp; $644 | &nbsp;&nbsp; $835 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

**56**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual 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>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.31 %<sup>4</sup><br>| 3.23<br> %<br>| 3.17<br> %<br>| 1.03<br> %<br>| 0.02<br> %<br>| 0.01 %<sup>4</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>6,7</sup><br>| 0.11 %<sup>7</sup><br>| 0.19 %<sup>5,7</sup><br>|
| Total expenses | 0.21 %<sup>5</sup><br>| 0.21<br> %<br>| 0.23<br> %<br>| 0.22 %<sup>6</sup><br>| 0.22<br> %<br>| 0.22 %<sup>5</sup><br>|
| Net investment income (loss) | 2.62 %<sup>5</sup><br>| 3.17<br> %<br>| 3.17<br> %<br>| 1.50<br> %<br>| 0.01<br> %<br>| 0.02 %<sup>5</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2312 | &nbsp;&nbsp; $2765 | &nbsp;&nbsp; $2065 | &nbsp;&nbsp; $967 | &nbsp;&nbsp; $161 | &nbsp;&nbsp; $229 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</sup> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**57**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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 |
| **ALABAMA 5.3%** | **ALABAMA 5.3%** | **ALABAMA 5.3%** | **ALABAMA 5.3%** | **ALABAMA 5.3%** | **ALABAMA 5.3%** |
| **Alabama Special Care Facility Financing Auth** |  |  |  |  |  |
| RB (Ascension Health) Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6490000 | &nbsp;&nbsp; 6490000 |
| Gas Project RB Series 2024D (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Gas RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Mobile Cnty IDA** |  |  |  |  |  |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B <br> (**LOC**: SWEDBANK AB) <br>*(d)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (**LOC**: NORDEA <br> BANK ABP) <br>*(d)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(d)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2335000 | &nbsp;&nbsp; 2335000 |
| Commodity Supply RB (Project No 6) Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7675000 | &nbsp;&nbsp; 7675000 |
| Energy Supply RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9920000 | &nbsp;&nbsp; 9920000 |
| Energy Supply RB Series 2025A (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Energy Supply RB Series 2025A (**LOC**: TORONTO-DOMINION BANK/THE) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6505000 | &nbsp;&nbsp; 6505000 |
|  |  |  |  |  | &nbsp;&nbsp; **188320000** |
| **ARIZONA 2.2%** | **ARIZONA 2.2%** | **ARIZONA 2.2%** | **ARIZONA 2.2%** | **ARIZONA 2.2%** | **ARIZONA 2.2%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Banner Health) Series 2007B (**LIQ**: MORGAN STANLEY BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9900000 | &nbsp;&nbsp; 9900000 |

---

*See financial notes*

**58**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| CP (Banner Health)  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP (Banner Health)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Hospital RB (HonorHealth) Series 2024C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital Refunding RB (HonorHealth) Series 2024B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Banner Health) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110973 |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7010000 | &nbsp;&nbsp; 7010000 |
| Electric System RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Yavapai Cnty IDA** |  |  |  |  |  |
| RB (Skanon Investments Drake Cement) Series 2010A (**LOC**: BANK OF <br> NOVA SCOTIA) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18500000 | &nbsp;&nbsp; 18500000 |
|  |  |  |  |  | &nbsp;&nbsp; **79020973** |
| **CALIFORNIA 0.6%** | **CALIFORNIA 0.6%** | **CALIFORNIA 0.6%** | **CALIFORNIA 0.6%** | **CALIFORNIA 0.6%** | **CALIFORNIA 0.6%** |
| **California State Univ** |  |  |  |  |  |
| CP Series A1 (**LOC**: BARCLAYS BANK PLC) | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 7650000 | &nbsp;&nbsp; 7650000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.87% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 7595000 | &nbsp;&nbsp; 7595000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2017A | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
|  |  |  |  |  | &nbsp;&nbsp; **21895000** |
| **COLORADO 3.8%** | **COLORADO 3.8%** | **COLORADO 3.8%** | **COLORADO 3.8%** | **COLORADO 3.8%** | **COLORADO 3.8%** |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Advent Health) Series 2019A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| RB (Children's Hospital Colorado) Series 2016B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1365000 | &nbsp;&nbsp; 1365000 |
| RB (Intermountain Healthcare) Series 2024D <br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4820000 | &nbsp;&nbsp; 4820000 |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1165000 | &nbsp;&nbsp; 1165000 |
| **Colorado Regional Transportation District** |  |  |  |  |  |
| Sales Tax Refunding RB (FasTracks) Series 2007A (**LIQ**: CITIBANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7205000 | &nbsp;&nbsp; 7205000 |
| **Denver** |  |  |  |  |  |
| Dedicated Tax RB Series 2021A (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2018A  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302248 |
| GO Bonds Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| GO Bonds Series 2025C (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 30750000 | &nbsp;&nbsp; 30750000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 34125000 | &nbsp;&nbsp; 34125000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**59**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water Refunding RB Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3960000 | &nbsp;&nbsp; 3960000 |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018C (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6025000 | &nbsp;&nbsp; 6025000 |
| Refunding RB Series 2025A <br> *(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
|  |  |  |  |  | &nbsp;&nbsp; **135932248** |
| **CONNECTICUT 0.2%** | **CONNECTICUT 0.2%** | **CONNECTICUT 0.2%** | **CONNECTICUT 0.2%** | **CONNECTICUT 0.2%** | **CONNECTICUT 0.2%** |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS BANK <br> PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160000 |
| **Darien** |  |  |  |  |  |
| GO BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 04/23/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8058897 |
|  |  |  |  |  | &nbsp;&nbsp; **8218897** |
| **DISTRICT OF COLUMBIA 0.9%** | **DISTRICT OF COLUMBIA 0.9%** | **DISTRICT OF COLUMBIA 0.9%** | **DISTRICT OF COLUMBIA 0.9%** | **DISTRICT OF COLUMBIA 0.9%** | **DISTRICT OF COLUMBIA 0.9%** |
| **District of Columbia** |  |  |  |  |  |
| GO Bonds Series 2023A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3720000 | &nbsp;&nbsp; 3720000 |
| Income Tax Secured RB Series 2019A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3315000 | &nbsp;&nbsp; 3315000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A<br> *(b)* | &nbsp;&nbsp; 2.88% | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19300000 |
|  |  |  |  |  | &nbsp;&nbsp; **30815000** |
| **FLORIDA 3.7%** | **FLORIDA 3.7%** | **FLORIDA 3.7%** | **FLORIDA 3.7%** | **FLORIDA 3.7%** | **FLORIDA 3.7%** |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 6905000 | &nbsp;&nbsp; 6905000 |
| **Florida** |  |  |  |  |  |
| Bonds Series 2020A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245000 |
| Bridge Construction Bonds Series 2018B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp; 805000 |
| Refunding Bonds Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Refunding Bonds Series 2021B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| M/F Mortgage RB (Autumn Place Apts) Series 2008K1 (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5220000 | &nbsp;&nbsp; 5220000 |
| M/F Mortgage RB (Hudson Ridge Apts) Series 2008L (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3455000 | &nbsp;&nbsp; 3455000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Health Care Refunding RB (Baptist Health) Series 2019B <br> *(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13200000 |
| Health Care Refunding RB (Baptist Health) Series 2019D <br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15620000 | &nbsp;&nbsp; 15620000 |
| Health Care Refunding RB (Baptist Health) Series 2019E <br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **JEA Water & Sewer System** |  |  |  |  |  |
| Water & Sewer System RB Series 2024A (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3525000 | &nbsp;&nbsp; 3525000 |
| Water & Sewer System RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3545000 | &nbsp;&nbsp; 3545000 |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |

---

*See financial notes*

**60**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Miami-Dade Cnty** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2635000 | &nbsp;&nbsp; 2635000 |
| Professional Sports Franchise Facilities Tax RB Series 2009E (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp; 1120000 |
| Special Obligation RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.09% |  | &nbsp;&nbsp; 07/01/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5430000 | &nbsp;&nbsp; 5430000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| **Orlando Utilities Commission** |  |  |  |  |  |
| Utility System Refunding RB Series 2013A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 401675 |
|  |  |  |  |  | &nbsp;&nbsp; **130776675** |
| **GEORGIA 1.5%** | **GEORGIA 1.5%** | **GEORGIA 1.5%** | **GEORGIA 1.5%** | **GEORGIA 1.5%** | **GEORGIA 1.5%** |
| **Atlanta** |  |  |  |  |  |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 12995000 | &nbsp;&nbsp; 12995000 |
| Water & Wastewater CP Series 2024A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 4824000 | &nbsp;&nbsp; 4824000 |
| **Columbia Cnty Hospital Auth** |  |  |  |  |  |
| Revenue Anticipation Certificates (Wellstar Health) Series 2023A <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3650000 |
| **Georgia** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: CITIBANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Georgia Municipal Electric Auth** |  |  |  |  |  |
| Plant Vogtle Units 3 & 4 Project M Bonds Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Main Street Natural Gas Inc** |  |  |  |  |  |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023C <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5375000 | &nbsp;&nbsp; 5375000 |
| Gas Supply RB Series 2023E2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **52844000** |
| **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; 3.65% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 4485000 | &nbsp;&nbsp; **4485000** |
| **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** | **ILLINOIS 3.2%** |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| Pooled Program CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| RB (Chicago Horticultural Society) Series 1999 (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7695000 | &nbsp;&nbsp; 7695000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1545000 | &nbsp;&nbsp; 1545000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**61**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6625000 | &nbsp;&nbsp; 6625000 |
| RB Series 2023D (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB Series 2023P (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14200000 | &nbsp;&nbsp; 14200000 |
| **Illinois Hsg Dev Auth 2016** |  |  |  |  |  |
| M/F RB Series 2024A (**LIQ**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19820000 | &nbsp;&nbsp; 19820000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2000A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| GO Bonds Series 2003A  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375000 |
| GO Bonds Series 2018B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| GO Bonds Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Toll Highway Sr RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp; 1975000 |
| Toll Highway Sr RB Series 2021A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Toll Highway Sr RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp; 2650000 |
| **Palatine** |  |  |  |  |  |
| Special Facility RB (Little City for Community Development) Series 1998 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 2.14% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
|  |  |  |  |  | &nbsp;&nbsp; **113205000** |
| **INDIANA 2.4%** | **INDIANA 2.4%** | **INDIANA 2.4%** | **INDIANA 2.4%** | **INDIANA 2.4%** | **INDIANA 2.4%** |
| **Indiana Finance Auth** |  |  |  |  |  |
| Economic Development RB (AC Grain) Series 2012 (**LOC**: COBANK ACB) <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| Economic Development RB (Cargill) Series 2011 <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp; 890000 |
| Health System RB (Indiana Univ Health) Series 2025A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Health System RB (Indiana Univ Health) Series 2025B (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2024A1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5360000 | &nbsp;&nbsp; 5360000 |
| S/F Mortgage RB Series 2024B1 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6035000 | &nbsp;&nbsp; 6035000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| S/F Mortgage RB Series 2025B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5030000 | &nbsp;&nbsp; 5030000 |
|  |  |  |  |  | &nbsp;&nbsp; **85220000** |

---

*See financial notes*

**62**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **IOWA 0.5%** | **IOWA 0.5%** | **IOWA 0.5%** | **IOWA 0.5%** | **IOWA 0.5%** | **IOWA 0.5%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| Midwestern Disaster Area RB (Cargill) Series 2009A <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp; 1390000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(d)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4060000 | &nbsp;&nbsp; 4060000 |
|  |  |  |  |  | &nbsp;&nbsp; **17850000** |
| **KENTUCKY 2.2%** | **KENTUCKY 2.2%** | **KENTUCKY 2.2%** | **KENTUCKY 2.2%** | **KENTUCKY 2.2%** | **KENTUCKY 2.2%** |
| **Kentucky Bond Development Corp** |  |  |  |  |  |
| Hospital RB (Baptist Healthcare) Series 2025D (**LOC**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| **Kentucky Economic Development Finance Auth** |  |  |  |  |  |
| RB (Goodwill Industries of Kentucky Inc) Series 2025 (**LOC**: PNC BANK <br> NA)<br>*(d)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| Sewer & Drainage System Sub CP Series 2023A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Sewer & Drainage System Sub CP Series 2023A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>| &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 3110000 | &nbsp;&nbsp; 3110000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3290000 | &nbsp;&nbsp; 3290000 |
| Gas Supply Refunding RB Series 2023A1 (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4765000 | &nbsp;&nbsp; 4765000 |
|  |  |  |  |  | &nbsp;&nbsp; **77060000** |
| **LOUISIANA 0.7%** | **LOUISIANA 0.7%** | **LOUISIANA 0.7%** | **LOUISIANA 0.7%** | **LOUISIANA 0.7%** | **LOUISIANA 0.7%** |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| Hospital RB (Louisiana Children's Medical Center) Series 2017A <br> (**LOC**: UBS AG) <br>*(d)* | &nbsp;&nbsp; 1.91% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Refunding RB (Christus Health) Series 2009B1 (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2910000 | &nbsp;&nbsp; 2910000 |
| Refunding RB (Ochsner Clinic Foundation) Series 2025A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
|  |  |  |  |  | &nbsp;&nbsp; **25660000** |
| **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage Purchase Bonds Series 2021A  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 128636 |
| Mortgage Purchase Bonds Series 2023E  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700660 |
| Mortgage RB Series 2024D & 2024F (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5555000 | &nbsp;&nbsp; 5555000 |
|  |  |  |  |  | &nbsp;&nbsp; **6384296** |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**63**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** | **MARYLAND 0.7%** |
| **Howard Cnty** |  |  |  |  |  |
| Recovery Zone Facility RB (Lorien at Elkridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Recovery Zone Facility RB (Meadowridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6425000 | &nbsp;&nbsp; 6425000 |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Univ of Maryland Medical System) Series 2025C1 (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 410000 |
| **Montgomery Cnty** |  |  |  |  |  |
| CP BAN 2010B (**LIQ**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 3333000 | &nbsp;&nbsp; 3333000 |
| RB (Trinity Health) Series 2015MD (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8810000 | &nbsp;&nbsp; 8810000 |
|  |  |  |  |  | &nbsp;&nbsp; **24978000** |
| **MASSACHUSETTS 7.3%** | **MASSACHUSETTS 7.3%** | **MASSACHUSETTS 7.3%** | **MASSACHUSETTS 7.3%** | **MASSACHUSETTS 7.3%** | **MASSACHUSETTS 7.3%** |
| **Massachusetts** |  |  |  |  |  |
| GO Bonds Series 2016B (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| GO Bonds Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11540000 | &nbsp;&nbsp; 11540000 |
| GO Bonds Series 2024B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5330000 | &nbsp;&nbsp; 5330000 |
| GO Bonds Series 2024E (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| GO Bonds Series 2024I (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| GO Bonds Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Refunding Bonds Series 2017D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 270000 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Sales Tax CP Series C (**LIQ**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sr Sales Tax Bonds Series 2005A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 790000 | &nbsp;&nbsp; 790000 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 2.89% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Boston Univ) Series 2025A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 9600000 | &nbsp;&nbsp; 9600000 |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4745000 | &nbsp;&nbsp; 4745000 |
| RB (Partners HealthCare System) Series 2015O2  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| RB (Partners HealthCare System) Series 2016Q  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180000 |
| RB Series V 2024 (**LOC**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing RB Series 2016I (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14745000 | &nbsp;&nbsp; 14745000 |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| M/F Housing Bonds Series 2024A1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp; 1215000 |
| **Massachusetts Water Resources Auth** |  |  |  |  |  |
| Water CP Series 2016 (**LOC**: TD BANK NA) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/30/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20900000 | &nbsp;&nbsp; 20900000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29700000 | &nbsp;&nbsp; 29700000 |

---

*See financial notes*

**64**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 71000000 |
|  |  |  |  |  | &nbsp;&nbsp; **258825000** |
| **MICHIGAN 1.9%** | **MICHIGAN 1.9%** | **MICHIGAN 1.9%** | **MICHIGAN 1.9%** | **MICHIGAN 1.9%** | **MICHIGAN 1.9%** |
| **Lenawee Cnty Economic Development Corp** |  |  |  |  |  |
| Refunding RB (Siena Heights Univ) Series 2009 (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1770000 | &nbsp;&nbsp; 1770000 |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(b)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 12750000 | &nbsp;&nbsp; 12750000 |
| Hospital Refunding RB (Henry Ford Health System) Series 2016 <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4550000 | &nbsp;&nbsp; 4550000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 1045000 |
| **Michigan Hospital Finance Auth** |  |  |  |  |  |
| Refunding RB (Ascension Health) Series 2010F7 (**LIQ**: JPMORGAN <br> CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp; 1955000 |
| S/F Mortgage RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7365000 | &nbsp;&nbsp; 7365000 |
| S/F Mortgage RB Series 2025A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Univ of Michigan** |  |  |  |  |  |
| CP Notes Series L1  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 7935000 | &nbsp;&nbsp; 7935000 |
| Extendible CP Notes Series L2 <br> *(b)* | &nbsp;&nbsp; 3.06% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| General RB Series 2009B  | &nbsp;&nbsp; 3.01% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **66285000** |
| **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** | **MINNESOTA 1.1%** |
| **Burnsville** |  |  |  |  |  |
| M/F Housing Refunding RB (Bridgeway Apts) Series 2003 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.21% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14805000 | &nbsp;&nbsp; 14805000 |
| **Mayo Clinic** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2025A (**LIQ**: BANK OF <br> AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1435000 | &nbsp;&nbsp; 1435000 |
| **Minneapolis** |  |  |  |  |  |
| Student Residence RB Series 2003 (**LOC**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 2.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2008A <br> *(d)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7420000 | &nbsp;&nbsp; 7420000 |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **St. Louis Park** |  |  |  |  |  |
| M/F Housing RB (Shoreham Project) Series 2015B (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 2.21% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
|  |  |  |  |  | &nbsp;&nbsp; **40370000** |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**65**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MISSISSIPPI 1.1%** | **MISSISSIPPI 1.1%** | **MISSISSIPPI 1.1%** | **MISSISSIPPI 1.1%** | **MISSISSIPPI 1.1%** | **MISSISSIPPI 1.1%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010A <br> *(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10465000 | &nbsp;&nbsp; 10465000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011D <br> *(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3175000 | &nbsp;&nbsp; 3175000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011E <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3290000 | &nbsp;&nbsp; 3290000 |
| IDRB (Chevron) Series 2007A <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15300000 | &nbsp;&nbsp; 15300000 |
| **Mississippi Home Corp** |  |  |  |  |  |
| S/F Mortgage RB Series 2023C (**LIQ**: TORONTO-DOMINION BANK/THE)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
|  |  |  |  |  | &nbsp;&nbsp; **37430000** |
| **MISSOURI 0.9%** | **MISSOURI 0.9%** | **MISSOURI 0.9%** | **MISSOURI 0.9%** | **MISSOURI 0.9%** | **MISSOURI 0.9%** |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| CP (BJC Health System) Series D  | &nbsp;&nbsp; 2.96% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 24000000 | &nbsp;&nbsp; 24000000 |
| Health Facilities RB (BJC Health System) Series 2021A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Health Facilities RB (Mercy Health) Series 2020 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3440000 | &nbsp;&nbsp; 3440000 |
| **St Louis County** |  |  |  |  |  |
| Special Obligation RB (Convention Center) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.03% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
|  |  |  |  |  | &nbsp;&nbsp; **33035000** |
| **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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| S/F Housing RB Series 2025C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4610000 | &nbsp;&nbsp; 4610000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010B <br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  |  |  |  |  | &nbsp;&nbsp; **10765000** |
| **NEVADA 0.0%** | **NEVADA 0.0%** | **NEVADA 0.0%** | **NEVADA 0.0%** | **NEVADA 0.0%** | **NEVADA 0.0%** |
| **Clark Cnty** |  |  |  |  |  |
| Airport System Sub Lien RB Series 2008D2B (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(d)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; **1000000** |
| **NEW HAMPSHIRE 0.0%** | **NEW HAMPSHIRE 0.0%** | **NEW HAMPSHIRE 0.0%** | **NEW HAMPSHIRE 0.0%** | **NEW HAMPSHIRE 0.0%** | **NEW HAMPSHIRE 0.0%** |
| **National Fin Auth Novant Health** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024B (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; **600000** |
| **NEW JERSEY 1.9%** | **NEW JERSEY 1.9%** | **NEW JERSEY 1.9%** | **NEW JERSEY 1.9%** | **NEW JERSEY 1.9%** | **NEW JERSEY 1.9%** |
| **Berkeley Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4005669 |
| **Brick Township** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10067667 |
| **Carteret** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8031645 |

---

*See financial notes*

**66**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Gloucester Cnty Improvement Auth** |  |  |  |  |  |
| Loan RB (Rowan Univ) Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| **Lacey Township** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 3722000 | &nbsp;&nbsp; 3735669 |
| **Monroe Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/29/26 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; 9139342 |
| **Teaneck Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4511049 |
| **Tenafly** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 05/21/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10034353 |
| **Union Cnty** |  |  |  |  |  |
| BAN Series 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7565190 |
| **Woodbridge** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 8175000 | &nbsp;&nbsp; 8197842 |
|  |  |  |  |  | &nbsp;&nbsp; **66088426** |
| **NEW YORK 11.9%** | **NEW YORK 11.9%** | **NEW YORK 11.9%** | **NEW YORK 11.9%** | **NEW YORK 11.9%** | **NEW YORK 11.9%** |
| **Arlington CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10062137 |
| **Brewster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6046121 |
| **Colonie** |  |  |  |  |  |
| BAN 2025B | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 11470580 | &nbsp;&nbsp; 11503615 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5067652 |
| **Fairport CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25009512 |
| **Glen Cove SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 6615000 | &nbsp;&nbsp; 6648442 |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13064095 |
| **Kingston** |  |  |  |  |  |
| BAN Series 2024D | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 11114452 | &nbsp;&nbsp; 11124953 |
| **Lancaster CSD** |  |  |  |  |  |
| Ban 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11054556 |
| **Liverpool CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 14385000 | &nbsp;&nbsp; 14474384 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3805239 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1770000 | &nbsp;&nbsp; 1770000 |
| Transportation Refunding RB Series 2012G4 (**LOC**: BANK OF AMERICA <br> NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| GO Bonds Fiscal 2016 Series C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110153 |
| GO Bonds Fiscal 2017 Series A1 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6200000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| GO Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF MONTREAL) <br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2120000 | &nbsp;&nbsp; 2120000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**67**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2025 Series F  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6011299 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5830000 | &nbsp;&nbsp; 5830000 |
| GO Bonds Fiscal 2025 Series G1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| GO Bonds Fiscal 2025 Series G2 (**LIQ**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4250000 | &nbsp;&nbsp; 4250000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2024 A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3195000 | &nbsp;&nbsp; 3195000 |
| M/F Housing RB Series 2025E  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd General Resolution RB Fiscal 2021 <br> Series AA1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 780000 | &nbsp;&nbsp; 780000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6310000 | &nbsp;&nbsp; 6310000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &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; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2865000 | &nbsp;&nbsp; 2865000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A2 (**LIQ**: UBS AG) <br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9045000 | &nbsp;&nbsp; 9045000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7490000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2360000 | &nbsp;&nbsp; 2360000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 & C1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & 2023F1 <br> & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7585000 | &nbsp;&nbsp; 7585000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| RB (Columbia Univ) Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (New York Univ) Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |

---

*See financial notes*

**68**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Liberty St) Series 2003A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(d)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Housing RB (100 Maiden Lane) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1 | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **New York State Power Auth Green Transmission** |  |  |  |  |  |
| RB Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7635000 | &nbsp;&nbsp; 7635000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10043003 |
| **North Syracuse CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15011088 |
| **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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 26300000 | &nbsp;&nbsp; 26300000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 5019524 |
| **Ramapo Housing Auth** |  |  |  |  |  |
| RB (Fountainview at College Road) Series 1998 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2785000 | &nbsp;&nbsp; 2785000 |
| **Riverhead** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 02/20/26 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5272584 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10007465 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7010072 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1650000 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1050000 |
| Sales Tax RB Series 2023A & 2022A & 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 565000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8017766 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4003869 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5031917 |
|  |  |  |  |  | &nbsp;&nbsp; **420284446** |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**69**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** | **OHIO 2.7%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| Hospital RB (Summa Health) Series 2017A (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Hospital RB (Summa Health) Series 2017B (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 585000 |
| RB (Concordia Lutheran Obligated Group) Series 2013A (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Concordia Lutheran Obligated Group) Series 2018B (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7075000 | &nbsp;&nbsp; 7075000 |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Bon Secours Mercy Health Inc) Series 2025E <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2025C <br> (**LOC**: PNC BANK NA) <br>*(d)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Franklin Cnty** |  |  |  |  |  |
| Hospital Facilities RB (OhioHealth) Series 2015 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7730000 | &nbsp;&nbsp; 7730000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Hospital Facilities RB (TriHealth) Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Ohio** |  |  |  |  |  |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2010000 | &nbsp;&nbsp; 2010000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 2.86% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |
| **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; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
|  |  |  |  |  | &nbsp;&nbsp; **93835000** |
| **OKLAHOMA 0.5%** | **OKLAHOMA 0.5%** | **OKLAHOMA 0.5%** | **OKLAHOMA 0.5%** | **OKLAHOMA 0.5%** | **OKLAHOMA 0.5%** |
| **Oklahoma Turnpike Auth** |  |  |  |  |  |
| 2nd Sr RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| 2nd Sr RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| 2nd Sr RB Series 2025A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6670000 | &nbsp;&nbsp; 6670000 |
| **Oklahoma Water Utilities Trust** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
|  |  |  |  |  | &nbsp;&nbsp; **18670000** |

---

*See financial notes*

**70**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3910000 | &nbsp;&nbsp; 3910000 |
| **Oregon** |  |  |  |  |  |
| GO Refunding Bonds Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175189 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.42% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 15632000 | &nbsp;&nbsp; 15632000 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Oregon Dept of Transportation** |  |  |  |  |  |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Oregon Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp; 3105000 |
|  |  |  |  |  | &nbsp;&nbsp; **38822189** |
| **PENNSYLVANIA 4.4%** | **PENNSYLVANIA 4.4%** | **PENNSYLVANIA 4.4%** | **PENNSYLVANIA 4.4%** | **PENNSYLVANIA 4.4%** | **PENNSYLVANIA 4.4%** |
| **Adams Cnty IDA** |  |  |  |  |  |
| RB (Gettysburg Fdn) Series 2006A (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3675000 | &nbsp;&nbsp; 3675000 |
| **Allegheny Cnty Hospital Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Obligated Group) Series 2016A (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB Series (Concordia Lutheran) 2018A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6370000 | &nbsp;&nbsp; 6370000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10050000 | &nbsp;&nbsp; 10050000 |
| **Butler Cnty Industrial Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2755000 | &nbsp;&nbsp; 2755000 |
| **Chester Cnty Health & Ed** |  |  |  |  |  |
| RB (Tel Hai Retirement Community) Series 2009 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5330000 | &nbsp;&nbsp; 5330000 |
| RB (Tel Hai Retirement Community) Series 2020 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2910000 | &nbsp;&nbsp; 2910000 |
| **Delaware Valley Regional Finance Auth** |  |  |  |  |  |
| Local Gov't RB Series 2020D (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4125000 | &nbsp;&nbsp; 4125000 |
| **Kaiser Permanente** |  |  |  |  |  |
| Health System RB (Geisinger) Series 2020A (**LIQ**: WELLS FARGO BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 29145000 | &nbsp;&nbsp; 29145000 |
| Hospital RB (Lehigh Valley Health Network) Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 630000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**71**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Montgomery Cnty Redevelopment Auth** |  |  |  |  |  |
| M/F Housing RB (Forge Gate Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| **Northampton Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (St Luke's Univ Health) Series 2024B (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2023-142A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| S/F Mortgage RB Series 2023-142A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1880000 | &nbsp;&nbsp; 1880000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8120000 | &nbsp;&nbsp; 8120000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| S/F Mortgage RB Series 2024-146A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp; 2505000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| S/F Mortgage RB Series 2025-148A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4380000 | &nbsp;&nbsp; 4380000 |
| **Pennsylvania State Univ** |  |  |  |  |  |
| RB Series 2025A (**LIQ**: BANK OF AMERICA NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Philadelphia** |  |  |  |  |  |
| CP Series B (**LOC**: ROYAL BANK OF CANADA) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 16470000 | &nbsp;&nbsp; 16470000 |
| **Philadelphia Water & Wastewater** |  |  |  |  |  |
| Water & Wastewater CP Series C (**LOC**: TD BANK NA) | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 10/16/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
|  |  |  |  |  | &nbsp;&nbsp; **155830000** |
| **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 Housing & Mortgage Finance Corp** |  |  |  |  |  |
| Homeownership Opportunity Bonds Series 85A (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp; **2505000** |
| **SOUTH CAROLINA 1.2%** | **SOUTH CAROLINA 1.2%** | **SOUTH CAROLINA 1.2%** | **SOUTH CAROLINA 1.2%** | **SOUTH CAROLINA 1.2%** | **SOUTH CAROLINA 1.2%** |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Gas Supply RB Series 2023B1 <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5295000 | &nbsp;&nbsp; 5295000 |
| Gas Supply RB Series 2023B1&B2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **South Caorlina Public Service Auth** |  |  |  |  |  |
| Sub Revenue CP Series A (**LOC**: BARCLAYS BANK PLC) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 4382000 | &nbsp;&nbsp; 4382000 |
| **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; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8950000 | &nbsp;&nbsp; 8950000 |
| **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; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| **South Carolina Public Service Auth** |  |  |  |  |  |
| Refunding RB Series 2024B & 2025A (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2830000 | &nbsp;&nbsp; 2830000 |
|  |  |  |  |  | &nbsp;&nbsp; **42192000** |
| **TENNESSEE 2.0%** | **TENNESSEE 2.0%** | **TENNESSEE 2.0%** | **TENNESSEE 2.0%** | **TENNESSEE 2.0%** | **TENNESSEE 2.0%** |
| **Blount Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series E6A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 2.15% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1960000 | &nbsp;&nbsp; 1960000 |

---

*See financial notes*

**72**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Chattanooga Health, Educational & Housing Facility Board** |  |  |  |  |  |
| RB (CommonSpirit Health) Series 2019A2 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 470000 |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Johnson City Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital Refunding RB (Ballad Health) Series 2022B (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 24735000 | &nbsp;&nbsp; 24735000 |
| **Memphis** |  |  |  |  |  |
| GO CP Series A (**LIQ**: TD BANK NA) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/03/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| GO CP Series 2024 (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **Tennessee Energy Acquisition Corp** |  |  |  |  |  |
| Commodity Project RB Series 2021A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3610000 | &nbsp;&nbsp; 3610000 |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Bonds Series 2016-2B  | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115000 |
| Residential Finance Program Bonds Series 2025-1A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  |  |  |  |  | &nbsp;&nbsp; **70560000** |
| **TEXAS 21.2%** | **TEXAS 21.2%** | **TEXAS 21.2%** | **TEXAS 21.2%** | **TEXAS 21.2%** | **TEXAS 21.2%** |
| **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; 169271 |
| **Argyle ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150350 |
| **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; 08/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250223 |
| Education RB (KIPP Austin Public Schools) Series 2022 (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100158 |
| 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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9225000 | &nbsp;&nbsp; 9225000 |
| Education RB (Trinity Basin Preparatory Inc) Series 2022 (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125267 |
| 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; 205517 |
| **Austin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4010000 | &nbsp;&nbsp; 4010000 |
| **Bastrop ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**73**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Big Spring ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100230 |
| **Brownsville** |  |  |  |  |  |
| Utilities System CP Series A (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 2.83% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Clifton Higher Ed Finance Corp** |  |  |  |  |  |
| Education RB (International Leadership of Texas) Series 2021 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150134 |
| Education Refunding RB (IDEA Public Schools) Series 2017 (**GTY**: TEXAS <br> PERMANENT SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 365764 |
| **Conroe ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 131583 |
| **Dallas** |  |  |  |  |  |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Waterworks & Sewer CP Notes Series F1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 6150000 | &nbsp;&nbsp; 6150000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 8800000 | &nbsp;&nbsp; 8800000 |
| Sr Sub Lien Sales Tax Revenue CP Series III <br> *(b)* | &nbsp;&nbsp; 3.20% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 01/23/26 | &nbsp;&nbsp; 15200000 | &nbsp;&nbsp; 15200000 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135279 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150296 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |

---

*See financial notes*

**74**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Desoto ISD** |  |  |  |  |  |
| ULT Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>*(e)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 477905 |
| **Dumas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 575372 |
| **Eanes ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150199 |
| **Ennis ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110252 |
| **Fort Bend ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125254 |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170362 |
| ULT GO Refunding Bonds Series 2022A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100222 |
| **Frenship ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5935000 | &nbsp;&nbsp; 5935000 |
| **Frisco ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 551131 |
| **Georgetown ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120245 |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp; 1840000 |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 6260000 | &nbsp;&nbsp; 6260000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.24% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **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; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8220000 | &nbsp;&nbsp; 8220000 |
| Refunding RB (Methodist Hospital) Series 2009C1  | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 54000000 | &nbsp;&nbsp; 54000000 |
| Refunding RB (Methodist Hospital) Series 2009C2  | &nbsp;&nbsp; 3.97% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2021 (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8760000 | &nbsp;&nbsp; 8760000 |
| 1st Lien Revenue CP Series K (**LIQ**: TRUIST BANK)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 6333000 | &nbsp;&nbsp; 6333000 |
| **Houston Combined Utility System** |  |  |  |  |  |
| Jr Lien Refunding RB Series 2001B (**ESCROW**) (**LIQ**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**75**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Laredo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 370524 |
| **Lewisville ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115236 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150305 |
| **Lower Colorado River Auth** |  |  |  |  |  |
| Refunding RB (LCRA Transmission Services) Series 2023 (**LOC**: ROYAL <br> BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6265000 | &nbsp;&nbsp; 6265000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001A<br> *(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 855000 |
| **Mercedes ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100164 |
| **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; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2930000 | &nbsp;&nbsp; 2930000 |
| **Nederland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120248 |
| **North East ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125200 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System RB Extendable CP<br> *(b)* | &nbsp;&nbsp; 3.17% | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 01/27/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Northside ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200280 |
| ULT GO Refunding Bonds Series 2023A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180356 |
| **Northwest ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JP MORGAN SECURITIES LLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp; 1780000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12185000 | &nbsp;&nbsp; 12185000 |
| **Plains ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 576276 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31315000 | &nbsp;&nbsp; 31315000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3380000 | &nbsp;&nbsp; 3380000 |

---

*See financial notes*

**76**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Antonio** |  |  |  |  |  |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Water System Jr Lien Refunding RB Series 2023A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| **San Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas System Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.93% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| **San Antonio Water System** |  |  |  |  |  |
| Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5050000 |
| **Sinton ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 164951 |
| **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; 99004 |
| **Spring ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375758 |
| **Sweetwater ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2025 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 651512 |
| 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; 151785 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2745000 | &nbsp;&nbsp; 2745000 |
| RB (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3425000 | &nbsp;&nbsp; 3425000 |
| RB (Christus Health) Series 2022A, 2018B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Refunding RB (Christus Health) Series 2008C2 (**LOC**: BANK OF NEW <br> YORK MELLON/THE) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**77**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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** |  |  |  |  |  |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3050000 | &nbsp;&nbsp; 3050000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5670000 | &nbsp;&nbsp; 5670000 |
| GO Bonds Series 2014D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3885000 | &nbsp;&nbsp; 3885000 |
| GO Bonds Series 2015D  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 198800 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9165000 | &nbsp;&nbsp; 9165000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 2.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5855000 | &nbsp;&nbsp; 5855000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19800000 | &nbsp;&nbsp; 19800000 |
| Veterans Bonds Series 2019 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(d)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3310000 | &nbsp;&nbsp; 3310000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7985000 | &nbsp;&nbsp; 7985000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(d)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Veterans Bonds Series 2025B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Water Refunding GO Bonds Series 2023B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150236 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 07/22/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Series B  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 17671000 | &nbsp;&nbsp; 17671000 |
| CP Series B  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 15195000 | &nbsp;&nbsp; 15195000 |
| **Texas Municipal Gas Acquisition & Supply Corp IV** |  |  |  |  |  |
| Gas Supply RB Series 2023A (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4360000 | &nbsp;&nbsp; 4360000 |
| **Texas Public Finance Auth** |  |  |  |  |  |
| CP Series 2019A | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Texas Transportation Commission** |  |  |  |  |  |
| State Highway Fund 1st Tier RB Series 2016A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 3765000 | &nbsp;&nbsp; 3783576 |
| **Texas Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| State Water Implementation Fund RB Series 2022 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1360000 | &nbsp;&nbsp; 1360000 |
| **Texas Water Development Board Implementation Fund** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2020 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/26 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp; 1403595 |
| **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; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.84% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |

---

*See financial notes*

**78**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| CP Notes Series A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 11/20/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Revenue Financing Bonds Series 2016E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275552 |
| Revenue Financing Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp; 771551 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 14204000 | &nbsp;&nbsp; 14204000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.54% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 12200000 | &nbsp;&nbsp; 12200000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series C1  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 3286000 | &nbsp;&nbsp; 3286000 |
| Univ Fund Bonds Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| **Wimberley Texas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135120 |
| **Wylie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4030000 | &nbsp;&nbsp; 4030000 |
| **Ysleta ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6335000 | &nbsp;&nbsp; 6335000 |
|  |  |  |  |  | &nbsp;&nbsp; **750459043** |
| **UTAH 0.0%** | **UTAH 0.0%** | **UTAH 0.0%** | **UTAH 0.0%** | **UTAH 0.0%** | **UTAH 0.0%** |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 820000 | &nbsp;&nbsp; **820000** |
| **VIRGINIA 1.8%** | **VIRGINIA 1.8%** | **VIRGINIA 1.8%** | **VIRGINIA 1.8%** | **VIRGINIA 1.8%** | **VIRGINIA 1.8%** |
| **Albemarle Cnty Economic Development Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Sentara Health) Series 2018A (**LIQ**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Hospital Facilities Refunding RB (Sentara Martha Jefferson) <br> Series 2018B (**LIQ**: TD BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7915000 | &nbsp;&nbsp; 7915000 |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Helath Care RB (Inova Health) Series 2014A (**LOC**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29850000 | &nbsp;&nbsp; 29850000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**79**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Lynchburg Economic Development Auth** |  |  |  |  |  |
| Hospital Refunding RB (Centra Health) Series 2017B (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Hospital Facilities RB (Sentara Health) Series 2016A <br> *(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1750000 |
| **Virginia Commonwealth Univ Health System Auth** |  |  |  |  |  |
| Refunding RB Series 2024B (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
|  |  |  |  |  | &nbsp;&nbsp; **62115000** |
| **WASHINGTON 3.0%** | **WASHINGTON 3.0%** | **WASHINGTON 3.0%** | **WASHINGTON 3.0%** | **WASHINGTON 3.0%** | **WASHINGTON 3.0%** |
| **Auburn SD #408** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1020000 | &nbsp;&nbsp; 1028269 |
| **Deer Park Consolidated SD #414-200-61** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2012 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 298198 |
| **King Cnty Sewer System** |  |  |  |  |  |
| LT GO CP Series A | &nbsp;&nbsp; 2.99% |  | &nbsp;&nbsp; 09/08/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| **Northshore SD #417** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 998725 |
| **Pierce Cnty Economic Development Corp** |  |  |  |  |  |
| IDRB (Frederico Enterprises I) Series 2010 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1560000 | &nbsp;&nbsp; 1560000 |
| **Snoqualmie Valley SD #410** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2025 (**GTY**: WASHINGTON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 1430000 | &nbsp;&nbsp; 1441710 |
| **Washington** |  |  |  |  |  |
| COP Series 20216A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 330000 |
| COP Series 2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/01/26 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100969 |
| GO Bonds Series 2016A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1915000 | &nbsp;&nbsp; 1917799 |
| GO Bonds Series 2018A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 3115000 | &nbsp;&nbsp; 3119552 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| GO Bonds Series 2024C (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| GO Bonds Series 2025C (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| GO Refunding Bonds R2025B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp; 9300000 |
| GO Refunding Bonds Series R2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Go Refunding Bonds Series R2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100108 |
| GO Refunding Bonds Series R2018C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8412291 |
| GO Refunding Bonds Series R2018D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100147 |
| GO Refunding Bonds Series R2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280000 |
| GO Refunding Bonds Series R2022C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5205000 | &nbsp;&nbsp; 5205000 |
| Motor Vehicle Fuel Tax GO Bonds Series 2007E <br> *(e)* | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 128365 |
| Motor Vehicle Fuel Tax GO Bonds Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 290430 |
| Motor Vehicle Fuel Tax GO Bonds Series 2025D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1324080 |

---

*See financial notes*

**80**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Motor Vehicle Fuel Tax GO Bonds Series 2025D (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 2.04% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 8965000 | &nbsp;&nbsp; 8965000 |
| Motor Vehicle Fuel Tax Go Refunding Bonds Series R2020D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2022D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2105000 | &nbsp;&nbsp; 2105000 |
| Motor Vehicle Fule Tax GO Refunding Bonds Series R2023B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| **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; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5510000 | &nbsp;&nbsp; 5510000 |
| **Washington State Housing Finance Commission** |  |  |  |  |  |
| M/F Housing RB (Redmond Ridge Apts) Series 2017 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23300000 | &nbsp;&nbsp; 23300000 |
|  |  |  |  |  | &nbsp;&nbsp; **105830643** |
| **WISCONSIN 1.3%** | **WISCONSIN 1.3%** | **WISCONSIN 1.3%** | **WISCONSIN 1.3%** | **WISCONSIN 1.3%** | **WISCONSIN 1.3%** |
| **Appleton** |  |  |  |  |  |
| Recovery Zone Facility Bonds (Foremost Farms) Series 2010 (**LOC**: BMO <br> BANK NA)<br>*(d)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Wisconsin Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Advocate Aurora Health) Series 2018B4 (**LIQ**: JP MORGAN <br> SECURITIES LLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| RB (Bellin Memorial Hospital) Series 2022B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1450000 |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023B (**LOC**: TD BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4525000 | &nbsp;&nbsp; 4525000 |
| Hospital RB (Lee Health System) Series 2024A (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
|  |  |  |  |  | &nbsp;&nbsp; **46240000** |
| **MULTIPLE STATES 6.1%** | **MULTIPLE STATES 6.1%** | **MULTIPLE STATES 6.1%** | **MULTIPLE STATES 6.1%** | **MULTIPLE STATES 6.1%** | **MULTIPLE STATES 6.1%** |
| **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; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 55300000 | &nbsp;&nbsp; 55300000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 51800000 | &nbsp;&nbsp; 51800000 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**81**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; 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 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(d)* | &nbsp;&nbsp; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 35700000 | &nbsp;&nbsp; 35700000 |
| Variable Rate Demand Preferred Shares Series A (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(d)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12400000 |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 55500000 | &nbsp;&nbsp; 55500000 |
|  |  |  |  |  | &nbsp;&nbsp; **217700000** |
| **Total Municipal Securities** <br>**(Cost $3,542,926,836)** | **Total Municipal Securities** <br>**(Cost $3,542,926,836)** | **Total Municipal Securities** <br>**(Cost $3,542,926,836)** | **Total Municipal Securities** <br>**(Cost $3,542,926,836)** | **Total Municipal Securities** <br>**(Cost $3,542,926,836)** | &nbsp;&nbsp; **3542926836** |
| **Total Investments in Securities** <br>**(Cost $3,542,926,836)** | **Total Investments in Securities** <br>**(Cost $3,542,926,836)** | **Total Investments in Securities** <br>**(Cost $3,542,926,836)** | **Total Investments in Securities** <br>**(Cost $3,542,926,836)** | **Total Investments in Securities** <br>**(Cost $3,542,926,836)** | &nbsp;&nbsp; **3542926836** |

---

&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 $1,479,280,000 or 41.8% 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)* 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;

---

| | |
|:---|:---|
| 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>|
| TOB — | Tender option bond |
| UFSD — | Union free school district |
| ULT — | Unlimited tax |
| VRDN — | Variable rate demand note |

---

------

At June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**82**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $3542926836 |
| Cash |  | 30310 |
| Receivables: |  |  |
| Investments sold |  | 114682719 |
| Interest |  | 19646893 |
| Fund shares sold |  | 15101911 |
| Prepaid expenses | + | 159920 |
| **Total assets** |  | **3692548589** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 147104389 |
| Distributions to shareholders |  | 1963143 |
| Investment adviser and administrator fees |  | 489532 |
| Investments bought |  | 100000 |
| Shareholder service fees |  | 25161 |
| Accrued expenses | + | 46952 |
| **Total liabilities** |  | **149729177** |
| **Net assets** |  | **$3542819412** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $3542806825 |
| Total distributable earnings | + | 12587 |
| **Net assets** |  | **$3542819412** |

---

&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 | $1230475565 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1230282792 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $2312343847 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2311925970 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**83**

------

Schwab AMT Tax-Free Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$50080430** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 3385624 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 899849 |
| Registration fees |  | 156619 |
| Portfolio accounting fees |  | 64471 |
| Independent trustees' fees |  | 24898 |
| Professional fees |  | 17577 |
| Custodian fees |  | 17267 |
| Shareholder reports |  | 4106 |
| Transfer agent fees  |  | 624 |
| Other expenses | + | 11388 |
| **Total expenses** |  | **4582423** |
| Expense reduction | – | 296017 |
| **Net expenses** | – | **4286406** |
| **Net investment income** |  | **45794024** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **12587** |
| **Increase in net assets resulting from operations** |  | **$45806611** |

---

*See financial notes*

**84**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $45794024 | &nbsp;&nbsp;&nbsp; $101466836 |
| Net realized gains | + | 12587 | &nbsp;&nbsp;&nbsp; 115837 |
| **Increase in net assets from operations** |  | **$45806611** | &nbsp;&nbsp;&nbsp; **$101582673** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($14849706)<br>| &nbsp;&nbsp;&nbsp; ($34402968)<br>|
| Ultra Shares | + | (30944318)<br>| &nbsp;&nbsp;&nbsp; (67156131)<br>|
| **Total distributions** |  | **($45794024)**<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 |  | 684086270 | &nbsp;&nbsp;&nbsp; 1398069426 |
| Ultra Shares | + | 2520221252 | &nbsp;&nbsp;&nbsp; 5382878727 |
| **Total shares sold** |  | **3204307522** | &nbsp;&nbsp;&nbsp; **6780948153** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 11056324 | &nbsp;&nbsp;&nbsp; 25402526 |
| Ultra Shares | + | 20687718 | &nbsp;&nbsp;&nbsp; 45304477 |
| **Total shares reinvested** |  | **31744042** | &nbsp;&nbsp;&nbsp; **70707003** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (699035139)<br>| &nbsp;&nbsp;&nbsp; (1264143852)<br>|
| Ultra Shares | + | (2993136377)<br>| &nbsp;&nbsp;&nbsp; (4729037699)<br>|
| **Total shares redeemed** |  | **(3692171516)**<br>| &nbsp;&nbsp;&nbsp; **(5993181551)**<br>|
| **Net transactions in fund shares** |  | **(456119952)**<br>| &nbsp;&nbsp;&nbsp; **858473605** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $3998926777 | &nbsp;&nbsp;&nbsp; $3140429598 |
| Total increase (decrease) | + | (456107365)<br>| &nbsp;&nbsp;&nbsp; 858497179 |
| **End of period** |  | **$3542819412** | &nbsp;&nbsp;&nbsp; **$3998926777** |

---

&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 Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**85**

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited

------

&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 Prime Advantage Money Fund |
| **Schwab AMT Tax-Free Money Fund** | Schwab Retirement Government Money Fund |
| Schwab Government Money Fund | Schwab California Municipal Money Fund |
| Schwab U.S. Treasury Money Fund | Schwab New York Municipal Money Fund |
| Schwab Treasury Obligations 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 (NAV), 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 (the Board) 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 "Fund 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.

------

**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 has designated authority to a Valuation Designee, the funds' investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities 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.

**86**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited (continued)

------

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

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

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 (ETFs) and futures contracts. Mutual funds and ETFs are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2 or Level 3 in the fair value hierarchy.

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

As disclosed in the Portfolio Holdings, as of June 30, 2025, each of the fund's investments were classified as Level 2.

**(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 fund's 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 of the funds comply 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 fund.

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**87**

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited (continued)

------

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

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

**(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 trusts generally are allocated among those funds in proportion to their average daily net assets.

For funds offering 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:**

The funds declare distributions from net investment income, if any, every day they are 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 of the fund's financial statements.

**88**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited (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.

**(k) Recent Accounting Pronouncements:**

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and with early adoption permitted. At this time, management is evaluating the impact of this amendment but believes it will not have a material impact on the financial statements and income tax disclosures.

------

**3. Credit and Liquidity Enhancements:**

A substantial portion of each 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 provide liquidity for 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>|
| % of total assets in securities with credit enhancements or liquidity <br> enhancements<br>| 70<br> %<br>| &nbsp;&nbsp; 67<br> %<br>|
| % of total assets in securities with credit enhancements or liquidity <br> enhancements 10% or greater from a single institution<br>| - %<br>| &nbsp;&nbsp; 11 %<br>|
|  |  | (JPMorgan Chase Bank 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 an 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 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.

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**89**

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited (continued)

------

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

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

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 the fund shares owned by shareholders holding shares through such service providers.

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 |

---

**Contractual Expense Limitation**

The investment adviser and its affiliates have made an additional agreement with each fund, 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, to limit the total annual fund operating expenses charged, excluding interest, taxes, and certain non-routine expenses (expense limitation) as follows:

---

| | | |
|:---|:---|:---|
|  | SCHWAB<br> MUNICIPAL<br> MONEY FUND<br>| SCHWAB AMT<br> TAX-FREE<br> MONEY FUND<br>|
| Investor Shares | 0.34<br> %<br>| 0.34<br> %<br>|
| Ultra Shares | 0.19<br> %<br>| 0.19<br> %<br>|

---

**Interfund Transactions**

The funds may engage in direct transactions with certain other funds in the Fund Complex in accordance with procedures adopted by the Board 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 are recorded in Net realized gains (losses) on sales of securities — unaffiliated issuers in the Statement of Operations. For the period ended June 30, 2025, each fund's purchases and sales of securities with other funds in the Fund 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; $199292195 | &nbsp;&nbsp; $0 |
| Schwab AMT Tax-Free Money Fund | 22722012 | &nbsp;&nbsp; 3708992 | &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 Fund 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. The funds had no interfund borrowing or lending activity during the period.

------

**5. Board of Trustees:**

The Board 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.

**90**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Financial Notes, unaudited (continued)

------

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

**6. Borrowing from Banks:**

During the period, the funds were participants with other funds in the Fund Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), maturing on September 25, 2025. 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 Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, maturing on September 25, 2025. 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 June 30, 2025, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab Municipal Money Fund | $17123310948 |
| Schwab AMT Tax-Free Money Fund | 3542926836 |

---

As of December 31, 2024, 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 and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2025. The tax basis components of distributions paid during the fiscal year ended December 31, 2024 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | 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>|
| Schwab Municipal Money Fund | $510676608 | &nbsp;&nbsp; $635579 | &nbsp;&nbsp; $74163 |
| Schwab AMT Tax-Free Money Fund | 101458179 | &nbsp;&nbsp; 80025 | &nbsp;&nbsp; 20895 |

---

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.

As of December 31, 2024, 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. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in each fund's Statement of Operations. During the fiscal year ended December 31, 2024, 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.

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**91**

------

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

------

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

Not applicable.

**92**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual 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 Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**93**

------

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).

**94**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

Investment Advisory Agreement Approval

------

The Investment Company Act of 1940, as amended (the 1940 Act), requires that the continuation of a fund's investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or "interested persons" of any party thereto (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund's trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory and administration agreement (the Agreement) between The Charles Schwab Family of Funds (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab Municipal Money Fund and Schwab AMT Tax-Free Money Fund (the Funds), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser's affiliates, personnel, business goals and priorities, profitability, oversight of third-party service providers, corporate structure and operations. As part of the renewal process, the Independent Trustees' legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to the Funds' operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees' legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and answer sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.

The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance of the Agreement with respect to the Funds at meetings held on May 7, 2025 and June 5, 2025, and approved the renewal of the Agreement with respect to the Funds for an additional one-year term at the meeting on June 5, 2025 called for the purpose of voting on such approval.

The Board's approval of the continuance of the Agreement with respect to the Funds was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:

1. the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds;

2. each Fund's investment performance and how it compared to that of certain other comparable mutual funds and benchmark data;

3. each Fund's expenses and how those expenses compared to those of certain other similar mutual funds;

4. the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and

5. the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, the investment adviser's experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Funds' portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, and vendor and risk oversight. The Trustees also considered the investment adviser's continued investment in its infrastructure, including the investment adviser's technology and use of data, business continuity, cybersecurity, due diligence, risk management processes, and information security programs. The Trustees considered Schwab's overall financial condition and reputation as a full service brokerage firm, as well as the wide range of products, services, and

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**95**

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

account features that benefit Fund shareholders who are brokerage clients of Schwab. Following such evaluation, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds supported renewal of the Agreement with respect to the Funds.

**Fund Performance.** The Board considered each Fund's performance in determining whether to renew the Agreement with respect to such Fund. Specifically, the Trustees considered each Fund's performance relative to a peer category of other mutual funds and applicable indices/benchmarks, in light of portfolio yield and the market environment, as well as in consideration of each Fund's investment style and strategy. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of each Fund, the Trustees considered the risk profile for such Fund and such Fund's operation as a money market fund within the meaning of Rule 2a-7 under the 1940 Act. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser's profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Following such evaluation, the Board concluded, within the context of its full deliberations, that the performance of such Fund supported renewal of the Agreement with respect to such Fund.

**Fund Expenses.** With respect to each Fund's expenses, the Trustees considered the rate of compensation called for by the Agreement and each Fund's net operating expense ratio, in each case, in comparison to those of other similar mutual funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Funds and provision of services as well as the competitive marketplace for financial products. The Trustees considered the effects of the investment adviser and its affiliates practice of waiving certain fees to prevent total annual operating expenses of the Funds from exceeding a specified cap. The Trustee's also considered the investment adviser's contractual commitment to limit the total annual operating expenses of the Funds for so long as the investment adviser serves as the adviser of the Funds, as well as historically using voluntary waivers (which the investment adviser will not recoup) to maintain a certain yield. The Trustees also considered fees charged by the investment adviser to other mutual funds that it manages. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of such Fund are reasonable and supported renewal of the Agreement with respect to such Fund.

**Profitability.** The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. The Trustees reviewed profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund shareholders of being part of the Schwab fund complex, including the allocations of certain costs across the Funds and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Funds, such as whether, by virtue of its management of the Funds, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Funds under the Agreement and other service agreements were reasonable in light of the quality of all services rendered to the Funds by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Funds. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to such Fund.

**Economies of Scale.** Although the Trustees recognized the difficulty of determining economies of scale with precision, the Trustees considered the potential existence of any economies of scale and whether those are passed along to a Fund's shareholders through (i) the enhancement of services provided to the Funds in return for fees paid, including through the investment adviser's continued investment in its infrastructure and use of data and technology, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Funds and their shareholders; (ii) fee waivers or expense caps by the investment adviser and its affiliates for those fund in the Schwab fund complex with such features; and (iii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees considered that the investment adviser and its affiliates may employ contractual expense caps to protect shareholders from higher fees when fund assets are relatively small, for example, in the case of newer funds or funds with investment strategies that are from time to time out of favor, because, among other reasons, shareholders may benefit from the continued availability of such funds at subsidized expense levels. Based on this evaluation, the Board concluded, within the context of its full deliberations, that each Fund obtains reasonable benefits from economies of scale.

\* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*

In the course of their deliberations, the Trustees may have accorded different weights to various factors and did not identify any particular information or factor that was all important or controlling. Based on the Trustees' deliberation

**96**Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund

and their evaluation of the information described above, the Board, including all of the Independent Trustees, approved the continuation of the Agreement with respect to the Funds and concluded that the compensation under the Agreement with respect to the Funds is fair and reasonable in light of the

services provided and the related expenses borne by the investment adviser and its affiliates and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

Schwab Municipal Money Fund & Schwab AMT Tax-Free Money Fund \| Semiannual Holdings and Financial Statements

**97**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g56984img7c2406021.jpg)

MFR25720-23

00315737

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g20942imge3608d351.jpg)

**Semiannual Holdings and Financial Statements** \| June 30, 2025

Schwab Municipal Money Funds

------

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_80f0885e-d7c4-45f9-8590-ad025f3b5199_1)**<br> **[Management Investment Companies](#xx_80f0885e-d7c4-45f9-8590-ad025f3b5199_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_80f0885e-d7c4-45f9-8590-ad025f3b5199_1) <br>|  |
| [Schwab California Municipal Money Fund](#xx_80f0885e-d7c4-45f9-8590-ad025f3b5199_1) | 2 |
| [Schwab New York Municipal Money Fund](#xx_b24e9005-d4ed-40b5-bce8-9368b19ddf2a_1) | 23 |
| [Financial Notes](#xx_b487016d-8405-4544-ab84-c5a345a2bdfc_1) | 42 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_e649aad7-5bab-40a8-8a0c-f41d11f7b44f_1)**<br> **[Management Investment Companies](#xx_e649aad7-5bab-40a8-8a0c-f41d11f7b44f_1)**<br>| 48 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_906be182-c1ca-403f-8f59-047675c2611a_1)**<br> **[Companies](#xx_906be182-c1ca-403f-8f59-047675c2611a_1)**<br>| 49 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_d719d91e-a826-45c7-baf8-dc71727a01b1_1)**<br> **[Management Investment Companies](#xx_d719d91e-a826-45c7-baf8-dc71727a01b1_1)**<br>| 50 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_e8e8d4d4-6572-4b38-94d8-7a8fc66c59eb_1)**<br> **[Contract](#xx_e8e8d4d4-6572-4b38-94d8-7a8fc66c59eb_1)** <br>|  |
| [Investment Advisory Agreement Approval](#xx_e8e8d4d4-6572-4b38-94d8-7a8fc66c59eb_1) | 51  |

---

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

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

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**1**

------

Schwab California Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Net realized and unrealized gains (losses) | &nbsp;&nbsp; (0.00 )<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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &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; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.07 %<sup>3</sup><br>| 2.78<br> %<br>| 2.58<br> %<br>| 0.87<br> %<br>| 0.03<br> %<br>| 0.32<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>5,6</sup><br>| 0.10 %<sup>6</sup><br>| 0.28 %<sup>6,7</sup><br>|
| Total expenses | 0.35 %<sup>4</sup><br>| 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>5</sup><br>| 0.35<br> %<br>| 0.46<br> %<br>|
| Net investment income (loss) | 2.13 %<sup>4</sup><br>| 2.74<br> %<br>| 2.53<br> %<br>| 0.92<br> %<br>| 0.01<br> %<br>| 0.37<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2610 | &nbsp;&nbsp; $2605 | &nbsp;&nbsp; $2483 | &nbsp;&nbsp; $2604 | &nbsp;&nbsp; $2224 | &nbsp;&nbsp; $3405 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

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

------

Schwab California Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.14 %<sup>4</sup><br>| 2.93<br> %<br>| 2.73<br> %<br>| 0.99<br> %<br>| 0.03<br> %<br>| 0.01 %<sup>4</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>6,7</sup><br>| 0.09 %<sup>7</sup><br>| 0.16 %<sup>5,7</sup><br>|
| Total expenses | 0.20 %<sup>5</sup><br>| 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>6</sup><br>| 0.20<br> %<br>| 0.20 %<sup>5</sup><br>|
| Net investment income (loss) | 2.28 %<sup>5</sup><br>| 2.89<br> %<br>| 2.68<br> %<br>| 1.45<br> %<br>| 0.01<br> %<br>| 0.01 %<sup>5</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $6469 | &nbsp;&nbsp; $6426 | &nbsp;&nbsp; $5562 | &nbsp;&nbsp; $5456 | &nbsp;&nbsp; $778 | &nbsp;&nbsp; $375 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</sup> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**3**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 102.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 102.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 102.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 102.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 102.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 102.8% OF NET ASSETS |
| **ARIZONA 0.1%** | **ARIZONA 0.1%** | **ARIZONA 0.1%** | **ARIZONA 0.1%** | **ARIZONA 0.1%** | **ARIZONA 0.1%** |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| Hospital Refunding RB (HonorHealth) Series 2024B (**LOC**: JPMORGAN <br> CHASE BANK NA)<br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8305000 | &nbsp;&nbsp; **8305000** |
| **CALIFORNIA 100.7%** | **CALIFORNIA 100.7%** | **CALIFORNIA 100.7%** | **CALIFORNIA 100.7%** | **CALIFORNIA 100.7%** | **CALIFORNIA 100.7%** |
| **ABAG Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Crossing Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.47% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 53350000 | &nbsp;&nbsp; 53350000 |
| M/F Housing RB (La Terrazza Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 0.87% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.40% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9200000 | &nbsp;&nbsp; 9200000 |
| RB (Pathways Home & Health Hospice) Series 2004 (**LOC**: US BANK <br> NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1530000 | &nbsp;&nbsp; 1530000 |
| **Alameda Cnty IDA** |  |  |  |  |  |
| RB (Segale Brothers Wood Products) Series 2002 (**LOC**: BANK OF <br> MONTREAL)<br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 330000 |
| **Anaheim Housing Auth** |  |  |  |  |  |
| M/F Housing Refunding RB (Sage Park) Series 1998A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2007B2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 63125000 | &nbsp;&nbsp; 63125000 |
| Toll Bridge RB Series 2007G1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 0.65% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Toll Bridge RB Series 2008E1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Toll Bridge RB Series 2023A (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9955000 | &nbsp;&nbsp; 9955000 |
| Toll Bridge RB Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10695000 | &nbsp;&nbsp; 10695000 |
| Toll Bridge RB Series 2024A (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 81200000 | &nbsp;&nbsp; 81200000 |
| Toll Bridge RB Series 2024B (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22890000 | &nbsp;&nbsp; 22890000 |
| Toll Bridge RB Series 2024C (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 54400000 | &nbsp;&nbsp; 54400000 |
| Toll Bridge RB Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 151305000 | &nbsp;&nbsp; 151305000 |
| Toll Bridge RB Series 2024E (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10700000 | &nbsp;&nbsp; 10700000 |
| Toll Bridge RB Series 2024G (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Toll Bridge RB Series 2024H (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14300000 | &nbsp;&nbsp; 14300000 |
| Toll Bridge RB Series 2024I (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 43050000 | &nbsp;&nbsp; 43050000 |

---

*See financial notes*

**4**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Blackrock California Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 231500000 | &nbsp;&nbsp; 231500000 |
| **California** |  |  |  |  |  |
| GO Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 451683 |
| GO Bonds (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11870000 | &nbsp;&nbsp; 11870000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 57725000 | &nbsp;&nbsp; 57725000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8390000 | &nbsp;&nbsp; 8390000 |
| GO Bonds (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2625000 |
| GO Bonds (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.02% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 5075000 | &nbsp;&nbsp; 5075000 |
| GO Bonds (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| GO Bonds (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| GO Bonds (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp; 2375000 |
| GO Bonds Series 2003A1 (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3695000 | &nbsp;&nbsp; 3695000 |
| GO Bonds Series 2003C1 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 42480000 | &nbsp;&nbsp; 42480000 |
| GO Bonds Series 2004A2 (**LOC**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9965000 | &nbsp;&nbsp; 9965000 |
| GO Bonds Series 2004A3 (**LOC**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 1.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp; 5750000 |
| GO Bonds Series 2004A9 (**LOC**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10395000 | &nbsp;&nbsp; 10395000 |
| GO Bonds Series 2005A21 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15800000 | &nbsp;&nbsp; 15800000 |
| GO Bonds Series 2005B1 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 101610000 | &nbsp;&nbsp; 101610000 |
| GO Bonds Series 2005B3 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13800000 | &nbsp;&nbsp; 13800000 |
| GO Bonds Series 2024A2 (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18800000 | &nbsp;&nbsp; 18800000 |
| GO Bonds Series 2024B1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| GO Bonds Series 2024B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 62000000 |
| GO Bonds Series 2024C1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds Series 2024D (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 72475000 | &nbsp;&nbsp; 72475000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 16580000 | &nbsp;&nbsp; 16580000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 4540000 | &nbsp;&nbsp; 4540000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 08/21/25 | &nbsp;&nbsp; 28460000 | &nbsp;&nbsp; 28460000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 13475000 | &nbsp;&nbsp; 13475000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 14935000 | &nbsp;&nbsp; 14935000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.62% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36510000 | &nbsp;&nbsp; 36510000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 15285000 | &nbsp;&nbsp; 15285000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 6785000 | &nbsp;&nbsp; 6785000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 23985000 | &nbsp;&nbsp; 23985000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 6248000 | &nbsp;&nbsp; 6248000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 11819000 | &nbsp;&nbsp; 11819000 |
| GO CP Series A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.87% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 41970000 | &nbsp;&nbsp; 41970000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**5**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 CP Series A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 21012000 | &nbsp;&nbsp; 21012000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 20500000 | &nbsp;&nbsp; 20500000 |
| GO Refunding Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 34210000 | &nbsp;&nbsp; 34269913 |
| GO Refunding Bonds  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275388 |
| GO Refunding Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 40925000 | &nbsp;&nbsp; 41075266 |
| GO Refunding Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2014760 |
| GO Refunding Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/01/26 | &nbsp;&nbsp; 43000000 | &nbsp;&nbsp; 43643337 |
| GO Refunding Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 29625000 | &nbsp;&nbsp; 29625000 |
| GO Refunding Bonds (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1705000 | &nbsp;&nbsp; 1705000 |
| Lease RB Series 2021B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **California Community Choice Financing Auth** |  |  |  |  |  |
| Clean Energy RB Series 2021B1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9920000 | &nbsp;&nbsp; 9920000 |
| Clean Energy RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Clean Energy RB Series 2023E1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1410000 | &nbsp;&nbsp; 1410000 |
| Clean Energy RB Series 2023F (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3725000 | &nbsp;&nbsp; 3725000 |
| **California Dept of Water Resources** |  |  |  |  |  |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.83% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 3467000 | &nbsp;&nbsp; 3467000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 32785000 | &nbsp;&nbsp; 32785000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.81% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 13613000 | &nbsp;&nbsp; 13613000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.77% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 21419000 | &nbsp;&nbsp; 21419000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 14588000 | &nbsp;&nbsp; 14588000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 13607000 | &nbsp;&nbsp; 13607000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 9377000 | &nbsp;&nbsp; 9377000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 20640000 | &nbsp;&nbsp; 20640000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 19139000 | &nbsp;&nbsp; 19139000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/16/25 | &nbsp;&nbsp; 14654000 | &nbsp;&nbsp; 14654000 |
| **California Educational Facilities Auth** |  |  |  |  |  |
| CP Notes (Stanford Univ) Series S1  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP Notes (Stanford Univ) Series S3  | &nbsp;&nbsp; 2.83% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| CP Notes (Stanford Univ) Series S4  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| CP Notes (Stanford Univ) Series S4  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (California Institute of Technology) Series 2006A <br> *(a)* | &nbsp;&nbsp; 0.77% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 34115000 | &nbsp;&nbsp; 34115000 |
| RB (California Institute of Technology) Series 2006B <br> *(a)* | &nbsp;&nbsp; 0.79% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 40675000 | &nbsp;&nbsp; 40675000 |
| RB (Stanford Univ) Series U6 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 53785000 | &nbsp;&nbsp; 53785000 |
| RB (Stanford Univ) Series V1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7160000 | &nbsp;&nbsp; 7160000 |
| **California Enterprise Development Finance Auth** |  |  |  |  |  |
| IDRB (Gordon Brush) Series 2015 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| IDRB (J Harris Industrial Water Treatment) Series 2015 (**LOC**: CITY <br> NATIONAL BANK) <br>*(a)(b)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4910000 | &nbsp;&nbsp; 4910000 |
| RB (EDCO Disposal Corp) Series 2024 (**LOC**: WELLS FARGO BANK NA) <br> *(a)(b)* | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 28585000 | &nbsp;&nbsp; 28585000 |
| RB (EDCO Refuse Services) Series 2025 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 68000000 | &nbsp;&nbsp; 68000000 |

---

*See financial notes*

**6**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| Health Facility RB (Catholic Healthcare West) Series 2011B <br> (**LOC**: BANK OF MONTREAL) <br>*(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 74250000 | &nbsp;&nbsp; 74250000 |
| RB (Cedars-Sinai Health System) Series 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| RB (Cedars-Sinai Health) Series 2021A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5195000 | &nbsp;&nbsp; 5195000 |
| RB (Cedars-Sinai) Series 2021A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp; 3105000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 34014000 | &nbsp;&nbsp; 34014000 |
| RB (El Camino Health) Series 2025B (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 37040000 | &nbsp;&nbsp; 37040000 |
| RB (El Camino Health) Series 2025C (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26300000 | &nbsp;&nbsp; 26300000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.87% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 43320000 | &nbsp;&nbsp; 43320000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 4325000 | &nbsp;&nbsp; 4325000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 15525000 | &nbsp;&nbsp; 15525000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.91% |  | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| RB (Scripps Health) Series 2024C1 <br> *(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 39200000 | &nbsp;&nbsp; 39200000 |
| RB (Scripps Health) Series 2024C2 <br> *(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 90800000 | &nbsp;&nbsp; 90800000 |
| Refunding RB (Stanford Health Care) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502591 |
| Refunding RB (Stanford Hospital) Series 2008B1 <br> *(a)* | &nbsp;&nbsp; 0.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Refunding RB (Sutter Health) Series 2017A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Refunding RB CP Notes (Stanford Hospital) Series 2008B2-2  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/19/25 | &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; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| IDRB (Kruger & Sons) Series 2002 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 1.83% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 720000 |
| RB (St Margaret's Episcopal School) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7305000 | &nbsp;&nbsp; 7305000 |
| RB (UCSF Clinical & Life Sciences Building) Series 2025 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6175000 | &nbsp;&nbsp; 6175000 |
| **California Municipal Finance Auth** |  |  |  |  |  |
| Recovery Zone Facility RB (Chevron) Series 2010A <br> *(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 145660000 | &nbsp;&nbsp; 145660000 |
| Recovery Zone Facility RB (Chevron) Series 2010B <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 30645000 | &nbsp;&nbsp; 30645000 |
| Recovery Zone Facility RB (Chevron) Series 2010C <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 36590000 | &nbsp;&nbsp; 36590000 |
| Refunding RB (ExxonMobil) Series 2007 <br> *(a)* | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 25235000 | &nbsp;&nbsp; 25235000 |
| Solid Waste Disposal RB (Recology Inc) Series 2024A (**LOC**: PNC <br> BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 1.36% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| **California Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Hilmar Cheese) Series 2010 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9695000 | &nbsp;&nbsp; 9695000 |
| Solid Waste Disposal RB (Ag Resources III) Series 2004 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5060000 | &nbsp;&nbsp; 5060000 |
| Solid Waste Disposal RB (Bidart Dairy) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Solid Waste Disposal RB (Desert Properties) Series 2006B (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**7**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Solid Waste Disposal RB (EDCO Disposal) Series 2007A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.25% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Solid Waste Disposal RB (George Borba & Son Dairy) Series 2003 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Solid Waste Disposal RB (JDS Ranch) Series 2003 (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| Solid Waste Disposal RB (P & D Dairy Poso Creek Family Dairy LLC) <br> Series 2003 (**LOC**: BMO BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Solid Waste Disposal RB (Recology) Series 2018A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 1.36% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.25% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (T&W Farms) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.60% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 89550000 | &nbsp;&nbsp; 89550000 |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 84600000 | &nbsp;&nbsp; 84600000 |
| RB (Sharp Healthcare) Series 2024B (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 0.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22800000 | &nbsp;&nbsp; 22800000 |
| RB (Sharp Healthcare) Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 69600000 | &nbsp;&nbsp; 69600000 |
| RB (Sharp Healthcare) Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 37100000 | &nbsp;&nbsp; 37100000 |
| RB (Sharp Healthcare) Series 2024E (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 72015000 | &nbsp;&nbsp; 72015000 |
| **California Public Works Board** |  |  |  |  |  |
| Lease RB Series 2023D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| Lease RB Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **California School Cash Reserve Program Authority** |  |  |  |  |  |
| TRAN 2025-2026A<br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 18750000 | &nbsp;&nbsp; 19120687 |
| **California State Univ** |  |  |  |  |  |
| CP Series A1 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 10200000 | &nbsp;&nbsp; 10200000 |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 45665000 | &nbsp;&nbsp; 45665000 |
| CP Series A2 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 13065000 | &nbsp;&nbsp; 13064970 |
| RB Series 2018A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3035000 | &nbsp;&nbsp; 3035000 |
| RB Series 2023A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8075000 | &nbsp;&nbsp; 8075000 |
| RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| M/F Housing RB (Avian Glen Apts) Series 2004CC (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3090000 | &nbsp;&nbsp; 3090000 |
| M/F Housing RB (Concord Green Apts) Series 1998S (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 29990000 | &nbsp;&nbsp; 29990000 |
| M/F Housing RB (Dublin Ranch Sr Apts) Series 2006G (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210000 |

---

*See financial notes*

**8**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 (Fairway Family Apts) Series 2003PP (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| M/F Housing RB (Grande Garden Apts) Series 2004TT (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1525000 | &nbsp;&nbsp; 1525000 |
| M/F Housing RB (Imperial Park Apts) Series 2007OO (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10620000 | &nbsp;&nbsp; 10620000 |
| M/F Housing RB (Laurel Park Sr Apts) Series 2002H (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.91% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4750000 | &nbsp;&nbsp; 4750000 |
| M/F Housing RB (Oak Center Towers) Series 2005L (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.47% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| M/F Housing RB (Stoneridge at Elk Grove) Series 2005Q <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4540000 | &nbsp;&nbsp; 4540000 |
| M/F Housing RB (Varenna Assisted Living Apts) Series 2006F <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &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; 0.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20290000 | &nbsp;&nbsp; 20290000 |
| M/F Housing Refunding RB (Crossings at Madera) Series 2005B <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| M/F Housing Refunding RB (Desert Palms Apts) Series 2010A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| M/F Housing Refunding RB (Horizons at Indio Park) Series 2005F <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 0.87% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13730000 | &nbsp;&nbsp; 13730000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 25540000 | &nbsp;&nbsp; 25540000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 45015000 | &nbsp;&nbsp; 45015000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 13800000 | &nbsp;&nbsp; 13800000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 19625000 | &nbsp;&nbsp; 19625000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 24800000 | &nbsp;&nbsp; 24800000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 29590000 | &nbsp;&nbsp; 29590000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 41320000 | &nbsp;&nbsp; 41320000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 50080000 | &nbsp;&nbsp; 50080000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**9**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| RB (Kaiser Permanente) Series 2009B1  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| RB (Kaiser Permanente) Series 2009B2  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B3  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B5  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp; 11700000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Rady Children's Hospital) Series 2008B (**LOC**: WELLS FARGO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 28180000 | &nbsp;&nbsp; 28180000 |
| **Central Valley Energy Auth** |  |  |  |  |  |
| Commodity Supply RB Series 2025 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14870000 | &nbsp;&nbsp; 14870000 |
| **Chino Valley USD** |  |  |  |  |  |
| GO Bonds Series 2020B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp; 3075000 |
| **Contra Costa Water District** |  |  |  |  |  |
| Extendible CP<br> *(c)* | &nbsp;&nbsp; 2.95% | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 02/02/26 | &nbsp;&nbsp; 28300000 | &nbsp;&nbsp; 28300000 |
| **East Bay Municipal Utility District** |  |  |  |  |  |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 4930000 | &nbsp;&nbsp; 4930000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 35470000 | &nbsp;&nbsp; 35470000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 6640000 | &nbsp;&nbsp; 6640000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Water System RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| Water System RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3825000 | &nbsp;&nbsp; 3825000 |
| **Eastern Municipal Water District** |  |  |  |  |  |
| Water & Wastewater Refunding RB Series 2018A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 75905000 | &nbsp;&nbsp; 75905000 |
| Water & Wastewater Refunding RB Series 2024A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 18050000 | &nbsp;&nbsp; 18050000 |
| **Emeryville Successor Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Bay St Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.91% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 57715000 | &nbsp;&nbsp; 57715000 |
| **Golden Gate Bridge & Highway District** |  |  |  |  |  |
| CP Series A (**LIQ**: JPMORGAN CHASE BANK NA) | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 30500000 | &nbsp;&nbsp; 30500000 |
| **Imperial Irrigation District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 26729000 | &nbsp;&nbsp; 26729000 |
| **Irvine** |  |  |  |  |  |
| Limited Obligation Bonds (Assessment District 93-14) <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 54537000 | &nbsp;&nbsp; 54537000 |
| Limited Obligation Bonds (Assessment District No 00-18) Series A <br> (**LOC**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7483000 | &nbsp;&nbsp; 7483000 |

---

*See financial notes*

**10**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Irvine Ranch Water District** |  |  |  |  |  |
| Consolidated Refunding Bonds Series 2008A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.79% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| Refunding Bonds Series 2011A1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 21945000 | &nbsp;&nbsp; 21945000 |
| Refunding Bonds Series 2011A2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13550000 | &nbsp;&nbsp; 13550000 |
| **Irvine Reassessment District No 4-20** |  |  |  |  |  |
| Limited Obligation Bonds Series A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(a)* | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/01/25 | &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; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13335000 | &nbsp;&nbsp; 13335000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2025<br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 84000000 | &nbsp;&nbsp; 85525440 |
| **Los Angeles CCD** |  |  |  |  |  |
| GO Bonds Series 2008L  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 17095000 | &nbsp;&nbsp; 17125188 |
| GO Bonds Series 2022A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 9795000 | &nbsp;&nbsp; 9812212 |
| **Los Angeles Cnty** |  |  |  |  |  |
| TRAN 2025-2026 Series A<br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 97008300 |
| **Los Angeles Cnty Capital Asset Leasing Corp** |  |  |  |  |  |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 30436000 | &nbsp;&nbsp; 30436000 |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/24/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Lease Revenue CP Series B (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Lease Revenue CP Series B (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Lease Revenue CP Series C (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Lease Revenue CP Series C (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 58223000 | &nbsp;&nbsp; 58223000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 5470000 | &nbsp;&nbsp; 5470000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 20705000 | &nbsp;&nbsp; 20705000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| **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; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Lease RB (Vermont Corridor Cnty Administration Building) <br> Series 2018A (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| **Los Angeles Cnty Metropolitan Transportation Auth** |  |  |  |  |  |
| Sr Sales Tax RB Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| **Los Angeles Cnty Public Works Financing Auth** |  |  |  |  |  |
| Lease RB Series 2021F (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3970000 | &nbsp;&nbsp; 3970000 |
| Lease RB Series 2024H (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13330000 | &nbsp;&nbsp; 13330000 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Airport Sub Refunding RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24920000 | &nbsp;&nbsp; 24920000 |
| Airport Sub Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6455000 | &nbsp;&nbsp; 6455000 |
| Sr RB Series 2020C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sr RB Series 2020C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Sr RB Series 2020C & 2022H (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9440000 | &nbsp;&nbsp; 9440000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**11**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sr RB Series 2022G (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4975000 | &nbsp;&nbsp; 4975000 |
| Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| Sr RB Series 2022H (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6005000 | &nbsp;&nbsp; 6005000 |
| Sub RB Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| Sub RB Series 2017A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| Sub RB Series 2017A & 2018D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5790000 | &nbsp;&nbsp; 5790000 |
| Sub RB Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp; 1690000 |
| Sub RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp; 1670000 |
| Sub RB Series 2018D (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5510000 | &nbsp;&nbsp; 5510000 |
| Sub RB Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub RB Series 2019E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Sub RB Series 2019F (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4110000 | &nbsp;&nbsp; 4110000 |
| Sub RB Series 2021D & Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Sub Refunding RB Series 2016B & 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &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; 142143 |
| Sub Refunding RB Series 2021A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7215000 | &nbsp;&nbsp; 7215000 |
| Sub Refunding RB Series 2021A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Sub Refunding RB series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Sub Refunding RB Series 2025A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7565000 | &nbsp;&nbsp; 7565000 |
| Sub Refunding RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8150000 | &nbsp;&nbsp; 8150000 |
| Sub Refunding RB Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Sub Refunding RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7280000 | &nbsp;&nbsp; 7280000 |
| Sub Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12400000 |
| Sub Refunding RB Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; 9100000 |
| Sub Refunding RB Series 2025A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 2.10% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 09/25/25 | &nbsp;&nbsp; 8330000 | &nbsp;&nbsp; 8330000 |
| Sub Refunding RB Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3545000 | &nbsp;&nbsp; 3545000 |
| Sub Refunding RB Series 2025A&B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20310000 | &nbsp;&nbsp; 20310000 |
| Sub Refunding RB Series 2025D (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub Refunding RB Series 2025D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5275000 | &nbsp;&nbsp; 5275000 |
| **Los Angeles Harbor Dept** |  |  |  |  |  |
| Refunding RB Series 2016C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Los Angeles Municipal Improvement Corp** |  |  |  |  |  |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 31700000 | &nbsp;&nbsp; 31700000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp; 11428000 | &nbsp;&nbsp; 11428000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 7751000 | &nbsp;&nbsp; 7751000 |

---

*See financial notes*

**12**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.72% |  | &nbsp;&nbsp; 09/03/25 | &nbsp;&nbsp; 18860000 | &nbsp;&nbsp; 18860000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| **Los Angeles USD** |  |  |  |  |  |
| GO Bonds Series 2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2815000 | &nbsp;&nbsp; 2815000 |
| GO Bonds Series 2020RYQ  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 990000 | &nbsp;&nbsp; 990000 |
| GO Bonds Series 2020RYQ (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19570000 | &nbsp;&nbsp; 19570000 |
| GO Bonds Series 2022QRR (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4925000 | &nbsp;&nbsp; 4925000 |
| GO Bonds Series 2023QRR (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9625000 | &nbsp;&nbsp; 9625000 |
| GO Bonds Series 2024QRR  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 57610000 | &nbsp;&nbsp; 57610000 |
| GO Refunding Bonds Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| GO Refunding Bonds Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2230000 | &nbsp;&nbsp; 2230000 |
| GO Refunding Bonds Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 35800000 | &nbsp;&nbsp; 35800000 |
| GO Refunding Bonds Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125000 |
| GO Refunding Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14235000 | &nbsp;&nbsp; 14235000 |
| **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; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 65400000 | &nbsp;&nbsp; 65400000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 61600000 | &nbsp;&nbsp; 61600000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 2.01% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 78300000 | &nbsp;&nbsp; 78300000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 57000000 | &nbsp;&nbsp; 57000000 |
| **Orange Cnty Water District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) | &nbsp;&nbsp; 2.65% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Pasadena** |  |  |  |  |  |
| Refunding COP Series 2008A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 71445000 | &nbsp;&nbsp; 71445000 |
| **Riverside** |  |  |  |  |  |
| Water Refunding RB Series 2011A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 23950000 | &nbsp;&nbsp; 23950000 |
| **Riverside Cnty** |  |  |  |  |  |
| Teeter Plan Obligation Notes Series 2024A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37017347 |
| TRAN 2025 <br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 63390660 |
| **Sacramento Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Valencia Point Apts) Series 2006I (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10050000 | &nbsp;&nbsp; 10050000 |
| **Sacramento Municipal Utility District** |  |  |  |  |  |
| CP Series L1 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 16825000 | &nbsp;&nbsp; 16825000 |
| CP Series L1 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 24900000 | &nbsp;&nbsp; 24900000 |
| Electric RB Series 2020H (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Sub Electric Refunding RB Series 2023C (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 57020000 | &nbsp;&nbsp; 57020000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**13**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Sacramento Water Revenue** |  |  |  |  |  |
| Water RB Series 2017 (**LIQ**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| **San Diego CCD** |  |  |  |  |  |
| GO Bonds Series 2016  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500813 |
| GO Bonds Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7700000 | &nbsp;&nbsp; 7700000 |
| GO Refunding Bonds Series 2016  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 4325000 | &nbsp;&nbsp; 4332637 |
| **San Diego Cnty** |  |  |  |  |  |
| TRAN 2025<br> *(e)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10232000 |
| **San Diego Cnty Regional Airport Auth** |  |  |  |  |  |
| Sub Airport RB Series 2019B & 2021B (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3935000 | &nbsp;&nbsp; 3935000 |
| **San Diego Cnty Regional Transportation Commission** |  |  |  |  |  |
| Sub Sales Tax Revenue CP Series B (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 16768000 | &nbsp;&nbsp; 16768000 |
| **San Diego Cnty Water Auth** |  |  |  |  |  |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 29100000 | &nbsp;&nbsp; 29100000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 34993250 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 10/08/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 11/04/25 | &nbsp;&nbsp; 14115000 | &nbsp;&nbsp; 14115000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 11/06/25 | &nbsp;&nbsp; 10885000 | &nbsp;&nbsp; 10885000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| **San Diego Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Courthouse Commons) Series 2020F (**LOC**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 1.30% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 64265000 | &nbsp;&nbsp; 64265000 |
| **San Diego Public Facilities Financing Auth** |  |  |  |  |  |
| Sub Water Refunding RB Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210227 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 10554000 | &nbsp;&nbsp; 10554000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 42908000 | &nbsp;&nbsp; 42908000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 23100000 | &nbsp;&nbsp; 23100000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 12527000 | &nbsp;&nbsp; 12527000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 40926000 | &nbsp;&nbsp; 40926000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 17013000 | &nbsp;&nbsp; 17013000 |
| **San Diego USD** |  |  |  |  |  |
| GO Bonds Series 2016R5  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210000 |
| GO Bonds Series 2022F2 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2920000 | &nbsp;&nbsp; 2920000 |
| GO Bonds Series 2022F2 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Bonds Series 2023A3 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2725000 | &nbsp;&nbsp; 2725000 |
| GO Bonds Series 2023G2  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 485000 |
| Go Bonds Series 2024 O2  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp; 1685000 |
| Go Refunding Bonds Series 2004D1  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 875000 | &nbsp;&nbsp; 875000 |

---

*See financial notes*

**14**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| ULT GO Refunding Bonds Series 2005C2  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 815000 | &nbsp;&nbsp; 815000 |
| ULT GO Refunding Bonds Series 2015R4  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1090000 | &nbsp;&nbsp; 1090000 |
| **San Francisco** |  |  |  |  |  |
| Lease Revenue CP Series 2 (**LIQ**: WELLS FARGO BANK NA) | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 30810000 | &nbsp;&nbsp; 30810000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2016C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp; 1975000 |
| RB 2nd Series 2017A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| RB 2nd Series 2018B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| RB 2nd Series 2018C (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.70% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 46330000 | &nbsp;&nbsp; 46330000 |
| RB 2nd Series 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20440000 | &nbsp;&nbsp; 20440000 |
| RB 2nd Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| RB 2nd Series 2019A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 18755000 | &nbsp;&nbsp; 18755000 |
| RB 2nd Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| RB 2nd Series 2019A & 2019E & 2022A (**LOC**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11350000 | &nbsp;&nbsp; 11350000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 65065000 | &nbsp;&nbsp; 65065000 |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 43395000 | &nbsp;&nbsp; 43395000 |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9385000 | &nbsp;&nbsp; 9385000 |
| RB 2nd Series 2025A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| RB 2nd Series 2025A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 30890000 | &nbsp;&nbsp; 30890000 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Refunding RB 2nd Series 2023C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Refunding RB 2nd Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Refunding RB 2nd Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **San Francisco Bay Area Rapid Transit District** |  |  |  |  |  |
| GO Bonds Series 2022D1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| GO Bonds Series 2022D1 (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| GO Bonds Series 2022D1 & 2019B1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 920000 |
| **San Francisco Finance Corp** |  |  |  |  |  |
| Lease Refunding RB Series 20081 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17400000 |
| Lease Refunding RB Series 20082 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.20% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| **San Francisco Public Utilities Commission** |  |  |  |  |  |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 34435000 | &nbsp;&nbsp; 34435000 |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 40444000 | &nbsp;&nbsp; 40444000 |
| Power CP Notes Series A3 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Wastewater RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2130000 |
| Wastewater RB Series 2024C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Wastewater RB Series 2024D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12465000 | &nbsp;&nbsp; 12465000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**15**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Francisco Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (3rd & Mission) Series 1999C (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **San Jose** |  |  |  |  |  |
| M/F Housing RB (Cinnabar Commons) Series 2003C (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.62% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19400000 | &nbsp;&nbsp; 19400000 |
| M/F Housing RB (Pollard Plaza Apts) Series 2002D (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4395000 | &nbsp;&nbsp; 4395000 |
| M/F Housing Refunding RB (Las Ventanas Apts) Series 2008B <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25900000 | &nbsp;&nbsp; 25900000 |
| Sub Airport CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 09/03/25 | &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; 1.10% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4685000 | &nbsp;&nbsp; 4685000 |
| Lease RB Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9045000 | &nbsp;&nbsp; 9045000 |
| **San Mateo Cnty Transportation Auth** |  |  |  |  |  |
| Sub Sales Tax RB Series 2020A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 42610000 | &nbsp;&nbsp; 42610000 |
| Sub Sales Tax RB Series 2020B (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| **San Rafael Redevelopment Agency** |  |  |  |  |  |
| MF Hsg RB (San Rafael Commons Apts) Ser 2001A (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 1.54% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1420000 | &nbsp;&nbsp; 1420000 |
| **Santa Clara Valley Transportation Auth** |  |  |  |  |  |
| Sales Tax RB Series 2025A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sales Tax RB Series 2025A2 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 0.55% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Santa Clara Valley Water District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 7812000 | &nbsp;&nbsp; 7812000 |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **Santa Clarita Valley Water Agency** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 2.68% |  | &nbsp;&nbsp; 11/05/25 | &nbsp;&nbsp; 9450000 | &nbsp;&nbsp; 9450000 |
| **Santa Cruz Cnty** |  |  |  |  |  |
| TRAN 2025-26 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20440465 |
| **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; 1.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19325000 | &nbsp;&nbsp; 19325000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2017A  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Sub Water Refunding RB Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13210000 | &nbsp;&nbsp; 13210000 |
| Sub Water Refunding RB Series 2024B1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 1.20% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 66000000 | &nbsp;&nbsp; 66000000 |
| Sub Water Refunding RB Series 2024D (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 101410000 | &nbsp;&nbsp; 101410000 |
| Water RB Series 2017A (**LIQ**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24275000 | &nbsp;&nbsp; 24275000 |
| Water Refunding RB Series 2016B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.20% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 21110000 | &nbsp;&nbsp; 21110000 |
| **Southern California Public Power Auth** |  |  |  |  |  |
| Refunding RB (Canyon Power) Series 2022B (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 60385000 | &nbsp;&nbsp; 60385000 |
| Refunding RB (Linden Wind Energy) Series 2024A (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |

---

*See financial notes*

**16**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Univ of California** |  |  |  |  |  |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 85000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 07/24/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 46400000 | &nbsp;&nbsp; 46400000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 43000000 | &nbsp;&nbsp; 43000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 09/09/25 | &nbsp;&nbsp; 26500000 | &nbsp;&nbsp; 26500000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 28000000 | &nbsp;&nbsp; 28000000 |
| Limited Project RB Series 2018O (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15140000 | &nbsp;&nbsp; 15140000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| **Ventura USD** |  |  |  |  |  |
| GO Bonds Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| GO Bonds Series A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp; 1780000 |
| **Washington Township Health Care District** |  |  |  |  |  |
| GO Bonds Series 2015B (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp; 2825000 |
|  |  |  |  |  | &nbsp;&nbsp; **9140422277** |
| **COLORADO 0.0%** | **COLORADO 0.0%** | **COLORADO 0.0%** | **COLORADO 0.0%** | **COLORADO 0.0%** | **COLORADO 0.0%** |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp; **1055000** |
| **NEW YORK 1.0%** | **NEW YORK 1.0%** | **NEW YORK 1.0%** | **NEW YORK 1.0%** | **NEW YORK 1.0%** | **NEW YORK 1.0%** |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY)<br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 43715000 | &nbsp;&nbsp; 43715000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 <br> (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26050000 | &nbsp;&nbsp; 26050000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**17**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 (160 Madison Ave) Series 2013A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 20100000 | &nbsp;&nbsp; 20100000 |
|  |  |  |  |  | &nbsp;&nbsp; **89865000** |
| **OHIO 0.0%** | **OHIO 0.0%** | **OHIO 0.0%** | **OHIO 0.0%** | **OHIO 0.0%** | **OHIO 0.0%** |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Catholic Healthcare Partners) Series 2010C <br> (**LOC**: TRUIST BANK)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; **2950000** |
| **PENNSYLVANIA 0.9%** | **PENNSYLVANIA 0.9%** | **PENNSYLVANIA 0.9%** | **PENNSYLVANIA 0.9%** | **PENNSYLVANIA 0.9%** | **PENNSYLVANIA 0.9%** |
| **Pennsylvania Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Thomas Jefferson Univ) Series 2024D2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 39150000 | &nbsp;&nbsp; 39150000 |
| RB (Thomas Jefferson Univ) Series 2024D4 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 43545000 | &nbsp;&nbsp; 43545000 |
|  |  |  |  |  | &nbsp;&nbsp; **82695000** |
| **WISCONSIN 0.1%** | **WISCONSIN 0.1%** | **WISCONSIN 0.1%** | **WISCONSIN 0.1%** | **WISCONSIN 0.1%** | **WISCONSIN 0.1%** |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023C (**LOC**: TD <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11055000 | &nbsp;&nbsp; **11055000** |
| **Total Municipal Securities** <br>**(Cost $9,336,347,277)** | **Total Municipal Securities** <br>**(Cost $9,336,347,277)** | **Total Municipal Securities** <br>**(Cost $9,336,347,277)** | **Total Municipal Securities** <br>**(Cost $9,336,347,277)** | **Total Municipal Securities** <br>**(Cost $9,336,347,277)** | &nbsp;&nbsp; **9336347277** |
| **Total Investments in Securities** <br>**(Cost $9,336,347,277)** | **Total Investments in Securities** <br>**(Cost $9,336,347,277)** | **Total Investments in Securities** <br>**(Cost $9,336,347,277)** | **Total Investments in Securities** <br>**(Cost $9,336,347,277)** | **Total Investments in Securities** <br>**(Cost $9,336,347,277)** | &nbsp;&nbsp; **9336347277** |

---

&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 $1,915,724,000 or 21.1% 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;*(e)* Security or a portion of the security purchased on a delayed-delivery or when-issued basis.

&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 |
| 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 |
| 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 |

---

*See financial notes*

**18**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

At June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**19**

------

Schwab California Municipal Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $9336347277 |
| Cash |  | 8340339 |
| Receivables: |  |  |
| Interest |  | 30424725 |
| Fund shares sold |  | 28184202 |
| Investments sold |  | 16500994 |
| Prepaid expenses | + | 104072 |
| **Total assets** |  | **9419901609** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought - delayed-delivery |  | 275277088 |
| Fund shares redeemed |  | 51653392 |
| Investments bought |  | 8324056 |
| Distributions to shareholders |  | 4051703 |
| Investment adviser and administrator fees |  | 1330210 |
| Shareholder service fees |  | 53550 |
| Accrued expenses | + | 192509 |
| **Total liabilities** |  | **340882508** |
| **Net assets** |  | **$9079019101** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $9079021954 |
| Total distributable loss | + | (2853)<br>|
| **Net assets** |  | **$9079019101** |

---

&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 | $2610349497 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2609765175 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $6468669604 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6467227406 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

**20**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$108546919** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 8344674 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 1911917 |
| Registration fees |  | 121348 |
| Portfolio accounting fees |  | 73185 |
| Independent trustees' fees |  | 26820 |
| Professional fees |  | 20683 |
| Custodian fees |  | 16796 |
| Shareholder reports |  | 11008 |
| Transfer agent fees  |  | 624 |
| Other expenses | + | 23248 |
| **Total expenses** |  | **10550303** |
| Expense reduction | – | 293713 |
| **Net expenses** | – | **10256590** |
| **Net investment income** |  | **98290329** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized losses on sales of securities - unaffiliated issuers**  |  | **(6432)**<br>|
| **Increase in net assets resulting from operations** |  | **$98283897** |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**21**

------

Schwab California Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $98290329 | &nbsp;&nbsp;&nbsp; $246390674 |
| Net realized gains (losses) | + | (6432)<br>| &nbsp;&nbsp;&nbsp; 293852 |
| **Increase in net assets from operations** |  | **$98283897** | &nbsp;&nbsp;&nbsp; **$246684526** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($27193433)<br>| &nbsp;&nbsp;&nbsp; ($68466453)<br>|
| Ultra Shares | + | (71096896)<br>| &nbsp;&nbsp;&nbsp; (178171644)<br>|
| **Total distributions** |  | **($98290329)**<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 |  | 1451016629 | &nbsp;&nbsp;&nbsp; 2660029948 |
| Ultra Shares | + | 4765717719 | &nbsp;&nbsp;&nbsp; 8254962482 |
| **Total shares sold** |  | **6216734348** | &nbsp;&nbsp;&nbsp; **10914992430** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 19930585 | &nbsp;&nbsp;&nbsp; 51210392 |
| Ultra Shares | + | 53210282 | &nbsp;&nbsp;&nbsp; 138605602 |
| **Total shares reinvested** |  | **73140867** | &nbsp;&nbsp;&nbsp; **189815994** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (1465875017)<br>| &nbsp;&nbsp;&nbsp; (2589346109)<br>|
| Ultra Shares | + | (4775898517)<br>| &nbsp;&nbsp;&nbsp; (7529704044)<br>|
| **Total shares redeemed** |  | **(6241773534)**<br>| &nbsp;&nbsp;&nbsp; **(10119050153)**<br>|
| **Net transactions in fund shares** |  | **48101681** | &nbsp;&nbsp;&nbsp; **985758271** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $9030923852 | &nbsp;&nbsp;&nbsp; $8045119152 |
| Total increase  | + | 48095249 | &nbsp;&nbsp;&nbsp; 985804700 |
| **End of period** |  | **$9079019101** | &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*

**22**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.24 %<sup>3</sup><br>| 3.06<br> %<br>| 3.03<br> %<br>| 0.92<br> %<br>| 0.06<br> %<br>| 0.34<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>5,6</sup><br>| 0.12 %<sup>6</sup><br>| 0.30 %<sup>6,7</sup><br>|
| Total expenses | 0.35 %<sup>4</sup><br>| 0.36<br> %<br>| 0.36<br> %<br>| 0.37 %<sup>5</sup><br>| 0.38<br> %<br>| 0.49<br> %<br>|
| Net investment income (loss) | 2.48 %<sup>4</sup><br>| 3.01<br> %<br>| 3.00<br> %<br>| 1.05<br> %<br>| 0.01<br> %<br>| 0.43<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1073 | &nbsp;&nbsp; $1054 | &nbsp;&nbsp; $989 | &nbsp;&nbsp; $702 | &nbsp;&nbsp; $470 | &nbsp;&nbsp; $668 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

<sup>7</sup> Effective September 24, 2020, the contractual expense limitation changed. The ratio presented for period ended December 31, 2020, is a blended ratio.

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**23**

------

Schwab New York Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/25– <br>6/30/25\*<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>| 9/24/20<sup>1</sup>– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Net realized and unrealized gains (losses) | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 0.01 | 0.03 | 0.03 | 0.01 | 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Distributions from net realized gains | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>3</sup><br>| &nbsp;&nbsp; (0.00 )<sup>3</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 | &nbsp;&nbsp; $1.00 |
| Total return | 1.31 %<sup>4</sup><br>| 3.21<br> %<br>| 3.19<br> %<br>| 1.05<br> %<br>| 0.06<br> %<br>| 0.02 %<sup>4</sup><br>|
| **Ratios/Supplemental Data** | **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 %<sup>5</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>6,7</sup><br>| 0.12 %<sup>7</sup><br>| 0.19 %<sup>5</sup><br>|
| Total expenses | 0.20 %<sup>5</sup><br>| 0.21<br> %<br>| 0.21<br> %<br>| 0.22 %<sup>6</sup><br>| 0.23<br> %<br>| 0.22 %<sup>5</sup><br>|
| Net investment income (loss) | 2.62 %<sup>5</sup><br>| 3.15<br> %<br>| 3.13<br> %<br>| 1.60<br> %<br>| 0.01<br> %<br>| 0.03 %<sup>5</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1824 | &nbsp;&nbsp; $1848 | &nbsp;&nbsp; $1394 | &nbsp;&nbsp; $1058 | &nbsp;&nbsp; $98 | &nbsp;&nbsp; $119 |

---

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

\* Unaudited.

<sup>1</sup> Commencement of operations.

<sup>2</sup> Calculated based on the average shares outstanding during the period.

<sup>3</sup> Per-share amount was less than $0.005.

<sup>4</sup> Not annualized.

<sup>5</sup> Annualized.

<sup>6</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>7</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**24**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 100.1% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.1% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.1% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.1% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.1% OF NET ASSETS | **MUNICIPAL SECURITIES** 100.1% OF NET ASSETS |
| **DISTRICT OF COLUMBIA 0.0%** | **DISTRICT OF COLUMBIA 0.0%** | **DISTRICT OF COLUMBIA 0.0%** | **DISTRICT OF COLUMBIA 0.0%** | **DISTRICT OF COLUMBIA 0.0%** | **DISTRICT OF COLUMBIA 0.0%** |
| **Metropolitan Washington Airports Auth** |  |  |  |  |  |
| Airport System RB Series 2009D2 (**LOC**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; **880000** |
| **NEW YORK 100.1%** | **NEW YORK 100.1%** | **NEW YORK 100.1%** | **NEW YORK 100.1%** | **NEW YORK 100.1%** | **NEW YORK 100.1%** |
| **Albany IDA** |  |  |  |  |  |
| Sr Housing RB (South Mall Towers) Series 2003A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 190000 |
| **Amherst Development Corp** |  |  |  |  |  |
| Sr Living Facility Refunding RB (Asbury Pointe Inc) Series 2011A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.02% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6285000 | &nbsp;&nbsp; 6285000 |
| **Arlington CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 8750000 | &nbsp;&nbsp; 8804370 |
| **Baldwinsville CSD** |  |  |  |  |  |
| BAN 2025B<br> *(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/17/26 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5954339 |
| **Battery Park City Auth** |  |  |  |  |  |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26750000 | &nbsp;&nbsp; 26750000 |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 31575000 | &nbsp;&nbsp; 31575000 |
| **BlackRock Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(c)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| **Blackrock MuniHoldings New York Quality Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(c)* | &nbsp;&nbsp; 2.06% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 83000000 |
| **Brewster CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19146051 |
| **Cheektowaga-Maryvale UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 8825000 | &nbsp;&nbsp; 8859275 |
| **Chruchville-Chili CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8111418 |
| **Colonie Local Development Corp** |  |  |  |  |  |
| RB (Shaker Pointe at Carondelet) Series 2011 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
| RB (Shaker Pointe at Carondelet) Series 2013 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9345000 | &nbsp;&nbsp; 9345000 |
| **Cornwall CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/17/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5067652 |
| **East Greenbush CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; 10118004 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**25**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &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; 15065910 |
| **Erie Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Canisius High School) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8270000 | &nbsp;&nbsp; 8270000 |
| **Fayetteville-Manlius CSD** |  |  |  |  |  |
| BAN 2025B<br> *(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2115645 |
| **Hudson Yards Infrastructure** |  |  |  |  |  |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **Ithaca SD** |  |  |  |  |  |
| BAN 2025<br> *(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2624466 |
| **Katonah-Lewisboro UFSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13064095 |
| **Kingston** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 13470000 | &nbsp;&nbsp; 13568773 |
| **Lancaster CSD** |  |  |  |  |  |
| Ban 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 7045231 | &nbsp;&nbsp; 7080173 |
| **Lancaster IDA** |  |  |  |  |  |
| Civic Facility RB (GreenField Manor) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8300000 |
| IDRB (Sealing Devices) Series 2007 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 510000 |
| IDRB (Sealing Devices) Series 2016 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp; 2160000 |
| **Lewiston-Porter CSD** |  |  |  |  |  |
| BAN 2025<br> *(b)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 07/15/26 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10561845 |
| **Liverpool CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15093206 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3004136 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Bonds Series 2024B1 (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 18430000 | &nbsp;&nbsp; 18430000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-2A (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1085000 | &nbsp;&nbsp; 1085000 |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 23280000 | &nbsp;&nbsp; 23280000 |
| Transportation RB Series 2005D2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Transportation RB Series 2015E3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| Transportation Refunding RB Series 2002D-2A1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15300000 | &nbsp;&nbsp; 15300000 |
| Transportation Refunding RB Series 2002D2B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 37075000 | &nbsp;&nbsp; 37075000 |
| Transportation Refunding RB Series 2012G3 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
| Transportation Refunding RB Series 2012G4 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp; 12100000 |
| Transportation Refunding RB Series 2020B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10750000 | &nbsp;&nbsp; 10750000 |

---

*See financial notes*

**26**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7170000 | &nbsp;&nbsp; 7170000 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2008 Series J11  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500541 |
| GO Bonds Fiscal 2008 Series J9  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350469 |
| GO Bonds Fiscal 2010 Series G4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| GO Bonds Fiscal 2013 Series A3 (**LOC**: MIZUHO BANK LTD) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7830000 | &nbsp;&nbsp; 7830000 |
| GO Bonds Fiscal 2016 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1252101 |
| GO Bonds Fiscal 2016 Series E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 970000 | &nbsp;&nbsp; 971049 |
| GO Bonds Fiscal 2018 Series 1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110158 |
| GO Bonds Fiscal 2018 Series C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150208 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |
| GO Bonds Fiscal 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6550000 | &nbsp;&nbsp; 6550000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1285000 |
| GO Bonds Fiscal 2019 Series E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 425597 |
| GO Bonds Fiscal 2020 Series C1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 2155000 | &nbsp;&nbsp; 2157969 |
| GO Bonds Fiscal 2020 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |
| GO Bonds Fiscal 2021 Series A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp; 1186569 |
| GO Bonds Fiscal 2021 Series F1 (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3485000 | &nbsp;&nbsp; 3485000 |
| GO Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| GO Bonds Fiscal 2023 Series B1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100477 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| GO Bonds Fiscal 2023 Series C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4407715 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12020000 | &nbsp;&nbsp; 12020000 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8300000 |
| GO Bonds Fiscal 2023 Series F1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 2690000 | &nbsp;&nbsp; 2694459 |
| GO Bonds Fiscal 2024 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8440000 | &nbsp;&nbsp; 8440000 |
| GO Bonds Fiscal 2025 Series A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 28990000 | &nbsp;&nbsp; 29037092 |
| GO Bonds Fiscal 2025 Series A (**LIQ**: DEUTSCHE BANK AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3705000 | &nbsp;&nbsp; 3705000 |
| GO bonds Fiscal 2025 Series C1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| GO Bonds Fiscal 2025 Series C3 (**LOC**: ROYAL BANK OF CANADA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 68750000 | &nbsp;&nbsp; 68750000 |
| GO Bonds Fiscal 2025 Series F  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6011299 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**27**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2018L1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| M/F Housing RB Series 2018L2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16180000 | &nbsp;&nbsp; 16180000 |
| M/F Housing RB Series 2019E1  | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199014 |
| M/F Housing RB Series 2020I1  | &nbsp;&nbsp; 0.65% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 495447 |
| M/F Housing RB Series 2022C3 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| M/F Housing RB Series 2022F3 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 1.90% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 44170000 | &nbsp;&nbsp; 44170000 |
| M/F Housing RB Series 2023 E1A (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| M/F Housing RB Series 2023B3 (**LIQ**: CITIBANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15190000 | &nbsp;&nbsp; 15190000 |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| M/F Housing RB Series 2025A1 (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6155000 | &nbsp;&nbsp; 6155000 |
| M/F Housing RB Series 2025E  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| M/F Housing RB Series B1A & C1A (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3745000 | &nbsp;&nbsp; 3745000 |
| M/F Mortgage RB (201 Pearl St) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| M/F Mortgage RB (Granville Payne Apts) Series 2006A (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4860000 | &nbsp;&nbsp; 4860000 |
| M/F Mortgage RB (Las Casas) Series 2008A (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| M/F Mortgage RB (Susan's Court) Series 2007A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.93% |  | &nbsp;&nbsp; 07/07/25 | &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; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| M/F Rental Housing RB (Atlantic Court Apts) Series 2005A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9640000 | &nbsp;&nbsp; 9640000 |
| M/F Rental Housing RB (NYCHA Triborough Preservation) <br> Series 2014A1 (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>| &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199790 |
| M/F Rental Housing RB (Sierra Development) Series 2003A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| M/F Rental Housing RB (Westport) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 68000000 | &nbsp;&nbsp; 68000000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer 2nd Resolution RB Fiscal 2023 Series DD <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2020 <br> Series GG1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2022 <br> Series CC1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3980000 | &nbsp;&nbsp; 3980000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: DEUTSCHE BANK AG) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: DEUTSCHE BANK AG) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |

---

*See financial notes*

**28**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2830000 | &nbsp;&nbsp; 2830000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series BB (**LIQ**: MORGAN STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 2.02% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp; 21965000 | &nbsp;&nbsp; 21965000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2013 Series AA2 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9780000 | &nbsp;&nbsp; 9780000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA6 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD Fiscal <br> 2018 Series BB1&CC1 (**LIQ**: BARCLAYS BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 9995000 | &nbsp;&nbsp; 9995000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2018 Series DD1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3345000 | &nbsp;&nbsp; 3345000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7615000 | &nbsp;&nbsp; 7615000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & <br> 2020 Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1585000 | &nbsp;&nbsp; 1585000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24550000 | &nbsp;&nbsp; 24550000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Water & Sewer System RB Fiscal 2010 Series CC (**LIQ**: STATE STREET <br> BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Water & Sewer System RB Fiscal 2015 Series BB2 (**LIQ**: MIZUHO BANK <br> LTD) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3375000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Water & Sewer System RB Fiscal 2021 Series AA1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3615000 | &nbsp;&nbsp; 3615000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Building Aid RB Fiscal 2018 Series S4A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 675394 |
| Building Aid RB Fiscal 2021 Series S1 (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12905000 | &nbsp;&nbsp; 12905000 |
| Future Tax Secured Sub Bonds Fiscal 2014 Series B3 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8450000 | &nbsp;&nbsp; 8450000 |
| Future Tax Secured Sub Bonds Fiscal 2014 Series D3 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10440000 | &nbsp;&nbsp; 10440000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**29**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2015 Series E3 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 16990000 | &nbsp;&nbsp; 16990000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series A1  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2001892 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8490000 | &nbsp;&nbsp; 8490000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 985000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3435000 | &nbsp;&nbsp; 3435000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1785000 | &nbsp;&nbsp; 1785000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Serias A1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 10855000 | &nbsp;&nbsp; 10917795 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series C1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: UBS AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.92% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp; 3330000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7010000 | &nbsp;&nbsp; 7010000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series B (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7605000 | &nbsp;&nbsp; 7605000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2755000 | &nbsp;&nbsp; 2755000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3475000 | &nbsp;&nbsp; 3475000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series F1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2815000 | &nbsp;&nbsp; 2815000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4290000 | &nbsp;&nbsp; 4290000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9815000 | &nbsp;&nbsp; 9815000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: UBS AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8550000 | &nbsp;&nbsp; 8550000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp; 2235000 |

---

*See financial notes*

**30**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 2025 Series H1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12300000 | &nbsp;&nbsp; 12300000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3650000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series I1 & C1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10560000 | &nbsp;&nbsp; 10560000 |
| **New York City Trust for Cultural Resources** |  |  |  |  |  |
| Refunding RB (American Museum of Natural History) Series 2014B1 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(d)* | &nbsp;&nbsp; 1.96% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Refunding RB (American Museum of Natural History) Series 2014B2 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(d)* | &nbsp;&nbsp; 1.95% | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 13100000 | &nbsp;&nbsp; 13100000 |
| **New York Power Auth** |  |  |  |  |  |
| Green Transmission RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK <br> NA)<br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| CP Notes  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 16025000 | &nbsp;&nbsp; 16024785 |
| CP Notes  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes  | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 26175000 | &nbsp;&nbsp; 26175000 |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| RB (Catholic Health System) Series 2019B (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| RB (Columbia Univ) Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7900000 | &nbsp;&nbsp; 7900000 |
| RB (Memorial Sloan-Kettering Cancer Center) Series 20221B <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| RB (Memorial Sloan-Kettering Cancer Center) Series 2025-1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| RB (New York Univ) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1450000 |
| RB (New York Univ) Series 2025A (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13125000 | &nbsp;&nbsp; 13125000 |
| RB (Northwell Health) Series 2022A (**LOC**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6830000 | &nbsp;&nbsp; 6830000 |
| RB (NYU Langone Hospitals) Series 2020A (**LOC**: BANK OF AMERICA <br> NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 705000 |
| RB (The New School) Series 2015A (**ESCROW**)  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13845000 | &nbsp;&nbsp; 13845000 |
| State Personal Income Tax RB Series 2017B (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13280000 | &nbsp;&nbsp; 13280000 |
| State Personal Income Tax RB Series 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**31**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 490000 |
| State Personal Income Tax RB Series 2020A & 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3455000 | &nbsp;&nbsp; 3455000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8870000 | &nbsp;&nbsp; 8870000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2035000 | &nbsp;&nbsp; 2035000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: UBS AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4090000 | &nbsp;&nbsp; 4090000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6305000 | &nbsp;&nbsp; 6305000 |
| State Personal Income Tax RB Series 2025A (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4745000 | &nbsp;&nbsp; 4745000 |
| State Sales Tax RB Series 2018E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| State Sales Tax RB Series 2018E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.94% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23560000 | &nbsp;&nbsp; 23560000 |
| State Sales Tax RB Series 2018E (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp; 2125000 |
| State Sales Tax RB Series 2024A (**LIQ**: UBS AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10610000 | &nbsp;&nbsp; 10610000 |
| **New York State Energy Research & Development Auth** |  |  |  |  |  |
| Facilities RB (Consolidated Edison) Series 2005A3 (**LOC**: MIZUHO BANK <br> LTD)<br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10300000 |
| **New York State Environmental Facilities Corp** |  |  |  |  |  |
| State Revolving Funds RB Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5340000 | &nbsp;&nbsp; 5340000 |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (10 Barclay St) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.70% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| Housing RB (10 Liberty St) Series 2003A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1462000 | &nbsp;&nbsp; 1462000 |
| Housing RB (100 Maiden Lane) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Housing RB (1500 Lexington Ave) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 15100000 |
| Housing RB (160 Madison Ave) Series 2013A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 32975000 | &nbsp;&nbsp; 32975000 |
| Housing RB (316 11th Ave) Series 2007A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Housing RB (316 11th Ave) Series 2009A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Housing RB (360 W 43rd St) Series 2002A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| Housing RB (360 W 43rd St) Series 2003A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp; 12600000 |
| Housing RB (39th St) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 34905000 | &nbsp;&nbsp; 34905000 |

---

*See financial notes*

**32**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 (600 W 42nd Street) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2910000 | &nbsp;&nbsp; 2910000 |
| Housing RB (750 6th Ave) Series 1999A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Housing RB (8 East 102nd St) Series 2010A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7315000 | &nbsp;&nbsp; 7315000 |
| Housing RB (Clinton Green North) Series 2006A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Housing RB (Clinton Green North) Series 2006A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6400000 |
| Housing RB (Clinton Green South) Series 2005A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 2.07% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Housing RB (McCarthy Manor Apts) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4005000 | &nbsp;&nbsp; 4005000 |
| Housing RB (Saville Housing) Series 2002A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3900000 |
| Housing RB (The Helena Apts) Series 2003A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.03% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 19700000 | &nbsp;&nbsp; 19700000 |
| Housing RB (Tribeca Park) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| Housing RB (W. 23rd St.) Series 2001A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Housing RB (West Village Apts) Series 2008A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 196  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 289535 |
| Homeowner Mortgage RB Series 210 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 22590000 | &nbsp;&nbsp; 22590000 |
| Homeowner Mortgage RB Series 223  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99665 |
| Homeowner Mortgage RB Series 223  | &nbsp;&nbsp; 1.85% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148508 |
| Homeowner Mortgage RB Series 232  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 385094 |
| Homeowner Mortgage RB Series 236 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.05% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11885000 | &nbsp;&nbsp; 11885000 |
| Homeowner Mortgage RB Series 258 (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2365000 | &nbsp;&nbsp; 2365000 |
| Homeowner Mortgage RB Series 264 (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1110000 | &nbsp;&nbsp; 1110000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| CP Series 1  | &nbsp;&nbsp; 2.84% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 9354000 | &nbsp;&nbsp; 9354000 |
| CP Series 1  | &nbsp;&nbsp; 2.94% |  | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
| CP Series 1  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| RB Series 2020A (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11290000 | &nbsp;&nbsp; 11290000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**33**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (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 Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1 (**LIQ**: CITIBANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13220000 | &nbsp;&nbsp; 13220000 |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24725000 | &nbsp;&nbsp; 24725000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| **New York State Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2020C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1565000 | &nbsp;&nbsp; 1565000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8895000 | &nbsp;&nbsp; 8895000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| State Personal Income Tax RB Series 2023A (**LIQ**: UBS AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| State Sales Tax RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| State Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **Niskayuna CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5021501 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 14200000 | &nbsp;&nbsp; 14200000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(c)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 60300000 | &nbsp;&nbsp; 60300000 |
| Variable Rate Demand Preferred Shares Series 5 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(c)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4350000 | &nbsp;&nbsp; 4350000 |
| **Onondaga Cnty IDA** |  |  |  |  |  |
| IDRB (G.A. Braun Inc) Series 2007 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3735000 | &nbsp;&nbsp; 3735000 |
| **Oyster Bay-East Norwich CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 23500000 | &nbsp;&nbsp; 23504471 |
| **Penfield Central SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7027333 |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 177th Series (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.99% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Consolidated Bonds 200th Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Consolidated Bonds 209th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 535312 |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3930000 | &nbsp;&nbsp; 3930000 |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1745000 | &nbsp;&nbsp; 1745000 |

---

*See financial notes*

**34**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Consolidated Bonds 221st & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6815000 | &nbsp;&nbsp; 6815000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1310000 | &nbsp;&nbsp; 1310000 |
| Consolidated Bonds 223rd Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250177 |
| Consolidated Bonds 226th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100351 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp; 2760000 |
| Consolidated Bonds 234th Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2130000 |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1020000 | &nbsp;&nbsp; 1020000 |
| Consolidated Bonds 236th Series (**LIQ**: MORGAN STANLEY BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 6670000 | &nbsp;&nbsp; 6670000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.98% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Consolidated Bonds 242nd Series (**LIQ**: CITIBANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Consolidated Bonds 243rd Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 428039 |
| Consolidated Bonds 246th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/01/25 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 170534 |
| Consolidated Bonds 248th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2627722 |
| Consolidated Bonds 248th Series (**LIQ**: DEUTSCHE BANK AG) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2135000 | &nbsp;&nbsp; 2135000 |
| **Ramapo Housing Auth** |  |  |  |  |  |
| RB (Fountainview at College Road) Series 1998 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &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; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp; 1575000 |
| **Rye SD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; 6280530 | &nbsp;&nbsp; 6308157 |
| **Schenectady IDA** |  |  |  |  |  |
| Civic Facility RB (Union Graduate College) Series 2008A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3385000 | &nbsp;&nbsp; 3385000 |
| **Skaneateles CSD** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 8755000 | &nbsp;&nbsp; 8808389 |
| **Southold** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 18354160 | &nbsp;&nbsp; 18395555 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10007465 |
| **Tompkins Cnty** |  |  |  |  |  |
| BAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 9869470 | &nbsp;&nbsp; 9935024 |
| **Tompkins Cnty IDA** |  |  |  |  |  |
| Variable Rate Demand Civic Facility RB Series 2003A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.12% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5660000 | &nbsp;&nbsp; 5660000 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8011511 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub BAN Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18139145 |
| 2nd Sub Revenue BAN Series 2021A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/01/25 | &nbsp;&nbsp; 2535000 | &nbsp;&nbsp; 2553377 |
| General RB Series 2001C (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 585000 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1150000 |
| General RB Series 2005A (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11285000 | &nbsp;&nbsp; 11285000 |
| General RB Series 2008B2  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150410 |
| General RB Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100640 |
| General RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**35**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| General RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3305000 | &nbsp;&nbsp; 3305000 |
| General RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| General RB Series 2021A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
| General RB Series 2021A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 10365000 | &nbsp;&nbsp; 10365000 |
| General RB Series 2022A 2023B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8225000 | &nbsp;&nbsp; 8225000 |
| General RB Series 2023B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 24975000 | &nbsp;&nbsp; 24975000 |
| General RB Series 2023B1 & 2020A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3120000 | &nbsp;&nbsp; 3120000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6780000 | &nbsp;&nbsp; 6780000 |
| General Refunding RB Series 2005B4A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp; 3020000 |
| General Refunding RB Series 2018B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110546 |
| General Refunding RB Series 2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150960 |
| Payroll Mobility Tax Sr Lien Bond Series 2021A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11465000 | &nbsp;&nbsp; 11465000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2021B1 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3875000 | &nbsp;&nbsp; 3875000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A, 2021C1A & 2021C3 <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.97% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8387000 | &nbsp;&nbsp; 8387000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp; 1040000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 8610000 | &nbsp;&nbsp; 8610000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4555000 | &nbsp;&nbsp; 4555000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4840000 | &nbsp;&nbsp; 4840000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2024B1 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 5060000 | &nbsp;&nbsp; 5060000 |
| Payroll Mobility Tax Sr Lien Refunding RB Series 2023C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4025000 | &nbsp;&nbsp; 4025000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2021A1 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 20380000 | &nbsp;&nbsp; 20380000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| Sales Tax RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(c)(d)(e)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| Sales Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.96% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Sales Tax RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23290000 | &nbsp;&nbsp; 23290000 |
| Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 11835000 | &nbsp;&nbsp; 11835000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 23715000 | &nbsp;&nbsp; 23715000 |

---

*See financial notes*

**36**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sales Tax RB Series 2023A & 2022A & 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2265000 | &nbsp;&nbsp; 2265000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(c)(d)(e)* | &nbsp;&nbsp; 1.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16185000 | &nbsp;&nbsp; 16185000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16035531 |
| **Vestal CSD** |  |  |  |  |  |
| GO BAN 2024A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14506342 |
| GO BAN 2024B  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 2143800 | &nbsp;&nbsp; 2147806 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4003869 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 495000 |
| **Webster** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400365 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2025A | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5031917 |
|  |  |  |  |  | &nbsp;&nbsp; **2898812429** |
| **Total Municipal Securities** <br>**(Cost $2,899,692,429)** | **Total Municipal Securities** <br>**(Cost $2,899,692,429)** | **Total Municipal Securities** <br>**(Cost $2,899,692,429)** | **Total Municipal Securities** <br>**(Cost $2,899,692,429)** | **Total Municipal Securities** <br>**(Cost $2,899,692,429)** | &nbsp;&nbsp; **2899692429** |
| **Total Investments in Securities** <br>**(Cost $2,899,692,429)** | **Total Investments in Securities** <br>**(Cost $2,899,692,429)** | **Total Investments in Securities** <br>**(Cost $2,899,692,429)** | **Total Investments in Securities** <br>**(Cost $2,899,692,429)** | **Total Investments in Securities** <br>**(Cost $2,899,692,429)** | &nbsp;&nbsp; **2899692429** |

---

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

&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 $1,360,622,000 or 47.0% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(e)* 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>|
| TOB — | Tender option bond |
| UFSD — | Union free school district |
| VRDN — | Variable rate demand note |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**37**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

At June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

**38**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $2899692429 |
| Cash |  | 5492 |
| Receivables: |  |  |
| Fund shares sold |  | 16272857 |
| Interest |  | 14996287 |
| Prepaid expenses | + | 92481 |
| **Total assets** |  | **2931059546** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought - delayed-delivery |  | 21256295 |
| Fund shares redeemed |  | 10967300 |
| Distributions to shareholders |  | 1215435 |
| Investment adviser and administrator fees |  | 403858 |
| Shareholder service fees |  | 22089 |
| Accrued expenses | + | 64197 |
| **Total liabilities** |  | **33929174** |
| **Net assets** |  | **$2897130372** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $2897045800 |
| Total distributable earnings | + | 84572 |
| **Net assets** |  | **$2897130372** |

---

&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 | $1072927034 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1072719272 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $1824203338 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1823838960 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**39**

------

Schwab New York Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$39375898** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 2660394 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 787921 |
| Registration fees |  | 56609 |
| Portfolio accounting fees |  | 52739 |
| Independent trustees' fees |  | 24577 |
| Professional fees |  | 18396 |
| Shareholder reports |  | 5167 |
| Custodian fees |  | 4796 |
| Transfer agent fees  |  | 625 |
| Other expenses | + | 10117 |
| **Total expenses** |  | **3621341** |
| Expense reduction | – | 171296 |
| **Net expenses** | – | **3450045** |
| **Net investment income** |  | **35925853** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **84572** |
| **Increase in net assets resulting from operations** |  | **$36010425** |

---

*See financial notes*

**40**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab New York Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $35925853 | &nbsp;&nbsp;&nbsp; $77897964 |
| Net realized gains | + | 84572 | &nbsp;&nbsp;&nbsp; 108928 |
| **Increase in net assets from operations** |  | **$36010425** | &nbsp;&nbsp;&nbsp; **$78006892** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($13011323)<br>| &nbsp;&nbsp;&nbsp; ($29518677)<br>|
| Ultra Shares | + | (22914530)<br>| &nbsp;&nbsp;&nbsp; (48449872)<br>|
| **Total distributions** |  | **($35925853)**<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 |  | 794337188 | &nbsp;&nbsp;&nbsp; 1290573712 |
| Ultra Shares | + | 1547976140 | &nbsp;&nbsp;&nbsp; 2487149695 |
| **Total shares sold** |  | **2342313328** | &nbsp;&nbsp;&nbsp; **3777723407** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 10297675 | &nbsp;&nbsp;&nbsp; 23280795 |
| Ultra Shares | + | 17534585 | &nbsp;&nbsp;&nbsp; 36261426 |
| **Total shares reinvested** |  | **27832260** | &nbsp;&nbsp;&nbsp; **59542221** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (785881111)<br>| &nbsp;&nbsp;&nbsp; (1248669663)<br>|
| Ultra Shares | + | (1589762734)<br>| &nbsp;&nbsp;&nbsp; (2069533249)<br>|
| **Total shares redeemed** |  | **(2375643845)**<br>| &nbsp;&nbsp;&nbsp; **(3318202912)**<br>|
| **Net transactions in fund shares** |  | **(5498257)**<br>| &nbsp;&nbsp;&nbsp; **519062716** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $2902544057 | &nbsp;&nbsp;&nbsp; $2383442998 |
| Total increase (decrease) | + | (5413685)<br>| &nbsp;&nbsp;&nbsp; 519101059 |
| **End of period** |  | **$2897130372** | &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 \| Semiannual Holdings and Financial Statements

**41**

------

Schwab Municipal Money Funds

Financial Notes, unaudited

------

&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 California Municipal Money Fund** | Schwab Prime Advantage Money Fund |
| **Schwab New York Municipal Money Fund** | Schwab Retirement Government Money Fund |
| Schwab Government Money Fund | Schwab Municipal Money Fund |
| Schwab U.S. Treasury Money Fund | Schwab AMT Tax-Free Money Fund |
| Schwab Treasury Obligations 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 (NAV), 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 (the Board) 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 "Fund 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 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 has designated authority to a Valuation Designee, the funds' investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities 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.

**42**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes, unaudited (continued)

------

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

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

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 (ETFs) and futures contracts. Mutual funds and ETFs are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2 or Level 3 in the fair value hierarchy.

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

As disclosed in the Portfolio Holdings, as of June 30, 2025, each of the fund's investments were classified as Level 2.

**(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 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.

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**43**

------

Schwab Municipal Money Funds

Financial Notes, unaudited (continued)

------

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

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

**(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 trusts generally are allocated among those funds in proportion to their average daily net assets.

For funds offering 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:**

The funds declare distributions from net investment income, if any, every day they are 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 of the fund's financial statements.

**44**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes, unaudited (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.

**(k) Recent Accounting Pronouncements:**

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and with early adoption permitted. At this time, management is evaluating the impact of this amendment but believes it will not have a material impact on the financial statements and income tax disclosures.

------

**3. Credit and Liquidity Enhancements:**

A substantial portion of each 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 provide liquidity for 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> 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 liquidity <br> enhancements<br>| 74<br> %<br>| &nbsp;&nbsp; 80<br> %<br>|
| % of total assets in securities with credit enhancements or liquidity <br> enhancements 10% or greater from a single institution<br>| 13 %<br>| &nbsp;&nbsp; 11 %<br>|
|  | (Bank of America NA) | (JPMorgan Chase Bank 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 an Investment Advisory and Administration Agreement between the investment advisor 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 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.

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**45**

------

Schwab Municipal Money Funds

Financial Notes, unaudited (continued)

------

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

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

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 the fund shares owned by shareholders holding shares through such service providers.

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 |

---

**Contractual Expense Limitation**

The investment adviser and its affiliates have made an additional agreement with each fund, 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, to limit the total annual fund operating expenses charged, excluding interest, taxes, and certain non-routine expenses (expense limitation) as follows:

---

| | | |
|:---|:---|:---|
|  | 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>|
| Ultra Shares | 0.19<br> %<br>| 0.19<br> %<br>|

---

**Interfund Transactions**

The funds may engage in direct transactions with certain other funds in the Fund Complex in accordance with procedures adopted by the Board 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 are recorded in Net realized gains (losses) on sales of securities — unaffiliated issuers in the Statement of Operations. For the period ended June 30, 2025, each fund's purchases and sales of securities with other funds in the Fund Complex as well as any net realized gains (losses) were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | PURCHASE COST | SALE PROCEEDS | NET REALIZED GAINS (LOSSES) |
| Schwab California Municipal Money Fund | $199292196 | &nbsp;&nbsp; $48411181 | &nbsp;&nbsp; $0 |
| Schwab New York Municipal Money Fund | 3708992 | &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 Fund 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. The funds had no interfund borrowing or lending activity during the period.

------

**5. Board of Trustees:**

The Board 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.

**46**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Financial Notes, unaudited (continued)

------

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

**6. Borrowing from Banks:**

During the period, the funds were participants with other funds in the Fund Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), maturing on September 25, 2025. 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 Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, maturing on September 25, 2025. 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 June 30, 2025, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab California Municipal Money Fund | $9336347277 |
| Schwab New York Municipal Money Fund | 2899692429 |

---

As of December 31, 2024, 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 and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2025. The tax basis components of distributions paid during the fiscal year ended December 31, 2024 were as follows:

---

| | | |
|:---|:---|:---|
|  | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME <br>|
| Schwab California Municipal Money Fund | $246358954 | &nbsp;&nbsp; $279143 |
| Schwab New York Municipal Money Fund | 77884885 | &nbsp;&nbsp; 83664 |

---

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.

As of December 31, 2024, 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. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in each fund's Statement of Operations. During the fiscal year ended December 31, 2024, 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.

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**47**

------

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

------

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

Not applicable.

**48**Schwab Municipal Money Funds \| Semiannual 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 \| Semiannual Holdings and Financial Statements

**49**

------

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).

**50**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Funds

Investment Advisory Agreement Approval

------

The Investment Company Act of 1940, as amended (the 1940 Act), requires that the continuation of a fund's investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or "interested persons" of any party thereto (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund's trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory and administration agreement (the Agreement) between The Charles Schwab Family of Funds (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab California Municipal Money Fund and Schwab New York Municipal Money Fund (the Funds), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser's affiliates, personnel, business goals and priorities, profitability, oversight of third-party service providers, corporate structure and operations. As part of the renewal process, the Independent Trustees' legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to the Funds' operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees' legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and answer

sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.

The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance of the Agreement with respect to the Funds at meetings held on May 7, 2025 and June 5, 2025, and approved the renewal of the Agreement with respect to the Funds for an additional one-year term at the meeting on June 5, 2025 called for the purpose of voting on such approval.

The Board's approval of the continuance of the Agreement with respect to the Funds was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:

1. the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds;

2. each Fund's investment performance and how it compared to that of certain other comparable mutual funds and benchmark data;

3. each Fund's expenses and how those expenses compared to those of certain other similar mutual funds;

4. the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and

5. the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, the investment adviser's experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Funds' portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, and vendor and risk oversight. The Trustees also considered the investment adviser's continued investment in its infrastructure, including the investment adviser's

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**51**

------

Schwab Municipal Money Funds

technology and use of data, business continuity, cybersecurity, due diligence, risk management processes, and information security programs. The Trustees considered Schwab's overall financial condition and reputation as a full service brokerage firm, as well as the wide range of products, services, and account features that benefit Fund shareholders who are brokerage clients of Schwab. Following such evaluation, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds supported renewal of the Agreement with respect to the Funds.

**Fund Performance.** The Board considered each Fund's performance in determining whether to renew the Agreement with respect to such Fund. Specifically, the Trustees considered each Fund's performance relative to a peer category of other mutual funds and applicable indices/benchmarks, in light of portfolio yield and the market environment, as well as in consideration of each Fund's investment style and strategy. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of each Fund, the Trustees considered the risk profile for such Fund and such Fund's operation as a money market fund within the meaning of Rule 2a-7 under the 1940 Act. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser's profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Following such evaluation, the Board concluded, within the context of its full deliberations, that the performance of such Fund supported renewal of the Agreement with respect to such Fund.

**Fund Expenses.** With respect to each Fund's expenses, the Trustees considered the rate of compensation called for by the Agreement and each Fund's net operating expense ratio, in each case, in comparison to those of other similar mutual funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Funds and provision of services as well as the competitive marketplace for financial products. The Trustees considered the effects of the investment adviser and its affiliates practice of waiving certain fees to prevent total annual operating expenses of the Funds from exceeding a specified cap. The Trustee's also considered the investment adviser's contractual commitment to limit the total annual operating expenses of the Funds for so long as the investment adviser serves as the adviser to the Funds, as well as historically using voluntary waivers (which the investment adviser will not recoup) to maintain a certain yield. The

Trustees also considered fees charged by the investment adviser to other mutual funds that it manages. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of such Fund are reasonable and supported renewal of the Agreement with respect to such Fund.

**Profitability.** The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. The Trustees reviewed profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund shareholders of being part of the Schwab fund complex, including the allocations of certain costs across the Funds and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Funds, such as whether, by virtue of its management of the Funds, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Funds under the Agreement and other service agreements were reasonable in light of the quality of all services rendered to the Funds by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Funds. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to such Fund.

**Economies of Scale.** Although the Trustees recognized the difficulty of determining economies of scale with precision, the Trustees considered the potential existence of any economies of scale and whether those are passed along to a Fund's shareholders through (i) the enhancement of services provided to the Funds in return for fees paid, including through the investment adviser's continued investment in its infrastructure and use of data and technology, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Funds and their shareholders; (ii) fee waivers or expense caps by the investment adviser and its affiliates for those funds in the Schwab fund complex with such features; and (ii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees considered that the investment adviser and its affiliates may employ contractual expense caps to protect shareholders from higher fees when fund assets are relatively small, for example, in the case of newer funds or funds with investment strategies that are from time to time out of favor, because, among other reasons, shareholders may benefit from the continued availability of such funds at

**52**Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

------

Schwab Municipal Money Funds

subsidized expense levels. Based on this evaluation, the Board concluded, within the context of its full deliberations, that each Fund obtains reasonable benefits from economies of scale.

\* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*

In the course of their deliberations, the Trustees may have accorded different weights to various factors and did not identify any particular information or factor that was all important or controlling. Based on the Trustees' deliberation

and their evaluation of the information described above, the Board, including all of the Independent Trustees, approved the continuation of the Agreement with respect to the Funds and concluded that the compensation under the Agreement with respect to the Funds is fair and reasonable in light of the services provided and the related expenses borne by the investment adviser and its affiliates and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

Schwab Municipal Money Funds \| Semiannual Holdings and Financial Statements

**53**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g20942imge3608d351.jpg)

MFR13603-29

00315735

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g199438imgc15e734c1.jpg)

**Semiannual Holdings and Financial Statements** \| June 30, 2025

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_56acd116-6447-420f-8a37-24d998ef715d_1)**<br> **[Management Investment Companies](#xx_56acd116-6447-420f-8a37-24d998ef715d_1)** <br>|  |
| [Financial Statements and Portfolio Holdings](#xx_56acd116-6447-420f-8a37-24d998ef715d_1) | 2 |
| [Financial Notes](#xx_dc3320aa-05a3-415f-a717-7bd117460833_1) | 17 |
| **[Item 8 – Changes in and Disagreements with Accountants for Open-End](#xx_9cad5f2a-abcd-4464-9c79-3faf4ef6f68d_1)**<br> **[Management Investment Companies](#xx_9cad5f2a-abcd-4464-9c79-3faf4ef6f68d_1)**<br>| 22 |
| **[Item 9 – Proxy Disclosures for Open-End Management Investment](#xx_292076ea-54bd-4871-85cc-7f8775b23be0_1)**<br> **[Companies](#xx_292076ea-54bd-4871-85cc-7f8775b23be0_1)**<br>| 23 |
| **[Item 10 - Remuneration Paid to Directors, Officers, and Others of Open-End](#xx_b25f4861-fc42-4983-a4af-a66e83efefbf_1)**<br> **[Management Investment Companies](#xx_b25f4861-fc42-4983-a4af-a66e83efefbf_1)**<br>| 24 |
| **[Item 11 - Statement Regarding Basis for Approval of Investment Advisory](#xx_5ac29845-d7cd-4a8b-927e-0e41e3f048a8_1)**<br> **[Contract](#xx_5ac29845-d7cd-4a8b-927e-0e41e3f048a8_1)** <br>|  |
| [Investment Advisory Agreement Approval](#xx_5ac29845-d7cd-4a8b-927e-0e41e3f048a8_1) | 25  |

---

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

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

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**1**

------

Schwab Retirement Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 1/1/25– <br>6/30/25\*<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>| 1/1/20– <br>12/31/20<br>|
| **Per-Share Data** | **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 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 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>| 0.00 <br><sup>2</sup><br>|
| Total from investment operations | 0.02 | 0.05 | 0.05 | 0.01 | 0.00 <br><sup>2</sup><br>| 0.00 <br><sup>2</sup><br>|
| Less distributions: |  |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Distributions from net realized gains  | &nbsp;&nbsp; — | &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; (0.05)<br>| &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><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 | &nbsp;&nbsp; $1.00 |
| Total return | 2.11 %<sup>3</sup><br>| 5.14<br> %<br>| 4.97<br> %<br>| 1.47<br> %<br>| 0.01<br> %<br>| 0.40<br> %<br>|
| **Ratios/Supplemental Data** | **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 %<sup>4</sup><br>| 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>5,6</sup><br>| 0.07 %<sup>6</sup><br>| 0.18 %<sup>6</sup><br>|
| Total expenses | 0.21 %<sup>4</sup><br>| 0.21<br> %<br>| 0.21<br> %<br>| 0.21 %<sup>5</sup><br>| 0.21<br> %<br>| 0.31<br> %<br>|
| Net investment income (loss) | 4.22 %<sup>4</sup><br>| 5.01<br> %<br>| 4.87<br> %<br>| 1.50<br> %<br>| 0.01<br> %<br>| 0.38<br> %<br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2480 | &nbsp;&nbsp; $2184 | &nbsp;&nbsp; $1947 | &nbsp;&nbsp; $1661 | &nbsp;&nbsp; $1610 | &nbsp;&nbsp; $1804 |

---

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

\* Unaudited.

<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> Not annualized.

<sup>4</sup> Annualized.

<sup>5</sup> Ratio includes less than 0.005% of non-routine proxy expenses.

<sup>6</sup> Reflects the effect of a voluntary yield waiver in excess of the contractual expense limitation.

*See financial notes*

**2**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited)

------

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** 29.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 29.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 29.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 29.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 29.8% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 29.8% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000037 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
|  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699565 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1499900 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 896921 |
| <br>*(b)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1492945 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1999712 |
| <br>*(b)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2087663 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1699682 |
| <br>(EFFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| <br>(EFFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(EFFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| <br>*(b)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 10/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 989693 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600623 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4108657 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 701632 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000564 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300354 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>*(b)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 981814 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>*(b)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1176760 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(EFFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 6300000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000184 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/04/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1458590 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 03/09/26 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 781331 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1457412 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/23/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**3**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/23/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3411492 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 07/02/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/02/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/21/27 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/03/27 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/12/27 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/18/27 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/11/27 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/01/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/16/27 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/19/27 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
| <br>(SOFR + 0.00%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| <br>*(b)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7194972 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200080 |
| <br>*(b)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5893272 |
| <br>*(b)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 998853 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6400000 |
| <br>*(b)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2994407 |
| <br>*(b)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4890374 |
| <br>*(b)* | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 698028 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| <br>*(b)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 10200000 | &nbsp;&nbsp; 10164555 |
| <br>*(b)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2887733 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3599927 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>*(b)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5770094 |
| <br>*(b)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7063568 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/18/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900060 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |

---

*See financial notes*

**4**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5862457 |
| <br>*(b)* | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5861545 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1399024 |
| <br>*(b)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5760980 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| <br>*(b)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3570180 |
| <br>*(b)* | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 694109 |
| <br>*(b)* | &nbsp;&nbsp; 4.19% |  | &nbsp;&nbsp; 09/17/25 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6145259 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>*(b)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4351274 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6900000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/17/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| <br>*(b)* | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4337373 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/12/25 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6598011 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/12/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/22/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 02/09/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 02/17/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 02/24/26 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 684998 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 02/25/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| <br>*(b)* | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 02/26/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7103143 |
|  | &nbsp;&nbsp; 0.96% |  | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 979489 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 03/06/26 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
|  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 03/17/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 03/27/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/06/26 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 04/27/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/28/26 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 05/28/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 8100000 | &nbsp;&nbsp; 8100000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 06/02/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 06/05/26 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1103549 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 06/12/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>*(b)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 06/16/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 480750 |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**5**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 07/24/26 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/24/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/21/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; 7300000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/28/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2899790 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/25/27 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/04/27 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/10/27 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/25/27 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/09/27 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6783971 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2198446 |
|  | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699464 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 14978238 |
|  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 890938 |
| <br>*(b)* | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 11/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7388738 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3900000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/23/27 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 696263 |
|  | &nbsp;&nbsp; 0.54% |  | &nbsp;&nbsp; 10/27/25 | &nbsp;&nbsp; 5380000 | &nbsp;&nbsp; 5316502 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900345 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $738,286,290)**<br>|  |  |  |  | &nbsp;&nbsp; **738286290** |

---

*See financial notes*

**6**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. TREASURY DEBT** 6.1% OF NET ASSETS | **U.S. TREASURY DEBT** 6.1% OF NET ASSETS | **U.S. TREASURY DEBT** 6.1% OF NET ASSETS | **U.S. TREASURY DEBT** 6.1% OF NET ASSETS | **U.S. TREASURY DEBT** 6.1% OF NET ASSETS | **U.S. TREASURY DEBT** 6.1% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1488952 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8760201 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2305345 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 12800000 | &nbsp;&nbsp; 12558214 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7341155 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 13800000 | &nbsp;&nbsp; 13799307 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3193565 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3716934 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2279034 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000237 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12407907 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3640886 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/26 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1397939 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 02/28/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2344838 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/15/26 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4208357 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/31/26 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5415212 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2334066 |
|  | &nbsp;&nbsp; 2.38% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4433916 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500026 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp; 6939417 |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1076213 |
|  | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8360443 |
|  | &nbsp;&nbsp; 0.75% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2617412 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 05/31/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2518927 |
|  | &nbsp;&nbsp; 0.88% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8232251 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3014834 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3499840 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2503349 |
| <br>(3 mo. US TBILL + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.34% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 01/31/27 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5198922 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 04/30/27 | &nbsp;&nbsp; 13700000 | &nbsp;&nbsp; 13703670 |
| **Total U.S. Treasury Debt** <br>**(Cost $151,791,369)**<br>|  |  |  |  | &nbsp;&nbsp; **151791369** |
| **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 |
| **BRIDGE WF II PARKWAY CLUB LLC** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB SERIES 2021A (**LOC**: FEDERAL HOME <br> LOAN BANKS) <br>*(c)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &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; 4.45% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $7,300,000)**<br>|  |  |  |  | &nbsp;&nbsp; **7300000** |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**7**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

&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** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS | **REPURCHASE AGREEMENTS** 64.4% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 37.0%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 4000489 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $4,119,999, 4.38% - 5.00%, due 07/15/27 - <br> 01/01/53)<br>|  |  |  |  |  |  |
| **BANK OF AMERICA NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000122 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,088, <br> 4.88%, due 05/31/26)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000122 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,125, 5.96%, due 05/20/72)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000611 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $5,150,629, 1.50% - 6.50%, due 12/01/27 - 08/20/49)<br>|  |  |  |  |  |  |
| Issued 06/05/25, repurchase date 07/07/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 59226560 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $61,003,357, 1.50% - 6.90%, due 11/15/26 - 01/15/67)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000611 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $5,242,272, 1.50% - 6.50%, due 11/30/29 - <br> 06/01/55)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14001711 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $14,336,721, 0.75% - 5.70%, due <br> 07/15/30 - 04/20/70)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15001833 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $15,376,321, 2.75% - 5.20%, due <br> 08/15/42 - 03/20/73)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000367 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $3,090,012, 1.54% - 7.00%, due 11/15/25 - <br> 04/01/55)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1300159 | &nbsp;&nbsp; 1300000 |
| (Collateralized by U.S. Treasury Securities valued at $1,326,220, <br> 0.75% - 4.88%, due 05/15/26 - 06/30/26)<br>|  |  |  |  |  |  |
| Issued 05/29/25, repurchase date 08/27/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp; 7076825 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $7,350,335, 2.50% - 3.50%, due 03/25/58 - 11/25/61)<br>|  |  |  |  |  |  |

---

*See financial notes*

**8**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000122 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,050,129, 1.25%, due 12/25/30)<br>|  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14001711 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $14,541,102, 3.00% - 7.00%, due 07/16/26 - 06/01/55)<br>|  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 41005023 | &nbsp;&nbsp; 41000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $42,229,578, 2.00% - 7.00%, due <br> 07/01/29 - 12/01/62)<br>|  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 28003422 | &nbsp;&nbsp; 28000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $28,566,857, 2.50% - 6.50%, due 09/15/33 - 03/20/55)<br>|  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 58048946 | &nbsp;&nbsp; 58000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $59,577,950, 2.25% - 6.50%, due 02/16/40 - 05/16/57)<br>|  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 89064970 | &nbsp;&nbsp; 89000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $90,874,659, 1.50% - 6.50%, due 08/01/30 - 01/16/65)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 1000122 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,001, 6.50%, due 05/20/55)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 49005989 | &nbsp;&nbsp; 49000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $50,470,001, 2.00% - 7.50%, due 08/01/30 - 02/20/65)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 55006722 | &nbsp;&nbsp; 55000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $56,650,001, 2.00% - 7.50%, due 12/20/29 - 05/20/65)<br>|  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000611 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $5,150,001, 4.72% - 6.00%, due 03/15/37 - 11/25/53)<br>|  |  |  |  |  |
| Issued 04/14/25, repurchase date 10/21/25<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 15325367 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,450,001, 2.50% - 5.46%, due 12/25/49 - 12/25/54) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 05/05/25, repurchase date 11/10/25<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 37704583 | &nbsp;&nbsp; 37000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $38,110,002, 5.00%, due 05/20/55) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 7000856 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Treasury Securities valued at $7,140,079, <br> 4.45%, due 10/31/26)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**9**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000367 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $3,090,957, 2.50% - 7.04%, due 01/01/30 - 03/01/50)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13001589 | &nbsp;&nbsp; 13000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $13,337,936, 1.88% - 6.50%, due <br> 09/15/27 - 05/20/55)<br>|  |  |  |  |  |  |
| Issued 06/20/25, repurchase date 07/31/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 59120081 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $61,014,069, 0.13% - 7.00%, due <br> 11/15/26 - 05/20/55)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/18/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 47333530 | &nbsp;&nbsp; 47000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $48,343,685, 2.25% - 7.50%, due <br> 11/30/26 - 06/20/54)<br>|  |  |  |  |  |  |
| Issued 05/23/25, repurchase date 07/21/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 16086600 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $16,596,948, 2.00% - 6.00%, due 08/01/42 - 05/01/55)<br>|  |  |  |  |  |  |
| Issued 05/09/25, repurchase date 07/18/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 74525133 | &nbsp;&nbsp; 74000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $76,861,730, 2.00% - 6.06%, due 08/01/42 - 05/01/55)<br>|  |  |  |  |  |  |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000978 | &nbsp;&nbsp; 8000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $8,239,973, 2.00% - 7.00%, due 05/15/43 - <br> 06/01/55)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11001344 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $11,330,000, 2.00%, due 10/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO BANK NA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 54006600 | &nbsp;&nbsp; 54000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $55,940,948, 0.13% - 6.00%, due <br> 04/15/30 - 05/01/55)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 14011842 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $14,567,034, 0.13% - 6.50%, due <br> 02/01/29 - 03/01/55)<br>|  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 44032193 | &nbsp;&nbsp; 44000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $46,082,205, 0.13% - 6.50%, due <br> 11/01/46 - 06/01/55)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/27/25, repurchase date 07/03/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/03/25 | &nbsp;&nbsp; 59043168 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $61,404,895, 2.00% - 7.00%, due 06/01/30 - 05/01/56)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **917300000** |

---

*See financial notes*

**10**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** | **U.S. TREASURY REPURCHASE AGREEMENTS 27.4%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 13001585 | &nbsp;&nbsp; 13000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $13,260,008, 0.13% - 4.13%, due 11/30/26 - 02/15/51)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 11001344 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $11,220,000, 0.38% - 4.38%, due 08/31/27 - 02/28/29)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000610 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury Securities valued at $5,100,662, <br> 0.00% - 1.63%, due 07/10/25 - 05/15/31)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2297833 | &nbsp;&nbsp; 2297553 |
| (Collateralized by U.S. Treasury Securities valued at $2,343,812, <br> 0.00% - 4.50%, due 07/10/25 - 11/15/54)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10001219 | &nbsp;&nbsp; 10000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $10,201,313, 1.88% - 4.50%, due 10/15/27 - 11/15/54)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 15001829 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $15,300,012, 1.50% - 5.00%, due 05/15/45 - 02/15/53)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000976 | &nbsp;&nbsp; 8000000 |
| (Collateralized by U.S. Treasury Securities valued at $8,160,054, <br> 0.38% - 4.88%, due 11/15/25 - 05/15/50)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 37004512 | &nbsp;&nbsp; 37000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $37,753,861, 1.38% - 4.38%, due 11/30/28 - 01/31/29)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 3000366 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,060,410, <br> 1.50%, due 11/30/28)<br>|  |  |  |  |  |  |
| Issued 06/25/25, repurchase date 07/02/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 15012629 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $15,312,902, 3.50%, due 01/31/28)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 2000244 | &nbsp;&nbsp; 2000000 |
| (Collateralized by U.S. Treasury Securities valued at $2,040,009, <br> 0.00%, due 05/14/26)<br>|  |  |  |  |  |  |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 5000611 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury Securities valued at $5,100,705, <br> 0.00%, due 12/18/25)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**11**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 171020188 | &nbsp;&nbsp; 171000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $171,020,189, 0.63%, due 05/15/30)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 63007700 | &nbsp;&nbsp; 63000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $64,260,031, 2.00%, due 11/15/41)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 47005744 | &nbsp;&nbsp; 47000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $47,940,037, 1.63%, due 05/15/31)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 21002567 | &nbsp;&nbsp; 21000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $21,420,117, 4.25%, due 06/30/31)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 17002073 | &nbsp;&nbsp; 17000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $17,340,073, 4.63%, due 05/15/44)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 59007195 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $60,180,082, 0.00% - 3.75%, due 06/11/26 - 06/30/27)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 59007195 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $60,180,001, 0.00% - 3.75%, due 12/11/25 - 06/30/27)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 26003171 | &nbsp;&nbsp; 26000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $26,520,024, 2.38% - 4.38%, due 03/31/29 - 02/15/38)<br>|  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 59007195 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $60,180,013, 1.75%, due 11/15/29)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 8000976 | &nbsp;&nbsp; 8000000 |
| (Collateralized by U.S. Treasury Securities valued at $8,160,019, <br> 1.88%, due 02/15/51)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 14001707 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $14,281,789, 0.13% - 4.25%, due 07/15/26 - 02/15/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

**12**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of June 30, 2025 (Unaudited) (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **SMBC NIKKO SECURITIES AMERICA INC** |  |  |  |  |  |  |
| Issued 06/30/25, repurchase date 07/01/25 |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10001219 | &nbsp;&nbsp; 10000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $10,200,012, 0.50% - 4.13%, due 06/30/26 - 11/15/50)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **680297553** |
| **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | **Total Repurchase Agreements** <br>**(Cost $1,597,597,553)** | &nbsp;&nbsp; **1597597553** |
| **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | **Total Investments in Securities** <br>**(Cost $2,494,975,212)** | &nbsp;&nbsp; **2494975212** |

---

&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 June 30, 2025, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments into

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

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**13**

------

Schwab Retirement Government Money Fund

Statement of Assets and Liabilities

------

As of June 30, 2025; unaudited

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $897377659 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 1597597553 |
| Cash |  | 617 |
| Receivables: |  |  |
| Interest |  | 6897608 |
| Fund shares sold |  | 1593437 |
| Prepaid expenses | + | 48117 |
| **Total assets** |  | **2503514991** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 14920886 |
| Distributions to shareholders |  | 4957471 |
| Fund shares redeemed |  | 2751156 |
| Investment adviser and administrator fees |  | 339160 |
| Accrued expenses | + | 94552 |
| **Total liabilities** |  | **23063225** |
| **Net assets** |  | **$2480451766** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $2480439094 |
| Total distributable earnings | + | 12672 |
| **Net assets** |  | **$2480451766** |

---

&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** |
| $2480451766 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2480436354 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

**14**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited | For the period January 1, 2025 through June 30, 2025; unaudited |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$50482522** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 2175865 |
| Portfolio accounting fees |  | 48786 |
| Registration fees |  | 38376 |
| Custodian fees |  | 35734 |
| Independent trustees' fees |  | 24367 |
| Professional fees |  | 20669 |
| Shareholder reports |  | 849 |
| Transfer agent fees  |  | 611 |
| Other expenses | + | 6520 |
| **Total expenses** |  | **2351777** |
| Expense reduction | – | 175912 |
| **Net expenses** | – | **2175865** |
| **Net investment income** |  | **48306657** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **12055** |
| **Increase in net assets resulting from operations** |  | **$48318712** |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**15**

------

Schwab Retirement Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

Figures for the current period are unaudited

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/25-6/30/25 | 1/1/25-6/30/25 | 1/1/24-12/31/24 |
| Net investment income |  | $48306657 | &nbsp;&nbsp;&nbsp; $104111260 |
| Net realized gains | + | 12055 | &nbsp;&nbsp;&nbsp; 13640 |
| **Increase in net assets from operations** |  | **$48318712** | &nbsp;&nbsp;&nbsp; **$104124900** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| **Total distributions** |  | **($48306040)**<br>| &nbsp;&nbsp;&nbsp; **($104124380)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| Shares sold |  | 903098685 | &nbsp;&nbsp;&nbsp; 645166474 |
| Shares reinvested |  | 18392756 | &nbsp;&nbsp;&nbsp; 38296448 |
| Shares redeemed | + | (624649967)<br>| &nbsp;&nbsp;&nbsp; (447007985)<br>|
| **Net transactions in fund shares** |  | **296841474** | &nbsp;&nbsp;&nbsp; **236454937** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $2183597620 | &nbsp;&nbsp;&nbsp; $1947142163 |
| Total increase  | + | 296854146 | &nbsp;&nbsp;&nbsp; 236455457 |
| **End of period** |  | **$2480451766** | &nbsp;&nbsp;&nbsp; **$2183597620** |

---

&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*

**16**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Financial Notes, unaudited

------

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

The fund 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 fund discussed in this report, which is highlighted:

---

| | |
|:---|:---|
| **THE CHARLES SCHWAB FAMILY OF FUNDS** | **THE CHARLES SCHWAB FAMILY OF FUNDS** |
| **Schwab Retirement Government 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 Prime Advantage Money Fund |  |

---

The fund offers one share class.

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

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

**Investment Objective** 

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.

------

**2. Significant Accounting Policies:**

The following is a summary of the significant accounting policies the fund uses in its preparation of financial statements. The fund follows 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 has designated authority to a Valuation Designee, the fund's investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities in the fund 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.

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**17**

------

Schwab Retirement Government Money Fund

Financial Notes, unaudited (continued)

------

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

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

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

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

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

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

As disclosed in the Portfolio Holdings, as of June 30, 2025, all of the fund's investments were classified as Level 2.

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

**Repurchase Agreements:** In a repurchase agreement, the 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 fund mitigates this risk by ensuring that a fund's repurchase agreements are collateralized by cash and/or U.S. government securities. All collateral is held by the fund's 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 June 30, 2025, the fund had investments in repurchase agreements with a value of $1,597,597,553 as disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities. The value of the related collateral disclosed in the Portfolio Holdings exceeded the value of the repurchase agreements at period end.

**Delayed-Delivery Transactions and When-Issued Securities:** The fund 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

**18**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Financial Notes, unaudited (continued)

------

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

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

negotiated. The securities purchased on a delayed-delivery or when-issued basis are identified as such in the fund's Portfolio Holdings, if any. The fund 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. The 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) the 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 fund.

**(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 the 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 the fund are charged directly to the fund. Expenses that are common to more than one fund in the trusts generally are allocated among those funds in proportion to their average daily net assets.

**(f) Distributions to Shareholders:**

The fund declares distributions from net investment income, if any, every day it is open for business. These distributions, which are substantially equal to the fund's net investment income for that day, are paid out to shareholders once a month. The fund makes 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 fund intends to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the fund distributes substantially all of its net investment income and net realized capital gains, if any, to its shareholders each year. As long as the 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.

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**19**

------

Schwab Retirement Government Money Fund

Financial Notes, unaudited (continued)

------

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

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

The management committee of the fund's investment adviser acts as the fund's CODM. The CODM has determined that the fund operates as a single operating segment given the fund has a single defined investment strategy disclosed in its respective prospectus. The discrete financial information in the form of the 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 fund, is presented within the fund's financial statements.

**(j) Indemnification:**

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

**(k) Recent Accounting Pronouncements:**

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments were issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to rate reconciliation and income taxes paid information. The guidance is effective for annual periods beginning after December 15, 2024, and with early adoption permitted. At this time, management is evaluating the impact of this amendment but believes it will not have a material impact on the financial statements and income tax disclosures.

------

**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 the fund's investment adviser and administrator pursuant to an Investment Advisory and Administration Agreement between the investment adviser and the trust.

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

**Contractual Expense Limitation**

The investment adviser and its affiliates have made an additional agreement with the fund, for so long as the investment adviser serves as the investment adviser to the fund, in which the agreement may only be amended or terminated with the approval of the Board, to limit the total annual fund operating expenses charged, excluding interest, taxes, and certain non-routine expenses (expense limitation) to 0.19%.

**Interfund Transactions**

The fund may engage in direct transactions with certain other funds in the Fund Complex in accordance with procedures adopted by the Board 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 the fund to execute the transaction at the current market price. This practice is limited to funds that share the same investment adviser. For the period ended June 30, 2025, the fund had no direct security transactions with other funds in the Fund Complex.

**Interfund Borrowing and Lending**

Pursuant to an exemptive order issued by the SEC, the fund may enter into interfund borrowing and lending transactions with other funds in the Fund 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. The fund had no interfund borrowing or lending activity during the period.

**20**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Financial Notes, unaudited (continued)

------

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

**4. Board of Trustees:**

The Board 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 fund did not pay any of these interested persons for their services as trustees, but did pay non-interested persons (independent trustees), as noted in the fund's Statement of Operations.

------

**5. Borrowing from Banks:**

During the period, the fund was a participant with other funds in the Fund Complex in a joint, syndicated, committed $1.2 billion line of credit (the Syndicated Credit Facility), maturing on September 25, 2025. Under the terms of the Syndicated Credit Facility, in addition to the interest charged on any borrowings by the fund, the fund paid a commitment fee of 0.15% per annum on the fund's proportionate share of the unused portion of the Syndicated Credit Facility.

During the period, the fund was a participant with other funds in the Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility) with State Street Bank and Trust Company, maturing on September 25, 2025. Under the terms of the Uncommitted Credit Facility, the fund pays interest on the amount the fund borrows. There were no borrowings by the fund from either line of credit during the period.

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

------

**6. Federal Income Taxes:**

As of June 30, 2025, the tax basis cost of the fund's investments was $2,494,975,212.

As of December 31, 2024, the fund had no capital loss carryforwards available to offset future realized capital gains for federal income tax purposes.

The tax basis components of distributions and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2025. The tax basis components of distributions paid during the fiscal year ended December 31, 2024 were as follows:

---

| |
|:---|
| PRIOR FISCAL YEAR END DISTRIBUTIONS |
| ORDINARY <br>INCOME <br>|
| $104124380 |

---

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 fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

As of December 31, 2024, 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 fund, and has determined that no provision for income tax is required in the fund's financial statements. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the fund's Statement of Operations. During the fiscal year ended December 31, 2024, the fund did not incur any interest or penalties.

------

**7. 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.

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**21**

------

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

------

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

Not applicable.

**22**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Proxy Disclosures for Open-End Management Investment Companies

------

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

Not applicable.

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**23**

------

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).

**24**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Investment Advisory Agreement Approval

------

The Investment Company Act of 1940, as amended (the 1940 Act), requires that the continuation of a fund's investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or "interested persons" of any party thereto (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund's trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory and administration agreement (the Agreement) between The Charles Schwab Family of Funds (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab Retirement Government Money Fund (the Fund), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser's affiliates, personnel, business goals and priorities, profitability, oversight of third-party service providers, corporate structure and operations. As part of the renewal process, the Independent Trustees' legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Fund that the Board reviews during the course of each year, including information that relates to the Fund's operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees' legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and answer sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.

The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance of the Agreement with respect to the Fund at meetings held on May 7, 2025 and June 5, 2025, and approved the renewal of the Agreement with respect to the Fund for an additional one-year term at the meeting on June 5, 2025 called for the purpose of voting on such approval.

The Board's approval of the continuance of the Agreement with respect to the Fund was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:

1. the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Fund;

2. the Fund's investment performance and how it compared to that of certain other comparable mutual funds and benchmark data;

3. the Fund's expenses and how those expenses compared to those of certain other similar mutual funds;

4. the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and

5. the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors.

**Nature, Extent and Quality of Services.** The Board considered the nature, extent and quality of the services provided by the investment adviser to the Fund and the resources of the investment adviser and its affiliates dedicated to the Fund. In this regard, the Trustees evaluated, among other things, the investment adviser's experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Fund's portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, and vendor and risk oversight. The Trustees also considered the investment adviser's continued investment in its infrastructure, including the investment adviser's technology and use of data, business continuity, cybersecurity, due diligence, risk management processes, and information security programs. The Trustees considered Schwab's overall

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**25**

------

Schwab Retirement Government Money Fund

financial condition and reputation as a full service brokerage firm, as well as the wide range of products, services, and account features that benefit Fund shareholders who are brokerage clients of Schwab. Following such evaluation, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of services provided by the investment adviser to the Fund and the resources of the investment adviser and its affiliates dedicated to the Fund supported renewal of the Agreement with respect to the Fund.

**Fund Performance.** The Board considered the Fund's performance in determining whether to renew the Agreement with respect to the Fund. Specifically, the Trustees considered the Fund's performance relative to a peer category of other mutual funds and applicable indices/benchmarks, in light of portfolio yield and the market environment, as well as in consideration of the Fund's investment style and strategy. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of the Fund, the Trustees considered the risk profile for the Fund and the Fund's operation as a government money market fund within the meaning of Rule 2a-7 under the 1940 Act. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser's profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Following such evaluation, the Board concluded, within the context of its full deliberations, that the performance of the Fund supported renewal of the Agreement with respect to the Fund.

**Fund Expenses.** With respect to the Fund's expenses, the Trustees considered the rate of compensation called for by the Agreement and the Fund's net operating expense ratio, in each case, in comparison to those of other similar mutual funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Fund and provision of services as well as the competitive marketplace for financial products. The Trustees considered the effects of the investment adviser and its affiliates practice of waiving certain fees to prevent total annual operating expenses of the Fund from exceeding a specified cap. The Trustee's also considered the investment adviser's contractual commitment to limit the total annual operating expenses of the Fund for so long as the investment adviser serves as the adviser to the Fund, as well as historically using voluntary waivers (which the investment adviser will not recoup) to maintain a certain yield. The Trustees also considered fees charged by the investment adviser to other mutual funds that it manages. Following such evaluation, the Board concluded, within the context of its full

deliberations, that the expenses of the Fund are reasonable and supported renewal of the Agreement with respect to the Fund.

**Profitability.** The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. The Trustees reviewed profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund shareholders of being part of the Schwab fund complex, including the allocations of certain costs across the Fund and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Fund, such as whether, by virtue of its management of the Fund, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Fund under the Agreement and other service agreements were reasonable in light of the quality of all services rendered to the Fund by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Fund. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to the Fund.

**Economies of Scale.** Although the Trustees recognized the difficulty of determining economies of scale with precision, the Trustees considered the potential existence of any economies of scale and whether those are passed along to the Fund's shareholders through (i) the enhancement of services provided to the Fund in return for fees paid, including through the investment adviser's continued investment in its infrastructure and use of data and technology, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Fund and its shareholders; (ii) (ii) fee waivers or expense caps by the investment adviser and its affiliates for those funds in the Schwab fund complex with such features; and (iii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees considered that the investment adviser and its affiliates may employ contractual expense caps to protect shareholders from higher fees when fund assets are relatively small, for example, in the case of newer funds or funds with investment strategies that are from time to time out of favor, because, among other reasons, shareholders may benefit from the continued availability of such funds at subsidized expense levels. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the Fund obtains reasonable benefits from economies of scale.

\* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \* \*

**26**Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

In the course of their deliberations, the Trustees may have accorded different weights to various factors and did not identify any particular information or factor that was all important or controlling. Based on the Trustees' deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, approved the continuation of the Agreement with respect to the Fund and

concluded that the compensation under the Agreement with respect to the Fund is fair and reasonable in light of the services provided and the related expenses borne by the investment adviser and its affiliates and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

Schwab Retirement Government Money Fund \| Semiannual Holdings and Financial Statements

**27**

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g199438imgc15e734c1.jpg)

MFR92571-09

00315738

------

#### 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 is 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) Code of ethics – not applicable to this semi-annual report.

(2) Not applicable.

------

(3) [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.](d17937dex99cert.htm)

(b) [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-CSRS with the Commission](d17937dex99906cert.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: | August 18, 2025 |

---

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: | August 18, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Dana Smith |
|  | Dana Smith<br> Principal Financial Officer (Chief Financial Officer) |
| Date: | August 18, 2025 |

---

## Ex-99.Cert

**<u>CERTIFICATIONS</u>**

I, Omar Aguilar, certify that:

1. I have reviewed this report on Form N-CSRS 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: August 18, 2025 | /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-CSRS 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: August 18, 2025 | /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 Semiannual Report for The Charles Schwab Family of Funds (the "Funds") on Form N-CSRS for the period ended June 30, 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: August 18, 2025 |
| Omar Aguilar |  |
| Principal Executive Officer (Chief Executive Officer) |  |

---

---

| | |
|:---|:---|
| /s/ Dana Smith | Date: August 18, 2025 |
| 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-CSRS with the Commission.