# EDGAR Filing Document

**Accession Number:** 0000904333
**File Stem:** 0001752724-23-067761
**Filing Date:** 2023-3
**Character Count:** 198936
**Document Hash:** 5e0c08dc02c3be0154b9075f08d3937b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-067761.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-067761

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWAB CAPITAL TRUST
- **CENTRAL INDEX KEY:** 0000904333
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07704
- **FILM NUMBER:** 23763920

**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

## Series and Classes Contracts Data

### Schwab Target 2015 Fund (Series ID: S000020935)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000059131 | Schwab Target 2015 Fund | SWGRX           |

## Nport-Ex

Schwab Capital Trust <br>Schwab Target 2010 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS |
| **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** | **U.S. Stocks 20.5%** |
| **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** | **Large-Cap 17.8%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; $826164 | &nbsp;&nbsp;&nbsp; $118325 | &nbsp;&nbsp;&nbsp;&nbsp; ($50547) | &nbsp;&nbsp;&nbsp;&nbsp; $1124 | &nbsp;&nbsp;&nbsp;&nbsp; ($64515) | &nbsp;&nbsp;&nbsp;&nbsp; $830551 | &nbsp;&nbsp;&nbsp;&nbsp; 46425 | $118325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company Index <br> Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 978652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75000) | &nbsp;&nbsp;&nbsp;&nbsp; (5745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 966846 | &nbsp;&nbsp;&nbsp;&nbsp; 43571 | &nbsp;&nbsp;&nbsp;&nbsp; 20220 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 5568093 | &nbsp;&nbsp;&nbsp;&nbsp; 504527 | &nbsp;&nbsp;&nbsp;&nbsp; (411299) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8420 | &nbsp;&nbsp;&nbsp;&nbsp; 230064 | &nbsp;&nbsp;&nbsp;&nbsp; 5899805 | &nbsp;&nbsp;&nbsp;&nbsp; 94472 | &nbsp;&nbsp;&nbsp;&nbsp; 94527 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1015537 | &nbsp;&nbsp;&nbsp;&nbsp; 118747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81005) | &nbsp;&nbsp;&nbsp;&nbsp; (36551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2599) | &nbsp;&nbsp;&nbsp;&nbsp; 1014129 | &nbsp;&nbsp;&nbsp;&nbsp; 53771 | &nbsp;&nbsp; 118747 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8711331 |  |  |
| **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310945 | &nbsp;&nbsp;&nbsp;&nbsp; 285648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634124 | &nbsp;&nbsp;&nbsp;&nbsp; 11436 | &nbsp;&nbsp;&nbsp;&nbsp; 5647 |
| **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** | **Small-Cap 1.4%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (76198) | &nbsp;&nbsp;&nbsp;&nbsp; (8639) | &nbsp;&nbsp;&nbsp;&nbsp; (10526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670690 | &nbsp;&nbsp;&nbsp;&nbsp; 36630 | &nbsp;&nbsp;&nbsp;&nbsp; 60625 |
|  |  |  |  |  |  | &nbsp;&nbsp; 10016145 |  |  |
| **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** | **International Stocks 7.9%** |
| **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** | **Developed Markets 7.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 191482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191482 | &nbsp;&nbsp;&nbsp;&nbsp; 19460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 1678548 | &nbsp;&nbsp;&nbsp;&nbsp; 126142 | &nbsp;&nbsp;&nbsp;&nbsp; (527561) | &nbsp;&nbsp;&nbsp;&nbsp; (17769) | &nbsp;&nbsp;&nbsp;&nbsp; 279697 | &nbsp;&nbsp;&nbsp;&nbsp; 1539057 | &nbsp;&nbsp; 153293 | &nbsp;&nbsp;&nbsp;&nbsp; 56142 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 2348144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88168 | &nbsp;&nbsp;&nbsp;&nbsp; (715196) | &nbsp;&nbsp; (148980) | &nbsp;&nbsp;&nbsp;&nbsp; 545065 | &nbsp;&nbsp;&nbsp;&nbsp; 2117201 | &nbsp;&nbsp; 106768 | &nbsp;&nbsp;&nbsp;&nbsp; 88168 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3847740 |  |  |
| **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** | **Real Estate 2.5%** |
| **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** | **Global Real Estate 2.5%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 1180683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90239) | &nbsp;&nbsp;&nbsp;&nbsp; (17704) | &nbsp;&nbsp;&nbsp;&nbsp; 162198 | &nbsp;&nbsp;&nbsp;&nbsp; 1243583 | &nbsp;&nbsp; 187852 | &nbsp;&nbsp;&nbsp;&nbsp; 8645 |
| **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** | **Fixed Income 40.8%** |
| **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** | **Inflation-Protected Bond 6.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Treasury Inflation Protected Securities <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3062555 | &nbsp;&nbsp;&nbsp;&nbsp; 218647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14990) | &nbsp;&nbsp;&nbsp;&nbsp; 3266212 | &nbsp;&nbsp; 314664 | &nbsp;&nbsp;&nbsp;&nbsp; 98646 |
| **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** | **Intermediate-Term Bond 26.1%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp; 11807858 | &nbsp;&nbsp;&nbsp;&nbsp; 522185 | &nbsp;&nbsp;&nbsp;&nbsp; (199999) | &nbsp;&nbsp;&nbsp;&nbsp; (42107) | &nbsp;&nbsp;&nbsp;&nbsp; 697578 | &nbsp;&nbsp; 12785515 | 1408096 | &nbsp;&nbsp;&nbsp;&nbsp; 87364 |
| **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** | **Short-Term Bond 8.0%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 4518216 | &nbsp;&nbsp;&nbsp;&nbsp; 147476 | &nbsp;&nbsp;&nbsp;&nbsp; (850001) | &nbsp;&nbsp;&nbsp;&nbsp; (50275) | &nbsp;&nbsp;&nbsp;&nbsp; 140688 | &nbsp;&nbsp;&nbsp;&nbsp; 3906104 | &nbsp;&nbsp; 410736 | &nbsp;&nbsp;&nbsp;&nbsp; 27471 |
|  |  |  |  |  |  | &nbsp;&nbsp; 19957831 |  |  |

---

**1**

------

Schwab Target 2010 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** | **Money Market Funds 3.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, Ultra <br> Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp; $1707758 | &nbsp;&nbsp;&nbsp;&nbsp; $16978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $685 | &nbsp;&nbsp; $1725421 | 1724731 | &nbsp;&nbsp; $17934 |
| **Total Affiliated Underlying Funds**<br> **(Cost $33,546,782)**<br>| **$35708581** | **$2427815** | **($3077045)** | **($318226)** | **$2049595** | **$36790720** |  | **$802461** |
| **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 23.7% OF NET ASSETS |
| **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** | **U.S. Stocks 5.7%** |
| **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** | **Large-Cap 5.2%** |
| ClearBridge Large Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $1254345 | &nbsp;&nbsp;&nbsp;&nbsp; 24408 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1304720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5673 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2559065 |  |  |
| **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** |
| ClearBridge Small Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5335 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2780791 |  |  |
| **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** | **Fixed Income 18.0%** |
| **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** | **Intermediate-Term Bond 15.9%** |
| Baird Aggregate Bond Fund, Institutional Class  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6465926 | &nbsp;&nbsp; 653124 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond Fund, <br> Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445565 | &nbsp;&nbsp;&nbsp;&nbsp; 44871 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 861956 | &nbsp;&nbsp;&nbsp;&nbsp; 88045 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 7773447 |  |  |
| **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** | **International Bond 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund (U.S. Dollar-<br> Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1013145 | &nbsp;&nbsp; 106759 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 8786592 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $11,867,347)**<br>|  |  |  |  |  | **$11567383** |  |  |
| **Total Investments in Securities**<br> **(Cost $45,414,129)**<br>|  |  |  |  |  | **$48358103** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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 Capital Trust <br>Schwab Target 2015 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.2% OF NET ASSETS |
| **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** | **U.S. Stocks 22.1%** |
| **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** | **Large-Cap 19.6%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $1110851 | &nbsp;&nbsp;&nbsp; $159098 | &nbsp;&nbsp;&nbsp;&nbsp; ($90000) | &nbsp;&nbsp; ($4052) | &nbsp;&nbsp;&nbsp;&nbsp; ($87828) | &nbsp;&nbsp; $1088069 | &nbsp;&nbsp;&nbsp;&nbsp; 60820 | $159098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company Index <br> Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1306242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80000) | &nbsp;&nbsp;&nbsp;&nbsp; (3045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64469 | &nbsp;&nbsp;&nbsp;&nbsp; 1313047 | &nbsp;&nbsp;&nbsp;&nbsp; 59173 | &nbsp;&nbsp;&nbsp;&nbsp; 25381 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 7789834 | &nbsp;&nbsp;&nbsp;&nbsp; 124070 | &nbsp;&nbsp;&nbsp;&nbsp; (200000) | 143554 | &nbsp;&nbsp;&nbsp;&nbsp; 173595 | &nbsp;&nbsp;&nbsp;&nbsp; 8031053 | &nbsp;&nbsp; 128600 | &nbsp;&nbsp; 124070 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1064728 | &nbsp;&nbsp;&nbsp;&nbsp; 124499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (41047) | &nbsp;&nbsp;&nbsp;&nbsp; 1148180 | &nbsp;&nbsp;&nbsp;&nbsp; 60879 | &nbsp;&nbsp; 124499 |
|  |  |  |  |  |  | &nbsp;&nbsp; 11580349 |  |  |
| **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** | **Mid-Cap 1.0%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446819 | &nbsp;&nbsp;&nbsp;&nbsp; 131149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609528 | &nbsp;&nbsp;&nbsp;&nbsp; 10992 | &nbsp;&nbsp;&nbsp;&nbsp; 6995 |
| **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83154 | &nbsp;&nbsp;&nbsp;&nbsp; (112847) | &nbsp;&nbsp;&nbsp;&nbsp; (1144) | &nbsp;&nbsp;&nbsp;&nbsp; (24277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870452 | &nbsp;&nbsp;&nbsp;&nbsp; 47540 | &nbsp;&nbsp;&nbsp;&nbsp; 83154 |
|  |  |  |  |  |  | &nbsp;&nbsp; 13060329 |  |  |
| **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** | **International Stocks 9.0%** |
| **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** | **Developed Markets 9.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 265514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265514 | &nbsp;&nbsp;&nbsp;&nbsp; 26983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 2398451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79244 | &nbsp;&nbsp;&nbsp;&nbsp; (701973) | &nbsp;&nbsp; (24880) | &nbsp;&nbsp;&nbsp;&nbsp; 383197 | &nbsp;&nbsp;&nbsp;&nbsp; 2134039 | &nbsp;&nbsp; 212554 | &nbsp;&nbsp;&nbsp;&nbsp; 79244 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 3360046 | &nbsp;&nbsp;&nbsp;&nbsp; 123136 | &nbsp;&nbsp; (1122336) | &nbsp;&nbsp; (24454) | &nbsp;&nbsp;&nbsp;&nbsp; 600541 | &nbsp;&nbsp;&nbsp;&nbsp; 2936933 | &nbsp;&nbsp; 148106 | &nbsp;&nbsp; 123136 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 5336486 |  |  |
| **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** | **Real Estate 2.8%** |
| **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** | **Global Real Estate 2.8%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 1613749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11817 | &nbsp;&nbsp;&nbsp;&nbsp; (162247) | &nbsp;&nbsp; (28680) | &nbsp;&nbsp;&nbsp;&nbsp; 226173 | &nbsp;&nbsp;&nbsp;&nbsp; 1660812 | &nbsp;&nbsp; 250878 | &nbsp;&nbsp;&nbsp;&nbsp; 11817 |
| **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** | **Fixed Income 37.9%** |
| **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** | **Inflation-Protected Bond 6.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Treasury Inflation Protected Securities <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3659414 | &nbsp;&nbsp;&nbsp;&nbsp; 187613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90000) | &nbsp;&nbsp;&nbsp;&nbsp; (5732) | &nbsp;&nbsp;&nbsp;&nbsp; (10185) | &nbsp;&nbsp;&nbsp;&nbsp; 3741110 | &nbsp;&nbsp; 360415 | &nbsp;&nbsp; 110665 |
| **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** | **Intermediate-Term Bond 24.2%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp; 13464248 | &nbsp;&nbsp;&nbsp;&nbsp; 294428 | &nbsp;&nbsp;&nbsp;&nbsp; (200000) | &nbsp;&nbsp; (27186) | &nbsp;&nbsp;&nbsp;&nbsp; 775507 | &nbsp;&nbsp; 14306997 | 1575660 | &nbsp;&nbsp;&nbsp;&nbsp; 99020 |
| **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** | **Short-Term Bond 7.4%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 5279826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30135 | &nbsp;&nbsp; (1055000) | &nbsp;&nbsp; (65809) | &nbsp;&nbsp;&nbsp;&nbsp; 164862 | &nbsp;&nbsp;&nbsp;&nbsp; 4354014 | &nbsp;&nbsp; 457835 | &nbsp;&nbsp;&nbsp;&nbsp; 30130 |
|  |  |  |  |  |  | &nbsp;&nbsp; 22402121 |  |  |

---

**3**

------

Schwab Target 2015 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** | **Money Market Funds 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, Ultra <br> Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp; $1957711 | &nbsp;&nbsp;&nbsp;&nbsp; $19463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $785 | &nbsp;&nbsp; $1977959 | 1977168 | &nbsp;&nbsp; $20559 |
| **Total Affiliated Underlying Funds**<br> **(Cost $39,146,692)**<br>| **$44377485** | **$1658701** | **($3814403)** | **($41428)** | **$2257352** | **$44437707** |  | **$997768** |
| **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS |
| **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** | **U.S. Stocks 6.5%** |
| **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** | **Large-Cap 6.0%** |
| ClearBridge Large Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $1781927 | &nbsp;&nbsp;&nbsp;&nbsp; 34675 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1744180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7583 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3526107 |  |  |
| **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** | **Small-Cap 0.5%** |
| ClearBridge Small Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7458 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3836043 |  |  |
| **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** | **Fixed Income 17.6%** |
| **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** | **Intermediate-Term Bond 15.4%** |
| Baird Aggregate Bond Fund, Institutional Class  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 6892664 | &nbsp;&nbsp; 696229 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond Fund, <br> Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 702299 | &nbsp;&nbsp;&nbsp;&nbsp; 70725 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1529755 | &nbsp;&nbsp; 156257 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 9124718 |  |  |
| **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund (U.S. Dollar-<br> Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1285386 | &nbsp;&nbsp; 135446 |  |
|  |  |  |  |  |  | &nbsp;&nbsp; 10410104 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $14,578,407)**<br>|  |  |  |  |  | **$14246147** |  |  |
| **Total Investments in Securities**<br> **(Cost $53,725,099)**<br>|  |  |  |  |  | **$58683854** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**4** 

------

Schwab Capital Trust <br>Schwab Target 2020 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 75.3% OF NET ASSETS |
| **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** | **U.S. Stocks 23.0%** |
| **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** | **Large-Cap 20.1%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; $8292907 | &nbsp;&nbsp; $1107502 | &nbsp;&nbsp;&nbsp;&nbsp; ($580000) | &nbsp;&nbsp; $162094 | &nbsp;&nbsp;&nbsp;&nbsp; ($735565) | &nbsp;&nbsp;&nbsp;&nbsp; $8246938 | &nbsp;&nbsp;&nbsp;&nbsp; 460980 | $1107502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6138957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6561550 | &nbsp;&nbsp;&nbsp;&nbsp; 295699 | &nbsp;&nbsp;&nbsp;&nbsp; 126835 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 55195348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901683 | &nbsp;&nbsp;&nbsp;&nbsp; (1780000) | &nbsp;&nbsp;&nbsp; 691304 | &nbsp;&nbsp;&nbsp;&nbsp; 1544031 | &nbsp;&nbsp;&nbsp;&nbsp; 56552366 | &nbsp;&nbsp;&nbsp;&nbsp; 905562 | &nbsp;&nbsp;&nbsp;&nbsp; 901683 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6434942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (248074) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6939309 | &nbsp;&nbsp;&nbsp;&nbsp; 367938 | &nbsp;&nbsp;&nbsp;&nbsp; 752441 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 78300163 |  |  |
| **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** | **Mid-Cap 1.4%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3310975 | &nbsp;&nbsp;&nbsp;&nbsp; 1963003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5507846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51830 |
| **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6086616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (568685) | &nbsp;&nbsp;&nbsp;&nbsp; 34475 | &nbsp;&nbsp;&nbsp;&nbsp; (201644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5897593 | &nbsp;&nbsp;&nbsp;&nbsp; 322097 | &nbsp;&nbsp;&nbsp;&nbsp; 546831 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 89705602 |  |  |
| **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** | **International Stocks 9.9%** |
| **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** | **Developed Markets 9.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1930731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1930731 | &nbsp;&nbsp;&nbsp;&nbsp; 196212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 17430537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565034 | &nbsp;&nbsp;&nbsp;&nbsp; (5115792) | &nbsp;&nbsp;&nbsp;&nbsp; (94758) | &nbsp;&nbsp;&nbsp;&nbsp; 2733278 | &nbsp;&nbsp;&nbsp;&nbsp; 15518299 | &nbsp;&nbsp; 1545647 | &nbsp;&nbsp;&nbsp;&nbsp; 565034 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 24565295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 867821 | &nbsp;&nbsp;&nbsp;&nbsp; (8271701) | &nbsp;&nbsp; (680457) | &nbsp;&nbsp;&nbsp;&nbsp; 4874829 | &nbsp;&nbsp;&nbsp;&nbsp; 21355787 | &nbsp;&nbsp; 1076943 | &nbsp;&nbsp;&nbsp;&nbsp; 867821 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38804817 |  |  |
| **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** | **Real Estate 3.0%** |
| **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** | **Global Real Estate 3.0%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 11428058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79047 | &nbsp;&nbsp;&nbsp;&nbsp; (1190091) | &nbsp;&nbsp; (295334) | &nbsp;&nbsp;&nbsp;&nbsp; 1644278 | &nbsp;&nbsp;&nbsp;&nbsp; 11665958 | &nbsp;&nbsp; 1762229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79047 |
| **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** | **Fixed Income 36.3%** |
| **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** | **Inflation-Protected Bond 6.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Treasury Inflation Protected <br> Securities Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23534113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 719552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (320000) | &nbsp;&nbsp;&nbsp;&nbsp; (23558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (85556) | &nbsp;&nbsp;&nbsp;&nbsp; 23824551 | &nbsp;&nbsp; 2295236 | &nbsp;&nbsp;&nbsp;&nbsp; 719552 |
| **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** | **Intermediate-Term Bond 23.2%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 85184431 | &nbsp;&nbsp;&nbsp;&nbsp; 1761882 | &nbsp;&nbsp;&nbsp;&nbsp; (1320000) | &nbsp;&nbsp; (190162) | &nbsp;&nbsp;&nbsp;&nbsp; 4913583 | &nbsp;&nbsp;&nbsp;&nbsp; 90349734 | &nbsp;&nbsp; 9950411 | &nbsp;&nbsp;&nbsp;&nbsp; 626648 |
| **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** | **Short-Term Bond 7.0%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 32998417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190628 | &nbsp;&nbsp;&nbsp;&nbsp; (6400000) | &nbsp;&nbsp; (384116) | &nbsp;&nbsp;&nbsp;&nbsp; 1019139 | &nbsp;&nbsp;&nbsp;&nbsp; 27424068 | &nbsp;&nbsp; 2883708 | &nbsp;&nbsp;&nbsp;&nbsp; 190599 |
|  |  |  |  |  |  | &nbsp;&nbsp; 141598353 |  |  |

---

**5**

------

Schwab Target 2020 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** | **Money Market Funds 3.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp; $12062266 | &nbsp;&nbsp;&nbsp;&nbsp; $119922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4838 | &nbsp;&nbsp; $12187026 | 12182153 | &nbsp;&nbsp;&nbsp; $126671 |
| **Total Affiliated Underlying Funds**<br> **(Cost $252,601,513)**<br>| **$292662862** | **$11632912** | **($25546269)** | **($780512)** | **$15992763** | **$293961756** |  | **$6662494** |
| **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.1% OF NET ASSETS |
| **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** | **U.S. Stocks 7.1%** |
| **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** | **Large-Cap 6.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $12528983 | &nbsp;&nbsp;&nbsp;&nbsp; 243802 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 12808510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55689 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 25337493 |  |  |
| **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** | **Small-Cap 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2306307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55493 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27643800 |  |  |
| **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** |
| **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** | **Intermediate-Term Bond 14.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 41571803 | &nbsp;&nbsp; 4199172 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4920877 | &nbsp;&nbsp;&nbsp;&nbsp; 495557 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Core Plus Bond Fund, <br> Class I <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11315178 | &nbsp;&nbsp; 1155789 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 57807858 |  |  |
| **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** | **International Bond 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8449019 | &nbsp;&nbsp;&nbsp;&nbsp; 890308 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 66256877 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $95,520,015)**<br>|  |  |  |  |  | **$93900677** |  |  |
| **Total Investments in Securities**<br> **(Cost $348,121,528)**<br>|  |  |  |  |  | **$387862433** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**6** 

------

Schwab Capital Trust <br>Schwab Target 2025 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.4% OF NET ASSETS |
| **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** | **U.S. Stocks 25.5%** |
| **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** | **Large-Cap 22.4%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $14329466 | &nbsp;&nbsp; $2052295 | &nbsp;&nbsp; ($1705033) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2723 | &nbsp;&nbsp; ($1131249) | &nbsp;&nbsp; $13548202 | &nbsp;&nbsp;&nbsp;&nbsp; 757306 | &nbsp;&nbsp; $2052295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8345262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8919733 | &nbsp;&nbsp;&nbsp;&nbsp; 401971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172419 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 83904912 | &nbsp;&nbsp;&nbsp;&nbsp; 1370689 | &nbsp;&nbsp;&nbsp;&nbsp; (7669022) | &nbsp;&nbsp;&nbsp; 2752255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595932 | &nbsp;&nbsp;&nbsp;&nbsp; 80954766 | &nbsp;&nbsp; 1296313 | &nbsp;&nbsp;&nbsp;&nbsp; 1370689 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10638293 | &nbsp;&nbsp;&nbsp;&nbsp; 1243941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (410119) | &nbsp;&nbsp;&nbsp;&nbsp; 11472115 | &nbsp;&nbsp;&nbsp;&nbsp; 608278 | &nbsp;&nbsp;&nbsp;&nbsp; 1243941 |
|  |  |  |  |  |  | &nbsp;&nbsp; 114894816 |  |  |
| **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** | **Mid-Cap 1.1%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5264531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5718798 | &nbsp;&nbsp;&nbsp;&nbsp; 103134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82411 |
| **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 10592938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (830081) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50321 | &nbsp;&nbsp;&nbsp;&nbsp; (341257) | &nbsp;&nbsp;&nbsp;&nbsp; 10423608 | &nbsp;&nbsp;&nbsp;&nbsp; 569285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 951687 |
|  |  |  |  |  |  | &nbsp;&nbsp; 131037222 |  |  |
| **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** | **International Stocks 12.8%** |
| **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** | **Developed Markets 12.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3271375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3271375 | &nbsp;&nbsp;&nbsp;&nbsp; 332457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 28797712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970651 | &nbsp;&nbsp;&nbsp;&nbsp; (7734681) | &nbsp;&nbsp;&nbsp;&nbsp; (356945) | &nbsp;&nbsp;&nbsp;&nbsp; 4617183 | &nbsp;&nbsp;&nbsp;&nbsp; 26293920 | &nbsp;&nbsp; 2618916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970651 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 41541259 | &nbsp;&nbsp;&nbsp;&nbsp; 1552392 | &nbsp;&nbsp; (14036619) | &nbsp;&nbsp; (2984734) | &nbsp;&nbsp; 10156641 | &nbsp;&nbsp;&nbsp;&nbsp; 36228939 | &nbsp;&nbsp; 1826976 | &nbsp;&nbsp;&nbsp;&nbsp; 1552392 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 65794234 |  |  |
| **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** | **Real Estate 3.5%** |
| **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** | **Global Real Estate 3.5%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 17761496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130050 | &nbsp;&nbsp;&nbsp;&nbsp; (1963127) | &nbsp;&nbsp;&nbsp;&nbsp; (385508) | &nbsp;&nbsp;&nbsp;&nbsp; 2559186 | &nbsp;&nbsp;&nbsp;&nbsp; 18102097 | &nbsp;&nbsp; 2734456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130050 |
| **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** | **Fixed Income 29.1%** |
| **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** | **Inflation-Protected Bond 4.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Treasury Inflation Protected <br> Securities Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 17537680 | &nbsp;&nbsp;&nbsp;&nbsp; 4365066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (570000) | &nbsp;&nbsp;&nbsp;&nbsp; (103636) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19392 | &nbsp;&nbsp;&nbsp;&nbsp; 21248502 | &nbsp;&nbsp; 2047062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525795 |
| **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** | **Intermediate-Term Bond 19.2%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 85748757 | &nbsp;&nbsp;&nbsp;&nbsp; 8656753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (600000) | &nbsp;&nbsp;&nbsp;&nbsp; (129398) | &nbsp;&nbsp;&nbsp;&nbsp; 4907737 | &nbsp;&nbsp;&nbsp;&nbsp; 98583849 | 10857252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634092 |
| **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** | **Short-Term Bond 5.8%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 32760535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194032 | &nbsp;&nbsp;&nbsp;&nbsp; (3500000) | &nbsp;&nbsp;&nbsp;&nbsp; (327029) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 965997 | &nbsp;&nbsp;&nbsp;&nbsp; 30093535 | &nbsp;&nbsp; 3164410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194000 |
|  |  |  |  |  |  | &nbsp;&nbsp; 149925886 |  |  |

---

**7**

------

Schwab Target 2025 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** | **Money Market Funds 2.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp; $12758249 | &nbsp;&nbsp;&nbsp;&nbsp; $126842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5117 | &nbsp;&nbsp; $12890208 | 12885054 | &nbsp;&nbsp;&nbsp;&nbsp; $133979 |
| **Total Affiliated Underlying Funds**<br> **(Cost $332,736,489)**<br>| **$369981090** | **$25140603** | **($38608563)** | **($1481951)** | **$22718468** | **$377749647** |  | **$10014401** |
| **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.9% OF NET ASSETS |
| **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** | **U.S. Stocks 8.6%** |
| **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** | **Large-Cap 7.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $17358414 | &nbsp;&nbsp;&nbsp;&nbsp; 337778 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 22767020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98987 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 40125434 |  |  |
| **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** | **Small-Cap 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3991661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96046 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 44117095 |  |  |
| **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** | **International Stocks 0.3%** |
| **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** | **Emerging Markets 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1392597 | &nbsp;&nbsp;&nbsp;&nbsp; 172351 |  |
| **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** | **Fixed Income 17.0%** |
| **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** | **Intermediate-Term Bond 13.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 41527578 | &nbsp;&nbsp; 4194705 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9894966 | &nbsp;&nbsp;&nbsp;&nbsp; 996472 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Core Plus Bond Fund, <br> Class I <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19798110 | &nbsp;&nbsp; 2022279 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 71220654 |  |  |
| **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** | **International Bond 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16475116 | &nbsp;&nbsp; 1736050 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 87695770 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $135,723,633)**<br>|  |  |  |  |  | **$133205462** |  |  |
| **Total Investments in Securities**<br> **(Cost $468,460,122)**<br>|  |  |  |  |  | **$510955109** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**8** 

------

Schwab Capital Trust <br>Schwab Target 2030 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 72.5% OF NET ASSETS |
| **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** | **U.S. Stocks 31.6%** |
| **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** | **Large-Cap 27.3%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $32445258 | &nbsp;&nbsp; $4646875 | &nbsp;&nbsp; ($2574320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $69070 | &nbsp;&nbsp; ($2558583) | &nbsp;&nbsp; $32028300 | &nbsp;&nbsp; 1790291 | &nbsp;&nbsp; $4646875 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 21830992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1051759 | &nbsp;&nbsp;&nbsp;&nbsp; 23333794 | &nbsp;&nbsp; 1051545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451043 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp; 171179899 | &nbsp;&nbsp;&nbsp;&nbsp; 2796433 | &nbsp;&nbsp;&nbsp;&nbsp; (7282605) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487257 | &nbsp;&nbsp;&nbsp;&nbsp; 6533944 | &nbsp;&nbsp; 173714928 | &nbsp;&nbsp; 2781664 | &nbsp;&nbsp;&nbsp;&nbsp; 2796433 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 29002992 | &nbsp;&nbsp;&nbsp;&nbsp; 4539521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1118099) | &nbsp;&nbsp;&nbsp;&nbsp; 32424414 | &nbsp;&nbsp; 1719216 | &nbsp;&nbsp;&nbsp;&nbsp; 3391334 |
|  |  |  |  |  |  | &nbsp;&nbsp; 261501436 |  |  |
| **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** | **Mid-Cap 1.3%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 11694004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825998 | &nbsp;&nbsp;&nbsp;&nbsp; 12703059 | &nbsp;&nbsp;&nbsp;&nbsp; 229090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183057 |
| **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** | **Small-Cap 3.0%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 26985882 | &nbsp;&nbsp;&nbsp;&nbsp; 2424455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (741168) | &nbsp;&nbsp;&nbsp;&nbsp; 28669169 | &nbsp;&nbsp; 1565766 | &nbsp;&nbsp;&nbsp;&nbsp; 2424455 |
|  |  |  |  |  |  | &nbsp;&nbsp; 302873664 |  |  |
| **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** | **International Stocks 16.5%** |
| **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** | **Developed Markets 16.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7871887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7871887 | &nbsp;&nbsp;&nbsp;&nbsp; 799989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 65372837 | &nbsp;&nbsp;&nbsp;&nbsp; 2259746 | &nbsp;&nbsp; (14208536) | &nbsp;&nbsp;&nbsp;&nbsp; (999667) | &nbsp;&nbsp; 10832164 | &nbsp;&nbsp;&nbsp;&nbsp; 63256544 | &nbsp;&nbsp; 6300453 | &nbsp;&nbsp;&nbsp;&nbsp; 2259746 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 93059884 | &nbsp;&nbsp;&nbsp;&nbsp; 3544258 | &nbsp;&nbsp; (25599391) | &nbsp;&nbsp; (5461765) | &nbsp;&nbsp; 21524492 | &nbsp;&nbsp;&nbsp;&nbsp; 87067478 | &nbsp;&nbsp; 4390695 | &nbsp;&nbsp;&nbsp;&nbsp; 3544258 |
|  |  |  |  |  |  | &nbsp;&nbsp; 158195909 |  |  |
| **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** | **Real Estate 4.4%** |
| **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** | **Global Real Estate 4.4%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 39349502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288118 | &nbsp;&nbsp;&nbsp;&nbsp; (2009844) | &nbsp;&nbsp;&nbsp;&nbsp; (394683) | &nbsp;&nbsp;&nbsp;&nbsp; 5210332 | &nbsp;&nbsp;&nbsp;&nbsp; 42443425 | &nbsp;&nbsp; 6411393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288118 |
| **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** | **Fixed Income 18.4%** |
| **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** | **Inflation-Protected Bond 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Treasury Inflation Protected <br> Securities Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10878574 | &nbsp;&nbsp;&nbsp;&nbsp; 3558533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (630000) | &nbsp;&nbsp;&nbsp;&nbsp; (105184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61463 | &nbsp;&nbsp;&nbsp;&nbsp; 13763386 | &nbsp;&nbsp; 1325952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317807 |
| **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** | **Intermediate-Term Bond 13.0%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp; 105717569 | &nbsp;&nbsp; 13068762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5913840 | &nbsp;&nbsp; 124700171 | 13733499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786165 |
| **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** | **Short-Term Bond 4.0%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 40460152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245639 | &nbsp;&nbsp;&nbsp;&nbsp; (3060000) | &nbsp;&nbsp;&nbsp;&nbsp; (284327) | &nbsp;&nbsp;&nbsp;&nbsp; 1092773 | &nbsp;&nbsp;&nbsp;&nbsp; 38454237 | &nbsp;&nbsp; 4043558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245596 |
|  |  |  |  |  |  | &nbsp;&nbsp; 176917794 |  |  |

---

**9**

------

Schwab Target 2030 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** | **Money Market Funds 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp; $14781105 | &nbsp;&nbsp;&nbsp;&nbsp; $146953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5928 | &nbsp;&nbsp; $14933986 | 14928015 | &nbsp;&nbsp;&nbsp;&nbsp; $155222 |
| **Total Affiliated Underlying Funds**<br> **(Cost $565,426,282)**<br>| **$662758650** | **$46025280** | **($55364696)** | **($6689299)** | **$48634843** | **$695364778** |  | **$21490109** |
| **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 26.6% OF NET ASSETS |
| **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** | **U.S. Stocks 10.0%** |
| **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** | **Large-Cap 9.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $34628346 | &nbsp;&nbsp;&nbsp;&nbsp; 673834 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 52464394 | &nbsp;&nbsp;&nbsp;&nbsp; 228106 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 87092740 |  |  |
| **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** | **Small-Cap 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9143850 | &nbsp;&nbsp;&nbsp;&nbsp; 220016 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 96236590 |  |  |
| **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** | **International Stocks 1.1%** |
| **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** | **Emerging Markets 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10685230 | &nbsp;&nbsp; 1322430 |  |
| **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** | **Fixed Income 15.5%** |
| **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** | **Intermediate-Term Bond 11.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 45847473 | &nbsp;&nbsp; 4631058 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27106095 | &nbsp;&nbsp; 2729717 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Core Plus Bond Fund, <br> Class I <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 36606091 | &nbsp;&nbsp; 3739131 |  |
|  |  |  |  |  |  | &nbsp;&nbsp; 109559659 |  |  |
| **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** | **International Bond 4.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38967541 | &nbsp;&nbsp; 4106169 |  |
|  |  |  |  |  |  | &nbsp;&nbsp; 148527200 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $259,341,010)**<br>|  |  |  |  |  | **$255449020** |  |  |
| **Total Investments in Securities**<br> **(Cost $824,767,292)**<br>|  |  |  |  |  | **$950813798** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**10** 

------

Schwab Capital Trust <br>Schwab Target 2035 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 73.8% OF NET ASSETS |
| **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** | **U.S. Stocks 36.3%** |
| **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** | **Large-Cap 31.2%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $19218390 | &nbsp;&nbsp; $2752496 | &nbsp;&nbsp;&nbsp;&nbsp; ($749388) | &nbsp;&nbsp;&nbsp;&nbsp; ($28065) | &nbsp;&nbsp; ($1446555) | &nbsp;&nbsp; $19746878 | 1103794 | &nbsp;&nbsp; $2752496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 20875291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1005716 | &nbsp;&nbsp;&nbsp;&nbsp; 22312305 | 1005512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431298 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 94686248 | &nbsp;&nbsp;&nbsp;&nbsp; 1546815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (297892) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10924 | &nbsp;&nbsp;&nbsp;&nbsp; 3881471 | &nbsp;&nbsp;&nbsp;&nbsp; 99827566 | 1598520 | &nbsp;&nbsp;&nbsp;&nbsp; 1546815 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 19285660 | &nbsp;&nbsp;&nbsp;&nbsp; 3627112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (743485) | &nbsp;&nbsp;&nbsp;&nbsp; 22169287 | 1175466 | &nbsp;&nbsp;&nbsp;&nbsp; 2255082 |
|  |  |  |  |  |  | &nbsp;&nbsp; 164056036 |  |  |
| **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7498973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8146046 | &nbsp;&nbsp; 146908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117388 |
| **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** | **Small-Cap 3.5%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 19558178 | &nbsp;&nbsp;&nbsp;&nbsp; 1670444 | &nbsp;&nbsp;&nbsp;&nbsp; (2269288) | &nbsp;&nbsp;&nbsp;&nbsp; (131111) | &nbsp;&nbsp;&nbsp;&nbsp; (404517) | &nbsp;&nbsp;&nbsp;&nbsp; 18423706 | 1006210 | &nbsp;&nbsp;&nbsp;&nbsp; 1670444 |
|  |  |  |  |  |  | &nbsp;&nbsp; 190625788 |  |  |
| **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** | **International Stocks 19.2%** |
| **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** | **Developed Markets 19.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5013344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5013344 | &nbsp;&nbsp; 509486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 39543453 | &nbsp;&nbsp;&nbsp;&nbsp; 1426849 | &nbsp;&nbsp;&nbsp;&nbsp; (6696150) | &nbsp;&nbsp; (1065554) | &nbsp;&nbsp;&nbsp;&nbsp; 7075745 | &nbsp;&nbsp;&nbsp;&nbsp; 40284343 | 4012385 | &nbsp;&nbsp;&nbsp;&nbsp; 1426849 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 55559513 | &nbsp;&nbsp;&nbsp;&nbsp; 2134222 | &nbsp;&nbsp; (12080993) | &nbsp;&nbsp; (3047930) | &nbsp;&nbsp; 12852185 | &nbsp;&nbsp;&nbsp;&nbsp; 55416997 | 2794604 | &nbsp;&nbsp;&nbsp;&nbsp; 2134222 |
|  |  |  |  |  |  | &nbsp;&nbsp; 100714684 |  |  |
| **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** | **Real Estate 5.1%** |
| **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** | **Global Real Estate 5.1%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 23285865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2849758 | &nbsp;&nbsp;&nbsp;&nbsp; 26675989 | 4029606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170500 |
| **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** | **Fixed Income 12.0%** |
| **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** | **Intermediate-Term Bond 9.4%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 41403828 | &nbsp;&nbsp;&nbsp;&nbsp; 5504477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2316130 | &nbsp;&nbsp;&nbsp;&nbsp; 49224435 | 5421193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307898 |
| **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** | **Short-Term Bond 2.6%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 15749824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93205 | &nbsp;&nbsp;&nbsp;&nbsp; (2192793) | &nbsp;&nbsp;&nbsp;&nbsp; (212768) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518473 | &nbsp;&nbsp;&nbsp;&nbsp; 13955941 | 1467502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93188 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 63180376 |  |  |
| **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** | **Money Market Funds 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6066373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6129118 | 6126667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63705 |
| **Total Affiliated Underlying Funds**<br> **(Cost $333,115,045)**<br>| **$362731596** | **$24918328** | **($24286504)** | **($4474504)** | **$28437039** | **$387325955** |  | **$12969885** |

---

**11**

------

Schwab Target 2035 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 25.3% OF NET ASSETS |
| **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** | **U.S. Stocks 10.5%** |
| **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** | **Large-Cap 9.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $21644054 | &nbsp;&nbsp; 421172 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27084437 | &nbsp;&nbsp; 117758 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 48728491 |  |  |
| **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** | **Small-Cap 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6401312 | &nbsp;&nbsp; 154026 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 55129803 |  |  |
| **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** | **International Stocks 2.0%** |
| **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** | **Emerging Markets 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10406265 | 1287904 |  |
| **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** | **Fixed Income 12.8%** |
| **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** | **Intermediate-Term Bond 9.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15039939 | 1519186 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16178841 | 1629289 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Core Plus Bond Fund, <br> Class I <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16326930 | 1667715 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 47545710 |  |  |
| **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** | **International Bond 3.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 19926364 | 2099722 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 67472074 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $136,332,071)**<br>|  |  |  |  |  | **$133008142** |  |  |
| **Total Investments in Securities**<br> **(Cost $469,447,116)**<br>|  |  |  |  |  | **$520334097** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**12** 

------

Schwab Capital Trust <br>Schwab Target 2040 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 74.6% OF NET ASSETS |
| **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** | **U.S. Stocks 39.0%** |
| **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** | **Large-Cap 33.2%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $41499241 | &nbsp;&nbsp; $5943604 | &nbsp;&nbsp; ($1694337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $45460 | &nbsp;&nbsp; ($3229682) | &nbsp;&nbsp;&nbsp;&nbsp; $42564286 | 2379222 | &nbsp;&nbsp; $5943604 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 40652024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1958505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43450428 | 1958109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 839899 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp; 202140292 | &nbsp;&nbsp;&nbsp;&nbsp; 3302208 | &nbsp;&nbsp;&nbsp;&nbsp; (6793016) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407883 | &nbsp;&nbsp;&nbsp;&nbsp; 7879675 | &nbsp;&nbsp;&nbsp;&nbsp; 206937042 | 3313644 | &nbsp;&nbsp;&nbsp;&nbsp; 3302208 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 45175783 | &nbsp;&nbsp;&nbsp;&nbsp; 8280877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1741579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51715081 | 2742051 | &nbsp;&nbsp;&nbsp;&nbsp; 5282426 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 344666837 |  |  |
| **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** | **Mid-Cap 1.6%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 15713224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1109892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17069090 | &nbsp;&nbsp; 307828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245974 |
| **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** | **Small-Cap 4.2%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 43425211 | &nbsp;&nbsp;&nbsp;&nbsp; 3901391 | &nbsp;&nbsp;&nbsp;&nbsp; (2461958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102240 | &nbsp;&nbsp;&nbsp; (1324527) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43642357 | 2383526 | &nbsp;&nbsp;&nbsp;&nbsp; 3901391 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 405378284 |  |  |
| **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** | **International Stocks 21.4%** |
| **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** | **Developed Markets 21.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International <br> Large Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 11061506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11061506 | 1124137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 83038692 | &nbsp;&nbsp;&nbsp;&nbsp; 2999273 | &nbsp;&nbsp;&nbsp;&nbsp; (9760128) | &nbsp;&nbsp; (1223358) | &nbsp;&nbsp; 13807592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88862071 | 8850804 | &nbsp;&nbsp;&nbsp;&nbsp; 2999273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab International Opportunities <br> Fund <br>| &nbsp;&nbsp; 121426506 | &nbsp;&nbsp;&nbsp;&nbsp; 4613596 | &nbsp;&nbsp; (25044499) | &nbsp;&nbsp; (5978652) | &nbsp;&nbsp; 27298288 | &nbsp;&nbsp;&nbsp;&nbsp; 122315239 | 6168192 | &nbsp;&nbsp;&nbsp;&nbsp; 4613596 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 222238816 |  |  |
| **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** | **Real Estate 5.6%** |
| **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** | **Global Real Estate 5.6%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 51215066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6267775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57857840 | 8739855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374999 |
| **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** | **Fixed Income 8.1%** |
| **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** | **Intermediate-Term Bond 6.2%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 58426328 | &nbsp;&nbsp;&nbsp;&nbsp; 2647503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3268368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64342199 | 7086145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434486 |
| **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** | **Short-Term Bond 1.9%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 21059178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127713 | &nbsp;&nbsp;&nbsp;&nbsp; (2070000) | &nbsp;&nbsp;&nbsp;&nbsp; (183351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 612118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19545658 | 2055274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127689 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83887857 |  |  |

---

**13**

------

Schwab Target 2040 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** | **Money Market Funds 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money <br> Fund, Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; $4918529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $48899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4969401 | 4967414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $51651 |
| **Total Affiliated Underlying Funds**<br> **(Cost $614,733,201)**<br>| **$728690074** | **$44387442** | **($47823938)** | **($6829778)** | **$55908398** | **$774332198** |  | **$28117196** |
| **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 24.5% OF NET ASSETS |
| **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** | **U.S. Stocks 12.1%** |
| **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $46673507 | &nbsp;&nbsp; 908222 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63201291 | &nbsp;&nbsp; 274788 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 109874798 |  |  |
| **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** | **Small-Cap 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15558628 | &nbsp;&nbsp; 374365 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 125433426 |  |  |
| **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** | **International Stocks 2.8%** |
| **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** | **Emerging Markets 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets <br> Equity Insights Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29714930 | 3677590 |  |
| **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** | **Fixed Income 9.6%** |
| **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** | **Intermediate-Term Bond 6.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20665190 | 2087393 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30299116 | 3051270 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Asset Core Plus Bond Fund, <br> Class I <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19995130 | 2042403 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70959436 |  |  |
| **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** | **International Bond 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28448504 | 2997735 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99407940 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $257,042,214)**<br>|  |  |  |  |  | **$254556296** |  |  |
| **Total Investments in Securities**<br> **(Cost $871,775,415)**<br>|  |  |  |  |  | **$1028888494** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**14** 

------

Schwab Capital Trust <br>Schwab Target 2045 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 76.7% OF NET ASSETS |
| **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** | **U.S. Stocks 42.2%** |
| **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** | **Large-Cap 35.6%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; $9148532 | &nbsp;&nbsp; $1310271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; ($701964) | &nbsp;&nbsp;&nbsp;&nbsp; $9756839 | &nbsp;&nbsp; 545380 | $1310271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10321556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 497265 | &nbsp;&nbsp;&nbsp;&nbsp; 11032071 | &nbsp;&nbsp; 497164 | &nbsp;&nbsp;&nbsp;&nbsp; 213250 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 42795978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 699125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1759272 | &nbsp;&nbsp;&nbsp;&nbsp; 45254375 | &nbsp;&nbsp; 724650 | &nbsp;&nbsp;&nbsp;&nbsp; 699125 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 13457746 | &nbsp;&nbsp;&nbsp;&nbsp; 2743275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (458767) | &nbsp;&nbsp;&nbsp;&nbsp; 15742254 | &nbsp;&nbsp; 834690 | &nbsp;&nbsp; 1573621 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 81785539 |  |  |
| **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** | **Mid-Cap 1.9%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3472391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 606185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4323847 | &nbsp;&nbsp;&nbsp;&nbsp; 77977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54356 |
| **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** | **Small-Cap 4.7%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 11345497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986096 | &nbsp;&nbsp; (1135018) | &nbsp;&nbsp;&nbsp;&nbsp; (215785) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95231) | &nbsp;&nbsp;&nbsp;&nbsp; 10885559 | &nbsp;&nbsp; 594514 | &nbsp;&nbsp;&nbsp;&nbsp; 986096 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 96994945 |  |  |
| **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** | **International Stocks 23.2%** |
| **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** | **Developed Markets 23.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2657377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2657377 | &nbsp;&nbsp; 270059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 18951106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691900 | &nbsp;&nbsp; (1225320) | &nbsp;&nbsp;&nbsp;&nbsp; (184292) | &nbsp;&nbsp;&nbsp;&nbsp; 3114352 | &nbsp;&nbsp;&nbsp;&nbsp; 21347746 | 2126270 | &nbsp;&nbsp;&nbsp;&nbsp; 691900 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 28764281 | &nbsp;&nbsp;&nbsp;&nbsp; 1104930 | &nbsp;&nbsp; (5539893) | &nbsp;&nbsp; (2191997) | &nbsp;&nbsp;&nbsp;&nbsp; 7250182 | &nbsp;&nbsp;&nbsp;&nbsp; 29387503 | 1481972 | &nbsp;&nbsp; 1104930 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 53392626 |  |  |
| **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** | **Real Estate 6.1%** |
| **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** | **Global Real Estate 6.1%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 11818634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 723759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1453337 | &nbsp;&nbsp;&nbsp;&nbsp; 13995730 | 2114159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86535 |
| **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** | **Fixed Income 5.0%** |
| **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** | **Intermediate-Term Bond 3.8%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6926746 | &nbsp;&nbsp;&nbsp;&nbsp; 1748266 | &nbsp;&nbsp;&nbsp;&nbsp; (270000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8777391 | &nbsp;&nbsp; 966673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49544 |
| **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** | **Short-Term Bond 1.2%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2687055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2758600 | &nbsp;&nbsp; 290074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16673 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11535991 |  |  |
| **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** | **Money Market Funds 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433379 | &nbsp;&nbsp; 433206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4504 |
| **Total Affiliated Underlying Funds**<br> **(Cost $165,453,050)**<br>| **$160118465** | **$13505371** | **($8170231)** | **($2658270)** | **$13557336** | **$176352671** |  | **$6790805** |

---

**15**

------

Schwab Target 2045 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 22.6% OF NET ASSETS |
| **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** | **U.S. Stocks 12.2%** |
| **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** | **Large-Cap 10.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $9316222 | &nbsp;&nbsp; 181285 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14978785 | &nbsp;&nbsp;&nbsp;&nbsp; 65125 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 24295007 |  |  |
| **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** | **Small-Cap 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3752811 | &nbsp;&nbsp;&nbsp;&nbsp; 90299 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 28047818 |  |  |
| **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** | **International Stocks 3.8%** |
| **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** | **Emerging Markets 3.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8785868 | 1087360 |  |
| **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** | **Fixed Income 6.6%** |
| **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** | **Intermediate-Term Bond 4.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2423574 | &nbsp;&nbsp; 244805 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5576042 | &nbsp;&nbsp; 561535 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2970058 | &nbsp;&nbsp; 303377 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10969674 |  |  |
| **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** | **International Bond 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4221201 | &nbsp;&nbsp; 444805 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15190875 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $52,578,455)**<br>|  |  |  |  |  | **$52024561** |  |  |
| **Total Investments in Securities**<br> **(Cost $218,031,505)**<br>|  |  |  |  |  | **$228377232** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**16** 

------

Schwab Capital Trust <br>Schwab Target 2050 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 78.1% OF NET ASSETS |
| **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** | **U.S. Stocks 44.2%** |
| **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** | **Large-Cap 37.0%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; $9356146 | &nbsp;&nbsp; $1806569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; ($717894) | &nbsp;&nbsp; $10444821 | &nbsp;&nbsp; 583836 | $1340006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10937885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526958 | &nbsp;&nbsp;&nbsp;&nbsp; 11690827 | &nbsp;&nbsp; 526851 | &nbsp;&nbsp;&nbsp;&nbsp; 225984 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 41211669 | &nbsp;&nbsp;&nbsp;&nbsp; 1773243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1723252 | &nbsp;&nbsp;&nbsp;&nbsp; 44708164 | &nbsp;&nbsp; 715903 | &nbsp;&nbsp;&nbsp;&nbsp; 673243 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 15306770 | &nbsp;&nbsp;&nbsp;&nbsp; 3558708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (432094) | &nbsp;&nbsp;&nbsp;&nbsp; 18433384 | &nbsp;&nbsp; 977380 | &nbsp;&nbsp; 1789828 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 85277196 |  |  |
| **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3531016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4506123 | &nbsp;&nbsp;&nbsp;&nbsp; 81265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55274 |
| **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** | **Small-Cap 5.2%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 11977527 | &nbsp;&nbsp;&nbsp;&nbsp; 1054752 | &nbsp;&nbsp;&nbsp;&nbsp; (695601) | &nbsp;&nbsp;&nbsp;&nbsp; (142729) | &nbsp;&nbsp;&nbsp;&nbsp; (187109) | &nbsp;&nbsp;&nbsp;&nbsp; 12006840 | &nbsp;&nbsp; 655753 | &nbsp;&nbsp; 1054752 |
|  |  |  |  |  |  | &nbsp;&nbsp; 101790159 |  |  |
| **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** | **International Stocks 24.3%** |
| **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** | **Developed Markets 24.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2783156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2783156 | &nbsp;&nbsp; 282841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 20423982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745675 | &nbsp;&nbsp; (1913632) | &nbsp;&nbsp;&nbsp;&nbsp; (362605) | &nbsp;&nbsp;&nbsp;&nbsp; 3464099 | &nbsp;&nbsp;&nbsp;&nbsp; 22357519 | 2226845 | &nbsp;&nbsp;&nbsp;&nbsp; 745675 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 29636568 | &nbsp;&nbsp;&nbsp;&nbsp; 1138437 | &nbsp;&nbsp; (5145171) | &nbsp;&nbsp; (2260358) | &nbsp;&nbsp;&nbsp;&nbsp; 7399751 | &nbsp;&nbsp;&nbsp;&nbsp; 30769227 | 1551650 | &nbsp;&nbsp; 1138437 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 55909902 |  |  |
| **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** | **Real Estate 6.4%** |
| **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** | **Global Real Estate 6.4%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 12421900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 687439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1542190 | &nbsp;&nbsp;&nbsp;&nbsp; 14651529 | 2213222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93054 |
| **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** |
| **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** | **Intermediate-Term Bond 2.5%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5588502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219900 | &nbsp;&nbsp;&nbsp;&nbsp; (350000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (79234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5753805 | &nbsp;&nbsp; 633679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39911 |
| **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** | **Short-Term Bond 0.7%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1651101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190343 | &nbsp;&nbsp;&nbsp;&nbsp; (260000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1614485 | &nbsp;&nbsp; 169767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10343 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7368290 |  |  |
| **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** | **Money Market Funds 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Variable Share Price Money Fund, <br> Ultra Shares, 4.40% <sup>(b)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28580 | &nbsp;&nbsp;&nbsp;&nbsp; 28569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297 |
| **Total Affiliated Underlying Funds**<br> **(Cost $169,425,350)**<br>| **$162071353** | **$14910183** | **($8364404)** | **($2857620)** | **$13988948** | **$179748460** |  | **$7166804** |

---

**17**

------

Schwab Target 2050 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 21.2% OF NET ASSETS |
| **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** | **U.S. Stocks 12.0%** |
| **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** | **Large-Cap 10.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $8336861 | &nbsp;&nbsp; 162227 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15294420 | &nbsp;&nbsp;&nbsp;&nbsp; 66497 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 23631281 |  |  |
| **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** | **Small-Cap 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4028401 | &nbsp;&nbsp;&nbsp;&nbsp; 96930 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27659682 |  |  |
| **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** | **International Stocks 4.6%** |
| **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** | **Emerging Markets 4.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10621666 | 1314563 |  |
| **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** | **Fixed Income 4.6%** |
| **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** | **Intermediate-Term Bond 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1249430 | &nbsp;&nbsp; 126205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4555817 | &nbsp;&nbsp; 458793 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944587 | &nbsp;&nbsp; 198630 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7749834 |  |  |
| **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** | **International Bond 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2886921 | &nbsp;&nbsp; 304207 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10636755 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $48,762,061)**<br>|  |  |  |  |  | **$48918103** |  |  |
| **Total Investments in Securities**<br> **(Cost $218,187,411)**<br>|  |  |  |  |  | **$228666563** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

<sup>(b)</sup> The rate shown is the annualized 7-day yield.

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**18** 

------

Schwab Capital Trust <br>Schwab Target 2055 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 79.6% OF NET ASSETS |
| **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** | **U.S. Stocks 45.8%** |
| **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** | **Large-Cap 38.3%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; $6240346 | &nbsp;&nbsp; $1296436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; ($478819) | &nbsp;&nbsp;&nbsp;&nbsp; $7057963 | &nbsp;&nbsp; 394520 | &nbsp;&nbsp;&nbsp; $893754 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7508334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 366087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8786393 | &nbsp;&nbsp; 395962 | &nbsp;&nbsp;&nbsp;&nbsp; 161971 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 27114769 | &nbsp;&nbsp;&nbsp;&nbsp; 1512953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 1143538 | &nbsp;&nbsp;&nbsp;&nbsp; 29771260 | &nbsp;&nbsp; 476722 | &nbsp;&nbsp;&nbsp;&nbsp; 442953 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 11008755 | &nbsp;&nbsp;&nbsp;&nbsp; 2722315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (318242) | &nbsp;&nbsp;&nbsp;&nbsp; 13412828 | &nbsp;&nbsp; 711179 | &nbsp;&nbsp; 1287259 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 59028444 |  |  |
| **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** | **Mid-Cap 2.0%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2273781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 649196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 160606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3083583 | &nbsp;&nbsp;&nbsp;&nbsp; 55610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35594 |
| **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** | **Small-Cap 5.5%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8219833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722804 | &nbsp;&nbsp;&nbsp;&nbsp; (282427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (54965) | &nbsp;&nbsp;&nbsp;&nbsp; (170514) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8434731 | &nbsp;&nbsp; 460663 | &nbsp;&nbsp;&nbsp;&nbsp; 722804 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 70546758 |  |  |
| **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** | **International Stocks 24.9%** |
| **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** | **Developed Markets 24.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1909148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1909148 | &nbsp;&nbsp; 194019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 14069333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508152 | &nbsp;&nbsp; (1383489) | &nbsp;&nbsp;&nbsp;&nbsp; (263184) | &nbsp;&nbsp; 2405868 | &nbsp;&nbsp;&nbsp;&nbsp; 15336680 | 1527558 | &nbsp;&nbsp;&nbsp;&nbsp; 508152 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 20055778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770408 | &nbsp;&nbsp; (3317915) | &nbsp;&nbsp; (1406054) | &nbsp;&nbsp; 4908957 | &nbsp;&nbsp;&nbsp;&nbsp; 21011174 | 1059565 | &nbsp;&nbsp;&nbsp;&nbsp; 770408 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 38257002 |  |  |
| **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** | **Real Estate 6.5%** |
| **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** | **Global Real Estate 6.5%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8520415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 1051101 | &nbsp;&nbsp;&nbsp;&nbsp; 10049835 | 1518102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62387 |
| **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** | **Fixed Income 2.4%** |
| **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** | **Intermediate-Term Bond 1.9%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2198825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 128422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2875304 | &nbsp;&nbsp; 316663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18063 |
| **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** | **Short-Term Bond 0.5%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1152808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5076 | &nbsp;&nbsp;&nbsp;&nbsp; (340000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834111 | &nbsp;&nbsp;&nbsp;&nbsp; 87709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5076 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3709415 |  |  |
| **Total Affiliated Underlying Funds**<br> **(Cost $117,399,775)**<br>| **$108362977** | **$12034836** | **($5323831)** | **($1755460)** | **$9244488** | **$122563010** |  | **$4908421** |

---

**19**

------

Schwab Target 2055 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 19.9% OF NET ASSETS |
| **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** | **U.S. Stocks 11.5%** |
| **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** | **Large-Cap 9.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Large Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $4452452 | &nbsp;&nbsp;&nbsp;&nbsp; 86640 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 10373710 | &nbsp;&nbsp;&nbsp;&nbsp; 45103 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14826162 |  |  |
| **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; ClearBridge Small Cap Growth Fund, <br> Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2830781 | &nbsp;&nbsp;&nbsp;&nbsp; 68113 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17656943 |  |  |
| **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** | **International Stocks 5.2%** |
| **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** | **Emerging Markets 5.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7946006 | &nbsp;&nbsp; 983417 |  |
| **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** | **Fixed Income 3.2%** |
| **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** | **Intermediate-Term Bond 2.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Baird Aggregate Bond Fund, Institutional <br> Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184432 | &nbsp;&nbsp;&nbsp;&nbsp; 18629 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond <br> Fund, Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2440315 | &nbsp;&nbsp; 245752 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 971130 | &nbsp;&nbsp;&nbsp;&nbsp; 99196 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3595877 |  |  |
| **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** | **International Bond 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund <br> (U.S. Dollar-Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1413235 | &nbsp;&nbsp; 148918 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5009112 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $30,587,787)**<br>|  |  |  |  |  | **$30612061** |  |  |
| **Total Investments in Securities**<br> **(Cost $147,987,562)**<br>|  |  |  |  |  | **$153175071** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**20** 

------

Schwab Capital Trust <br>Schwab Target 2060 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.2% OF NET ASSETS |
| **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** | **U.S. Stocks 47.4%** |
| **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** | **Large-Cap 39.6%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp; $1906023 | &nbsp;&nbsp;&nbsp; $422984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; ($140415) | &nbsp;&nbsp; $2188592 | 122336 | &nbsp;&nbsp;&nbsp; $272984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company Index <br> Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2379828 | &nbsp;&nbsp;&nbsp;&nbsp; 274170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 119341 | &nbsp;&nbsp;&nbsp;&nbsp; 2773339 | 124981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49169 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 7909075 | &nbsp;&nbsp;&nbsp;&nbsp; 802736 | &nbsp;&nbsp;&nbsp;&nbsp; (120000) | &nbsp;&nbsp;&nbsp;&nbsp; (12447) | &nbsp;&nbsp;&nbsp;&nbsp; 361402 | &nbsp;&nbsp;&nbsp;&nbsp; 8940766 | 143167 | &nbsp;&nbsp;&nbsp;&nbsp; 132735 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3813622 | &nbsp;&nbsp;&nbsp;&nbsp; 740928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (118204) | &nbsp;&nbsp;&nbsp;&nbsp; 4436346 | 235225 | &nbsp;&nbsp;&nbsp;&nbsp; 445929 |
|  |  |  |  |  |  | &nbsp;&nbsp; 18339043 |  |  |
| **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 752172 | &nbsp;&nbsp;&nbsp;&nbsp; 131774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940092 | &nbsp;&nbsp; 16954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11774 |
| **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** | **Small-Cap 5.7%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 2301005 | &nbsp;&nbsp;&nbsp;&nbsp; 498071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88344) | &nbsp;&nbsp;&nbsp;&nbsp; (21148) | &nbsp;&nbsp;&nbsp;&nbsp; (42215) | &nbsp;&nbsp;&nbsp;&nbsp; 2647369 | 144586 | &nbsp;&nbsp;&nbsp;&nbsp; 218071 |
|  |  |  |  |  |  | &nbsp;&nbsp; 21926504 |  |  |
| **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** | **International Stocks 25.4%** |
| **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** | **Developed Markets 25.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large <br> Company Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 586113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586113 | &nbsp;&nbsp; 59564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 4161272 | &nbsp;&nbsp;&nbsp;&nbsp; 291480 | &nbsp;&nbsp;&nbsp;&nbsp; (382901) | &nbsp;&nbsp;&nbsp;&nbsp; (69399) | &nbsp;&nbsp;&nbsp;&nbsp; 707678 | &nbsp;&nbsp;&nbsp;&nbsp; 4708130 | 468937 | &nbsp;&nbsp;&nbsp;&nbsp; 156480 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 6142873 | &nbsp;&nbsp;&nbsp;&nbsp; 285248 | &nbsp;&nbsp; (1014981) | &nbsp;&nbsp; (488277) | &nbsp;&nbsp; 1553615 | &nbsp;&nbsp;&nbsp;&nbsp; 6478478 | 326701 | &nbsp;&nbsp;&nbsp;&nbsp; 235248 |
|  |  |  |  |  |  | &nbsp;&nbsp; 11772721 |  |  |
| **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** | **Real Estate 6.7%** |
| **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** | **Global Real Estate 6.7%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 2650647 | &nbsp;&nbsp;&nbsp;&nbsp; 124722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 332724 | &nbsp;&nbsp;&nbsp;&nbsp; 3108093 | 469500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19723 |
| **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** | **Fixed Income 1.7%** |
| **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** | **Intermediate-Term Bond 1.3%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436257 | &nbsp;&nbsp;&nbsp;&nbsp; 125061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585722 | &nbsp;&nbsp; 64507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3244 |
| **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206341 | &nbsp;&nbsp; 21697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1247 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792063 |  |  |
| **Total Affiliated Underlying Funds**<br> **(Cost $37,361,227)**<br>| **$32653763** | **$4284534** | **($1606226)** | **($591271)** | **$2858581** | **$37599381** |  | **$1546604** |

---

**21**

------

Schwab Target 2060 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.3% OF NET ASSETS |
| **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** | **U.S. Stocks 10.7%** |
| **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** |
| ClearBridge Large Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp; $1281486 | &nbsp;&nbsp; 24936 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2812521 | &nbsp;&nbsp; 12228 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4094007 |  |  |
| **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** | **Small-Cap 1.9%** |
| ClearBridge Small Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 884631 | &nbsp;&nbsp; 21286 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 4978638 |  |  |
| **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** | **International Stocks 5.6%** |
| **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** | **Emerging Markets 5.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity <br> Insights Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2571741 | 318285 |  |
| **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** | **Fixed Income 2.0%** |
| **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** | **Intermediate-Term Bond 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Loomis Sayles Investment Grade Bond Fund, <br> Class Y <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 547586 | &nbsp;&nbsp; 55145 |  |
| Western Asset Core Plus Bond Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103115 | &nbsp;&nbsp; 10533 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650701 |  |  |
| **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** | **International Bond 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund (U.S. Dollar-<br> Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263143 | &nbsp;&nbsp; 27728 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 913844 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $8,520,244)**<br>|  |  |  |  |  | **$8464223** |  |  |
| **Total Investments in Securities**<br> **(Cost $45,881,471)**<br>|  |  |  |  |  | **$46063604** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**22** 

------

Schwab Capital Trust <br>Schwab Target 2065 Fund

------

**Portfolio Holdings** as of January 31, 2023 (Unaudited)

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

The following are the portfolio holdings as of the report date, including a summary of the fund's transactions with its affiliated underlying funds during the period. 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.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup> <br>|
| **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS | **AFFILIATED UNDERLYING FUNDS** 81.3% OF NET ASSETS |
| **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** | **U.S. Stocks 47.9%** |
| **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** | **Large-Cap 40.0%** |
| Schwab Core Equity Fund  | &nbsp;&nbsp;&nbsp; $320507 | &nbsp;&nbsp;&nbsp; $121117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | ($23577) | &nbsp;&nbsp;&nbsp; $418047 | 23368 | &nbsp;&nbsp; $48117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental US Large Company Index <br> Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp; 395448 | &nbsp;&nbsp;&nbsp;&nbsp; 126658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21217 | &nbsp;&nbsp;&nbsp;&nbsp; 543323 | 24485 | &nbsp;&nbsp;&nbsp;&nbsp; 8658 |
| Schwab S&P 500 Index Fund  | &nbsp;&nbsp; 1318648 | &nbsp;&nbsp;&nbsp;&nbsp; 337533 | &nbsp;&nbsp;&nbsp;&nbsp; (5896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (574) | &nbsp;&nbsp;&nbsp;&nbsp; 63190 | &nbsp;&nbsp; 1712901 | 27428 | &nbsp;&nbsp;&nbsp;&nbsp; 23131 |
| Schwab Select Large Cap Growth Fund <sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 623625 | &nbsp;&nbsp;&nbsp;&nbsp; 253406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (19500) | &nbsp;&nbsp;&nbsp;&nbsp; 857531 | 45468 | &nbsp;&nbsp;&nbsp;&nbsp; 79406 |
|  |  |  |  |  |  | &nbsp;&nbsp; 3531802 |  |  |
| **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** | **Mid-Cap 2.1%** |
| Schwab U.S. Mid-Cap Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 117344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61049 | &nbsp;&nbsp;&nbsp;&nbsp; (7108) | &nbsp;&nbsp;&nbsp;&nbsp; (1128) | &nbsp;&nbsp;&nbsp;&nbsp; 12241 | &nbsp;&nbsp;&nbsp;&nbsp; 182398 | &nbsp;&nbsp; 3289 | &nbsp;&nbsp;&nbsp;&nbsp; 2050 |
| **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** | **Small-Cap 5.8%** |
| Schwab Small-Cap Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 375251 | &nbsp;&nbsp;&nbsp;&nbsp; 150362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (11032) | &nbsp;&nbsp;&nbsp;&nbsp; 514581 | 28104 | &nbsp;&nbsp;&nbsp;&nbsp; 39361 |
|  |  |  |  |  |  | &nbsp;&nbsp; 4228781 |  |  |
| **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** | **International Stocks 25.7%** |
| **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** | **Developed Markets 25.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Schwab Fundamental International Large Company <br> Index Fund <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 113126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 113126 | 11497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Schwab International Core Equity Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 737144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66913 | &nbsp;&nbsp;&nbsp;&nbsp; (10403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (933) | &nbsp;&nbsp; 115896 | &nbsp;&nbsp;&nbsp;&nbsp; 908617 | 90500 | &nbsp;&nbsp;&nbsp;&nbsp; 26913 |
| Schwab International Opportunities Fund  | &nbsp;&nbsp; 1011213 | &nbsp;&nbsp;&nbsp;&nbsp; 136438 | &nbsp;&nbsp;&nbsp;&nbsp; (82099) | &nbsp;&nbsp; (43328) | &nbsp;&nbsp; 224195 | &nbsp;&nbsp; 1246419 | 62855 | &nbsp;&nbsp;&nbsp;&nbsp; 39438 |
|  |  |  |  |  |  | &nbsp;&nbsp; 2268162 |  |  |
| **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** | **Real Estate 6.8%** |
| **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** | **Global Real Estate 6.8%** |
| Schwab Global Real Estate Fund  | &nbsp;&nbsp;&nbsp;&nbsp; 434086 | &nbsp;&nbsp;&nbsp;&nbsp; 101400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 59077 | &nbsp;&nbsp;&nbsp;&nbsp; 594563 | 89813 | &nbsp;&nbsp;&nbsp;&nbsp; 3401 |
| **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** | **Fixed Income 0.9%** |
| **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** | **Intermediate-Term Bond 0.5%** |
| Schwab U.S. Aggregate Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41401 | &nbsp;&nbsp; 4560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 |
| **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** | **Short-Term Bond 0.4%** |
| Schwab Short-Term Bond Index Fund  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40809 | &nbsp;&nbsp; 4291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82210 |  |  |
| **Total Affiliated Underlying Funds**<br> **(Cost $7,904,413)**<br>| **$5393472** | **$1487496** | **($105506)** | **($45963)** | **$444217** | **$7173716** |  | **$270970** |

---

**23**

------

Schwab Target 2065 Fund

**Portfolio Holdings** (Unaudited) continued

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| SECURITY | VALUE AT<br> 10/31/22<br>| PURCHASES | SALES | REALIZED<br> GAINS (LOSSES)<br>| NET CHANGE IN<br> UNREALIZED<br> APPRECIATION<br> (DEPRECIATION)<br>| VALUE AT<br> 1/31/23<br>| BALANCE<br> OF SHARES<br> HELD AT<br> 1/31/23<br>| DISTRIBUTIONS<br> RECEIVED<sup>(a)</sup><br>|
| **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS | **UNAFFILIATED UNDERLYING FUNDS** 18.2% OF NET ASSETS |
| **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** | **U.S. Stocks 10.8%** |
| **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** | **Large-Cap 8.8%** |
| ClearBridge Large Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp; $229066 | &nbsp;&nbsp; 4457 |  |
| Dodge & Cox Stock Fund, Class I  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 545466 | &nbsp;&nbsp; 2372 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 774532 |  |  |
| **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** | **Small-Cap 2.0%** |
| ClearBridge Small Cap Growth Fund, Class IS <sup>\*</sup> <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 174680 | &nbsp;&nbsp; 4203 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 949212 |  |  |
| **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** | **International Stocks 5.9%** |
| **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** | **Emerging Markets 5.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Emerging Markets Equity Insights <br> Fund, Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 519306 | 64271 |  |
| **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** | **Fixed Income 1.5%** |
| **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** | **Intermediate-Term Bond 1.0%** |
| Loomis Sayles Investment Grade Bond Fund, Class Y  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84494 | &nbsp;&nbsp; 8509 |  |
| **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** | **International Bond 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO International Bond Fund (U.S. Dollar-<br> Hedged), Institutional Class <br>|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48956 | &nbsp;&nbsp; 5159 |  |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 133450 |  |  |
| **Total Unaffiliated Underlying Funds**<br> **(Cost $1,762,699)**<br>|  |  |  |  |  | **$1601968** |  |  |
| **Total Investments in Securities**<br> **(Cost $9,667,112)**<br>|  |  |  |  |  | **$8775684** |  |  |

---

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

<sup>\*</sup> Non-income producing security.

<sup>(a)</sup> Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. Amounts shown are only presented for affiliated underlying funds. 

At January 31, 2023, all of the fund's investment securities were classified as Level 1. 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.

**24** 

------

Schwab Target Funds

**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 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 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 funds' 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.

• **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 a fund's securities when market prices are not "readily available" or are unreliable. For example, a security may be fair valued when it's de-listed or its trading is halted or suspended; when a security's primary pricing source is unable or unwilling to provide a price; or when a security's primary trading market is closed during regular market hours. Fair value determinations are made in good faith in accordance with adopted valuation procedures. The Valuation Designee considers a number of factors, including unobservable market inputs, when arriving at fair value. The Valuation Designee may employ methods such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. Due to the subjective and variable nature of fair value pricing, there can be no assurance that 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 generally accepted accounting principles in the United States of America (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, and whose values are therefore classified as Level 1 prices, include active listed equities and underlying funds. Underlying 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.

&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.

REG87628JAN23

**25**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SCHWAB CAPITAL TRUST

- **b. Investment Company Act file number:** 811-07704

- **c. CIK number of Registrant:** 0000904333

- **d. LEI of Registrant:** 549300PEK1H7N1HLC797

- **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 Target 2015 Fund

- **b. EDGAR series identifier (if any):** S000020935

- **c. LEI of Series:** 549300QVB1LXDLW3I336

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $59174567.51

**Total Liabilities:** $11290.45

**Net Assets:** $59163277.06

**Cash Not Reported:** $164877.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000059131 | 4.87%                | -2.26%               | 4.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $92933.29                | $2599453.70                                |
| Month 2  | $-69584.43               | $-2407865.41                               |
| Month 3  | $-55920.52               | $2703427.98                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Baird Aggregate Bond Fund                                 | Baird Aggregate Bond Fund                                 | CUSIP: 057071854<br>LEI: 549300NWEXVVDQ3ROW37 | Long             | EC               | RF                | US        |    657844 | NS      | $6512654.13   | 11.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Schwab International Core Equity Fund                     | Schwab International Core Equity Fund                     | CUSIP: 808509210<br>LEI: 549300O8SH1VZD5EOI67 | Long             | EC               | RF                | US        |    251595 | NS      | $2526011.94   | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Small-Cap Equity Fund                              | Schwab Small-Cap Equity Fund                              | CUSIP: 808509673<br>LEI: 54930086LYMXICNS1162 | Long             | EC               | RF                | US        |     53703 | NS      | $983299.92    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Global Real Estate Fund                            | Schwab Global Real Estate Fund                            | CUSIP: 808517759<br>LEI: 54930056NJ1FRH4T9924 | Long             | EC               | RF                | US        |    275386 | NS      | $1823058.27   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearBridge Small Cap Growth Fund                         | ClearBridge Small Cap Growth Fund                         | CUSIP: 52470H666<br>LEI: 5493003T8SLPG056ZG32 | Long             | EC               | RF                | US        |      7458 | NS      | $309935.86    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Core Equity Fund                                   | Schwab Core Equity Fund                                   | CUSIP: 808509806<br>LEI: 549300L2MFZ33S0CO521 | Long             | EC               | RF                | US        |     60820 | NS      | $1088068.91   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Select Large Cap Growth Fund                       | Schwab Select Large Cap Growth Fund                       | CUSIP: 51855Q549<br>LEI: 54930017OMFIVKDL2J78 | Long             | EC               | RF                | US        |     60879 | NS      | $1148180.41   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearBridge Large Cap Growth Fund                         | ClearBridge Large Cap Growth Fund                         | CUSIP: 52469H255<br>LEI: 549300PO07BEBIPVM094 | Long             | EC               | RF                | US        |     34675 | NS      | $1781926.56   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab International Opportunities Fund                   | Schwab International Opportunities Fund                   | CUSIP: 808509640<br>LEI: 5493000Y9R7KH3YK4711 | Long             | EC               | RF                | US        |    182515 | NS      | $3619269.14   | 6.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Loomis Sayles Investment Grade Bond Fund                  | Loomis Sayles Investment Grade Bond Fund                  | CUSIP: 543487136<br>LEI: LXBMZ6T88WCKRZUWOE84 | Long             | EC               | RF                | US        |     70725 | NS      | $702298.71    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO International Bond Fund U.S. Dollar-Hedged          | PIMCO International Bond Fund U.S. Dollar-Hedged          | CUSIP: 693390882<br>LEI: 549300NKY72DZUNDF872 | Long             | EC               | RF                | US        |    135181 | NS      | $1282869.46   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab S&P 500 Index Fund                                 | Schwab S&P 500 Index Fund                                 | CUSIP: 808509855<br>LEI: 549300QXTQYX6BJFPP75 | Long             | EC               | RF                | US        |    128600 | NS      | $8031052.83   | 13.57%            |  |  |  | No            |                  1 | On Loan: No      |
| Schwab U.S. Aggregate Bond Index Fund                     | Schwab U.S. Aggregate Bond Index Fund                     | CUSIP: 808517718<br>LEI: 549300TE25ZKVNXKCS55 | Long             | EC               | RF                | US        |   1550602 | NS      | $14079466.08  | 23.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Dodge & Cox Stock Fund                                    | Dodge & Cox Stock Fund                                    | CUSIP: 256219106<br>LEI: 549300N2LAR50107F166 | Long             | EC               | RF                | US        |      7583 | NS      | $1744180.39   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset Core Plus Bond Fund                         | Western Asset Core Plus Bond Fund                         | CUSIP: 957663669<br>LEI: 549300M92SFKO7RZX103 | Long             | EC               | RF                | US        |    155752 | NS      | $1524816.05   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab U.S. Mid-Cap Index Fund                            | Schwab U.S. Mid-Cap Index Fund                            | CUSIP: 80850L726<br>LEI: 54930023JW7XDBK5VU88 | Long             | EC               | RF                | US        |      8753 | NS      | $485373.92    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Treasury Inflation Protected Securities Index Fund | Schwab Treasury Inflation Protected Securities Index Fund | CUSIP: 808517817<br>LEI: 5493000LZN1FM8F1C238 | Long             | EC               | RF                | US        |    353002 | NS      | $3664162.28   | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Short-Term Bond Index Fund                         | Schwab Short-Term Bond Index Fund                         | CUSIP: 808517692<br>LEI: 549300P4KD6GXEL7FV90 | Long             | EC               | RF                | US        |    456846 | NS      | $4344604.19   | 7.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Fundamental US Large Company Index Fund            | Schwab Fundamental US Large Company Index Fund            | CUSIP: 808509442<br>LEI: 5493000DZZS8PWI2NO50 | Long             | EC               | RF                | US        |     59173 | NS      | $1313046.47   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Variable Share Price Money Fund                    | Schwab Variable Share Price Money Fund                    | CUSIP: 808515597<br>LEI: 5493007W93Q67BM3O338 | Long             | STIV             | RF                | US        |   1977168 | NS      | $1977959.14   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** SCHWAB CAPITAL TRUST

**Signature:** Dana Smith

**Name of Signer:** Dana Smith

**Title:** CFO