# EDGAR Filing Document

**Accession Number:** 0000832545
**File Stem:** 0001752724-23-036997
**Filing Date:** 2023-2
**Character Count:** 37517
**Document Hash:** 83d3ba0bfdd7aac23dbe13d7fe0bc783
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-036997.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-036997

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LAUDUS TRUST
- **CENTRAL INDEX KEY:** 0000832545
- **IRS NUMBER:** 680163788
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05547
- **FILM NUMBER:** 23658820

**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:** BARR ROSENBERG SERIES TRUST
- **DATE OF NAME CHANGE:** 19961003

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROSENBERG SERIES TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROSENBERG SMALL CAPITALIZATION FUND
- **DATE OF NAME CHANGE:** 19881030

## Series and Classes Contracts Data

### Schwab Select Large Cap Growth Fund (Series ID: S000025589)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000076665 | Schwab Select Large Cap Growth Fund | LGILX           |

## Nport-Ex

Laudus Trust <br>Schwab Select Large Cap Growth Fund

------

**Portfolio Holdings** as of December 31, 2022 (Unaudited)

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

The following are the portfolio holdings as of the report date. For more information, please refer to the fund's semiannual or annual shareholder reports. You can also obtain this information at no cost by calling 1-866-414-6349 or by sending an email request to orders@mysummaryprospectus.com.

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

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **COMMON STOCKS** 100.3% OF NET ASSETS | **COMMON STOCKS** 100.3% OF NET ASSETS | **COMMON STOCKS** 100.3% OF NET ASSETS |
| **Automobiles & Components 1.9%** | **Automobiles & Components 1.9%** | **Automobiles & Components 1.9%** |
| Tesla, Inc. \* | &nbsp;&nbsp;&nbsp; 271884 | **33490671** |
| **Capital Goods 2.7%** | **Capital Goods 2.7%** | **Capital Goods 2.7%** |
| TransDigm Group, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp; 76092 | **47911328** |
| **Commercial & Professional Services 2.0%** | **Commercial & Professional Services 2.0%** | **Commercial & Professional Services 2.0%** |
| Cintas Corp.  | &nbsp;&nbsp;&nbsp;&nbsp; 45742 | &nbsp;&nbsp;&nbsp;&nbsp; 20658002 |
| Waste Connections, Inc.  | &nbsp;&nbsp;&nbsp; 112698 | &nbsp;&nbsp;&nbsp;&nbsp; 14939247 |
|  |  | **35597249** |
| **Consumer Durables & Apparel 5.2%** | **Consumer Durables & Apparel 5.2%** | **Consumer Durables & Apparel 5.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE <br> ADR <br>| &nbsp;&nbsp;&nbsp; 321751 | &nbsp;&nbsp;&nbsp;&nbsp; 46612067 |
| NIKE, Inc., Class B  | &nbsp;&nbsp;&nbsp; 389908 | &nbsp;&nbsp;&nbsp;&nbsp; 45623135 |
|  |  | **92235202** |
| **Consumer Services 3.2%** | **Consumer Services 3.2%** | **Consumer Services 3.2%** |
| Chipotle Mexican Grill, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17105 | &nbsp;&nbsp;&nbsp;&nbsp; 23733017 |
| Evolution AB ADR  | &nbsp;&nbsp;&nbsp; 335193 | &nbsp;&nbsp;&nbsp;&nbsp; 32798635 |
|  |  | **56531652** |
| **Diversified Financials 5.4%** | **Diversified Financials 5.4%** | **Diversified Financials 5.4%** |
| Blackstone, Inc.  | &nbsp;&nbsp;&nbsp; 306277 | &nbsp;&nbsp;&nbsp;&nbsp; 22722690 |
| MSCI, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp; 43647 | &nbsp;&nbsp;&nbsp;&nbsp; 20303275 |
| S&P Global, Inc.  | &nbsp;&nbsp;&nbsp; 158104 | &nbsp;&nbsp;&nbsp;&nbsp; 52955354 |
|  |  | **95981319** |
| **Energy 1.7%** | **Energy 1.7%** | **Energy 1.7%** |
| Cheniere Energy, Inc.  | &nbsp;&nbsp;&nbsp; 158735 | &nbsp;&nbsp;&nbsp;&nbsp; 23803901 |
| EQT Corp.  | &nbsp;&nbsp;&nbsp; 191277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6470901 |
|  |  | **30274802** |
| **Health Care Equipment & Services 9.4%** | **Health Care Equipment & Services 9.4%** | **Health Care Equipment & Services 9.4%** |
| Boston Scientific Corp. \* | &nbsp;&nbsp;&nbsp; 630730 | &nbsp;&nbsp;&nbsp;&nbsp; 29183877 |
| IDEXX Laboratories, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 72805 | &nbsp;&nbsp;&nbsp;&nbsp; 29701528 |
| Intuitive Surgical, Inc. \* | &nbsp;&nbsp;&nbsp; 158517 | &nbsp;&nbsp;&nbsp;&nbsp; 42062486 |
| UnitedHealth Group, Inc.  | &nbsp;&nbsp;&nbsp; 124792 | &nbsp;&nbsp;&nbsp;&nbsp; 66162222 |
|  |  | **167110113** |
| **Materials 1.4%** | **Materials 1.4%** | **Materials 1.4%** |
| The Sherwin-Williams Co.  | &nbsp;&nbsp;&nbsp; 102914 | **24424580** |

---

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **Media & Entertainment 6.4%** | **Media & Entertainment 6.4%** | **Media & Entertainment 6.4%** |
| Alphabet, Inc., Class A \* | &nbsp;&nbsp;&nbsp; 986098 | &nbsp;&nbsp;&nbsp;&nbsp; 87003427 |
| Match Group, Inc. \* | &nbsp;&nbsp;&nbsp; 631823 | &nbsp;&nbsp;&nbsp;&nbsp; 26214336 |
|  |  | **113217763** |
| **Pharmaceuticals, Biotechnology & Life Sciences 8.8%** | **Pharmaceuticals, Biotechnology & Life Sciences 8.8%** | **Pharmaceuticals, Biotechnology & Life Sciences 8.8%** |
| AstraZeneca plc ADR  | &nbsp;&nbsp;&nbsp; 498622 | &nbsp;&nbsp;&nbsp;&nbsp; 33806571 |
| Danaher Corp.  | &nbsp;&nbsp;&nbsp; 161388 | &nbsp;&nbsp;&nbsp;&nbsp; 42835603 |
| Lonza Group AG ADR  | &nbsp;&nbsp;&nbsp; 469417 | &nbsp;&nbsp;&nbsp;&nbsp; 22884079 |
| Thermo Fisher Scientific, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp; 48556 | &nbsp;&nbsp;&nbsp;&nbsp; 26739304 |
| Zoetis, Inc.  | &nbsp;&nbsp;&nbsp; 201588 | &nbsp;&nbsp;&nbsp;&nbsp; 29542721 |
|  |  | **155808278** |
| **Real Estate 0.6%** | **Real Estate 0.6%** | **Real Estate 0.6%** |
| Prologis, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp; 93165 | **10502490** |
| **Retailing 6.8%** | **Retailing 6.8%** | **Retailing 6.8%** |
| Amazon.com, Inc. \* | 1296273 | &nbsp;&nbsp;&nbsp; 108886932 |
| Ross Stores, Inc.  | &nbsp;&nbsp;&nbsp;&nbsp; 98191 | &nbsp;&nbsp;&nbsp;&nbsp; 11397029 |
|  |  | **120283961** |
| **Semiconductors & Semiconductor Equipment 10.0%** | **Semiconductors & Semiconductor Equipment 10.0%** | **Semiconductors & Semiconductor Equipment 10.0%** |
| Advanced Micro Devices, Inc. \* | &nbsp;&nbsp;&nbsp; 529589 | &nbsp;&nbsp;&nbsp;&nbsp; 34301479 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding N.V. NY Registry Shares, <br> ADR <br>| &nbsp;&nbsp;&nbsp; 109122 | &nbsp;&nbsp;&nbsp;&nbsp; 59624261 |
| KLA Corp.  | &nbsp;&nbsp;&nbsp;&nbsp; 98733 | &nbsp;&nbsp;&nbsp;&nbsp; 37225303 |
| Marvell Technology, Inc.  | &nbsp;&nbsp;&nbsp; 386839 | &nbsp;&nbsp;&nbsp;&nbsp; 14328517 |
| NVIDIA Corp.  | &nbsp;&nbsp;&nbsp; 222692 | &nbsp;&nbsp;&nbsp;&nbsp; 32544209 |
|  |  | **178023769** |
| **Software & Services 26.4%** | **Software & Services 26.4%** | **Software & Services 26.4%** |
| Adyen N.V. \* | &nbsp;&nbsp;&nbsp; 515992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7120690 |
| Bill.com Holdings, Inc. \* | &nbsp;&nbsp;&nbsp; 114358 | &nbsp;&nbsp;&nbsp;&nbsp; 12460448 |
| Cadence Design Systems, Inc. \* | &nbsp;&nbsp;&nbsp; 207317 | &nbsp;&nbsp;&nbsp;&nbsp; 33303403 |
| Intuit, Inc.  | &nbsp;&nbsp;&nbsp; 195257 | &nbsp;&nbsp;&nbsp;&nbsp; 75997930 |
| Mastercard, Inc., Class A  | &nbsp;&nbsp;&nbsp; 141732 | &nbsp;&nbsp;&nbsp;&nbsp; 49284468 |
| Microsoft Corp.  | &nbsp;&nbsp;&nbsp; 653515 | &nbsp;&nbsp;&nbsp; 156725967 |
| MongoDB, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp; 17734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3490761 |
| ServiceNow, Inc. \* | &nbsp;&nbsp;&nbsp; 101242 | &nbsp;&nbsp;&nbsp;&nbsp; 39309231 |
| Visa, Inc., Class A  | &nbsp;&nbsp;&nbsp; 438240 | &nbsp;&nbsp;&nbsp;&nbsp; 91048742 |
|  |  | **468741640** |
| **Technology Hardware & Equipment 8.4%** | **Technology Hardware & Equipment 8.4%** | **Technology Hardware & Equipment 8.4%** |
| Apple Inc.  | 1145741 | **148866128** |
| **Total Common Stocks**<br> **(Cost $1,406,018,783)** | **Total Common Stocks**<br> **(Cost $1,406,018,783)** | **1779000945** |

---

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

**1**

------

Schwab Select Large Cap Growth Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | |
|:---|:---|:---|
| SECURITY | NUMBER<br> OF SHARES<br>| VALUE ($) |
| **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS | **SHORT-TERM INVESTMENTS** 0.2% OF NET ASSETS |
| **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional <br> U.S. Government Money Market <br> Fund, Premier Class 4.12% *(a)*<br>| 3310931 | **3310931** |
| **Total Short-Term Investments**<br> **(Cost $3,310,931)** | **Total Short-Term Investments**<br> **(Cost $3,310,931)** | **3310931** |
| **Total Investments in Securities**<br> **(Cost $1,409,329,714)** | **Total Investments in Securities**<br> **(Cost $1,409,329,714)** | **1782311876** |

---

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

\* Non-income producing security. <br> *(a)* The rate shown is the annualized 7-day yield.

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

ADR — American Depositary Receipt

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

------

The following is a summary of the inputs used to value the fund's investments as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| DESCRIPTION | QUOTED PRICES IN<br> ACTIVE MARKETS FOR<br> IDENTICAL ASSETS<br> (LEVEL 1)<br>| &nbsp;&nbsp; OTHER SIGNIFICANT<br> OBSERVABLE INPUTS<br> (LEVEL 2)<br>| &nbsp;&nbsp; SIGNIFICANT<br> UNOBSERVABLE INPUTS<br> (LEVEL 3)<br>| TOTAL |
| **Assets** |  |  |  |  |
| Common Stocks<sup>1</sup> <br>| $1779000945 | $— | $— | $1779000945 |
| Short-Term Investments<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3310931 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3310931 |
| **Total** | **$1782311876** | **$—** | **$—** | **$1782311876** |

---

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

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

Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.

**2** 

------

Schwab Select Large Cap Growth Fund

**Notes to Portfolio Holdings (Unaudited)** 

------

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Securities traded on an exchange or over-the-counter:** Traded securities are valued at the closing value for the day, or, on days when no closing value has been reported, at the mean of the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Foreign equity security fair valuation:** The Valuation Designee has adopted procedures to fair value foreign equity securities that are traded in markets that close prior to the valuation of the fund's holdings. By fair valuing securities whose prices may have been affected by events occurring after the close of trading, the Valuation Designee seeks to establish prices that investors might expect to realize upon the current sales of these securities. This methodology is designed to deter "arbitrage" market timers, who seek to exploit delays between the change in the value of the fund's portfolio holdings and the NAV of the fund's shares and seeks to help ensure that the prices at which the fund's shares are purchased and redeemed are fair and do not result in dilution of shareholder interest or other harm to shareholders. When fair value pricing is used at the open or close of a reporting period, it may cause a temporary divergence between the return of the fund and that of its comparative index or benchmark.

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

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

In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the significant inputs to valuation techniques 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 the fund determines 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, and whose values are therefore classified as Level 1 prices, include active listed equities, mutual funds and exchange-traded funds. Mutual funds and exchange-traded funds are classified as Level 1 prices, without consideration to the classification level of the underlying securities held.

&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 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. In addition, international securities whose markets close hours before the valuation of a fund's holdings may require fair valuations due to significant movement in the U.S. markets occurring after the daily close of the foreign markets. The Valuation Designee has approved a vendor that calculates fair valuations of international equity securities based on a number of factors that appear to correlate to the movements in the U.S. markets.

**3**

------

Schwab Select Large Cap Growth Fund

**Notes to Portfolio Holdings (Unaudited) (continued)**

------

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

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

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

REG60662DEC22

**4** 

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## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** LAUDUS TRUST

- **b. Investment Company Act file number:** 811-05547

- **c. CIK number of Registrant:** 0000832545

- **d. LEI of Registrant:** 549300DRTNY2L5NL9V79

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 211 MAIN STREET

  - **City:** SAN FRANCISCO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** Schwab Select Large Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000025589

- **c. LEI of Series:** 54930017OMFIVKDL2J78

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1787955786.87

**Total Liabilities:** $6937014.35

**Net Assets:** $1781018772.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000076665 | 4.18%                | 5.83%                | -8.32%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2022071.24             | $84503333.76                               |
| Month 2  | $-2548120.96             | $110330076.73                              |
| Month 3  | $10607389.19             | $-174336252.45                             |

### Schedule of Portfolio Investments

| Name                                                       | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EQT Corp                                                   | EQT Corp                                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    191277 | NS      | $6470900.91   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                                 | Intuit Inc                                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |    195257 | NS      | $75997929.54  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                                                   | MSCI Inc                                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |     43647 | NS      | $20303274.99  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                                 | Chipotle Mexican Grill Inc                                 | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17105 | NS      | $23733016.45  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    124792 | NS      | $66162222.56  | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                               | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     48556 | NS      | $26739303.64  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                                                   | NIKE Inc                                                   | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    389908 | NS      | $45623135.08  | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                                        | Cheniere Energy Inc                                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |    158735 | NS      | $23803900.60  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bill.com Holdings Inc                                      | Bill.com Holdings Inc                                      | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |    114358 | NS      | $12460447.68  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                                                | Cintas Corp                                                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45742 | NS      | $20658002.04  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                                 | Advanced Micro Devices Inc                                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    529589 | NS      | $34301479.53  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                               | Alphabet Inc                                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    986098 | NS      | $87003426.54  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                               | Prologis Inc                                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     93165 | NS      | $10502490.45  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                                   | Visa Inc                                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    438240 | NS      | $91048742.40  | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                                 | Zoetis Inc                                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |    201588 | NS      | $29542721.40  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                            | ASML Holding NV                                            | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |    109122 | NS      | $59624260.80  | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                                     | Boston Scientific Corp                                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    630730 | NS      | $29183877.10  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                                                   | Adyen NV                                                   | CUSIP: 00783V104<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |    515992 | NS      | $7120689.60   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                             | Microsoft Corp                                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    653515 | NS      | $156725967.30 | 8.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                                | NVIDIA Corp                                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    222692 | NS      | $32544208.88  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                            | AstraZeneca PLC                                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    498622 | NS      | $33806571.60  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   3310931 | NS      | $3310931.25   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE                        | LVMH Moet Hennessy Louis Vuitton SE                        | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |    321751 | NS      | $46612067.37  | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                                | MongoDB Inc                                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     17734 | NS      | $3490760.56   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                                               | Evolution AB                                               | CUSIP: 30051E104<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |    335193 | NS      | $32798635.05  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                                     | Marvell Technology Inc                                     | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    386839 | NS      | $14328516.56  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc                                        | TransDigm Group Inc                                        | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76092 | NS      | $47911327.80  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                                 | Cadence Design Systems Inc                                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |    207317 | NS      | $33303402.88  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                                     | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    158517 | NS      | $42062485.95  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                             | Mastercard Inc                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    141732 | NS      | $49284468.36  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                                  | Tesla Inc                                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    271884 | NS      | $33490671.12  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                                            | Match Group Inc                                            | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |    631823 | NS      | $26214336.27  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                             | ServiceNow Inc                                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |    101242 | NS      | $39309231.34  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The                                    | Sherwin-Williams Co/The                                    | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |    102914 | NS      | $24424579.62  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                                            | Ross Stores Inc                                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     98191 | NS      | $11397029.37  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                                      | Waste Connections Inc                                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |    112698 | NS      | $14939246.88  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                                             | Blackstone Inc                                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |    306277 | NS      | $22722690.63  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                                                   | KLA Corp                                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     98733 | NS      | $37225302.99  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                  | Apple Inc                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   1145741 | NS      | $148866128.13 | 8.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                               | Danaher Corp                                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    161388 | NS      | $42835602.96  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                             | Lonza Group AG                                             | CUSIP: 54338V101<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |    469417 | NS      | $22884078.75  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                             | S&P Global Inc                                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |    158104 | NS      | $52955353.76  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                             | Amazon.com Inc                                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1296273 | NS      | $108886932.00 | 6.11%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                                     | IDEXX Laboratories Inc                                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     72805 | NS      | $29701527.80  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

**Name of Applicant:** LAUDUS TRUST

**Signature:** Dana Smith

**Name of Signer:** Dana Smith

**Title:** CFO