# EDGAR Filing Document

**Accession Number:** 0000857156
**File Stem:** 0001193125-25-193851
**Filing Date:** 2025-9
**Character Count:** 1250633
**Document Hash:** 9d9af6cbf1c2b0ff416147b2db9aa571
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-193851.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001193125-25-193851

**CONFORMED SUBMISSION TYPE**: N-CSR/A

**PUBLIC DOCUMENT COUNT**: 78

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**EFFECTIVENESS DATE**: 20250902

**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-CSR/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05954
- **FILM NUMBER:** 251284588

**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-CSR/A

------

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------

FORM N-CSR/A

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: December 31, 2024

------

EXPLANORY NOTE: The Registrant is filing this Form N-CSR/A to amend the Form N-CSR for the period ended

December 31, 2024, originally filed with the Securities and Exchange Commission on March 4, 2025, to correct the omission of

the Schwab U.S. Treasury Money Fund, Ultra Shares annual report in Form N-CSR. No other information or disclosures

contained in the Registrant's Form N-CSR filed March 4, 2025 are being amended by this Form N-CSR/A.

------

#### SIGNATURES
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: | September 2, 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: | September 2, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Dana Smith |
|  | Dana Smith<br>Principal Financial Officer (Chief Financial Officer) |
| Date: | September 2, 2025 |

---

------

Item 1: Report(s) to Shareholders.

------

![](g921938g2imgde4fc22d1.jpg)

Annual Report \| December 31, 2024

Schwab Value Advantage Money Fund<sup>®</sup>, Investor Shares

Ticker Symbol: SWVXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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 Value Advantage Money Fund, Investor Shares\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $218570 |
| Number of Holdings | 623 |
| Advisory Fees Paid by the Fund | $546586197 |
| Weighted Average Maturity | 23 Days |
| Seven-Day Yield (with waivers) | 4.30% |
| Seven-Day Yield (without waivers) | 4.27% |
| Seven-Day Effective Yield (with waivers) | 4.39% |
| Business Interest Deduction (163j) | 99.75% |

---

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g2imgfb7fd1cb2.jpg)

Portfolio Composition by Security Type % of Investments

![](g921938g2img0f0bea7d3.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 Value Advantage Money Fund<sup>®</sup>, Investor Shares \| Annual Report

REG126663-00 00308865

------

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 Value Advantage Money Fund<sup>®</sup>, Investor Shares \| Annual Report

------

![](g921938g3img872e6e231.jpg)

Annual Report \| December 31, 2024

Schwab Value Advantage Money Fund<sup>®</sup>, Ultra Shares

Ticker Symbol: SNAXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

.

You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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 Value Advantage Money Fund, Ultra Shares\* | $20 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $118180 |
| Number of Holdings | 623 |
| Advisory Fees Paid by the Fund | $546586197 |
| Weighted Average Maturity | 23 Days |
| Seven-Day Yield (with waivers) | 4.45% |
| Seven-Day Yield (without waivers) | 4.42% |
| Seven-Day Effective Yield (with waivers) | 4.54% |
| Business Interest Deduction (163j) | 99.75% |

---

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g3img5ff94af52.jpg)

Portfolio Composition by Security Type % of Investments

![](g921938g3img451f48f03.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 Value Advantage Money Fund<sup>®</sup>, Ultra Shares \| Annual Report

REG126664-00 00308867

------

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 Value Advantage Money Fund<sup>®</sup>, Ultra Shares \| Annual Report

------

![](g921938g4img9fee2d221.jpg)

Annual Report \| December 31, 2024

Schwab Government Money Fund, Sweep Shares

Ticker Symbol: SWGXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $45 | &nbsp;&nbsp;0.44% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $20322 |
| Number of Holdings | 304 |
| Advisory Fees Paid by the Fund | $116438625 |
| Weighted Average Maturity | 37 Days |
| Seven-Day Yield (with waivers) | 4.10% |
| Seven-Day Yield (without waivers) | 4.08% |
| Seven-Day Effective Yield (with waivers) | 4.18% |
| Business Interest Deduction (163j) | 100.00% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g4imge086840e2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g4imge70bbc003.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 Government Money Fund, Sweep Shares \| Annual Report

REG126646-00 00308849

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g5imga5d43a7c1.jpg)

Annual Report \| December 31, 2024

Schwab Government Money Fund, Investor Shares

Ticker Symbol: SNVXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

.

You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $28152 |
| Number of Holdings | 304 |
| Advisory Fees Paid by the Fund | $116438625 |
| Weighted Average Maturity | 37 Days |
| Seven-Day Yield (with waivers) | 4.20% |
| Seven-Day Yield (without waivers) | 4.18% |
| Seven-Day Effective Yield (with waivers) | 4.29% |
| Business Interest Deduction (163j) | 100.00% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g5imgfb50e00d2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g5imgba6b8c733.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 Government Money Fund, Investor Shares \| Annual Report

REG126645-00 00308848

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g6img43dc64f21.jpg)

Annual Report \| December 31, 2024

Schwab Government Money Fund, Ultra Shares

Ticker Symbol: SGUXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

**FUND COSTS FOR THE LAST year ENDED December 31, 2024** *(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)*

---

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

---

\*

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

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

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

Statistics

---

| | |
|:---|:---|
| Net Assets (millions) | $26324 |
| Number of Holdings | 304 |
| Advisory Fees Paid by the Fund | $116438625 |
| Weighted Average Maturity | 37 Days |
| Seven-Day Yield (with waivers) | 4.35% |
| Seven-Day Yield (without waivers) | 4.33% |
| Seven-Day Effective Yield (with waivers) | 4.44% |
| Business Interest Deduction (163j) | 100.00% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g6img27f14dd22.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g6img672856b53.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 Government Money Fund, Ultra Shares \| Annual Report

REG126647-00 00308850

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g7img1c3508251.jpg)

Annual Report \| December 31, 2024

Schwab U.S. Treasury Money Fund, Investor Shares

Ticker Symbol: SNSXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $35547 |
| Number of Holdings | 65 |
| Advisory Fees Paid by the Fund | $120743439 |
| Weighted Average Maturity | 49 Days |
| Seven-Day Yield (with waivers) | 4.15% |
| Seven-Day Yield (without waivers) | 4.11% |
| Seven-Day Effective Yield (with waivers) | 4.23% |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g7img14f9bd402.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g7img45acfb533.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 U.S. Treasury Money Fund, Investor Shares \| Annual Report

REG126661-00 00308864

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g8img0385bf891.jpg)

Annual Report \| December 31, 2024

Schwab U.S. Treasury Money Fund, Ultra Shares

Ticker Symbol: SUTXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $49370 |
| Number of Holdings | 65 |
| Advisory Fees Paid by the Fund | $120743439 |
| Weighted Average Maturity | 49 Days |
| Seven-Day Yield (with waivers) | 4.29% |
| Seven-Day Yield (without waivers) | 4.26% |
| Seven-Day Effective Yield (with waivers) | 4.39% |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g8img6b1f8bc92.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g8imge2b0faf83.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 U.S. Treasury Money Fund, Ultra Shares \| Annual Report

REG126662-00 00308866

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g9img5ac3693b1.jpg)

Annual Report \| December 31, 2024

Schwab Treasury Obligations Money Fund, Investor Shares

Ticker Symbol: SNOXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

.

You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $36001 |
| Number of Holdings | 77 |
| Advisory Fees Paid by the Fund | $124838121 |
| Weighted Average Maturity | 39 Days |
| Seven-Day Yield (with waivers) | 4.18% |
| Seven-Day Yield (without waivers) | 4.17% |
| Seven-Day Effective Yield (with waivers) | 4.27% |
| Business Interest Deduction (163j) | 100.00% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g9img62cf46b32.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g9imged2b5a9f3.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 Treasury Obligations Money Fund, Investor Shares \| Annual Report

REG126658-00 00308862

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g10imgefeefa191.jpg)

Annual Report \| December 31, 2024

Schwab Treasury Obligations Money Fund, Ultra Shares

Ticker Symbol: SCOXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $33772 |
| Number of Holdings | 77 |
| Advisory Fees Paid by the Fund | $124838121 |
| Weighted Average Maturity | 39 Days |
| Seven-Day Yield (with waivers) | 4.33% |
| Seven-Day Yield (without waivers) | 4.32% |
| Seven-Day Effective Yield (with waivers) | 4.42% |
| Business Interest Deduction (163j) | 100.00% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g10img9a480ec52.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g10imgc560673e3.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 Treasury Obligations Money Fund, Ultra Shares \| Annual Report

REG126659-00 00308861

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g11img36de4e681.jpg)

Annual Report \| December 31, 2024

Schwab Municipal Money Fund, Investor Shares

Ticker Symbol: SWTXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $4346 |
| Number of Holdings | 1106 |
| Advisory Fees Paid by the Fund | $29265522 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 3.29% |
| Seven-Day Yield (without waivers) | 3.27% |
| Seven-Day Effective Yield (with waivers) | 3.35% |
| Tax Exempt Income Distribution | 99.90% |
| Long Term Capital Gain Distribution | $109607 |
| Business Interest Deduction (163j) | 81.91% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g11img0298e02b2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g11img8796282c3.jpg)

Largest Holdings by State % of Investments

![](g921938g11imgb0c4f5844.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

Schwab Municipal Money Fund, Investor Shares \| Annual Report

REG126652-00 00308855

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g12imgd9849d711.jpg)

Annual Report \| December 31, 2024

Schwab Municipal Money Fund, Ultra Shares

Ticker Symbol: SWOXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $13210 |
| Number of Holdings | 1106 |
| Advisory Fees Paid by the Fund | $29265522 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 3.44% |
| Seven-Day Yield (without waivers) | 3.42% |
| Seven-Day Effective Yield (with waivers) | 3.50% |
| Tax Exempt Income Distribution | 99.90% |
| Long Term Capital Gain Distribution | $109607 |
| Business Interest Deduction (163j) | 81.91% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g12imgb0a0bbda2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g12img72571d3f3.jpg)

Largest Holdings by State % of Investments

![](g921938g12img5e6e85204.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

Schwab Municipal Money Fund, Ultra Shares \| Annual Report

REG126653-00 00308856

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g13img49ed10c51.jpg)

Annual Report \| December 31, 2024

Schwab AMT Tax-Free Money Fund, Investor Shares

Ticker Symbol: SWWXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $1234 |
| Number of Holdings | 565 |
| Advisory Fees Paid by the Fund | $5441044 |
| Weighted Average Maturity | 27 Days |
| Seven-Day Yield (with waivers) | 3.31% |
| Seven-Day Yield (without waivers) | 3.27% |
| Seven-Day Effective Yield (with waivers) | 3.37% |
| Tax Exempt Income Distribution | 99.99% |
| Long Term Capital Gain Distribution | $20895 |
| Business Interest Deduction (163j) | 11.54% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g13img7ae5f92b2.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g13img30dfa4fd3.jpg)

Largest Holdings by State % of Investments

![](g921938g13img8847d9224.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126641-00 00308844

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g14imgb00dc7c21.jpg)

Annual Report \| December 31, 2024

Schwab AMT Tax-Free Money Fund, Ultra Shares

Ticker Symbol: SCTXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $2765 |
| Number of Holdings | 565 |
| Advisory Fees Paid by the Fund | $5441044 |
| Weighted Average Maturity | 27 Days |
| Seven-Day Yield (with waivers) | 3.46% |
| Seven-Day Yield (without waivers) | 3.42% |
| Seven-Day Effective Yield (with waivers) | 3.52% |
| Tax Exempt Income Distribution | 99.99% |
| Long Term Capital Gain Distribution | $20895 |
| Business Interest Deduction (163j) | 11.54% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g14img26734e242.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g14imgaccf842c3.jpg)

Largest Holdings by State % of Investments

![](g921938g14img9695e2b54.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126642-00 00308846

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g15img026521c41.jpg)

Annual Report \| December 31, 2024

Schwab California Municipal Money Fund, Investor Shares

Ticker Symbol: SWKXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

.

You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $34 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $2605 |
| Number of Holdings | 397 |
| Advisory Fees Paid by the Fund | $15916389 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 2.79% |
| Seven-Day Yield (without waivers) | 2.78% |
| Seven-Day Effective Yield (with waivers) | 2.83% |
| Tax Exempt Income Distribution | 99.97% |
| Long Term Capital Gain Distribution | $48674 |
| Business Interest Deduction (163j) | 26.04% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g15img89454e742.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g15img8f1b44413.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126643-00 00308845

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g16img40cf9a8a1.jpg)

Annual Report \| December 31, 2024

Schwab California Municipal Money Fund, Ultra Shares

Ticker Symbol: SCAXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31, 2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus. You can also request this information by calling

1-866-414-6349 or by sending an email request to

orders@mysummaryprospectus.com. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(BASED ON A HYPOTHETICAL $10,000 INVESTMENT)

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

---

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

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $6426 |
| Number of Holdings | 397 |
| Advisory Fees Paid by the Fund | $15916389 |
| Weighted Average Maturity | 26 Days |
| Seven-Day Yield (with waivers) | 2.94% |
| Seven-Day Yield (without waivers) | 2.93% |
| Seven-Day Effective Yield (with waivers) | 2.98% |
| Tax Exempt Income Distribution | 99.97% |
| Long Term Capital Gain Distribution | $48674 |
| Business Interest Deduction (163j) | 26.04% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g16img9a577e712.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g16imgc9a6ba163.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126644-00 00308847

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g17imgeb1963a51.jpg)

Annual Report \| December 31, 2024

Schwab New York Municipal Money Fund, Investor Shares

Ticker Symbol: SWYXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $35 | &nbsp;&nbsp;0.34% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $1054 |
| Number of Holdings | 319 |
| Advisory Fees Paid by the Fund | $4385336 |
| Weighted Average Maturity | 31 Days |
| Seven-Day Yield (with waivers) | 3.27% |
| Seven-Day Yield (without waivers) | 3.24% |
| Seven-Day Effective Yield (with waivers) | 3.33% |
| Tax Exempt Income Distribution | 99.98% |
| Long Term Capital Gain Distribution | $10027 |
| Business Interest Deduction (163j) | 17.18% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g17img87a704c62.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g17img072004c53.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126654-00 00308857

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g18imge8c9a1141.jpg)

Annual Report \| December 31, 2024

Schwab New York Municipal Money Fund, Ultra Shares

Ticker Symbol: SNYXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

. If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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, Ultra Shares\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $1848 |
| Number of Holdings | 319 |
| Advisory Fees Paid by the Fund | $4385336 |
| Weighted Average Maturity | 31 Days |
| Seven-Day Yield (with waivers) | 3.42% |
| Seven-Day Yield (without waivers) | 3.39% |
| Seven-Day Effective Yield (with waivers) | 3.48% |
| Tax Exempt Income Distribution | 99.98% |
| Long Term Capital Gain Distribution | $10027 |
| Business Interest Deduction (163j) | 17.18% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g18img6a796f072.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g18img6eced3f63.jpg)

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

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

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

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

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

Portfolio holdings may have changed since the report date.

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

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

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

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

REG126655-00 00308858

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

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

------

![](g921938g19imgfae58e031.jpg)

Annual Report \| December 31, 2024

Schwab Retirement Government Money Fund

Ticker Symbol: SNRXX

------

This annual shareholder report contains important information about the fund for the period of January 1, 2024, to December 31,

2024. You can find additional information about the fund at

www.schwabassetmanagement.com/prospectus

. You can also request

this information by calling

1-866-414-6349

or by sending an email request to

orders@mysummaryprospectus.com

.

If you purchase

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

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

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

FUND COSTS FOR THE LAST year ENDED December 31, 2024

(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\* | $19 | &nbsp;&nbsp;0.19% |

---

\*

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

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

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

Statistics

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

---

| | |
|:---|:---|
| Net Assets (millions) | $2184 |
| Number of Holdings | 289 |
| Advisory Fees Paid by the Fund | $3606595 |
| Weighted Average Maturity | 37 Days |
| Seven-Day Yield (with waivers) | 4.35% |
| Seven-Day Yield (without waivers) | 4.32% |
| Seven-Day Effective Yield (with waivers) | 4.44% |
| Business Interest Deduction (163j) | 99.99% |

---

Portfolio Composition by Security Type % of Investments

![](g921938g19img9ac244c62.jpg)

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

Portfolio Composition By Effective Maturity % of Investments

![](g921938g19img424ae42e3.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 Retirement Government Money Fund \| Annual Report

REG126656-00 00308860

------

AVAILABILITY OF ADDITIONAL INFORMATION

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

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

www.schwabassetmanagement.com/prospectus

.

Proxy Voting Policies, Procedures and Results

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

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

www.schwabassetmanagement.com/prospectus

, the

SEC's website at

www.sec.gov

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

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

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

www.schwabassetmanagement.com/prospectus

or the

SEC's website at

www.sec.gov

, by calling

1-866-414-6349

, or by sending an email request to

orders@mysummaryprospectus.com

.

2Schwab Retirement Government Money Fund \| Annual Report

------

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

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

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

(e) Not applicable.

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

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

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

#### Item 4: Principal Accountant Fees and Services.
Registrant is composed of nine operational series. All nine series have a fiscal year-end of December 31, whose annual financial statements are reported in Item 1. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to each of the nine operational series during 2024 and the ten operational series during 2023, based on their respective 2024 and 2023 fiscal years, as applicable.

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| (a) Audit Fees<sup>1</sup> | (a) Audit Fees<sup>1</sup> | (b) Audit-Related Fees | (b) Audit-Related Fees | (c) Tax Fees<sup>2</sup> | (c) Tax Fees<sup>2</sup> | (d) All Other Fees | (d) All Other Fees |
| Fiscal Year<br> 2024 | Fiscal Year<br>2023 | Fiscal Year<br>2024 | Fiscal Year<br>2023 | Fiscal Year<br>2024 | Fiscal Year<br>2023 | Fiscal Year<br>2024 | Fiscal Year<br>2023 |
| $353700 | $363580 | $0 | $0 | $32850 | $32850 | $0 | $0 |

---

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

<sup>2</sup> The nature of the services includes tax compliance, tax advice and tax planning.

------

---

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

---

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

**(f)** Not applicable.

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

---

| | | |
|:---|:---|:---|
|  2024: $1,874,341 | 2023: $| 3940154.0 |

---

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

**(i)** Not applicable.

**(j)** Not applicable.

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

#### Item 6: Schedule of Investments.
The schedules of investments are included as part of the report to shareholders filed under Item 7 of this Form.

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

------

![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g109284img31b47caf1.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2024

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

------

**In This Report**

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

---

| | |
|:---|:---|
| [Financial Statements and Portfolio Holdings](#xx_84473756-8403-4beb-9ce8-4a6bba359a19_1) | 2 |
| [Financial Notes](#xx_f13790f9-0adc-4256-a76d-492969b5fab1_1) | 34 |
| [Report of Independent Registered Public Accounting Firm](#xx_5184bdf6-a65a-45a3-a8c7-7f5d5a7cf123_1) | 40  |

---

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

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

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**1**

------

Schwab Value Advantage Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>4,5</sup><br>| 0.11 %<sup>5</sup><br>| 0.28 %<sup>5,6</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>| 0.41<br> %<br>|
| Net investment income (loss) | 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; $218570 | &nbsp;&nbsp; $169906 | &nbsp;&nbsp; $94290 | &nbsp;&nbsp; $42245 | &nbsp;&nbsp; $56419 |

---

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

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

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

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

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

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

<sup>6</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 Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 0.05 | 0.05 | 0.02 | 0.00 <br><sup>2</sup><br>| 0.01 |
| Less distributions: |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>4,5</sup><br>| 0.11 %<sup>5</sup><br>| 0.18 %<sup>5,6</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>4</sup><br>| 0.20<br> %<br>| 0.26<br> %<br>|
| Net investment income (loss) | 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; $118180 | &nbsp;&nbsp; $95499 | &nbsp;&nbsp; $69065 | &nbsp;&nbsp; $33078 | &nbsp;&nbsp; $37882 |

---

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

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

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

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

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

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

<sup>6</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 Value Advantage Money Fund \| Annual Holdings and Financial Statements

**3**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 20.5% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 20.5% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 20.5% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 20.5% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 20.5% OF NET ASSETS | **CERTIFICATES OF DEPOSIT** 20.5% OF NET ASSETS |
| **BANK OF AMERICA NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.35% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.82% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.30% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.55% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 5.60% |  | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
|  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.40%)<br> *(a)* | &nbsp;&nbsp; 4.86% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/09/26 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **BANK OF MONTREAL (CHICAGO BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.51%)<br> *(a)* | &nbsp;&nbsp; 4.88% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100004302 |
| **BANK OF MONTREAL (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 04/04/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| **BANK OF NOVA SCOTIA (HOUSTON BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.35%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **BANK OF NOVA SCOTIA (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 1500000000 | &nbsp;&nbsp; 1500000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/05/25 | &nbsp;&nbsp; 299000000 | &nbsp;&nbsp; 299000000 |
| **BAYERISCHE LANDESBANK (NEW YORK BRANCH)** |  |  |  |  |  |
| (SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 499500000 | &nbsp;&nbsp; 499500000 |
| **BNP PARIBAS (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.33% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp; 65000000 |
|  | &nbsp;&nbsp; 5.02% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 366000000 | &nbsp;&nbsp; 366000000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |

---

*See financial notes*

**4**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 800000000 | &nbsp;&nbsp; 800000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.45% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.78% |  | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 04/04/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.82% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 499300000 | &nbsp;&nbsp; 499300000 |
| **CITIBANK NA** |  |  |  |  |  |
| (SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 520000000 | &nbsp;&nbsp; 520000000 |
| **COOPERATIEVE RABOBANK UA (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
|  | &nbsp;&nbsp; 5.38% |  | &nbsp;&nbsp; 03/26/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
|  | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 199100000 | &nbsp;&nbsp; 199100000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/05/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (NEW** <br> **YORK BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 549300000 | &nbsp;&nbsp; 549300000 |
|  | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 265000000 | &nbsp;&nbsp; 265000000 |
| <br>(SOFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/23/25 | &nbsp;&nbsp; 358000000 | &nbsp;&nbsp; 358000000 |
| **CREDIT AGRICOLE SA (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.40% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
|  | &nbsp;&nbsp; 5.38% |  | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.25% |  | &nbsp;&nbsp; 01/27/25 | &nbsp;&nbsp; 725000000 | &nbsp;&nbsp; 725000000 |
|  | &nbsp;&nbsp; 5.30% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.80% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 800000000 | &nbsp;&nbsp; 800000000 |
| **DEUTSCHE BANK AG (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **LANDESBANK BADEN WUERTTEMBERG (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 925000000 | &nbsp;&nbsp; 925000000 |
| **MITSUBISHI UFJ TRUST AND BANKING CORP (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 322000000 | &nbsp;&nbsp; 322000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 740000000 | &nbsp;&nbsp; 740000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 554100000 | &nbsp;&nbsp; 554100000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 379000000 | &nbsp;&nbsp; 379000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 430000000 | &nbsp;&nbsp; 430000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 115000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 164000000 | &nbsp;&nbsp; 164000000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**5**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **MIZUHO BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 740000000 | &nbsp;&nbsp; 740000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 154000000 | &nbsp;&nbsp; 154000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
|  | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 05/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 529210000 | &nbsp;&nbsp; 529210000 |
| **MUFG BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.81% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 320000000 | &nbsp;&nbsp; 320000000 |
| <br>(SOFR + 0.24%)<br> *(a)* | &nbsp;&nbsp; 4.70% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 714000000 | &nbsp;&nbsp; 714000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 155000000 | &nbsp;&nbsp; 155000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 315000000 | &nbsp;&nbsp; 315000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 550000000 |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 554000000 | &nbsp;&nbsp; 554000000 |
|  | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 04/16/25 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 95000000 |
|  | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 57000000 | &nbsp;&nbsp; 57000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/25 | &nbsp;&nbsp; 532000000 | &nbsp;&nbsp; 532000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 544200000 | &nbsp;&nbsp; 544200000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 510000000 | &nbsp;&nbsp; 510000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 498000000 | &nbsp;&nbsp; 498000000 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp; 585000000 | &nbsp;&nbsp; 585000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/17/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| **NATIXIS (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 05/06/25 | &nbsp;&nbsp; 650000000 | &nbsp;&nbsp; 650000000 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/18/25 | &nbsp;&nbsp; 400350000 | &nbsp;&nbsp; 400350000 |
| **NORDEA BANK ABP (NEW YORK BRANCH)** |  |  |  |  |  |
| (SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| **OVERSEA CHINESE BANKING CORPORATION LTD (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
| <br>(SOFR + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/24/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/26/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 263000000 | &nbsp;&nbsp; 263000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.26%)<br> *(a)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/03/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |

---

*See financial notes*

**6**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **ROYAL BANK OF CANADA (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 04/29/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **SUMITOMO MITSUI BANKING CORP (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 335000000 | &nbsp;&nbsp; 335000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 307000000 | &nbsp;&nbsp; 307000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/21/25 | &nbsp;&nbsp; 553100000 | &nbsp;&nbsp; 553100000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 550000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 560000000 | &nbsp;&nbsp; 560000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 280000000 | &nbsp;&nbsp; 280000000 |
| <br>(SOFR + 0.22%)<br> *(a)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 794320000 | &nbsp;&nbsp; 794320000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 325000000 |
| <br>(SOFR + 0.23%)<br> *(a)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/12/25 | &nbsp;&nbsp; 230000000 | &nbsp;&nbsp; 230000000 |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 550000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (LONDON BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
|  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **SUMITOMO MITSUI TRUST BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 564000000 | &nbsp;&nbsp; 564000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 458000000 | &nbsp;&nbsp; 458000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 04/09/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **SVENSKA HANDELSBANKEN AB (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.43% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.82% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
|  | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
|  | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| **SWEDBANK AB (NEW YORK BRANCH)** |  |  |  |  |  |
| (SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 190000000 | &nbsp;&nbsp; 190000000 |
| **TORONTO-DOMINION BANK (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.55% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 5.25% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 397000000 | &nbsp;&nbsp; 397000000 |
|  | &nbsp;&nbsp; 5.57% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
|  | &nbsp;&nbsp; 4.86% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 850000000 |
| <br>(EFFR + 0.29%)<br> *(a)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
|  | &nbsp;&nbsp; 5.40% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 5.40% |  | &nbsp;&nbsp; 07/02/25 | &nbsp;&nbsp; 475000000 | &nbsp;&nbsp; 475000000 |
| <br>(SOFR + 0.28%)<br> *(a)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**7**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.27%)<br> *(a)* | &nbsp;&nbsp; 4.73% | &nbsp;&nbsp; 01/02/25 | &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 |
| **TRUIST BANK** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.73% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &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 |
| **WELLS FARGO BANK NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.10% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99965546 |
|  | &nbsp;&nbsp; 5.33% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **Total Certificates Of Deposit** <br>**(Cost $69,113,084,848)**<br>|  |  |  |  | &nbsp;&nbsp; **69113084848** |
| **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS | **ASSET-BACKED COMMERCIAL PAPER** 7.2% OF NET ASSETS |
| **ANTALIS SA** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 166460000 | &nbsp;&nbsp; 166439747 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.73% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 234700000 | &nbsp;&nbsp; 232995035 |
| **BARCLAYS BANK PLC US COLLATERALIZED CP NOTES SERIES** <br> **2010-1**<br>|  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 355000000 | &nbsp;&nbsp; 355000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199975778 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.08% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249965486 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.30% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199971222 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 397000000 | &nbsp;&nbsp; 396757389 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.41% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99912167 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.37% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249057500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.05% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198932917 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99358972 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.09% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99338667 |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.71% |  | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493930556 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 04/10/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 296251500 |
| **BARTON CAPITAL SA** |  |  |  |  |  |
| <br>(SOFR + 0.17%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49738056 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.71% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99457500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99448167 |
| **BEDFORD ROW FUNDING CORP** |  |  |  |  |  |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198291500 |
| <br>(SOFR + 0.19%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>(SOFR + 0.19%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |

---

*See financial notes*

**8**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 04/16/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54278644 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.85% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98271000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 06/23/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 195709556 |
| <br>(SOFR + 0.27%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **BENNINGTON STARK CAPITAL COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 240966000 | &nbsp;&nbsp; 240966000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 185000000 | &nbsp;&nbsp; 184977543 |
| **CABOT TRAIL FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 01/27/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149512500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124427083 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.89% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 89354700 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49650778 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 39680000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 03/26/25 | &nbsp;&nbsp; 60750000 | &nbsp;&nbsp; 60126722 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 34511264 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 04/25/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246437361 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 73813500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 149800000 | &nbsp;&nbsp; 146337123 |
| **CAFCO LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 57600000 | &nbsp;&nbsp; 57600000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99732833 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99718278 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.07% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49663806 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 02/26/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 173762118 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148789875 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148770667 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24755167 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.71% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 29701000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 107459550 |
| **CHARIOT FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 450000000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/12/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 350000000 |
| **CHARTA LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 77100000 | &nbsp;&nbsp; 77100000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74788708 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.72% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 173915000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 74100000 | &nbsp;&nbsp; 73604786 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74459833 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49590222 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98142083 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 48845250 |
| **COLLATERALIZED COMMERCIAL PAPER V CO LLC** |  |  |  |  |  |
| <br>(SOFR + 0.28%)<br> *(a)(b)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 337500000 | &nbsp;&nbsp; 337500000 |
| <br>(SOFR + 0.28%)<br> *(a)(b)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/24/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**9**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/25 | &nbsp;&nbsp; 364000000 | &nbsp;&nbsp; 364000000 |
| <br>(SOFR + 0.30%)<br> *(a)(b)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/10/25 | &nbsp;&nbsp; 427000000 | &nbsp;&nbsp; 427000000 |
| **CONCORD MINUTEMEN CAPITAL CO LLC SERIES C** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 133000000 | &nbsp;&nbsp; 132930988 |
| <br>(SOFR + 0.30%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 21800000 | &nbsp;&nbsp; 21800000 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 99500000 | &nbsp;&nbsp; 98107553 |
| <br>(SOFR + 0.29%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 96000000 | &nbsp;&nbsp; 96000000 |
| **CRC FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 67100000 | &nbsp;&nbsp; 67100000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 39893133 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148919667 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.69% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74385333 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 73670000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98142083 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24422625 |
| **GOTHAM FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99725250 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 01/27/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74756250 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 170000000 | &nbsp;&nbsp; 169261444 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149337000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99545000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 398128000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.80% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 123846250 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.81% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49537514 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99060417 |
| **GREAT BEAR FUNDING LLC / GREAT BEAR FUNDING DAC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 251000000 | &nbsp;&nbsp; 251000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 119400000 | &nbsp;&nbsp; 119385606 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 645000000 | &nbsp;&nbsp; 644688250 |
| **LIBERTY STREET FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.49% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349948181 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.72% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99857611 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 31751120 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 297628500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 04/29/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 221702062 |
| **LMA AMERICAS LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 400600000 | &nbsp;&nbsp; 400600000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10967000 | &nbsp;&nbsp; 10959932 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 50300000 | &nbsp;&nbsp; 50261101 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 51300000 | &nbsp;&nbsp; 51119167 |
| **LONGSHIP FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 63900000 | &nbsp;&nbsp; 63900000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 170000000 | &nbsp;&nbsp; 169979506 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149927500 |

---

*See financial notes*

**10**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **MAINBEACH FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 177000000 | &nbsp;&nbsp; 177000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 34995771 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 165000000 | &nbsp;&nbsp; 164920250 |
| **MANHATTAN ASSET FUNDING COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 51098000 | &nbsp;&nbsp; 51098000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/12/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **MATCHPOINT FINANCE PLC** |  |  |  |  |  |
| *(b)(c)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **NIEUW AMSTERDAM RECEIVABLES CORPORATION BV** |  |  |  |  |  |
| *(b)(c)* | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99928889 |
| **OLD LINE FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147629333 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98276083 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 48825222 |
| **PARADELLE FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.49% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 296274167 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 07/08/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 146782042 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 07/30/25 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp; 116934667 |
| <br>(SOFR + 0.32%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.69% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/29/25 | &nbsp;&nbsp; 180000000 | &nbsp;&nbsp; 180000000 |
| **PODIUM FUNDING TRUST** |  |  |  |  |  |
| <br>*(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49823056 |
| <br>*(b)* | &nbsp;&nbsp; 5.03% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99333056 |
| <br>(SOFR + 0.20%)<br> *(a)(b)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/24/25 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 90000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/24/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 04/10/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98755944 |
| <br>(SOFR + 0.22%)<br> *(a)(b)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| <br>*(b)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 162000000 | &nbsp;&nbsp; 159153975 |
| <br>(SOFR + 0.23%)<br> *(a)(b)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.27%)<br> *(a)(b)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/17/25 | &nbsp;&nbsp; 73000000 | &nbsp;&nbsp; 73000000 |
| **PRICOA SHORT TERM FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.23% |  | &nbsp;&nbsp; 04/18/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98518944 |
| **RIDGEFIELD FUNDING COMPANY LLC** |  |  |  |  |  |
| <br>(SOFR + 0.23%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/12/25 | &nbsp;&nbsp; 310000000 | &nbsp;&nbsp; 310000000 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/24/25 | &nbsp;&nbsp; 342000000 | &nbsp;&nbsp; 342000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.67% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 53000000 | &nbsp;&nbsp; 52053420 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.67% |  | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 53934100 |
| **SHEFFIELD RECEIVABLES COMPANY LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.06% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49719264 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.72% |  | &nbsp;&nbsp; 02/24/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99315417 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 322378062 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.68% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 223152000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**11**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **STARBIRD FUNDING CORP** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.99% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 398160222 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.03% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149265000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.03% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198938333 |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.07% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49663806 |
| <br>(SOFR + 0.21%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.58% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 135000000 | &nbsp;&nbsp; 135000000 |
| <br>(SOFR + 0.20%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 04/04/25 | &nbsp;&nbsp; 115000000 | &nbsp;&nbsp; 113703950 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196552167 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196501833 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp; 270000000 | &nbsp;&nbsp; 264581100 |
| **THUNDER BAY FUNDING LLC** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 5.43% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124743819 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49138042 |
| **VICTORY RECEIVABLES CORP** |  |  |  |  |  |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 24906000 | &nbsp;&nbsp; 24906000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/17/25 | &nbsp;&nbsp; 180000000 | &nbsp;&nbsp; 179647500 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.77% |  | &nbsp;&nbsp; 01/17/25 | &nbsp;&nbsp; 145000000 | &nbsp;&nbsp; 144715437 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99751944 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 01/27/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 174431250 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.74% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99545000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346886847 |
| **Total Asset-Backed Commercial Paper** <br>**(Cost $24,258,786,064)**<br>|  |  |  |  | &nbsp;&nbsp; **24258786064** |
| **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS | **FINANCIAL COMPANY COMMERCIAL PAPER** 16.1% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(c)* | &nbsp;&nbsp; 5.47% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499705000 |
| <br>*(c)* | &nbsp;&nbsp; 4.91% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 174043333 |
| <br>*(c)* | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49600111 |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 550000000 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/19/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 650000000 | &nbsp;&nbsp; 650000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 299000000 | &nbsp;&nbsp; 293568582 |
| <br>*(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 499100000 | &nbsp;&nbsp; 489637619 |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| **BANK OF MONTREAL** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196966667 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 198875000 | &nbsp;&nbsp; 198875000 |
| **BANK OF NOVA SCOTIA** |  |  |  |  |  |
| (SOFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/12/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
| **BARCLAYS BANK UK PLC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 375000000 | &nbsp;&nbsp; 375000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 975000000 | &nbsp;&nbsp; 974882187 |
| <br>*(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 399806667 |
| <br>*(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249848958 |

---

*See financial notes*

**12**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.44% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 73000000 | &nbsp;&nbsp; 72935638 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.31%)<br> *(a)(c)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 545000000 | &nbsp;&nbsp; 545000000 |
| <br>(SOFR + 0.29%)<br> *(a)(c)* | &nbsp;&nbsp; 4.75% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 280000000 | &nbsp;&nbsp; 280000000 |
| <br>*(c)* | &nbsp;&nbsp; 5.48% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 495543611 |
| <br>*(c)* | &nbsp;&nbsp; 5.54% |  | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 82178208 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 104000000 | &nbsp;&nbsp; 104000000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 175000000 | &nbsp;&nbsp; 175000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 146260000 |
| <br>(SOFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 342000000 | &nbsp;&nbsp; 342000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 08/20/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 679919722 |
| <br>*(c)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 242541250 |
| <br>*(c)* | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 242265000 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/11/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **BPCE SA** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.41% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 299079500 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 525000000 | &nbsp;&nbsp; 525000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.97% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 560000000 | &nbsp;&nbsp; 557359444 |
| <br>(SOFR + 0.23%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 80000000 | &nbsp;&nbsp; 80000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 694275556 |
| <br>*(c)* | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 1239575000 | &nbsp;&nbsp; 1226060534 |
| <br>*(c)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 130000000 | &nbsp;&nbsp; 128001250 |
| <br>*(c)* | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 1099700000 | &nbsp;&nbsp; 1082754539 |
| <br>*(c)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/07/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246093750 |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.46% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 994710000 |
| <br>*(c)* | &nbsp;&nbsp; 5.49% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148682500 |
| <br>*(c)* | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 441712875 |
| <br>*(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98142083 |
| <br>*(c)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 189000000 | &nbsp;&nbsp; 183241433 |
| <br>(SOFR + 0.32%)<br> *(a)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **COMMONWEALTH BANK OF AUSTRALIA** |  |  |  |  |  |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/24/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **DNB BANK ASA** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 497194167 |
| <br>*(c)* | &nbsp;&nbsp; 4.93% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298313000 |
| <br>*(c)* | &nbsp;&nbsp; 4.99% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 99100000 | &nbsp;&nbsp; 98536947 |
| <br>*(c)* | &nbsp;&nbsp; 4.93% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298272833 |
| <br>*(c)* | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 596080000 |
| <br>*(c)* | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 446583562 |
| <br>*(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147947167 |
| <br>*(c)* | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 591713333 |
| <br>*(c)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 265000000 | &nbsp;&nbsp; 260627500 |
| **FEDERATION DES CAISSES DESJARDINS DU QUEBEC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249969722 |
| <br>*(c)* | &nbsp;&nbsp; 5.43% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 435000000 | &nbsp;&nbsp; 434298200 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**13**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>*(c)* | &nbsp;&nbsp; 4.98% |  | &nbsp;&nbsp; 02/21/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 148988542 |
| <br>*(c)* | &nbsp;&nbsp; 4.91% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 198483167 |
| <br>*(c)* | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98612778 |
| <br>*(c)* | &nbsp;&nbsp; 4.59% |  | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196707333 |
| **HSBC BANK PLC** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/24/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1050000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 135000000 | &nbsp;&nbsp; 134992449 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 700000000 |
| **ING US FUNDING LLC** |  |  |  |  |  |
| <br>(SOFR + 0.22%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.68% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.19%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.19%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/19/25 | &nbsp;&nbsp; 641000000 | &nbsp;&nbsp; 641000000 |
| <br>(SOFR + 0.18%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 04/09/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 493897083 |
| <br>(SOFR + 0.28%)<br> *(a)(b)(c)* | &nbsp;&nbsp; 4.74% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 749100000 | &nbsp;&nbsp; 749100000 |
| <br>*(b)(c)* | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147350375 |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 315000000 | &nbsp;&nbsp; 315000000 |
| **MIZUHO BANK LTD (SINGAPORE BRANCH)** |  |  |  |  |  |
| *(c)* | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 322220663 |
| **NATIONAL AUSTRALIA BANK LTD** |  |  |  |  |  |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 198250000 | &nbsp;&nbsp; 198249613 |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/09/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>(SOFR + 0.23%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| **NRW BANK** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 495057222 |
| <br>*(c)* | &nbsp;&nbsp; 4.59% |  | &nbsp;&nbsp; 05/20/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 491394167 |
| <br>*(c)* | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 09/22/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 290422417 |
| **OVERSEA-CHINESE BANKING CORPORATION LTD** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.72% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249158611 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 149100000 | &nbsp;&nbsp; 149100000 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.22%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 242000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 275000000 | &nbsp;&nbsp; 275000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| <br>(SOFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 600000000 |
| <br>(EFFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(EFFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(EFFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(EFFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.59% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>*(c)* | &nbsp;&nbsp; 5.46% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 497161667 |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.62% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 24100000 | &nbsp;&nbsp; 23697470 |
| <br>*(c)* | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 05/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 491457500 |

---

*See financial notes*

**14**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(EFFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(EFFR + 0.28%)<br> *(a)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/03/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.24%)<br> *(a)(c)* | &nbsp;&nbsp; 4.61% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 750000000 |
| <br>(EFFR + 0.27%)<br> *(a)(c)* | &nbsp;&nbsp; 4.60% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 249750000 | &nbsp;&nbsp; 249750000 |
| <br>*(c)* | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 10/03/25 | &nbsp;&nbsp; 824700000 | &nbsp;&nbsp; 799278622 |
| <br>*(c)* | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 386825889 |
| <br>(SOFR + 0.35%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/04/25 | &nbsp;&nbsp; 675000000 | &nbsp;&nbsp; 675000000 |
| **SKANDINAVISKA ENSKILDA BANKEN AB** |  |  |  |  |  |
| <br>(SOFR + 0.25%)<br> *(a)(c)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 777500000 | &nbsp;&nbsp; 777500000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 97500000 | &nbsp;&nbsp; 97497817 |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/27/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.81% |  | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 195000000 | &nbsp;&nbsp; 192425350 |
| <br>*(c)* | &nbsp;&nbsp; 5.14% |  | &nbsp;&nbsp; 04/29/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98391250 |
| <br>*(c)* | &nbsp;&nbsp; 5.12% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 98384056 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/29/25 | &nbsp;&nbsp; 218000000 | &nbsp;&nbsp; 218000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/12/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 488211979 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/16/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 250000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.26%)<br> *(a)(c)* | &nbsp;&nbsp; 4.72% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **SVENSKA HANDELSBANKEN AB** |  |  |  |  |  |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 294799083 |
| **SWEDBANK AB** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 99100000 | &nbsp;&nbsp; 98576091 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/12/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.18%)<br> *(a)(c)* | &nbsp;&nbsp; 4.64% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 158000000 | &nbsp;&nbsp; 158000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **TORONTO-DOMINION BANK/THE** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.30% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496227500 |
| <br>*(c)* | &nbsp;&nbsp; 5.11% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 737905000 |
| <br>*(c)* | &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 05/09/25 | &nbsp;&nbsp; 475000000 | &nbsp;&nbsp; 466269632 |
| <br>(EFFR + 0.30%)<br> *(a)(c)* | &nbsp;&nbsp; 4.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/05/25 | &nbsp;&nbsp; 515000000 | &nbsp;&nbsp; 515000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 680500000 | &nbsp;&nbsp; 657741056 |
| <br>(EFFR + 0.45%)<br> *(a)(c)* | &nbsp;&nbsp; 4.78% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 822000000 | &nbsp;&nbsp; 822000000 |
| **UBS AG (LONDON BRANCH)** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 298295500 |
| <br>*(c)* | &nbsp;&nbsp; 4.99% |  | &nbsp;&nbsp; 02/21/25 | &nbsp;&nbsp; 49100000 | &nbsp;&nbsp; 48768575 |
| <br>(SOFR + 0.19%)<br> *(a)(c)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| <br>*(c)* | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 294437667 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**15**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **UNITED OVERSEAS BANK LTD** |  |  |  |  |  |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 71000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 325000000 | &nbsp;&nbsp; 325000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.21%)<br> *(a)(c)* | &nbsp;&nbsp; 4.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/19/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 150000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| <br>(SOFR + 0.20%)<br> *(a)(c)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125000000 |
| **Total Financial Company Commercial Paper** <br>**(Cost $54,223,563,572)**<br>|  |  |  |  | &nbsp;&nbsp; **54223563572** |
| **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS | **NON-FINANCIAL COMPANY COMMERCIAL PAPER** 0.7% OF NET ASSETS |
| **EQUINOR ASA** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1049867291 |
| **TOYOTA CREDIT CANADA INC** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 48537778 |
|  | &nbsp;&nbsp; 4.60% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 48498125 |
| **TOYOTA MOTOR CREDIT CORP** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.90% |  | &nbsp;&nbsp; 05/16/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 196478778 |
| <br>(SOFR + 0.30%)<br> *(a)* | &nbsp;&nbsp; 4.76% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/23/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| **UNITEDHEALTH GROUP INC** |  |  |  |  |  |
| <br>*(c)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 785000000 | &nbsp;&nbsp; 785000000 |
| **Total Non-Financial Company Commercial Paper** <br>**(Cost $2,228,381,972)**<br>|  |  |  |  | &nbsp;&nbsp; **2228381972** |
| **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS | **NON-NEGOTIABLE TIME DEPOSITS** 5.6% OF NET ASSETS |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (CAYMAN** <br> **ISLANDS BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5595000000 | &nbsp;&nbsp; 5595000000 |
| **AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON** <br> **BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **BANCO SANTANDER SA (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1200000000 | &nbsp;&nbsp; 1200000000 |
| **BANQUE FEDERATIVE DU CREDIT MUTUEL SA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1300000000 | &nbsp;&nbsp; 1300000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4300000000 | &nbsp;&nbsp; 4300000000 |

---

*See financial notes*

**16**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **DBS BANK LTD** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 1000000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 800000000 | &nbsp;&nbsp; 800000000 |
| **LANDESBANK HESSEN THUERINGEN GIROZENTRALE (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 398000000 | &nbsp;&nbsp; 398000000 |
| **MIZUHO BANK LTD (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 47000000 | &nbsp;&nbsp; 47000000 |
| **NATIONAL BANK OF CANADA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **NORDDEUTSCHE LANDESBANK GIROZENTRALE (NEW YORK** <br> **BRANCH)**<br>|  |  |  |  |  |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp; 400000000 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 430000000 | &nbsp;&nbsp; 430000000 |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 148000000 | &nbsp;&nbsp; 148000000 |
| **SANTANDER UK PLC** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 500000000 |
| **SOCIETE GENERALE (NEW YORK BRANCH)** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **Total Non-Negotiable Time Deposits** <br>**(Cost $19,018,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **19018000000** |
| **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS | **NON-U.S. SOVEREIGN, SUB-SOVEREIGN AND SUPRA-NATIONAL DEBT** 0.1% OF NET ASSETS |
| **CAISSE AMORTISSEMENT DE LA DETTE SOCIALE** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.91% |  | &nbsp;&nbsp; 02/24/25 | &nbsp;&nbsp; 299000000 | &nbsp;&nbsp; 296887067 |
| **Total Non-U.S. Sovereign, Sub-Sovereign And Supra-National Debt** <br>**(Cost $296,887,067)**<br>|  |  |  |  | &nbsp;&nbsp; **296887067** |
| **OTHER INSTRUMENTS** 0.2% OF NET ASSETS | **OTHER INSTRUMENTS** 0.2% OF NET ASSETS | **OTHER INSTRUMENTS** 0.2% OF NET ASSETS | **OTHER INSTRUMENTS** 0.2% OF NET ASSETS | **OTHER INSTRUMENTS** 0.2% OF NET ASSETS | **OTHER INSTRUMENTS** 0.2% OF NET ASSETS |
| **BANK OF AMERICA NA** |  |  |  |  |  |
|  | &nbsp;&nbsp; 5.35% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 805000000 | &nbsp;&nbsp; 805000000 |
| **Total Other Instruments** <br>**(Cost $805,000,000)**<br>|  |  |  |  | &nbsp;&nbsp; **805000000** |
| **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 |
| **3325 Wilshire LP** |  |  |  |  |  |
| VARIABLE RATE DEMAND MF HOUSING RB (3325 WILSHIRE <br> APARTMENTS) SERIES 2024A (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **ABAG FINANCE AUTH** |  |  |  |  |  |
| TAXABLE RB (PUBLIC POLICY INSTITUTE OF CALIFORNIA) <br> SERIES 2001B (**LOC**: WELLS FARGO BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17550000 | &nbsp;&nbsp; 17550000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**17**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **BLUE MOUNTAIN ENTERPRISES, LLC** |  |  |  |  |  |
| VARIABLE RATE DEMAND BONDS SERIES 2013 (**LOC**: WELLS <br> FARGO BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2210000 | &nbsp;&nbsp; 2210000 |
| **BRECKENRIDGE TERRACE, LLC** |  |  |  |  |  |
| HOUSING FACILITIES REVENUE NOTES SERIES 1999B <br> (**LOC**: BANK OF AMERICA NA) <br>*(d)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **CALIFORNIA PUBLIC FINANCE AUTH** |  |  |  |  |  |
| <br>RB (ADVENTIST HEALTH) SERIES 2024B (**LOC**: BARCLAYS BANK <br> PLC)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |
| <br>RB (ADVENTIST HEALTH) SERIES 2024C (**LOC**: PNC BANK NA)<br> *(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 85000000 |
| **CELLMARK, INC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2018A (**LOC**: SWEDBANK AB)<br> *(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11325000 | &nbsp;&nbsp; 11325000 |
| <br>S/F MORTGAGE BONDS CLASS II SERIES 2023A2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9700000 | &nbsp;&nbsp; 9700000 |
| <br>S/F MORTGAGE BONDS SERIES SERIES 2023M2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2019L2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp; 12100000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2023N2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024A2 (**LIQ**: BANK OF <br> AMERICA NA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30650000 | &nbsp;&nbsp; 30650000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024B2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| <br>S/F MORTGAGE CLASS I BONDS SERIES 2024C2 (**LIQ**: ROYAL <br> BANK OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23490000 | &nbsp;&nbsp; 23490000 |
| <br>S/F MORTGAGE CLASS II RB SERIES 2023F2 (**LIQ**: ROYAL BANK <br> OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25150000 | &nbsp;&nbsp; 25150000 |
| **COOK CNTY TAXABLE** |  |  |  |  |  |
| GO BONDS SERIES 2004D (**LOC**: BARCLAYS BANK PLC) <br> *(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28830000 | &nbsp;&nbsp; 28830000 |
| **EAGLE CNTY** |  |  |  |  |  |
| <br>RB (BC HOUSING) SERIES 1997B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(d)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| <br>RB (TARNES AT BC) SERIES 1999B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(d)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| **ECMC GROUP INC** |  |  |  |  |  |
| STUDENT LOAN BACKED BONDS SERIES 2024-2 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 116382000 | &nbsp;&nbsp; 116382000 |
| **GINA RISTOW BELLING 2022** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2024 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 37170000 | &nbsp;&nbsp; 37170000 |

---

*See financial notes*

**18**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **GREYSHOE ISSUING TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31640000 | &nbsp;&nbsp; 31640000 |
| **HARTFORD HEALTHCARE CORP** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES C (**LOC**: JPMORGAN CHASE BANK NA)<br> *(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **ILLINOIS HOUSING DEVELOPMENT AUTH** |  |  |  |  |  |
| <br>HOUSING BONDS SERIES 2017A2 (**LIQ**: FEDERAL HOME LOAN <br> BANKS)<br>*(d)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 29550000 | &nbsp;&nbsp; 29550000 |
| <br>MARCH 2016 S/F RB SERIES 2024G (**LIQ**: ROYAL BANK OF <br> CANADA)<br>*(b)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 56665000 | &nbsp;&nbsp; 56665000 |
| <br>TAXABLE RB SERIES 2023J (**LIQ**: ROYAL BANK OF CANADA)<br> *(b)(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14500000 |
| **ILLINOIS HSG DEV AUTH 2016** |  |  |  |  |  |
| M/F RB SERIES 2022C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10810000 | &nbsp;&nbsp; 10810000 |
| **IOWA STUDENT LOAN LIQUIDITY CORP** |  |  |  |  |  |
| TAXABLE RB SERIES 20231 (**LOC**: ROYAL BANK OF CANADA) <br> *(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 53135000 | &nbsp;&nbsp; 53135000 |
| **J MACE MEEKS 2022 INSURANCE TRUST** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50470000 | &nbsp;&nbsp; 50470000 |
| **KDF LEXINGTON LP** |  |  |  |  |  |
| TAXABLE M/F HOUSING RB (LEXINGTON APTS) SERIES 2024A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4310000 | &nbsp;&nbsp; 4310000 |
| **KDF REGENCY LP** |  |  |  |  |  |
| M/F HOUSING RB (REGENCY PARK APTS) SERIES 2024B <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9230000 | &nbsp;&nbsp; 9230000 |
| **KEEP MEMORY ALIVE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND BONDS SERIES 2013 <br> (**LOC**: PNC BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28700000 | &nbsp;&nbsp; 28700000 |
| **LABCON NORTH AMERICA** |  |  |  |  |  |
| <br>TAXABLE BONDS SERIES 2010 (**LOC**: BANK OF MONTREAL)<br> *(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1855000 | &nbsp;&nbsp; 1855000 |
| **MACON-BIBB CNTY INDUSTRIAL AUTH** |  |  |  |  |  |
| IDRB SERIES 2015 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1710000 | &nbsp;&nbsp; 1710000 |
| **MOUNTAIN BANYAN QUALIFIED OPPORTUNITY ZONE** <br> **BUSINESS LLC**<br>|  |  |  |  |  |
| <br>TAXABLE M/F HOUSING RB SERIES 2023A (**LOC**: FEDERAL <br> HOME LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45673000 | &nbsp;&nbsp; 45673000 |
| **NUVEEN CREDIT STRATEGIES INCOME FUND** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES A (**LOC**: SOCIETE GENERALE SA)<br>*(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 62000000 | &nbsp;&nbsp; 62000000 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**19**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **NUVEEN FLOATING RATE INCOME FUND** |  |  |  |  |  |
| <br>VARIABLE RATE DEMAND PREFERRED SHARES SERIES A <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)<br>*(c)(d)* | &nbsp;&nbsp; 4.62% |  | &nbsp;&nbsp; 01/07/25 | &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)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37500000 | &nbsp;&nbsp; 37500000 |
| <br>TAXABLE VARIABLE RATE DEMAND PREFERRED SHARES <br> SERIES B (**LOC**: BARCLAYS BANK PLC)<br>*(c)(d)* | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 01/07/25 | &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)(d)* | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21250000 | &nbsp;&nbsp; 21250000 |
| **OLATHE** |  |  |  |  |  |
| TAXABLE IDRB (DIAMANT BOART) SERIES 1997B <br> (**LOC**: SVENSKA HANDELSBANKEN AB (NEW YORK <br> BRANCH)) <br>*(d)* | &nbsp;&nbsp; 4.95% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35356000 | &nbsp;&nbsp; 35356000 |
| **PHILIP BRYAN WISE 2022 TRUST IRREVOCABLE** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &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>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23700000 | &nbsp;&nbsp; 23700000 |
| <br>HOMEOWNERSHIP OPPORTUNITY BONDS SERIES 82T2 <br> (**LIQ**: ROYAL BANK OF CANADA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| **SHIL PARK IRREV LIFE INS** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2019 <br> (**LOC**: FEDERAL HOME LOAN BANKS; VISTA BANK TEXAS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16095000 | &nbsp;&nbsp; 16095000 |
| **SOUTHERN CALIFORNIA METROPOLITAN WATER DISTRICT** |  |  |  |  |  |
| <br>SUB WATER REFUNDING RB SERIES 2021A (**LIQ**: BANK OF <br> AMERICA NA)<br>*(d)* | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 120140000 | &nbsp;&nbsp; 120140000 |
| <br>TAXABLE WATER REFUNDING RB SERIES 2022C2 (**LIQ**: PNC <br> BANK NA)<br>*(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14940000 | &nbsp;&nbsp; 14940000 |
| **SRM HAYWARD LLC** |  |  |  |  |  |
| <br>TAXABLE VARIABLE RATE DEMAND RB (BELLARA SR LIVING) <br> SERIES 2022A (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28600000 | &nbsp;&nbsp; 28600000 |
| **TENDERFOOT SEASONAL HOUSING, LLC** |  |  |  |  |  |
| <br>TAXABLE NOTES SERIES 2000B (**LOC**: WELLS FARGO BANK NA)<br> *(d)* | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5885000 | &nbsp;&nbsp; 5885000 |
| **TRIBOROUGH BRIDGE & TUNNEL AUTH** |  |  |  |  |  |
| <br>GENERAL REFUNDING RB SERIES 2018E (**LOC**: UBS AG)<br> *(d)* | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 63970000 | &nbsp;&nbsp; 63970000 |
| **VSL PROPERTY HOLDINGS STB LLC** |  |  |  |  |  |
| TAXABLE BONDS SERIES 2024 (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(d)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17390000 | &nbsp;&nbsp; 17390000 |

---

*See financial notes*

**20**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **YAVAPAI CNTY IDA** |  |  |  |  |  |
| <br>TAXABLE RB (DRAKE CEMENT) SERIES 2015 (**LOC**: BANK OF <br> NOVA SCOTIA)<br>*(d)* | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27450000 | &nbsp;&nbsp; 27450000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $1,898,271,000)**<br>|  |  |  |  | &nbsp;&nbsp; **1898271000** |

---

&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** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 45.1% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 16.7%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1626402887 | &nbsp;&nbsp; 1626000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,677,010,180, 2.00% - 6.50%, due 01/01/26 - <br> 08/20/69)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 203050299 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $207,111,345, 0.00%, due 01/28/25 - 09/04/25)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 815201939 | &nbsp;&nbsp; 815000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $839,656,995, 1.50% - 7.00%, <br> due 09/01/25 - 11/15/59)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2445151876 | &nbsp;&nbsp; 2443000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,518,486,422, 0.00% - <br> 7.00%, due 03/27/25 - 11/15/59)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1830453433 | &nbsp;&nbsp; 1830000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,884,900,000, 0.13% - 13.28%, due <br> 02/25/25 - 09/20/73)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2114523802 | &nbsp;&nbsp; 2114000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,177,420,000, 1.25% - 14.32%, due <br> 07/15/31 - 05/20/74)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 406100598 | &nbsp;&nbsp; 406000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $416,545,984, 0.00% - 7.00%, <br> due 01/14/25 - 10/20/74)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 203050299 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $213,202,814, 1.21% - 6.02%, due 12/25/30 - <br> 12/25/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**21**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1504372658 | &nbsp;&nbsp; 1504000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,558,224,191, 0.25% - <br> 7.83%, due 07/31/25 - 12/25/54)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6099510949 | &nbsp;&nbsp; 6098000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $6,280,940,256, 1.50% - 8.00%, due 01/01/26 - <br> 03/01/56)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2309572119 | &nbsp;&nbsp; 2309000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,355,180,000, 1.50% - 7.00%, due 01/01/27 - <br> 12/15/57)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2445151876 | &nbsp;&nbsp; 2443000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,493,519,417, 0.75% - <br> 6.50%, due 02/28/25 - 02/16/65)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 2443074172 | &nbsp;&nbsp; 2441000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,493,492,585, 1.50% - 7.50%, due 02/01/33 - <br> 11/16/64)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2441100928 | &nbsp;&nbsp; 2439000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,488,694,787, 0.00% - <br> 7.00%, due 02/28/25 - 01/16/64)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4069510313 | &nbsp;&nbsp; 4066000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $4,151,207,910, 1.50% - 7.50%, due 01/01/27 - <br> 11/16/64)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 203050186 | &nbsp;&nbsp; 203000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $209,090,000, 2.50% - 7.50%, due 05/20/31 - <br> 12/20/64)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8946216124 | &nbsp;&nbsp; 8944000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $9,212,320,000, 1.50% - 8.00%, due 03/20/26 - <br> 03/15/65)<br>|  |  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 650161056 | &nbsp;&nbsp; 650000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $669,500,000, 2.00% - 7.00%, due 03/20/36 - <br> 12/20/54)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 41010159 | &nbsp;&nbsp; 41000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $42,689,917, 1.50% - 6.00%, due 11/01/48 - <br> 09/01/53)<br>|  |  |  |  |  |  |

---

*See financial notes*

**22**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 406100598 | &nbsp;&nbsp; 406000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $414,130,749, 0.13% - 4.00%, <br> due 09/30/26 - 10/20/48)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/24/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 817386747 | &nbsp;&nbsp; 816000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $841,746,615, 1.88% - 7.00%, <br> due 04/15/26 - 08/20/63)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/31/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4509742500 | &nbsp;&nbsp; 4500000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $4,647,331,551, 0.00% - <br> 8.00%, due 01/21/25 - 03/15/66)<br>|  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/31/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2605629000 | &nbsp;&nbsp; 2600000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,688,173,306, 0.75% - <br> 7.00%, due 04/30/26 - 08/01/59)<br>|  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/29/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3758118750 | &nbsp;&nbsp; 3750000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $3,865,779,407, 1.25% - <br> 8.00%, due 06/15/25 - 07/15/66)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 813201443 | &nbsp;&nbsp; 813000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $837,416,526, 1.00% - 2.00%, due 09/01/50 - <br> 06/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 407100846 | &nbsp;&nbsp; 407000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $423,384,879, 1.50% - 7.50%, due 01/20/27 - <br> 12/20/54)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 2036729185 | &nbsp;&nbsp; 2035000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,118,198,352, 1.50% - 8.00%, due 08/01/25 - <br> 01/01/59)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **56105000000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 22.7%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1148283811 | &nbsp;&nbsp; 1148000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,171,023,413, 0.38% - 4.88%, due 01/15/25 - <br> 02/15/42)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 696172067 | &nbsp;&nbsp; 696000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $709,920,000, 0.00% - 4.63%, due 05/22/25 - 05/15/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**23**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 627155008 | &nbsp;&nbsp; 627000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $639,698,124, 0.50% - 6.38%, due 04/15/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 77602335 | &nbsp;&nbsp; 77583155 |
| (Collateralized by U.S. Treasury Securities valued at <br> $79,154,429, 1.88% - 4.25%, due 11/15/40 - 02/15/51)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1393344381 | &nbsp;&nbsp; 1393000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,421,211,319, 0.13% - 5.38%, due 08/15/25 - <br> 11/15/54)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2438602728 | &nbsp;&nbsp; 2438000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,486,760,050, 0.63% - 4.50%, due 05/31/29 - <br> 02/15/53)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4056002486 | &nbsp;&nbsp; 4055000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $4,136,100,081, 0.13% - 2.38%, due 01/15/25 - <br> 07/15/34)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2001757778 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,040,000,002, 2.88% - 4.38%, due 12/31/26 - <br> 07/31/29)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 104025711 | &nbsp;&nbsp; 104000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $106,106,275, 0.50%, due 04/30/27)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 138034117 | &nbsp;&nbsp; 138000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $140,794,881, 0.75%, due 01/31/28)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 348086033 | &nbsp;&nbsp; 348000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $354,960,025, 0.00% - 5.00%, due 04/10/25 - 05/15/54)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23987662417 | &nbsp;&nbsp; 23982000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $23,987,662,467, 0.63% - 2.25%, due 08/15/27 - <br> 11/15/31)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9001224753 | &nbsp;&nbsp; 8999000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $9,178,980,003, 0.00% - 4.88%, due 01/16/25 - <br> 02/15/42)<br>|  |  |  |  |  |  |

---

*See financial notes*

**24**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7315812247 | &nbsp;&nbsp; 7314000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $7,460,280,147, 0.13% - 4.63%, due 01/15/31 - <br> 07/15/33)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3490064686 | &nbsp;&nbsp; 3487000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,556,740,090, 0.00% - 5.38%, due 01/14/25 - <br> 02/15/53)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 1774499663 | &nbsp;&nbsp; 1773000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,808,460,041, 0.50% - 4.63%, due 03/31/25 - <br> 02/15/54)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7315808183 | &nbsp;&nbsp; 7314000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $7,460,280,018, 0.00% - 4.75%, due 01/14/25 - <br> 11/15/53)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8708152317 | &nbsp;&nbsp; 8706000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,880,124,745, 0.00% - 7.63%, due 01/15/25 - <br> 11/15/54)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1219301364 | &nbsp;&nbsp; 1219000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,243,383,156, 0.00% - 6.13%, due 02/04/25 - <br> 11/15/54)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 418103339 | &nbsp;&nbsp; 418000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $426,465,406, 0.00% - 4.88%, due 01/30/25 - 11/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **76236583155** |
| **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** | **OTHER REPURCHASE AGREEMENTS\*\* 5.7%** |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2250551250 | &nbsp;&nbsp; 2250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,295,562,282, 0.00% - 4.75%, due 01/15/25 - <br> 05/15/54)<br>|  |  |  |  |  |  |
| **BMO CAPITAL MARKETS CORP** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 100085944 | &nbsp;&nbsp; 100000000 |
| (Collateralized by U.S. Treasury Securities, common <br> stocks, ETFs, corporate bonds, asset backed securities, or <br> non-agency collateralized mortgage obligations valued at <br> $104,046,432, 1.75% - 6.32%, due 06/15/25 - 11/01/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**25**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BNP PARIBAS SA** |  |  |  |  |  |
| Issued 12/27/24, repurchase date 01/03/25 | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 1651418083 | &nbsp;&nbsp; 1650000000 |
| (Collateralized by U.S. Treasury Securities, common <br> stocks, ETFs, corporate bonds, asset backed securities, or <br> non-agency collateralized mortgage obligations valued at <br> $1,836,922,574, 0.00% - 15.33%, due 01/10/25 - <br> 01/01/00)<br>|  |  |  |  |  |
| Issued 11/06/24, repurchase date 02/11/25 | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 581943125 | &nbsp;&nbsp; 575000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $668,974,207, 0.00% - <br> 14.86%, due 01/29/25 - 01/01/00)<br>|  |  |  |  |  |
| Issued 10/10/24, repurchase date 02/07/25 | &nbsp;&nbsp; 4.97% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 914537250 | &nbsp;&nbsp; 900000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,050,846,286, 0.01% - <br> 14.86%, due 01/29/25 - 01/01/00)<br>|  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |
| Issued 12/05/24, repurchase date 02/13/25<br> *(a)* | &nbsp;&nbsp; 4.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 252168194 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $262,500,208, 1.05% - <br> 8.35%, due 01/15/25 - 05/15/64) <br>(SOFR + 0.29%)<br>|  |  |  |  |  |
| Issued 12/20/24, repurchase date 04/22/25<br> *(a)* | &nbsp;&nbsp; 4.87% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 276730014 | &nbsp;&nbsp; 273000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, American depositary receipts, or <br> non-agency collateralized mortgage obligations valued at <br> $294,840,001, 0.00%, due 01/01/00) <br>(SOFR + 0.50%)<br>|  |  |  |  |  |
| Issued 12/11/24, repurchase date 04/10/25<br> *(a)* | &nbsp;&nbsp; 4.87% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 456696250 | &nbsp;&nbsp; 450000000 |
| (Collateralized by U.S. Treasury Securities and common <br> stocks, ETFs, corporate bonds, asset backed securities, <br> American depositary receipts, or non-agency <br> collateralized mortgage obligations valued at <br> $473,939,434, 0.00% - 4.50%, due 04/30/25 - 01/01/00) <br>(SOFR + 0.50%)<br>|  |  |  |  |  |
| Issued 12/06/24, repurchase date 04/25/25<br> *(a)* | &nbsp;&nbsp; 4.71% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 634976042 | &nbsp;&nbsp; 625000000 |
| (Collateralized by U.S. Government Agency Securities, <br> common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage <br> obligations valued at $656,249,983, 0.75% - 8.38%, due <br> 01/09/25 - 12/31/99) <br>(SOFR + 0.34%)<br>|  |  |  |  |  |
| Issued 12/03/24, repurchase date 04/10/25<br> *(a)* | &nbsp;&nbsp; 4.83% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 838835938 | &nbsp;&nbsp; 825000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $948,750,000, 0.00% - <br> 13.75%, due 01/21/25 - 07/20/17) <br>(SOFR + 0.46%)<br>|  |  |  |  |  |

---

*See financial notes*

**26**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/06/24, repurchase date 04/25/25<br> *(a)* | &nbsp;&nbsp; 4.83% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 254092083 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Government Agency Securities, <br> common stocks, ETFs, corporate bonds, asset backed <br> securities, or non-agency collateralized mortgage <br> obligations valued at $262,504,327, 0.40% - 14.75%, due <br> 01/01/25 - 01/01/00) <br>(SOFR + 0.46%)<br>|  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |
| Issued 11/20/24, repurchase date 02/18/25<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 251513333 | &nbsp;&nbsp; 250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $255,002,912, 0.00% - 4.25%, due 01/14/25 - 02/15/54) <br>(SOFR + 0.17%)<br>|  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |
| Issued 12/27/24, repurchase date 01/03/25 | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 150128042 | &nbsp;&nbsp; 150000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $163,774,817, 1.50% - <br> 6.50%, due 07/15/27 - 07/25/68)<br>|  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 990843150 | &nbsp;&nbsp; 990000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities, common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,046,291,824, 0.00% - <br> 10.25%, due 02/15/25 - 01/01/00)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/17/25<br> *(a)* | &nbsp;&nbsp; 4.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 200304667 | &nbsp;&nbsp; 200000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $230,149,819, 1.50% - <br> 17.77%, due 06/16/25 - 01/01/00) <br>(SOFR + 0.20%)<br>|  |  |  |  |  |
| Issued 10/31/24, repurchase date 04/29/25<br> *(a)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 408003000 | &nbsp;&nbsp; 400000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $435,663,841, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 11/06/24, repurchase date 05/05/25<br> *(a)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 1019212500 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $1,158,744,153, 0.00% - <br> 17.27%, due 01/07/25 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 11/06/24, repurchase date 05/05/25<br> *(a)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 764409375 | &nbsp;&nbsp; 750000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $816,158,926, 0.00%, due <br> 12/31/49 - 01/01/00) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**27**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 11/27/24, repurchase date 05/27/25<br> *(a)* | &nbsp;&nbsp; 4.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 813144000 | &nbsp;&nbsp; 800000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $924,287,215, 0.00% - <br> 9.95%, due 04/09/25 - 12/31/99) <br>(SOFR + 0.40%)<br>|  |  |  |  |  |
| Issued 10/02/24, repurchase date 04/02/25<br> *(a)* | &nbsp;&nbsp; 4.82% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 1843380000 | &nbsp;&nbsp; 1800000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $2,096,559,825, 0.00% - <br> 18.88%, due 03/24/25 - 01/01/00) <br>(SOFR + 0.45%)<br>|  |  |  |  |  |
| Issued 11/06/24, repurchase date 05/05/25<br> *(a)* | &nbsp;&nbsp; 4.82% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 310921236 | &nbsp;&nbsp; 305000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $353,443,760, 1.75% - <br> 11.49%, due 03/10/28 - 06/25/67) <br>(SOFR + 0.45%)<br>|  |  |  |  |  |
| Issued 12/27/24, repurchase date 06/25/25<br> *(a)* | &nbsp;&nbsp; 4.82% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 759439167 | &nbsp;&nbsp; 750000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $862,975,573, 0.00% - <br> 14.35%, due 02/15/25 - 01/01/00) <br>(SOFR + 0.45%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 250061528 | &nbsp;&nbsp; 250000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, American depositary receipts, or <br> non-agency collateralized mortgage obligations valued at <br> $270,000,030, 0.00%, due 01/01/00)<br>|  |  |  |  |  |
| **RBC CAPITAL MARKETS LLC** |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 700601611 | &nbsp;&nbsp; 700000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $735,640,999, 0.00% - <br> 8.75%, due 02/15/25 - 01/01/00)<br>|  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |
| Issued 12/30/24, repurchase date 06/25/25 | &nbsp;&nbsp; 4.96% |  | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 228038000 | &nbsp;&nbsp; 225000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $265,060,110, 0.00% - <br> 13.43%, due 10/27/25 - 11/25/69)<br>|  |  |  |  |  |
| Issued 12/11/24, repurchase date 04/10/25 | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 04/10/25 | &nbsp;&nbsp; 355588333 | &nbsp;&nbsp; 350000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $408,926,959, 0.39% - <br> 10.12%, due 11/20/25 - 01/25/66)<br>|  |  |  |  |  |
| Issued 11/26/24, repurchase date 05/23/25 | &nbsp;&nbsp; 5.11% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 512633056 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $589,528,014, 0.00% - <br> 15.59%, due 04/15/25 - 12/26/69)<br>|  |  |  |  |  |

---

*See financial notes*

**28**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/11/24, repurchase date 06/09/25 |  | &nbsp;&nbsp; 4.94% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 307410000 | &nbsp;&nbsp; 300000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $353,521,501, 0.62% - <br> 10.46%, due 09/15/25 - 01/25/65)<br>|  |  |  |  |  |  |
| Issued 12/11/24, repurchase date 06/09/25 |  | &nbsp;&nbsp; 4.94% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 184446000 | &nbsp;&nbsp; 180000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $193,668,997, 0.38% - <br> 8.50%, due 05/05/25 - 12/31/99)<br>|  |  |  |  |  |  |
| Issued 12/12/24, repurchase date 06/10/25 |  | &nbsp;&nbsp; 4.90% |  | &nbsp;&nbsp; 06/10/25 | &nbsp;&nbsp; 614700000 | &nbsp;&nbsp; 600000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $645,435,073, 1.05% - <br> 9.25%, due 01/10/25 - 01/01/00)<br>|  |  |  |  |  |  |
| Issued 12/18/24, repurchase date 06/16/25 |  | &nbsp;&nbsp; 4.87% |  | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 512175000 | &nbsp;&nbsp; 500000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $589,001,296, 0.42% - <br> 10.94%, due 11/17/25 - 08/25/66)<br>|  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 06/18/25 |  | &nbsp;&nbsp; 4.94% |  | &nbsp;&nbsp; 06/18/25 | &nbsp;&nbsp; 153705000 | &nbsp;&nbsp; 150000000 |
| (Collateralized by common stocks, ETFs, corporate bonds, <br> asset backed securities, or non-agency collateralized <br> mortgage obligations valued at $176,760,750, 1.89% - <br> 9.84%, due 12/16/30 - 06/25/64)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **19298000000** |
| **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | **Total Repurchase Agreements** <br>**(Cost $151,639,583,155)** | &nbsp;&nbsp; **151639583155** |
| **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | **Total Investments in Securities** <br>**(Cost $323,481,557,678)** | &nbsp;&nbsp; **323481557678** |

---

&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 $78,177,400,896 or 23.2% of net assets. 

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

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

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**29**

------

Schwab Value Advantage Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | |
|:---|:---|
| CP — | Commercial paper |
| 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 |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| S/F — | Single-family |
| SIFMA — | Securities Industry and Financial Markets Association. The SIFMA Municipal Swap Index is a market index comprised of high-grade 7-day tax-exempt Variable Rate <br> Demand Obligations with certain characteristics.<br>|
| SOFR — | Secured Overnight Financing Rate is published daily by the Federal Reserve Bank of New York and is based on the cost of borrowing cash overnight collateralized by <br> U.S. Treasury securities.<br>|
| VRDN — | Variable rate demand note |

---

------

At December 31, 2024, 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*

**30**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $171841974523 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 151639583155 |
| Cash |  | 11692000001 |
| Receivables: |  |  |
| Fund shares sold |  | 2747556510 |
| Interest |  | 1015051968 |
| Prepaid expenses | + | 2981418 |
| **Total assets** |  | **338939147575** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 1052390465 |
| Investments bought |  | 803375000 |
| Distributions to shareholders |  | 268580740 |
| Investment adviser and administrator fees |  | 47091130 |
| Shareholder service fees |  | 5309313 |
| Independent trustees' fees |  | 927 |
| Accrued expenses | + | 11717529 |
| **Total liabilities** |  | **2188465104** |
| **Net assets** |  | **$336750682471** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $336750682471 |
| **Net assets** |  | **$336750682471** |

---

&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 | $218570255451 |  | &nbsp;&nbsp;&nbsp;&nbsp; 218568530429 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $118180427020 |  | &nbsp;&nbsp;&nbsp;&nbsp; 118179218668 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**31**

------

Schwab Value Advantage Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| Interest received from securities - unaffiliated issuers |  | $15507085633 |
| Other Interest | + | 542308581 |
| **Total investment income**  |  | **16049394214** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 572362243 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 292745360 |
| Registration fees |  | 17458468 |
| Custodian fees |  | 2232077 |
| Shareholder reports |  | 2076052 |
| Portfolio accounting fees |  | 1851451 |
| Professional fees |  | 419712 |
| Independent trustees' fees |  | 288996 |
| Transfer agent fees  |  | 1321 |
| Other expenses | + | 1447969 |
| **Total expenses** |  | **890883649** |
| Expense reduction | – | 25776046 |
| **Net expenses** | – | **865107603** |
| **Net investment income** |  | **15184286611** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **100864** |
| **Increase in net assets resulting from operations** |  | **$15184387475** |

---

*See financial notes*

**32**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $15184286611 | &nbsp;&nbsp;&nbsp; $10782111771 |
| Net realized gains | + | 100864 | &nbsp;&nbsp;&nbsp; 263029 |
| **Increase in net assets from operations** |  | **$15184387475** | &nbsp;&nbsp;&nbsp; **$10782374800** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($9733563689)<br>| &nbsp;&nbsp;&nbsp; ($6570789959)<br>|
| Ultra Shares | + | (5452175768)<br>| &nbsp;&nbsp;&nbsp; (4210185687)<br>|
| **Total distributions** |  | **($15185739457)**<br>| &nbsp;&nbsp;&nbsp; **($10780975646)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 250955380568 | &nbsp;&nbsp;&nbsp; 221635316442 |
| Ultra Shares | + | 144618313965 | &nbsp;&nbsp;&nbsp; 137943618156 |
| **Total shares sold** |  | **395573694533** | &nbsp;&nbsp;&nbsp; **359578934598** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 7649866143 | &nbsp;&nbsp;&nbsp; 5041927370 |
| Ultra Shares | + | 4276225628 | &nbsp;&nbsp;&nbsp; 3322798144 |
| **Total shares reinvested** |  | **11926091771** | &nbsp;&nbsp;&nbsp; **8364725514** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (209940494625)<br>| &nbsp;&nbsp;&nbsp; (151061896319)<br>|
| Ultra Shares | + | (126212471344)<br>| &nbsp;&nbsp;&nbsp; (114832941050)<br>|
| **Total shares redeemed** |  | **(336152965969)**<br>| &nbsp;&nbsp;&nbsp; **(265894837369)**<br>|
| **Net transactions in fund shares** |  | **71346820335** | &nbsp;&nbsp;&nbsp; **102048822743** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $265405214118 | &nbsp;&nbsp;&nbsp; $163354992221 |
| Total increase | + | 71345468353 | &nbsp;&nbsp;&nbsp; 102050221897 |
| **End of period** |  | **$336750682471** | &nbsp;&nbsp;&nbsp; **$265405214118** |

---

&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 Value Advantage Money Fund \| Annual Holdings and Financial Statements

**33**

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Schwab Value Advantage Money Fund

Financial Notes

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&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 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 Value 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 a 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 Value 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).

In this reporting period, the fund adopted FASB Accounting Standards Update 2023-07, ASC Topic 280 Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the fund's financial position or the results of operations. An operating segment is defined in Topic 280 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, subscriptions and redemptions), 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.

**34**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

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Schwab Value Advantage Money Fund

Financial Notes (continued)

------

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

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

**(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.

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 December 31, 2024, all of the fund's investments were classified as Level 2.

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**35**

------

Schwab Value Advantage Money Fund

Financial Notes (continued)

------

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

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

**(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 December 31, 2024, the fund had investments in repurchase agreements with a gross value of $151,639,583,155 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.

**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.

**36**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Financial Notes (continued)

------

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

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

**(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 respective shareholders each year. As long as the fund meets the tax requirements, it is not required to pay federal income tax.

**(i) 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.

------

**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 fund.

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.

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 |

---

Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

**37**

------

Schwab Value Advantage Money Fund

Financial Notes (continued)

------

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

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

**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 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 December 31, 2024, the fund's purchases and sales of securities with other funds in the Fund Complex was $74,518,834 and $0 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 billion line of credit (the Syndicated Credit Facility), which matured on September 26, 2024. On September 26, 2024, the Syndicated Credit Facility was amended to run for a new 364 day period with the line of credit amount increasing to $1.2 billion, 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, which matured on September 26, 2024. On September 26, 2024, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, 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 December 31, 2024, the tax basis cost of the fund's investments was $323,481,557,678.

**38**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

------

Schwab Value Advantage Money Fund

Financial Notes (continued)

------

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

**6. Federal Income Taxes (continued):** 

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

---

| | |
|:---|:---|
| CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
| ORDINARY <br>INCOME<br>| ORDINARY <br>INCOME <br>|
| $15185739457 | &nbsp;&nbsp; $10780975646 |

---

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.

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

As of December 31, 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 Value Advantage Money Fund \| Annual Holdings and Financial Statements

**39**

------

Schwab Value Advantage Money Fund

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Value Advantage Money Fund:

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

We have audited the accompanying statement of assets and liabilities, including the portfolio holdings, of Schwab Value Advantage Money Fund, (the "Fund") one of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2024, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of December 31, 2024, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 14, 2025

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

**40**Schwab Value Advantage Money Fund \| Annual Holdings and Financial Statements

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g109284img31b47caf1.jpg)

MFR13860-28

00308800

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g106147img9afbbc631.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2024

Schwab Government Money Funds

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Schwab Government

Money Fund

Schwab U.S. Treasury

Money Fund

Schwab Treasury Obligations

Money Fund

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**In This Report**

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

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| | |
|:---|:---|
| [Financial Statements and Portfolio Holdings](#xx_d9a01530-980d-42db-8d67-2472747e911d_1) <br>|  |
| [Schwab Government Money Fund](#xx_d9a01530-980d-42db-8d67-2472747e911d_1) | 2 |
| [Schwab U.S.](#xx_b9685802-3332-4dea-9c84-b3a0a7c18e7f_1)[Treasury Money Fund](#xx_b9685802-3332-4dea-9c84-b3a0a7c18e7f_1) | 20 |
| [Schwab Treasury Obligations Money Fund](#xx_954f3c97-e37a-4b5d-b1e8-5b61c597d49b_1) | 29 |
| [Financial Notes](#xx_9d632440-be3d-4f91-98e2-e4d4c1e862dc_1) | 38 |
| [Report of Independent Registered Public Accounting Firm](#xx_72f72212-50d0-484a-b70b-872ba45fa359_1) | 48  |

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

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

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**1**

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Schwab Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sweep Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.44<br> %<br>| 0.44<br> %<br>| 0.35 %<sup>4,5</sup><br>| 0.06 %<sup>5</sup><br>| 0.30 %<sup>5,6</sup><br>|
| Total expenses | 0.45<br> %<br>| 0.45<br> %<br>| 0.45 %<sup>4</sup><br>| 0.45<br> %<br>| 0.52<br> %<br>|
| Net investment income (loss) | 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; $20322 | &nbsp;&nbsp; $18265 | &nbsp;&nbsp; $20458 | &nbsp;&nbsp; $24159 | &nbsp;&nbsp; $20119 |

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

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

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

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

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

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

<sup>6</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 \| Annual Holdings and Financial Statements

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Schwab Government Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>4,5</sup><br>| 0.06 %<sup>5</sup><br>| 0.27 %<sup>5,6</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>| 0.43<br> %<br>|
| Net investment income (loss) | 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; $28152 | &nbsp;&nbsp; $21646 | &nbsp;&nbsp; $10823 | &nbsp;&nbsp; $6782 | &nbsp;&nbsp; $11980 |

---

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

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

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

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

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

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

<sup>6</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 \| Annual Holdings and Financial Statements

**3**

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Schwab Government Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>7,8</sup><br>| 0.06 %<sup>8</sup><br>| 0.13 %<sup>8,9</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>7</sup><br>| 0.20<br> %<br>| 0.20 %<sup>9</sup><br>|
| Net investment income (loss) | 4.97<br> %<br>| 4.92<br> %<br>| 1.76<br> %<br>| 0.03<br> %<br>| 0.01 %<sup>9</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $26324 | &nbsp;&nbsp; $16202 | &nbsp;&nbsp; $8636 | &nbsp;&nbsp; $4726 | &nbsp;&nbsp; $1647 |

---

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

<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> 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.

<sup>9</sup> Annualized.

*See financial notes*

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

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Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024

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For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 34.0% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 45200000 | &nbsp;&nbsp; 45200000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 9650000 | &nbsp;&nbsp; 9646224 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 172600000 | &nbsp;&nbsp; 172600000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 38200000 | &nbsp;&nbsp; 38200000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 130500000 | &nbsp;&nbsp; 129983220 |
|  | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48273666 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96335360 |
|  | &nbsp;&nbsp; 4.64% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 74554479 |
|  | &nbsp;&nbsp; 5.02% |  | &nbsp;&nbsp; 02/21/25 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 47972634 |
|  | &nbsp;&nbsp; 4.73% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 48128167 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 71600000 | &nbsp;&nbsp; 71600000 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 24760528 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 03/19/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 34655678 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 29697100 |
|  | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 47864050 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/04/25 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19296449 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 47739183 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 47840980 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 47818393 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 71670417 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 91400000 | &nbsp;&nbsp; 91400000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 71900000 | &nbsp;&nbsp; 71900000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 239600000 | &nbsp;&nbsp; 239600000 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 23858518 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/20/25 | &nbsp;&nbsp; 144200000 | &nbsp;&nbsp; 144200000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 38300000 | &nbsp;&nbsp; 38300000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp; 23900000 | &nbsp;&nbsp; 23487088 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 23756132 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 47495081 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 29100000 | &nbsp;&nbsp; 28549040 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 143800000 | &nbsp;&nbsp; 143800000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 33800000 | &nbsp;&nbsp; 33800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 86400000 | &nbsp;&nbsp; 86400000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 48400000 | &nbsp;&nbsp; 47401105 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 17720000 | &nbsp;&nbsp; 17708532 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 47800000 | &nbsp;&nbsp; 46684667 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 143700000 | &nbsp;&nbsp; 143700000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 134200000 | &nbsp;&nbsp; 134200000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 18160000 | &nbsp;&nbsp; 18169394 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**5**

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Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/07/25 | &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; 24049748 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &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; 65439270 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 30750000 | &nbsp;&nbsp; 30087873 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 48300000 | &nbsp;&nbsp; 47075421 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 142986000 | &nbsp;&nbsp; 142885669 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &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; 50254544 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 09/05/25 | &nbsp;&nbsp; 58100000 | &nbsp;&nbsp; 58059433 |
| <br>(EFFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 96200000 | &nbsp;&nbsp; 96200000 |
| <br>(EFFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 72800000 | &nbsp;&nbsp; 72800000 |
| <br>(EFFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 52800000 | &nbsp;&nbsp; 52800000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 228400000 | &nbsp;&nbsp; 228450348 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 138860000 | &nbsp;&nbsp; 139675707 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &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; 24891227 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 192400000 | &nbsp;&nbsp; 192400000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 149900000 | &nbsp;&nbsp; 149942272 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38524801 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 168200000 | &nbsp;&nbsp; 168200000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 18900000 | &nbsp;&nbsp; 18900000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14400000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/25 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
| <br>(EFFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 212900000 | &nbsp;&nbsp; 212900000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 99600000 | &nbsp;&nbsp; 99643645 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38800000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 86700000 | &nbsp;&nbsp; 86700000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 96300000 | &nbsp;&nbsp; 96300000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 144600000 | &nbsp;&nbsp; 144600000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 144900000 | &nbsp;&nbsp; 144900000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 97000000 | &nbsp;&nbsp; 97000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 58000000 | &nbsp;&nbsp; 58000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 200000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 17400000 | &nbsp;&nbsp; 17400000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>*(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 10/06/26 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 48100000 | &nbsp;&nbsp; 48100000 |
|  | &nbsp;&nbsp; 5.15% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 53200000 | &nbsp;&nbsp; 53200000 |

---

*See financial notes*

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

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 120400000 | &nbsp;&nbsp; 120384682 |
|  | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 193400000 | &nbsp;&nbsp; 193204666 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 120700000 | &nbsp;&nbsp; 120700000 |
|  | &nbsp;&nbsp; 4.77% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 712000000 | &nbsp;&nbsp; 711991081 |
|  | &nbsp;&nbsp; 4.80% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 144498758 |
|  | &nbsp;&nbsp; 4.91% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 120900000 | &nbsp;&nbsp; 120569238 |
|  | &nbsp;&nbsp; 5.20% |  | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 168600000 | &nbsp;&nbsp; 167966485 |
|  | &nbsp;&nbsp; 5.20% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 49797806 |
|  | &nbsp;&nbsp; 5.21% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 192600000 | &nbsp;&nbsp; 191821147 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 124491250 |
|  | &nbsp;&nbsp; 4.90% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 143825185 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 87600000 | &nbsp;&nbsp; 87179520 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 140200000 | &nbsp;&nbsp; 139470960 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 143698386 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 144428222 |
|  | &nbsp;&nbsp; 5.05% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 192700000 | &nbsp;&nbsp; 191594036 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 38800000 | &nbsp;&nbsp; 38517536 |
|  | &nbsp;&nbsp; 4.82% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 144119470 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 338400000 | &nbsp;&nbsp; 335573420 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 242000000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 120900000 | &nbsp;&nbsp; 119948920 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96400000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 24010000 | &nbsp;&nbsp; 23991504 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 193500000 | &nbsp;&nbsp; 193500000 |
|  | &nbsp;&nbsp; 4.81% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 96900000 | &nbsp;&nbsp; 95967822 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 236900000 | &nbsp;&nbsp; 234719059 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 120800000 | &nbsp;&nbsp; 119535828 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 193600000 | &nbsp;&nbsp; 191620709 |
|  | &nbsp;&nbsp; 4.96% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 35800000 | &nbsp;&nbsp; 35391920 |
|  | &nbsp;&nbsp; 4.99% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 177400000 | &nbsp;&nbsp; 175378995 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 221900000 | &nbsp;&nbsp; 219369415 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 217400000 | &nbsp;&nbsp; 214712695 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 120800000 | &nbsp;&nbsp; 120800000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 121100000 | &nbsp;&nbsp; 121100000 |
|  | &nbsp;&nbsp; 4.59% |  | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 190200000 | &nbsp;&nbsp; 187867197 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 145300000 | &nbsp;&nbsp; 145300000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/16/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 193600000 | &nbsp;&nbsp; 191245340 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 72000000 | &nbsp;&nbsp; 72000000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 144500000 | &nbsp;&nbsp; 142278975 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 71700000 | &nbsp;&nbsp; 71700000 |
|  | &nbsp;&nbsp; 4.66% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8176263 |
|  | &nbsp;&nbsp; 4.67% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 100100000 | &nbsp;&nbsp; 98607704 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 120500000 | &nbsp;&nbsp; 120500000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 212800000 | &nbsp;&nbsp; 209709967 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**7**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 120800000 | &nbsp;&nbsp; 120800000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 05/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 147809896 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 121100000 | &nbsp;&nbsp; 121100000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 145300000 | &nbsp;&nbsp; 145300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 143800000 | &nbsp;&nbsp; 143800000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 121100000 | &nbsp;&nbsp; 119189614 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 239300000 | &nbsp;&nbsp; 239300000 |
|  | &nbsp;&nbsp; 5.18% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 146300000 | &nbsp;&nbsp; 143520788 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 193600000 | &nbsp;&nbsp; 190411489 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 168900000 | &nbsp;&nbsp; 168900000 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48038545 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
|  | &nbsp;&nbsp; 5.14% |  | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4602322 |
|  | &nbsp;&nbsp; 5.15% |  | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2545965 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 118850990 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 121000000 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 118793464 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 118796119 |
|  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp; 10095000 | &nbsp;&nbsp; 10009297 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 94844085 |
|  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 435500000 | &nbsp;&nbsp; 427316229 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 240300000 | &nbsp;&nbsp; 240300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/17/25 | &nbsp;&nbsp; 239900000 | &nbsp;&nbsp; 239900000 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 237130538 |
|  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 145100000 | &nbsp;&nbsp; 142127546 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 236663268 |
|  | &nbsp;&nbsp; 5.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 96700000 | &nbsp;&nbsp; 96700000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 96400000 | &nbsp;&nbsp; 96450434 |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 193400000 | &nbsp;&nbsp; 189209935 |
|  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 47834116 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 217800000 | &nbsp;&nbsp; 217800000 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 154600000 | &nbsp;&nbsp; 151080617 |
|  | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 22700000 | &nbsp;&nbsp; 22112814 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2605552 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 95900000 | &nbsp;&nbsp; 95900000 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 121000000 | &nbsp;&nbsp; 120985559 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96809356 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 143900000 | &nbsp;&nbsp; 143900000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &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; 48261611 |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 23494200 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 273800000 | &nbsp;&nbsp; 273837567 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 96800000 | &nbsp;&nbsp; 96677462 |
|  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 242000000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 145300000 | &nbsp;&nbsp; 145213123 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 241900000 | &nbsp;&nbsp; 241900000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |

---

*See financial notes*

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

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/13/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 100000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 48900000 | &nbsp;&nbsp; 48900000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 72500000 | &nbsp;&nbsp; 72500000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/24/26 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 145200000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 72600000 | &nbsp;&nbsp; 72600000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 72500000 | &nbsp;&nbsp; 72500000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 167182000 | &nbsp;&nbsp; 166901784 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 01/17/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 241544233 |
|  | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 242000000 | &nbsp;&nbsp; 241153941 |
|  | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 72800000 | &nbsp;&nbsp; 72536100 |
|  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 24118823 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 224040000 | &nbsp;&nbsp; 218758807 |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/06/25 | &nbsp;&nbsp; 73100000 | &nbsp;&nbsp; 71523619 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 69945000 | &nbsp;&nbsp; 69743346 |
|  | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 21993000 | &nbsp;&nbsp; 21923937 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 513000000 | &nbsp;&nbsp; 499999067 |
|  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 32345000 | &nbsp;&nbsp; 31491176 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 153800000 | &nbsp;&nbsp; 153800000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 65800000 | &nbsp;&nbsp; 65800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 130600000 | &nbsp;&nbsp; 130600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 68600000 | &nbsp;&nbsp; 68600000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 41389000 | &nbsp;&nbsp; 41371498 |
|  | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 145200000 | &nbsp;&nbsp; 144711039 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 06/17/25 | &nbsp;&nbsp; 214184000 | &nbsp;&nbsp; 210167065 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 23648046 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 96600000 | &nbsp;&nbsp; 96600000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 42500000 | &nbsp;&nbsp; 42500000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 239100000 | &nbsp;&nbsp; 239100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; 113000000 | &nbsp;&nbsp; 113000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 52200000 | &nbsp;&nbsp; 52200000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 140600000 | &nbsp;&nbsp; 140600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 52900000 | &nbsp;&nbsp; 52900000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $25,436,695,186)**<br>|  |  |  |  | &nbsp;&nbsp; **25436695186** |
| **U.S. TREASURY DEBT** 7.9% OF NET ASSETS | **U.S. TREASURY DEBT** 7.9% OF NET ASSETS | **U.S. TREASURY DEBT** 7.9% OF NET ASSETS | **U.S. TREASURY DEBT** 7.9% OF NET ASSETS | **U.S. TREASURY DEBT** 7.9% OF NET ASSETS | **U.S. TREASURY DEBT** 7.9% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
| <br>(3 mo. US TBILL + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 425900000 | &nbsp;&nbsp; 425931072 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 84100000 | &nbsp;&nbsp; 83607018 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 72300000 | &nbsp;&nbsp; 72046666 |
|  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 03/15/25 | &nbsp;&nbsp; 72300000 | &nbsp;&nbsp; 71842111 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 502700000 | &nbsp;&nbsp; 501343658 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54180198 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 406700000 | &nbsp;&nbsp; 405279452 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**9**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 303300000 | &nbsp;&nbsp; 303345285 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 244100000 | &nbsp;&nbsp; 241526964 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 188600000 | &nbsp;&nbsp; 187206500 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 05/31/25 | &nbsp;&nbsp; 50600000 | &nbsp;&nbsp; 49654332 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 227400000 | &nbsp;&nbsp; 222943893 |
| <br>(3 mo. US TBILL + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 466500000 | &nbsp;&nbsp; 466465673 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 117600000 | &nbsp;&nbsp; 117764114 |
|  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 117500000 | &nbsp;&nbsp; 115893927 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 34800000 | &nbsp;&nbsp; 33812405 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 119800000 | &nbsp;&nbsp; 116327560 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 120600000 | &nbsp;&nbsp; 121243182 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 82300000 | &nbsp;&nbsp; 82294746 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 144700000 | &nbsp;&nbsp; 139976475 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 344100000 | &nbsp;&nbsp; 343944967 |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 48500000 | &nbsp;&nbsp; 47673412 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 291600000 | &nbsp;&nbsp; 281595074 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 418900000 | &nbsp;&nbsp; 403202937 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 168800000 | &nbsp;&nbsp; 166102278 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 225200000 | &nbsp;&nbsp; 225219191 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 102000000 | &nbsp;&nbsp; 101608297 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 448400000 | &nbsp;&nbsp; 448884462 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 14400000 | &nbsp;&nbsp; 14401189 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 117400000 | &nbsp;&nbsp; 117392188 |
| **Total U.S. Treasury Debt** <br>**(Cost $5,962,709,226)**<br>|  |  |  |  | &nbsp;&nbsp; **5962709226** |
| **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>*(b)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 56900000 | &nbsp;&nbsp; 56900000 |
| **FARR LIFE LLC** |  |  |  |  |  |
| TAXABLE VARIABLE RATE DEMAND NOTES SERIES 2022 <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(b)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **RIVERSIDE HOME LENDING** |  |  |  |  |  |
| TAXABLE S/F RENTAL HOUSING RB SERIES 2021A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(b)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &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** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.6% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 20.5%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 362089696 | &nbsp;&nbsp; 362000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $373,617,346, 1.50% - 8.75%, due 10/01/25 - <br> 04/20/71)<br>|  |  |  |  |  |  |

---

*See financial notes*

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

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 45011150 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $46,361,485, 3.50%, due 06/20/49)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 180044600 | &nbsp;&nbsp; 180000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $185,445,939, 3.00% - 7.00%, due 06/01/38 - <br> 12/15/59)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 539474769 | &nbsp;&nbsp; 539000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $555,659,012, 1.50% - 6.50%, due 10/01/27 - <br> 03/15/65)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 407100846 | &nbsp;&nbsp; 407000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $419,210,000, 1.50% - 9.21%, due 07/20/36 - <br> 10/20/68)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 470116456 | &nbsp;&nbsp; 470000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $484,100,000, 1.25% - 11.07%, due 07/25/44 - <br> 01/25/55)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 90022300 | &nbsp;&nbsp; 90000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $92,700,000, 1.50% - 7.23%, due 05/01/28 - <br> 12/01/54)<br>|  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 486105800 | &nbsp;&nbsp; 485000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $499,401,268, 0.00% - 8.00%, <br> due 01/31/25 - 10/20/74)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 10/23/24, repurchase date 01/21/25 |  | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 247878750 | &nbsp;&nbsp; 245000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $249,900,097, 3.13% - 4.13%, due 08/31/27 - 07/31/31)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 45011150 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $45,911,429, 1.25%, due 12/31/26)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 335083006 | &nbsp;&nbsp; 335000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $349,375,836, 0.00% - 7.00%, <br> due 01/14/25 - 12/25/54)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1357336234 | &nbsp;&nbsp; 1357000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $1,397,433,532, 1.50% - <br> 7.00%, due 06/01/28 - 12/01/62)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**11**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 514127358 | &nbsp;&nbsp; 514000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $524,753,988, 2.00% - 7.00%, due 07/01/29 - <br> 06/15/64)<br>|  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 539474769 | &nbsp;&nbsp; 539000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $552,180,862, 1.50% - 6.50%, due 06/01/30 - <br> 01/16/64)<br>|  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 541459700 | &nbsp;&nbsp; 541000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $551,822,285, 0.63% - 2.21%, <br> due 08/15/29 - 10/16/48)<br>|  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 543467734 | &nbsp;&nbsp; 543000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $553,860,001, 2.00% - 7.00%, <br> due 12/15/27 - 12/01/54)<br>|  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 904780453 | &nbsp;&nbsp; 904000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $923,157,546, 1.00% - 6.50%, <br> due 11/30/26 - 11/01/54)<br>|  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 45011125 | &nbsp;&nbsp; 45000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $46,350,000, 0.00% - 5.50%, due 07/20/35 - <br> 09/15/65)<br>|  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1990493078 | &nbsp;&nbsp; 1990000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $2,049,700,000, 2.00% - 7.50%, due 09/01/25 - <br> 12/20/64)<br>|  |  |  |  |  |
| Issued 10/01/24, repurchase date 04/09/25<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 445267933 | &nbsp;&nbsp; 435000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $453,526,416, 1.00% - 6.50%, due 12/25/27 - <br> 09/20/62) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 10/22/24, repurchase date 04/30/25<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 988296809 | &nbsp;&nbsp; 968000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $1,006,314,134, 0.13% - 11.07%, due 06/25/26 - <br> 06/16/64) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 145035928 | &nbsp;&nbsp; 145000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $147,900,092, 0.75%, due 08/31/26)<br>|  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9002230 | &nbsp;&nbsp; 9000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $9,360,000, 2.50% - 6.00%, due 10/01/38 - <br> 07/01/53)<br>|  |  |  |  |  |

---

*See financial notes*

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

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 90022300 | &nbsp;&nbsp; 90000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $91,838,412, 0.00% - 4.13%, due 02/06/25 - 02/15/49)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1945192560 | &nbsp;&nbsp; 1941000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $2,006,807,585, 0.00% - <br> 7.00%, due 01/23/25 - 08/20/63)<br>|  |  |  |  |  |  |
| Issued 12/24/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 179304201 | &nbsp;&nbsp; 179000000 |
| (Collateralized by U.S. Treasury and U.S. Government <br> Agency Securities valued at $184,683,183, 0.50% - 7.00%, <br> due 10/31/27 - 08/20/63)<br>|  |  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/31/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 486050025 | &nbsp;&nbsp; 485000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $502,073,560, 0.50% - 7.24%, due 07/01/28 - <br> 01/01/55)<br>|  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/29/25 |  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 243526095 | &nbsp;&nbsp; 243000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $251,494,174, 1.71% - 7.00%, due 07/25/28 - <br> 12/25/54)<br>|  |  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 459108630 | &nbsp;&nbsp; 459000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $472,770,000, 1.50% - 2.00%, due 11/01/50 - <br> 10/01/51)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 181044848 | &nbsp;&nbsp; 181000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $186,430,000, 2.00%, due 10/01/51)<br>|  |  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 90022300 | &nbsp;&nbsp; 90000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $93,623,192, 5.50%, due 10/01/54)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 450382375 | &nbsp;&nbsp; 450000000 |
| (Collateralized by U.S. Government Agency Securities <br> valued at $468,397,670, 1.20% - 5.88%, due 03/01/26 - <br> 07/01/40)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **15311000000** |
| **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 37.1%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 256063289 | &nbsp;&nbsp; 256000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $261,120,049, 0.38% - 3.63%, due 11/30/26 - 02/15/42)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 155038319 | &nbsp;&nbsp; 155000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $158,100,016, 0.13% - 4.63%, due 08/15/25 - 11/15/52)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**13**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 139034364 | &nbsp;&nbsp; 139000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $141,815,133, 0.63% - 4.50%, due 09/30/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20663331 | &nbsp;&nbsp; 20658224 |
| (Collateralized by U.S. Treasury Securities valued at <br> $21,076,671, 2.75% - 4.00%, due 08/15/32 - 11/15/52)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 310076639 | &nbsp;&nbsp; 310000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $316,278,195, 0.00% - 6.88%, due 01/07/25 - 08/15/33)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 542133994 | &nbsp;&nbsp; 542000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $552,840,058, 0.63% - 4.88%, due 01/15/26 - 11/15/53)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1604641830 | &nbsp;&nbsp; 1601000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,633,020,000, 0.00% - 4.88%, due 01/31/25 - 05/15/54)<br>|  |  |  |  |  |  |
| Issued 12/23/24, repurchase date 01/23/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 36064650 | &nbsp;&nbsp; 36000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $36,720,005, 0.13% - 5.00%, due 10/31/25 - 05/15/48)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 915226208 | &nbsp;&nbsp; 915000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $933,300,084, 2.63% - 4.38%, due 10/15/27 - 03/31/30)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2806464404 | &nbsp;&nbsp; 2804000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,860,080,025, 1.75% - 5.38%, due 02/15/31 - 08/15/54)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23005686 | &nbsp;&nbsp; 23000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $23,465,820, 1.50%, due 08/15/26)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31007664 | &nbsp;&nbsp; 31000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $31,627,819, 1.25%, due 12/31/26)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 77019036 | &nbsp;&nbsp; 77000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $78,540,048, 0.13% - 4.52%, due 01/31/26 - 02/15/51)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8400983097 | &nbsp;&nbsp; 8399000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,400,983,138, 2.75% - 3.00%, due 08/15/42 - 05/15/45)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2043505075 | &nbsp;&nbsp; 2043000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,083,860,056, 2.88% - 4.63%, due 04/15/29 - 05/15/52)<br>|  |  |  |  |  |  |

---

*See financial notes*

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

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1627403134 | &nbsp;&nbsp; 1627000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,659,540,139, 0.13% - 4.63%, due 04/30/30 - 01/15/31)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 769675866 | &nbsp;&nbsp; 769000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $784,380,040, 0.75% - 4.63%, due 04/30/26 - 02/15/44)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 676594129 | &nbsp;&nbsp; 676000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $689,520,030, 2.50% - 4.38%, due 02/28/26 - 11/15/34)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 392331567 | &nbsp;&nbsp; 392000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $399,840,068, 1.25% - 4.00%, due 11/30/26 - 11/15/46)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2533175254 | &nbsp;&nbsp; 2531000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,581,620,047, 0.00% - 4.25%, due 11/28/25 - 11/15/52)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1627402231 | &nbsp;&nbsp; 1627000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,659,540,010, 0.25% - 5.50%, due 01/15/25 - 11/15/29)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1937478869 | &nbsp;&nbsp; 1937000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,975,740,006, 0.25% - 6.38%, due 06/30/25 - 02/28/31)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 271066997 | &nbsp;&nbsp; 271000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $276,420,037, 0.38% - 4.63%, due 03/31/25 - 11/15/51)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 92022744 | &nbsp;&nbsp; 92000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $93,863,200, 0.00% - 6.38%, due 04/22/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/09/24, repurchase date 01/08/25 |  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 486762032 | &nbsp;&nbsp; 485000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $496,559,249, 0.13% - 4.88%, due 09/30/25 - 11/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **27758658224** |
| **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | **Total Repurchase Agreements** <br>**(Cost $43,069,658,224)** | &nbsp;&nbsp; **43069658224** |
| **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | **Total Investments in Securities** <br>**(Cost $74,608,262,636)** | &nbsp;&nbsp; **74608262636** |

---

&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)* 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;

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**15**

------

Schwab Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

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

---

------

At December 31, 2024, 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 \| Annual Holdings and Financial Statements

------

Schwab Government Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $31538604412 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 43069658224 |
| Receivables: |  |  |
| Fund shares sold |  | 649620768 |
| Interest |  | 184087598 |
| Prepaid expenses | + | 1011072 |
| **Total assets** |  | **75442982074** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 310812625 |
| Fund shares redeemed |  | 247735328 |
| Distributions to shareholders |  | 71373467 |
| Investment adviser and administrator fees |  | 10329563 |
| Shareholder service fees |  | 1510110 |
| Independent trustees' fees |  | 303 |
| Due to custodian  |  | 57 |
| Accrued expenses | + | 3411096 |
| **Total liabilities** |  | **645172549** |
| **Net assets** |  | **$74797809525** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $74797855869 |
| Total distributable loss | + | (46344)<br>|
| **Net assets** |  | **$74797809525** |

---

&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 | $20321622908 |  | &nbsp;&nbsp;&nbsp;&nbsp; 20321777973 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Investor Shares | $28152246226 |  | &nbsp;&nbsp;&nbsp;&nbsp; 28152547010 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $26323940391 |  | &nbsp;&nbsp;&nbsp;&nbsp; 26324388164 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**17**

------

Schwab Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| Interest received from securities - unaffiliated issuers |  | $3366497934 |
| Other Interest | + | 2659 |
| **Total investment income**  |  | **3366500593** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 123402973 |
| Shareholder service fees: |  |  |
| Sweep Shares |  | 48766655 |
| Investor Shares |  | 37448517 |
| Registration fees |  | 4774839 |
| Shareholder reports |  | 721349 |
| Portfolio accounting fees |  | 473594 |
| Custodian fees |  | 438761 |
| Professional fees |  | 146008 |
| Independent trustees' fees |  | 97636 |
| Transfer agent fees  |  | 2189 |
| Other expenses | + | 309972 |
| **Total expenses** |  | **216582493** |
| Expense reduction | – | 6964348 |
| **Net expenses** | – | **209618145** |
| **Net investment income** |  | **3156882448** |
| **Increase in net assets resulting from operations** |  | **$3156882448** |

---

*See financial notes*

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

------

Schwab Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $3156882448 | &nbsp;&nbsp;&nbsp; $2239973807 |
| Net realized gains | + |  | &nbsp;&nbsp;&nbsp; 349329 |
| **Increase in net assets from operations** |  | **$3156882448** | &nbsp;&nbsp;&nbsp; **$2240323136** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Sweep Shares |  | ($927966104)<br>| &nbsp;&nbsp;&nbsp; ($785936406)<br>|
| Investor Shares |  | (1210655971)<br>| &nbsp;&nbsp;&nbsp; (819769408)<br>|
| Ultra Shares | + | (1018306981)<br>| &nbsp;&nbsp;&nbsp; (634530135)<br>|
| **Total distributions** |  | **($3156929056)**<br>| &nbsp;&nbsp;&nbsp; **($2240235949)**<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 |  | 21209423861 | &nbsp;&nbsp;&nbsp; 13219725414 |
| Investor Shares |  | 42464021485 | &nbsp;&nbsp;&nbsp; 38597658017 |
| Ultra Shares | + | 38403916158 | &nbsp;&nbsp;&nbsp; 24999891396 |
| **Total shares sold** |  | **102077361504** | &nbsp;&nbsp;&nbsp; **76817274827** |
| **Shares Reinvested** |  |  |  |
| Sweep Shares |  | 927952937 | &nbsp;&nbsp;&nbsp; 785850086 |
| Investor Shares |  | 858290525 | &nbsp;&nbsp;&nbsp; 562813929 |
| Ultra Shares | + | 847095118 | &nbsp;&nbsp;&nbsp; 523896242 |
| **Total shares reinvested** |  | **2633338580** | &nbsp;&nbsp;&nbsp; **1872560257** |
| **Shares Redeemed** |  |  |  |
| Sweep Shares |  | (20080939760)<br>| &nbsp;&nbsp;&nbsp; (16198762185)<br>|
| Investor Shares |  | (36815671952)<br>| &nbsp;&nbsp;&nbsp; (28337750712)<br>|
| Ultra Shares | + | (29128788221)<br>| &nbsp;&nbsp;&nbsp; (17958245191)<br>|
| **Total shares redeemed** |  | **(86025399933)**<br>| &nbsp;&nbsp;&nbsp; **(62494758088)**<br>|
| **Net transactions in fund shares** |  | **18685300151** | &nbsp;&nbsp;&nbsp; **16195076996** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $56112555982 | &nbsp;&nbsp;&nbsp; $39917391799 |
| Total increase | + | 18685253543 | &nbsp;&nbsp;&nbsp; 16195164183 |
| **End of period** |  | **$74797809525** | &nbsp;&nbsp;&nbsp; **$56112555982** |

---

&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 \| Annual Holdings and Financial Statements

**19**

------

Schwab U.S. Treasury Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.28 %<sup>4,5</sup><br>| 0.05 %<sup>5</sup><br>| 0.23 %<sup>5,6</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>4</sup><br>| 0.35<br> %<br>| 0.45<br> %<br>|
| Net investment income (loss) | 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; $35547 | &nbsp;&nbsp; $23422 | &nbsp;&nbsp; $7959 | &nbsp;&nbsp; $7468 | &nbsp;&nbsp; $11297 |

---

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

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

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

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

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

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

<sup>6</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 \| Annual Holdings and Financial Statements

------

Schwab U.S. Treasury Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 1/1/24– <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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>7,8</sup><br>| 0.05 %<sup>8</sup><br>| 0.12 %<sup>8,9</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>7</sup><br>| 0.20<br> %<br>| 0.21 %<sup>9</sup><br>|
| Net investment income (loss) | 4.98<br> %<br>| 4.89<br> %<br>| 1.58<br> %<br>| 0.02<br> %<br>| 0.01 %<sup>9</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $49370 | &nbsp;&nbsp; $29519 | &nbsp;&nbsp; $6176 | &nbsp;&nbsp; $3850 | &nbsp;&nbsp; $2260 |

---

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

<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> 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.

<sup>9</sup> Annualized.

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**21**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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 | Footnotes | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS | **U.S. TREASURY DEBT** 102.8% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2922505000 | &nbsp;&nbsp; 2922505000 |
|  |  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349794375 |
|  |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 999411111 |
|  |  | &nbsp;&nbsp; 4.41% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149908417 |
|  |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1049358309 |
|  |  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2100000000 | &nbsp;&nbsp; 2098695942 |
|  |  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1373000000 | &nbsp;&nbsp; 1372146383 |
|  |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499688195 |
|  |  | &nbsp;&nbsp; 4.16% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 599515371 |
|  |  | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 499595556 |
|  |  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 379756000 | &nbsp;&nbsp; 379445139 |
|  |  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 840000000 | &nbsp;&nbsp; 839309862 |
|  |  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54953265 |
|  |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199829472 |
|  |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 89923061 |
|  |  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 600000000 | &nbsp;&nbsp; 599479667 |
|  |  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149869756 |
|  |  | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199824144 |
|  |  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199823931 |
|  |  | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349510525 |
|  |  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349509067 |
|  |  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249648458 |
|  |  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 998573333 |
|  |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349500550 |
|  |  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199705967 |
|  |  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 1200000000 | &nbsp;&nbsp; 1198216466 |
|  |  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 327100000 | &nbsp;&nbsp; 326689802 |
|  |  | &nbsp;&nbsp; 4.17% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199676056 |
|  |  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 698852380 |
|  |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 20092000 | &nbsp;&nbsp; 20058167 |
|  |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 225000000 | &nbsp;&nbsp; 224619375 |
|  |  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 54701000 | &nbsp;&nbsp; 54608379 |
|  |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 550000000 | &nbsp;&nbsp; 549059472 |
|  |  | &nbsp;&nbsp; 4.47% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349394306 |
|  |  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349393625 |
|  |  | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 698772958 |
|  |  | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149736187 |
|  |  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 6957000 | &nbsp;&nbsp; 6944758 |
|  |  | &nbsp;&nbsp; 5.12% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 98601000 | &nbsp;&nbsp; 98409682 |
|  |  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349220472 |

---

*See financial notes*

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

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 2342000000 | &nbsp;&nbsp; 2336774076 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 1200806000 | &nbsp;&nbsp; 1198122032 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 698429769 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 533240000 | &nbsp;&nbsp; 532047853 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349183990 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1346846819 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 2150000000 | &nbsp;&nbsp; 2144938030 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 698348583 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 249409549 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349167365 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 1200001000 | &nbsp;&nbsp; 1197039998 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 59799000 | &nbsp;&nbsp; 59651324 |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149623269 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 349118408 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 698231814 |
|  | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 1000000000 | &nbsp;&nbsp; 997369925 |
|  | &nbsp;&nbsp; 4.78% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149600737 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348926579 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 1200000000 | &nbsp;&nbsp; 1196308000 |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 3050000000 | &nbsp;&nbsp; 3040599737 |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348920007 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 630000000 | &nbsp;&nbsp; 627974214 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 2250000000 | &nbsp;&nbsp; 2242755280 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 1700000000 | &nbsp;&nbsp; 1694514110 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348868567 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348866165 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1046537333 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 168800000 | &nbsp;&nbsp; 168330248 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 112400000 | &nbsp;&nbsp; 112184897 |
| <br>(3 mo. US TBILL + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 1238400000 | &nbsp;&nbsp; 1238467046 |
|  | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 150000000 | &nbsp;&nbsp; 149406619 |
|  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1045803500 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 950000000 | &nbsp;&nbsp; 946194458 |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 1350000000 | &nbsp;&nbsp; 1344409042 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 490000000 | &nbsp;&nbsp; 487889597 |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348346833 |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 1700000000 | &nbsp;&nbsp; 1691950997 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1045018139 |
|  | &nbsp;&nbsp; 4.49% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 348279167 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 696548611 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 200000000 | &nbsp;&nbsp; 199013333 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1044807633 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 497520833 |
|  | &nbsp;&nbsp; 4.28% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 845780050 |
|  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99488417 |
|  | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 497235486 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347974365 |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347802875 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 496838749 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 695569000 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**23**

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 1050000000 | &nbsp;&nbsp; 1043001487 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 414000000 | &nbsp;&nbsp; 411172594 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 850000000 | &nbsp;&nbsp; 844163478 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 154800000 | &nbsp;&nbsp; 153871936 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 510000000 | &nbsp;&nbsp; 510229966 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347402120 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347399451 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 347393521 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 1700000000 | &nbsp;&nbsp; 1685934673 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 650000000 | &nbsp;&nbsp; 644566639 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 700000000 | &nbsp;&nbsp; 694114896 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346820469 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247717969 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 59451812 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 247644549 |
|  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 650000000 | &nbsp;&nbsp; 643520861 |
|  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 346504181 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 800000000 | &nbsp;&nbsp; 790807733 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 750000000 | &nbsp;&nbsp; 741369667 |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 350000000 | &nbsp;&nbsp; 345766628 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 444515250 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 450000000 | &nbsp;&nbsp; 444393364 |
|  | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 44435953 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 84000000 | &nbsp;&nbsp; 82841180 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 386400000 | &nbsp;&nbsp; 385045820 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 1195900000 | &nbsp;&nbsp; 1196033846 |
|  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 250000000 | &nbsp;&nbsp; 246266812 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 568700000 | &nbsp;&nbsp; 562792693 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 285700000 | &nbsp;&nbsp; 283431029 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 05/31/25 | &nbsp;&nbsp; 56200000 | &nbsp;&nbsp; 55165422 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 352400000 | &nbsp;&nbsp; 345599430 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 89600000 | &nbsp;&nbsp; 87705268 |
| <br>(3 mo. US TBILL + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 2703600000 | &nbsp;&nbsp; 2703460137 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 166300000 | &nbsp;&nbsp; 166535829 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 500000000 | &nbsp;&nbsp; 487145312 |
|  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 743900000 | &nbsp;&nbsp; 733614752 |
|  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 51200000 | &nbsp;&nbsp; 50923926 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 41700000 | &nbsp;&nbsp; 40516589 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 89900000 | &nbsp;&nbsp; 89524873 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 343500000 | &nbsp;&nbsp; 333660276 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 296800000 | &nbsp;&nbsp; 298272307 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 447150000 | &nbsp;&nbsp; 447428033 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 430500000 | &nbsp;&nbsp; 416460107 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 1229500000 | &nbsp;&nbsp; 1229347257 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 266000000 | &nbsp;&nbsp; 267533672 |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 529700000 | &nbsp;&nbsp; 520228596 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 328000000 | &nbsp;&nbsp; 316745923 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 348700000 | &nbsp;&nbsp; 350338855 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 91900000 | &nbsp;&nbsp; 91614394 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 474200000 | &nbsp;&nbsp; 456431137 |

---

*See financial notes*

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

------

Schwab U.S. Treasury Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 191800000 | &nbsp;&nbsp; 188734750 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 262600000 | &nbsp;&nbsp; 262614715 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 115600000 | &nbsp;&nbsp; 115156041 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1082000000 | &nbsp;&nbsp; 1083182442 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 549200000 | &nbsp;&nbsp; 549041790 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 565100000 | &nbsp;&nbsp; 564772179 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 54700000 | &nbsp;&nbsp; 54756224 |
| **Total U.S. Treasury Debt** <br>**(Cost $87,261,331,182)**<br>|  |  |  |  | &nbsp;&nbsp; **87261331182** |
| **Total Investments in Securities** <br>**(Cost $87,261,331,182)** | **Total Investments in Securities** <br>**(Cost $87,261,331,182)** | **Total Investments in Securities** <br>**(Cost $87,261,331,182)** | **Total Investments in Securities** <br>**(Cost $87,261,331,182)** | **Total Investments in Securities** <br>**(Cost $87,261,331,182)** | &nbsp;&nbsp; **87261331182** |

---

&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;

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

------

At December 31, 2024, 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 Government Money Funds \| Annual Holdings and Financial Statements

**25**

------

Schwab U.S. Treasury Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $87261331182 |
| Cash |  | 344 |
| Receivables: |  |  |
| Fund shares sold |  | 896668148 |
| Interest |  | 113939896 |
| Prepaid expenses | + | 706429 |
| **Total assets** |  | **88272645999** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 2876597532 |
| Fund shares redeemed |  | 376731336 |
| Distributions to shareholders |  | 86636665 |
| Investment adviser and administrator fees |  | 11058250 |
| Shareholder service fees |  | 858239 |
| Independent trustees' fees |  | 359 |
| Accrued expenses | + | 4291724 |
| **Total liabilities** |  | **3356174105** |
| **Net assets** |  | **$84916471894** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $84916471894 |
| **Net assets** |  | **$84916471894** |

---

&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 | $35546528193 |  | &nbsp;&nbsp;&nbsp;&nbsp; 35545989906 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $49369943701 |  | &nbsp;&nbsp;&nbsp;&nbsp; 49369451090 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

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

------

Schwab U.S. Treasury Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$3499220030** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 128585410 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 44101897 |
| Registration fees |  | 6215955 |
| Portfolio accounting fees |  | 438897 |
| Custodian fees |  | 380235 |
| Shareholder reports |  | 297010 |
| Professional fees |  | 111970 |
| Independent trustees' fees |  | 96805 |
| Transfer agent fees  |  | 1348 |
| Other expenses | + | 299751 |
| **Total expenses** |  | **180529278** |
| Expense reduction | – | 7841971 |
| **Net expenses** | – | **172687307** |
| **Net investment income** |  | **3326532723** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **235212** |
| **Increase in net assets resulting from operations** |  | **$3326767935** |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**27**

------

Schwab U.S. Treasury Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $3326532723 | &nbsp;&nbsp;&nbsp; $1694812518 |
| Net realized gains | + | 235212 | &nbsp;&nbsp;&nbsp; 220207 |
| **Increase in net assets from operations** |  | **$3326767935** | &nbsp;&nbsp;&nbsp; **$1695032725** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($1421784791)<br>| &nbsp;&nbsp;&nbsp; ($764383343)<br>|
| Ultra Shares | + | (1904949117)<br>| &nbsp;&nbsp;&nbsp; (930566155)<br>|
| **Total distributions** |  | **($3326733908)**<br>| &nbsp;&nbsp;&nbsp; **($1694949498)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 53416155560 | &nbsp;&nbsp;&nbsp; 42384480840 |
| Ultra Shares | + | 81811729811 | &nbsp;&nbsp;&nbsp; 62289160425 |
| **Total shares sold** |  | **135227885371** | &nbsp;&nbsp;&nbsp; **104673641265** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 985660038 | &nbsp;&nbsp;&nbsp; 504836271 |
| Ultra Shares | + | 1433613125 | &nbsp;&nbsp;&nbsp; 688307103 |
| **Total shares reinvested** |  | **2419273163** | &nbsp;&nbsp;&nbsp; **1193143374** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (42277708040)<br>| &nbsp;&nbsp;&nbsp; (27426026528)<br>|
| Ultra Shares | + | (63394707061)<br>| &nbsp;&nbsp;&nbsp; (39634617135)<br>|
| **Total shares redeemed** |  | **(105672415101)**<br>| &nbsp;&nbsp;&nbsp; **(67060643663)**<br>|
| **Net transactions in fund shares** |  | **31974743433** | &nbsp;&nbsp;&nbsp; **38806140976** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $52941694434 | &nbsp;&nbsp;&nbsp; $14135470231 |
| Total increase | + | 31974777460 | &nbsp;&nbsp;&nbsp; 38806224203 |
| **End of period** |  | **$84916471894** | &nbsp;&nbsp;&nbsp; **$52941694434** |

---

&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*

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

------

Schwab Treasury Obligations Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>3,4</sup><br>| 0.06 %<sup>4</sup><br>| 0.30 %<sup>4,5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.36<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>| 0.46<br> %<br>|
| Net investment income (loss) | 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; $36001 | &nbsp;&nbsp; $35243 | &nbsp;&nbsp; $15372 | &nbsp;&nbsp; $5632 | &nbsp;&nbsp; $7573 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

**29**

------

Schwab Treasury Obligations Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.18 %<sup>6,7</sup><br>| 0.06 %<sup>7</sup><br>| 0.16 %<sup>7,8</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.21<br> %<br>| 0.20 %<sup>6</sup><br>| 0.20<br> %<br>| 0.21 %<sup>8</sup><br>|
| Net investment income (loss) | 5.00<br> %<br>| 4.94<br> %<br>| 2.53<br> %<br>| 0.01<br> %<br>| 0.01 %<sup>8</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $33772 | &nbsp;&nbsp; $33877 | &nbsp;&nbsp; $17073 | &nbsp;&nbsp; $2244 | &nbsp;&nbsp; $1754 |

---

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

<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> 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> Annualized.

*See financial notes*

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

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 33.3% OF NET ASSETS | **U.S. TREASURY DEBT** 33.3% OF NET ASSETS | **U.S. TREASURY DEBT** 33.3% OF NET ASSETS | **U.S. TREASURY DEBT** 33.3% OF NET ASSETS | **U.S. TREASURY DEBT** 33.3% OF NET ASSETS | **U.S. TREASURY DEBT** 33.3% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 222900000 | &nbsp;&nbsp; 222620149 |
|  | &nbsp;&nbsp; 1.38% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 631200000 | &nbsp;&nbsp; 629395585 |
|  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 137600000 | &nbsp;&nbsp; 137336671 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 668782000 | &nbsp;&nbsp; 668265662 |
| <br>(3 mo. US TBILL + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 1538855000 | &nbsp;&nbsp; 1538953213 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 258300000 | &nbsp;&nbsp; 256749372 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 645000000 | &nbsp;&nbsp; 642705772 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 54971871 |
|  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 03/15/25 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp; 99370128 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 798654000 | &nbsp;&nbsp; 787056221 |
|  | &nbsp;&nbsp; 2.88% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 435000000 | &nbsp;&nbsp; 432074013 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 1111500000 | &nbsp;&nbsp; 1108052534 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 1800800000 | &nbsp;&nbsp; 1801054585 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 1221900000 | &nbsp;&nbsp; 1209009288 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 534100000 | &nbsp;&nbsp; 529728247 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 05/31/25 | &nbsp;&nbsp; 55500000 | &nbsp;&nbsp; 54477629 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 337600000 | &nbsp;&nbsp; 331083383 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 425000000 | &nbsp;&nbsp; 425237302 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 85400000 | &nbsp;&nbsp; 83594083 |
| <br>(3 mo. US TBILL + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 2970500000 | &nbsp;&nbsp; 2970303217 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 512200000 | &nbsp;&nbsp; 513001256 |
|  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 409700000 | &nbsp;&nbsp; 404171151 |
|  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 398800000 | &nbsp;&nbsp; 395791466 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 24900000 | &nbsp;&nbsp; 24193359 |
|  | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 85100000 | &nbsp;&nbsp; 84744902 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 427700000 | &nbsp;&nbsp; 415430633 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 253600000 | &nbsp;&nbsp; 254855079 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 302900000 | &nbsp;&nbsp; 303057778 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 487800000 | &nbsp;&nbsp; 471898732 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 1543469000 | &nbsp;&nbsp; 1543331537 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 359000000 | &nbsp;&nbsp; 361161334 |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 45100000 | &nbsp;&nbsp; 44331358 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 270500000 | &nbsp;&nbsp; 261218788 |
|  | &nbsp;&nbsp; 4.88% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 301300000 | &nbsp;&nbsp; 302715925 |
|  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 908100000 | &nbsp;&nbsp; 905000100 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 392500000 | &nbsp;&nbsp; 377792236 |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 158700000 | &nbsp;&nbsp; 156163653 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 216700000 | &nbsp;&nbsp; 216711884 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 95800000 | &nbsp;&nbsp; 95432072 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 1044700000 | &nbsp;&nbsp; 1045722118 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**31**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 490900000 | &nbsp;&nbsp; 490780372 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 543500000 | &nbsp;&nbsp; 543189590 |
| <br>(3 mo. US TBILL + 0.21%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 45300000 | &nbsp;&nbsp; 45346562 |
| **Total U.S. Treasury Debt** <br>**(Cost $23,238,080,810)**<br>|  |  |  |  | &nbsp;&nbsp; **23238080810** |

---

&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** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS | **REPURCHASE AGREEMENTS** 65.7% OF NET ASSETS |
| **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** | **U.S. TREASURY REPURCHASE AGREEMENTS 65.7%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 237058592 | &nbsp;&nbsp; 237000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $241,740,052, 0.13% - 4.88%, due 04/30/26 - 02/15/42)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 996857943 | &nbsp;&nbsp; 996000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,015,920,003, 0.13% - 4.88%, due 05/31/25 - 08/15/54)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 143035353 | &nbsp;&nbsp; 143000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $145,860,031, 4.63%, due 05/15/44)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 129031892 | &nbsp;&nbsp; 129000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $131,612,577, 0.25% - 4.50%, due 01/15/25 - 11/15/48)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 17010367 | &nbsp;&nbsp; 17006163 |
| (Collateralized by U.S. Treasury Securities valued at <br> $17,350,639, 3.75%, due 11/15/43)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 287070953 | &nbsp;&nbsp; 287000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $292,812,428, 0.25% - 4.50%, due 05/15/26 - 11/15/54)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 502124106 | &nbsp;&nbsp; 502000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $512,040,024, 0.25% - 4.48%, due 01/15/25 - 02/15/42)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4009098889 | &nbsp;&nbsp; 4000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $4,080,000,031, 0.00% - 4.88%, due 01/09/25 - 05/15/54)<br>|  |  |  |  |  |  |
| Issued 12/23/24, repurchase date 01/23/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 33059263 | &nbsp;&nbsp; 33000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $33,660,000, 0.13% - 4.63%, due 01/15/26 - 02/15/54)<br>|  |  |  |  |  |  |
| Issued 12/27/24, repurchase date 02/26/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 425559701 | &nbsp;&nbsp; 425000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $433,500,000, 0.13% - 4.88%, due 02/28/25 - 05/15/54)<br>|  |  |  |  |  |  |

---

*See financial notes*

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

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2000494444 | &nbsp;&nbsp; 2000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,040,000,093, 3.50% - 4.63%, due 12/31/26 - 09/30/29)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2607289506 | &nbsp;&nbsp; 2605000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,657,100,103, 0.75% - 7.63%, due 01/15/25 - 11/15/54)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 22005439 | &nbsp;&nbsp; 22000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $22,445,592, 1.50%, due 08/15/26)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 29007169 | &nbsp;&nbsp; 29000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $29,587,380, 1.50%, due 08/15/26)<br>|  |  |  |  |  |  |
| Issued 12/27/24, repurchase date 01/03/25 |  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 200171111 | &nbsp;&nbsp; 200000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $204,174,576, 1.25%, due 11/30/26)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 1472247081 | &nbsp;&nbsp; 1471000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,501,692,034, 1.13% - 4.50%, due 08/15/39 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 996844387 | &nbsp;&nbsp; 996000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,016,781,328, 1.13% - 4.63%, due 08/15/40 - 05/15/54)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 72017800 | &nbsp;&nbsp; 72000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $73,440,001, 1.25% - 4.88%, due 11/30/25 - 05/15/50)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8090909903 | &nbsp;&nbsp; 8089000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $8,090,909,974, 2.75%, due 08/15/42)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1890467250 | &nbsp;&nbsp; 1890000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,927,800,074, 4.13% - 4.38%, due 02/15/27 - 05/15/40)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1505372906 | &nbsp;&nbsp; 1505000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,535,100,087, 1.38% - 4.38%, due 07/15/33 - 05/15/42)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 718631042 | &nbsp;&nbsp; 718000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $732,360,007, 0.13% - 3.00%, due 04/15/25 - 05/15/47)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4003515556 | &nbsp;&nbsp; 4000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $4,080,000,010, 0.00% - 7.63%, due 02/15/25 - 05/15/53)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 232196233 | &nbsp;&nbsp; 232000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $236,640,051, 4.50%, due 12/31/31)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**33**

------

Schwab Treasury Obligations Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 2962509422 | &nbsp;&nbsp; 2960000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,019,200,044, 0.13% - 6.00%, due 10/31/25 - 08/15/43)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2402062667 | &nbsp;&nbsp; 2400000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $2,448,000,075, 0.13% - 6.13%, due 01/15/25 - 05/15/53)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1505372069 | &nbsp;&nbsp; 1505000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,535,100,014, 0.00% - 6.13%, due 01/15/25 - 08/15/29)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1792443022 | &nbsp;&nbsp; 1792000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,827,840,055, 0.00% - 4.25%, due 01/09/25 - 02/15/52)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 251062053 | &nbsp;&nbsp; 251000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $256,020,004, 0.25% - 5.38%, due 01/31/25 - 08/15/51)<br>|  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 502537500 | &nbsp;&nbsp; 500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $510,000,029, 0.25% - 5.50%, due 01/15/25 - 02/15/54)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 86021261 | &nbsp;&nbsp; 86000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $87,741,690, 0.13% - 4.63%, due 10/15/25 - 02/15/51)<br>|  |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3256987500 | &nbsp;&nbsp; 3250000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $3,331,234,328, 0.00% - 4.88%, due 03/13/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/09/24, repurchase date 01/08/25 |  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1505449583 | &nbsp;&nbsp; 1500000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,535,750,250, 0.13% - 4.63%, due 11/30/25 - 08/15/54)<br>|  |  |  |  |  |  |
| Issued 12/03/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1004433333 | &nbsp;&nbsp; 1000000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $1,024,522,002, 0.00% - 4.63%, due 01/14/25 - 02/15/54)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **45842006163** |
| **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | **Total Repurchase Agreements** <br>**(Cost $45,842,006,163)** | &nbsp;&nbsp; **45842006163** |
| **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | **Total Investments in Securities** <br>**(Cost $69,080,086,973)** | &nbsp;&nbsp; **69080086973** |

---

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

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

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

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

------

At December 31, 2024, 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 \| Annual Holdings and Financial Statements

------

Schwab Treasury Obligations Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $23238080810 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 45842006163 |
| Receivables: |  |  |
| Fund shares sold |  | 992335012 |
| Interest |  | 191284608 |
| Prepaid expenses | + | 653873 |
| **Total assets** |  | **70264360466** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 286949552 |
| Investments bought |  | 115950116 |
| Distributions to shareholders |  | 75503168 |
| Investment adviser and administrator fees |  | 10687078 |
| Shareholder service fees |  | 884900 |
| Independent trustees' fees |  | 341 |
| Accrued expenses | + | 1602932 |
| **Total liabilities** |  | **491578087** |
| **Net assets** |  | **$69772782379** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $69772821348 |
| Total distributable loss | + | (38969)<br>|
| **Net assets** |  | **$69772782379** |

---

&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 | $36001148489 |  | &nbsp;&nbsp;&nbsp;&nbsp; 36001064287 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $33771633890 |  | &nbsp;&nbsp;&nbsp;&nbsp; 33771569893 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**35**

------

Schwab Treasury Obligations Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$3539308237** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 129568589 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 53152259 |
| Registration fees |  | 2849492 |
| Portfolio accounting fees |  | 455778 |
| Custodian fees |  | 438034 |
| Shareholder reports |  | 359589 |
| Professional fees |  | 134804 |
| Independent trustees' fees |  | 104441 |
| Transfer agent fees  |  | 1353 |
| Other expenses | + | 386977 |
| **Total expenses** |  | **187451316** |
| Expense reduction | – | 4730468 |
| **Net expenses** | – | **182720848** |
| **Net investment income** |  | **3356587389** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **2403** |
| **Increase in net assets resulting from operations** |  | **$3356589792** |

---

*See financial notes*

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

------

Schwab Treasury Obligations Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $3356587389 | &nbsp;&nbsp;&nbsp; $2918823719 |
| Net realized gains | + | 2403 | &nbsp;&nbsp;&nbsp; 486626 |
| **Increase in net assets from operations** |  | **$3356589792** | &nbsp;&nbsp;&nbsp; **$2919310345** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($1718638426)<br>| &nbsp;&nbsp;&nbsp; ($1427985472)<br>|
| Ultra Shares | + | (1637990988)<br>| &nbsp;&nbsp;&nbsp; (1491187911)<br>|
| **Total distributions** |  | **($3356629414)**<br>| &nbsp;&nbsp;&nbsp; **($2919173383)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 53742074789 | &nbsp;&nbsp;&nbsp; 70703934296 |
| Ultra Shares | + | 52176367624 | &nbsp;&nbsp;&nbsp; 75988590865 |
| **Total shares sold** |  | **105918442413** | &nbsp;&nbsp;&nbsp; **146692525161** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 1157516037 | &nbsp;&nbsp;&nbsp; 916874688 |
| Ultra Shares | + | 1199805657 | &nbsp;&nbsp;&nbsp; 1062375331 |
| **Total shares reinvested** |  | **2357321694** | &nbsp;&nbsp;&nbsp; **1979250019** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (54141891654)<br>| &nbsp;&nbsp;&nbsp; (51749759603)<br>|
| Ultra Shares | + | (53481797303)<br>| &nbsp;&nbsp;&nbsp; (60246976220)<br>|
| **Total shares redeemed** |  | **(107623688957)**<br>| &nbsp;&nbsp;&nbsp; **(111996735823)**<br>|
| **Net transactions in fund shares** |  | **652075150** | &nbsp;&nbsp;&nbsp; **36675039357** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $69120746851 | &nbsp;&nbsp;&nbsp; $32445570532 |
| Total increase | + | 652035528 | &nbsp;&nbsp;&nbsp; 36675176319 |
| **End of period** |  | **$69772782379** | &nbsp;&nbsp;&nbsp; **$69120746851** |

---

&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 \| Annual Holdings and Financial Statements

**37**

------

Schwab Government Money Funds

Financial Notes

------

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

Each of the funds in this report is a series of The Charles Schwab Family of Funds (the trust), a no-load, open-end management investment company. The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the 1940 Act). The list below shows all the 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 Value Advantage Money Fund<sup>®</sup> | 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).

In this reporting period, the funds adopted FASB Accounting Standards Update 2023-07, ASC Topic 280 Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of operations. An operating segment is defined in Topic 280 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

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

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

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

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, subscriptions and redemptions), 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.

**(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.

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.

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**39**

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

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

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

As disclosed in the Portfolio Holdings, as of December 31, 2024, 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.

As of December 31, 2024, the following funds had investments in repurchase agreements with a gross value as disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities:

---

| | |
|:---|:---|
| Schwab Government Money Fund | $43069658224 |
| Schwab Treasury Obligations Money Fund | 45842006163 |

---

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. 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) the funds intend 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.

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

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

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

**(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) Indemnification:**

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

------

**3. Affiliates and Affiliated Transactions:**

**Investment Adviser**

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

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 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.

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**41**

------

Schwab Government Money Funds

Financial Notes (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 | 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 \| Annual Holdings and Financial Statements

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

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

**Investments in 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 December 31, 2024:

---

| | |
|:---|:---|
| 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. This practice is limited to funds that share the same investment adviser. For the period ended December 31, 2024, 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 \| Annual Holdings and Financial Statements

**43**

------

Schwab Government Money Funds

Financial Notes (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 billion line of credit (the Syndicated Credit Facility), which matured on September 26, 2024. On September 26, 2024, the Syndicated Credit Facility was amended to run for a new 364 day period with the line of credit amount increasing to $1.2 billion, 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, which matured on September 26, 2024. On September 26, 2024, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, 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 December 31, 2024, the tax basis cost of the funds' investments were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | TAX COST | GROSS UNREALIZED <br>DEPRECIATION<br>| NET UNREALIZED <br>APPRECIATION <br>(DEPRECIATION)<br>|
| Schwab Government Money Fund | $74608308980 | &nbsp;&nbsp; ($46344)<br>| &nbsp;&nbsp; ($46344)<br>|
| Schwab U.S. Treasury Money Fund | 87261331182 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Schwab Treasury Obligations Money Fund | 69080125942 | &nbsp;&nbsp; (38969)<br>| &nbsp;&nbsp; (38969)<br>|

---

The primary difference between book basis and tax basis unrealized appreciation or unrealized depreciation of investments are the tax deferral of losses on wash sales. The tax cost of the funds' investments, disclosed above, have been adjusted from their book amounts to reflect these unrealized appreciation or depreciation differences, as applicable.

As of December 31, 2024, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | NET UNREALIZED <br>APPRECIATION <br>(DEPRECIATION) <br>ON INVESTMENTS <br>| TOTAL  |
| Schwab Government Money Fund | ($46344)<br>| &nbsp;&nbsp; ($46344)<br>|
| Schwab U.S. Treasury Money Fund |  | &nbsp;&nbsp; — |
| Schwab Treasury Obligations Money Fund | (38969)<br>| &nbsp;&nbsp; (38969)<br>|

---

For the fiscal year ended December 31, 2024, the Schwab Government Money Fund had capital loss carryforwards utilized of $3,662 (see financial note 7 for additional information).

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

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

**6. Federal Income Taxes (continued):** 

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

---

| | | |
|:---|:---|:---|
|  | CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | ORDINARY <br>INCOME<br>| ORDINARY <br>INCOME <br>|
| Schwab Government Money Fund | $3156929056 | &nbsp;&nbsp; $2240235949 |
| Schwab U.S. Treasury Money Fund | 3326733908 | &nbsp;&nbsp; 1694949498 |
| Schwab Treasury Obligations Money Fund | 3356629414 | &nbsp;&nbsp; 2919173383 |

---

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

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

As of December 31, 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.

------

**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.

Schwab Government Money Funds \| Annual Holdings and Financial Statements

**45**

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

**7. Reorganization (continued):** 

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.

Assuming the acquisition had been completed on January 1, 2024, the beginning of the 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 period.

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

------

Schwab Government Money Funds

Financial Notes (continued)

------

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

**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 Government Money Funds \| Annual Holdings and Financial Statements

**47**

------

Schwab Government Money Funds

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, and Schwab Treasury Obligations Money Fund:

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

We have audited the accompanying statements of assets and liabilities, including the portfolio holdings, of Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, and Schwab Treasury Obligations Money Fund, (the "Funds") three of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2024, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2024, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 14, 2025

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

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

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g106147img9afbbc631.jpg)

MFR31360-20

00308798

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g38074img76bc8e921.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2024

Schwab Municipal Money Fund

Schwab AMT Tax-Free Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| [Financial Statements and Portfolio Holdings](#xx_5e2a43f7-0073-45e9-bd0e-13a38db04b30_1) <br>|  |
| [Schwab Municipal Money Fund](#xx_5e2a43f7-0073-45e9-bd0e-13a38db04b30_1) | 2 |
| [Schwab AMT Tax-Free Money Fund](#xx_f3ce5ea1-b8fa-4d77-9259-a8d8762d00ca_1) | 55 |
| [Financial Notes](#xx_a95a04fe-0733-49ab-b20f-fd76e80ebab1_1) | 86 |
| [Report of Independent Registered Public Accounting Firm](#xx_87b2fc08-a644-422c-8394-671ca0010adf_1) | 92  |

---

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 \| Annual Holdings and Financial Statements

**1**

------

Schwab Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.01 | 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>|
| Total from investment operations | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.32 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>| 0.29 %<sup>4,5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>| 0.45<br> %<br>|
| Net investment income (loss) | 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; $4346 | &nbsp;&nbsp; $4003 | &nbsp;&nbsp; $2954 | &nbsp;&nbsp; $1597 | &nbsp;&nbsp; $2041 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

------

Schwab Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.01 | 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>|
| Total from investment operations | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>| 0.19 %<sup>4,5</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>3</sup><br>| 0.20<br> %<br>| 0.30<br> %<br>|
| Net investment income (loss) | 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; $13210 | &nbsp;&nbsp; $12547 | &nbsp;&nbsp; $11582 | &nbsp;&nbsp; $6405 | &nbsp;&nbsp; $9948 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

**3**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.8% OF NET ASSETS |
| **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** | **ALABAMA 1.3%** |
| **Alabama HFA** |  |  |  |  |  |
| M/F Housing RB (Chapel Ridge Apts) Series 2005E (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10550000 | &nbsp;&nbsp; 10550000 |
| **Birmingham IDB** |  |  |  |  |  |
| RB (Culton Properties) Series 2009A (**LOC**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1255000 | &nbsp;&nbsp; 1255000 |
| **Birmingham Water Works Board** |  |  |  |  |  |
| Water Refunding RB Series 2015A (**ESCROW**) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Black Belt Energy Gas District** |  |  |  |  |  |
| Gas RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7490000 | &nbsp;&nbsp; 7490000 |
| Gas RB Series 2023C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023B <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5900000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| CP  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB Series 2020B (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3820000 | &nbsp;&nbsp; 3820000 |
| **Mobile Cnty IDA** |  |  |  |  |  |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2010B <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 <br> (**LOC**: NORDEA BANK ABP) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4175000 | &nbsp;&nbsp; 4175000 |
| **Montgomery Downtown Redevelopment Auth** |  |  |  |  |  |
| RB (Southern Poverty Law Center) Series 2013<br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Southeast Alabama Gas District** |  |  |  |  |  |
| Gas Supply Refunding RB Series 2024A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Gas Supply Refunding RB Series 2024B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3120000 | &nbsp;&nbsp; 3120000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southeast Energy Auth** |  |  |  |  |  |
| Commodity Supply RB (Project No 5) Series 2023A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
|  |  |  |  |  | &nbsp;&nbsp; **231825000** |
| **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** |
| **Valdez** |  |  |  |  |  |
| Refunding RB (Exxon Pipeline) Series 1993A <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10915000 | &nbsp;&nbsp; 10915000 |
| Refunding RB (ExxonMobil) Series 1993B <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3195000 | &nbsp;&nbsp; 3195000 |
| Refunding RB (ExxonMobil) Series 2001 <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1630000 | &nbsp;&nbsp; 1630000 |
| Terminal Refunding RB (Exxon) Series 1993C <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8415000 | &nbsp;&nbsp; 8415000 |
|  |  |  |  |  | &nbsp;&nbsp; **24155000** |
| **ARIZONA 0.5%** | **ARIZONA 0.5%** | **ARIZONA 0.5%** | **ARIZONA 0.5%** | **ARIZONA 0.5%** | **ARIZONA 0.5%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Banner Health) Series 2015A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 295000 |
| RB (Banner Health) Series 2015C (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3765000 | &nbsp;&nbsp; 3765000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28575000 | &nbsp;&nbsp; 28575000 |
| **Arizona IDA** |  |  |  |  |  |
| Hospital Refunding RB (Phoenix Children's Hospital) Series 2019A <br> (**LOC**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1530000 | &nbsp;&nbsp; 1530000 |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| Hospital Refunding RB (HonorHealth) Series 2024B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| RB (Banner Health) Series 2016A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| Solid Waste Disposal RB (Michael Pylman Dairy) Series 2005 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6750000 | &nbsp;&nbsp; 6750000 |
| **Pinal Cnty IDA** |  |  |  |  |  |
| Solid Waste Disposal RB (Feenstra Investments LLC) Series 2002 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023A (**LIQ**: DEUTSCHE BANK AG)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6230000 | &nbsp;&nbsp; 6230000 |
|  |  |  |  |  | &nbsp;&nbsp; **87495000** |
| **CALIFORNIA 4.6%** | **CALIFORNIA 4.6%** | **CALIFORNIA 4.6%** | **CALIFORNIA 4.6%** | **CALIFORNIA 4.6%** | **CALIFORNIA 4.6%** |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20935000 | &nbsp;&nbsp; 20935000 |
| Toll Bridge RB Series 2024E (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 18470000 | &nbsp;&nbsp; 18470000 |
| **California** |  |  |  |  |  |
| GO Bonds (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9800000 | &nbsp;&nbsp; 9800000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| RB (Adventist Health) Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 36150000 | &nbsp;&nbsp; 36150000 |
| RB (Cedars-Sanai Medical Center) Series 2021A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| RB (Cedars-Sinai Health) Series 2021A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |

---

*See financial notes*

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

**5**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Public Finance Auth** |  |  |  |  |  |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15180000 | &nbsp;&nbsp; 15180000 |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| RB (Sharp Healthcare) Series 2017A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| **California Public Works Board** |  |  |  |  |  |
| Lease RB (California Air Resources Board) Series 2022D <br> (**LIQ**: BARCLAYS BANK PLC)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14255000 | &nbsp;&nbsp; 14255000 |
| **California State Univ** |  |  |  |  |  |
| RB Series 2019A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6745000 | &nbsp;&nbsp; 6745000 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 17775000 | &nbsp;&nbsp; 17775000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 32600000 | &nbsp;&nbsp; 32600000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 38500000 | &nbsp;&nbsp; 38500000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Emeryville Successor Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Bay St Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 57715000 | &nbsp;&nbsp; 57715000 |
| **Irvine Ranch Water District** |  |  |  |  |  |
| GO Refunding Bonds Series 2011A1 (**LOC**: BANK OF AMERICA NA) <br> (SIFMA Municipal Swap Index + 0.05%)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2024 | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 138000000 | &nbsp;&nbsp; 139011281 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Sub RB Series 2017A, 2018C, 2019F, 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp; 465000 |
| **Los Angeles Dept of Water & Power** |  |  |  |  |  |
| Power System RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5885000 | &nbsp;&nbsp; 5885000 |
| Power System RB Series 2023F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| Water System RB Series 2001B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10800000 | &nbsp;&nbsp; 10800000 |
| **Nuveen California Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4820000 | &nbsp;&nbsp; 4820000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13465000 | &nbsp;&nbsp; 13465000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16485000 | &nbsp;&nbsp; 16485000 |
| RB 2nd Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 57025000 | &nbsp;&nbsp; 57025000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28985000 | &nbsp;&nbsp; 28985000 |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4225000 | &nbsp;&nbsp; 4225000 |
| RB 2nd Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Sub CP Notes A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 10999793 |
| Sub CP Notes B6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34500000 | &nbsp;&nbsp; 34498543 |
| Sub CP Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 95000000 | &nbsp;&nbsp; 94998213 |
| **Univ of California** |  |  |  |  |  |
| Medical Center Pooled RB Series 2016L (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
|  |  |  |  |  | &nbsp;&nbsp; **807302830** |
| **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** | **COLORADO 1.7%** |
| **Broomfield Urban Renewal Auth** |  |  |  |  |  |
| Tax Increment RB Series 2005 (**LOC**: BNP PARIBAS SA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22100000 | &nbsp;&nbsp; 22100000 |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Advent Health) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Hospital RB (Advent Health) Series 2019A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 68930000 | &nbsp;&nbsp; 68930000 |
| RB (Intermountain Healthcare) Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| RB (Intermountain Healthcare) Series 2022E <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23985000 | &nbsp;&nbsp; 23985000 |
| RB (Intermountain Healthcare) Series 2024D <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| RB (Intermountain Healthcare) Series 2024E (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 29990000 | &nbsp;&nbsp; 29990000 |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2395000 | &nbsp;&nbsp; 2395000 |
| Refunding RB (SCL Health System) Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4965000 | &nbsp;&nbsp; 4965000 |
| **Colorado Housing & Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Terrace Park Apartments) Series 2007 (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.85% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10575000 | &nbsp;&nbsp; 10575000 |
| S/F Mortgage Class I Bonds Series 2017E (**LIQ**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17385000 | &nbsp;&nbsp; 17385000 |
| **Denver** |  |  |  |  |  |
| Airport System RB Series 2018A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15750000 | &nbsp;&nbsp; 15750000 |
| Airport System RB Series 2022D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| Airport System Sub RB Series 2018A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10760000 | &nbsp;&nbsp; 10760000 |
| Dedicated Tax RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8410000 | &nbsp;&nbsp; 8410000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA <br> NA) <br>| &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |

---

*See financial notes*

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

**7**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
|  |  |  |  |  | &nbsp;&nbsp; **301855000** |
| **CONNECTICUT 0.4%** | **CONNECTICUT 0.4%** | **CONNECTICUT 0.4%** | **CONNECTICUT 0.4%** | **CONNECTICUT 0.4%** | **CONNECTICUT 0.4%** |
| **Connecticut Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Yale New Haven Health) Series 2024C2<br> *(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2018C4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21950000 | &nbsp;&nbsp; 21950000 |
| Housing Mortgage Finance Bonds Series 2020E2  | &nbsp;&nbsp; 1.00% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 585309 |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
|  |  |  |  |  | &nbsp;&nbsp; **64535309** |
| **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; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.54% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12550000 | &nbsp;&nbsp; 12550000 |
| **New Castle Cnty** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 2002<br> *(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5185000 | &nbsp;&nbsp; 5185000 |
|  |  |  |  |  | &nbsp;&nbsp; **206535000** |
| **DISTRICT OF COLUMBIA 1.6%** | **DISTRICT OF COLUMBIA 1.6%** | **DISTRICT OF COLUMBIA 1.6%** | **DISTRICT OF COLUMBIA 1.6%** | **DISTRICT OF COLUMBIA 1.6%** | **DISTRICT OF COLUMBIA 1.6%** |
| **District Columbia Income Tax** |  |  |  |  |  |
| Secured RB Series 2019A (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 895000 | &nbsp;&nbsp; 895000 |
| **District of Columbia** |  |  |  |  |  |
| GO Bonds Series 2017B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 42000000 | &nbsp;&nbsp; 42000000 |
| GO Bonds Series 2024A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4745000 | &nbsp;&nbsp; 4745000 |
| GO CP BAN Series 2022A (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 62077000 | &nbsp;&nbsp; 62077000 |
| GO Refunding Bonds Series 2017C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17805000 | &nbsp;&nbsp; 17805000 |
| **District of Columbia HFA** |  |  |  |  |  |
| M/F Housing RB (Pentacle Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8025000 | &nbsp;&nbsp; 8025000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A <br> *(c)* | &nbsp;&nbsp; 3.25% | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 30700000 | &nbsp;&nbsp; 30700000 |
| Public Utility Sr Lien RB Series 2018B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp; 1335000 |
| Public Utility Sub Lien RB Series 2014B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Public Utility Sub Lien RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3760000 |
| Public Utility Sub Lien Refunding RB Series 2024B1 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15240000 | &nbsp;&nbsp; 15240000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 RB Series 2009D2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13965000 | &nbsp;&nbsp; 13965000 |
| Airport System Refunding RB Series 2011A3 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| Airport System Refunding RB Series 2018A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7725000 | &nbsp;&nbsp; 7725000 |
| Airport System Refunding RB Series 2019A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Airport System Refunding RB Series 2021A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9510000 | &nbsp;&nbsp; 9510000 |
| Airport System Refunding RB Series 2023A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10285000 | &nbsp;&nbsp; 10285000 |
| Airport System Refunding RB Series 2024A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4190000 | &nbsp;&nbsp; 4190000 |
| Airport System Refunding RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12305000 | &nbsp;&nbsp; 12305000 |
| Airport System Refunding RB Series 2024A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3355000 | &nbsp;&nbsp; 3355000 |
|  |  |  |  |  | &nbsp;&nbsp; **272017000** |
| **FLORIDA 3.6%** | **FLORIDA 3.6%** | **FLORIDA 3.6%** | **FLORIDA 3.6%** | **FLORIDA 3.6%** | **FLORIDA 3.6%** |
| **Brevard Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Timber Trace Apts) Series 2007 (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8660000 | &nbsp;&nbsp; 8659925 |
| M/F Housing RB (Wickham Club Apts) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4395000 | &nbsp;&nbsp; 4395000 |
| **Broward Cnty** |  |  |  |  |  |
| Airport Facility RB (Embraer Aircraft Holding) Series 2007A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Airport System RB Series 2019A 2017 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5310000 | &nbsp;&nbsp; 5310000 |
| **Broward Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Sailboat Bend Artist Lofts) Series 2006 <br> (**LOC**: CITIBANK NA)<br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| **Collier Cnty IDA** |  |  |  |  |  |
| IDRB (Allete) Series 2006 (**LOC**: WELLS FARGO BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.68% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27800000 | &nbsp;&nbsp; 27800000 |
| **Florida** |  |  |  |  |  |
| Capital Outlay Refunding Bonds Series 2017A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| **Florida Dept of Transportation** |  |  |  |  |  |
| Turnpike RB Series 2024C (**LIQ**: MORGAN STANLEY BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6200000 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| Housing RB (Brentwood Club of Millenia Blvd Apts) Series 2002A1 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5930000 | &nbsp;&nbsp; 5930000 |
| M/F Housing RB (Hudson Ridge Apts) Series 2008L (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2020000 | &nbsp;&nbsp; 2020000 |
| M/F Mortgage RB (Clear Harbor Apts) Series 2007H (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2895000 | &nbsp;&nbsp; 2895000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2004F (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| M/F Mortgage RB (Spring Haven Apts) Series 2006G (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.79% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |

---

*See financial notes*

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

**9**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 RB (St. Andrews Pointe Apts) Series 2003E1 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4890000 | &nbsp;&nbsp; 4890000 |
| M/F Mortgage Refunding RB (Grand Reserve at Lee Vista) <br> Series 2004L (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10110000 | &nbsp;&nbsp; 10110000 |
| M/F Mortgage Refunding RB (Grand Reserve at Maitland Park) <br> Series 2004M (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Florida Local Government Finance Commission** |  |  |  |  |  |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40189000 | &nbsp;&nbsp; 40189000 |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.16% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 29811000 | &nbsp;&nbsp; 29811000 |
| **Greater Orlando Aviation Auth** |  |  |  |  |  |
| Sub Airport Facilities RB Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Sub Airport Facilities RB Series 2017A (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.25% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17135000 | &nbsp;&nbsp; 17135000 |
| M/F Housing RB (Royal Palm Key Apts) Series 2002 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6055000 | &nbsp;&nbsp; 6055000 |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| Health System RB (Baycare Health) Series 2020B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5315000 | &nbsp;&nbsp; 5315000 |
| Health System RB (Baycare Health) Series 2020D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2845000 | &nbsp;&nbsp; 2845000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 38300000 | &nbsp;&nbsp; 38300000 |
| Health Care Refunding RB (Baptist Health) Series 2019B <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Health Care Refunding RB (Baptist Health) Series 2019D <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15620000 | &nbsp;&nbsp; 15620000 |
| Health Care Refunding RB (Baptist Health) Series 2019E <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32955000 | &nbsp;&nbsp; 32955000 |
| **Lee Cnty** |  |  |  |  |  |
| Airport RB Series 2021B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2440000 | &nbsp;&nbsp; 2440000 |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7915000 | &nbsp;&nbsp; 7915000 |
| **Miami** |  |  |  |  |  |
| Special Obligation RB Series 2023A (**LIQ**: DEUTSCHE BANK AG)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7120000 | &nbsp;&nbsp; 7120000 |
| **Miami Dade Cnty Aviation** |  |  |  |  |  |
| CP Notes Series 2021 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.29% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series 2021 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series 2021 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Miami-Dade Cnty** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7645000 | &nbsp;&nbsp; 7645000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.11% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 72800000 | &nbsp;&nbsp; 72800000 |
| Seaport CP Notes Series B1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Transit System Sales Surtax RB Series 2020A & 2018 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5835000 | &nbsp;&nbsp; 5835000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 26875000 | &nbsp;&nbsp; 26875000 |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5955000 | &nbsp;&nbsp; 5955000 |
| **Orange Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Lakeside Pointe Apts) Series 2005B (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4775000 | &nbsp;&nbsp; 4775000 |
| M/F Housing RB (Landings on Millenia Blvd Apts) Series 2002A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9245000 | &nbsp;&nbsp; 9245000 |
| M/F Housing RB (Laurel Oaks Apts II) Series 2007H (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6570000 | &nbsp;&nbsp; 6570000 |
| M/F Housing RB (Laurel Oaks Apts) Series 2007G (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9355000 | &nbsp;&nbsp; 9355000 |
| M/F Housing RB (The Cove At Lady Lake Apts) Series 2005A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6340000 | &nbsp;&nbsp; 6340000 |
| **Orange Cnty IDA** |  |  |  |  |  |
| RB (Foundation Academy of Winter Garden) Series 2007 <br> (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5795000 | &nbsp;&nbsp; 5795000 |
| **Orlando Utilities Commission** |  |  |  |  |  |
| Utility System RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Palm Beach Cnty HFA** |  |  |  |  |  |
| M/F Housing RB (Palm Gardens Apts) Series 2007 (**LOC**: CITIBANK <br> NA)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2410000 | &nbsp;&nbsp; 2410000 |
| **Sarasota Cnty** |  |  |  |  |  |
| RB (Planned Parenthood) Series 2007 (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5990000 | &nbsp;&nbsp; 5990000 |
| **South Broward Hospital District** |  |  |  |  |  |
| Hospital RB Series 2016A & 2018 (**LIQ**: WELLS FARGO BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
|  |  |  |  |  | &nbsp;&nbsp; **624369925** |
| **GEORGIA 3.0%** | **GEORGIA 3.0%** | **GEORGIA 3.0%** | **GEORGIA 3.0%** | **GEORGIA 3.0%** | **GEORGIA 3.0%** |
| **Atlanta** |  |  |  |  |  |
| General Airport RB Series 2019B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK <br> NA) <br>| &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| **Atlanta Hartsfield-Jackson Airport** |  |  |  |  |  |
| Airport CP Notes Series M2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 135206000 | &nbsp;&nbsp; 135206000 |
| Airport CP Notes Series N2 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 228865000 | &nbsp;&nbsp; 228865000 |
| Airport CP Notes Series O2 (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 41496000 | &nbsp;&nbsp; 41496000 |
| **Brookhaven Development Auth** |  |  |  |  |  |
| RB (Children's Healthcare of Atlanta) Series 2019A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Fulton Cnty Development Auth** |  |  |  |  |  |
| Airport Facility RB (FlightSafety) Series 1999B<br> *(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Gas Supply RB Series 2023E1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| Gas Supply RB Series 2023E2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Gas Supply RB Series 2024A <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |

---

*See financial notes*

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

**11**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Marietta Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Walton Village Apts) Series 2005 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14300000 | &nbsp;&nbsp; 14300000 |
| **Savannah Economic Development Auth** |  |  |  |  |  |
| Exempt Facility RB (Home Depot) Series 1995B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.27% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12750000 | &nbsp;&nbsp; 12750000 |
| **Winder-Barrow Cnty Jt Development Auth** |  |  |  |  |  |
| IDRB (Price Companies) Series 2007 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 3.92% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 560000 |
|  |  |  |  |  | &nbsp;&nbsp; **519307000** |
| **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> *(c)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Suntado LLC** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024 (**LOC**: BMO BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
|  |  |  |  |  | &nbsp;&nbsp; **26000000** |
| **ILLINOIS 3.6%** | **ILLINOIS 3.6%** | **ILLINOIS 3.6%** | **ILLINOIS 3.6%** | **ILLINOIS 3.6%** | **ILLINOIS 3.6%** |
| **Chicago** |  |  |  |  |  |
| M/F Housing RB (Renaissance Place Apts) Series 2007 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp; 960000 |
| M/F Housing RB (Renaissance St Luke) Series 2008 (**LOC**: BMO BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7130000 | &nbsp;&nbsp; 7130000 |
| Midway Airport 2nd Lien Refunding RB Series 2014C (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5620000 | &nbsp;&nbsp; 5620000 |
| OHare General Airport Sr Lien Refunding RB Series 2018A <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22480000 | &nbsp;&nbsp; 22480000 |
| **Chicago O'Hare International Airport** |  |  |  |  |  |
| OHare General Airport Sr Lien RB Series 2024A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2220000 | &nbsp;&nbsp; 2220000 |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3660000 | &nbsp;&nbsp; 3660000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| Pooled Program CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 25052000 | &nbsp;&nbsp; 25052000 |
| RB (Adler Planetarium) Series 1997 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| RB (Advocate Health) Series 2008C-1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 106710000 | &nbsp;&nbsp; 106710000 |
| RB (Lake Forest College) Series 2008 (**LOC**: NORTHERN TRUST <br> COMPANY (THE)) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4940000 | &nbsp;&nbsp; 4940000 |
| RB (Mercy Health) Series 2016 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (North Shore Country Day School) Series 2003 (**LOC**: BMO BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9390000 | &nbsp;&nbsp; 9390000 |
| RB (Northshore Edward Elmhurst Health) Series 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4755000 | &nbsp;&nbsp; 4755000 |
| RB (Northshore Edward Elmhurst Health) Series 2022E <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23900000 | &nbsp;&nbsp; 23900000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB (NorthShore Univ Health System) Series 2020B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| RB (The Carle Foundation) Series 2021C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| RB (Uhlich Children's Advantage Network) Series 2006 (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2180000 | &nbsp;&nbsp; 2180000 |
| RB (Univ of Chicago Medical Center) Series 2009D1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp; 3085000 |
| RB (Univ of Chicago Medical Center) Series 2010B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8705000 | &nbsp;&nbsp; 8705000 |
| RB (Univ of Chicago Medical Center) Series 2016B (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| RB (Univ of Chicago) Series 2015A (**ESCROW**) (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp; 2340000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4605000 | &nbsp;&nbsp; 4605000 |
| Refunding RB (OSF Healthcare System) Series 2018C (**LOC**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31835000 | &nbsp;&nbsp; 31835000 |
| **Illinois Housing Development Auth** |  |  |  |  |  |
| M/F Housing RB (Foxview I & II Apts) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26000000 | &nbsp;&nbsp; 26000000 |
| M/F RB Series 2023C (**LIQ**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| RB Series 2023P (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 29910000 | &nbsp;&nbsp; 29910000 |
| RB Series 2024H (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9225000 | &nbsp;&nbsp; 9225000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2018B (**LIQ**: MORGAN STANLEY BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| **Illinois Toll Highway Auth** |  |  |  |  |  |
| Toll Highway Sr RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &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; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **Palatine** |  |  |  |  |  |
| Special Facility RB (Little City for Community Development) <br> Series 1998 (**LOC**: FEDERAL HOME LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| **Will Cnty** |  |  |  |  |  |
| RB (ExxonMobil) Series 2001 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19585000 | &nbsp;&nbsp; 19585000 |
|  |  |  |  |  | &nbsp;&nbsp; **634772000** |
| **INDIANA 1.1%** | **INDIANA 1.1%** | **INDIANA 1.1%** | **INDIANA 1.1%** | **INDIANA 1.1%** | **INDIANA 1.1%** |
| **Gibson Cnty** |  |  |  |  |  |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1997 <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1998 <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 1999A <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2000A <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Pollution Control RB (Toyota Motor Manufacturing) Series 2001B <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |

---

*See financial notes*

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

**13**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Indiana Finance Auth** |  |  |  |  |  |
| Economic Development RB (Cargill) Series 2011 <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Health Facilities RB (Baptist Healthcare) Series 2017A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7990000 | &nbsp;&nbsp; 7990000 |
| Health System RB (Franciscan Alliance) Series 2016A (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2720000 | &nbsp;&nbsp; 2720000 |
| Hospital RB (Parkview Health System) Series 2009D (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| RB (Ascension Health) Series 2008E5 <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp; 610000 |
| RB (Ascension Health) Series 2008E7 <br> *(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45675000 | &nbsp;&nbsp; 45675000 |
| Refunding RB (Trinity Health) Series 2008D1 <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13990000 | &nbsp;&nbsp; 13990000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 14670000 | &nbsp;&nbsp; 14670000 |
| **Indiana Health Facility Financing Auth** |  |  |  |  |  |
| RB (Ascension Health) Series 2005A2<br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp; 1635000 |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2017B3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| S/F Mortgage RB Series 2017C3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3760000 | &nbsp;&nbsp; 3760000 |
| S/F Mortgage RB Series 2024C1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23945000 | &nbsp;&nbsp; 23945000 |
|  |  |  |  |  | &nbsp;&nbsp; **186295000** |
| **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** | **IOWA 2.2%** |
| **Iowa Finance Auth** |  |  |  |  |  |
| Health Facilities RB (UnityPoint Health) Series 2013B2 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 28835000 | &nbsp;&nbsp; 28835000 |
| Midwestern Disaster Area RB (Cargill) Series 2009A <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp; 37000000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 65947000 | &nbsp;&nbsp; 65947000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31500000 | &nbsp;&nbsp; 31500000 |
| Midwestern Disaster Area RB (Cargill) Series 2012A <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 73200000 | &nbsp;&nbsp; 73200000 |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5940000 | &nbsp;&nbsp; 5940000 |
| RB (Associated Milk Producers Inc) Series 2024 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| RB (UnityPoint Health) Series 2018F (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6005000 | &nbsp;&nbsp; 6005000 |
| Sewage and Solid Waste Disposal RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Sewage Facilities RB (Cargill Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Solid Waste Disposal RB (Chevron Corp) Series 2024 <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
|  |  |  |  |  | &nbsp;&nbsp; **392427000** |
| **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; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| **Ford Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB Series 2024A (**LOC**: COBANK ACB)<br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9850000 | &nbsp;&nbsp; 9850000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Meade Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2021 <br> (**LOC**: AGRIBANK FCB)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Meade Cnty Solid Waste Disposal** |  |  |  |  |  |
| Solid Waste Disposal RB (High Plains Ponderosa Dairy) Series 2023 <br> (**LOC**: AGRIBANK FCB)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Wichita** |  |  |  |  |  |
| Industrial RB (Cargill) Series VII-A 2018<br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25800000 | &nbsp;&nbsp; 25800000 |
|  |  |  |  |  | &nbsp;&nbsp; **116450000** |
| **KENTUCKY 1.9%** | **KENTUCKY 1.9%** | **KENTUCKY 1.9%** | **KENTUCKY 1.9%** | **KENTUCKY 1.9%** | **KENTUCKY 1.9%** |
| **Boone Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Duke Energy) Series 2010 <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26320000 | &nbsp;&nbsp; 26320000 |
| **Hancock Cnty** |  |  |  |  |  |
| Solid Waste Disposal Facilities RB (NSA Ltd) Series 1998 <br> (**LOC**: WELLS FARGO BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| **Hopkinsville** |  |  |  |  |  |
| IDRB (Riken Elastomers Corp) Series 2007A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| IDRB (Riken Elastomers Corp) Series 2013A (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Kenton Cnty Airport Board** |  |  |  |  |  |
| Special Facilities RB (FlightSafety) Series 2001A<br> *(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Louisville & Jefferson Cnty Metro Government** |  |  |  |  |  |
| Health System RB (Norton Healthcare) Series 2011B (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 30950000 | &nbsp;&nbsp; 30950000 |
| Health System RB (Norton Healthcare) Series 2023C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 81070000 | &nbsp;&nbsp; 81070000 |
| Health System RB (Norton Healthcare) Series 2023D (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 66365000 | &nbsp;&nbsp; 66365000 |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.19% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2022A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4855000 | &nbsp;&nbsp; 4855000 |
|  |  |  |  |  | &nbsp;&nbsp; **328275000** |
| **LOUISIANA 1.8%** | **LOUISIANA 1.8%** | **LOUISIANA 1.8%** | **LOUISIANA 1.8%** | **LOUISIANA 1.8%** | **LOUISIANA 1.8%** |
| **Caddo-Bossier Parishes Port Commission** |  |  |  |  |  |
| RB (Oakley Louisiana Inc) Series 1998 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp; 880000 |
| **East Baton Rouge Parish IDB** |  |  |  |  |  |
| RB (ExxonMobil) Series 2010A <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 103180000 | &nbsp;&nbsp; 103180000 |
| RB (ExxonMobil) Series 2010B <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 91690000 | &nbsp;&nbsp; 91690000 |
| **Louisiana HFA** |  |  |  |  |  |
| M/F Housing RB (Arbor Place Apts) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6325000 | &nbsp;&nbsp; 6325000 |

---

*See financial notes*

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

**15**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Louisiana Local Government Environmental Facilities & Community** <br> **Development Auth**<br>|  |  |  |  |  |
| RB (Louise S. McGehee School) Series 2010 (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2940000 | &nbsp;&nbsp; 2940000 |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| Hospital RB (Louisiana Children's Medical Center) Series 2017A <br> (**LOC**: UBS AG) <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32700000 | &nbsp;&nbsp; 32700000 |
| Hospital RB (Louisiana Children's Medical Center) Series 2017B <br> (**LOC**: UBS AG) <br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21500000 | &nbsp;&nbsp; 21500000 |
| RB (Chevron Inc) Series 2024 <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 57215000 | &nbsp;&nbsp; 57215000 |
| **Plaquemines Port, Harbor & Terminal District** |  |  |  |  |  |
| Port Facilities Refunding RB Series 1984A (**LOC**: WELLS FARGO BANK <br> NA)<br>*(c)* | &nbsp;&nbsp; 4.00% | &nbsp;&nbsp; 03/15/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **St. Tammany Parish Development District** |  |  |  |  |  |
| RB (BCS Development) Series 2008 (**LOC**: FEDERAL HOME LOAN <br> BANKS)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2435000 | &nbsp;&nbsp; 2435000 |
|  |  |  |  |  | &nbsp;&nbsp; **323865000** |
| **MAINE 0.6%** | **MAINE 0.6%** | **MAINE 0.6%** | **MAINE 0.6%** | **MAINE 0.6%** | **MAINE 0.6%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage Purchase Bonds Series 2015E3 (**LIQ**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Mortgage Purchase Bonds Series 2022C (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 69765000 | &nbsp;&nbsp; 69765000 |
|  |  |  |  |  | &nbsp;&nbsp; **99765000** |
| **MARYLAND 1.2%** | **MARYLAND 1.2%** | **MARYLAND 1.2%** | **MARYLAND 1.2%** | **MARYLAND 1.2%** | **MARYLAND 1.2%** |
| **Maryland Community Development Administration** |  |  |  |  |  |
| M/F Development RB (Park View at Catonsville) Series 2007B <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| M/F Housing Development RB (Residences at Ellicott Gardens) <br> Series 2008C (**LOC**: FEDERAL HOME LOAN MORTGAGE <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3990000 | &nbsp;&nbsp; 3990000 |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Johns Hopkins Health System) Series 2024A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1620000 | &nbsp;&nbsp; 1620000 |
| RB (Johns Hopkins Health System) Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| RB Series 1985B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4250000 | &nbsp;&nbsp; 4250000 |
| **Maryland IDA** |  |  |  |  |  |
| Economic Development RB (Paul Reed Smith Guitars) Series 2008 <br> (**LOC**: PNC BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5070000 | &nbsp;&nbsp; 5070000 |
| **Montgomery Cnty** |  |  |  |  |  |
| RB (Trinity Health) Series 2013MD<br> *(c)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| **Montgomery Cnty Housing Opportunities Commission** |  |  |  |  |  |
| M/F Housing RB Series 2023A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3975000 | &nbsp;&nbsp; 3975000 |
| **Washington Suburban Sanitary District** |  |  |  |  |  |
| GO BAN Series A (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16880000 | &nbsp;&nbsp; 16880000 |
| GO BAN Series B (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Western Asset Intermediate Municipal Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 93000000 | &nbsp;&nbsp; 93000000 |
|  |  |  |  |  | &nbsp;&nbsp; **215410000** |
| **MASSACHUSETTS 4.7%** | **MASSACHUSETTS 4.7%** | **MASSACHUSETTS 4.7%** | **MASSACHUSETTS 4.7%** | **MASSACHUSETTS 4.7%** | **MASSACHUSETTS 4.7%** |
| **Massachusetts** |  |  |  |  |  |
| GO Bonds Series 2016B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22540000 | &nbsp;&nbsp; 22540000 |
| GO Bonds Series 2022C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| GO Bonds Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.07% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| GO Bonds Series 2023D (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8075000 | &nbsp;&nbsp; 8075000 |
| GO Bonds Series 2024E (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 75050000 | &nbsp;&nbsp; 75050000 |
| Sr Sales Tax Bonds Series 2005A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 428611 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Boston Children's Hospital) Series 2024U1 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| RB (Boston Children's Hospital) Series 2024U2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12150000 | &nbsp;&nbsp; 12150000 |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)(b)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45755000 | &nbsp;&nbsp; 45755000 |
| RB (Children's Hospital Issue) Series V 2024 (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| RB (CIL Realty) Series 2011 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2025000 | &nbsp;&nbsp; 2025000 |
| RB (CIL Realty) Series 2016 (**LOC**: MANUFACTURERS AND TRADERS <br> TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11560000 | &nbsp;&nbsp; 11560000 |
| RB (College of the Holy Cross) Series 2002 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5050000 | &nbsp;&nbsp; 5050000 |
| RB (Partners HealthCare) Series T2 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing RB Series 2016I (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Massachusetts Port Auth** |  |  |  |  |  |
| RB Series 2016B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1235000 | &nbsp;&nbsp; 1235000 |
| RB Series 2021E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40900000 | &nbsp;&nbsp; 40900000 |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 80500000 | &nbsp;&nbsp; 80500000 |

---

*See financial notes*

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

**17**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 5 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 103300000 | &nbsp;&nbsp; 103300000 |
| **Nuveen Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 182200000 | &nbsp;&nbsp; 182200000 |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 95600000 | &nbsp;&nbsp; 95600000 |
|  |  |  |  |  | &nbsp;&nbsp; **824178611** |
| **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** | **MICHIGAN 2.3%** |
| **Grand Traverse Hospital Finance Auth** |  |  |  |  |  |
| Refunding RB (Munson Healthcare) Series 2019C (**LOC**: PNC BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp; 6100000 |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(c)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Hospital RB (CHE Trinity Health) Series 2013MI2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7775000 | &nbsp;&nbsp; 7775000 |
| Hospital Refunding RB (Trinity Health) Series 2016MI (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp; 3135000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15330000 | &nbsp;&nbsp; 15330000 |
| Hospital Refunding RB (Trinity Health) Series 2017MIA & MI2022A & <br> MI2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 17177130 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| Rental Housing RB Series 2000A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15690000 | &nbsp;&nbsp; 15690000 |
| Rental Housing RB Series 2002A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25160000 | &nbsp;&nbsp; 25160000 |
| Rental Housing RB Series 2008A (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16420000 | &nbsp;&nbsp; 16420000 |
| Rental Housing RB Series 2016D (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5870000 | &nbsp;&nbsp; 5870000 |
| Rental Housing RB Series 2018C (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13700000 | &nbsp;&nbsp; 13700000 |
| Rental Housing RB Series 2022B (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp; 910000 |
| Rental Housing RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| S/F Mortgage RB Series 2006C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| S/F Mortgage RB Series 2007B (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 46020000 | &nbsp;&nbsp; 46020000 |
| S/F Mortgage RB Series 2007F (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14375000 | &nbsp;&nbsp; 14375000 |
| S/F Mortgage RB Series 2022D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7215000 | &nbsp;&nbsp; 7215000 |
| S/F Mortgage RB Series 2024D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7030000 | &nbsp;&nbsp; 7030000 |
| **Michigan Strategic Fund** |  |  |  |  |  |
| RB (Greenville Venture Partners) Series 2018 (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| RB (Kroger) Series 2010 (**LOC**: BANK OF NOVA SCOTIA) <br> *(a)* | &nbsp;&nbsp; 3.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40335000 | &nbsp;&nbsp; 40335000 |
| RB (Tubelite) Series 2012 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Recovery Zone Facility RB (CS Facilities) Series 2010 (**LOC**: BMO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31045000 | &nbsp;&nbsp; 31045000 |
| Solid Waste Disposal RB (Chevron) Series 2024 <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Univ of Michigan** |  |  |  |  |  |
| CP Notes Series L1  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 23815000 | &nbsp;&nbsp; 23815000 |
| Extendible CP Notes Series L2 <br> *(c)* | &nbsp;&nbsp; 3.20% | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 19005000 | &nbsp;&nbsp; 19005000 |
| General RB Series 2009B  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 18250000 | &nbsp;&nbsp; 18250000 |
|  |  |  |  |  | &nbsp;&nbsp; **406112130** |
| **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** | **MINNESOTA 1.0%** |
| **County of Grant, MN** |  |  |  |  |  |
| IDRB (Riverview) Series 2020 (**LOC**: AGRIBANK FCB)<br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **East Grand Forks** |  |  |  |  |  |
| Solid Waste Disposal RB (American Crystal Sugar) Series 2019 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |
| **Minnesota** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: CITIBANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| **Minnesota Agri & Eco Dev Brd** |  |  |  |  |  |
| Solid Waste Disposal RB (Spectro Alloys) Series 2024 (**LOC**: BMO <br> BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10755000 | &nbsp;&nbsp; 10755000 |
| **Moorehead** |  |  |  |  |  |
| Refunding RBs (American Crystal Sugar Comp) Series 2020 <br> (**LOC**: COBANK ACB)<br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Norman Cnty** |  |  |  |  |  |
| Solid Waste Disposal RB (Riverview) Series 2022 (**LOC**: AGRIBANK <br> FCB)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2008A <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2770000 | &nbsp;&nbsp; 2770000 |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/20/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5565000 | &nbsp;&nbsp; 5565000 |
| **Swift Cnty** |  |  |  |  |  |
| IDRB (Riverview LLP) Series 2018 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **167995000** |
| **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** | **MISSISSIPPI 0.5%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011E <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3265000 | &nbsp;&nbsp; 3265000 |
| IDRB (Chevron) Series 2007A <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25500000 | &nbsp;&nbsp; 25500000 |
| IDRB (Chevron) Series 2010H <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9230000 | &nbsp;&nbsp; 9230000 |
| IDRB (Chevron) Series 2011A <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4870000 | &nbsp;&nbsp; 4870000 |
| IDRB (Chevron) Series 2011B <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2980000 | &nbsp;&nbsp; 2980000 |
| Port Facilities Refunding RB (Chevron) Series 2023 <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13200000 |

---

*See financial notes*

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

**19**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 Home Corp** |  |  |  |  |  |
| M/F Housing RB (Edgewood Manor Apts) Series 20082 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4960000 | &nbsp;&nbsp; 4960000 |
| **Mississippi Home Corp S/F Mortgage** |  |  |  |  |  |
| S/F Mortgage RB Series 2024E (**LIQ**: BARCLAYS BANK PLC)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16325000 | &nbsp;&nbsp; 16325000 |
|  |  |  |  |  | &nbsp;&nbsp; **85330000** |
| **MISSOURI 0.3%** | **MISSOURI 0.3%** | **MISSOURI 0.3%** | **MISSOURI 0.3%** | **MISSOURI 0.3%** | **MISSOURI 0.3%** |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| Health Facilities RB (BJC Health System) Series 2008E <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19535000 | &nbsp;&nbsp; 19535000 |
| Health Facilities RB (BJC Health) Series 2008C <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6485000 | &nbsp;&nbsp; 6485000 |
| Health Facilities RB (CoxHealth) Series 2008BC (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9105000 | &nbsp;&nbsp; 9105000 |
| **St. Louis Cnty IDA** |  |  |  |  |  |
| M/F Housing RB (Whispering Lakes Apts) Series 1995 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4935000 | &nbsp;&nbsp; 4935000 |
|  |  |  |  |  | &nbsp;&nbsp; **53720000** |
| **NEBRASKA 0.5%** | **NEBRASKA 0.5%** | **NEBRASKA 0.5%** | **NEBRASKA 0.5%** | **NEBRASKA 0.5%** | **NEBRASKA 0.5%** |
| **Central Plains Energy** |  |  |  |  |  |
| Gas RB Series 2022-1 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| **Douglas Cnty Hosp Auth NO 2** |  |  |  |  |  |
| Health Facilities RB (Children's Hospital) Series 2017 <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4435000 | &nbsp;&nbsp; 4435000 |
| **Nebraska Inv Fin Auth Solid Waste Disposal** |  |  |  |  |  |
| Solid Waste Disposal RB (Blackshirt Feeders LP) Series 2024 <br> (**LOC**: BANK OF MONTREAL)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Nebraska Investment Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Irvington Heights Apts) Series 2007A <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9385000 | &nbsp;&nbsp; 9385000 |
| S/F Housing RB Series 2024E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp; 2225000 |
| SF Housing RB Series 2024C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010 <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| IDRB (Cargill) Series 2010B <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| RB (Cargill) Series 2019 <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32000000 | &nbsp;&nbsp; 32000000 |
|  |  |  |  |  | &nbsp;&nbsp; **87580000** |
| **NEVADA 0.7%** | **NEVADA 0.7%** | **NEVADA 0.7%** | **NEVADA 0.7%** | **NEVADA 0.7%** | **NEVADA 0.7%** |
| **Clark Cnty** |  |  |  |  |  |
| Airport System Sub Lien RB Series 2008C1 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 70895000 | &nbsp;&nbsp; 70895000 |
| Airport System Sub Lien RB Series 2008D2B (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16200000 | &nbsp;&nbsp; 16200000 |
| **Las Vegas Valley Water District** |  |  |  |  |  |
| GO Water Bonds Series 2023A (**LIQ**: BANK OF AMERICA NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5615000 | &nbsp;&nbsp; 5615000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nevada Housing Division** |  |  |  |  |  |
| M/F Housing RB (Apache Pines Apts) Series 1999A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8915000 | &nbsp;&nbsp; 8915000 |
| M/F Housing RB (Sierra Pointe Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8465000 | &nbsp;&nbsp; 8465000 |
| M/F Housing RB (Sonoma Palms Apts) Series 2005 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15600000 | &nbsp;&nbsp; 15600000 |
|  |  |  |  |  | &nbsp;&nbsp; **125690000** |
| **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** | **NEW HAMPSHIRE 0.8%** |
| **National Fin Auth Novant Health** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 565000 |
| Health Care Facilities RB (Novant Health) Series 2024C (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **New Hampshire Business Finance Auth** |  |  |  |  |  |
| Recovery Zone Facility RB (Lonza Biologics) Series 2010 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2003 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (Lonza Biologics) Series 2005 <br> (**LOC**: LANDESBANK HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; **134065000** |
| **NEW JERSEY 2.3%** | **NEW JERSEY 2.3%** | **NEW JERSEY 2.3%** | **NEW JERSEY 2.3%** | **NEW JERSEY 2.3%** | **NEW JERSEY 2.3%** |
| **Berkeley Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 16399000 | &nbsp;&nbsp; 16498308 |
| **BlackRock MuniHoldings New Jersey Quality Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 239600000 | &nbsp;&nbsp; 239600000 |
| **Clifton NJ** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10044064 |
| **Gloucester Cnty Improvement Auth** |  |  |  |  |  |
| Loan RB (Rowan Univ) Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| **Hudson Cnty** |  |  |  |  |  |
| BAN 2024  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 25300157 | &nbsp;&nbsp; 25329930 |
| BAN 2024A  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 14786000 | &nbsp;&nbsp; 14819775 |
| **Hudson Cnty Improvement Auth** |  |  |  |  |  |
| Pooled Notes Series 2024B1 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 18045000 | &nbsp;&nbsp; 18131090 |
| **New Jersey Housing & Mortgage Finance Agency** |  |  |  |  |  |
| M/F Housing RB (Meadow Brook Apt) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |
| **Summit** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 13249100 | &nbsp;&nbsp; 13310855 |
| **Teaneck Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17086465 |

---

*See financial notes*

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

**21**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Verona Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8010607 |
| **Woodbridge** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34264310 |
|  |  |  |  |  | &nbsp;&nbsp; **404465404** |
| **NEW MEXICO 0.0%** | **NEW MEXICO 0.0%** | **NEW MEXICO 0.0%** | **NEW MEXICO 0.0%** | **NEW MEXICO 0.0%** | **NEW MEXICO 0.0%** |
| **Sandoval Cnty** |  |  |  |  |  |
| Sr M/F Housing RB (Sandoval Flats) Series 2024A (**LOC**: BARCLAYS <br> BANK PLC)<br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1830000 | &nbsp;&nbsp; **1830000** |
| **NEW YORK 16.7%** | **NEW YORK 16.7%** | **NEW YORK 16.7%** | **NEW YORK 16.7%** | **NEW YORK 16.7%** | **NEW YORK 16.7%** |
| **Albany IDA** |  |  |  |  |  |
| Sr Housing RB (South Mall Towers) Series 2003A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| **Amityville UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 18925000 | &nbsp;&nbsp; 19012124 |
| **Arlington CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 17475000 | &nbsp;&nbsp; 17546539 |
| **Battery Park City Auth** |  |  |  |  |  |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| **Bay Shore UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16572585 |
| **Bayport Blue Point UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 19500000 | &nbsp;&nbsp; 19583345 |
| **Bedford CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15066744 |
| **Cold Springs Harbor CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13055525 |
| **Colonie** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 29000000 | &nbsp;&nbsp; 29048205 |
| **Commack UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30144282 |
| **Connetquot CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 29000000 | &nbsp;&nbsp; 29131997 |
| **Cornwall CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/18/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6024103 |
| **Deer Park UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10044403 |
| **East Islip UFSD** |  |  |  |  |  |
| GO TAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 13400000 | &nbsp;&nbsp; 13432180 |
| **East Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3110000 | &nbsp;&nbsp; 3110000 |
| **Fairpoint CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 4325000 | &nbsp;&nbsp; 4345159 |
| **Fayetteville-Manlius CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 44800000 | &nbsp;&nbsp; 45008815 |
| **Frontier CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20086973 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10037767 |
| **Hauppauge UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19089151 |
| **Huntington UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16072677 |
| **Hyde Park CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10043715 |
| **Islip UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20088126 |
| **Jericho UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13044659 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12067025 |
| TAN 2024-2025  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10540723 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8545000 | &nbsp;&nbsp; 8545000 |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12875000 | &nbsp;&nbsp; 12875000 |
| Transportation RB Series 2015E3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp; 2150000 |
| Transportation Refunding RB Series 2002D-2A1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Transportation Refunding RB Series 2012G3 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **Middle Country CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38168637 |
| **Minisink Valley CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17066827 |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12205000 | &nbsp;&nbsp; 12205000 |
| **New Hartford CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 7700000 | &nbsp;&nbsp; 7729338 |
| **New Rochelle IDA** |  |  |  |  |  |
| IDRB (West End Phase I) Series 2006 (**LOC**: CITIBANK NA)<br> *(a)* | &nbsp;&nbsp; 3.81% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp; 3075000 |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2006 Series I-8 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12655000 | &nbsp;&nbsp; 12655000 |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D-3A (**LIQ**: BANK OF NEW YORK <br> MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5840000 | &nbsp;&nbsp; 5840000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5950000 | &nbsp;&nbsp; 5950000 |
| GO Bonds Fiscal 2013 Series F3 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31280000 | &nbsp;&nbsp; 31280000 |
| GO Bonds Fiscal 2015 Series F5 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| GO Bonds Fiscal 2017 Series A5 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12090000 | &nbsp;&nbsp; 12090000 |
| GO Bonds Fiscal 2017 Series A6 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 43810000 | &nbsp;&nbsp; 43810000 |
| GO Bonds Fiscal 2017 Series A7 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.99% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19365000 | &nbsp;&nbsp; 19365000 |
| GO Bonds Fiscal 2018 Series B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6275000 | &nbsp;&nbsp; 6275000 |

---

*See financial notes*

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

**23**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2430000 | &nbsp;&nbsp; 2430000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5545000 | &nbsp;&nbsp; 5545000 |
| GO Bonds Fiscal 2019 Series E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1262802 |
| GO Bonds Fiscal 2020 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 22485000 | &nbsp;&nbsp; 22485000 |
| GO Bonds Fiscal 2022 Series D4 (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 22315000 | &nbsp;&nbsp; 22315000 |
| GO Bonds Fiscal 2023 Series A1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| GO Bonds Fiscal 2023 Series A4 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23740000 | &nbsp;&nbsp; 23740000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB (Atlantic Court Apts) Series 2005A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60700000 | &nbsp;&nbsp; 60700000 |
| M/F Housing RB Series 2018K (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| M/F Housing RB Series 2018L1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 89910000 | &nbsp;&nbsp; 89910000 |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23015000 | &nbsp;&nbsp; 23015000 |
| M/F Housing RB Series B1A & C1A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8345000 | &nbsp;&nbsp; 8345000 |
| M/F Mortgage RB (State Renaissance Court) Series 2004A <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27400000 | &nbsp;&nbsp; 27400000 |
| M/F Mortgage RB (Susan's Court) Series 2007A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6890000 | &nbsp;&nbsp; 6890000 |
| M/F Rental Housing RB (Related - W 89th St) Series 2000A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21800000 | &nbsp;&nbsp; 21800000 |
| M/F Rental Housing RB (Sierra Development) Series 2003A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| M/F Rental Housing RB (Westport) Series 2004A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 110000000 | &nbsp;&nbsp; 110000000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 22425000 | &nbsp;&nbsp; 22425000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA3 <br> (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20680000 | &nbsp;&nbsp; 20680000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4220000 | &nbsp;&nbsp; 4220000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD <br> Fiscal 2018 Series BB1&CC1 (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1835000 | &nbsp;&nbsp; 1835000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12550000 | &nbsp;&nbsp; 12550000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp; 2740000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23800000 | &nbsp;&nbsp; 23800000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & <br> 2020 Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13900000 | &nbsp;&nbsp; 13900000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7455000 | &nbsp;&nbsp; 7455000 |
| Water & Sewer System RB Fiscal 2015 Series BB2 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 37270000 | &nbsp;&nbsp; 37270000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10125000 | &nbsp;&nbsp; 10125000 |
| Water & Sewer System RB Fiscal 2017 Series BB1B (**LIQ**: STATE <br> STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 61420000 | &nbsp;&nbsp; 61420000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Water & Sewer System RB Fiscal 2023 Series AA3 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Water & Sewer System RB Fiscal 2023 Series BB2 (**LIQ**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 30800000 | &nbsp;&nbsp; 30800000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Building Aid RB Fiscal 2021 Series S1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6455000 | &nbsp;&nbsp; 6455000 |
| Future Tax Secured Sub Bonds Fiscal 2014 Series B3 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10630000 | &nbsp;&nbsp; 10630000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13465000 | &nbsp;&nbsp; 13465000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series A5 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1965000 | &nbsp;&nbsp; 1965000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C7 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series C1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |

---

*See financial notes*

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

**25**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2021 Series E1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3670000 | &nbsp;&nbsp; 3670000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF <br> NEW YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6510000 | &nbsp;&nbsp; 6510000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13835000 | &nbsp;&nbsp; 13835000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp; 3020000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| CP Notes  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| CP Notes  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| RB (Teresian House) Series 2003 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12585000 | &nbsp;&nbsp; 12585000 |
| State Personal Income Tax RB Series 2020A & 2021A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6175000 | &nbsp;&nbsp; 6175000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9215000 | &nbsp;&nbsp; 9215000 |
| State Sales Tax RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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; 4.15% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8695000 | &nbsp;&nbsp; 8695000 |
| Housing RB (250 W 50th St) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37700000 | &nbsp;&nbsp; 37700000 |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27425000 | &nbsp;&nbsp; 27425000 |
| Housing RB (316 11th Ave) Series 2007A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 88270000 | &nbsp;&nbsp; 88270000 |
| Housing RB (39th St) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 33900000 | &nbsp;&nbsp; 33900000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp; 2375000 |
| Housing RB (600 W 42nd Street) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 93480000 | &nbsp;&nbsp; 93480000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37500000 | &nbsp;&nbsp; 37500000 |
| Housing RB (750 6th Ave) Series 1999A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Housing RB (Grace Towers) Series 2007A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11530000 | &nbsp;&nbsp; 11530000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| Housing RB (Saville Housing) Series 2002A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14310000 | &nbsp;&nbsp; 14310000 |
| Housing RB (Theatre Row Tower) Series 2000A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 38300000 | &nbsp;&nbsp; 38300000 |
| Housing RB (Tower 31) Series 2005A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20400000 | &nbsp;&nbsp; 20400000 |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA)<br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 10100000 | &nbsp;&nbsp; 10100000 |
| CP Series 1  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| CP Series 1  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| RB Series 2020A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3670000 | &nbsp;&nbsp; 3670000 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25415000 | &nbsp;&nbsp; 25415000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14840000 | &nbsp;&nbsp; 14840000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| State Personal Income Tax RB Series 2022C <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3675000 | &nbsp;&nbsp; 3675000 |

---

*See financial notes*

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

**27**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2020C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Niskayuna CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10045615 |
| **North Syracuse CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35176104 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 25500000 | &nbsp;&nbsp; 25605257 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10300000 |
| **Oneida Cnty** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| **Penn Yan CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14559023 |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2305000 | &nbsp;&nbsp; 2305000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 595000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp; 760000 |
| Consolidated Bonds 231st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8440000 | &nbsp;&nbsp; 8440000 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 685000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 800000 |
| **Port Washington UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 10235000 | &nbsp;&nbsp; 10296854 |
| **Red Hook CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10044193 |
| **Riverhead CSD** |  |  |  |  |  |
| TAN 2024-2025B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 15500000 | &nbsp;&nbsp; 15559923 |
| **Rockland Cnty IDA** |  |  |  |  |  |
| RB (Northern Riverview) Series 1999 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| **Smithtown CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 44000000 | &nbsp;&nbsp; 44214248 |
| **South Colonie CSD** |  |  |  |  |  |
| BAN 2024A  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 31000000 | &nbsp;&nbsp; 31137727 |
| BAN 2024B  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 3222775 | &nbsp;&nbsp; 3235641 |
| **South Country CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20077489 |
| **South Huntington UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18085281 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30190369 |
| **Syosset CSD** |  |  |  |  |  |
| TAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20082554 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35224690 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub BAN Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22375533 |
| General RB Series 2001C (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 435000 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; 415000 |
| General RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| General Refunding RB Series 2005B4A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A, 2021C1A & 2021C3 <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 17535000 | &nbsp;&nbsp; 17535000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sales Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16300000 | &nbsp;&nbsp; 16300000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7555000 | &nbsp;&nbsp; 7555000 |
| Sales Tax RB Series 2023A & 2022A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16685000 | &nbsp;&nbsp; 16685000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp; 5750000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 22094440 | &nbsp;&nbsp; 22208445 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 10055579 | &nbsp;&nbsp; 10111373 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2030000 | &nbsp;&nbsp; 2030000 |
| **Webster** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/26/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30209093 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20087613 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 25597000 | &nbsp;&nbsp; 25703526 |
| **West Islip UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20053801 |
|  |  |  |  |  | &nbsp;&nbsp; **2936956778** |
| **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** | **NORTH CAROLINA 0.4%** |
| **Cumberland Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Cargill) Series 2022<br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |

---

*See financial notes*

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

**29**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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; 01/02/25 | &nbsp;&nbsp; 42750000 | &nbsp;&nbsp; 42750000 |
| Health Care Facilities Refunding RB (FirstHealth of the Carolinas) <br> Series 2017D (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3530000 | &nbsp;&nbsp; 3530000 |
| **Yancey Cnty Industrial Facilities & Pollution Control Financing Auth** |  |  |  |  |  |
| IDRB (Altec Industries) Series 2007 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
|  |  |  |  |  | &nbsp;&nbsp; **68280000** |
| **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 2010B (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 3.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1915000 | &nbsp;&nbsp; 1915000 |
| RB (Minn-Dak Farmers Coop) Series 2010C (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp; 2740000 |
|  |  |  |  |  | &nbsp;&nbsp; **4655000** |
| **OHIO 3.0%** | **OHIO 3.0%** | **OHIO 3.0%** | **OHIO 3.0%** | **OHIO 3.0%** | **OHIO 3.0%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| Hospital RB (Summa Health) Series 2017B (**LOC**: BMO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32695000 | &nbsp;&nbsp; 32695000 |
| RB (Concordia Lutheran Obligated Group) Series 2013A (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2355000 | &nbsp;&nbsp; 2355000 |
| RB (Concordia Lutheran Obligated Group) Series 2018B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6615000 | &nbsp;&nbsp; 6615000 |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6675000 | &nbsp;&nbsp; 6675000 |
| Hospital Facilities RB (Catholic Healthcare Partners) Series 2010C <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13170000 | &nbsp;&nbsp; 13170000 |
| **Columbus Regional Airport Auth** |  |  |  |  |  |
| Airport Development RB (FlightSafety) Series 2015B<br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
| Hospital Facilities RB (OhioHealth) Series 2018A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp; 2810000 |
| RB (St George Commons Apts) Series 2007 (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| RB (Trinity Health) Series 2013OH <br> *(c)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| **Hamilton Cnty** |  |  |  |  |  |
| Hospital Facilities RB (TriHealth) Series 2017A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 16140268 |
| **Montgomery Cnty** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Kettering Health) Series 1996 <br> (**LOC**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4895000 | &nbsp;&nbsp; 4895000 |
| Hospital Facilities Refunding RB (Kettering Health) Series 2011B <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10575000 | &nbsp;&nbsp; 10575000 |
| Hospital Facilities Refunding RB (Kettering Health) Series 2012 <br> (**LOC**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 49970000 | &nbsp;&nbsp; 49970000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019E (**LIQ**: PNC <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25030000 | &nbsp;&nbsp; 25030000 |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Hospital RB (University Hospitals Health System) Series 2018A <br> (**LOC**: PNC BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp; 2450000 |
| Hospital RB (University Hospitals Health System) Series 2023C <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Ohio HFA** |  |  |  |  |  |
| Residential Mortgage RB Series 2006J (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2310000 | &nbsp;&nbsp; 2310000 |
| Residential Mortgage RB Series 2016J (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13750000 | &nbsp;&nbsp; 13750000 |
| Residential Mortgage RB Series 2017C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| Residential Mortgage RB Series 2024A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7015000 | &nbsp;&nbsp; 7015000 |
| Residential Mortgage RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11200000 | &nbsp;&nbsp; 11200000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 18905000 | &nbsp;&nbsp; 18905000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 23000000 | &nbsp;&nbsp; 23000000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.11% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 12495000 | &nbsp;&nbsp; 12495000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 23190000 | &nbsp;&nbsp; 23190000 |
| Hospital RB (Cleveland Clinic Health System) Series 2013B2 (**LIQ**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4880000 | &nbsp;&nbsp; 4880000 |
| **Ohio Hospital Facilities** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2019D2 <br> *(a)* | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 57990000 | &nbsp;&nbsp; 57990000 |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2021B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| **Ohio State Air Quality Development Auth** |  |  |  |  |  |
| Exempt Facilities RB (Cargill) Series 2021 <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| **Ohio Water Development Auth** |  |  |  |  |  |
| Water Pollution Control Fund RB Series 2024C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 38785000 | &nbsp;&nbsp; 38785000 |
|  |  |  |  |  | &nbsp;&nbsp; **527410268** |
| **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** | **OREGON 1.1%** |
| **Oregon** |  |  |  |  |  |
| GO Bonds Series 2019G (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| GO Refunding Bonds Series 2015B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202019 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 15633000 | &nbsp;&nbsp; 15633000 |
| **Oregon Dept of Transportation** |  |  |  |  |  |
| Highway Tax 2nd Sub Lien CP Notes Series A1 (**LOC**: WELLS FARGO <br> BANK NA) <br>| &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 72772000 | &nbsp;&nbsp; 72772000 |
| **Oregon Facilities Auth** |  |  |  |  |  |
| RB (Quatama Housing LP) Series 2005A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 4.39% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17300000 | &nbsp;&nbsp; 17300000 |

---

*See financial notes*

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

**31**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp; 1725000 |
| **Port of Portland Airport** |  |  |  |  |  |
| Airport RB Series 28 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7015000 | &nbsp;&nbsp; 7015000 |
| Airport RB Series 29 (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11950000 | &nbsp;&nbsp; 11950000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5640000 | &nbsp;&nbsp; 5640000 |
| Airport RB Series 29 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Airport RB Series 29 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5955000 | &nbsp;&nbsp; 5955000 |
| Airport RB Series 30A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp; 2390000 |
| Airport RB Series 30A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp; 3335000 |
| Airport RB Series 30A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3525000 | &nbsp;&nbsp; 3525000 |
| **Portland** |  |  |  |  |  |
| M/F Refunding RB (Village of Lovejoy Fountain) Series 2009 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.61% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7800000 | &nbsp;&nbsp; 7800000 |
| **Salem-Keizer SD #24J** |  |  |  |  |  |
| GO Bonds 2009B (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 06/15/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 172541 |
|  |  |  |  |  | &nbsp;&nbsp; **194539560** |
| **PENNSYLVANIA 2.8%** | **PENNSYLVANIA 2.8%** | **PENNSYLVANIA 2.8%** | **PENNSYLVANIA 2.8%** | **PENNSYLVANIA 2.8%** | **PENNSYLVANIA 2.8%** |
| **Allegheny Cnty Hospital Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Obligated Group) Series 2016A (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 24380000 | &nbsp;&nbsp; 24380000 |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2018A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4280000 | &nbsp;&nbsp; 4280000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK)<br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11780000 | &nbsp;&nbsp; 11780000 |
| **Butler Cnty Industrial Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5040000 | &nbsp;&nbsp; 5040000 |
| Refunding RB (Concordia Lutheran Health & Human Care) <br> Series 2008A (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12640000 | &nbsp;&nbsp; 12640000 |
| **City of York Redevelopment Auth** |  |  |  |  |  |
| RB Series 2002 (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br> *(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 67000000 | &nbsp;&nbsp; 67000000 |
| **Delaware Valley Regional Finance Auth** |  |  |  |  |  |
| RB Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7025000 | &nbsp;&nbsp; 7025000 |
| **Lancaster Cnty Hospital Auth** |  |  |  |  |  |
| Sr Living Facility RB (Quarryville Presbyterian Retirement Community) <br> Series 2000 (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5615000 | &nbsp;&nbsp; 5615000 |
| **Lehigh Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (Lehigh Valley Health) Series 2012B (**LOC**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5895000 | &nbsp;&nbsp; 5895000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lycoming Cnty Auth** |  |  |  |  |  |
| RB (Lycoming College) Series 2013S1 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3730000 | &nbsp;&nbsp; 3730000 |
| M/F Housing RB (Kingswood Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6910000 | &nbsp;&nbsp; 6910000 |
| **Northampton Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (St Luke's Univ Health) Series 2024B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 33635000 | &nbsp;&nbsp; 33635000 |
| **Pennsylvania Economic Development Financing Auth** |  |  |  |  |  |
| Economic Development RB 2005 Series B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| RB (Salem Rd) Series 2007D1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625000 |
| RB (UPMC) Series 2023D2 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 142405000 | &nbsp;&nbsp; 142405000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2017-125A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6690000 | &nbsp;&nbsp; 6690000 |
| S/F Mortgage RB Series 2019-130A  | &nbsp;&nbsp; 1.50% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 208753 |
| S/F Mortgage RB Series 2021-137  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200562 |
| S/F Mortgage RB Series 2022-139A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6920000 | &nbsp;&nbsp; 6920000 |
| S/F Mortgage RB Series 2022140A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp; 960000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5140000 | &nbsp;&nbsp; 5140000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4330000 | &nbsp;&nbsp; 4330000 |
| **Pennsylvania Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Assoc of Indep Colleges & Univs of PA) Series 2001I1 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| RB (Thomas Jefferson Univ) Series 2024D2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 55900000 | &nbsp;&nbsp; 55900000 |
| RB (Thomas Jefferson Univ) Series 2024D3 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Thomas Jefferson Univ) Series 2024D4 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8500000 |
| **Pennsylvania State Turnpike Commission** |  |  |  |  |  |
| Turnpike Refunding RB Series 2023B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 36495000 | &nbsp;&nbsp; 36495000 |
| **Pennsylvania State Univ** |  |  |  |  |  |
| RB Series 2018 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Philadelphia** |  |  |  |  |  |
| Airport Refunding RB Series 2017B (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp; 1850000 |
| CP Series B (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp; 2570000 |
|  |  |  |  |  | &nbsp;&nbsp; **495429315** |
| **RHODE ISLAND 0.0%** | **RHODE ISLAND 0.0%** | **RHODE ISLAND 0.0%** | **RHODE ISLAND 0.0%** | **RHODE ISLAND 0.0%** | **RHODE ISLAND 0.0%** |
| **Rhode Island Health & Educational Building Corp** |  |  |  |  |  |
| Educational Facilities RB (Brown Univ) Series 2017A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5065000 | &nbsp;&nbsp; **5065000** |
| **SOUTH CAROLINA 0.6%** | **SOUTH CAROLINA 0.6%** | **SOUTH CAROLINA 0.6%** | **SOUTH CAROLINA 0.6%** | **SOUTH CAROLINA 0.6%** | **SOUTH CAROLINA 0.6%** |
| **Charleston County SD** |  |  |  |  |  |
| GO BAN Series 2024B | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45176954 |

---

*See financial notes*

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

**33**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023B1 <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14840000 | &nbsp;&nbsp; 14840000 |
| **South Carolina Housing Finance & Development Auth** |  |  |  |  |  |
| M/F Rental Housing RB (Franklin Square Apts) Series 2008 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 340000 |
| **South Carolina Jobs Economic Development Auth** |  |  |  |  |  |
| 1st Lien Economic Development RB (Port Royal Village Apts) <br> Series 2021A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4730000 | &nbsp;&nbsp; 4730000 |
| IRB (South Carolina Generating) Series 2008 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 33265000 | &nbsp;&nbsp; 33265000 |
| **South Carolina Ports Auth** |  |  |  |  |  |
| RB Series 2019B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2590000 | &nbsp;&nbsp; 2590000 |
|  |  |  |  |  | &nbsp;&nbsp; **100941954** |
| **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** | **SOUTH DAKOTA 0.4%** |
| **South Dakota Economic Development Finance Auth** |  |  |  |  |  |
| Solid Waste Disposal (County Line Dairy Project) RB Series 2024 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8780000 | &nbsp;&nbsp; 8780000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2021 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Solid Waste Disposal RB (Riverview LLP) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
|  |  |  |  |  | &nbsp;&nbsp; **70380000** |
| **TENNESSEE 0.8%** | **TENNESSEE 0.8%** | **TENNESSEE 0.8%** | **TENNESSEE 0.8%** | **TENNESSEE 0.8%** | **TENNESSEE 0.8%** |
| **Blount Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series E6A (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2820000 | &nbsp;&nbsp; 2820000 |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 24315000 | &nbsp;&nbsp; 24315000 |
| Hospital Refunding RB (Ballad Health) Series 2022B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31370000 | &nbsp;&nbsp; 31370000 |
| **Memphis Health, Educational & Housing Facility Board** |  |  |  |  |  |
| M/F Housing RB (Ashland Lake II Apts) Series 2008A (**LOC**: US BANK <br> NATIONAL ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| **Metro Government of Nashville & Davidson Cnty Health & Educational** <br> **Facilities Board**<br>|  |  |  |  |  |
| M/F Housing RB (The Retreat at Dry Creek Farms Apts) Series 2007 <br> (**LOC**: CITIBANK NA)<br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1650000 |
| **Metropolitan Nashville Airport Auth** |  |  |  |  |  |
| Sub Airport RB Series 2019B (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp; 1220000 |
| **Sevier Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series VIIB1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31215000 | &nbsp;&nbsp; 31215000 |
| Public Improvement Bonds Series VIIB2 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp; 12100000 |
| **Tennessee Energy Acquisition Corp** |  |  |  |  |  |
| Commodity Project RB Series 2021A (**LOC**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Program Bonds Series 2024-3C | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
|  |  |  |  |  | &nbsp;&nbsp; **140390000** |
| **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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Aldine ISD** |  |  |  |  |  |
| ULT GO Refunding Bond Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 340645 |
| ULT GO Refunding Bonds Series 2017A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 936681 |
| **Aledo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6235000 | &nbsp;&nbsp; 6235000 |
| **Alief ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 475929 |
| **Allen ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500940 |
| **Alvin ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180341 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125247 |
| **Andrews ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275523 |
| **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; 155000 | &nbsp;&nbsp; 156679 |
| **Arlington ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350667 |
| **Austin** |  |  |  |  |  |
| Airport System RB Series 2019B (**LOC**: TORONTO-DOMINION <br> BANK/THE)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 126305 |
| **Birdville ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 360664 |
| **Boerne ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165213 |
| **Brownsville** |  |  |  |  |  |
| Utilities System CP Series A (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |

---

*See financial notes*

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

**35**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Calhoun Cnty Navigation District** |  |  |  |  |  |
| Environmental Facilities RB (Formosa Plastics) Series 2006 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| Solid Waste Disposal RB (Formosa Plastics) Series 2000 <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.20% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Solid Waste Disposal RB (Formosa Plastics) Series 2001 <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Calhoun Cnty Navigation IDA** |  |  |  |  |  |
| Port RB (Formosa Plastics) Series 2011C (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45400000 | &nbsp;&nbsp; 45400000 |
| Environmental Facilities RB (Formosa Plastics) Series 2011B <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Environmental Facilities RB (Formosa Plastics) Series 2012 <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.32% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Port RB (Formosa Plastics) Series 2007A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31175000 | &nbsp;&nbsp; 31175000 |
| Port RB (Formosa Plastics) Series 2011A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32300000 | &nbsp;&nbsp; 32300000 |
| **Canyon Texas ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145198 |
| **Capital Area Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Encino Pointe Apts) Series 2009 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13150000 | &nbsp;&nbsp; 13150000 |
| **Carrollton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7516425 |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 380600 |
| **Cayuga ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300600 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp; 2340000 |
| **Comal ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145182 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5510524 |
| **Comanche Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120001 |
| **Conroe ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200387 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 570000 | &nbsp;&nbsp; 571096 |
| ULT GO Refunding Bonds Series 2020A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 410766 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Corsicana ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 195385 |
| **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; 252317 |
| **Cypress-Fairbanks ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 721259 |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 435836 |
| **Dallam Cnty IDC** |  |  |  |  |  |
| Economic Development RB (Hillmar Cheese) Series 2010 (**LOC**: BANK <br> OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Economic Development Refunding RB (Hilmar Cheese) Series 2009 <br> (**LOC**: WELLS FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 24500000 | &nbsp;&nbsp; 24500000 |
| IDRB (Morning Star Dairy) Series 2015 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5350000 | &nbsp;&nbsp; 5350000 |
| IDRB (Morning Star Dairy) Series 2018 (**LOC**: FARM CREDIT BANK OF <br> TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Lien Sales Tax Refunding RB Series 2021B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2370000 | &nbsp;&nbsp; 2370000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 11597000 | &nbsp;&nbsp; 11597000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 12930000 | &nbsp;&nbsp; 12930000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| **Dallas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125171 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| **Deer Park ISD** |  |  |  |  |  |
| Limited Tax Refunding Bonds Series 2021A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 235321 |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp; 1080000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: UBS AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5225000 | &nbsp;&nbsp; 5225000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3920000 | &nbsp;&nbsp; 3920000 |
| **Dripping Springs ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400769 |
| **El Paso Tx Water and Sewer System** |  |  |  |  |  |
| Water & Sewer System Refunding RB Series 2022 (**LIQ**: ROYAL BANK <br> OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 6300000 |

---

*See financial notes*

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

**37**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Fort Worth ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140259 |
| **Friendswood ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150282 |
| **Frisco ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150300 |
| **Garland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 410809 |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 946796 |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 936797 |
| **Goose Creek ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**ESCROW**)  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp; 1075762 |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp; 1287436 |
| **Gulf Coast IDA** |  |  |  |  |  |
| RB (ExxonMobil) Series 2012<br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9745000 | &nbsp;&nbsp; 9745000 |
| **Gulf Coast Waste Disposal Auth** |  |  |  |  |  |
| RB (ExxonMobil) Series 2000 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23475000 | &nbsp;&nbsp; 23475000 |
| RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (ExxonMobil) Series 2001B <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23900000 | &nbsp;&nbsp; 23900000 |
| RB (ExxonMobil) Series 2002 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| **Hallsville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200389 |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 2230000 | &nbsp;&nbsp; 2230000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Toll Road 1st Lien Refunding RB Series 2024A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp; 3025000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.14% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| **Harris Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Memorial Hermann Health) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Hospital RB (Texas Childrens Hospital) Series 2021C (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1630000 | &nbsp;&nbsp; 1630000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 48665000 | &nbsp;&nbsp; 48665000 |
| Refunding RB (Methodist Hospital) Series 2009C1  | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 220000000 | &nbsp;&nbsp; 220000000 |
| Refunding RB (Methodist Hospital) Series 2009C2  | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 103200000 | &nbsp;&nbsp; 103200000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Harris Cnty Health Facilities Development Corp** |  |  |  |  |  |
| RB (Methodist Hospital) Series 2008A2<br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp; 1380000 |
| **Harris Cnty Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Lafayette Village Apts) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10715000 | &nbsp;&nbsp; 10715000 |
| M/F Housing RB (Village At Cornerstone Apts) Series 2004 <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5315000 | &nbsp;&nbsp; 5315000 |
| **Harris Cnty IDC - ExxonMobil** |  |  |  |  |  |
| Solid Waste Disposal RB (Exxon) Series 1997 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| 1st Lien Revenue CP Series K (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 2930000 | &nbsp;&nbsp; 2930000 |
| **Hays Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100200 |
| **Highland Park ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.25% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 471011 |
| **Houston Combined Utility System** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2004B2 (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12150000 | &nbsp;&nbsp; 12150000 |
| 1st Lien Refunding RB Series 2004B4 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Houston ISD** |  |  |  |  |  |
| LT Refunding Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300560 |
| **Humble ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2016A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 115158 |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.50% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250618 |
| **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; 200250 |
| **Katy ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2016A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325625 |
| **Killeen ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp; 1392641 |
| **Kingsville ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1001955 |
| **La Porte ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175254 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100199 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125171 |
| **LA Vega Texas ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300554 |

---

*See financial notes*

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

**39**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lake Travis ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150252 |
| **Lamar Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 626210 |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375632 |
| **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; 287816 |
| 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; 151616 |
| **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; 101052 |
| **Lower Colorado River Auth** |  |  |  |  |  |
| CP Series B (**LOC**: TRUIST BANK)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16110000 | &nbsp;&nbsp; 16110000 |
| Transmission Contract Revenue CP (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 29200000 | &nbsp;&nbsp; 29200000 |
| Transmission Contract Revenue CP (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>| &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 13032000 | &nbsp;&nbsp; 13032000 |
| **Lower Neches Valley Auth** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 85900000 | &nbsp;&nbsp; 85900000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001A <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 26385000 | &nbsp;&nbsp; 26385000 |
| Exempt Facilities Refunding RB (ExxonMobil) Series 2001B2 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31600000 | &nbsp;&nbsp; 31600000 |
| RB (ExxonMobil) Series 2010 <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 83430000 | &nbsp;&nbsp; 83430000 |
| RB (ExxonMobil) Series 2012 <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19510000 | &nbsp;&nbsp; 19510000 |
| **Mansfield ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350659 |
| **McAllen ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2020A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150282 |
| **McCamey ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 109922 |
| **McKinney ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100195 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10020911 |
| **Medina Valley ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8350000 | &nbsp;&nbsp; 8350000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Midland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 751463 |
| **Mineral Wells Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 169880 |
| **New Caney ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 726445 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System RB Extendable CP<br> *(c)* | &nbsp;&nbsp; 3.18% | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 55000000 | &nbsp;&nbsp; 55000000 |
| **North Texas Tollway Auth** |  |  |  |  |  |
| 1st Tier System Refunding RB Series 2008I (**ESCROW**) | &nbsp;&nbsp; 6.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4524345 |
| **Northwest ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Pasadena ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120164 |
| **Pearland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165318 |
| **Pecos Barstow Toyah ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp; 365556 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 14880000 | &nbsp;&nbsp; 14913453 |
| **Plano ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250482 |
| **Port Neches-Groves ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 801470 |
| **Port of Houston Auth** |  |  |  |  |  |
| 1st Lien RB Series 2023 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11260000 | &nbsp;&nbsp; 11260000 |
| 1st Lien RB Series 2023 (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total Petrochemicals USA) Series 2009 <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 48685000 | &nbsp;&nbsp; 48685000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 74200000 | &nbsp;&nbsp; 74200000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| IDRB (Legacy Farms LP) Series 2024 (**LOC**: AGRIBANK FCB) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| IDRB (Route 86 Biogas) Series 2023 (**LOC**: COBANK ACB) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| IRDB (Central Texas Biogas) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| IRDB (Cloverdale Renewables) Series 2024 (**LOC**: FARM CREDIT BANK <br> OF TEXAS) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 36500000 | &nbsp;&nbsp; 36500000 |
| RB (ATOFINA Petrochemicals) Series 2003B <br> *(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Total Energies SE) Series 1998 <br> *(a)* | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18400000 | &nbsp;&nbsp; 18400000 |
| RB (TOTAL Petrochemicals USA) Series 2008 <br> *(a)* | &nbsp;&nbsp; 3.83% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |

---

*See financial notes*

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

**41**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Quinlan ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4205000 | &nbsp;&nbsp; 4205000 |
| **Red Oak ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 586099 |
| **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; 384045 |
| **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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| **San Antonio** |  |  |  |  |  |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 38545000 | &nbsp;&nbsp; 38545000 |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 50705000 | &nbsp;&nbsp; 50705000 |
| Water System Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19800000 | &nbsp;&nbsp; 19800000 |
| **San Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas Refunding RB Series 2023A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5905000 | &nbsp;&nbsp; 5905000 |
| Electric & Gas Refunding RB Series 2024C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| Electric & Gas Refunding RB Series 2024D (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6405000 | &nbsp;&nbsp; 6405000 |
| Electric & Gas Systems Refunding RB Series 2022  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200250 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp; 13200000 |
| **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; 500000 | &nbsp;&nbsp; 504940 |
| **Schertz-Cibolo-Universal City ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2018 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249913 |
| **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; 606575 |
| **Southeast Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Piedmont Apts) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10935000 | &nbsp;&nbsp; 10935000 |
| **Southwest ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 305156 |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 350453 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Spring Branch ISD** |  |  |  |  |  |
| Limited Tax Refunding Bonds Series 2014B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200258 |
| LT Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 390503 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 445554 |
| **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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp; 2235000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: ROYAL <br> BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3280000 | &nbsp;&nbsp; 3280000 |
| Hospital RB (Methodist Hospitals of Dallas) Series 2008B (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11245000 | &nbsp;&nbsp; 11245000 |
| Hospital Refunding RB (Baylor Scott & White) Series 2024A <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20725000 | &nbsp;&nbsp; 20725000 |
| RB (Christus Health) Series 2016D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| RB (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |
| RB (Methodist Hospitals) Series 2008A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp; 2570000 |
| RB (Texas Health Resources) Series 2008A <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 38860000 | &nbsp;&nbsp; 38860000 |
| RB (Texas Health Resources) Series 2008C <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1585000 | &nbsp;&nbsp; 1585000 |
| Refunding RB (Christus Health) Series 2008C2 (**LOC**: BANK OF NEW <br> YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| **Tatum ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 565394 |
| **Texas** |  |  |  |  |  |
| GO Bonds Series 2002 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| GO Bonds Series 2005B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13885000 | &nbsp;&nbsp; 13885000 |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14645000 | &nbsp;&nbsp; 14645000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13425000 | &nbsp;&nbsp; 13425000 |
| GO Bonds Series 2017 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7690000 | &nbsp;&nbsp; 7690000 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5070000 | &nbsp;&nbsp; 5070000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23820000 | &nbsp;&nbsp; 23820000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 79670000 | &nbsp;&nbsp; 79670000 |
| Veterans Bonds Series 2019 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5535000 | &nbsp;&nbsp; 5535000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17380000 | &nbsp;&nbsp; 17380000 |
| Veterans' Housing Assistance Program Fund II Series 2001A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11920000 | &nbsp;&nbsp; 11920000 |

---

*See financial notes*

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

**43**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2001C2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20055000 | &nbsp;&nbsp; 20055000 |
| Veterans' Housing Assistance Program Fund II Series 2002A2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21160000 | &nbsp;&nbsp; 21160000 |
| Veterans' Housing Assistance Program Fund II Series 2003B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12215000 | &nbsp;&nbsp; 12215000 |
| Veterans' Housing Assistance Program Fund II Series 2004B <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14125000 | &nbsp;&nbsp; 14125000 |
| Veterans Housing Assistance Program Fund II Series 2005A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
| Veterans' Housing Assistance Program Fund II Series 2006A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17325000 | &nbsp;&nbsp; 17325000 |
| Veterans Housing Assistance Program Fund II Series 2008A <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20085000 | &nbsp;&nbsp; 20085000 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series A  | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| CP Series A  | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 9999811 |
| CP Series B  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 26358000 | &nbsp;&nbsp; 26358000 |
| CP Series B  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 17671000 | &nbsp;&nbsp; 17671000 |
| **Texas Dept of Housing & Community Affairs** |  |  |  |  |  |
| M/F Housing RB (Idlewilde Apartments) Series 2006 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4390000 | &nbsp;&nbsp; 4390000 |
| M/F Housing RB (Lancaster Apts) Series 2007 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11080000 | &nbsp;&nbsp; 11080000 |
| M/F Housing RB (West Oaks Sr Apts) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10375000 | &nbsp;&nbsp; 10375000 |
| M/F Housing RB (Windshire Apts) Series 2007 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11400000 | &nbsp;&nbsp; 11400000 |
| M/F Housing RB (Woodmont Apts) Series 2009 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12445000 | &nbsp;&nbsp; 12445000 |
| Residential Mortgage RB Series 2024C (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| S/F Mortgage RB Series 2007A (**LIQ**: TEXAS (STATE OF)) <br> *(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 995000 | &nbsp;&nbsp; 995000 |
| S/F Mortgage RB Series 2019A  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 227460 |
| S/F Mortgage RB Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8245000 | &nbsp;&nbsp; 8245000 |
| S/F Mortgage Refunding RB Series 2005A (**LIQ**: TEXAS (STATE OF)) <br> *(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5590000 | &nbsp;&nbsp; 5590000 |
| **Texas Public Finance Auth** |  |  |  |  |  |
| CP Series 2016B  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 19725000 | &nbsp;&nbsp; 19725000 |
| CP Series 2016B  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| CP Series 2019A  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 32100000 | &nbsp;&nbsp; 32100000 |
| **Texas Transportation Commission** |  |  |  |  |  |
| GO Bonds Series 2006B <br> *(a)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15075000 | &nbsp;&nbsp; 15075000 |
| State Highway Fund 1st Tier RB Series 2014B (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 119000000 | &nbsp;&nbsp; 119000000 |
| **Texas Veterans Housing Assistance Program** |  |  |  |  |  |
| GO Bonds Fund II Series 2006D (**LIQ**: STATE STREET BANK AND <br> TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| GO Bonds Fund II Series 207B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2019A <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp; 2850000 |
| State Water Implementation Fund RB Series 2020  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 427103 |
| State Water Implementation Fund RB Series 2022  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 552504 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 855000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8795000 | &nbsp;&nbsp; 8795000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13375000 | &nbsp;&nbsp; 13375000 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 3.27% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.16% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 22500000 | &nbsp;&nbsp; 22500000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.11% |  | &nbsp;&nbsp; 03/26/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.14% |  | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Financing System RB Series 2016D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 414544 |
| Financing System RB Series 2019B (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4340000 | &nbsp;&nbsp; 4340000 |
| Revenue Financing Bonds Series 2016E  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 182005 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp; 8500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.35% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.28% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |

---

*See financial notes*

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

**45**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 04/09/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.11% |  | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 22410000 | &nbsp;&nbsp; 22410000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 24000000 | &nbsp;&nbsp; 24000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 21000000 | &nbsp;&nbsp; 21000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 10063000 | &nbsp;&nbsp; 10063000 |
| Revenue Financing System Bonds Series 2019B (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 36205000 | &nbsp;&nbsp; 36205000 |
| **Van Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100078 |
| **Waller ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2020 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200393 |
| **Waxahachie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |
| **Wichita Falls Tex ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2021 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145054 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4025000 | &nbsp;&nbsp; 4025000 |
|  |  |  |  |  | &nbsp;&nbsp; **3476841912** |
| **UTAH 0.3%** | **UTAH 0.3%** | **UTAH 0.3%** | **UTAH 0.3%** | **UTAH 0.3%** | **UTAH 0.3%** |
| **Logan City** |  |  |  |  |  |
| IDRB (Scientific Technology) Series 2001 (**LOC**: BANK OF MONTREAL)<br> *(a)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8940000 | &nbsp;&nbsp; 8940000 |
| **Utah Cnty** |  |  |  |  |  |
| Hospital RB (IHC Health Services) Series 2016C (**LIQ**: BANK OF NEW <br> YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp; 1315000 |
| Hospital RB (IHC Health Services) Series 2020A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4875000 | &nbsp;&nbsp; 4875000 |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31995000 | &nbsp;&nbsp; 31995000 |
|  |  |  |  |  | &nbsp;&nbsp; **47635000** |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** |
| **Albemarle Cnty Economic Development Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Sentara Health) Series 2018A <br> (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60930000 | &nbsp;&nbsp; 60930000 |
| Hospital Facilities Refunding RB (Sentara Martha Jefferson) <br> Series 2018B (**LIQ**: TD BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp; 6100000 |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2016C <br> *(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11160000 | &nbsp;&nbsp; 11160000 |
| Health Care RB (Inova Health) Series 2018C <br> *(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp; 1670000 |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12495000 | &nbsp;&nbsp; 12495000 |
| Sr Lien RB Series 2022A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| **IDA of Fairfax Cnty** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2014A (**LIQ**: BANK OF AMERICA <br> NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Lynchburg Economic Development Auth** |  |  |  |  |  |
| Hospital Refunding RB (Centra Health) Series 2017B (**LOC**: TRUIST <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6990000 | &nbsp;&nbsp; 6990000 |
| **Norfolk Economic Development Auth** |  |  |  |  |  |
| Health Care Facilities Refunding RB (Sentara Healthcare) <br> Series 2012B (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Roanoke Economic Development Auth Corp** |  |  |  |  |  |
| Hospital Refunding RB (Carilion Clinic) Series 2020C (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9400000 | &nbsp;&nbsp; 9400000 |
| **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; 3.90% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31900000 | &nbsp;&nbsp; 31900000 |
| Hospital RB (Carilion Clinic) Series 2008B (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 01/02/25 | &nbsp;&nbsp; 16955000 | &nbsp;&nbsp; 16955000 |
| RB (Valley Health System) Series 2024B2 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 24700000 | &nbsp;&nbsp; 24700000 |
|  |  |  |  |  | &nbsp;&nbsp; **233965000** |
| **WASHINGTON 1.2%** | **WASHINGTON 1.2%** | **WASHINGTON 1.2%** | **WASHINGTON 1.2%** | **WASHINGTON 1.2%** | **WASHINGTON 1.2%** |
| **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; 201366 |
| **King Cnty Housing Auth** |  |  |  |  |  |
| RB (Salmon Creek Apts) Series 2007 (**LOC**: BANK OF AMERICA NA)<br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |
| **Port Bellingham IDA** |  |  |  |  |  |
| IDRB (Hempler Foods) Series 2006 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6125000 | &nbsp;&nbsp; 6125000 |

---

*See financial notes*

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

**47**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Port of Seattle** |  |  |  |  |  |
| Intermediate Lien RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp; 2585000 |
| Intermediate Lien RB Series 2018A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5420000 | &nbsp;&nbsp; 5420000 |
| Intermediate Lien Refunding RB Series 2022B (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp; 3630000 |
| Intermediate Lien Refunding RB Series 2022B (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2490000 | &nbsp;&nbsp; 2490000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4105000 | &nbsp;&nbsp; 4105000 |
| Intermediate Lien Refunding RB Series 2024B (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6560000 | &nbsp;&nbsp; 6560000 |
| Sub Lien Refunding RB Series 2008 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp; 3330000 |
| **Washington** |  |  |  |  |  |
| COP Series 2015C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175000 |
| COP Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 120000 |
| COP Series 2021C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| COP Series 2022A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| COP Series 2023C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 425000 |
| GO Bonds Series 2003C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11625000 | &nbsp;&nbsp; 11625000 |
| GO Bonds Series 2018C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310409 |
| GO Bonds Series 2022C (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| GO Bonds Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Go Refunding Bonds Series R2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10110060 |
| GOP Series 2019D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 292478 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R-2020B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 165000 |
| Motor Vehicle Fuel Tax GO Refunding Bonds Series R2024C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 252523 |
| **Washington Economic Development Finance Auth** |  |  |  |  |  |
| Solid Waste Disposal RB (Waste Management) Series 2002D <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3060000 | &nbsp;&nbsp; 3060000 |
| M/F Housing RB (Urban Center Apts) Series 2012 (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 295000 |
|  |  |  |  |  | &nbsp;&nbsp; **219116836** |
| **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; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 39800000 | &nbsp;&nbsp; 39800000 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **West Virginia Hospital Finance Auth** |  |  |  |  |  |
| Hospital Refunding RB (Cabell Huntington Hospital) Series 2008B <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23240000 | &nbsp;&nbsp; 23240000 |
|  |  |  |  |  | &nbsp;&nbsp; **63040000** |
| **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 <br> (**LOC**: BMO BANK NA)<br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 73900000 | &nbsp;&nbsp; 73900000 |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2003B (**LIQ**: FEDERAL HOME LOAN <br> BANKS) <br>*(a)* | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3080000 | &nbsp;&nbsp; 3080000 |
| Home Ownership RB Series 2020A  | &nbsp;&nbsp; 1.60% |  | &nbsp;&nbsp; 03/01/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp; 119551 |
| Home Ownership RB Series 2021D (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| Home Ownership RB Series 2024A (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7295000 | &nbsp;&nbsp; 7295000 |
| Home Ownership RB Series 2024B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Home Ownership RB Series 2024C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3915000 | &nbsp;&nbsp; 3915000 |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Housing RB Series 2018A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023B (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9745000 | &nbsp;&nbsp; 9745000 |
| Health System Refunding RB (Cone Health) Series 2023C (**LOC**: TD <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4255000 | &nbsp;&nbsp; 4255000 |
| Health System Refunding RB (Cone Health) Series 2023D <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60190000 | &nbsp;&nbsp; 60190000 |
| Health System Refunding RB (Cone Health) Series 2023E <br> (**LOC**: TRUIST BANK) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30790000 | &nbsp;&nbsp; 30790000 |
| Solid Waste Disposal RB (Coleman Ponderosa) Series 2023 <br> (**LOC**: AGRIBANK FCB) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **232589551** |
| **WYOMING 1.0%** | **WYOMING 1.0%** | **WYOMING 1.0%** | **WYOMING 1.0%** | **WYOMING 1.0%** | **WYOMING 1.0%** |
| **Lincoln Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 69850000 | &nbsp;&nbsp; 69850000 |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 45700000 | &nbsp;&nbsp; 45700000 |
| **Sublette Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (Exxon Mobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 3.89% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 22400000 | &nbsp;&nbsp; 22400000 |
| Pollution Control Refunding RB (ExxonMobil) Series 2014 <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| **Sweetwater Cnty** |  |  |  |  |  |
| RB (Simplot Phosphates) Series 2007 (**LOC**: COOPERATIEVE <br> RABOBANK UA) <br>*(a)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32700000 | &nbsp;&nbsp; 32700000 |
|  |  |  |  |  | &nbsp;&nbsp; **174530000** |
| **MULTIPLE STATES 3.4%** | **MULTIPLE STATES 3.4%** | **MULTIPLE STATES 3.4%** | **MULTIPLE STATES 3.4%** | **MULTIPLE STATES 3.4%** | **MULTIPLE STATES 3.4%** |
| **AllianceBernstein National Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2024 (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |

---

*See financial notes*

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

**49**

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Blackrock Muni Assets Fund Inc** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 74000000 | &nbsp;&nbsp; 74000000 |
| Variable Rate Demand Preferred Shares Series W7A (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 300000000 | &nbsp;&nbsp; 300000000 |
| **Western Asset Managed Municipals Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 2 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp; 12600000 |
|  |  |  |  |  | &nbsp;&nbsp; **593100000** |
| **Total Municipal Securities** <br>**(Cost $17,338,488,383)** | **Total Municipal Securities** <br>**(Cost $17,338,488,383)** | **Total Municipal Securities** <br>**(Cost $17,338,488,383)** | **Total Municipal Securities** <br>**(Cost $17,338,488,383)** | **Total Municipal Securities** <br>**(Cost $17,338,488,383)** | &nbsp;&nbsp; **17338488383** |
| **Total Investments in Securities** <br>**(Cost $17,338,488,383)** | **Total Investments in Securities** <br>**(Cost $17,338,488,383)** | **Total Investments in Securities** <br>**(Cost $17,338,488,383)** | **Total Investments in Securities** <br>**(Cost $17,338,488,383)** | **Total Investments in Securities** <br>**(Cost $17,338,488,383)** | &nbsp;&nbsp; **17338488383** |

---

&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 $4,436,093,000 or 25.3% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index.

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

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| 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 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

At December 31, 2024, 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 Fund & Schwab AMT Tax-Free Money Fund \| Annual Holdings and Financial Statements

**51**

------

Schwab Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $17338488383 |
| Cash |  | 19117 |
| Receivables: |  |  |
| Fund shares sold |  | 223690955 |
| Interest |  | 87243655 |
| Prepaid expenses | + | 128302 |
| **Total assets** |  | **17649570412** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 44672540 |
| Investments bought |  | 35059133 |
| Distributions to shareholders |  | 10691143 |
| Investment adviser and administrator fees |  | 2357198 |
| Shareholder service fees |  | 99994 |
| Independent trustees' fees |  | 210 |
| Accrued expenses | + | 666595 |
| **Total liabilities** |  | **93546813** |
| **Net assets** |  | **$17556023599** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $17556023599 |
| **Net assets** |  | **$17556023599** |

---

&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 | $4345940292 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4344900979 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $13210083307 |  | &nbsp;&nbsp;&nbsp;&nbsp; 13206912040 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

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

------

Schwab Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$548153726** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 30912440 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 6013144 |
| Registration fees |  | 885764 |
| Portfolio accounting fees |  | 263597 |
| Custodian fees |  | 188569 |
| Shareholder reports |  | 96872 |
| Professional fees |  | 64279 |
| Independent trustees' fees |  | 58894 |
| Transfer agent fees  |  | 1320 |
| Other expenses | + | 125198 |
| **Total expenses** |  | **38610077** |
| Expense reduction | – | 1646918 |
| **Net expenses** | – | **36963159** |
| **Net investment income** |  | **511190567** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **231056** |
| **Increase in net assets resulting from operations** |  | **$511421623** |

---

*See financial notes*

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

**53**

------

Schwab Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $511190567 | &nbsp;&nbsp;&nbsp; $473751965 |
| Net realized gains | + | 231056 | &nbsp;&nbsp;&nbsp; 318040 |
| **Increase in net assets from operations** |  | **$511421623** | &nbsp;&nbsp;&nbsp; **$474070005** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($121606338)<br>| &nbsp;&nbsp;&nbsp; ($108431828)<br>|
| Ultra Shares | + | (389780012)<br>| &nbsp;&nbsp;&nbsp; (365521336)<br>|
| **Total distributions** |  | **($511386350)**<br>| &nbsp;&nbsp;&nbsp; **($473953164)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 6071296832 | &nbsp;&nbsp;&nbsp; 7683763914 |
| Ultra Shares | + | 24513762814 | &nbsp;&nbsp;&nbsp; 28650362106 |
| **Total shares sold** |  | **30585059646** | &nbsp;&nbsp;&nbsp; **36334126020** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 87283141 | &nbsp;&nbsp;&nbsp; 76224652 |
| Ultra Shares | + | 284418748 | &nbsp;&nbsp;&nbsp; 270193609 |
| **Total shares reinvested** |  | **371701889** | &nbsp;&nbsp;&nbsp; **346418261** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (5815604674)<br>| &nbsp;&nbsp;&nbsp; (6711058724)<br>|
| Ultra Shares | + | (24135463679)<br>| &nbsp;&nbsp;&nbsp; (27954683454)<br>|
| **Total shares redeemed** |  | **(29951068353)**<br>| &nbsp;&nbsp;&nbsp; **(34665742178)**<br>|
| **Net transactions in fund shares** |  | **1005693182** | &nbsp;&nbsp;&nbsp; **2014802103** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $16550295144 | &nbsp;&nbsp;&nbsp; $14535376200 |
| Total increase | + | 1005728455 | &nbsp;&nbsp;&nbsp; 2014918944 |
| **End of period** |  | **$17556023599** | &nbsp;&nbsp;&nbsp; **$16550295144** |

---

&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*

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

------

Schwab AMT Tax-Free Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.01 | 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>| &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 | 0.03 | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>3,4</sup><br>| 0.11 %<sup>4</sup><br>| 0.31 %<sup>4,5</sup><br>|
| Total expenses | 0.36<br> %<br>| 0.38<br> %<br>| 0.37 %<sup>3</sup><br>| 0.37<br> %<br>| 0.49<br> %<br>|
| Net investment income (loss) | 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; $1234 | &nbsp;&nbsp; $1075 | &nbsp;&nbsp; $875 | &nbsp;&nbsp; $644 | &nbsp;&nbsp; $835 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

**55**

------

Schwab AMT Tax-Free Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>| &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 | 0.03 | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 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 | 0.21<br> %<br>| 0.23<br> %<br>| 0.22 %<sup>5</sup><br>| 0.22<br> %<br>| 0.22 %<sup>7</sup><br>|
| Net investment income (loss) | 3.17<br> %<br>| 3.17<br> %<br>| 1.50<br> %<br>| 0.01<br> %<br>| 0.02 %<sup>7</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $2765 | &nbsp;&nbsp; $2065 | &nbsp;&nbsp; $967 | &nbsp;&nbsp; $161 | &nbsp;&nbsp; $229 |

---

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

<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> 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> Annualized.

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 92.3% OF NET ASSETS | **MUNICIPAL SECURITIES** 92.3% OF NET ASSETS | **MUNICIPAL SECURITIES** 92.3% OF NET ASSETS | **MUNICIPAL SECURITIES** 92.3% OF NET ASSETS | **MUNICIPAL SECURITIES** 92.3% OF NET ASSETS | **MUNICIPAL SECURITIES** 92.3% OF NET ASSETS |
| **ALABAMA 4.2%** | **ALABAMA 4.2%** | **ALABAMA 4.2%** | **ALABAMA 4.2%** | **ALABAMA 4.2%** | **ALABAMA 4.2%** |
| **Alabama Special Care Facility Financing Auth** |  |  |  |  |  |
| RB (Ascension Health) Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6490000 | &nbsp;&nbsp; 6490000 |
| Gas RB Series 2023A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17500000 | &nbsp;&nbsp; 17500000 |
| Gas RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas RB Series 2024D (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12800000 | &nbsp;&nbsp; 12800000 |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7085000 | &nbsp;&nbsp; 7085000 |
| **Huntsville Health Care Auth** |  |  |  |  |  |
| CP  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| CP  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/12/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23200000 | &nbsp;&nbsp; 23200000 |
| Gulf Opportunity Zone RB (SSAB Alabama) Series 2011 (**LOC**: NORDEA <br> BANK ABP) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Recovery Zone Facility RB (SSAB Alabama) Series 2010A <br> (**LOC**: SWEDBANK AB) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 38520000 | &nbsp;&nbsp; 38520000 |
| **Southeast Alabama Gas District** |  |  |  |  |  |
| Gas Supply Refunding RB Series 2024A (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5315000 | &nbsp;&nbsp; 5315000 |
| Gas Supply Refunding RB Series 2024B (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp; 3125000 |
| **Southeast Energy Auth** |  |  |  |  |  |
| Commodity Supply RB (Project No 5) Series 2023A (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2335000 | &nbsp;&nbsp; 2335000 |
| Commodity Supply RB (Project No 6) Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  |  |  |  |  | &nbsp;&nbsp; **167335000** |
| **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** | **ALASKA 0.1%** |
| **Valdez** |  |  |  |  |  |
| Refunding RB (ExxonMobil) Series 2001 <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| Terminal Refunding RB (Exxon) Series 1993C <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5315000 | &nbsp;&nbsp; 5315000 |
|  |  |  |  |  | &nbsp;&nbsp; **5515000** |
| **ARIZONA 1.2%** | **ARIZONA 1.2%** | **ARIZONA 1.2%** | **ARIZONA 1.2%** | **ARIZONA 1.2%** | **ARIZONA 1.2%** |
| **Arizona Health Facilities Auth** |  |  |  |  |  |
| RB (Banner Health) Series 2007B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Banner Health) Series 2015C (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7450000 | &nbsp;&nbsp; 7450000 |

---

*See financial notes*

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

**57**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Arizona IDA** |  |  |  |  |  |
| Hospital Refunding RB (Phoenix Children's Hospital) Series 2019A <br> (**LOC**: TD BANK NA)<br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp; 590000 |
| **Maricopa Cnty IDA** |  |  |  |  |  |
| Hospital RB (HonorHealth) Series 2021C (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| **Salt River Project Agricultural Improvement & Power District** |  |  |  |  |  |
| Electric System RB Series 2023B (**LIQ**: MORGAN STANLEY BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Yavapai Cnty IDA** |  |  |  |  |  |
| RB (Skanon Investments Drake Cement) Series 2010A (**LOC**: BANK OF <br> NOVA SCOTIA) <br>*(d)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18500000 | &nbsp;&nbsp; 18500000 |
|  |  |  |  |  | &nbsp;&nbsp; **46540000** |
| **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** | **CALIFORNIA 0.9%** |
| **California** |  |  |  |  |  |
| GO Bonds Series 2024C2 (**LOC**: BANK OF AMERICA NA)<br> *(d)* | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23940000 | &nbsp;&nbsp; 23937606 |
| **California Statewide Communities Development Auth** |  |  |  |  |  |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 7595000 | &nbsp;&nbsp; 7595000 |
|  |  |  |  |  | &nbsp;&nbsp; **37532606** |
| **COLORADO 2.4%** | **COLORADO 2.4%** | **COLORADO 2.4%** | **COLORADO 2.4%** | **COLORADO 2.4%** | **COLORADO 2.4%** |
| **Colorado Health Facilities Auth** |  |  |  |  |  |
| Hospital RB (Advent Health) Series 2019A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1365000 | &nbsp;&nbsp; 1365000 |
| RB (Intermountain Healthcare) Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| RB (Intermountain Healthcare) Series 2022E <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20620000 | &nbsp;&nbsp; 20620000 |
| RB (Intermountain Healthcare) Series 2024D <br> *(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8590000 | &nbsp;&nbsp; 8590000 |
| RB (Intermountain Healthcare) Series 2024E (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Refunding RB (Children's Hospital Colorado) Series 2020A (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7365000 | &nbsp;&nbsp; 7365000 |
| Refunding RB (SCL Health System) Series 2019A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| **Denver** |  |  |  |  |  |
| Dedicated Tax RB Series 2021A (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Denver SD #1** |  |  |  |  |  |
| GO Bonds Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| **Denver Water Board** |  |  |  |  |  |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Sub Lien Water Revenue CP Series 2023A (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| **Univ of Colorado Hospital Auth** |  |  |  |  |  |
| Refunding RB Series 2018A<br> *(d)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1470000 | &nbsp;&nbsp; 1470000 |
|  |  |  |  |  | &nbsp;&nbsp; **95875000** |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **CONNECTICUT 0.1%** | **CONNECTICUT 0.1%** | **CONNECTICUT 0.1%** | **CONNECTICUT 0.1%** | **CONNECTICUT 0.1%** | **CONNECTICUT 0.1%** |
| **Connecticut HFA** |  |  |  |  |  |
| Housing Mortgage Finance Bonds Series 2024F1 (**LIQ**: BARCLAYS BANK <br> PLC)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; **4000000** |
| **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** |  |  |  |  |  |
| Secured RB Series 2019A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4480000 | &nbsp;&nbsp; 4480000 |
| **District of Columbia** |  |  |  |  |  |
| GO CP BAN Series 2022A (**LOC**: BARCLAYS BANK PLC) | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 12923000 | &nbsp;&nbsp; 12923000 |
| **District of Columbia Water & Sewer Auth** |  |  |  |  |  |
| Extendible CP Series A <br> *(b)* | &nbsp;&nbsp; 3.25% | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 19300000 | &nbsp;&nbsp; 19300000 |
| Public Utility Sub Lien RB Series 2014B2 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18400000 | &nbsp;&nbsp; 18400000 |
| Public Utility Sub Lien Refunding RB Series 2024B1 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4570000 | &nbsp;&nbsp; 4570000 |
|  |  |  |  |  | &nbsp;&nbsp; **59673000** |
| **FLORIDA 3.4%** | **FLORIDA 3.4%** | **FLORIDA 3.4%** | **FLORIDA 3.4%** | **FLORIDA 3.4%** | **FLORIDA 3.4%** |
| **Collier Cnty Health Facilities Auth** |  |  |  |  |  |
| RB (Cleveland Clinic) Series 2003C1 | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/28/25 | &nbsp;&nbsp; 6905000 | &nbsp;&nbsp; 6905000 |
| **Florida** |  |  |  |  |  |
| Capital Outlay Refunding Bonds Series 2017A | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245000 |
| **Florida Dept of Transportation** |  |  |  |  |  |
| Turnpike RB Series 2024C (**LIQ**: MORGAN STANLEY BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Florida Housing Finance Corp** |  |  |  |  |  |
| M/F Housing RB (Hudson Ridge Apts) Series 2008L (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| M/F Mortgage RB (Autumn Place Apts) Series 2008K1 (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5220000 | &nbsp;&nbsp; 5220000 |
| **Florida Local Government Finance Commission** |  |  |  |  |  |
| CP Series A1 (**LOC**: JPMORGAN CHASE BANK NA) | &nbsp;&nbsp; 3.16% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Florida State Board of Education** |  |  |  |  |  |
| Public Education Capital Outlay Refunding Bonds Series 2016F  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302037 |
| Public Education Capital Outlay Refunding Bonds Series 2022B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176225 |
| **Halifax Hospital Medical Center** |  |  |  |  |  |
| Hospital Refunding RB Series 2008 (**LOC**: JPMORGAN CHASE BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| **Hillsborough Cnty IDA** |  |  |  |  |  |
| Health System RB (Baycare Health) Series 2020B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5675000 | &nbsp;&nbsp; 5675000 |
| Health System RB (Baycare Health) Series 2020D (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1775000 | &nbsp;&nbsp; 1775000 |
| **Jacksonville** |  |  |  |  |  |
| CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 13800000 | &nbsp;&nbsp; 13800000 |
| Health Care Refunding RB (Baptist Health) Series 2019B <br> *(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| **Manatee Cnty** |  |  |  |  |  |
| Refunding RB Series 2022 (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Miami-Dade Cnty** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2635000 | &nbsp;&nbsp; 2635000 |
| Professional Sports Franchise Facilities Tax RB Series 2009E (**LOC**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13900000 | &nbsp;&nbsp; 13900000 |
| Special Obligation RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.14% |  | &nbsp;&nbsp; 01/02/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5430000 | &nbsp;&nbsp; 5430000 |

---

*See financial notes*

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

**59**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Transit System Sales Surtax RB Series 2022 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| **South Broward Hospital District** |  |  |  |  |  |
| Hospital RB Series 2016A & 2018 (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 935000 |
|  |  |  |  |  | &nbsp;&nbsp; **134338262** |
| **GEORGIA 1.4%** | **GEORGIA 1.4%** | **GEORGIA 1.4%** | **GEORGIA 1.4%** | **GEORGIA 1.4%** | **GEORGIA 1.4%** |
| **Atlanta** |  |  |  |  |  |
| Water & Wastewater CP Series 2024A1 (**LOC**: WELLS FARGO BANK NA) | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 22995000 | &nbsp;&nbsp; 22995000 |
| **Columbia Cnty Hospital Auth** |  |  |  |  |  |
| Revenue Anticipation Certificates (Wellstar Health) Series 2023A <br> (**LOC**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3650000 |
| **Georgia** |  |  |  |  |  |
| GO Bonds Series 2021A (**LIQ**: CITIBANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Main Street Natural Gas Inc** |  |  |  |  |  |
| Gas Supply RB Series 2023B <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Gas Supply RB Series 2023C <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2710000 | &nbsp;&nbsp; 2710000 |
| Gas Supply RB Series 2023E2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
|  |  |  |  |  | &nbsp;&nbsp; **55355000** |
| **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** | **ILLINOIS 2.8%** |
| **Chicago Transit Auth** |  |  |  |  |  |
| 2nd Lien Sales Tax RB Series 2017 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4400000 |
| **Illinois Finance Auth** |  |  |  |  |  |
| Pooled Program CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 6626000 | &nbsp;&nbsp; 6626000 |
| RB (Advocate Health) Series 2008C-1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15750000 | &nbsp;&nbsp; 15750000 |
| RB (Chicago Horticultural Society) Series 1999 (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| RB (Northshore Edward Elmhurst Health) Series 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7695000 | &nbsp;&nbsp; 7695000 |
| RB (Presence Health) Series 2016C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150284 |
| RB (Uhlich Children's Advantage Network) Series 2006 (**LOC**: US BANK <br> NATIONAL ASSOCIATION) <br>*(d)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 630000 |
| RB (Univ of Chicago Medical Center) Series 2009D1 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13965000 | &nbsp;&nbsp; 13965000 |
| RB (Univ of Chicago Medical Center) Series 2016B (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10900000 | &nbsp;&nbsp; 10900000 |
| RB (Univ of Chicago Medical Center) Series 2022A & 2016B <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| RB (Univ of Chicago) Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; 1550000 |
| Refunding RB (OSF Healthcare System) Series 2018B (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp; 1075000 |
| Refunding RB (OSF Healthcare System) Series 2018C (**LOC**: PNC BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 685000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (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** |  |  |  |  |  |
| RB Series 2023D (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB Series 2023P (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| **Illinois Hsg Development Auth March 2016 S/F** |  |  |  |  |  |
| RB Series 2024I (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5830000 | &nbsp;&nbsp; 5830000 |
| **Illinois Regional Transportation Auth** |  |  |  |  |  |
| GO Bonds Series 2000A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| GO Bonds Series 2018B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Illinois Toll Highway Auth** |  |  |  |  |  |
| Toll Highway Sr RB Series 2016B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2165000 | &nbsp;&nbsp; 2165000 |
| Toll Highway Sr RB Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Toll Highway Sr RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp; 1975000 |
| Toll Highway Sr RB Series 2021A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Toll Highway Sr RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.34% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
|  |  |  |  |  | &nbsp;&nbsp; **112191284** |
| **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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28500000 | &nbsp;&nbsp; 28500000 |
| Economic Development RB (Cargill) Series 2011 <br> *(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Health System RB (Franciscan Alliance) Series 2016A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp; 890000 |
| Hospital RB (Parkview Health System) Series 2009B (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 650000 |
| Refunding RB (Trinity Health) Series 2008D1 <br> *(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23410000 | &nbsp;&nbsp; 23410000 |
| Refunding RB (Trinity Health) Series 2008D2  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **Indiana Housing & Community Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2024A1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5360000 | &nbsp;&nbsp; 5360000 |
| S/F Mortgage RB Series 2024B1 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6035000 | &nbsp;&nbsp; 6035000 |
| S/F Mortgage RB Series 2024C1 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3965000 | &nbsp;&nbsp; 3965000 |
| S/F Mortgage RB Series 2024D1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
|  |  |  |  |  | &nbsp;&nbsp; **96810000** |
| **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; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| Midwestern Disaster Area RB (Cargill) Series 2009B <br> *(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp; 1390000 |
| Midwestern Disaster Area RB (Cargill) Series 2012 <br> *(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Midwestern Disaster Area RB (Farmers Cooperative) Series 2010 <br> (**LOC**: COBANK ACB) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4060000 | &nbsp;&nbsp; 4060000 |
| RB (UnityPoint Health) Series 2018F (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
|  |  |  |  |  | &nbsp;&nbsp; **18350000** |

---

*See financial notes*

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

**61**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **KENTUCKY 1.5%** | **KENTUCKY 1.5%** | **KENTUCKY 1.5%** | **KENTUCKY 1.5%** | **KENTUCKY 1.5%** | **KENTUCKY 1.5%** |
| **Louisville & Jefferson Cnty Metro Government** |  |  |  |  |  |
| Health System RB (Norton Healthcare) Series 2023D (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16700000 | &nbsp;&nbsp; 16700000 |
| **Louisville & Jefferson Cnty Metro Sewer District** |  |  |  |  |  |
| Sewer & Drainage System RB Series 2023C (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp; 1195000 |
| Sewer & Drainage System Sub CP Series 2023A2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>| &nbsp;&nbsp; 3.19% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 31097000 | &nbsp;&nbsp; 31097000 |
| **Public Energy Auth of Kentucky** |  |  |  |  |  |
| Gas Supply RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5105000 | &nbsp;&nbsp; 5105000 |
| Gas Supply Refunding RB Series 2023A1 (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4765000 | &nbsp;&nbsp; 4765000 |
|  |  |  |  |  | &nbsp;&nbsp; **58862000** |
| **LOUISIANA 0.4%** | **LOUISIANA 0.4%** | **LOUISIANA 0.4%** | **LOUISIANA 0.4%** | **LOUISIANA 0.4%** | **LOUISIANA 0.4%** |
| **East Baton Rouge Parish IDB** |  |  |  |  |  |
| RB (ExxonMobil) Series 2010A <br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| RB (ExxonMobil) Series 2010B <br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| **Louisiana Public Facilities Auth** |  |  |  |  |  |
| Hospital RB (Louisiana Children's Medical Center) Series 2017A <br> (**LOC**: UBS AG) <br>*(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Refunding RB (Christus Health) Series 2009B2 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| **Plaquemines Port, Harbor & Terminal District** |  |  |  |  |  |
| Port Facilities Refunding RB Series 1984B (**LOC**: WELLS FARGO BANK <br> NA)<br>*(b)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
|  |  |  |  |  | &nbsp;&nbsp; **13900000** |
| **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** | **MAINE 0.2%** |
| **Maine State Housing Auth** |  |  |  |  |  |
| Mortgage RB Series 2024D & 2024F (**LIQ**: BARCLAYS BANK PLC)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; **5900000** |
| **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** | **MARYLAND 1.0%** |
| **Howard Cnty** |  |  |  |  |  |
| Recovery Zone Facility RB (Lorien at Elkridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Recovery Zone Facility RB (Meadowridge) Series 2010 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6425000 | &nbsp;&nbsp; 6425000 |
| **Maryland Health & Higher Educational Facilities Auth** |  |  |  |  |  |
| RB Series 1985B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6355000 | &nbsp;&nbsp; 6355000 |
| **Montgomery Cnty** |  |  |  |  |  |
| RB (Trinity Health) Series 2013MD <br> *(b)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| RB (Trinity Health) Series 2015MD (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8810000 | &nbsp;&nbsp; 8810000 |
| **Montgomery Cnty Housing Opportunities Commission** |  |  |  |  |  |
| M/F Housing RB Series 2023A (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| **Washington Suburban Sanitary District** |  |  |  |  |  |
| GO BAN Series A (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp; 2050000 |
| Public Improvement Bonds Series 2023  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/25 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp; 216504 |
|  |  |  |  |  | &nbsp;&nbsp; **40956504** |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **MASSACHUSETTS 11.2%** | **MASSACHUSETTS 11.2%** | **MASSACHUSETTS 11.2%** | **MASSACHUSETTS 11.2%** | **MASSACHUSETTS 11.2%** | **MASSACHUSETTS 11.2%** |
| **Massachusetts** |  |  |  |  |  |
| GO Bonds Series 2016B (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| GO Bonds Series 2022C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| GO Bonds Series 2024E (**LIQ**: DEUTSCHE BANK AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| GO Bonds Series 2024I (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **Massachusetts Bay Transportation Auth** |  |  |  |  |  |
| Sales Tax CP Series A (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Sales Tax CP Series B (**LIQ**: TD BANK NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16500000 |
| Sales Tax CP Series C (**LIQ**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 23500000 | &nbsp;&nbsp; 23500000 |
| Sub Sales Tax Bonds Series 2022A (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2635000 | &nbsp;&nbsp; 2635000 |
| **Massachusetts Development Finance Agency** |  |  |  |  |  |
| RB (Chelsea Jewish Lifecare) Series 2019 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(a)(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4745000 | &nbsp;&nbsp; 4745000 |
| RB (Children's Hospital Issue) Series V 2024 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 24920000 | &nbsp;&nbsp; 24920000 |
| **Massachusetts Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Baystate Medical Center) Series 2009J2 (**LOC**: TD BANK NA)<br> *(a)(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245000 |
| **Massachusetts HFA** |  |  |  |  |  |
| Housing RB Series 2016I (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14745000 | &nbsp;&nbsp; 14745000 |
| Housing RB Series 2018B (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| M/F Housing Bonds Series 2024A1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp; 1215000 |
| **Nuveen AMT-Free Municipal Credit Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 55300000 | &nbsp;&nbsp; 55300000 |
| Variable Rate Demand Preferred Shares Series 2 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20900000 | &nbsp;&nbsp; 20900000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| Variable Rate Demand Preferred Shares Series 5 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 51800000 | &nbsp;&nbsp; 51800000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 29700000 | &nbsp;&nbsp; 29700000 |
| **Nuveen AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(d)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35700000 | &nbsp;&nbsp; 35700000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: BARCLAYS BANK <br> PLC) <br>*(a)(d)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 71000000 | &nbsp;&nbsp; 71000000 |
| Variable Rate Demand Preferred Shares Series C (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 55500000 | &nbsp;&nbsp; 55500000 |
|  |  |  |  |  | &nbsp;&nbsp; **449365000** |
| **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** | **MICHIGAN 2.2%** |
| **Lenawee Cnty Economic Development Corp** |  |  |  |  |  |
| Refunding RB (Siena Heights Univ) Series 2009 (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp; 2390000 |

---

*See financial notes*

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

**63**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Michigan Finance Auth** |  |  |  |  |  |
| Hospital RB (CHE Trinity Health) Series 2013MI1 <br> *(b)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 17530000 | &nbsp;&nbsp; 17530000 |
| Hospital Refunding RB (Henry Ford Health System) Series 2016 <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4550000 | &nbsp;&nbsp; 4550000 |
| Hospital Refunding RB (Trinity Health) Series 2017MI (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp; 1045000 |
| Hospital Refunding RB (Trinity Health) Series 2019MI-1 <br> *(b)* | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3106125 |
| **Michigan Hospital Finance Auth** |  |  |  |  |  |
| Refunding RB (Ascension Health) Series 2010F7 (**LIQ**: JPMORGAN <br> CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| **Michigan Housing Development Auth** |  |  |  |  |  |
| S/F Mortgage RB Series 2006C (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10725000 | &nbsp;&nbsp; 10725000 |
| S/F Mortgage RB Series 2023B (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| S/F Mortgage RB Series 2024A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp; 1955000 |
| **Monroe Public Schools** |  |  |  |  |  |
| School Building & Site Bonds Series 2020I (**LOC**: TORONTO-DOMINION <br> BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Univ of Michigan** |  |  |  |  |  |
| CP Notes Series L1  | &nbsp;&nbsp; 3.21% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| General RB Series 2009B  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| General RB Series 2017A (**ESCROW**) (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5760000 | &nbsp;&nbsp; 5760000 |
|  |  |  |  |  | &nbsp;&nbsp; **88311125** |
| **MINNESOTA 3.0%** | **MINNESOTA 3.0%** | **MINNESOTA 3.0%** | **MINNESOTA 3.0%** | **MINNESOTA 3.0%** | **MINNESOTA 3.0%** |
| **Burnsville** |  |  |  |  |  |
| M/F Housing Refunding RB (Bridgeway Apts) Series 2003 (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1750000 |
| **Eden Prairie** |  |  |  |  |  |
| M/F Housing Refunding RB (Park At City West Apts) Series 2001 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14805000 | &nbsp;&nbsp; 14805000 |
| **Minneapolis** |  |  |  |  |  |
| Student Residence RB Series 2003 (**LOC**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 3.87% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| **Rochester** |  |  |  |  |  |
| Health Care Facilities RB (Mayo Clinic) Series 2008A <br> *(d)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40300000 | &nbsp;&nbsp; 40300000 |
| Health Care Facilities RB (Mayo Clinic) Series 2014  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Health Care Facilities RB (Mayo Clinic) Series 2016 <br> *(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 49350000 | &nbsp;&nbsp; 49350000 |
| **St. Louis Park** |  |  |  |  |  |
| M/F Housing RB (Shoreham Project) Series 2015B (**LOC**: FEDERAL HOME <br> LOAN BANKS)<br>*(d)* | &nbsp;&nbsp; 3.91% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
|  |  |  |  |  | &nbsp;&nbsp; **119605000** |
| **MISSISSIPPI 1.2%** | **MISSISSIPPI 1.2%** | **MISSISSIPPI 1.2%** | **MISSISSIPPI 1.2%** | **MISSISSIPPI 1.2%** | **MISSISSIPPI 1.2%** |
| **Mississippi Business Finance Corp** |  |  |  |  |  |
| Gulf Opportunity Zone IDRB (Chevron) Series 2010A <br> *(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1425000 | &nbsp;&nbsp; 1425000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011D <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2920000 | &nbsp;&nbsp; 2920000 |
| Gulf Opportunity Zone IDRB (Chevron) Series 2011E <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| IDRB (Chevron) Series 2007A <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13400000 | &nbsp;&nbsp; 13400000 |
| IDRB (Chevron) Series 2007E <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 525000 |
| IDRB (Chevron) Series 2010H <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6460000 | &nbsp;&nbsp; 6460000 |
| IDRB (Chevron) Series 2011A <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6140000 | &nbsp;&nbsp; 6140000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| IDRB (Chevron) Series 2011B <br> *(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1830000 | &nbsp;&nbsp; 1830000 |
| Port Facilities Refunding RB (Chevron) Series 2023 <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8400000 | &nbsp;&nbsp; 8400000 |
| **Mississippi Home Corp** |  |  |  |  |  |
| S/F Mortgage RB Series 2023C (**LIQ**: TORONTO-DOMINION BANK/THE)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
|  |  |  |  |  | &nbsp;&nbsp; **48600000** |
| **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** | **MISSOURI 1.0%** |
| **Kansas City** |  |  |  |  |  |
| Special Obligation Refunding RB (H. Roe Bartle Convention Ctr) <br> Series 2008F (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.79% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4225000 | &nbsp;&nbsp; 4225000 |
| **Missouri Development Finance Board** |  |  |  |  |  |
| RB (Kopytek Printing) Series 2010 (**LOC**: FEDERAL HOME LOAN BANKS)<br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 975000 | &nbsp;&nbsp; 975000 |
| **Missouri Health & Educational Facilities Auth** |  |  |  |  |  |
| Health Facilities RB (BJC Health System) Series 2021A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250932 |
| Health Facilities RB (CoxHealth) Series 2008BC (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7805000 | &nbsp;&nbsp; 7805000 |
| Health Facilities RB (Mercy Health) Series 2020 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4590000 | &nbsp;&nbsp; 4590000 |
| Health Facilities RB (Mercy Health) Series 2023 (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3520000 | &nbsp;&nbsp; 3520000 |
| RB (Ascension Health) Series 2003C2 <br> *(d)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14495000 | &nbsp;&nbsp; 14495000 |
| **St Louis County** |  |  |  |  |  |
| Special Obligation RB (Convention Center) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
|  |  |  |  |  | &nbsp;&nbsp; **41505932** |
| **NEBRASKA 0.2%** | **NEBRASKA 0.2%** | **NEBRASKA 0.2%** | **NEBRASKA 0.2%** | **NEBRASKA 0.2%** | **NEBRASKA 0.2%** |
| **Central Plains Energy** |  |  |  |  |  |
| Gas RB Series 2022-1 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp; 655000 |
| **Nebraska Investment Finance Auth** |  |  |  |  |  |
| S/F Housing RB Series 2024C (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1910000 | &nbsp;&nbsp; 1910000 |
| S/F Housing RB Series 2024E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Washington Cnty** |  |  |  |  |  |
| IDRB (Cargill) Series 2010B <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  |  |  |  |  | &nbsp;&nbsp; **8065000** |
| **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; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; **450000** |
| **NEW HAMPSHIRE 0.7%** | **NEW HAMPSHIRE 0.7%** | **NEW HAMPSHIRE 0.7%** | **NEW HAMPSHIRE 0.7%** | **NEW HAMPSHIRE 0.7%** | **NEW HAMPSHIRE 0.7%** |
| **National Fin Auth Novant Health** |  |  |  |  |  |
| Health Care Facilities RB (Novant Health) Series 2024B (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2880000 | &nbsp;&nbsp; 2880000 |
| Health Care Facilities RB (Novant Health) Series 2024C (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 27000000 |
|  |  |  |  |  | &nbsp;&nbsp; **29880000** |

---

*See financial notes*

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

**65**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **NEW JERSEY 0.5%** | **NEW JERSEY 0.5%** | **NEW JERSEY 0.5%** | **NEW JERSEY 0.5%** | **NEW JERSEY 0.5%** | **NEW JERSEY 0.5%** |
| **Berkeley Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4024223 |
| **Gloucester Cnty Improvement Auth** |  |  |  |  |  |
| Loan RB (Rowan Univ) Series 2024 (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| **Hudson Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225190 |
| **Teaneck Township** |  |  |  |  |  |
| BAN 2024B | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4522888 |
| **Verona Township** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 3014750 | &nbsp;&nbsp; 3018747 |
| **Woodbridge** |  |  |  |  |  |
| BAN | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 8175000 | &nbsp;&nbsp; 8238551 |
|  |  |  |  |  | &nbsp;&nbsp; **21694599** |
| **NEW YORK 17.2%** | **NEW YORK 17.2%** | **NEW YORK 17.2%** | **NEW YORK 17.2%** | **NEW YORK 17.2%** | **NEW YORK 17.2%** |
| **Amityville UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3013811 |
| **Bay Shore UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20087981 |
| **Colonie** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 8787275 | &nbsp;&nbsp; 8801882 |
| **Connetquot CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18081929 |
| **Cornwall CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/18/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4016069 |
| **Fairpoint CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/17/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25116526 |
| **Frontier CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12052184 |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2509442 |
| **Hyde Park CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4017486 |
| **Kings Park CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 10600000 | &nbsp;&nbsp; 10624148 |
| **Kingston** |  |  |  |  |  |
| BAN Series 2024D | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 11114452 | &nbsp;&nbsp; 11168912 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3821224 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Transportation RB Series 2015E3 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Transportation Refunding RB Series 2020B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Middle Country CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5524408 |
| **Minisink Valley CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4517689 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (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** |  |  |  |  |  |
| GO Bonds Fiscal 2013 Series F3 (**LIQ**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 29700000 | &nbsp;&nbsp; 29700000 |
| GO Bonds Fiscal 2014 Series D4 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3560000 | &nbsp;&nbsp; 3560000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| GO Bonds Fiscal 2019 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4450000 | &nbsp;&nbsp; 4450000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| GO Bonds Fiscal 2022 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14750000 | &nbsp;&nbsp; 14750000 |
| GO Bonds Fiscal 2024 Series C (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1925000 | &nbsp;&nbsp; 1925000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| M/F Housing RB Series 2024 A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3195000 | &nbsp;&nbsp; 3195000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14850000 | &nbsp;&nbsp; 14850000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA6 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23840000 | &nbsp;&nbsp; 23840000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 21085000 | &nbsp;&nbsp; 21085000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3205000 | &nbsp;&nbsp; 3205000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2255000 | &nbsp;&nbsp; 2255000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1&3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 920000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series BB1 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6700000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & 2020 <br> Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8445000 | &nbsp;&nbsp; 8445000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series BB1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2085000 | &nbsp;&nbsp; 2085000 |
| Water & Sewer System RB Fiscal 2010 Series CC (**LIQ**: STATE STREET <br> BANK AND TRUST COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| Water & Sewer System RB Fiscal 2021 Series CC1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2445000 |
| Water & Sewer System RB Fiscal 2023 Series AA3 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |

---

*See financial notes*

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

**67**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4505000 | &nbsp;&nbsp; 4505000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &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; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5555000 | &nbsp;&nbsp; 5555000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1020000 | &nbsp;&nbsp; 1020000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series A3 (**LIQ**: BANK OF <br> NEW YORK MELLON/THE) <br>*(d)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31085000 | &nbsp;&nbsp; 31085000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3280000 | &nbsp;&nbsp; 3280000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8475000 | &nbsp;&nbsp; 8475000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2360000 | &nbsp;&nbsp; 2360000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4045000 | &nbsp;&nbsp; 4045000 |
| Future Tax Secured Sub Bonds Fiscal Series 2017E1 & 2017B1 & <br> 2018B1 (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3295000 | &nbsp;&nbsp; 3295000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & 2023F1 <br> & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19530000 | &nbsp;&nbsp; 19530000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| RB (Columbia Univ) Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1085000 | &nbsp;&nbsp; 1085000 |
| State Personal Income Tax RB Series 2015B (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10005000 | &nbsp;&nbsp; 10005000 |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 265000 |
| State Sales Tax RB Series 2018E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4475000 | &nbsp;&nbsp; 4475000 |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (160 Madison Ave) Series 2013A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE)<br>*(d)* | &nbsp;&nbsp; 4.15% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp; 6100000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| CP Series 1  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| CP Series 1  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp; 1070000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (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**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9025000 | &nbsp;&nbsp; 9025000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| **New York State Urban Development Corp** |  |  |  |  |  |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 895000 | &nbsp;&nbsp; 895000 |
| **North Syracuse CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15075473 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5020639 |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26300000 | &nbsp;&nbsp; 26300000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Variable Rate Demand Preferred Shares Series 5 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17100000 | &nbsp;&nbsp; 17100000 |
| **Oneida Cnty** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Penn Yan CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3514247 |
| **Ramapo Housing Auth** |  |  |  |  |  |
| RB (Fountainview at College Road) Series 1998 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2785000 | &nbsp;&nbsp; 2785000 |
| **Red Hook CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6026516 |
| **Smithtown CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14068170 |
| **South Country CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5019372 |
| **South Huntington UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11052116 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10063456 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7044938 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| General RB Series 2001C (**LOC**: BARCLAYS BANK PLC) <br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8955000 | &nbsp;&nbsp; 8955000 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6525000 | &nbsp;&nbsp; 6525000 |
| General Refunding RB Series 2005B4A (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1170000 | &nbsp;&nbsp; 1170000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7360000 | &nbsp;&nbsp; 7360000 |
| Payroll Mobility Tax Sr Lien Refunding Bonds Series 2021A1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10195000 | &nbsp;&nbsp; 10195000 |

---

*See financial notes*

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

**69**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1050000 |
| Sales Tax RB Series 2023A & 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10690000 | &nbsp;&nbsp; 10690000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sales Tax RB Series 2024A1 (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8041279 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4022194 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5021903 |
| **West Genesee CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 5065000 | &nbsp;&nbsp; 5086079 |
|  |  |  |  |  | &nbsp;&nbsp; **688470073** |
| **OHIO 1.8%** | **OHIO 1.8%** | **OHIO 1.8%** | **OHIO 1.8%** | **OHIO 1.8%** | **OHIO 1.8%** |
| **Akron, Bath & Copley Jt Township Hospital District** |  |  |  |  |  |
| Hospital RB (Summa Health) Series 2017A (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8825000 | &nbsp;&nbsp; 8825000 |
| Hospital RB (Summa Health) Series 2017B (**LOC**: BMO BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3550000 | &nbsp;&nbsp; 3550000 |
| RB (Concordia Lutheran Obligated Group) Series 2013A (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Concordia Lutheran Obligated Group) Series 2018B (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7400000 |
| **Allen Cnty** |  |  |  |  |  |
| Hospital Facilities RB (Bon Secours Mercy Health) Series 2010D <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp; 2460000 |
| **Franklin Cnty** |  |  |  |  |  |
| Hospital Facilities RB (OhioHealth) Series 2015 (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Montgomery Cnty** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Kettering Health) Series 1996 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 755000 | &nbsp;&nbsp; 755000 |
| Hospital Facilities Refunding RB (Kettering Health) Series 2012 <br> (**LOC**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9890000 | &nbsp;&nbsp; 9890000 |
| **Ohio** |  |  |  |  |  |
| Hospital RB (University Hospitals Health System) Series 2012A <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Hospital RB (University Hospitals Health System) Series 2018A <br> (**LOC**: PNC BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1350000 |
| Hospital RB (University Hospitals Health System) Series 2018B <br> (**LOC**: PNC BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp; 595000 |
| Hospital RB (University Hospitals Health System) Series 2023C <br> (**LOC**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (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 2024C (**LIQ**: JPMORGAN CHASE BANK <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Ohio Higher Educational Facility Commission** |  |  |  |  |  |
| Hospital RB (Cleveland Clinic Health System) Series 2008B5  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Hospital RB (Cleveland Clinic Health System) Series 2008B6  | &nbsp;&nbsp; 3.11% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Ohio Hospital Facilities** |  |  |  |  |  |
| Hospital Refunding RB (Cleveland Clinic Health System) Series 2017A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| **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; 02/03/25 | &nbsp;&nbsp; 3870000 | &nbsp;&nbsp; 3870000 |
|  |  |  |  |  | &nbsp;&nbsp; **70525000** |
| **OREGON 0.8%** | **OREGON 0.8%** | **OREGON 0.8%** | **OREGON 0.8%** | **OREGON 0.8%** | **OREGON 0.8%** |
| **Beaverton SD #48J** |  |  |  |  |  |
| GO Bonds Series 2022B (**GTY**: OREGON (STATE OF)) (**LIQ**: JPMORGAN <br> CHASE BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| **Clackamas Cnty SD #62** |  |  |  |  |  |
| GO Refunding Bonds Series 2018B (**GTY**: OREGON (STATE OF)) <br> (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3910000 | &nbsp;&nbsp; 3910000 |
| **Clatsop Cnty SD No 30** |  |  |  |  |  |
| GO Bonds Series 2019B (**GTY**: OREGON (STATE OF)) | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/15/25 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130971 |
| **Oregon** |  |  |  |  |  |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.30% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 15532000 | &nbsp;&nbsp; 15532000 |
| Highway Tax 2nd Sub Lien CP Series A2 (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 6281000 | &nbsp;&nbsp; 6281000 |
| **Oregon Health, Housing, Educational & Cultural Facilities Auth** |  |  |  |  |  |
| RB (Assumption Village) Series 2001A (**LOC**: US BANK NATIONAL <br> ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3415000 | &nbsp;&nbsp; 3415000 |
|  |  |  |  |  | &nbsp;&nbsp; **31933971** |
| **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** | **PENNSYLVANIA 3.4%** |
| **Adams Cnty IDA** |  |  |  |  |  |
| RB (Gettysburg Fdn) Series 2006A (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| **Beaver Cnty IDA** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2018A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6750000 | &nbsp;&nbsp; 6750000 |
| **Butler Cnty Hospital Auth** |  |  |  |  |  |
| RB (Concordia Lutheran) Series 2012A (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10050000 | &nbsp;&nbsp; 10050000 |
| **Butler Cnty Industrial Development Auth** |  |  |  |  |  |
| RB (Concordia Lutheran Ministries) Series 2004A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2995000 | &nbsp;&nbsp; 2995000 |
| **Chester Cnty Health & Ed** |  |  |  |  |  |
| RB (Tel Hai Retirement Community) Series 2009 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5990000 | &nbsp;&nbsp; 5990000 |
| RB (Tel Hai Retirement Community) Series 2020 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 650000 |

---

*See financial notes*

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

**71**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Lancaster Industrial Development Auth** |  |  |  |  |  |
| RB (The Mennonite Home) Series 2007 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO) <br>*(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14855000 | &nbsp;&nbsp; 14855000 |
| **Lehigh Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (Lehigh Valley Health Network) Series 2019A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5705000 | &nbsp;&nbsp; 5705000 |
| Hospital RB (Lehigh Valley Health) Series 2012B (**LOC**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 29145000 | &nbsp;&nbsp; 29145000 |
| **Lycoming Cnty Auth** |  |  |  |  |  |
| RB (Lycoming College) Series 2013S1 (**LOC**: MANUFACTURERS AND <br> TRADERS TRUST CO)<br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 630000 |
| **Montgomery Cnty Redevelopment Auth** |  |  |  |  |  |
| M/F Housing RB (Forge Gate Apts) Series 2001A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4035000 | &nbsp;&nbsp; 4035000 |
| **Northampton Cnty General Purpose Auth** |  |  |  |  |  |
| Hospital RB (St Luke's Univ Health) Series 2024B (**LOC**: TD BANK NA)<br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| **Pennsylvania HFA** |  |  |  |  |  |
| S/F Mortgage RB Series 2022140A (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6195000 | &nbsp;&nbsp; 6195000 |
| S/F Mortgage RB Series 2023-142A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| S/F Mortgage RB Series 2023-143A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8665000 | &nbsp;&nbsp; 8665000 |
| S/F Mortgage RB Series 2024-144A (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| S/F Mortgage RB Series 2024-146A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp; 2505000 |
| S/F Mortgage RB Series 2024-147A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| **Pennsylvania Higher Educational Facilities Auth** |  |  |  |  |  |
| RB (Thomas Jefferson Univ) Series 2024D1 (**LOC**: BANK OF AMERICA <br> NA) <br>*(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 950000 |
| RB (Thomas Jefferson Univ) Series 2024D2 (**LOC**: PNC BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
|  |  |  |  |  | &nbsp;&nbsp; **136125000** |
| **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 Bonds Series 82-A (**LIQ**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; **4500000** |
| **SOUTH CAROLINA 1.5%** | **SOUTH CAROLINA 1.5%** | **SOUTH CAROLINA 1.5%** | **SOUTH CAROLINA 1.5%** | **SOUTH CAROLINA 1.5%** | **SOUTH CAROLINA 1.5%** |
| **Charleston County SD** |  |  |  |  |  |
| GO BAN Series 2024B | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15058985 |
| **Patriots Energy Group Financing Agency** |  |  |  |  |  |
| Gas Supply RB Series 2023A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Gas Supply RB Series 2023B1 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6125000 | &nbsp;&nbsp; 6125000 |
| Gas Supply RB Series 2023B1&B2 <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **South Carolina Housing Finance & Development Auth** |  |  |  |  |  |
| M/F Housing RB (Broad River Village Apts) Series 2020 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8950000 | &nbsp;&nbsp; 8950000 |
| M/F Rental Housing RB (Franklin Square Apts) Series 2008 <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9260000 | &nbsp;&nbsp; 9260000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **South Carolina Jobs Economic Development Auth** |  |  |  |  |  |
| 1st Lien Economic Development RB (Port Royal Village Apts) <br> Series 2021A (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(d)* | &nbsp;&nbsp; 3.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
|  |  |  |  |  | &nbsp;&nbsp; **60128985** |
| **TENNESSEE 2.5%** | **TENNESSEE 2.5%** | **TENNESSEE 2.5%** | **TENNESSEE 2.5%** | **TENNESSEE 2.5%** | **TENNESSEE 2.5%** |
| **Blount Cnty Public Building Auth** |  |  |  |  |  |
| Public Improvement Bonds Series E6A (**LOC**: TRUIST BANK)<br> *(d)* | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| **Greeneville Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2018A (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| **Johnson City Health & Educational Facilities Board** |  |  |  |  |  |
| Hospital RB (Ballad Health) Series 2022C (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Hospital Refunding RB (Ballad Health) Series 2022B (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 4.18% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40735000 | &nbsp;&nbsp; 40735000 |
| **Metro Government of Nashville & Davidson Cnty Health & Educational** <br> **Facilities Board**<br>|  |  |  |  |  |
| Educational Facilities RB (Belmont Univ) Series 2023 (**LOC**: ROYAL BANK <br> OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3610000 | &nbsp;&nbsp; 3610000 |
| **Tennessee Housing Development Agency** |  |  |  |  |  |
| Residential Finance Program Bonds Series 2024-3B | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 10/01/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
|  |  |  |  |  | &nbsp;&nbsp; **99305000** |
| **TEXAS 17.8%** | **TEXAS 17.8%** | **TEXAS 17.8%** | **TEXAS 17.8%** | **TEXAS 17.8%** | **TEXAS 17.8%** |
| **Aldine ISD** |  |  |  |  |  |
| ULT GO Refunding Bond Series 2016 (**GTY**: TEXAS PERMANENT SCHOOL <br> FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100196 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 130255 |
| **Aledo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 155285 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| **Alief ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200336 |
| **Arlington Higher Education Finance Corp** |  |  |  |  |  |
| Education RB (Riverwalk Education Foundation) Series 2022 <br> (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9225000 | &nbsp;&nbsp; 9225000 |
| RB (Harmony Public Schools) Series 2021A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100026 |
| **Arlington ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 986934 |
| **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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |

---

*See financial notes*

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

**73**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Boerne ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300379 |
| **Brazosport ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100184 |
| **Bridge ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2605000 | &nbsp;&nbsp; 2605000 |
| **Brownsville** |  |  |  |  |  |
| Utilities System CP Series A (**LOC**: PNC BANK NA) | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18000000 |
| **Bryan ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150114 |
| **Canutillo ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 265518 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| **Conroe ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 195363 |
| **Crowley ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: UBS AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2910000 | &nbsp;&nbsp; 2910000 |
| **Cypress-Fairbanks ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2019 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250463 |
| **Dallas Area Rapid Transit** |  |  |  |  |  |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 8800000 | &nbsp;&nbsp; 8800000 |
| Sr Sub Lien Sales Tax Revenue CP Series I  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 6150000 | &nbsp;&nbsp; 6150000 |
| **Dallas ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100185 |
| ULT GO Refunding Bonds Series 2024 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| **Denton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **El Paso Tx Water and Sewer System** |  |  |  |  |  |
| Water & Sewer System Refunding RB Series 2022 (**LIQ**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| **Forney ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp; 410777 |
| ULT GO Series 2022B (**GTY**: TEXAS PERMANENT SCHOOL FUND PROG) <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2775000 | &nbsp;&nbsp; 2775000 |
| **Fort Bend ISD** |  |  |  |  |  |
| 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; 171810 |
| **Fort Worth ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140270 |
| **Frisco ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175348 |
| **Gregory Portland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110213 |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100186 |
| **Harris Cnty** |  |  |  |  |  |
| GO CP Series C (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.28% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 5815000 | &nbsp;&nbsp; 5815000 |
| Toll Road System 1st Lien CP Series K2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.14% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| **Harris Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Memorial Hermann Health System) Series 2024E <br> *(d)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2285000 | &nbsp;&nbsp; 2285000 |
| Hospital RB (Memorial Hermann Health) Series 2022A (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Hospital RB (Memorial Hermann Health) Series 2024F <br> *(d)* | &nbsp;&nbsp; 3.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Hospital RB (Texas Children's Hospital) Series 2021D (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8220000 | &nbsp;&nbsp; 8220000 |
| RB (Houston Methodist) Series 2020B <br> *(d)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3695000 | &nbsp;&nbsp; 3695000 |
| Refunding RB (Methodist Hospital) Series 2009C1  | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Refunding RB (Methodist Hospital) Series 2009C2  | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Harris Cnty Toll Road Auth** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2021 (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8760000 | &nbsp;&nbsp; 8760000 |
| 1st Lien Revenue CP Series K (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 6060000 | &nbsp;&nbsp; 6060000 |
| **Hays Consolidated ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 285557 |
| **Hearne ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250005 |
| **Holliday ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2023 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150274 |

---

*See financial notes*

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

**75**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Houston Combined Utility System** |  |  |  |  |  |
| 1st Lien Refunding RB Series 2004B2 (**ESCROW**) (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25875000 | &nbsp;&nbsp; 25875000 |
| Jr Lien Refunding RB Series 2001B (**LIQ**: BANK OF AMERICA NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **Irving ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp; 666326 |
| **Klein ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100132 |
| **La Porte ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2015 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 425817 |
| **Lamar Consolidated ISD** |  |  |  |  |  |
| ULT Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: WELLS FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp; 5250000 |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200367 |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| ULT GO Bonds Series 2023A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp; 3105000 |
| **Longview ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140270 |
| **Lower Colorado River Auth** |  |  |  |  |  |
| Refunding RB (LCRA Transmission Services) Series 2023 (**LOC**: ROYAL <br> BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6265000 | &nbsp;&nbsp; 6265000 |
| Transmission Contract Revenue CP (**LOC**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Lower Neches Valley Auth Industrial Development Corp** |  |  |  |  |  |
| RB (ExxonMobil) Series 2010 <br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| RB (ExxonMobil) Series 2012 <br> *(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5675000 | &nbsp;&nbsp; 5675000 |
| **Mansfield ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 290569 |
| **McKinney ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2016A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 230442 |
| **North Texas Municipal Water District** |  |  |  |  |  |
| Water System RB Extendable CP<br> *(b)* | &nbsp;&nbsp; 3.18% | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Panhandle Regional Housing Financial Corp** |  |  |  |  |  |
| M/F Housing RB (Jason Ave Apts) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12385000 | &nbsp;&nbsp; 12385000 |
| **Pearland ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110211 |
| **Pecos Barstow Toyah ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125245 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150289 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Pflugerville ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019A (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500940 |
| **Port of Port Arthur Navigation District** |  |  |  |  |  |
| Exempt Facilities RB (Total USA) Series 2011 <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31315000 | &nbsp;&nbsp; 31315000 |
| Exempt Facilities RB (Total USA) Series 2012A <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Exempt Facilities RB (Total USA) Series 2012B <br> *(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Princeton ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: MORGAN STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| ULT GO Bonds Series 2024 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: DEUTSCHE BANK AG) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7895000 | &nbsp;&nbsp; 7895000 |
| **Prosper ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2019 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 255490 |
| **Red Oak ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3380000 | &nbsp;&nbsp; 3380000 |
| **Richardson ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2017 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 405779 |
| **Rockwall ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2015A (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125244 |
| ULT GO Refunding Bonds Series 2017 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185350 |
| **Roma ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2021 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 239769 |
| **San Antonio** |  |  |  |  |  |
| Water System CP Series A1 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Water System Jr Lien Refunding RB Series 2023A & 2022B <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4635000 | &nbsp;&nbsp; 4635000 |
| Water System Sub Lien Refunding RB Series 2024A (**LIQ**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 4.08% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5700000 |
| **San Antonio Electric & Gas** |  |  |  |  |  |
| Electric & Gas System Refunding RB Series 2023A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Electric & Gas Systems Refunding RB Series 2012  | &nbsp;&nbsp; 5.25% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 1030000 | &nbsp;&nbsp; 1031527 |
| Electric & Gas Systems Refunding RB Series 2022  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300382 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3325000 | &nbsp;&nbsp; 3325000 |
| Electric & Gas Systems Refunding RB Series 2023A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1980000 | &nbsp;&nbsp; 1980000 |
| Electric & Gas Systems Refunding RB Series 2024E (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6670000 | &nbsp;&nbsp; 6670000 |
| **San Antonio Housing Finance Corp** |  |  |  |  |  |
| M/F Housing Mortgage RB (Artisan) Series 2008 (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION)<br>*(d)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| **San Benito Consolidated ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 235355 |

---

*See financial notes*

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

**77**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southwest ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 885000 | &nbsp;&nbsp; 885911 |
| **Spring Branch ISD** |  |  |  |  |  |
| Limited Tax Refunding Bonds Series 2014B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 570000 | &nbsp;&nbsp; 570732 |
| ULT GO Refunding Bonds Series 2015B (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG) <br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 140172 |
| **Tarrant Cnty Cultural Education Facilities Finance Corp** |  |  |  |  |  |
| Hospital RB (Baylor Scott & White Health) Series 2022D <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2260000 | &nbsp;&nbsp; 2260000 |
| Hospital RB (Baylor Scott & White Health) Series 2022D (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2745000 | &nbsp;&nbsp; 2745000 |
| Hospital RB (Baylor Scott & White) Series 2022D (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp; 1185000 |
| RB (Christus Health) Series 2018B (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3425000 | &nbsp;&nbsp; 3425000 |
| RB (Christus Health) Series 2022A, 2018B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Refunding RB (Christus Health) Series 2008C1 (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2425000 | &nbsp;&nbsp; 2425000 |
| **Texas** |  |  |  |  |  |
| GO Bonds Series 2010C (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp; 3160000 |
| GO Bonds Series 2013A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4440000 | &nbsp;&nbsp; 4440000 |
| GO Bonds Series 2015B (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| Veterans Bonds Series 2012B (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9510000 | &nbsp;&nbsp; 9510000 |
| Veterans Bonds Series 2014A (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6065000 | &nbsp;&nbsp; 6065000 |
| Veterans Bonds Series 2016 (**LIQ**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12730000 | &nbsp;&nbsp; 12730000 |
| Veterans Bonds Series 2021 (**LIQ**: FEDERAL HOME LOAN BANKS) <br> *(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| Veterans Bonds Series 2022 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9420000 | &nbsp;&nbsp; 9420000 |
| **Texas A&M Univ** |  |  |  |  |  |
| CP Series B | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| **Texas Municipal Gas Acquisition & Supply Corp IV** |  |  |  |  |  |
| Gas Supply RB Series 2023A (**LOC**: ROYAL BANK OF CANADA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4360000 | &nbsp;&nbsp; 4360000 |
| **Texas Public Finance Auth** |  |  |  |  |  |
| CP Series 2019A | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| **Texas Water Dev Brd** |  |  |  |  |  |
| State Water Implementation Fund RB Series 2021 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Water Implementation Fund RB Series 2022 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (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 Water Implementation Fund RB Series 2023A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4860000 | &nbsp;&nbsp; 4860000 |
| State Water Implementation Fund RB Series 2023A (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| State Water Implementation Fund RB Series 2024A (**LIQ**: UBS AG) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| **TX Health Resources** |  |  |  |  |  |
| Health System RB Series 2016A (**LIQ**: WELLS FARGO BANK NA)<br> *(a)(b)(c)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **Univ of Texas** |  |  |  |  |  |
| CP Notes Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series A  | &nbsp;&nbsp; 3.14% |  | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.22% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.23% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.28% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.18% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 3704000 | &nbsp;&nbsp; 3704000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 14200000 | &nbsp;&nbsp; 14200000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.17% |  | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Revenue Financing CP Series A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Van Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2014 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124999 |
| **Van Vleck ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2018 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 615000 | &nbsp;&nbsp; 616182 |
| **Victoria ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2016 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 395756 |
| **Waxahachie ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2023 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: TORONTO-DOMINION BANK/THE)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 135600 |
| **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; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4030000 | &nbsp;&nbsp; 4030000 |
| **Yoakum Tex ISD** |  |  |  |  |  |
| ULT GO Refunding Bonds Series 2022 (**GTY**: TEXAS PERMANENT <br> SCHOOL FUND PROG)<br>| &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/15/25 | &nbsp;&nbsp; 965000 | &nbsp;&nbsp; 966458 |

---

*See financial notes*

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

**79**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Ysleta ISD** |  |  |  |  |  |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: BANK OF AMERICA NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| ULT GO Bonds Series 2022 (**GTY**: TEXAS PERMANENT SCHOOL FUND <br> PROG) (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6335000 | &nbsp;&nbsp; 6335000 |
|  |  |  |  |  | &nbsp;&nbsp; **711368992** |
| **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** | **UTAH 0.1%** |
| **Utah Cnty** |  |  |  |  |  |
| Hospital RB (IHC Health Services) Series 2016E (**LIQ**: JPMORGAN CHASE <br> BANK NA)<br>*(d)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| **Utah Water Finance Agency** |  |  |  |  |  |
| RB Series 2008B-1 (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(d)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 820000 | &nbsp;&nbsp; 820000 |
|  |  |  |  |  | &nbsp;&nbsp; **5420000** |
| **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** | **VIRGINIA 1.3%** |
| **Albemarle Cnty Economic Development Auth** |  |  |  |  |  |
| Hospital Facilities Refunding RB (Sentara Health) Series 2018A (**LIQ**: TD <br> BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2970000 | &nbsp;&nbsp; 2970000 |
| Hospital Facilities Refunding RB (Sentara Martha Jefferson) <br> Series 2018B (**LIQ**: TD BANK NA) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4450000 | &nbsp;&nbsp; 4450000 |
| **Fairfax Cnty IDA** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2016C <br> *(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4695000 | &nbsp;&nbsp; 4695000 |
| Health Care RB (Inova Health) Series 2018C <br> *(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp; 1615000 |
| **Hampton Roads Transportation Accountability Commission** |  |  |  |  |  |
| Sr Lien RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Sr Lien RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **IDA of Fairfax Cnty** |  |  |  |  |  |
| Health Care RB (Inova Health) Series 2014A (**LIQ**: BANK OF AMERICA <br> NA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.94% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8900000 |
| **Lynchburg Economic Development Auth** |  |  |  |  |  |
| Hospital Refunding RB (Centra Health) Series 2017B (**LOC**: TRUIST <br> BANK)<br>*(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| **Norfolk Economic Development Auth** |  |  |  |  |  |
| Health Care Facilities Refunding RB (Sentara Healthcare) Series 2012B <br> (**LIQ**: ROYAL BANK OF CANADA) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **Virginia Small Business Financing Auth** |  |  |  |  |  |
| Hospital RB (Carilion Clinic) Series 2008A (**LOC**: TRUIST BANK) <br> *(d)* | &nbsp;&nbsp; 3.90% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
| Hospital RB (Carilion Clinic) Series 2008B (**LOC**: TD BANK NA) <br> *(d)* | &nbsp;&nbsp; 3.80% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6840000 | &nbsp;&nbsp; 6840000 |
| **Williamsburg Economic Development Auth** |  |  |  |  |  |
| Housing RB (Provident Group Williamsburg Properties) Series 2023A <br> (**LOC**: ROYAL BANK OF CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
|  |  |  |  |  | &nbsp;&nbsp; **50620000** |
| **WASHINGTON 1.1%** | **WASHINGTON 1.1%** | **WASHINGTON 1.1%** | **WASHINGTON 1.1%** | **WASHINGTON 1.1%** | **WASHINGTON 1.1%** |
| **Pierce Cnty Economic Development Corp** |  |  |  |  |  |
| IDRB (Frederico Enterprises I) Series 2010 (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1560000 | &nbsp;&nbsp; 1560000 |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Washington** |  |  |  |  |  |
| COP Series 2021A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp; 145000 |
| COP Series 2021C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 235000 |
| GO Bonds Series 2016C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200248 |
| GO Bonds Series 2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/01/25 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150186 |
| GO Bonds Series 2021B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302050 |
| GO Bonds Series 2022C (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| GO Bonds Series 2024A (**LIQ**: WELLS FARGO BANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| GO Refunding Bonds Series R2015E (**ESCROW**)  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| GO Refunding Bonds Series R2018D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100998 |
| GO Refunding Bonds Series R2020A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 750000 |
| GO Refunding Bonds Series R2020C  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 282379 |
| GO Refunding Bonds Series R2021C (**LIQ**: CITIBANK NA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| Motor Vehicle Fuel Tax GO Bonds Series 2016B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 292926 |
| **Washington Health Care Facilities Auth** |  |  |  |  |  |
| Health Care Facilities RB (Fred Hutchinson Cancer Ctr) Series 2020 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)(c)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &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; 4.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23300000 | &nbsp;&nbsp; 23300000 |
|  |  |  |  |  | &nbsp;&nbsp; **43293787** |
| **WISCONSIN 0.7%** | **WISCONSIN 0.7%** | **WISCONSIN 0.7%** | **WISCONSIN 0.7%** | **WISCONSIN 0.7%** | **WISCONSIN 0.7%** |
| **Appleton** |  |  |  |  |  |
| Recovery Zone Facility Bonds (Foremost Farms) Series 2010 (**LOC**: BMO <br> BANK NA)<br>*(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| **Wisconsin Health & Educational Facilities Auth** |  |  |  |  |  |
| RB (Bellin Memorial Hospital) Series 2022B (**LOC**: ROYAL BANK OF <br> CANADA)<br>*(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1450000 |
| **Wisconsin Housing & Economic Development Auth** |  |  |  |  |  |
| Home Ownership RB Series 2024C (**LIQ**: BARCLAYS BANK PLC) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Home Ownership RB Series 2024C (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)(b)(c)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| **Wisconsin Public Finance Auth** |  |  |  |  |  |
| Health System Refunding RB (Cone Health) Series 2023C (**LOC**: TD BANK <br> NA) <br>*(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Health System Refunding RB (Cone Health) Series 2023D (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.20% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp; 1055000 |
| Health System Refunding RB (Cone Health) Series 2023E (**LOC**: TRUIST <br> BANK) <br>*(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
|  |  |  |  |  | &nbsp;&nbsp; **28005000** |

---

*See financial notes*

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

**81**

------

Schwab AMT Tax-Free Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | &nbsp;&nbsp; EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **WYOMING 0.0%** | **WYOMING 0.0%** | **WYOMING 0.0%** | **WYOMING 0.0%** | **WYOMING 0.0%** | **WYOMING 0.0%** |
| **Lincoln Cnty** |  |  |  |  |  |
| Pollution Control Refunding RB (ExxonMobil) Series 2014<br> *(d)* | &nbsp;&nbsp; 3.82% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; **300000** |
| **Total Municipal Securities** <br>**(Cost $3,690,606,120)** | **Total Municipal Securities** <br>**(Cost $3,690,606,120)** | **Total Municipal Securities** <br>**(Cost $3,690,606,120)** | **Total Municipal Securities** <br>**(Cost $3,690,606,120)** | **Total Municipal Securities** <br>**(Cost $3,690,606,120)** | &nbsp;&nbsp; **3690606120** |
| **Total Investments in Securities** <br>**(Cost $3,690,606,120)** | **Total Investments in Securities** <br>**(Cost $3,690,606,120)** | **Total Investments in Securities** <br>**(Cost $3,690,606,120)** | **Total Investments in Securities** <br>**(Cost $3,690,606,120)** | **Total Investments in Securities** <br>**(Cost $3,690,606,120)** | &nbsp;&nbsp; **3690606120** |

---

&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 $1,387,080,000 or 34.7% 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;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| 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 |
| IDRB — | Industrial development revenue bond |
| ISD — | Independent school district |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| 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 December 31, 2024, 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 \| Annual Holdings and Financial Statements

------

Schwab AMT Tax-Free Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $3690606120 |
| Cash |  | 95229 |
| Receivables: |  |  |
| Fund shares sold |  | 330909496 |
| Interest |  | 21582132 |
| Prepaid expenses | + | 110860 |
| **Total assets** |  | **4043303837** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Investments bought |  | 24889305 |
| Fund shares redeemed |  | 16084392 |
| Distributions to shareholders |  | 2711267 |
| Investment adviser and administrator fees |  | 459944 |
| Shareholder service fees |  | 29784 |
| Independent trustees' fees |  | 182 |
| Accrued expenses | + | 202186 |
| **Total liabilities** |  | **44377060** |
| **Net assets** |  | **$3998926777** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $3998926777 |
| **Net assets** |  | **$3998926777** |

---

&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 | $1234412828 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1234175337 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $2764513949 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2764153377 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

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

**83**

------

Schwab AMT Tax-Free Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$109358274** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 6181099 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 1705211 |
| Registration fees |  | 430478 |
| Portfolio accounting fees |  | 145182 |
| Independent trustees' fees |  | 47787 |
| Custodian fees |  | 38277 |
| Professional fees |  | 34995 |
| Shareholder reports |  | 21288 |
| Transfer agent fees  |  | 1317 |
| Other expenses | + | 25859 |
| **Total expenses** |  | **8631493** |
| Expense reduction | – | 740055 |
| **Net expenses** | – | **7891438** |
| **Net investment income** |  | **101466836** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **115837** |
| **Increase in net assets resulting from operations** |  | **$101582673** |

---

*See financial notes*

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

------

Schwab AMT Tax-Free Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $101466836 | &nbsp;&nbsp;&nbsp; $71969258 |
| Net realized gains | + | 115837 | &nbsp;&nbsp;&nbsp; 74351 |
| **Increase in net assets from operations** |  | **$101582673** | &nbsp;&nbsp;&nbsp; **$72043609** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($34402968)<br>| &nbsp;&nbsp;&nbsp; ($28727531)<br>|
| Ultra Shares | + | (67156131)<br>| &nbsp;&nbsp;&nbsp; (43284907)<br>|
| **Total distributions** |  | **($101559099)**<br>| &nbsp;&nbsp;&nbsp; **($72012438)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 1398069426 | &nbsp;&nbsp;&nbsp; 1475733130 |
| Ultra Shares | + | 5382878727 | &nbsp;&nbsp;&nbsp; 4377378012 |
| **Total shares sold** |  | **6780948153** | &nbsp;&nbsp;&nbsp; **5853111142** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 25402526 | &nbsp;&nbsp;&nbsp; 20329843 |
| Ultra Shares | + | 45304477 | &nbsp;&nbsp;&nbsp; 30855164 |
| **Total shares reinvested** |  | **70707003** | &nbsp;&nbsp;&nbsp; **51185007** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (1264143852)<br>| &nbsp;&nbsp;&nbsp; (1296350073)<br>|
| Ultra Shares | + | (4729037699)<br>| &nbsp;&nbsp;&nbsp; (3309897947)<br>|
| **Total shares redeemed** |  | **(5993181551)**<br>| &nbsp;&nbsp;&nbsp; **(4606248020)**<br>|
| **Net transactions in fund shares** |  | **858473605** | &nbsp;&nbsp;&nbsp; **1298048129** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $3140429598 | &nbsp;&nbsp;&nbsp; $1842350298 |
| Total increase | + | 858497179 | &nbsp;&nbsp;&nbsp; 1298079300 |
| **End of period** |  | **$3998926777** | &nbsp;&nbsp;&nbsp; **$3140429598** |

---

&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 \| Annual Holdings and Financial Statements

**85**

------

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

Financial Notes

------

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

Each of the funds in this report is a series of The Charles Schwab Family of Funds (the trust), a no-load, open-end management investment company. The trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the 1940 Act). The list below shows all the 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 Value Advantage Money Fund<sup>®</sup> |
| **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).

In this reporting period, the funds adopted FASB Accounting Standards Update 2023-07, ASC Topic 280 Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of operations. An operating segment is defined in Topic 280 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, subscriptions and redemptions), 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.

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

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

Financial Notes (continued)

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

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

**(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.

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 December 31, 2024, each of the fund's investments were classified as Level 2.

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

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

Financial Notes (continued)

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

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

**(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. 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) 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 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.

**(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.

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

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

Financial Notes (continued)

------

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

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

**(i) Indemnification:**

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

------

**3. Credit and Liquidity Enhancements:**

A substantial portion of 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>| 68<br> %<br>| &nbsp;&nbsp; 66<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 each fund.

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.

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.

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

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

Financial Notes (continued)

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

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

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

---

| | |
|:---|:---|
|  | SHAREHOLDER SERVICING FEE |
| Investor Shares | 0.15<br> %<br>|
| Ultra Shares | n/a |

---

**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 December 31, 2024, 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 | $376167947 | &nbsp;&nbsp; $165703144 | &nbsp;&nbsp; $0 |
| Schwab AMT Tax-Free Money Fund | 102331135 | &nbsp;&nbsp; 107085402 | &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.

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**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.

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**6. Borrowing from Banks:**

During the period, the funds were participants with other funds in the Fund Complex in a joint, syndicated, committed $1 billion line of credit (the Syndicated Credit Facility), which matured on September 26, 2024. On September 26, 2024, the Syndicated Credit Facility was amended to run for a new 364 day period with the committed line of credit increasing to $1.2 billion, maturing on September 25, 2025. Under the terms of the Syndicated Credit Facility, in addition to 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.

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

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

Financial Notes (continued)

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

**6. Borrowing from Banks (continued):** 

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, which matured on September 26, 2024. On September 26, 2024, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, 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.

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**7. Federal Income Taxes:**

As of December 31, 2024, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab Municipal Money Fund | $17338488383 |
| Schwab AMT Tax-Free Money Fund | 3690606120 |

---

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 paid during the current and prior fiscal years were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME<br>| LONG-TERM <br>CAPITAL <br>GAINS<br>| TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME <br>| LONG-TERM <br>CAPITAL <br>GAINS <br>|
| Schwab Municipal Money Fund | $510676608 | &nbsp;&nbsp; $635579 | &nbsp;&nbsp; $74163 | &nbsp;&nbsp; $460040909 | &nbsp;&nbsp; $13912255 | &nbsp;&nbsp; $— |
| Schwab AMT Tax-Free Money Fund | 101458179 | &nbsp;&nbsp; 80025 | &nbsp;&nbsp; 20895 | &nbsp;&nbsp; 70593532 | &nbsp;&nbsp; 1375726 | &nbsp;&nbsp; 43180 |

---

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

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

As of December 31, 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.

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**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 \| Annual Holdings and Financial Statements

**91**

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

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Municipal Money Fund and Schwab AMT Tax-Free Money Fund:

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

We have audited the accompanying statements of assets and liabilities, including the portfolio holdings, of Schwab Municipal Money Fund and Schwab AMT Tax-Free Money Fund, (the "Funds") two of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2024, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of December 31, 2024, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 14, 2025

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

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

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g38074img76bc8e921.jpg)

MFR26568-22

00308807

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g21476img7bb5a2e41.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2024

Schwab Municipal Money Funds

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Schwab California Municipal

Money Fund

Schwab New York Municipal

Money Fund

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**In This Report**

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

---

| | |
|:---|:---|
| [Financial Statements and Portfolio Holdings](#xx_942020ea-2259-4350-a722-262cb76595d2_1) <br>|  |
| [Schwab California Municipal Money Fund](#xx_942020ea-2259-4350-a722-262cb76595d2_1) | 2 |
| [Schwab New York Municipal Money Fund](#xx_7c554434-4d60-4219-ba5a-a9dce3bac8b5_1) | 21 |
| [Financial Notes](#xx_1607f24e-da03-43ef-b0ad-d534659e628d_1) | 39 |
| [Report of Independent Registered Public Accounting Firm](#xx_98e1c25d-5283-4ea4-8c7c-8286412df258_1) | 46  |

---

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

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

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**1**

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Schwab California Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.01 | 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>|
| Total from investment operations | 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; (0.03)<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; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>| &nbsp;&nbsp; (0.00 )<sup>2</sup><br>|
| Total distributions | &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.03)<br>| &nbsp;&nbsp; (0.01)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.30 %<sup>3,4</sup><br>| 0.10 %<sup>4</sup><br>| 0.28 %<sup>4,5</sup><br>|
| Total expenses | 0.35<br> %<br>| 0.35<br> %<br>| 0.35 %<sup>3</sup><br>| 0.35<br> %<br>| 0.46<br> %<br>|
| Net investment income (loss) | 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; $2605 | &nbsp;&nbsp; $2483 | &nbsp;&nbsp; $2604 | &nbsp;&nbsp; $2224 | &nbsp;&nbsp; $3405 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

------

Schwab California Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>| 0.00 <br><sup>3</sup><br>| 0.00 <br><sup>3</sup><br>|
| Total from investment operations | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>5,6</sup><br>| 0.09 %<sup>6</sup><br>| 0.16 %<sup>6,7</sup><br>|
| Total expenses | 0.20<br> %<br>| 0.20<br> %<br>| 0.20 %<sup>5</sup><br>| 0.20<br> %<br>| 0.20 %<sup>7</sup><br>|
| Net investment income (loss) | 2.89<br> %<br>| 2.68<br> %<br>| 1.45<br> %<br>| 0.01<br> %<br>| 0.01 %<sup>7</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $6426 | &nbsp;&nbsp; $5562 | &nbsp;&nbsp; $5456 | &nbsp;&nbsp; $778 | &nbsp;&nbsp; $375 |

---

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

<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> 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> Annualized.

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**3**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 98.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 98.9% OF NET ASSETS |
| **CALIFORNIA 98.9%** | **CALIFORNIA 98.9%** | **CALIFORNIA 98.9%** | **CALIFORNIA 98.9%** | **CALIFORNIA 98.9%** | **CALIFORNIA 98.9%** |
| **ABAG Finance Auth** |  |  |  |  |  |
| M/F Housing RB (Crossing Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 54750000 | &nbsp;&nbsp; 54750000 |
| M/F Housing RB (La Terrazza Apts) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.49% |  | &nbsp;&nbsp; 01/07/25 | &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; 2.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8550000 | &nbsp;&nbsp; 8550000 |
| **Alameda Cnty IDA** |  |  |  |  |  |
| RB (Golden West Paper Converting Corp) Series 2008A (**LOC**: BANK <br> OF MONTREAL) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4390000 | &nbsp;&nbsp; 4390000 |
| RB (Segale Brothers Wood Products) Series 2002 (**LOC**: BANK OF <br> MONTREAL) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| **Bay Area Toll Auth** |  |  |  |  |  |
| Toll Bridge RB Series 2007A2 (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 72835000 | &nbsp;&nbsp; 72835000 |
| Toll Bridge RB Series 2007B2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.26% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 62125000 | &nbsp;&nbsp; 62125000 |
| Toll Bridge RB Series 2007D2 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.79% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Toll Bridge RB Series 2008E1 (**LOC**: MUFG BANK LTD) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37850000 | &nbsp;&nbsp; 37850000 |
| Toll Bridge RB Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Toll Bridge RB Series 2024A (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 1.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 79500000 | &nbsp;&nbsp; 79500000 |
| Toll Bridge RB Series 2024B (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| Toll Bridge RB Series 2024C (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 49000000 | &nbsp;&nbsp; 49000000 |
| Toll Bridge RB Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 86100000 | &nbsp;&nbsp; 86100000 |
| Toll Bridge RB Series 2024E (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13735000 | &nbsp;&nbsp; 13735000 |
| Toll Bridge RB Series 2024H (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 17600000 | &nbsp;&nbsp; 17600000 |
| **Blackrock California Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BARCLAYS <br> BANK PLC) <br>*(a)(b)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 231500000 | &nbsp;&nbsp; 231500000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California** |  |  |  |  |  |
| GO Bonds (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11870000 | &nbsp;&nbsp; 11870000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20100000 | &nbsp;&nbsp; 20100000 |
| GO Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp; 6200000 |
| GO Bonds (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2625000 |
| GO Bonds (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| GO Bonds (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp; 2375000 |
| GO Bonds Series 2003C1 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45795000 | &nbsp;&nbsp; 45795000 |
| GO Bonds Series 2004A9 (**LOC**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15295000 | &nbsp;&nbsp; 15295000 |
| GO Bonds Series 2005A21 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 82785000 | &nbsp;&nbsp; 82785000 |
| GO Bonds Series 2005B1 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 93310000 | &nbsp;&nbsp; 93310000 |
| GO Bonds Series 2024B1 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 39000000 | &nbsp;&nbsp; 39000000 |
| GO Bonds Series 2024B2 (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.35% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp; 33000000 |
| GO Bonds Series 2024C1 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.74% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10300000 |
| GO Bonds Series 2024D (**LOC**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32750000 | &nbsp;&nbsp; 32750000 |
| GO CP Series A1 (**LOC**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 4720000 | &nbsp;&nbsp; 4720000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 32010000 | &nbsp;&nbsp; 32010000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 27160000 | &nbsp;&nbsp; 27160000 |
| GO CP Series A2 (**LOC**: ROYAL BANK OF CANADA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 15730000 | &nbsp;&nbsp; 15730000 |
| GO CP Series A4 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 23985000 | &nbsp;&nbsp; 23985000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 6248000 | &nbsp;&nbsp; 6248000 |
| GO CP Series A5 (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 9820000 | &nbsp;&nbsp; 9820000 |
| GO CP Series A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| GO CP Series A6 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 16450000 | &nbsp;&nbsp; 16450000 |
| GO CP Series A7 (**LOC**: STATE STREET BANK AND TRUST COMPANY)  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 29660000 | &nbsp;&nbsp; 29660000 |
| GO Refunding Bonds  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/02/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20280221 |
| GO Refunding Bonds (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| GO Refunding Bonds (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1705000 | &nbsp;&nbsp; 1705000 |
| Lease RB Series 2021B (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9920000 | &nbsp;&nbsp; 9920000 |
| Clean Energy RB Series 2023D (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Clean Energy RB Series 2023E1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp; 2585000 |
| Clean Energy RB Series 2023F (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3725000 | &nbsp;&nbsp; 3725000 |
| Clean Energy RB Series 2024A1 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22375000 | &nbsp;&nbsp; 22375000 |
| Clean Energy RB Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| **California Dept of Water Resources** |  |  |  |  |  |
| Water Revenue CP Series 1 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 19823000 | &nbsp;&nbsp; 19823000 |
| Water Revenue CP Series 1 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 10357000 | &nbsp;&nbsp; 10357000 |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 32968000 | &nbsp;&nbsp; 32968000 |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 37127000 | &nbsp;&nbsp; 37127000 |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 79875000 | &nbsp;&nbsp; 79875000 |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.06% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 40700000 | &nbsp;&nbsp; 40700000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**5**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 51737000 | &nbsp;&nbsp; 51737000 |
| Water Revenue CP Series 4 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 67478000 | &nbsp;&nbsp; 67478000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 19855000 | &nbsp;&nbsp; 19855000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 7056000 | &nbsp;&nbsp; 7056000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 14403000 | &nbsp;&nbsp; 14403000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/17/25 | &nbsp;&nbsp; 14377000 | &nbsp;&nbsp; 14377000 |
| Water Revenue CP Series 5 (**LIQ**: JPMORGAN CHASE BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/03/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| **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; 3.48% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 32800000 | &nbsp;&nbsp; 32800000 |
| CP Notes (Stanford Univ) Series S4  | &nbsp;&nbsp; 2.70% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| RB (California Institute of Technology) Series 2006A <br> *(a)* | &nbsp;&nbsp; 2.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34115000 | &nbsp;&nbsp; 34115000 |
| RB (California Institute of Technology) Series 2006B <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37705000 | &nbsp;&nbsp; 37705000 |
| RB (Stanford Univ) Series U6 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 53915000 | &nbsp;&nbsp; 53915000 |
| RB (Stanford Univ) Series V1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7175000 | &nbsp;&nbsp; 7175000 |
| **California Enterprise Development Finance Auth** |  |  |  |  |  |
| IDRB (Gordon Brush) Series 2015 (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| IDRB (J Harris Industrial Water Treatment) Series 2015 (**LOC**: CITY <br> NATIONAL BANK) <br>*(a)(b)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4910000 | &nbsp;&nbsp; 4910000 |
| RB (EDCO Disposal Corp) Series 2024 (**LOC**: WELLS FARGO BANK NA) <br> *(a)(b)* | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 28585000 | &nbsp;&nbsp; 28585000 |
| **California Health Facilities Financing Auth** |  |  |  |  |  |
| CP (Stanford Health Care)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26300000 | &nbsp;&nbsp; 26299857 |
| CP (Stanford Health Care) Series 2008B2-1  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 04/10/25 | &nbsp;&nbsp; 42050000 | &nbsp;&nbsp; 42050000 |
| Health Facility RB (Catholic Healthcare West) Series 2011B <br> (**LOC**: BANK OF MONTREAL) <br>*(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 72750000 | &nbsp;&nbsp; 72750000 |
| RB (Adventist Health) Series 2023B (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| RB (Cedars-Sinai Health System) Series 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| RB (Cedars-Sinai Health) Series 2021A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7860000 | &nbsp;&nbsp; 7860000 |
| RB (Dignity Health) Series 2012A (**GTY**: MIZUHO BANK LTD) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.82% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34014000 | &nbsp;&nbsp; 34014000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2775000 | &nbsp;&nbsp; 2775000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 15525000 | &nbsp;&nbsp; 15525000 |
| RB (Kaiser Permanente) Series 2006E  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 43320000 | &nbsp;&nbsp; 43320000 |
| RB (Scripps Health) Series 2024C1 <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 39200000 | &nbsp;&nbsp; 39200000 |
| RB (Scripps Health) Series 2024C2 <br> *(a)* | &nbsp;&nbsp; 1.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 90800000 | &nbsp;&nbsp; 90800000 |
| Refunding RB (Stanford Hospital) Series 2008B1 <br> *(a)* | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| Refunding RB (Sutter Health) Series 2017A <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Refunding RB CP Notes (Stanford Hospital) Series 2008B2-2  | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 02/03/25 | &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; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| IDRB (Kruger & Sons) Series 2002 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 720000 |
| RB (St Margaret's Episcopal School) Series 2008 (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7745000 | &nbsp;&nbsp; 7745000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **California Municipal Finance Auth** |  |  |  |  |  |
| Recovery Zone Facility RB (Chevron) Series 2010A <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 145220000 | &nbsp;&nbsp; 145220000 |
| Recovery Zone Facility RB (Chevron) Series 2010B <br> *(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 26445000 | &nbsp;&nbsp; 26445000 |
| Recovery Zone Facility RB (Chevron) Series 2010C <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 36215000 | &nbsp;&nbsp; 36215000 |
| Refunding RB (ExxonMobil) Series 2007 <br> *(a)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 17485000 | &nbsp;&nbsp; 17485000 |
| Solid Waste Disposal RB (Recology Inc) Series 2024A (**LOC**: PNC <br> BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36000000 |
| **California Pollution Control Financing Auth** |  |  |  |  |  |
| RB (Hilmar Cheese) Series 2010 (**LOC**: BANK OF MONTREAL) <br> *(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9695000 | &nbsp;&nbsp; 9695000 |
| Solid Waste Disposal RB (Ag Resources III) Series 2004 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5480000 | &nbsp;&nbsp; 5480000 |
| Solid Waste Disposal RB (Bidart Dairy) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| Solid Waste Disposal RB (Desert Properties) Series 2006B (**LOC**: US <br> BANK NATIONAL ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| Solid Waste Disposal RB (EDCO Disposal) Series 2007A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Solid Waste Disposal RB (George Borba & Son Dairy) Series 2003 <br> (**LOC**: COBANK ACB) <br>*(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Solid Waste Disposal RB (JDS Ranch) Series 2003 (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Solid Waste Disposal RB (Recology) Series 2018A (**LOC**: WELLS <br> FARGO BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &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; 2.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| Solid Waste Disposal RB (T&W Farms) Series 2002 (**LOC**: COBANK <br> ACB) <br>*(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 62070000 | &nbsp;&nbsp; 62070000 |
| RB (Hoag Memorial Hospital Presbyterian) Series 2022B1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| RB (Sharp Healthcare) Series 2024B (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| RB (Sharp Healthcare) Series 2024C (**LOC**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 33800000 | &nbsp;&nbsp; 33800000 |
| RB (Sharp Healthcare) Series 2024D (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37100000 | &nbsp;&nbsp; 37100000 |
| RB (Sharp Healthcare) Series 2024E (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 71650000 | &nbsp;&nbsp; 71650000 |
| **California Public Works Board** |  |  |  |  |  |
| Lease RB Series 2023D (**LIQ**: JPMORGAN CHASE BANK NA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2300000 |
| **California State Univ** |  |  |  |  |  |
| CP Series A (**GTY**: STATE STREET BANK AND TRUST COMPANY) <br> (**LOC**: WELLS FARGO BANK NA) <br>| &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 7058000 | &nbsp;&nbsp; 7058000 |
| RB Series 2023A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8075000 | &nbsp;&nbsp; 8075000 |
| RB Series 2024A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.58% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**7**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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** |  |  |  |  |  |
| M/F Housing RB (Avian Glen Apts) Series 2004CC (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3190000 | &nbsp;&nbsp; 3190000 |
| M/F Housing RB (Concord Green Apts) Series 1998S (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| M/F Housing RB (David Ave Apt) Series 2007WW (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp; 5300000 |
| M/F Housing RB (Dublin Ranch Sr Apts) Series 2003OO <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; 710000 |
| M/F Housing RB (Fairway Family Apts) Series 2003PP (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| M/F Housing RB (Grande Garden Apts) Series 2004TT (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1625000 | &nbsp;&nbsp; 1625000 |
| M/F Housing RB (Imperial Park Apts) Series 2007OO (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.59% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4950000 | &nbsp;&nbsp; 4950000 |
| M/F Housing RB (Oak Center Towers) Series 2005L (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2520000 | &nbsp;&nbsp; 2520000 |
| M/F Housing RB (South Shore Apts) Series 2009M (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| M/F Housing RB (Stoneridge at Elk Grove) Series 2005Q <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.99% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4740000 | &nbsp;&nbsp; 4740000 |
| M/F Housing RB (Varenna Assisted Living Apts) Series 2006F <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &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; 2.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20290000 | &nbsp;&nbsp; 20290000 |
| M/F Housing Refunding RB (Crossings at Madera) Series 2005B <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.99% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| M/F Housing Refunding RB (Kelvin Court) Series 2012B <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 26245000 | &nbsp;&nbsp; 26245000 |
| M/F Housing Refunding RB (Lexington Apts) Series 2024A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8690000 | &nbsp;&nbsp; 8690000 |
| M/F Housing Refunding RB (Regency Park Apts) Series 2024B <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13770000 | &nbsp;&nbsp; 13770000 |
| M/F Housing Refunding RB (The Alexandria) Series 2013A <br> (**LOC**: FEDERAL HOME LOAN BANKS) <br>*(a)* | &nbsp;&nbsp; 3.72% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13730000 | &nbsp;&nbsp; 13730000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 45015000 | &nbsp;&nbsp; 45015000 |
| RB (Kaiser Permanente) Series 2004E  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 38325000 | &nbsp;&nbsp; 38325000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2004E  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 25540000 | &nbsp;&nbsp; 25540000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13800000 | &nbsp;&nbsp; 13800000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 19625000 | &nbsp;&nbsp; 19625000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 29590000 | &nbsp;&nbsp; 29590000 |
| RB (Kaiser Permanente) Series 2004I  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 24800000 | &nbsp;&nbsp; 24800000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 50080000 | &nbsp;&nbsp; 50080000 |
| RB (Kaiser Permanente) Series 2004K  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 41320000 | &nbsp;&nbsp; 41320000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 29500000 | &nbsp;&nbsp; 29500000 |
| RB (Kaiser Permanente) Series 2006D  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Kaiser Permanente) Series 2008B  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| RB (Kaiser Permanente) Series 2008C  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 38425000 | &nbsp;&nbsp; 38425000 |
| RB (Kaiser Permanente) Series 2009B2  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B3  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| RB (Kaiser Permanente) Series 2009B4  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B5  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/14/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 03/11/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| RB (Kaiser Permanente) Series 2009B6  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 03/13/25 | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp; 11700000 |
| RB (Rady Children's Hospital) Series 2008B (**LOC**: WELLS FARGO <br> BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110000 |
| **Chino Valley USD** |  |  |  |  |  |
| GO Bonds Series 2020B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp; 3075000 |
| **Chula Vista** |  |  |  |  |  |
| M/F Housing Refunding RB (Teresina Apts) Series 2006A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 37940000 | &nbsp;&nbsp; 37940000 |
| **Contra Costa Water District** |  |  |  |  |  |
| Extendible CP<br> *(c)* | &nbsp;&nbsp; 3.12% | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| **East Bay Municipal Utility District** |  |  |  |  |  |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 3730000 | &nbsp;&nbsp; 3730000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| Water CP Notes Series A1 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 03/18/25 | &nbsp;&nbsp; 19860000 | &nbsp;&nbsp; 19860000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2600000 |
| Water CP Notes Series A2 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 03/12/25 | &nbsp;&nbsp; 45000000 | &nbsp;&nbsp; 45000000 |
| Water System RB Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| **Golden Gate Bridge & Highway District** |  |  |  |  |  |
| CP Series A (**LIQ**: JPMORGAN CHASE BANK NA) | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 30500000 | &nbsp;&nbsp; 30500000 |
| **Imperial Irrigation District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**9**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Irvine** |  |  |  |  |  |
| Limited Obligation Bonds (Assessment District 93-14) <br> (**LOC**: SUMITOMO MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19102000 | &nbsp;&nbsp; 19102000 |
| Limited Obligation Bonds (Assessment District No 00-18) Series A <br> (**LOC**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6833000 | &nbsp;&nbsp; 6833000 |
| **Irvine Ranch Water District** |  |  |  |  |  |
| Consolidated Refunding Bonds Series 2008A (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| Consolidated Series 1993 (**LOC**: US BANK NATIONAL ASSOCIATION) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7800000 | &nbsp;&nbsp; 7800000 |
| **Irvine Reassessment District No 4-20** |  |  |  |  |  |
| Limited Obligation Bonds Series A (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION)<br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13335000 | &nbsp;&nbsp; 13335000 |
| **Los Angeles** |  |  |  |  |  |
| TRAN 2024  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 125000000 | &nbsp;&nbsp; 125999721 |
| Wastewater System CP Notes Series A1 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 61100000 | &nbsp;&nbsp; 61100000 |
| Wastewater System CP Series A2 (**LOC**: TD BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 75000000 | &nbsp;&nbsp; 75000000 |
| Wastewater System CP Series A2 (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>| &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/15/25 | &nbsp;&nbsp; 18624000 | &nbsp;&nbsp; 18624000 |
| **Los Angeles Cnty** |  |  |  |  |  |
| TRAN Series 2024-2025  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 29525000 | &nbsp;&nbsp; 29779839 |
| **Los Angeles Cnty Capital Asset Leasing Corp** |  |  |  |  |  |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 30436000 | &nbsp;&nbsp; 30436000 |
| Lease Revenue CP Series A (**LOC**: BANK OF MONTREAL)  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14000000 |
| Lease Revenue CP Series B (**LOC**: US BANK NATIONAL ASSOCIATION)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Lease Revenue CP Series C (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 58223000 | &nbsp;&nbsp; 58223000 |
| Lease Revenue CP Series C (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 25218000 | &nbsp;&nbsp; 25218000 |
| Lease Revenue CP Series D (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 20505000 | &nbsp;&nbsp; 20505000 |
| **Los Angeles Cnty Facilities Inc** |  |  |  |  |  |
| Lease RB (Vermont Corridor Cnty Administration Building) <br> Series 2018A (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3970000 | &nbsp;&nbsp; 3970000 |
| Lease RB Series 2024H (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13330000 | &nbsp;&nbsp; 13330000 |
| **Los Angeles Dept of Airports** |  |  |  |  |  |
| Sr RB Series 2020C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Sr RB Series 2020C & 2022H (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9440000 | &nbsp;&nbsp; 9440000 |
| Sr RB Series 2022G (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4975000 | &nbsp;&nbsp; 4975000 |
| Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2250000 |
| Sr RB Series 2022G (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1495000 | &nbsp;&nbsp; 1495000 |
| Sr RB Series 2022G (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| Sr RB Series 2022H (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6005000 | &nbsp;&nbsp; 6005000 |
| Sr RB Series 2022H (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1495000 | &nbsp;&nbsp; 1495000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Sr Refunding RB Series 2018B  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6039137 |
| Sub RB Series 2016B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| Sub RB Series 2016B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub RB Series 2017A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2860000 | &nbsp;&nbsp; 2860000 |
| Sub RB Series 2017A & 2018D (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5790000 | &nbsp;&nbsp; 5790000 |
| Sub RB Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp; 1690000 |
| Sub RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1670000 | &nbsp;&nbsp; 1670000 |
| Sub RB Series 2018D (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5510000 | &nbsp;&nbsp; 5510000 |
| Sub RB Series 2018D (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Sub RB Series 2019E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Sub RB Series 2021D & Sr RB Series 2022G (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Sub RB Series 2022A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp; 1070000 |
| Sub Refunding RB Series 2016B & 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8780000 | &nbsp;&nbsp; 8780000 |
| Sub Refunding RB Series 2021A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Sub Revenue CP Series A1 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 04/02/25 | &nbsp;&nbsp; 13085000 | &nbsp;&nbsp; 13085000 |
| Sub Revenue CP Series A2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 27529000 | &nbsp;&nbsp; 27529000 |
| Sub Revenue CP Series A3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 51547000 | &nbsp;&nbsp; 51547000 |
| Sub Revenue CP Series A3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 1443000 | &nbsp;&nbsp; 1443000 |
| Sub Revenue CP Series A3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| Sub Revenue CP Series B1 (**LOC**: PNC BANK NA)  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 74217000 | &nbsp;&nbsp; 74217000 |
| Sub Revenue CP Series B2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 49772000 | &nbsp;&nbsp; 49772000 |
| Sub Revenue CP Series B2 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/25/25 | &nbsp;&nbsp; 27376000 | &nbsp;&nbsp; 27376000 |
| Sub Revenue CP Series B3 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| **Los Angeles Dept of Water & Power** |  |  |  |  |  |
| Power System RB Series 2001B3 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| Power System RB Series 2001B6 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Power System RB Series 2002A (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16400000 | &nbsp;&nbsp; 16400000 |
| Power System RB Series 2002A6 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 635000 | &nbsp;&nbsp; 635000 |
| Power System RB Series 2002A7 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10275000 | &nbsp;&nbsp; 10275000 |
| Power System RB Series 2017A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| Power System RB Series 2017C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| Power System RB Series 2021A1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14210000 | &nbsp;&nbsp; 14210000 |
| Power System RB Series 2021A2 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp; 50000000 |
| Power System RB Series 2021A3 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.56% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12600000 | &nbsp;&nbsp; 12600000 |
| Power System RB Series 2021C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 20165000 | &nbsp;&nbsp; 20165000 |
| Power System RB Series 2022C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1830000 | &nbsp;&nbsp; 1830000 |
| Power System RB Series 2023C1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 81730000 | &nbsp;&nbsp; 81730000 |
| Power System RB Series 2023C2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 77025000 | &nbsp;&nbsp; 77025000 |
| Power System RB Series 2023F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 37010000 | &nbsp;&nbsp; 37010000 |
| Water System RB Series 2001B1 (**LIQ**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**11**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water System RB Series 2001B3 (**LIQ**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Water System RB Series 2001B4 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 700000 |
| Water System RB Series 2018A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5965000 | &nbsp;&nbsp; 5965000 |
| Water System RB Series 2021A1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 93510000 | &nbsp;&nbsp; 93510000 |
| Water System RB Series 2021A2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 31705000 | &nbsp;&nbsp; 31705000 |
| Water System RB Series 2022B (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| **Los Angeles Harbor Dept** |  |  |  |  |  |
| Refunding RB Series 2016C (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| **Los Angeles IDA** |  |  |  |  |  |
| RB (AAA Packing & Shipping) Series 2000 (**LOC**: CITY NATIONAL <br> BANK) <br>*(a)* | &nbsp;&nbsp; 3.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp; 1725000 |
| **Los Angeles Municipal Improvement Corp** |  |  |  |  |  |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| Lease Revenue CP Series A1 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 15797000 | &nbsp;&nbsp; 15797000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 14300000 | &nbsp;&nbsp; 14300000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 6428000 | &nbsp;&nbsp; 6428000 |
| Lease Revenue CP Series A2 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 6667000 | &nbsp;&nbsp; 6667000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16200000 | &nbsp;&nbsp; 16200000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 36800000 | &nbsp;&nbsp; 36800000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| Lease Revenue CP Series A3 (**LOC**: US BANK NATIONAL <br> ASSOCIATION) <br>| &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 18860000 | &nbsp;&nbsp; 18860000 |
| **Los Angeles USD** |  |  |  |  |  |
| GO Bonds Series 2020RYQ (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19570000 | &nbsp;&nbsp; 19570000 |
| GO Bonds Series 2022QRR (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4925000 | &nbsp;&nbsp; 4925000 |
| GO Bonds Series 2023QRR (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9625000 | &nbsp;&nbsp; 9625000 |
| GO Bonds Series 2024QRR  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 29000000 | &nbsp;&nbsp; 29322031 |
| GO Refunding Bonds Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 504837 |
| **Mt. San Antonio CCD** |  |  |  |  |  |
| GO Bonds Series 2024D (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **Nuveen California AMT-Free Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 3 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60000000 | &nbsp;&nbsp; 60000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 70000000 | &nbsp;&nbsp; 70000000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nuveen California Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 61600000 | &nbsp;&nbsp; 61600000 |
| Variable Rate Demand Preferred Shares Series 4 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp; 11000000 |
| Variable Rate Demand Preferred Shares Series 6 (**LOC**: JPMORGAN <br> CHASE BANK NA) <br>*(a)(b)* | &nbsp;&nbsp; 3.71% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 78300000 | &nbsp;&nbsp; 78300000 |
| Variable Rate Demand Preferred Shares Series 7 (**LOC**: ROYAL BANK <br> OF CANADA) <br>*(a)(b)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 57000000 | &nbsp;&nbsp; 57000000 |
| **Orange Cnty Water District** |  |  |  |  |  |
| CP Series A (**LOC**: SUMITOMO MITSUI BANKING CORPORATION)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| Revenue COP Series 2003A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 50510000 | &nbsp;&nbsp; 50510000 |
| **Pasadena** |  |  |  |  |  |
| Refunding COP Series 2008A (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 2.97% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 76190000 | &nbsp;&nbsp; 76190000 |
| **Regents of the University of California** |  |  |  |  |  |
| Medical Center Pooled RB Series 2022P (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15140000 | &nbsp;&nbsp; 15140000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| **Riverside** |  |  |  |  |  |
| Water Refunding RB Series 2011A (**LOC**: PNC BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/02/25 | &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; 34500000 | &nbsp;&nbsp; 34552811 |
| TRAN Series 2024  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 102500000 | &nbsp;&nbsp; 103351848 |
| **Sacramento Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Valencia Point Apts) Series 2006I (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10050000 | &nbsp;&nbsp; 10050000 |
| **Sacramento Municipal Utility District** |  |  |  |  |  |
| Electric RB Series 2020H (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Electric RB Series 2020H (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Sub Electric Refunding RB Series 2023C (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 81665000 | &nbsp;&nbsp; 81665000 |
| **Sacramento Water Revenue** |  |  |  |  |  |
| Water RB Series 2017 (**LIQ**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| **San Diego Cnty Regional Airport Auth** |  |  |  |  |  |
| Sub Airport RB Series 2019B & 2021B (**LOC**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7235000 | &nbsp;&nbsp; 7235000 |
| **San Diego Cnty Regional Transportation Commission** |  |  |  |  |  |
| Sub Sales Tax Revenue CP Series B (**LOC**: BANK OF AMERICA NA) | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp; 16768000 | &nbsp;&nbsp; 16768000 |
| **San Diego Cnty Water Auth** |  |  |  |  |  |
| CP Notes Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20000000 |
| CP Series 11 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 28700000 | &nbsp;&nbsp; 28700000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.84% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 14115000 | &nbsp;&nbsp; 14115000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.92% |  | &nbsp;&nbsp; 06/03/25 | &nbsp;&nbsp; 10885000 | &nbsp;&nbsp; 10885000 |
| CP Series 9 (**LIQ**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 2.93% |  | &nbsp;&nbsp; 06/05/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**13**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Diego Housing Auth** |  |  |  |  |  |
| M/F Housing RB (Courthouse Commons) Series 2020F (**LOC**: MIZUHO <br> BANK LTD) <br>*(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 64265000 | &nbsp;&nbsp; 64265000 |
| **San Diego Public Facilities Financing Auth** |  |  |  |  |  |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 30782000 | &nbsp;&nbsp; 30782000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 75361000 | &nbsp;&nbsp; 75361000 |
| Sub Water Revenue CP Series A (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.12% |  | &nbsp;&nbsp; 01/22/25 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12500000 |
| **San Diego USD** |  |  |  |  |  |
| GO Bonds Series 2017 & 2019 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| GO Bonds Series 2022F2 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2920000 | &nbsp;&nbsp; 2920000 |
| GO Bonds Series 2022F2 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Bonds Series 2023A3 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2725000 | &nbsp;&nbsp; 2725000 |
| TRAN 2024-2025A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 16715000 | &nbsp;&nbsp; 16895246 |
| **San Francisco** |  |  |  |  |  |
| COP (49 S. Van Ness) Series 2019A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp; 3135000 |
| Lease Revenue CP Series 2 (**LIQ**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 7160000 | &nbsp;&nbsp; 7160000 |
| Lease Revenue CP Series 2 (**LIQ**: WELLS FARGO BANK NA)  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 31430000 | &nbsp;&nbsp; 31430000 |
| **San Francisco Airport Commission** |  |  |  |  |  |
| RB 2nd Series 2016C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp; 1975000 |
| RB 2nd Series 2017A (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp; 1675000 |
| RB 2nd Series 2017B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| RB 2nd Series 2018C (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.59% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| RB 2nd Series 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20440000 | &nbsp;&nbsp; 20440000 |
| RB 2nd Series 2019A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18755000 | &nbsp;&nbsp; 18755000 |
| RB 2nd Series 2019A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.12% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
| RB 2nd Series 2019A & 2019E & 2022A (**LOC**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp; 4580000 |
| RB 2nd Series 2019A&E (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11350000 | &nbsp;&nbsp; 11350000 |
| RB 2nd Series 2019A, 2019E, 2018D, 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 67405000 | &nbsp;&nbsp; 67405000 |
| RB 2nd Series 2019E, 2019A, 2018D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 43395000 | &nbsp;&nbsp; 43395000 |
| RB 2nd Series 2022A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 21275000 | &nbsp;&nbsp; 21275000 |
| Refunding RB 2nd Series 2017D  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp; 1109343 |
| Refunding RB 2nd Series 2019H  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 1325000 | &nbsp;&nbsp; 1330208 |
| Refunding RB 2nd Series 2023A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100522 |
| Refunding RB 2nd Series 2023C (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Sub CP Notes A-2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 41500000 | &nbsp;&nbsp; 41500000 |
| Sub CP Notes A5 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 38000000 | &nbsp;&nbsp; 38000000 |
| Sub CP Notes B5 (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.06% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| Sub CP Series A3 (**LOC**: BMO BANK NA)  | &nbsp;&nbsp; 3.06% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 85000000 | &nbsp;&nbsp; 85000000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **San Francisco Bay Area Rapid Transit District** |  |  |  |  |  |
| GO Bonds Series 2022D1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12000000 | &nbsp;&nbsp; 12000000 |
| GO Bonds Series 2022D1 (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 3750000 |
| GO Bonds Series 2022D1 & 2019B1 (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3045000 | &nbsp;&nbsp; 3045000 |
| **San Francisco Housing Auth** |  |  |  |  |  |
| M/F Housing Refunding RB (Valencia Gardens) Series 2004 <br> (**LOC**: CITIBANK NA) <br>*(a)* | &nbsp;&nbsp; 2.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp; 2160000 |
| **San Francisco Public Utilities Commission** |  |  |  |  |  |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34435000 | &nbsp;&nbsp; 34435000 |
| Power CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 03/04/25 | &nbsp;&nbsp; 40444000 | &nbsp;&nbsp; 40444000 |
| Wastewater RB Series 2021A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2130000 |
| Wastewater RB Series 2024C (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Water CP Series A1 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 22667000 | &nbsp;&nbsp; 22667000 |
| Water CP Series A2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 45943000 | &nbsp;&nbsp; 45943000 |
| Water CP Series A2 (**LOC**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>| &nbsp;&nbsp; 3.06% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 76058000 | &nbsp;&nbsp; 76058000 |
| Water CP Series A3T (**LOC**: BARCLAYS BANK PLC)  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 44500000 | &nbsp;&nbsp; 44500000 |
| **San Francisco Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (3rd & Mission) Series 1999C (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 2.98% |  | &nbsp;&nbsp; 01/07/25 | &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; 2.85% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19700000 | &nbsp;&nbsp; 19700000 |
| M/F Housing RB (Pollard Plaza Apts) Series 2002D (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4595000 | &nbsp;&nbsp; 4595000 |
| M/F Housing Refunding RB (Las Ventanas Apts) Series 2008B <br> (**LOC**: FEDERAL HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25900000 | &nbsp;&nbsp; 25900000 |
| Sub Airport CP Notes Series A1 (**LOC**: BANK OF AMERICA NA)  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 27918000 | &nbsp;&nbsp; 27918000 |
| **San Mateo Cnty Jt Powers Financing Auth** |  |  |  |  |  |
| Lease RB Series 2007A (**LOC**: WELLS FARGO BANK NA) <br> *(a)* | &nbsp;&nbsp; 2.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4875000 | &nbsp;&nbsp; 4875000 |
| Lease RB Series 2018A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &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; 2.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40910000 | &nbsp;&nbsp; 40910000 |
| **San Rafael Redevelopment Agency** |  |  |  |  |  |
| MF Hsg RB (San Rafael Commons Apts) Series 2001A (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 2.99% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1720000 | &nbsp;&nbsp; 1720000 |
| **Santa Clara Cnty Housing Auth** |  |  |  |  |  |
| M/F Housing Refunding RB (Willows Apts) Series 2005A (**LOC**: US <br> BANK NATIONAL ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3212000 | &nbsp;&nbsp; 3212000 |
| **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; 3.39% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19725000 | &nbsp;&nbsp; 19725000 |
| **Southern California Metropolitan Water District** |  |  |  |  |  |
| Sub Water Refunding RB Series 2017A  | &nbsp;&nbsp; 2.50% |  | &nbsp;&nbsp; 07/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99591 |
| Sub Water Refunding RB Series 2024B1 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 61000000 | &nbsp;&nbsp; 61000000 |
| Water Refunding RB Series 2016B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp; 5750000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**15**

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southern California Public Power Auth** |  |  |  |  |  |
| Refunding RB (Canyon Power) Series 2022B (**LOC**: SUMITOMO MITSUI <br> BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 2.26% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60385000 | &nbsp;&nbsp; 60385000 |
| **Univ of California** |  |  |  |  |  |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 7470000 | &nbsp;&nbsp; 7470000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 22150000 | &nbsp;&nbsp; 22150000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 30620000 | &nbsp;&nbsp; 30620000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 6480000 | &nbsp;&nbsp; 6480000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.07% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 30000000 | &nbsp;&nbsp; 30000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp; 22000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.02% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.90% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.00% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp; 17000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/19/25 | &nbsp;&nbsp; 4350000 | &nbsp;&nbsp; 4350000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/20/25 | &nbsp;&nbsp; 21750000 | &nbsp;&nbsp; 21750000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 02/25/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 27080000 | &nbsp;&nbsp; 27080000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.03% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| CP Notes Series 2009A  | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp; 16500000 |
| General RB Series 2018AZ (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| General RB Series 2018AZ (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| General RB Series 2023BN (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.62% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5690000 | &nbsp;&nbsp; 5690000 |
| Limited Project RB Series 2017M (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3645000 | &nbsp;&nbsp; 3645000 |
| Limited Project RB Series 2018O (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10500000 | &nbsp;&nbsp; 10500000 |
| Medical Center Pooled RB Series 2022P (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| **Ventura USD** |  |  |  |  |  |
| GO Bonds Series A (**LIQ**: ROYAL BANK OF CANADA)<br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Westminster Redevelopment Agency** |  |  |  |  |  |
| M/F Housing RB (Brookhurst Royal) Series 2000A (**LOC**: US BANK <br> NATIONAL ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3095000 | &nbsp;&nbsp; 3095000 |
|  |  |  |  |  | &nbsp;&nbsp; **8928532212** |
| **Total Municipal Securities** <br>**(Cost $8,928,532,212)** | **Total Municipal Securities** <br>**(Cost $8,928,532,212)** | **Total Municipal Securities** <br>**(Cost $8,928,532,212)** | **Total Municipal Securities** <br>**(Cost $8,928,532,212)** | **Total Municipal Securities** <br>**(Cost $8,928,532,212)** | &nbsp;&nbsp; **8928532212** |
| **Total Investments in Securities** <br>**(Cost $8,928,532,212)** | **Total Investments in Securities** <br>**(Cost $8,928,532,212)** | **Total Investments in Securities** <br>**(Cost $8,928,532,212)** | **Total Investments in Securities** <br>**(Cost $8,928,532,212)** | **Total Investments in Securities** <br>**(Cost $8,928,532,212)** | &nbsp;&nbsp; **8928532212** |

---

&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 $1,693,924,000 or 18.8% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index.

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

---

| | |
|:---|:---|
| CCD — | Community college district |
| COP — | Certificate of participation |
| CP — | Commercial paper |
| GO — | General obligation |
| 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 |
| USD — | Unified school district |
| VRDN — | Variable rate demand note |

---

------

At December 31, 2024, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

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

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**17**

------

Schwab California Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $8928532212 |
| Cash |  | 35582 |
| Receivables: |  |  |
| Fund shares sold |  | 108075356 |
| Interest |  | 40340246 |
| Investments sold |  | 28012611 |
| Prepaid expenses | + | 44259 |
| **Total assets** |  | **9105040266** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 37566498 |
| Investments bought |  | 30012000 |
| Distributions to shareholders |  | 4747642 |
| Investment adviser and administrator fees |  | 1394061 |
| Shareholder service fees |  | 63223 |
| Independent trustees' fees |  | 195 |
| Accrued expenses | + | 332795 |
| **Total liabilities** |  | **74116414** |
| **Net assets** |  | **$9030923852** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $9030920273 |
| Total distributable earnings | + | 3579 |
| **Net assets** |  | **$9030923852** |

---

&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 | $2605279121 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2604692978 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $6425644731 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6424197922 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

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

------

Schwab California Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$266625627** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 16471130 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 3750842 |
| Portfolio accounting fees |  | 146251 |
| Registration fees |  | 130476 |
| Custodian fees |  | 83203 |
| Professional fees |  | 55608 |
| Independent trustees' fees |  | 52374 |
| Shareholder reports |  | 30567 |
| Transfer agent fees  |  | 1308 |
| Other expenses | + | 67935 |
| **Total expenses** |  | **20789694** |
| Expense reduction | – | 554741 |
| **Net expenses** | – | **20234953** |
| **Net investment income** |  | **246390674** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **293852** |
| **Increase in net assets resulting from operations** |  | **$246684526** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**19**

------

Schwab California Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $246390674 | &nbsp;&nbsp;&nbsp; $234403267 |
| Net realized gains | + | 293852 | &nbsp;&nbsp;&nbsp; 912481 |
| **Increase in net assets from operations** |  | **$246684526** | &nbsp;&nbsp;&nbsp; **$235315748** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($68466453)<br>| &nbsp;&nbsp;&nbsp; ($69867142)<br>|
| Ultra Shares | + | (178171644)<br>| &nbsp;&nbsp;&nbsp; (165164884)<br>|
| **Total distributions** |  | **($246638097)**<br>| &nbsp;&nbsp;&nbsp; **($235032026)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 2660029948 | &nbsp;&nbsp;&nbsp; 3479000275 |
| Ultra Shares | + | 8254962482 | &nbsp;&nbsp;&nbsp; 9253572975 |
| **Total shares sold** |  | **10914992430** | &nbsp;&nbsp;&nbsp; **12732573250** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 51210392 | &nbsp;&nbsp;&nbsp; 52337407 |
| Ultra Shares | + | 138605602 | &nbsp;&nbsp;&nbsp; 129002978 |
| **Total shares reinvested** |  | **189815994** | &nbsp;&nbsp;&nbsp; **181340385** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (2589346109)<br>| &nbsp;&nbsp;&nbsp; (3651541397)<br>|
| Ultra Shares | + | (7529704044)<br>| &nbsp;&nbsp;&nbsp; (9277212685)<br>|
| **Total shares redeemed** |  | **(10119050153)**<br>| &nbsp;&nbsp;&nbsp; **(12928754082)**<br>|
| **Net transactions in fund shares** |  | **985758271** | &nbsp;&nbsp;&nbsp; **(14840447)**<br>|
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $8045119152 | &nbsp;&nbsp;&nbsp; $8059675877 |
| Total increase (decrease) | + | 985804700 | &nbsp;&nbsp;&nbsp; (14556725)<br>|
| **End of period** |  | **$9030923852** | &nbsp;&nbsp;&nbsp; **$8045119152** |

---

&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*

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

------

Schwab New York Municipal Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.03 | 0.03 | 0.01 | 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>| &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 | 0.03 | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.34<br> %<br>| 0.34<br> %<br>| 0.31 %<sup>3,4</sup><br>| 0.12 %<sup>4</sup><br>| 0.30 %<sup>4,5</sup><br>|
| Total expenses | 0.36<br> %<br>| 0.36<br> %<br>| 0.37 %<sup>3</sup><br>| 0.38<br> %<br>| 0.49<br> %<br>|
| Net investment income (loss) | 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; $1054 | &nbsp;&nbsp; $989 | &nbsp;&nbsp; $702 | &nbsp;&nbsp; $470 | &nbsp;&nbsp; $668 |

---

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

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

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

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

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

<sup>5</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 \| Annual Holdings and Financial Statements

**21**

------

Schwab New York Municipal Money Fund

**FINANCIAL HIGHLIGHTS (continued)**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ultra Shares** | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>2</sup> <br>| 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>| &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 | 0.03 | 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; (0.03)<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; (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; (0.03)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.19 %<sup>5,6</sup><br>| 0.12 %<sup>6</sup><br>| 0.19 %<sup>7</sup><br>|
| Total expenses | 0.21<br> %<br>| 0.21<br> %<br>| 0.22 %<sup>5</sup><br>| 0.23<br> %<br>| 0.22 %<sup>7</sup><br>|
| Net investment income (loss) | 3.15<br> %<br>| 3.13<br> %<br>| 1.60<br> %<br>| 0.01<br> %<br>| 0.03 %<sup>7</sup><br>|
| Net assets, end of period (x 1,000,000) | &nbsp;&nbsp; $1848 | &nbsp;&nbsp; $1394 | &nbsp;&nbsp; $1058 | &nbsp;&nbsp; $98 | &nbsp;&nbsp; $119 |

---

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

<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> 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> Annualized.

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024

------

For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 97.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 97.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 97.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 97.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 97.9% OF NET ASSETS | **MUNICIPAL SECURITIES** 97.9% OF NET ASSETS |
| **NEW YORK 97.9%** | **NEW YORK 97.9%** | **NEW YORK 97.9%** | **NEW YORK 97.9%** | **NEW YORK 97.9%** | **NEW YORK 97.9%** |
| **Albany IDA** |  |  |  |  |  |
| Sr Housing RB (South Mall Towers) Series 2003A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION)<br>*(a)* | &nbsp;&nbsp; 3.77% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200000 |
| **Amherst Development Corp Student Housing Facilities** |  |  |  |  |  |
| Sr Living Facility Refunding RB (Asbury Pointe Inc) Series 2011A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6445000 | &nbsp;&nbsp; 6445000 |
| **Amityville UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3013811 |
| **Battery Park City Auth** |  |  |  |  |  |
| Jr RB Series 2019D1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2075000 | &nbsp;&nbsp; 2075000 |
| **BlackRock Municipal Income Trust** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series W7 (**LOC**: BANK OF <br> AMERICA NA)<br>*(a)(b)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &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)(b)* | &nbsp;&nbsp; 3.76% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 83000000 | &nbsp;&nbsp; 83000000 |
| **Colonie Local Development Corp** |  |  |  |  |  |
| RB (Shaker Pointe at Carondelet) Series 2011 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
| RB (Shaker Pointe at Carondelet) Series 2013 (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9345000 | &nbsp;&nbsp; 9345000 |
| **Commack UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6028856 |
| **Cornwall CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/18/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2008034 |
| **Deer Park UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10044403 |
| **East Rochester Hsg Auth** |  |  |  |  |  |
| Housing RB (Park Ridge Nursing Home) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10255000 | &nbsp;&nbsp; 10255000 |
| **Eastchester UFSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/24/25 | &nbsp;&nbsp; 29500000 | &nbsp;&nbsp; 29517336 |
| **Eastport South Manor CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18015301 |
| **Erie Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Canisius High School) Series 2008 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8765000 | &nbsp;&nbsp; 8765000 |
| **Frontier CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 10415000 | &nbsp;&nbsp; 10460291 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**23**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Half Hollow Hills CSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10037767 |
| **Hauppauge UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10046922 |
| **Hudson Yards Infrastructure** |  |  |  |  |  |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15000000 |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| 2nd Indenture RB Fiscal 2017 Series A (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp; 6250000 |
| **Hyde Park CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3389754 |
| **Kingston** |  |  |  |  |  |
| BAN 2024A  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11517757 |
| BAN 2024B  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15038293 |
| **Lancaster IDA** |  |  |  |  |  |
| Civic Facility RB (GreenField Manor) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8300000 |
| IDRB (Sealing Devices) Series 2007 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp; 665000 |
| IDRB (Sealing Devices) Series 2016 (**LOC**: HSBC BANK USA NA) <br> *(a)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2335000 | &nbsp;&nbsp; 2335000 |
| **Manhasset UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3016756 |
| **Metropolitan Transportation Auth** |  |  |  |  |  |
| Dedicated Tax Fund RB Series 2024B1 (**LIQ**: MORGAN STANLEY BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-1 (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2430000 | &nbsp;&nbsp; 2430000 |
| Dedicated Tax Fund Refunding Bonds Series 2008A-2A (**LOC**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1150000 |
| Transportation RB Series 2005D1 (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5540000 | &nbsp;&nbsp; 5540000 |
| Transportation RB Series 2015E3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |
| Transportation Refunding RB Series 2002D2B (**LOC**: TRUIST BANK) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| Transportation Refunding RB Series 2012G4 (**LOC**: BANK OF AMERICA <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| **Minisink Valley CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 5114823 | &nbsp;&nbsp; 5134929 |
| **Monroe Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Margaret Woodbury Strong Museum) Series 2005 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6695000 | &nbsp;&nbsp; 6695000 |
| **Mount Sinai UFSD** |  |  |  |  |  |
| TAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 14750000 | &nbsp;&nbsp; 14807746 |
| **Nassau Cnty IDA** |  |  |  |  |  |
| Housing RB (Rockville Centre Housing Associates) Series 2007 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7170000 | &nbsp;&nbsp; 7170000 |
| **New Hartford CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10038101 |
| **New Rochelle CSD** |  |  |  |  |  |
| BAN 2024A | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 17700000 | &nbsp;&nbsp; 17737967 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York City** |  |  |  |  |  |
| GO Bonds Fiscal 2012 Series A5 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14165000 | &nbsp;&nbsp; 14165000 |
| GO Bonds Fiscal 2012 Series D-3A (**LIQ**: BANK OF NEW YORK <br> MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10160000 | &nbsp;&nbsp; 10160000 |
| GO Bonds Fiscal 2012 Series D3B (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1900000 |
| GO Bonds Fiscal 2013 Series F3 (**LIQ**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300000 |
| GO Bonds Fiscal 2014 Series D4 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2620000 | &nbsp;&nbsp; 2620000 |
| GO Bonds Fiscal 2015 Series F7 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7830000 | &nbsp;&nbsp; 7830000 |
| GO Bonds Fiscal 2017 Series A4 (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| GO Bonds Fiscal 2017 Series A5 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10950000 | &nbsp;&nbsp; 10950000 |
| GO Bonds Fiscal 2017 Series A6 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 480000 |
| GO Bonds Fiscal 2018 Series E1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6850000 | &nbsp;&nbsp; 6850000 |
| GO Bonds Fiscal 2018 Series E4 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6550000 | &nbsp;&nbsp; 6550000 |
| GO Bonds Fiscal 2018 Series E-5 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| GO Bonds Fiscal 2020 Series C1  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 08/01/25 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 186943 |
| GO Bonds Fiscal 2020 Series D (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp; 8650000 |
| GO Bonds Fiscal 2021 Series F1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| GO Bonds Fiscal 2022 Series D1 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3485000 | &nbsp;&nbsp; 3485000 |
| GO Bonds Fiscal 2022 Series D3 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3230000 | &nbsp;&nbsp; 3230000 |
| GO Bonds Fiscal 2022 Series D4 (**LIQ**: STATE STREET BANK AND TRUST <br> COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8900000 |
| GO Bonds Fiscal 2023 Series A1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13500000 | &nbsp;&nbsp; 13500000 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| GO Bonds Fiscal 2023 Series B1 (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| GO Bonds Fiscal 2023 Series E1 (**LIQ**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
| GO Bonds Fiscal 2024 Series A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| GO Bonds Fiscal 2025 Series A (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3705000 | &nbsp;&nbsp; 3705000 |
| GO Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE BANK AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8545000 | &nbsp;&nbsp; 8545000 |
| GO Bonds Fiscal 2025 Series C3 (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 68750000 | &nbsp;&nbsp; 68750000 |
| Refunding RB (American Museum of Natural History) Series 2014B1 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(c)* | &nbsp;&nbsp; 3.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 16740000 | &nbsp;&nbsp; 16740000 |
| **New York City Housing Development Corp** |  |  |  |  |  |
| M/F Housing RB (Atlantic Court Apts) Series 2005A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| M/F Housing RB (Royal Charter Properties-East) Series 2005A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1200000 |
| M/F Housing RB Series 2018L2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5295000 | &nbsp;&nbsp; 5295000 |
| M/F Housing RB Series 2020I3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4650000 | &nbsp;&nbsp; 4650000 |
| M/F Housing RB Series 2021F3 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2070000 |
| M/F Housing RB Series 2022C3 (**LIQ**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| M/F Housing RB Series 2022F3 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 88340000 | &nbsp;&nbsp; 88340000 |
| M/F Housing RB Series 2023 E1A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| M/F Housing RB Series 2023A3 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6475000 | &nbsp;&nbsp; 6475000 |
| M/F Housing RB Series 2023B2 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.05% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**25**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| M/F Housing RB Series 2023E3 (**LIQ**: SUMITOMO MITSUI BANKING <br> CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| M/F Housing RB Series 2024D2 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| M/F Housing RB Series B1A & C1A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &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; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| M/F Mortgage RB (East Clarke Place Associates) Series 2005A <br> (**LOC**: JPMORGAN CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1430000 | &nbsp;&nbsp; 1430000 |
| M/F Mortgage RB (Granville Payne Apts) Series 2006A (**LOC**: CITIBANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4960000 | &nbsp;&nbsp; 4960000 |
| M/F Mortgage RB (West 26th Street) Series 2011A (**LOC**: FEDERAL <br> HOME LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16535000 | &nbsp;&nbsp; 16535000 |
| M/F Rental Housing RB (Related - W 89th St) Series 2000A <br> (**LOC**: FEDERAL NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| **New York City Municipal Water Finance Auth** |  |  |  |  |  |
| Water & Sewer 2nd Resolution RB Fiscal 2023 Series DD <br> (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |
| Water & Sewer System 2nd Genaral Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: MORGAN STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4730000 | &nbsp;&nbsp; 4730000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2024 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp; 3250000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Water & Sewer System 2nd General Resolution RB Fiscal 2025 <br> Series AA1 (**LIQ**: ROYAL BANK OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4465000 | &nbsp;&nbsp; 4465000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2007 Series CC2 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2011 Series FF1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5900000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA4 <br> (**LIQ**: STATE STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2014 Series AA6 <br> (**LIQ**: MIZUHO BANK LTD) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2015 Series BB4 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13085000 | &nbsp;&nbsp; 13085000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2017 Series DD Fiscal <br> 2018 Series BB1&CC1 (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 9995000 | &nbsp;&nbsp; 9995000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2018 Series DD1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp; 1665000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2021 Series CC1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7815000 | &nbsp;&nbsp; 7815000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 & 2021 <br> Series CC1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2022 Series CC1 <br> (**LIQ**: BANK OF AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3345000 | &nbsp;&nbsp; 3345000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA1 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2500000 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series AA3 <br> (**LIQ**: WELLS FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4445000 | &nbsp;&nbsp; 4445000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series CC <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp; 3365000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2023 Series DD & <br> 2020 Series BB (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2030000 | &nbsp;&nbsp; 2030000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 24550000 | &nbsp;&nbsp; 24550000 |
| Water & Sewer System 2nd Resolution RB Fiscal 2024 Series AA1 <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1330000 | &nbsp;&nbsp; 1330000 |
| Water & Sewer System RB Fiscal 2011 Series DD1 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| Water & Sewer System RB Fiscal 2016 Series AA3 (**LIQ**: ROYAL BANK <br> OF CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3375000 |
| Water & Sewer System RB Fiscal 2017 Series BB1B (**LIQ**: STATE <br> STREET BANK AND TRUST COMPANY) <br>*(a)* | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3240000 | &nbsp;&nbsp; 3240000 |
| Water & Sewer System RB Fiscal 2019 Series BB (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 18100000 | &nbsp;&nbsp; 18100000 |
| Water & Sewer System RB Fiscal 2019 Series CC (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Water & Sewer System RB Fiscal 2021 Series AA1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3615000 | &nbsp;&nbsp; 3615000 |
| Water & Sewer System RB Fiscal 2021 Series CC1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2445000 |
| Water & Sewer System RB Fiscal 2023 Series AA3 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| Water & Sewer System RB Fiscal 2023 Series BB2 (**LIQ**: MIZUHO BANK <br> LTD) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| **New York City Transitional Finance Auth** |  |  |  |  |  |
| Building Aid RB Fiscal 2021 Series S1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp; 6450000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E3 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8870000 | &nbsp;&nbsp; 8870000 |
| Future Tax Secured Sub Bonds Fiscal 2015 Series E4 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |
| Future Tax Secured Sub Bonds Fiscal 2016 Series E4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6680000 | &nbsp;&nbsp; 6680000 |
| Future Tax Secured Sub Bonds Fiscal 2017 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 985000 | &nbsp;&nbsp; 985000 |
| Future Tax Secured Sub Bonds Fiscal 2018 Series C7 (**LIQ**: TD BANK <br> NA) <br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2415000 | &nbsp;&nbsp; 2415000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series A4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4070000 | &nbsp;&nbsp; 4070000 |
| Future Tax Secured Sub Bonds Fiscal 2019 Series B4 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(a)* | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9495000 | &nbsp;&nbsp; 9495000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series C1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Future Tax Secured Sub Bonds Fiscal 2022 Series F1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 900000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**27**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (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 2023 Series A3 (**LIQ**: BANK OF <br> NEW YORK MELLON/THE) <br>*(a)* | &nbsp;&nbsp; 3.98% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6620000 | &nbsp;&nbsp; 6620000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| Future Tax Secured Sub Bonds Fiscal 2023 Series D1 (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9190000 | &nbsp;&nbsp; 9190000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series A1 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series B (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2445000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series B (**LIQ**: WELLS <br> FARGO BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7605000 | &nbsp;&nbsp; 7605000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2755000 | &nbsp;&nbsp; 2755000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11250000 | &nbsp;&nbsp; 11250000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3475000 | &nbsp;&nbsp; 3475000 |
| Future Tax Secured Sub Bonds Fiscal 2024 Series C (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.52% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4290000 | &nbsp;&nbsp; 4290000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C1 (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9815000 | &nbsp;&nbsp; 9815000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series C4 (**LIQ**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: DEUTSCHE <br> BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| Future Tax Secured Sub Bonds Fiscal 2025 Series D (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8550000 | &nbsp;&nbsp; 8550000 |
| Future Tax Secured Sub Bonds Fiscal Series 2022B1 & 2021E1 & <br> 2023F1 & 2024F1 (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 27195000 | &nbsp;&nbsp; 27195000 |
| **New York City Trust for Cultural Resources** |  |  |  |  |  |
| Refunding RB (American Museum of Natural History) Series 2014B2 <br> (SIFMA Municipal Swap Index + 0.04%)<br>*(c)* | &nbsp;&nbsp; 3.66% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/23/25 | &nbsp;&nbsp; 16495000 | &nbsp;&nbsp; 16495000 |
| **New York Power Auth** |  |  |  |  |  |
| Green Transmission RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK <br> NA)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **New York State Dormitory Auth** |  |  |  |  |  |
| CP Notes  | &nbsp;&nbsp; 3.06% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| CP Notes  | &nbsp;&nbsp; 2.95% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 33450000 | &nbsp;&nbsp; 33446687 |
| CP Notes  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 7725000 | &nbsp;&nbsp; 7725000 |
| CP Notes  | &nbsp;&nbsp; 3.04% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 28000000 | &nbsp;&nbsp; 28000000 |
| CP Notes  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/12/25 | &nbsp;&nbsp; 21950000 | &nbsp;&nbsp; 21950000 |
| NYC Court Facilities Lease RB Series 2005B (**LOC**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19000000 | &nbsp;&nbsp; 19000000 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| RB (Catholic Health System) Series 2019B (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO) <br>*(a)* | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34000000 | &nbsp;&nbsp; 34000000 |
| RB (Columbia Univ) Series 2015A, 2016A2, 2017A, 2018A <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 13770000 | &nbsp;&nbsp; 13770000 |
| RB (Cornell Univ) Series 2024A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7900000 | &nbsp;&nbsp; 7900000 |
| RB (Memorial Sloan-Kettering Cancer Center) Series 20221B <br> (**LIQ**: BARCLAYS BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp; 5215000 |
| RB (Northwell Health) Series 2022A (**LOC**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6830000 | &nbsp;&nbsp; 6830000 |
| RB (NYU Langone Hospitals) Series 2020A (**LOC**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp; 705000 |
| RB (Royal Charter Properties-East) Series 2006A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35345000 | &nbsp;&nbsp; 35345000 |
| State Personal Income Tax RB Series 2017B (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13280000 | &nbsp;&nbsp; 13280000 |
| State Personal Income Tax RB Series 2018A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7000000 |
| State Personal Income Tax RB Series 2019A (**LIQ**: BANK OF AMERICA <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp; 3330000 |
| State Personal Income Tax RB Series 2020A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| State Personal Income Tax RB Series 2020A & 2021A (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 490000 |
| State Personal Income Tax RB Series 2020A & 2022A (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3455000 | &nbsp;&nbsp; 3455000 |
| State Personal Income Tax RB Series 2021A (**LIQ**: WELLS FARGO BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8870000 | &nbsp;&nbsp; 8870000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2035000 | &nbsp;&nbsp; 2035000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4090000 | &nbsp;&nbsp; 4090000 |
| State Personal Income Tax RB Series 2024A (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1970000 | &nbsp;&nbsp; 1970000 |
| State Sales Tax RB Series 2018E (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp; 2350000 |
| State Sales Tax RB Series 2018E (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.64% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 22870000 | &nbsp;&nbsp; 22870000 |
| State Sales Tax RB Series 2018E (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp; 2125000 |
| State Sales Tax RB Series 2024A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9940000 | &nbsp;&nbsp; 9940000 |
| **New York State Energy Research & Development Auth** |  |  |  |  |  |
| Facilities RB (Consolidated Edison) Series 2005A3 (**LOC**: MIZUHO BANK <br> LTD)<br>*(a)* | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| **New York State Environmental Facilities Corp** |  |  |  |  |  |
| State Revolving Funds RB Series 2022B (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5340000 | &nbsp;&nbsp; 5340000 |
| State Revolving Funds RB Series 2022B (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7125000 | &nbsp;&nbsp; 7125000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**29**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York State HFA** |  |  |  |  |  |
| Housing RB (10 Barclay St) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400000 |
| Housing RB (10 Liberty St) Series 2003A (**LOC**: FEDERAL HOME LOAN <br> MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.57% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
| Housing RB (100 Maiden Lane) Series 2004A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600000 |
| Housing RB (1500 Lexington Ave) Series 2002A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11715000 | &nbsp;&nbsp; 11715000 |
| Housing RB (250 W 93rd St) Series 2005A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 32975000 | &nbsp;&nbsp; 32975000 |
| Housing RB (316 11th Ave) Series 2007A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31200000 | &nbsp;&nbsp; 31200000 |
| Housing RB (360 W 43rd St) Series 2002A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| Housing RB (39th St) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13700000 | &nbsp;&nbsp; 13700000 |
| Housing RB (39th St) Series 2000A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16800000 | &nbsp;&nbsp; 16800000 |
| Housing RB (600 W 42nd St) Series 2008A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 40000000 |
| Housing RB (750 6th Ave) Series 1998A (**LOC**: LANDESBANK HESSEN <br> THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Housing RB (8 East 102nd St) Series 2010A (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 435000 |
| Housing RB (Clinton Green North) Series 2005A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 38145000 | &nbsp;&nbsp; 38145000 |
| Housing RB (Clinton Green North) Series 2006A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 35300000 | &nbsp;&nbsp; 35300000 |
| Housing RB (Clinton Green South) Series 2005A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| Housing RB (Historic Front St) Series 2003A (**LOC**: LANDESBANK <br> HESSEN THUERINGEN GIROZENTRALE) <br>*(a)* | &nbsp;&nbsp; 3.78% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| Housing RB (McCarthy Manor Apts) Series 2007A (**LOC**: FEDERAL <br> NATIONAL MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4305000 | &nbsp;&nbsp; 4305000 |
| Housing RB (Saville Housing) Series 2002A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4990000 | &nbsp;&nbsp; 4990000 |
| Housing RB (The Helena Apts) Series 2003A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19700000 | &nbsp;&nbsp; 19700000 |
| Housing RB (Theatre Row Tower) Series 2000A (**LOC**: FEDERAL HOME <br> LOAN MORTGAGE CORPORATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp; 11700000 |
| Housing RB (Tribeca Park) Series 1997A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| Housing RB (W 17th St) Series 2009A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 530000 |
| Housing RB (W. 23rd St.) Series 2001A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.70% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 13000000 | &nbsp;&nbsp; 13000000 |
| Housing RB (West Village Apts) Series 2008A (**LOC**: CITIBANK NA) <br> *(a)* | &nbsp;&nbsp; 3.73% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4700000 |
| Housing RB (Worth Street) Series 2002A (**LOC**: FEDERAL NATIONAL <br> MORTGAGE ASSOCIATION) <br>*(a)* | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 34900000 | &nbsp;&nbsp; 34900000 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **New York State Mortgage Agency** |  |  |  |  |  |
| Homeowner Mortgage RB Series 210 (**LIQ**: ROYAL BANK OF CANADA) <br> *(a)* | &nbsp;&nbsp; 3.60% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16000000 |
| Homeowner Mortgage RB Series 236 (**LIQ**: UBS AG) <br> *(a)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 31180000 | &nbsp;&nbsp; 31180000 |
| Homeowner Mortgage RB Series 249 (**LIQ**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 12315000 | &nbsp;&nbsp; 12315000 |
| Homeowner Mortgage RB Series 258 (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2365000 | &nbsp;&nbsp; 2365000 |
| Homeowner Mortgage RB Series 264 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1170000 | &nbsp;&nbsp; 1170000 |
| **New York State Power Auth** |  |  |  |  |  |
| CP Series 1  | &nbsp;&nbsp; 3.25% |  | &nbsp;&nbsp; 01/08/25 | &nbsp;&nbsp; 9354000 | &nbsp;&nbsp; 9354000 |
| CP Series 1  | &nbsp;&nbsp; 3.08% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| CP Series 1  | &nbsp;&nbsp; 3.10% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11500000 |
| CP Series 2  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 34904000 | &nbsp;&nbsp; 34904000 |
| CP Series 2  | &nbsp;&nbsp; 3.15% |  | &nbsp;&nbsp; 02/05/25 | &nbsp;&nbsp; 17368000 | &nbsp;&nbsp; 17368000 |
| RB Series 2020A (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 11290000 | &nbsp;&nbsp; 11290000 |
| RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2445000 | &nbsp;&nbsp; 2445000 |
| **New York State Thruway Auth** |  |  |  |  |  |
| State Personal Income Tax RB Series 2021A1 (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6500000 |
| State Personal Income Tax RB Series 2021A1, 2022A, 2022C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 29225000 | &nbsp;&nbsp; 29225000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: BARCLAYS BANK <br> PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| State Personal Income Tax RB Series 2022C (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3390000 | &nbsp;&nbsp; 3390000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp; 5625000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1565000 | &nbsp;&nbsp; 1565000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: MORGAN STANLEY <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| State Personal Income Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp; 3880000 |
| State Personal Income Tax RB Series 2023A (**LIQ**: UBS AG) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.95% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| State Sales Tax RB Series 2021A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1825000 | &nbsp;&nbsp; 1825000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| State Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 25000000 | &nbsp;&nbsp; 25000000 |
| State Sales Tax RB Series 2023A (**LIQ**: MORGAN STANLEY BANK NA) <br> (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 24465000 | &nbsp;&nbsp; 24465000 |
| State Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| **Niagara-Wheatfield CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 21500000 | &nbsp;&nbsp; 21581843 |
| **Niskayuna CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10045615 |
| **North Babylon NY UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 3.50% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 14004382 |
| **Northport-East Northport UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5020639 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**31**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Nuveen New York AMT-Free Quality Municipal Income Fund** |  |  |  |  |  |
| Variable Rate Demand Preferred Shares Series 1 (**LOC**: SOCIETE <br> GENERALE SA) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 14200000 | &nbsp;&nbsp; 14200000 |
| Variable Rate Demand Preferred Shares Series 3 (**LOC**: SUMITOMO <br> MITSUI BANKING CORPORATION) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
| Variable Rate Demand Preferred Shares Series 5 <br> (**LOC**: TORONTO-DOMINION BANK/THE) <br>*(a)(b)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &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; 3.95% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4070000 | &nbsp;&nbsp; 4070000 |
| **Oyster Bay-East Norwich CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp; 23500000 | &nbsp;&nbsp; 23605064 |
| **Penn Yan CSD** |  |  |  |  |  |
| GO BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 4520062 | &nbsp;&nbsp; 4538461 |
| **Port Auth of New York & New Jersey** |  |  |  |  |  |
| Consolidated Bonds 177th Series (**LIQ**: TORONTO-DOMINION <br> BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.69% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
| Consolidated Bonds 188th Series  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 371627 |
| Consolidated Bonds 200th Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3930000 | &nbsp;&nbsp; 3930000 |
| Consolidated Bonds 218th Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1745000 | &nbsp;&nbsp; 1745000 |
| Consolidated Bonds 221st & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6960000 | &nbsp;&nbsp; 6960000 |
| Consolidated Bonds 221st Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6815000 | &nbsp;&nbsp; 6815000 |
| Consolidated Bonds 221st Series (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.55% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1310000 | &nbsp;&nbsp; 1310000 |
| Consolidated Bonds 232nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 640000 | &nbsp;&nbsp; 640000 |
| Consolidated Bonds 234th Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp; 2130000 |
| Consolidated Bonds 236th & 223rd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp; 3850000 |
| Consolidated Bonds 236th Series (**LOC**: ROYAL BANK OF CANADA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7600000 | &nbsp;&nbsp; 7600000 |
| Consolidated Bonds 241st Series (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1400000 |
| Consolidated Bonds 242nd Series (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.68% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2400000 |
| Consolidated Bonds 242nd Series (**LIQ**: CITIBANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| **Red Hook CSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 4560000 | &nbsp;&nbsp; 4580152 |
| **Rensselaer Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Sage Colleges) Series 2002A (**LOC**: MANUFACTURERS <br> AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp; 2050000 |
| **Sayville UFSD** |  |  |  |  |  |
| BAN Series 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp; 15043962 |
| **Schenectady IDA** |  |  |  |  |  |
| Civic Facility RB (Union Graduate College) Series 2008A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3585000 | &nbsp;&nbsp; 3585000 |
| **Skaneateles CSD** |  |  |  |  |  |
| GO BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 15625028 | &nbsp;&nbsp; 15689385 |
| **South Huntington UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10047378 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **Southold** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp; 18354160 | &nbsp;&nbsp; 18488694 |
| **Spencerport CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/27/25 | &nbsp;&nbsp; 16900000 | &nbsp;&nbsp; 16970848 |
| **Suffolk Cnty** |  |  |  |  |  |
| TAN 2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/25/25 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10063456 |
| **Tompkins Cnty IDA** |  |  |  |  |  |
| Variable Rate Demand Civic Facility RB Series 2003A <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.90% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6655000 | &nbsp;&nbsp; 6655000 |
| **Tonawanda** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8051358 |
| **Triborough Bridge & Tunnel Auth** |  |  |  |  |  |
| 2nd Sub BAN Series 2024A  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 12/01/25 | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 18302846 |
| General RB Series 2001C (**LOC**: BARCLAYS BANK PLC) <br> *(a)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4760000 | &nbsp;&nbsp; 4760000 |
| General RB Series 2003B2 (**LOC**: TD BANK NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2085000 | &nbsp;&nbsp; 2085000 |
| General RB Series 2018A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1250000 |
| General RB Series 2019A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3305000 | &nbsp;&nbsp; 3305000 |
| General RB Series 2020A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| General RB Series 2021A (**LIQ**: MORGAN STANLEY BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2750000 |
| General RB Series 2021A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 10365000 | &nbsp;&nbsp; 10365000 |
| General RB Series 2022A 2023B (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8225000 | &nbsp;&nbsp; 8225000 |
| General RB Series 2023B1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 24975000 | &nbsp;&nbsp; 24975000 |
| General RB Series 2023B1 & 2020A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3120000 | &nbsp;&nbsp; 3120000 |
| General Refunding RB Series 2005B3 (**LOC**: BANK OF AMERICA NA) <br> *(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 6825000 | &nbsp;&nbsp; 6825000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2021B1 (**LIQ**: ROYAL BANK OF <br> CANADA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp; 2665000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4050000 | &nbsp;&nbsp; 4050000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022A, 2021C1A & 2021C3 <br> (**LIQ**: DEUTSCHE BANK AG) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.67% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8387000 | &nbsp;&nbsp; 8387000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp; 345000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp; 1040000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022C (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1875000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: BARCLAYS <br> BANK PLC) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.53% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8610000 | &nbsp;&nbsp; 8610000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4555000 | &nbsp;&nbsp; 4555000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2022D2 (**LIQ**: WELLS FARGO <br> BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4840000 | &nbsp;&nbsp; 4840000 |
| Payroll Mobility Tax Sr Lien Bonds Series 2024B (**LIQ**: MORGAN <br> STANLEY BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 6665000 | &nbsp;&nbsp; 6665000 |
| Payroll Mobility Tax Sr Lien Refunding RB Series 2023C <br> (**LIQ**: JPMORGAN CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4025000 | &nbsp;&nbsp; 4025000 |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**33**

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| Payroll Mobility Tax Sr. Lien Bonds Series 2021A1 <br> (**LIQ**: TORONTO-DOMINION BANK/THE) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 20380000 | &nbsp;&nbsp; 20380000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022A (**LIQ**: MORGAN <br> STANLEY BANK NA) (SIFMA Municipal Swap Index + 0.15%)<br>*(b)(c)(d)* | &nbsp;&nbsp; 3.77% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/09/25 | &nbsp;&nbsp; 22325000 | &nbsp;&nbsp; 22325000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022C (**LIQ**: JPMORGAN <br> CHASE BANK NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp; 2670000 |
| Payroll Mobility Tax Sr. Lien Bonds Series 2022D2 (**LIQ**: BANK OF <br> AMERICA NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4100000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9375000 | &nbsp;&nbsp; 9375000 |
| Sales Tax RB Series 2022A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp; 3625000 |
| Sales Tax RB Series 2022A (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.66% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5000000 |
| Sales Tax RB Series 2023A (**LIQ**: BANK OF AMERICA NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 23290000 | &nbsp;&nbsp; 23290000 |
| Sales Tax RB Series 2023A (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 8335000 | &nbsp;&nbsp; 8335000 |
| Sales Tax RB Series 2023A (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 19715000 | &nbsp;&nbsp; 19715000 |
| Sales Tax RB Series 2023A & 2022A (**LIQ**: JPMORGAN CHASE BANK <br> NA) <br>*(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| Sales Tax RB Series 2024A1 (**LIQ**: BARCLAYS BANK PLC) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.85% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7500000 |
| Sales Tax RB Series 2024A1 (**LIQ**: JPMORGAN CHASE BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 4.10% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9000000 |
| Sales Tax RB Series 2024A1 (**LIQ**: TORONTO-DOMINION BANK/THE) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| Sales Tax RB Series 2024A1 (**LIQ**: WELLS FARGO BANK NA) <br> *(b)(c)(d)* | &nbsp;&nbsp; 3.65% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 2565000 | &nbsp;&nbsp; 2565000 |
| **Tuckahoe UFSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 04/24/25 | &nbsp;&nbsp; 12643000 | &nbsp;&nbsp; 12675161 |
| **Ulster Cnty** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 3.75% |  | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp; 16082558 |
| **Vestal CSD** |  |  |  |  |  |
| GO BAN 2024A  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 14500000 | &nbsp;&nbsp; 14573494 |
| GO BAN 2024B  | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 2143800 | &nbsp;&nbsp; 2156095 |
| **Wappingers CSD** |  |  |  |  |  |
| BAN 2024 | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 08/08/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4022194 |
| **Warren & Washington Cnty IDA** |  |  |  |  |  |
| Civic Facility RB (Glen at Hiland Meadows) Series 2000 <br> (**LOC**: MANUFACTURERS AND TRADERS TRUST CO)<br>*(a)* | &nbsp;&nbsp; 3.80% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 495000 |
| **West Babylon UFSD** |  |  |  |  |  |
| TAN 2024-2025 | &nbsp;&nbsp; 4.00% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5021903 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER<br> TYPE OF SECURITY, SERIES<br>| FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| FACE<br> AMOUNT ($)<br>| VALUE ($) |
| **West Genesee CSD** |  |  |  |  |  |  |
| BAN 2024A |  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp; 3866022 |
|  |  |  |  |  |  | &nbsp;&nbsp; **2842428791** |
| **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | **Total Municipal Securities** <br>**(Cost $2,842,428,791)** | &nbsp;&nbsp; **2842428791** |
| **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | **Total Investments in Securities** <br>**(Cost $2,842,428,791)** | &nbsp;&nbsp; **2842428791** |

---

&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 $1,260,512,000 or 43.4% of net assets.

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

&nbsp;&nbsp;&nbsp;&nbsp;*(d)* TOB is a synthetically created VRDN where the owner of a long-term bond places the bond in a trust in combination with a liquidity facility. The trust then sells certificates which mirror the VRDN sold directly by a municipal issuer. VRDN is a municipal security which allows holders to sell their security through a put or tender feature, at par value plus accrued interest. The interest rate resets on a periodic basis, the majority of which are weekly but may be daily or monthly. Unless a reference rate and spread is shown parenthetically, the Remarketing Agent, generally a dealer, determines the interest rate for the security at each interest rate reset date. The rate is typically based on the SIFMA Municipal Swap Index.

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

---

| | |
|:---|:---|
| BAN — | Bond anticipation note |
| CP — | Commercial paper |
| CSD — | Central school district |
| GO — | General obligation |
| HFA — | Housing finance agency/authority |
| IDA — | Industrial development agency/authority |
| IDRB — | Industrial development revenue bond |
| LIQ — | Liquidity agreement |
| LOC — | Letter of credit |
| M/F — | Multi-family |
| RB — | Revenue bond |
| 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 |

---

------

At December 31, 2024, all of the fund's investment securities were classified as Level 2. The breakdown of the fund's investments

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

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**35**

------

Schwab New York Municipal Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $2842428791 |
| Cash |  | 2964 |
| Receivables: |  |  |
| Fund shares sold |  | 51913774 |
| Interest |  | 18785576 |
| Prepaid expenses | + | 25529 |
| **Total assets** |  | **2913156634** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 7401979 |
| Distributions to shareholders |  | 1593425 |
| Investments bought |  | 1050153 |
| Investment adviser and administrator fees |  | 379061 |
| Shareholder service fees |  | 25141 |
| Independent trustees' fees |  | 179 |
| Accrued expenses | + | 162639 |
| **Total liabilities** |  | **10612577** |
| **Net assets** |  | **$2902544057** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $2902544057 |
| **Net assets** |  | **$2902544057** |

---

&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 | $1054173880 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1053965520 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |
| Ultra Shares | $1848370177 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1848090969 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

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

------

Schwab New York Municipal Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$84150822** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 4780523 |
| Shareholder service fees: |  |  |
| Investor Shares |  | 1471626 |
| Registration fees |  | 147117 |
| Portfolio accounting fees |  | 110876 |
| Independent trustees' fees |  | 47161 |
| Professional fees |  | 37949 |
| Custodian fees |  | 17419 |
| Shareholder reports |  | 15050 |
| Transfer agent fees  |  | 1320 |
| Other expenses | + | 19004 |
| **Total expenses** |  | **6648045** |
| Expense reduction | – | 395187 |
| **Net expenses** | – | **6252858** |
| **Net investment income** |  | **77897964** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **108928** |
| **Increase in net assets resulting from operations** |  | **$78006892** |

---

*See financial notes*

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**37**

------

Schwab New York Municipal Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $77897964 | &nbsp;&nbsp;&nbsp; $65521877 |
| Net realized gains | + | 108928 | &nbsp;&nbsp;&nbsp; 32681 |
| **Increase in net assets from operations** |  | **$78006892** | &nbsp;&nbsp;&nbsp; **$65554558** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| Investor Shares |  | ($29518677)<br>| &nbsp;&nbsp;&nbsp; ($25905622)<br>|
| Ultra Shares | + | (48449872)<br>| &nbsp;&nbsp;&nbsp; (39615836)<br>|
| **Total distributions** |  | **($77968549)**<br>| &nbsp;&nbsp;&nbsp; **($65521458)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| **Shares Sold** |  |  |  |
| Investor Shares |  | 1290573712 | &nbsp;&nbsp;&nbsp; 1490519963 |
| Ultra Shares | + | 2487149695 | &nbsp;&nbsp;&nbsp; 2918814507 |
| **Total shares sold** |  | **3777723407** | &nbsp;&nbsp;&nbsp; **4409334470** |
| **Shares Reinvested** |  |  |  |
| Investor Shares |  | 23280795 | &nbsp;&nbsp;&nbsp; 20861277 |
| Ultra Shares | + | 36261426 | &nbsp;&nbsp;&nbsp; 31572272 |
| **Total shares reinvested** |  | **59542221** | &nbsp;&nbsp;&nbsp; **52433549** |
| **Shares Redeemed** |  |  |  |
| Investor Shares |  | (1248669663)<br>| &nbsp;&nbsp;&nbsp; (1224542428)<br>|
| Ultra Shares | + | (2069533249)<br>| &nbsp;&nbsp;&nbsp; (2613427831)<br>|
| **Total shares redeemed** |  | **(3318202912)**<br>| &nbsp;&nbsp;&nbsp; **(3837970259)**<br>|
| **Net transactions in fund shares** |  | **519062716** | &nbsp;&nbsp;&nbsp; **623797760** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $2383442998 | &nbsp;&nbsp;&nbsp; $1759612138 |
| Total increase | + | 519101059 | &nbsp;&nbsp;&nbsp; 623830860 |
| **End of period** |  | **$2902544057** | &nbsp;&nbsp;&nbsp; **$2383442998** |

---

&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*

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

------

Schwab Municipal Money Funds

Financial Notes

------

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

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

In this reporting period, the funds adopted FASB Accounting Standards Update 2023-07, ASC Topic 280 Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of operations. An operating segment is defined in Topic 280 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, subscriptions and redemptions), 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.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**39**

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

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

**(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.

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 December 31, 2024, each of the fund's investments were classified as Level 2.

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

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

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

**(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. 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) 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 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.

**(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.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**41**

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

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

**(i) Indemnification:**

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

------

**3. Credit and Liquidity Enhancements:**

A substantial portion of 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 <br> or liquidity enhancements<br>| 75<br> %<br>| &nbsp;&nbsp; 76<br> %<br>|
| % of total assets in securities with credit enhancements <br> or liquidity enhancements 10% or greater from a <br> single institution<br>| 13 %<br>| &nbsp;&nbsp; 13 %<br>|
|  | (Bank of America NA) | (Federal National Mortgage Association) |
|  |  | (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 each fund.

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.

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.

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

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

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

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

---

| | |
|:---|:---|
|  | SHAREHOLDER SERVICING FEE |
| Investor Shares | 0.15<br> %<br>|
| Ultra Shares | n/a |

---

**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 December 31, 2024, 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 | $34455408 | &nbsp;&nbsp; $278081369 | &nbsp;&nbsp; $0 |
| Schwab New York Municipal Money Fund | 71854725 | &nbsp;&nbsp; 33939300 | &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.

Schwab Municipal Money Funds \| Annual Holdings and Financial Statements

**43**

------

Schwab Municipal Money Funds

Financial Notes (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 billion line of credit (the Syndicated Credit Facility), which matured on September 26, 2024. On September 26, 2024, the Syndicated Credit Facility was amended to run for a new 364 day period with the committed line of credit increasing to $1.2 billion, maturing on September 25, 2025. Under the terms of the Syndicated Credit Facility, in addition to 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, which matured on September 26, 2024. On September 26, 2024, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, 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 December 31, 2024, the tax basis cost of the funds' investments were as follows:

---

| | |
|:---|:---|
|  | TAX COST |
| Schwab California Municipal Money Fund | $8928532212 |
| Schwab New York Municipal Money Fund | 2842428791 |

---

As of December 31, 2024, the components of distributable earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | UNDISTRIBUTED <br>ORDINARY <br>INCOME <br>| TOTAL  |
| Schwab California Municipal Money Fund | $3579 | &nbsp;&nbsp; $3579 |
| Schwab New York Municipal Money Fund |  | &nbsp;&nbsp; — |

---

For the fiscal year ended December 31, 2024, the funds had capital loss carryforwards utilized as follows:

---

| | |
|:---|:---|
| Schwab California Municipal Money Fund | $— |
| Schwab New York Municipal Money Fund | 6586 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | CURRENT FISCAL YEAR END DISTRIBUTIONS | CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
|  | TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME<br>| TAX-EXEMPT <br>INCOME <br>| ORDINARY <br>INCOME <br>|
| Schwab California Municipal Money Fund | $246358954 | &nbsp;&nbsp; $279143 | &nbsp;&nbsp; $218781408 | &nbsp;&nbsp; $16250618 |
| Schwab New York Municipal Money Fund | 77884885 | &nbsp;&nbsp; 83664 | &nbsp;&nbsp; 63687403 | &nbsp;&nbsp; 1834055 |

---

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

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

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

------

Schwab Municipal Money Funds

Financial Notes (continued)

------

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

**7. Federal Income Taxes (continued):** 

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 \| Annual Holdings and Financial Statements

**45**

------

Schwab Municipal Money Funds

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab California Municipal Money Fund and Schwab New York Municipal Money Fund:

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

We have audited the accompanying statements of assets and liabilities, including the portfolio holdings, of Schwab California Municipal Money Fund and Schwab New York Municipal Money Fund, (the "Funds") two of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2024, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds constituting The Charles Schwab Family of Funds as of December 31, 2024, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 14, 2025

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

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

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g21476img7bb5a2e41.jpg)

MFR13859-28

00308806

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g296469imgf088a7b51.jpg)

**Annual Holdings and Financial Statements** \| December 31, 2024

Schwab Retirement Government Money Fund

------

**In This Report**

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

---

| | |
|:---|:---|
| [Financial Statements and Portfolio Holdings](#xx_d26bc02e-8324-4f7b-8f3d-6f3ac5551a8a_1) | 2 |
| [Financial Notes](#xx_a86456d9-b7dd-4f14-991c-588ed216727b_1) | 17 |
| [Report of Independent Registered Public Accounting Firm](#xx_b9fbc272-b828-4cfe-922c-730eea73f15c_1) | 22  |

---

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 \| Annual Holdings and Financial Statements

**1**

------

Schwab Retirement Government Money Fund

Financial Statements

**FINANCIAL HIGHLIGHTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 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** |
| Net asset value at beginning of period | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 | &nbsp;&nbsp; $1.00 |
| Income (loss) from investment operations: |  |  |  |  |  |
| Net investment income (loss)<sup>1</sup> <br>| 0.05 | 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>|
| Total from investment operations | 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; (0.05)<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; (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; (0.05)<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 |
| Total return | 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 to average net assets: |  |  |  |  |  |
| Net expenses | 0.19<br> %<br>| 0.19<br> %<br>| 0.17 %<sup>3,4</sup><br>| 0.07 %<sup>4</sup><br>| 0.18 %<sup>4</sup><br>|
| Total expenses | 0.21<br> %<br>| 0.21<br> %<br>| 0.21 %<sup>3</sup><br>| 0.21<br> %<br>| 0.31<br> %<br>|
| Net investment income (loss) | 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; $2184 | &nbsp;&nbsp; $1947 | &nbsp;&nbsp; $1661 | &nbsp;&nbsp; $1610 | &nbsp;&nbsp; $1804 |

---

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

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

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

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

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

*See financial notes*

**2**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024

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For fixed rate securities, the rate shown is the coupon rate (the rate established when the security was issued) and if the coupon rate is not available, 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** 35.5% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 35.5% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 35.5% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 35.5% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 35.5% OF NET ASSETS | **U.S. GOVERNMENT AGENCY DEBT** 35.5% OF NET ASSETS |
| **FEDERAL FARM CREDIT BANKS FUNDING CORP** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 11500000 | &nbsp;&nbsp; 11495501 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6600000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 02/04/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3984160 |
|  | &nbsp;&nbsp; 4.92% |  | &nbsp;&nbsp; 02/06/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1493000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 02/11/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2886080 |
|  | &nbsp;&nbsp; 5.02% |  | &nbsp;&nbsp; 02/21/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1489833 |
|  | &nbsp;&nbsp; 4.73% |  | &nbsp;&nbsp; 03/03/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1488500 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp; 4.65% |  | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1384497 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 04/04/25 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 599890 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1482583 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1383830 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 04/15/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1383177 |
|  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2073111 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2800000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp; 9300000 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 690122 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/20/25 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5100000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 982723 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 687161 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1373825 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 784853 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/11/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1371106 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 06/25/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 999353 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1953333 |
| <br>(3 mo. US TBILL + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| <br>(SOFR + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.54% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5200000 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000517 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/07/25 | &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; 695654 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &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; 1499256 |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**3**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 0.68% |  | &nbsp;&nbsp; 08/04/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 880621 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 08/11/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1461970 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 08/13/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1998504 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &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; 1698813 |
| <br>(EFFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/15/25 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3400000 |
| <br>(EFFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(EFFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/26/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/06/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5601781 |
|  | &nbsp;&nbsp; 5.13% |  | &nbsp;&nbsp; 10/10/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4124086 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &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; 704279 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/21/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6800000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/29/25 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5001410 |
| <br>(EFFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/10/25 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300837 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/28/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>(SOFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/22/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.07%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/25 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/30/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(EFFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/08/26 | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 6300000 |
| <br>(SOFR + 0.08%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/28/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/11/26 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1100000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/01/26 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/17/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/05/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5600000 |
| <br>(EFFR + 0.09%)<br> *(a)* | &nbsp;&nbsp; 4.42% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3300000 |
| <br>(EFFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/26 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4800000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4500000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>(SOFR + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.50% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/23/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/03/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500000 |
| <br>(SOFR + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/30/26 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 10000000 |
| **FEDERAL HOME LOAN BANKS** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1700000 |
|  | &nbsp;&nbsp; 5.15% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1600000 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 01/03/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4099478 |
|  | &nbsp;&nbsp; 4.76% |  | &nbsp;&nbsp; 01/10/25 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6593334 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/13/25 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3800000 |
|  | &nbsp;&nbsp; 4.77% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp; 11599882 |
|  | &nbsp;&nbsp; 4.80% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4899958 |
|  | &nbsp;&nbsp; 4.91% |  | &nbsp;&nbsp; 01/23/25 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4088783 |
|  | &nbsp;&nbsp; 5.20% |  | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5678582 |
|  | &nbsp;&nbsp; 5.21% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp; 6573310 |

---

*See financial notes*

**4**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.90% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4877117 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/07/25 | &nbsp;&nbsp; 10900000 | &nbsp;&nbsp; 10847680 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4874732 |
|  | &nbsp;&nbsp; 5.04% |  | &nbsp;&nbsp; 02/10/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3581280 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 02/13/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4872817 |
|  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4277144 |
|  | &nbsp;&nbsp; 5.05% |  | &nbsp;&nbsp; 02/14/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6462695 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 02/18/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp; 4.79% |  | &nbsp;&nbsp; 02/27/25 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1091992 |
|  | &nbsp;&nbsp; 4.82% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4268001 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/05/25 | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 10213966 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/06/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
|  | &nbsp;&nbsp; 4.50% |  | &nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3571680 |
| <br>(SOFR + 0.05%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/10/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3200000 |
|  | &nbsp;&nbsp; 4.63% |  | &nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699461 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 5800000 |
|  | &nbsp;&nbsp; 4.81% |  | &nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2971140 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7133716 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/21/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3661280 |
|  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5641725 |
|  | &nbsp;&nbsp; 4.99% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5832785 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 03/28/25 | &nbsp;&nbsp; 7400000 | &nbsp;&nbsp; 7315609 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 04/01/25 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6617181 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/03/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/08/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
|  | &nbsp;&nbsp; 4.59% |  | &nbsp;&nbsp; 04/11/25 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp; 5531316 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 6465000 | &nbsp;&nbsp; 6382009 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| <br>(SOFR + 0.01%)<br> *(a)* | &nbsp;&nbsp; 4.38% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/16/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5630674 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/21/25 | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2700000 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 04/23/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4824685 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
|  | &nbsp;&nbsp; 4.67% |  | &nbsp;&nbsp; 05/01/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3152294 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/02/25 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6307067 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/05/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/08/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3500000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/13/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5500000 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3444787 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp; 9500000 |
|  | &nbsp;&nbsp; 5.18% |  | &nbsp;&nbsp; 05/21/25 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3237311 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5606123 |
| <br>(SOFR + 0.04%)<br> *(a)* | &nbsp;&nbsp; 4.41% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/27/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**5**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 982383 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/02/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  | &nbsp;&nbsp; 5.15% |  | &nbsp;&nbsp; 06/04/25 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 293765 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3536063 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/06/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3600000 |
|  | &nbsp;&nbsp; 4.24% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3534351 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 06/09/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3534430 |
|  | &nbsp;&nbsp; 3.13% |  | &nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 991510 |
|  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2942423 |
|  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 12900000 | &nbsp;&nbsp; 12657588 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7058040 |
|  | &nbsp;&nbsp; 4.22% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4309864 |
|  | &nbsp;&nbsp; 4.30% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7044132 |
|  | &nbsp;&nbsp; 5.17% |  | &nbsp;&nbsp; 07/07/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900000 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3201674 |
|  | &nbsp;&nbsp; 4.21% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5772175 |
|  | &nbsp;&nbsp; 4.23% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 978203 |
| <br>(SOFR + 0.03%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 6400000 | &nbsp;&nbsp; 6400000 |
|  | &nbsp;&nbsp; 5.24% |  | &nbsp;&nbsp; 07/11/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp; 4.27% |  | &nbsp;&nbsp; 07/18/25 | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 4788454 |
|  | &nbsp;&nbsp; 4.83% |  | &nbsp;&nbsp; 07/23/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 681893 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/28/25 | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3700000 |
|  | &nbsp;&nbsp; 4.13% |  | &nbsp;&nbsp; 08/07/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3599570 |
| <br>(SOFR + 0.06%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/19/25 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2900280 |
| <br>(SOFR + 0.16%)<br> *(a)* | &nbsp;&nbsp; 4.53% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/22/25 | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp; 5400000 |
| <br>(SOFR + 0.02%)<br> *(a)* | &nbsp;&nbsp; 4.39% | &nbsp;&nbsp; 01/02/25 | &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; 1395997 |
|  | &nbsp;&nbsp; 4.29% |  | &nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 679584 |
|  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 10/09/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2796456 |
|  | &nbsp;&nbsp; 4.61% |  | &nbsp;&nbsp; 12/05/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
|  | &nbsp;&nbsp; 4.40% |  | &nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4197489 |
|  | &nbsp;&nbsp; 4.48% |  | &nbsp;&nbsp; 01/06/26 | &nbsp;&nbsp; 7200000 | &nbsp;&nbsp; 7200000 |
|  | &nbsp;&nbsp; 4.38% |  | &nbsp;&nbsp; 01/30/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/10/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/21/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| <br>(SOFR + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.55% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/18/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/24/26 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/08/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| <br>(SOFR + 0.19%)<br> *(a)* | &nbsp;&nbsp; 4.56% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/23/26 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2200000 |
| **FEDERAL HOME LOAN MORTGAGE CORPORATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/16/25 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5091452 |
|  | &nbsp;&nbsp; 4.58% |  | &nbsp;&nbsp; 01/17/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7086628 |
|  | &nbsp;&nbsp; 4.56% |  | &nbsp;&nbsp; 01/30/25 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7075178 |
|  | &nbsp;&nbsp; 4.57% |  | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1992750 |
|  | &nbsp;&nbsp; 3.40% |  | &nbsp;&nbsp; 05/23/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 697652 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6639707 |
|  | &nbsp;&nbsp; 4.05% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2193624 |
|  | &nbsp;&nbsp; 4.20% |  | &nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 697802 |

---

*See financial notes*

**6**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 09/23/25 | &nbsp;&nbsp; 15100000 | &nbsp;&nbsp; 14717320 |
|  | &nbsp;&nbsp; 0.60% |  | &nbsp;&nbsp; 10/20/25 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 876242 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 03/05/26 | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4600000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/02/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.11%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 05/07/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/04/26 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1800000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 09/23/26 | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3900000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2100000 |
| **FEDERAL NATIONAL MORTGAGE ASSOCIATION** |  |  |  |  |  |
|  | &nbsp;&nbsp; 1.63% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1399408 |
|  | &nbsp;&nbsp; 4.55% |  | &nbsp;&nbsp; 01/29/25 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4285520 |
|  | &nbsp;&nbsp; 0.50% |  | &nbsp;&nbsp; 06/17/25 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6378027 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 08/25/25 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 684034 |
|  | &nbsp;&nbsp; 0.54% |  | &nbsp;&nbsp; 10/27/25 | &nbsp;&nbsp; 5380000 | &nbsp;&nbsp; 5219642 |
| <br>(SOFR + 0.10%)<br> *(a)* | &nbsp;&nbsp; 4.47% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 |
| <br>(SOFR + 0.12%)<br> *(a)* | &nbsp;&nbsp; 4.49% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/29/26 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1300000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 08/21/26 | &nbsp;&nbsp; 7100000 | &nbsp;&nbsp; 7100000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1500000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11/20/26 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4000000 |
| <br>(SOFR + 0.14%)<br> *(a)* | &nbsp;&nbsp; 4.51% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12/11/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000000 |
| **Total U.S. Government Agency Debt** <br>**(Cost $773,927,270)**<br>|  |  |  |  | &nbsp;&nbsp; **773927270** |
| **U.S. TREASURY DEBT** 8.8% OF NET ASSETS | **U.S. TREASURY DEBT** 8.8% OF NET ASSETS | **U.S. TREASURY DEBT** 8.8% OF NET ASSETS | **U.S. TREASURY DEBT** 8.8% OF NET ASSETS | **U.S. TREASURY DEBT** 8.8% OF NET ASSETS | **U.S. TREASURY DEBT** 8.8% OF NET ASSETS |
| **UNITED STATES TREASURY** |  |  |  |  |  |
| <br>(3 mo. US TBILL + 0.20%)<br> *(a)* | &nbsp;&nbsp; 4.48% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/25 | &nbsp;&nbsp; 16400000 | &nbsp;&nbsp; 16401204 |
|  | &nbsp;&nbsp; 1.13% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2485345 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2391591 |
|  | &nbsp;&nbsp; 1.75% |  | &nbsp;&nbsp; 03/15/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2384800 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp; 15400000 | &nbsp;&nbsp; 15358449 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1970189 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 12800000 | &nbsp;&nbsp; 12754974 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.44% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp; 11601728 |
|  | &nbsp;&nbsp; 2.13% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 8600000 | &nbsp;&nbsp; 8509357 |
|  | &nbsp;&nbsp; 2.75% |  | &nbsp;&nbsp; 05/15/25 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp; 6054358 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 05/31/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1471966 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6666690 |
| <br>(3 mo. US TBILL + 0.13%)<br> *(a)* | &nbsp;&nbsp; 4.40% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 17200000 | &nbsp;&nbsp; 17198593 |
|  | &nbsp;&nbsp; 4.75% |  | &nbsp;&nbsp; 07/31/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3504884 |
|  | &nbsp;&nbsp; 2.00% |  | &nbsp;&nbsp; 08/15/25 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3452160 |
|  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 09/04/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1165945 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3495653 |
|  | &nbsp;&nbsp; 5.00% |  | &nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3619199 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 10/15/25 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2399847 |
|  | &nbsp;&nbsp; 0.25% |  | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4256371 |
| <br>(3 mo. US TBILL + 0.17%)<br> *(a)* | &nbsp;&nbsp; 4.45% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp; 12094465 |
|  | &nbsp;&nbsp; 2.25% |  | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1474435 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 8900000 | &nbsp;&nbsp; 8594650 |
|  | &nbsp;&nbsp; 0.38% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 12800000 | &nbsp;&nbsp; 12320391 |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**7**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Issuer | Rate | Effective<br> Maturity<br>| Maturity<br> Date<br>| Face<br> Amount ($)<br>| Value ($) |
|  | &nbsp;&nbsp; 2.63% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5018487 |
|  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6700573 |
|  | &nbsp;&nbsp; 3.88% |  | &nbsp;&nbsp; 01/15/26 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3187715 |
| <br>(3 mo. US TBILL + 0.25%)<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 01/31/26 | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 12414556 |
| <br>(3 mo. US TBILL + 0.15%)<br> *(a)* | &nbsp;&nbsp; 4.43% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/30/26 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500041 |
| <br>(3 mo. US TBILL + 0.18%)<br> *(a)* | &nbsp;&nbsp; 4.46% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 07/31/26 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3499767 |
| **Total U.S. Treasury Debt** <br>**(Cost $192,948,383)**<br>|  |  |  |  | &nbsp;&nbsp; **192948383** |
| **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>*(b)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3100000 |
| **RIVERSIDE HOME LENDING** |  |  |  |  |  |
| TAXABLE S/F RENTAL HOUSING RB SERIES 2021A (**LOC**: FEDERAL <br> HOME LOAN BANKS) <br>*(b)* | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 4200000 |
| **Total Variable Rate Demand Notes** <br>**(Cost $7,300,000)**<br>|  |  |  |  | &nbsp;&nbsp; **7300000** |

---

&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** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS | **REPURCHASE AGREEMENTS** 57.1% OF NET ASSETS |
| **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** | **U.S. GOVERNMENT AGENCY REPURCHASE AGREEMENTS\* 21.0%** |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 11002726 | &nbsp;&nbsp; 11000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $11,330,000, 2.00% - 5.00%, due 06/01/36 - 09/01/52)<br>|  |  |  |  |  |  |
| **BANK OF MONTREAL** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000248 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,255, 6.00%, due 05/01/54)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5001239 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $5,151,277, 3.50% - 6.50%, due 10/01/38 - 09/20/54)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16014093 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $16,494,603, 3.50% - 7.00%, due <br> 02/15/37 - 11/15/59)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 12002973 | &nbsp;&nbsp; 12000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $12,360,000, 1.12% - 13.28%, due 02/25/25 - 08/25/51)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14003469 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $14,420,000, 2.40% - 6.05%, due 11/25/36 - 05/20/73)<br>|  |  |  |  |  |  |

---

*See financial notes*

**8**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000743 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $3,076,506, 0.13% - 7.00%, due 02/28/25 - <br> 12/01/54)<br>|  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15034200 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $15,329,983, 0.13% - 7.00%, due <br> 04/15/25 - 10/20/74)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 10/23/24, repurchase date 01/21/25 |  | &nbsp;&nbsp; 4.70% |  | &nbsp;&nbsp; 01/21/25 | &nbsp;&nbsp; 5058750 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury Securities valued at $5,100,033, <br> 1.88%, due 02/15/32)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000248 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,298, <br> 2.25%, due 08/15/27)<br>|  |  |  |  |  |  |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 10002478 | &nbsp;&nbsp; 10000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $10,259,269, 0.00% - 7.83%, due <br> 01/07/25 - 12/25/54)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 40009911 | &nbsp;&nbsp; 40000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $41,200,001, 2.00% - 6.50%, due 06/01/43 - 06/01/54)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 15003717 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,450,001, 4.00%, due 02/16/64)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.53% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16014093 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $16,320,001, 1.63% - 6.50%, due <br> 08/15/29 - 12/20/54)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 16013596 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $16,320,000, 2.00% - 6.50%, due 02/15/40 - 12/20/54)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.43% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 16013782 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $16,320,106, 0.25%, due 07/15/29)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.44% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 27023310 | &nbsp;&nbsp; 27000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $27,540,001, 2.40% - 6.50%, due <br> 06/30/29 - 04/20/64)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000247 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $1,030,000, 3.00% - 4.50%, due 08/20/47 - 11/20/54)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 59014619 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $60,770,000, 2.00% - 7.50%, due 01/15/33 - 10/20/64)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**9**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| ISSUER | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 10/01/24, repurchase date 04/09/25<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 15354067 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $15,450,000, 0.00% - 5.75%, due 09/25/35 - 11/20/54) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| Issued 10/22/24, repurchase date 04/30/25<br> *(a)* | &nbsp;&nbsp; 4.52% | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 04/07/25 | &nbsp;&nbsp; 32670969 | &nbsp;&nbsp; 32000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $32,960,000, 0.00% - 6.00%, due 12/25/26 - 05/25/54) <br>(SOFR + 0.15%)<br>|  |  |  |  |  |
| **MIZUHO SECURITIES USA LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000991 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury Securities valued at $4,080,096, <br> 4.88%, due 10/31/28)<br>|  |  |  |  |  |
| **NOMURA SECURITIES INTERNATIONAL INC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000743 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,063,069, <br> 1.00% - 4.13%, due 09/30/27 - 02/15/46)<br>|  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/30/25 | &nbsp;&nbsp; 4.32% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 59127440 | &nbsp;&nbsp; 59000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $61,006,329, 0.25% - 7.00%, due <br> 09/30/25 - 08/20/63)<br>|  |  |  |  |  |
| Issued 12/24/24, repurchase date 01/07/25 | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 5008497 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury and U.S. Government Agency <br> Securities valued at $5,158,731, 2.50% - 6.50%, due 06/30/29 - <br> 12/20/54)<br>|  |  |  |  |  |
| **ROYAL BANK OF CANADA** |  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/31/25 | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15032475 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $15,377,329, 2.00% - 2.50%, due 11/15/41 - 05/15/46)<br>|  |  |  |  |  |
| Issued 12/20/24, repurchase date 01/29/25 | &nbsp;&nbsp; 4.33% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 7015155 | &nbsp;&nbsp; 7000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $7,244,784, 2.70% - 7.24%, due 02/25/26 - 11/01/54)<br>|  |  |  |  |  |
| **TRUIST BANK** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.26% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 14003313 | &nbsp;&nbsp; 14000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $14,420,000, 2.00%, due 08/01/51 - 12/01/51)<br>|  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5001239 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $5,150,000, 1.50%, due 12/01/50)<br>|  |  |  |  |  |
| **WELLS FARGO SECURITIES LLC** |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000743 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $3,120,773, 4.50%, due 01/20/49)<br>|  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 | &nbsp;&nbsp; 4.37% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 13011047 | &nbsp;&nbsp; 13000000 |
| (Collateralized by U.S. Government Agency Securities valued at <br> $13,531,488, 2.50%, due 08/01/51)<br>|  |  |  |  |  |
|  |  |  |  |  | &nbsp;&nbsp; **458000000** |

---

*See financial notes*

**10**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** | **U.S. TREASURY REPURCHASE AGREEMENTS 36.1%** |
| **BANCO BILBAO VIZCAYA ARGENTARIA SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8001978 | &nbsp;&nbsp; 8000000 |
| (Collateralized by U.S. Treasury Securities valued at $8,160,099, <br> 0.13% - 0.75%, due 01/15/27 - 01/15/31)<br>|  |  |  |  |  |  |
| **BANCO SANTANDER SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 5001236 | &nbsp;&nbsp; 5000000 |
| (Collateralized by U.S. Treasury Securities valued at $5,100,077, <br> 4.63%, due 05/15/44)<br>|  |  |  |  |  |  |
| **BARCLAYS BANK PLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 4000989 | &nbsp;&nbsp; 4000000 |
| (Collateralized by U.S. Treasury Securities valued at $4,081,037, <br> 1.13% - 4.38%, due 02/15/26 - 08/15/45)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1589988 | &nbsp;&nbsp; 1589595 |
| (Collateralized by U.S. Treasury Securities valued at $1,621,830, <br> 0.00% - 4.63%, due 04/15/25 - 05/15/54)<br>|  |  |  |  |  |  |
| **BNP PARIBAS SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 9002225 | &nbsp;&nbsp; 9000000 |
| (Collateralized by U.S. Treasury Securities valued at $9,182,362, <br> 0.63% - 4.25%, due 02/28/29 - 02/15/40)<br>|  |  |  |  |  |  |
| **BOFA SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 16003955 | &nbsp;&nbsp; 16000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $16,320,080, 4.38%, due 07/15/27)<br>|  |  |  |  |  |  |
| **CANADIAN IMPERIAL BANK OF COMMERCE** |  |  |  |  |  |  |
| Issued 12/19/24, repurchase date 01/30/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 49111461 | &nbsp;&nbsp; 49000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $49,980,017, 0.13% - 4.48%, due 01/15/26 - 08/15/33)<br>|  |  |  |  |  |  |
| Issued 12/23/24, repurchase date 01/23/25 |  | &nbsp;&nbsp; 4.31% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 1001796 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,030, <br> 0.13% - 2.63%, due 04/15/25 - 07/15/32)<br>|  |  |  |  |  |  |
| **CITIGROUP GLOBAL MARKETS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 27006675 | &nbsp;&nbsp; 27000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $27,540,025, 4.50%, due 11/15/33)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 81071190 | &nbsp;&nbsp; 81000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $82,620,086, 1.25% - 2.38%, due 04/30/26 - 09/30/28)<br>|  |  |  |  |  |  |
| **CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000247 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,298, <br> 2.25%, due 08/15/27)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 1000247 | &nbsp;&nbsp; 1000000 |
| (Collateralized by U.S. Treasury Securities valued at $1,020,298, <br> 2.25%, due 08/15/27)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 23019499 | &nbsp;&nbsp; 23000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $23,479,970, 1.50%, due 08/15/26)<br>|  |  |  |  |  |  |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**11**

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| **DAIWA CAPITAL MARKETS AMERICA INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 2000494 | &nbsp;&nbsp; 2000000 |
| (Collateralized by U.S. Treasury Securities valued at $2,040,040, <br> 0.13% - 4.63%, due 09/30/25 - 01/15/33)<br>|  |  |  |  |  |  |
| **FEDERAL RESERVE BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.25% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 168039667 | &nbsp;&nbsp; 168000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $168,039,682, 3.88%, due 08/15/40)<br>|  |  |  |  |  |  |
| **FICC - BANK OF NEW YORK** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 61015080 | &nbsp;&nbsp; 61000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $62,220,011, 0.75%, due 07/15/28)<br>|  |  |  |  |  |  |
| **FICC - STATE STREET BANK AND TRUST CO** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.46% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 48011893 | &nbsp;&nbsp; 48000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $48,960,156, 1.38%, due 07/15/33)<br>|  |  |  |  |  |  |
| **GOLDMAN SACHS & CO LLC** |  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 23020214 | &nbsp;&nbsp; 23000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $23,460,015, 3.88%, due 05/15/43)<br>|  |  |  |  |  |  |
| Issued 12/26/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.52% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 21018457 | &nbsp;&nbsp; 21000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $21,420,007, 4.63%, due 09/15/26)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.35% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 12010150 | &nbsp;&nbsp; 12000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $12,240,009, 1.25% - 4.63%, due 06/30/25 - 11/15/54)<br>|  |  |  |  |  |  |
| Issued 12/30/24, repurchase date 01/06/25 |  | &nbsp;&nbsp; 4.36% |  | &nbsp;&nbsp; 01/06/25 | &nbsp;&nbsp; 36030520 | &nbsp;&nbsp; 36000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $36,720,022, 0.00%, due 08/07/25)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/07/25 |  | &nbsp;&nbsp; 4.42% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 60051567 | &nbsp;&nbsp; 60000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $61,200,085, 3.75%, due 08/31/26)<br>|  |  |  |  |  |  |
| **JP MORGAN SECURITIES LLC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 48011867 | &nbsp;&nbsp; 48000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $48,960,005, 2.50% - 4.25%, due 01/31/25 - 08/15/54)<br>|  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 58014339 | &nbsp;&nbsp; 58000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $59,160,014, 0.00% - 4.63%, due 01/07/25 - 10/15/29)<br>|  |  |  |  |  |  |
| **MUFG SECURITIES AMERICAS INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 8001978 | &nbsp;&nbsp; 8000000 |
| (Collateralized by U.S. Treasury Securities valued at $8,160,000, <br> 2.00% - 6.63%, due 07/15/25 - 02/15/44)<br>|  |  |  |  |  |  |
| **RBC DOMINION SECURITIES INC** |  |  |  |  |  |  |
| Issued 12/31/24, repurchase date 01/02/25 |  | &nbsp;&nbsp; 4.45% |  | &nbsp;&nbsp; 01/02/25 | &nbsp;&nbsp; 3000742 | &nbsp;&nbsp; 3000000 |
| (Collateralized by U.S. Treasury Securities valued at $3,060,774, <br> 0.13% - 4.25%, due 10/15/25 - 02/15/46)<br>|  |  |  |  |  |  |

---

*See financial notes*

**12**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Portfolio Holdings as of December 31, 2024 (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ISSUER | FOOTNOTES | RATE | EFFECTIVE<br> MATURITY<br>| MATURITY<br> DATE<br>| MATURITY<br> AMOUNT ($)<br>| VALUE ($) |
| Issued 12/09/24, repurchase date 01/08/25 |  | &nbsp;&nbsp; 4.51% |  | &nbsp;&nbsp; 01/07/25 | &nbsp;&nbsp; 15054496 | &nbsp;&nbsp; 15000000 |
| (Collateralized by U.S. Treasury Securities valued at <br> $15,357,577, 0.25% - 4.63%, due 07/31/26 - 07/15/33)<br>|  |  |  |  |  |  |
|  |  |  |  |  |  | &nbsp;&nbsp; **789589595** |
| **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | **Total Repurchase Agreements** <br>**(Cost $1,247,589,595)** | &nbsp;&nbsp; **1247589595** |
| **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | **Total Investments in Securities** <br>**(Cost $2,221,765,248)** | &nbsp;&nbsp; **2221765248** |

---

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

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

---

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

---

------

At December 31, 2024, 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 \| Annual Holdings and Financial Statements

**13**

------

Schwab Retirement Government Money Fund

Statement of Assets and Liabilities

------

As of December 31, 2024

---

| | | |
|:---|:---|:---|
| **Assets** | **Assets** | **Assets** |
| Investments in securities, at cost and value - unaffiliated issuers (Note 2a) |  | $974175653 |
| Repurchase agreements, at cost and value — unaffiliated issuers (Note 2a) |  | 1247589595 |
| Receivables: |  |  |
| Interest |  | 5547176 |
| Fund shares sold |  | 43828 |
| Prepaid expenses | + | 11496 |
| **Total assets** |  | **2227367748** |
| **Liabilities** | **Liabilities** | **Liabilities** |
| Payables: |  |  |
| Fund shares redeemed |  | 29928043 |
| Investments bought |  | 8165004 |
| Distributions to shareholders |  | 5224859 |
| Investment adviser and administrator fees |  | 299386 |
| Independent trustees' fees |  | 178 |
| Accrued expenses | + | 152658 |
| **Total liabilities** |  | **43770128** |
| **Net assets** |  | **$2183597620** |
| **Net Assets by Source** | **Net Assets by Source** | **Net Assets by Source** |
| Capital received from investors |  | $2183597620 |
| **Net assets** |  | **$2183597620** |

---

&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** |
| $2183597620 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2183594880 |  | &nbsp;&nbsp;&nbsp;&nbsp; $1.00 |

---

*See financial notes*

**14**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Statement of Operations

------

---

| | | |
|:---|:---|:---|
| For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 | For the period January 1, 2024 through December 31, 2024 |
| **Investment Income**  | **Investment Income**  | **Investment Income**  |
| **Interest received from securities - unaffiliated issuers** |  | **$108059416** |
| **Expenses** | **Expenses** | **Expenses** |
| Investment adviser and administrator fees |  | 3948137 |
| Portfolio accounting fees |  | 96628 |
| Registration fees |  | 72178 |
| Custodian fees |  | 56315 |
| Independent trustees' fees |  | 46818 |
| Professional fees |  | 42377 |
| Shareholder reports |  | 11402 |
| Transfer agent fees  |  | 1389 |
| Other expenses | + | 14454 |
| **Total expenses** |  | **4289698** |
| Expense reduction | – | 341542 |
| **Net expenses** | – | **3948156** |
| **Net investment income** |  | **104111260** |
| **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** | **REALIZED GAINS (LOSSES)** |
| **Net realized gains on sales of securities - unaffiliated issuers**  |  | **13640** |
| **Increase in net assets resulting from operations** |  | **$104124900** |

---

*See financial notes*

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**15**

------

Schwab Retirement Government Money Fund

Statement of Changes in Net Assets

------

For the current and prior report periods

---

| | | | |
|:---|:---|:---|:---|
| **OPERATIONS** | **OPERATIONS** | **OPERATIONS** | **OPERATIONS** |
|  | 1/1/24-12/31/24 | 1/1/24-12/31/24 | 1/1/23-12/31/23 |
| Net investment income |  | $104111260 | &nbsp;&nbsp;&nbsp; $88262956 |
| Net realized gains | + | 13640 | &nbsp;&nbsp;&nbsp; 15244 |
| **Increase in net assets from operations** |  | **$104124900** | &nbsp;&nbsp;&nbsp; **$88278200** |
| **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** | **DISTRIBUTIONS TO SHAREHOLDERS** |
| **Total distributions** |  | **($104124380)**<br>| &nbsp;&nbsp;&nbsp; **($88277273)**<br>|
| **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** | **TRANSACTIONS IN FUND SHARES\*** |
| Shares sold |  | 645166474 | &nbsp;&nbsp;&nbsp; 609494467 |
| Shares reinvested |  | 38296448 | &nbsp;&nbsp;&nbsp; 33322800 |
| Shares redeemed | + | (447007985)<br>| &nbsp;&nbsp;&nbsp; (356730840)<br>|
| **Net transactions in fund shares** |  | **236454937** | &nbsp;&nbsp;&nbsp; **286086427** |
| **NET ASSETS** | **NET ASSETS** | **NET ASSETS** | **NET ASSETS** |
| Beginning of period |  | $1947142163 | &nbsp;&nbsp;&nbsp; $1661054809 |
| Total increase | + | 236455457 | &nbsp;&nbsp;&nbsp; 286087354 |
| **End of period** |  | **$2183597620** | &nbsp;&nbsp;&nbsp; **$1947142163** |

---

&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 \| Annual Holdings and Financial Statements

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Schwab Retirement Government Money Fund

Financial Notes

------

&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 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 Value 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).

In this reporting period, the fund adopted FASB Accounting Standards Update 2023-07, ASC Topic 280 Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect the fund's financial position or the results of operations. An operating segment is defined in Topic 280 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, subscriptions and redemptions), 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.

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**17**

------

Schwab Retirement Government Money Fund

Financial Notes (continued)

------

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

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

**(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.

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 December 31, 2024, all of the fund's investments were classified as Level 2.

**18**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Financial Notes (continued)

------

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

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

**(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 December 31, 2024, the fund had investments in repurchase agreements with a gross value of $1,247,589,595 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 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.

Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

**19**

------

Schwab Retirement Government Money Fund

Financial Notes (continued)

------

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

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

**(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) 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.

------

**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 fund.

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. This practice is limited to funds that share the same investment adviser. For the period ended December 31, 2024, 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.

------

**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.

**20**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

------

Schwab Retirement Government Money Fund

Financial Notes (continued)

------

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

**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 billion line of credit (the Syndicated Credit Facility), which matured on September 26, 2024. On September 26, 2024, the Syndicated Credit Facility was amended to run for a new 364 day period with the committed line of credit increasing to $1.2 billion, maturing on September 25, 2025. Under the terms of the Syndicated Credit Facility, in addition to 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, which matured on September 26, 2024. On September 26, 2024, the Uncommitted Credit Facility was amended to run for a new 364 day period with the line of credit amount remaining unchanged, 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 December 31, 2024, the tax basis cost of the fund's investments was $2,221,765,248.

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

---

| | |
|:---|:---|
| CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS |
| ORDINARY <br>INCOME<br>| ORDINARY <br>INCOME <br>|
| $104124380 | &nbsp;&nbsp; $88277273 |

---

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.

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

As of December 31, 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 \| Annual Holdings and Financial Statements

**21**

------

Schwab Retirement Government Money Fund

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of The Charles Schwab Family of Funds and Shareholders of Schwab Retirement Government Money Fund:

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

We have audited the accompanying statement of assets and liabilities, including the portfolio holdings, of Schwab Retirement Government Money Fund, (the "Fund") one of the funds constituting The Charles Schwab Family of Funds, as of December 31, 2024, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of December 31, 2024, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

**Deloitte & Touche LLP**

Denver, Colorado

February 14, 2025

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

**22**Schwab Retirement Government Money Fund \| Annual Holdings and Financial Statements

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![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](g296469imgf088a7b51.jpg)

MFR95514-08

00308809

------

#### Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.

#### Item 9: Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.

#### Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The remuneration paid to directors, officers and others are included as part of the report to shareholders filed under Item 7 of this Form.

#### Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.

#### Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

#### Item 13: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

#### Item 14: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

#### Item 15: Submission of Matters to a Vote of Security Holders.
Not applicable.

#### Item 16: Controls and Procedures.
(a) Based on their evaluation of Registrant's disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant's Principal Executive Officer, Omar Aguilar and Registrant's Principal Financial Officer, Dana Smith, have concluded that Registrant's disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant's officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above.

(b) During the period covered by this report, there have been no changes in Registrant's internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant's internal control over financial reporting.

#### Item 17: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

#### Item 18: Recovery of Erroneously Awarded Compensation.
(a) Not applicable.

(b) Not applicable

------

#### Item 19: Exhibits.
(a) (1) [Registrant's code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached.](d921938dex99codeeth.htm)

(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.](d921938dex99cert.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-CSR with the Commission](d921938dex99906cert.htm) .

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) <u>The Charles Schwab Family of Funds</u>

---

| | |
|:---|:---|
| By: | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |
| Date: | February 14, 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.

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| | |
|:---|:---|
| By: | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |
| Date: | February 14, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Dana Smith |
|  | Dana Smith<br> Principal Financial Officer (Chief Financial Officer) |
| Date: | February 14, 2025 |

---

## Ex-99.Code

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

---

**CODE OF BUSINESS CONDUCT AND ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS** 

**SCHWAB FUNDS:** 

THE CHARLES SCHWAB FAMILY OF FUNDS

SCHWAB INVESTMENTS

SCHWAB CAPITAL TRUST

SCHWAB ANNUITY PORTFOLIOS

LAUDUS TRUST

**SCHWAB ETFS:** 

SCHWAB STRATEGIC TRUST

**I. SCOPE** 

This Code of Business Conduct and Ethics (the "Code") for the Schwab Funds and Schwab ETFs (the "Funds") covers the Principal Executive Officer and Principal Financial Officer and any other officers who serve a similar function (each an "Officer") of all of the investment companies within the Funds' complex and applies to their service to the Funds.

**II. INTRODUCTION** 

The Funds are committed to the highest standards of ethical conduct. The Code consists of an outline of policies regarding conduct pertaining to legal compliance, personal conflicts of interest, confidentiality and privacy, and certain business practices. You are responsible for reviewing the Code and for acting in compliance with the Code in your daily activities.

The Code is not exhaustive; it provides guidance for carrying out your responsibilities on behalf of the Funds and observing the highest standards of ethical conduct. Because the Code does not address every possible situation that may arise, you are responsible for exercising good judgment, applying ethical principles, and raising questions when in doubt. Your integrity and good judgment reflect on the Funds' brand and reputation, and are the foundation of trust for our shareholder and business relationships.

If you are unsure of what to do in any situation or how to interpret the provisions of the Code, seek guidance before you act. Use the Funds' resources, including the Chief Legal Officer or the Chief Compliance Officer. If you feel that it is not appropriate to discuss a matter with the Chief Legal Officer or the Chief Compliance Officer, you may contact the Ombudsperson for The Charles Schwab Corporation.

CONTACT INFORMATION

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| | | |
|:---|:---|:---|
| **Title** | **Name** | **Phone Number** |
| Chief Compliance Officer | Mark Hunter | 512-682-7627 |
| Chief Legal Officer of Schwab Funds and Schwab ETFs | Catherine MacGregor | 415-667-0650 |
| The Charles Schwab Corporation Ombudsperson | Amy Pimentel, Esq,<br>McDermott Will & Emery LLP | 617-535-3948 |

---

**III. POLICIES** 

In executing your responsibilities on behalf of the Funds, your conduct should reflect positively on the Funds. A strong personal sense of ethics should always play a significant role in guiding you towards a proper course of action. The appearance of impropriety can be as harmful to the Funds' reputation as improper conduct.

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 1 |

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

---

The Funds' business is subject to various laws, rules and regulations, including federal securities and state and local laws. Although you are not expected to know the details of the myriad of laws governing our business, you are expected to be familiar with and comply with policies and procedures that apply to your business unit and complete any required training that applies to you (e.g., training regarding privacy or anti-money laundering).

A. PERSONAL CONFLICTS OF INTEREST

It is important that you do not place yourself in a position that would cloud your judgment in carrying out the business affairs of the Funds. A "personal conflict of interest" occurs when your private interest interferes in any way — or even appears to interfere — with the interests of the Funds. You have a duty to report any material transaction or relationship to the Chief Compliance Officer that reasonably could be expected to be or to create a conflict of interest with the Funds.

Officers, in addition to their obligation to the Funds, may also be an officer or employee of CSIM or a CSIM affiliate. As a result, this Code recognizes that the Officers will, in the normal course of their duties (whether formally for the Funds, for CSIM, for CSIM's affiliate or for more than one entity), be involved in establishing policies and implementing decisions that will have different effects on CSIM, CSIM's affiliates and the Funds. The participation of the Officers in such activities is inherent in the contractual relationship between the Funds and CSIM and is consistent with the performance by the Officers of their duties as officers of the Funds. Thus, if performed in conformity with the provisions of the Investment Company Act of 1940, as amended (the "1940 Act"), and the Investment Advisers Act of 1940, as amended (the "Advisers Act"), such activities will be deemed under the Code to have been handled ethically. In addition, it is recognized by the Trustees that the Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

B. INSIDE INFORMATION

Do not trade on inside information or disclose inside information to anyone except those who have a need to know it in order to fulfill their responsibilities for the Funds and in accordance with the Funds' policy. This applies to information regarding the Funds, The Charles Schwab Corporation and its subsidiaries, and any other publicly traded company.

Generally, material information is any information that an investor would likely consider important in deciding whether to buy, sell or hold securities or that could affect the market price of the securities. Examples include actual or estimated financial results or change in dividends; significant discoveries or product developments; possible mergers, acquisitions or divestitures; major changes in business strategies; obtaining or losing significant contracts; and threatened major litigation or related developments. If you have or receive information and are unsure whether it is within the definition of inside information or whether its release might be contrary to a fiduciary or other obligation, contact the Chief Compliance Officer prior to disclosing any such information.

You must not use the Funds' non-public holdings or transactions information in any way to influence your trades or the trades of other shareholders, including those of other employees, officers and directors. Trading ahead of shareholder or the Funds' transactions (frontrunning) and following shareholder or the Funds' transactions (piggybacking or shadowing) is prohibited.

C. ACCEPTANCE OF GIFTS OR ENTERTAINMENT

You must not accept gifts or entertainment from shareholders, vendors, suppliers, competitors or other employees where they present a conflict of interest or create the appearance of impropriety. You must adhere to the CSIM and The Charles Schwab Corporation policies regarding gifts and entertainment, and apply the more stringent restrictions. In addition, if you are an employee of another CSIM affiliate you must also adhere to that affiliate's policies regarding gifts and entertainment, and apply the more stringent restrictions.

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 2.0 |

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

---

D. CONFIDENTIALITY OF INFORMATION AND PRIVACY

Information concerning the identity of the Funds' underlying shareholders and their transactions and accounts is confidential. Such information may not be disclosed to persons working on behalf of the Funds except as they may need to know it in order to fulfill their responsibilities to the Funds. You may not disclose such information to anyone or any firm outside the Funds unless (i) the outside firm needs to know the information in order to perform services for the Funds and is bound to maintain its confidentiality; (ii) when the shareholder has consented or been given an opportunity to request that the information not be shared; (iii) as required by law; or (iv) as authorized by the Chief Legal Officer or Chief Compliance Officer.

The Funds are committed to safeguarding their customers' privacy. We do not sell any personally identifiable customer information. Sharing of such information with third parties is limited to situations related to the processing and servicing of customer accounts, and to specifically delineated exceptions in the federal privacy law. We share information with our affiliates to the extent permitted by federal law. You must be familiar with the procedural and systemic safeguards we maintain to protect this information.

You have the responsibility to safeguard the Funds' proprietary information. Proprietary information includes intellectual property (copyrights, trademarks or patents or trade secrets), particular know-how (business or organizational designs, or business, marketing or service plans or ideas) and sensitive information about the Funds (databases, records, salary information or unpublished financial reports).

E. PROTECTION AND USE OF FUNDS' ASSETS

You are obligated to protect the Funds' assets and ensure their efficient use. Theft, carelessness and waste have a direct impact on the Funds. The Funds' equipment should not be used for non-Funds' business, though incidental personal use may be permitted.

F. FINANCIAL DISCLOSURES

The Funds are committed to providing full, fair, accurate, timely and understandable disclosure in reports and documents that the Funds file with, or submit to, the Securities and Exchange Commission and other regulatory agencies and in other public communications made by the Funds. You are required to comply with the Funds' policies and procedures to provide such full, fair, accurate, timely and understandable disclosure.

G. CONDUCT OF AUDITS

Neither you nor any other person acting under your direction shall directly or indirectly take any action to fraudulently influence, coerce, manipulate, or mislead any independent public or certified public accountant engaged in the performance of an audit or review of the Funds' financial statements.

Types of conduct that constitute improper influence include, but are not limited to, directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Offering or paying bribes or other financial incentives, including offering future employment or contracts for non-audit services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing an auditor with inaccurate or misleading legal analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Threatening to cancel or canceling existing non-audit or audit
engagements if the auditor objects to the issuer's accounting

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 3.0 |

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Seeking to have a partner removed from the audit engagement because the partner objects to the Funds'
accounting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Blackmailing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Making physical threats H. RECORDKEEPING

H. RECORDKEEPING

You must be familiar with the Funds' record retention policies and always retain or destroy records according to them. In the event of litigation, governmental investigation or the threat of such action, you should consult the Chief Legal Officer or the Chief Compliance Officer regarding record retention.

The Funds' books, records and accounts must conform both to applicable legal requirements and to the Funds' internal controls and policies.

Unrecorded or "off-the-books" funds or assets are prohibited unless permitted by applicable law or regulation. Business records must not contain exaggeration, derogatory remarks, guesswork, or inappropriate characterizations of people and companies. This applies equally to email, internal memoranda, formal reports, and all other forms of business records.

I. SALES PRACTICES

If you transact business for shareholders, you are required to know and observe the Funds' specific policies and procedures for shareholder sales and transactions, such as the content and use of sales materials, documentation for transactions, quotations and suitability. Likewise, if you transact business with third parties (such as vendors or suppliers), you will be required to know and observe the Funds' policies and procedures for such transactions, such as marketing policies, procedures for performing due diligence on third parties, and obtaining proper authorizations for any agreements. You must be familiar with any enumerated policies and procedures governing your sales activities and use good judgment in complying with them.

J. COMPETITION AND FAIR DEALING

We operate our business fairly and honestly. We seek competitive advantage through performance and never through unethical or illegal business practices. It is our policy to comply with anti-trust laws. These laws are complex and not easily summarized, but at a minimum require that there be no agreement or understanding between the Funds and their competitors that affect prices, terms or conditions of sale or that unreasonably restrain full and fair competition. You must always respect the rights of and deal fairly with the Funds' shareholders and competitors. You must never take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair dealing practice.

K. PROHIBITION OF BRIBERY AND KICKBACKS

Our policies prohibit bribery or kickbacks of any kind and to anyone in the conduct of our business. The U.S. government has a number of laws and regulations applicable specifically to business gratuities that may be offered to or accepted by U.S. and foreign government personnel. The promise, offer or delivery to an official or employee of the U.S. government or an official, employee or candidate of a foreign government of a gift, favor, payment or other gratuity in violation of these rules would not only violate the Funds' policy but could also be a criminal offense. Similarly, federal law, as well as the laws of many states, prohibits engaging in "commercial bribery." Commercial bribery involves soliciting, demanding or agreeing to accept anything of value from any person intending to influence or be rewarded in connection with any business or transaction, and prohibits all such behavior, for example, with respect to vendors, competitors, shareholders, and government employees.

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 4.0 |

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

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L. WAIVERS

Waivers of the Code may be made only by the Trustees and will be promptly disclosed publicly as required by law.

M. CODE AMENDMENTS

This Code may not be amended except in written form, which is specifically approved or ratified by a majority of the Trustees including a majority of the independent Trustees. Any amendments will, to the extent required, be disclosed in accordance with law.

N. CONFIDENTIALITY

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Trustees, CSIM, The Charles Schwab Corporation and their respective counsel. However, nothing contained in this Code or in any applicable employment or severance agreement(s) should be interpreted as prohibiting employees or former employees from voluntarily communicating with the Securities and Exchange Commission or other authorities regarding possible violations of law or from recovering a whistleblower award.

**IV. ESCALATION AND PROHIBITION AGAINST RETALIATION** 

If you know of, or reasonably believe there is, a violation of this Code, you must report that information immediately to the Funds' Chief Compliance Officer. Depending on the possible violation, you may also be required to report it pursuant to The Charles Schwab Corporation Code of Business Conduct and CSIM and/or CSIM's affiliate's compliance policies and procedures. You should not conduct preliminary investigations unless authorized to do so by the Compliance Department.

No Officer will be retaliated against for making a good faith complaint or for bringing inappropriate conduct to the attention of the Funds' personnel, Ombudsperson of The Charles Schwab Corporation or Trustees, for assisting another employee or applicant in making a good faith report, for cooperating in an investigation, or for filing an administrative claim with a state or federal governmental agency. Any Officer who in good faith raises an issue regarding a possible violation of law, regulation or company policy or any suspected illegal or unethical behavior will be protected from retaliation.

If you have violated the Code, however, making a report will not protect you from the consequences of your actions. You can be subject to discipline up to and including termination of employment if you violate the Code or fail to report violations that come to your attention.

Any employee who engages in retaliatory conduct in violation of our policies will be subject to disciplinary action, up to and including termination of employment. If you reasonably believe retaliatory conduct has occurred, you must report such conduct to the Funds' Chief Compliance Officer.

**V. PROCEDURES** 

A. OFFICERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Read and be familiar with conduct rules outlined in the Code, and periodically review them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Affirm in writing to the Trustees that you have received, read and understand the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annually affirm to the Trustees that you have complied with the requirements of the Code.

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 5.0 |

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| | |
|:---|:---|
| **F.II.1.B.** | **CODE OF BUSINESS CONDUCT AND ETHICS** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Comply with the conduct standards outlined in this Code in all dealings and actions, including those with
shareholders, the public, and vendors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Report any material transaction or relationship to the Chief Compliance Officer that reasonably could be expected
to be or to create a personal conflict of interest with the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Report in a timely manner to the Chief Compliance Officer any conduct that may constitute a violation of the
Code, the Funds' policies, or laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Raise questions or concerns about conduct issues with your supervisor, the Chief Legal Officer or Chief
Compliance Officer, and seek advice when in doubt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cooperate with management during fact-finding investigations and comply with any confidentiality rules imposed.

B. CHIEF COMPLIANCE OFFICER

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Chief Compliance Officer, upon becoming notified of potential violation of this Code, will conduct,
facilitate or delegate a review of the matter and will report to the Chairperson of the affected Fund's Audit, Compliance and Valuation Committee any violations of this Code that he or she believes to be material.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Chief Compliance Officer, upon becoming notified of a personal conflict of interest between an Officer and
the Funds that the Chief Compliance Officer deems to be material, will report the issue to the Chairperson of the affected Fund's Audit, Compliance and Valuation Committee and will work with the Chief Legal Officer and other appropriate parties
to ensure that any required disclosures are made.

C. TRUSTEES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Board of Trustees will consider appropriate action to address any violations of the Code that they deem to be
material, which may include review of and appropriate modification to applicable policies and procedures, notification to appropriate personnel of CSIM or its board of directors, notification to appropriate personnel of The Charles Schwab
Corporation or its board of directors, or a recommendation to dismiss the Officer.

**VI. REGULATORY AUTHORITY** 

This Code constitutes the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Funds, CSIM, CSIM's affiliates, The Charles Schwab Corporation or other Fund service providers govern or purport to govern the behavior or activities of an Officer who is subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. CSIM's, the Funds' and Charles Schwab & Co. Inc.'s (as distributor) joint code of ethics under Rule 17j-1 pursuant to the 1940 Act and Rule 204A-1 of the Advisers Act, and CSIM's, CSIM's affiliates', and The Charles Schwab Corporation's policies and procedures set forth in their respective compliance manuals and elsewhere are separate requirements applying to the Officers and are not part of this Code.

<u>VERSION HISTORY</u>

Adopted Schwab and Laudus Funds: June 15, 2011, Schwab ETFs: August 4, 2011 Revised August 8, 2013; December 11, 2015; August 25, 2016; December 11, 2017; September 25, 2018 (no changes); December 12, 2019; November 3, 2020; October 7, 2021; December 13, 2022; December 11, 2023; December 19, 2024

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| | |
|:---|:---|
| **The information contained herein is the property of Charles Schwab and may not be copied, used or disclosed in whole or in part, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, reprographic, recording, or otherwise) outside of Charles Schwab without prior permission of the Chief Compliance Officer of the Funds or CSIM, as applicable, or his/her designee.** | 6.0 |

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## Ex-99.Cert

**<u>CERTIFICATIONS</u>**

I, Omar Aguilar, certify that:

1. I have reviewed this report on Form N-CSR of The Charles Schwab Family of Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: February 14, 2025 | /s/ Omar Aguilar |
|  | Omar Aguilar<br> Principal Executive Officer (Chief Executive Officer) |

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------

**<u>CERTIFICATIONS</u>**

I, Dana Smith, certify that:

1. I have reviewed this report on Form N-CSR of The Charles Schwab Family of Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: February 14, 2025 | /s/ Dana Smith |
|  | Dana Smith<br> Principal Financial Officer (Chief Financial Officer) |

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## Exhibit 99.906

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES**-**OXLEY ACT OF 2002

In connection with the Annual Report for The Charles Schwab Family of Funds (the "Funds") on Form N-CSR for the period ended December 31, 2024 ("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.

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| | | |
|:---|:---|:---|
| /s/ Omar Aguilar | Date: | February 14, 2025 |
| Omar Aguilar |  |  |
| Principal Executive Officer (Chief Executive Officer) |  |  |

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| | | |
|:---|:---|:---|
| /s/ Dana Smith | Date: | February 14, 2025 |
| Dana Smith |  |  |
| Principal Financial Officer (Chief Financial Officer) |  |  |

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This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission.