Schwab Strategic Trust
Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.7% OF NET ASSETS
 
Automobiles & Components 2.0%
Adient PLC *
15,047
343,974
Aptiv PLC *
3,090
209,935
BorgWarner, Inc.
14,651
1,052,235
Dana, Inc.
11,193
396,344
Dauch Corp. *
26,938
178,868
Dorman Products, Inc. *
612
75,839
Ford Motor Co.
420,397
7,331,724
Fox Factory Holding Corp. *
4,032
72,737
General Motors Co.
106,853
8,894,444
Gentex Corp.
11,412
275,714
Gentherm, Inc. *
2,058
71,392
Goodyear Tire & Rubber Co. *
51,890
316,529
Harley-Davidson, Inc.
10,471
253,189
LCI Industries
1,758
191,657
Lear Corp.
6,823
976,508
Patrick Industries, Inc.
1,450
131,254
Phinia, Inc.
2,600
200,876
Rivian Automotive, Inc., Class A *
2,798
45,607
Standard Motor Products, Inc.
1,497
58,667
Tesla, Inc. *
9,552
4,162,666
Thor Industries, Inc.
5,286
418,017
Versigent PLC *
1,025
45,223
Visteon Corp.
1,226
145,024
Winnebago Industries, Inc.
5,165
153,349
 
26,001,772
 
Banks 5.2%
Ameris Bancorp
1,360
114,662
Associated Banc-Corp.
4,486
124,756
Atlantic Union Bankshares Corp.
3,145
118,315
Axos Financial, Inc. *
889
77,263
BancFirst Corp.
98
10,808
Bancorp, Inc. *
654
36,075
Bank of America Corp.
206,518
10,656,329
Bank of Hawaii Corp.
1,125
86,175
Bank OZK
3,817
184,705
BankUnited, Inc.
3,786
175,633
Banner Corp.
929
60,385
Beacon Financial Corp.
2,283
66,412
BOK Financial Corp.
672
86,043
Capitol Federal Financial, Inc.
5,147
39,992
Cathay General Bancorp
2,227
128,409
Citigroup, Inc.
83,288
10,485,959
Citizens Financial Group, Inc.
16,590
1,032,893
City Holding Co.
281
34,931
Columbia Banking System, Inc.
6,486
192,245
Commerce Bancshares, Inc.
2,420
126,372
Community Financial System, Inc.
1,180
75,095
Cullen/Frost Bankers, Inc.
1,148
155,577
Customers Bancorp, Inc. *
931
69,955
CVB Financial Corp.
4,040
82,254
Dime Community Bancshares, Inc.
1,231
46,064
Eagle Bancorp, Inc.
2,807
76,603
East West Bancorp, Inc.
2,807
343,970
Eastern Bankshares, Inc.
1,949
38,454
Enterprise Financial Services Corp.
904
54,791
SECURITY
NUMBER
OF SHARES
VALUE ($)
FB Financial Corp.
671
35,355
Fifth Third Bancorp
29,716
1,483,720
First BanCorp
1,395
33,452
First Bancorp/Southern Pines NC
747
43,946
First Busey Corp.
1,931
52,851
First Citizens BancShares, Inc., Class A
176
350,330
First Commonwealth Financial Corp.
2,707
51,271
First Financial Bancorp
2,956
90,927
First Financial Bankshares, Inc.
1,795
58,661
First Hawaiian, Inc.
4,572
123,353
First Horizon Corp.
13,087
317,098
First Interstate BancSystem, Inc.,
Class A
3,300
117,480
First Merchants Corp.
1,667
67,180
Flagstar Bank NA
16,146
227,013
FNB Corp.
10,227
178,768
Fulton Financial Corp.
4,955
107,474
Glacier Bancorp, Inc.
2,173
103,326
Hancock Whitney Corp.
2,157
146,935
Hilltop Holdings, Inc.
2,526
95,281
Home BancShares, Inc.
4,386
117,369
Hope Bancorp, Inc.
6,437
80,720
Huntington Bancshares, Inc.
52,276
855,235
Independent Bank Corp.
1,080
85,406
International Bancshares Corp.
1,171
84,499
JPMorgan Chase & Co.
56,708
16,973,271
KeyCorp
37,296
795,524
Lakeland Financial Corp.
509
30,861
M&T Bank Corp.
3,944
852,338
Mechanics Bancorp, Class A
1,921
28,277
National Bank Holdings Corp., Class A
917
38,358
NBT Bancorp, Inc.
1,144
52,899
Northwest Bancshares, Inc.
4,654
65,854
OceanFirst Financial Corp.
2,211
41,545
OFG Bancorp
415
18,907
Old National Bancorp
6,381
153,208
Park National Corp.
292
50,096
Pathward Financial, Inc.
439
36,103
Pinnacle Financial Partners, Inc.
2,963
289,604
PNC Financial Services Group, Inc.
11,793
2,607,668
Popular, Inc.
579
85,999
Preferred Bank
407
38,999
Prosperity Bancshares, Inc.
2,472
170,469
Provident Financial Services, Inc.
3,039
67,435
Regions Financial Corp.
28,536
799,008
Renasant Corp.
1,644
66,944
S&T Bancorp, Inc.
1,052
47,435
Seacoast Banking Corp. of Florida
1,343
40,706
ServisFirst Bancshares, Inc.
633
49,368
Simmons First National Corp., Class A
5,627
120,699
Southside Bancshares, Inc.
1,195
39,148
Southstate Bank Corp.
1,930
182,868
Texas Capital Bancshares, Inc. *
908
90,337
Towne Bank
1,683
57,340
TriCo Bancshares
802
40,742
Triumph Financial, Inc. *
601
42,821
Truist Financial Corp.
48,770
2,351,202
Trustmark Corp.
1,520
67,123
U.S. Bancorp
52,987
2,906,337
UMB Financial Corp.
1,010
132,573
United Bankshares, Inc.
3,620
157,144
  
1

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
United Community Banks, Inc.
2,693
88,734
Valley National Bancorp
15,026
206,908
WaFd, Inc.
2,811
99,959
Webster Financial Corp.
3,735
271,609
Wells Fargo & Co.
106,936
8,291,817
WesBanco, Inc.
2,363
81,878
Westamerica BanCorp
708
39,287
Western Alliance Bancorp
2,376
189,248
Wintrust Financial Corp.
1,236
185,684
WSFS Financial Corp.
1,481
105,817
Zions Bancorp NA
7,174
448,016
 
69,286,942
 
Capital Goods 6.7%
3M Co.
14,373
2,200,937
A.O. Smith Corp.
3,809
216,046
AAON, Inc.
577
80,896
AAR Corp. *
1,035
116,562
Acuity, Inc.
972
296,567
Advanced Drainage Systems, Inc.
1,495
208,044
Aebi Schmidt Holding AG
193
2,409
AECOM
3,900
270,543
AerCap Holdings NV
1,068
148,869
AeroVironment, Inc. *
154
31,915
AGCO Corp.
4,400
494,032
Alamo Group, Inc.
373
56,215
Albany International Corp., Class A
1,514
97,941
Allegion PLC
379
49,297
Allison Transmission Holdings, Inc.
2,942
334,005
AMETEK, Inc.
2,762
623,798
API Group Corp. *
3,869
158,629
Apogee Enterprises, Inc.
2,148
82,505
Applied Industrial Technologies, Inc.
784
238,187
Arcosa, Inc.
1,322
167,563
Armstrong World Industries, Inc.
577
91,108
Astec Industries, Inc.
1,313
66,123
ATI, Inc. *
1,563
273,775
Atkore, Inc.
3,586
296,957
Atmus Filtration Technologies, Inc.
1,181
55,247
Axon Enterprise, Inc. *
65
29,167
AZZ, Inc.
592
80,222
BlueLinx Holdings, Inc. *
1,767
91,866
Boeing Co. *
1,775
410,291
Boise Cascade Co.
4,892
341,070
Builders FirstSource, Inc. *
9,802
747,501
BWX Technologies, Inc.
881
172,570
Carlisle Cos., Inc.
1,222
421,358
Carpenter Technology Corp.
359
168,364
Carrier Global Corp.
15,253
974,209
Caterpillar, Inc.
8,473
7,421,246
Centuri Holdings, Inc. *
462
14,202
Chart Industries, Inc. *
459
95,389
CNH Industrial NV
54,254
553,933
Columbus McKinnon Corp.
2,843
45,374
Comfort Systems USA, Inc.
212
387,581
Construction Partners, Inc., Class A *
324
37,736
Core & Main, Inc., Class A *
3,764
186,130
Crane Co.
660
120,780
CSW Industrials, Inc.
169
46,808
Cummins, Inc.
3,306
2,137,759
Curtiss-Wright Corp.
400
299,044
Deere & Co.
6,254
3,390,794
DNOW, Inc. *
9,672
123,705
Donaldson Co., Inc.
2,690
220,230
Douglas Dynamics, Inc.
959
42,723
Dover Corp.
3,023
638,941
Ducommun, Inc. *
397
60,431
DXP Enterprises, Inc. *
404
58,604
SECURITY
NUMBER
OF SHARES
VALUE ($)
Dycom Industries, Inc. *
564
287,640
Eaton Corp. PLC
4,573
1,831,944
EMCOR Group, Inc.
700
578,774
Emerson Electric Co.
12,023
1,729,148
Enerpac Tool Group Corp.
917
30,710
EnerSys
1,541
351,302
Enpro, Inc.
346
106,219
Esab Corp.
969
89,565
ESCO Technologies, Inc.
290
84,651
Everus Construction Group, Inc. *
1,934
287,721
Fastenal Co.
16,735
739,687
Federal Signal Corp.
877
93,576
Ferguson Enterprises, Inc.
5,263
1,189,280
Flowserve Corp.
3,092
233,477
Fluor Corp. *
7,413
339,219
Fortive Corp.
6,533
381,005
Fortune Brands Innovations, Inc.
6,618
257,705
Franklin Electric Co., Inc.
1,173
115,400
FTAI Aviation Ltd.
534
139,022
Gates Industrial Corp. PLC *
8,681
225,012
GATX Corp.
901
152,341
GE Vernova, Inc.
793
767,878
Generac Holdings, Inc. *
1,414
392,965
General Dynamics Corp.
6,388
2,215,486
General Electric Co.
6,194
2,005,369
Gibraltar Industries, Inc. *
1,494
57,743
Graco, Inc.
2,757
208,016
GrafTech International Ltd. *
7,256
72,415
Granite Construction, Inc.
1,102
150,798
Greenbrier Cos., Inc.
2,259
106,421
Griffon Corp.
1,112
97,834
Hayward Holdings, Inc. *
4,527
63,876
HEICO Corp.
472
164,341
Helios Technologies, Inc.
1,085
90,153
Herc Holdings, Inc.
1,624
215,992
Hexcel Corp.
1,939
174,103
Hillman Solutions Corp. *
8,111
60,508
Honeywell International, Inc.
14,758
3,510,338
Howmet Aerospace, Inc.
2,223
574,090
Hubbell, Inc.
771
365,153
Huntington Ingalls Industries, Inc.
1,468
452,394
Hyster-Yale, Inc.
209
7,591
IDEX Corp.
1,581
333,322
IES Holdings, Inc. *
19
12,889
Illinois Tool Works, Inc.
5,506
1,361,524
Ingersoll Rand, Inc.
5,391
386,211
Insteel Industries, Inc.
1,363
37,469
ITT, Inc.
1,455
283,725
Janus International Group, Inc. *
6,488
34,646
JBT Marel Corp.
652
87,622
JELD-WEN Holding, Inc. *
37,591
81,197
Johnson Controls International PLC
11,474
1,538,204
Kadant, Inc.
192
61,283
Kennametal, Inc.
5,508
180,662
Kratos Defense & Security Solutions,
Inc. *
672
43,095
L3Harris Technologies, Inc.
6,023
1,898,329
Lennox International, Inc.
378
189,816
Lincoln Electric Holdings, Inc.
1,094
282,788
Lindsay Corp.
326
35,629
Lockheed Martin Corp.
8,050
4,270,122
Manitowoc Co., Inc. *
4,738
56,051
Masco Corp.
7,023
493,366
MasTec, Inc. *
1,240
469,179
Masterbrand, Inc. *
20,312
176,308
McGrath RentCorp
623
67,901
Mercury Systems, Inc. *
835
93,269
Middleby Corp. *
1,680
260,417
Miller Industries, Inc.
925
44,317
2
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Modine Manufacturing Co. *
642
179,060
Moog, Inc., Class A
653
235,060
MSC Industrial Direct Co., Inc., Class A
2,428
265,793
Mueller Industries, Inc.
2,855
367,153
Mueller Water Products, Inc., Class A
2,856
72,000
MYR Group, Inc. *
462
214,858
Nextpower, Inc., Class A *
703
109,949
Nordson Corp.
946
271,814
Northrop Grumman Corp.
3,852
2,171,295
NPK International, Inc. *
2,956
42,921
nVent Electric PLC
2,487
415,304
Oshkosh Corp.
2,940
382,200
Otis Worldwide Corp.
6,400
453,376
Owens Corning
5,367
675,276
PACCAR, Inc.
16,452
1,815,807
Parker-Hannifin Corp.
1,323
1,117,445
Pentair PLC
2,792
197,785
Primoris Services Corp.
1,167
146,785
Proto Labs, Inc. *
893
67,654
Quanex Building Products Corp.
3,688
68,634
Quanta Services, Inc.
1,498
1,066,172
RBC Bearings, Inc. *
189
108,100
Regal Rexnord Corp.
2,044
412,397
Resideo Technologies, Inc. *
8,193
256,195
Rockwell Automation, Inc.
1,666
751,466
RTX Corp.
25,033
4,497,429
Rush Enterprises, Inc., Class A
4,433
307,340
Sensata Technologies Holding PLC
9,215
455,129
Simpson Manufacturing Co., Inc.
832
157,864
SiteOne Landscape Supply, Inc. *
1,211
131,515
Snap-on, Inc.
1,458
541,224
SPX Technologies, Inc. *
380
82,331
StandardAero, Inc. *
658
18,845
Standex International Corp.
249
68,975
Stanley Black & Decker, Inc.
11,239
892,601
Sterling Infrastructure, Inc. *
207
178,194
Tennant Co.
800
68,888
Terex Corp.
5,014
291,715
Textron, Inc.
6,794
623,417
Timken Co.
2,894
370,374
Titan International, Inc. *
5,664
40,894
Titan Machinery, Inc. *
2,737
59,721
Toro Co.
3,231
290,402
Trane Technologies PLC
564
254,533
TransDigm Group, Inc.
471
592,669
Trex Co., Inc. *
2,695
111,573
Trinity Industries, Inc.
4,421
143,417
Tutor Perini Corp.
1,683
120,318
UFP Industries, Inc.
4,259
344,979
United Rentals, Inc.
1,476
1,469,609
V2X, Inc. *
879
73,071
Valmont Industries, Inc.
497
258,346
Vertiv Holdings Co., Class A
1,141
360,225
VSE Corp.
199
36,845
Wabash National Corp.
8,882
70,434
Watsco, Inc.
877
321,947
Watts Water Technologies, Inc., Class A
435
134,406
WESCO International, Inc.
2,439
880,894
Westinghouse Air Brake Technologies
Corp.
3,040
793,926
WillScot Holdings Corp.
10,532
270,988
Woodward, Inc.
715
250,271
Worthington Enterprises, Inc.
1,170
66,421
WW Grainger, Inc.
829
1,023,185
Xylem, Inc.
3,361
368,164
Zurn Elkay Water Solutions Corp.
1,824
85,728
 
88,725,707
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Commercial & Professional Services 1.1%
ABM Industries, Inc.
5,321
207,838
ACCO Brands Corp.
17,380
68,825
Alight, Inc., Class A
53,290
50,215
Amentum Holdings, Inc. *
4,759
110,552
Automatic Data Processing, Inc.
5,561
1,233,652
Barrett Business Services, Inc.
958
31,173
Booz Allen Hamilton Holding Corp.,
Class A
3,946
312,444
Brady Corp., Class A
1,303
112,162
BrightView Holdings, Inc. *
4,792
59,229
Brink's Co.
1,399
145,524
Broadridge Financial Solutions, Inc.
1,547
237,805
CACI International, Inc., Class A *
583
299,376
Casella Waste Systems, Inc., Class A *
536
44,043
CBIZ, Inc. *
1,503
49,900
Cimpress PLC *
188
18,529
Cintas Corp.
3,653
625,613
Civeo Corp. *
1,232
42,073
Clarivate PLC *
31,096
78,673
Clean Harbors, Inc. *
879
247,025
Concentrix Corp.
6,316
178,680
Conduent, Inc. *
42,404
73,359
Copart, Inc. *
7,759
254,262
CoreCivic, Inc. *
6,756
142,416
Deluxe Corp.
5,016
121,839
Ennis, Inc.
2,085
42,659
Enviri Corp. *
5,148
106,821
Equifax, Inc.
1,632
270,569
ExlService Holdings, Inc. *
2,804
81,400
Exponent, Inc.
792
46,189
FTI Consulting, Inc. *
1,142
174,932
Genpact Ltd.
6,820
224,719
GEO Group, Inc. *
7,642
173,244
Healthcare Services Group, Inc. *
5,498
113,259
HNI Corp.
3,689
115,060
Huron Consulting Group, Inc. *
350
37,587
ICF International, Inc.
890
61,268
Insperity, Inc.
2,259
77,868
Interface, Inc.
2,175
64,380
Jacobs Solutions, Inc.
4,052
485,673
KBR, Inc.
5,135
179,468
Kelly Services, Inc., Class A
11,880
138,046
Kforce, Inc.
2,308
108,453
Korn Ferry
2,453
171,661
Leidos Holdings, Inc.
3,660
467,748
ManpowerGroup, Inc.
13,102
414,416
Maximus, Inc.
2,743
169,874
Millerknoll, Inc.
7,319
118,421
MSA Safety, Inc.
596
98,817
OPENLANE, Inc. *
3,668
139,751
Parsons Corp. *
1,310
77,421
Paychex, Inc.
5,501
533,487
Paycom Software, Inc.
563
78,634
Paylocity Holding Corp. *
94
10,803
Pitney Bowes, Inc.
5,069
81,611
Republic Services, Inc.
2,803
561,833
Resources Connection, Inc.
7,128
32,219
Robert Half, Inc.
13,736
404,388
Rollins, Inc.
2,558
121,761
Science Applications International Corp.
3,306
344,485
SS&C Technologies Holdings, Inc.
5,520
372,710
Tetra Tech, Inc.
4,527
124,447
TIC Solutions, Inc. *
1,575
12,868
TransUnion
3,135
224,341
TriNet Group, Inc.
2,236
102,140
TrueBlue, Inc. *(a)
13,191
81,916
TTEC Holdings, Inc. *
10,751
29,243
  
3

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
UL Solutions, Inc., Class A
564
56,118
UniFirst Corp.
675
179,158
Veralto Corp.
2,946
242,250
Verisk Analytics, Inc.
1,823
319,007
Verra Mobility Corp. *
2,201
9,927
Vestis Corp. *
18,974
245,144
Waste Management, Inc.
6,629
1,401,768
 
14,475,169
 
Consumer Discretionary Distribution & Retail 4.2%
1-800-Flowers.com, Inc., Class A *(b)
6,486
29,641
Abercrombie & Fitch Co., Class A *
1,969
152,046
Academy Sports & Outdoors, Inc.
6,511
343,781
Advance Auto Parts, Inc.
9,147
551,015
Amazon.com, Inc. *
84,347
22,827,672
American Eagle Outfitters, Inc.
14,246
225,087
America's Car-Mart, Inc. *
995
12,229
Arko Corp.
6,650
51,604
Asbury Automotive Group, Inc. *
1,610
302,213
AutoNation, Inc. *
2,962
556,027
AutoZone, Inc. *
153
449,084
Bath & Body Works, Inc.
12,699
254,234
Best Buy Co., Inc.
20,310
1,583,165
Boot Barn Holdings, Inc. *
489
83,066
Buckle, Inc.
1,587
72,796
Burlington Stores, Inc. *
817
264,569
Caleres, Inc.
6,607
96,198
Camping World Holdings, Inc., Class A
3,579
26,234
CarMax, Inc. *
11,885
530,309
Carvana Co. *
170
12,410
Chewy, Inc., Class A *
803
18,100
Coupang, Inc. *
11,134
184,824
Designer Brands, Inc., Class A
14,049
108,458
Dick's Sporting Goods, Inc.
2,231
507,709
Dillard's, Inc., Class A
168
99,155
eBay, Inc.
17,468
1,908,728
Etsy, Inc. *
2,945
200,024
Five Below, Inc. *
1,098
249,641
Floor & Decor Holdings, Inc., Class A *
2,211
113,645
GameStop Corp., Class A *
7,584
160,629
Gap, Inc.
12,606
266,617
Genesco, Inc. *
2,725
104,558
Genuine Parts Co.
5,603
553,016
Gold.com, Inc.
5,592
236,598
Group 1 Automotive, Inc.
1,256
397,323
Haverty Furniture Cos., Inc.
1,694
39,284
Home Depot, Inc.
20,054
6,359,926
Kohl's Corp.
51,176
734,887
Lithia Motors, Inc.
2,273
661,193
LKQ Corp.
22,720
616,166
Lowe's Cos., Inc.
18,578
3,982,380
Macy's, Inc.
47,805
1,040,237
MarineMax, Inc. *
3,175
109,347
Monro, Inc. (b)
4,138
68,070
Murphy USA, Inc.
998
505,018
National Vision Holdings, Inc. *
3,741
62,662
Ollie's Bargain Outlet Holdings, Inc. *
1,100
89,793
OneWater Marine, Inc., Class A *
2,076
22,857
O'Reilly Automotive, Inc. *
11,205
973,490
Penske Automotive Group, Inc.
1,364
228,293
Petco Health & Wellness Co., Inc. *
15,102
45,457
Pool Corp.
972
176,321
RH *
962
142,847
Ross Stores, Inc.
5,136
1,190,165
Sally Beauty Holdings, Inc. *
10,286
136,598
Shoe Carnival, Inc.
2,159
38,214
Signet Jewelers Ltd.
3,257
284,629
Sleep Number Corp. *(b)
8,874
10,560
SECURITY
NUMBER
OF SHARES
VALUE ($)
Sonic Automotive, Inc., Class A
1,567
129,466
Stitch Fix, Inc., Class A *
10,153
36,145
TJX Cos., Inc.
15,494
2,397,696
Tractor Supply Co.
11,820
372,685
Ulta Beauty, Inc. *
885
450,332
Upbound Group, Inc.
6,461
124,116
Urban Outfitters, Inc. *
2,681
194,775
Valvoline, Inc. *
5,374
181,373
Victoria's Secret & Co. *
5,676
312,180
Wayfair, Inc., Class A *
1,104
79,775
Williams-Sonoma, Inc.
2,417
492,029
Zumiez, Inc. *
2,842
69,998
 
55,891,369
 
Consumer Durables & Apparel 1.4%
Acushnet Holdings Corp.
850
75,463
Beazer Homes USA, Inc. *
3,669
93,156
Brunswick Corp.
5,692
476,762
Callaway Golf Co. *
9,396
144,698
Capri Holdings Ltd. *
18,242
337,659
Carter's, Inc.
6,050
233,470
Cavco Industries, Inc. *
234
125,546
Century Communities, Inc.
3,102
163,848
Champion Homes, Inc. *
1,656
121,931
Columbia Sportswear Co.
2,347
155,324
Crocs, Inc. *
2,688
318,985
Deckers Outdoor Corp. *
3,140
357,489
DR Horton, Inc.
13,828
2,033,961
Dream Finders Homes, Inc., Class A *
483
7,467
Ethan Allen Interiors, Inc.
1,958
40,374
G-III Apparel Group Ltd.
4,335
140,151
GoPro, Inc., Class A *
43,245
54,056
Green Brick Partners, Inc. *
1,084
72,910
Hasbro, Inc.
4,864
419,131
Helen of Troy Ltd. *
6,538
177,441
Hooker Furnishings Corp.
2,363
28,285
Hovnanian Enterprises, Inc., Class A *
466
51,428
Installed Building Products, Inc.
403
84,622
KB Home
4,803
234,675
Kontoor Brands, Inc.
1,610
115,550
La-Z-Boy, Inc.
3,250
122,135
Leggett & Platt, Inc.
23,435
240,677
Lennar Corp., Class A
15,589
1,399,580
Levi Strauss & Co., Class A
3,600
83,520
LGI Homes, Inc. *
2,414
115,413
M/I Homes, Inc. *
1,666
219,279
Malibu Boats, Inc., Class A *
2,145
58,902
MasterCraft Boat Holdings, Inc. *
1,757
40,921
Mattel, Inc. *
13,485
201,466
Meritage Homes Corp.
5,406
352,687
Mohawk Industries, Inc. *
4,736
508,741
Movado Group, Inc.
2,048
78,397
Newell Brands, Inc.
89,640
304,776
NIKE, Inc., Class B
42,045
1,943,740
NVR, Inc. *
112
683,738
Oxford Industries, Inc.
1,973
88,035
Polaris, Inc.
6,099
430,406
PulteGroup, Inc.
9,944
1,175,182
PVH Corp.
6,724
627,215
Ralph Lauren Corp.
879
319,868
SharkNinja, Inc. *
1,023
124,693
Smith & Wesson Brands, Inc.
6,934
105,535
Somnigroup International, Inc.
2,747
194,515
Sonos, Inc. *
5,056
79,784
Steven Madden Ltd.
4,740
205,906
Sturm Ruger & Co., Inc.
1,884
73,646
Tapestry, Inc.
4,764
692,971
Taylor Morrison Home Corp. *
7,153
418,450
4
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Toll Brothers, Inc.
3,977
550,974
TopBuild Corp. *
621
259,255
Under Armour, Inc., Class A *
29,832
175,114
VF Corp.
36,760
631,537
Whirlpool Corp.
8,443
366,595
Wolverine World Wide, Inc.
3,844
67,462
YETI Holdings, Inc. *
2,478
118,870
 
19,124,367
 
Consumer Services 1.4%
ADT, Inc.
31,248
209,674
Airbnb, Inc., Class A *
1,316
175,436
Aramark
7,226
385,724
BJ's Restaurants, Inc. *
977
45,968
Bloomin' Brands, Inc.
16,065
135,589
Booking Holdings, Inc.
9,284
1,554,420
Boyd Gaming Corp.
2,525
208,767
Bright Horizons Family Solutions, Inc. *
910
56,984
Brightstar Lottery PLC
4,487
50,389
Brinker International, Inc. *
415
59,088
Caesars Entertainment, Inc. *
19,374
562,815
Carnival Corp. Ltd.
8,162
229,026
Cheesecake Factory, Inc.
1,031
68,087
Chegg, Inc. *
30,996
40,605
Chipotle Mexican Grill, Inc. *
12,950
412,587
Choice Hotels International, Inc. (b)
491
53,460
Churchill Downs, Inc.
1,158
100,989
Covista, Inc. *
1,004
118,271
Cracker Barrel Old Country Store, Inc.
3,073
103,929
Darden Restaurants, Inc.
2,825
576,046
Dave & Buster's Entertainment, Inc. *
3,393
45,364
Dine Brands Global, Inc.
2,002
62,823
Domino's Pizza, Inc.
682
211,816
DoorDash, Inc., Class A *
931
148,299
Expedia Group, Inc.
1,844
416,357
Flutter Entertainment PLC *
2,022
196,094
Frontdoor, Inc. *
1,289
80,008
Graham Holdings Co., Class B
146
160,204
Grand Canyon Education, Inc. *
883
132,318
H&R Block, Inc.
3,852
148,263
Hilton Grand Vacations, Inc. *
3,088
160,638
Hilton Worldwide Holdings, Inc.
1,798
589,133
Hyatt Hotels Corp., Class A
463
83,970
Jack in the Box, Inc. *(b)
4,255
52,975
Las Vegas Sands Corp.
5,129
259,373
Laureate Education, Inc. *
5,587
178,728
Life Time Group Holdings, Inc. *
430
14,224
Marriott International, Inc., Class A
1,971
740,308
Marriott Vacations Worldwide Corp.
3,695
313,632
Matthews International Corp., Class A
2,668
70,809
McDonald's Corp.
10,796
3,014,243
MGM Resorts International *
13,460
587,798
Papa John's International, Inc. (b)
1,178
40,299
Penn Entertainment, Inc. *
16,846
317,210
Perdoceo Education Corp.
1,978
64,048
Planet Fitness, Inc., Class A *
747
39,972
Red Rock Resorts, Inc., Class A
1,320
77,062
Royal Caribbean Cruises Ltd.
800
227,704
Service Corp. International
3,725
280,083
Six Flags Entertainment Corp. *
3,848
80,846
Starbucks Corp.
23,524
2,332,640
Strategic Education, Inc.
1,150
88,262
Stride, Inc. *
870
80,371
Texas Roadhouse, Inc.
1,183
213,673
Travel & Leisure Co.
3,180
216,240
United Parks & Resorts, Inc. *
1,634
65,572
Vail Resorts, Inc.
1,534
204,942
Wendy's Co.
13,280
102,256
SECURITY
NUMBER
OF SHARES
VALUE ($)
Wingstop, Inc.
154
24,172
WW International, Inc. *
349
5,800
Wyndham Hotels & Resorts, Inc.
2,275
182,591
Wynn Resorts Ltd.
1,035
104,763
Yum! Brands, Inc.
4,653
688,411
 
18,252,148
 
Consumer Staples Distribution & Retail 2.7%
Albertsons Cos., Inc., Class A
39,929
623,292
Andersons, Inc.
5,598
395,163
BJ's Wholesale Club Holdings, Inc. *
3,778
322,188
Casey's General Stores, Inc.
950
728,783
Chefs' Warehouse, Inc. *
671
51,358
Costco Wholesale Corp.
6,842
6,543,142
Dollar General Corp.
13,956
1,543,673
Dollar Tree, Inc. *
9,840
1,145,770
Grocery Outlet Holding Corp. *
8,556
72,812
Ingles Markets, Inc., Class A
2,481
219,469
Kroger Co.
42,776
2,658,528
Maplebear, Inc. *
1,392
55,402
Performance Food Group Co. *
8,649
849,245
PriceSmart, Inc.
1,250
212,488
Sprouts Farmers Market, Inc. *
2,655
219,356
Sysco Corp.
14,782
1,120,623
Target Corp.
38,515
4,894,101
U.S. Foods Holding Corp. *
10,271
840,681
United Natural Foods, Inc. *
13,398
687,987
Village Super Market, Inc., Class A
950
44,137
Walmart, Inc.
107,459
12,438,379
Weis Markets, Inc.
1,633
119,160
 
35,785,737
 
Energy 9.0%
Antero Midstream Corp.
5,947
124,649
Antero Resources Corp. *
13,078
467,538
APA Corp.
39,935
1,454,832
Archrock, Inc.
3,776
126,458
Ardmore Shipping Corp.
724
11,642
Baker Hughes Co.
29,000
1,852,520
Bristow Group, Inc.
1,076
44,805
Cactus, Inc., Class A
1,288
74,756
California Resources Corp.
5,852
346,965
Cheniere Energy, Inc.
5,355
1,204,125
Chevron Corp.
99,807
18,210,785
Chord Energy Corp.
4,135
545,282
CNX Resources Corp. *
7,631
257,088
Comstock Resources, Inc. *
2,425
32,325
ConocoPhillips
71,026
8,095,543
Core Laboratories, Inc.
1,890
25,836
Core Natural Resources, Inc.
2,670
236,135
Crescent Energy Co., Class A
23,205
268,250
CVR Energy, Inc.
3,174
105,440
Delek U.S. Holdings, Inc.
6,662
296,526
Devon Energy Corp.
71,832
3,195,806
DHT Holdings, Inc.
1,334
21,771
Diamondback Energy, Inc.
4,775
914,317
Diversified Energy Co.
1,608
23,396
Dorian LPG Ltd.
2,310
92,908
DT Midstream, Inc.
1,262
176,655
EOG Resources, Inc.
27,308
3,642,341
EQT Corp.
14,322
786,707
Expand Energy Corp.
10,570
982,799
Expro Group Holdings NV *
4,542
67,085
Exxon Mobil Corp.
193,302
28,079,049
Golar LNG Ltd.
295
14,676
Green Plains, Inc. *
11,430
179,108
Gulfport Energy Corp. *
703
118,519
  
5

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Halliburton Co.
42,977
1,669,656
Helix Energy Solutions Group, Inc. *
8,539
79,840
Helmerich & Payne, Inc.
8,943
341,175
HF Sinclair Corp.
22,819
1,594,820
International Seaways, Inc.
2,051
158,317
Kinder Morgan, Inc.
63,087
1,960,744
Kodiak Gas Services, Inc.
1,256
83,964
Kosmos Energy Ltd. *
75,449
211,257
Liberty Energy, Inc.
13,365
391,060
Magnolia Oil & Gas Corp., Class A
6,905
188,921
Marathon Petroleum Corp.
30,664
7,628,283
Matador Resources Co.
4,944
264,998
Murphy Oil Corp.
13,775
498,517
Nabors Industries Ltd. *
2,736
253,436
New Fortress Energy, Inc. *
49,055
27,510
Noble Corp. PLC
3,825
177,786
Northern Oil & Gas, Inc.
5,393
117,406
NOV, Inc.
22,707
453,232
Occidental Petroleum Corp.
45,048
2,551,068
Oceaneering International, Inc. *
2,936
112,243
Oil States International, Inc. *
6,312
53,652
ONEOK, Inc.
16,364
1,373,594
Ovintiv, Inc.
28,270
1,584,251
Par Pacific Holdings, Inc. *
4,955
278,273
Patterson-UTI Energy, Inc.
35,695
400,141
PBF Energy, Inc., Class A
30,026
1,222,058
Peabody Energy Corp.
14,472
391,468
Permian Resources Corp., Class A
11,746
225,876
Phillips 66
32,235
5,669,492
ProPetro Holding Corp. *
12,106
184,738
Range Resources Corp.
8,907
346,928
REX American Resources Corp. *
1,397
65,324
RPC, Inc.
8,196
54,258
Scorpio Tankers, Inc.
618
46,047
Select Water Solutions, Inc.
6,127
109,857
SLB Ltd.
55,657
3,036,089
SM Energy Co.
22,627
694,875
Summit Midstream Corp. *
1,149
30,621
Talos Energy, Inc. *
9,882
144,969
Targa Resources Corp.
3,875
988,396
TechnipFMC PLC
7,288
498,645
Teekay Corp. Ltd.
1,188
13,626
Texas Pacific Land Corp.
252
99,036
Tidewater, Inc. *
714
52,472
VAALCO Energy, Inc.
2,081
10,863
Valaris Ltd. *
1,127
104,394
Valero Energy Corp.
35,160
8,607,871
W&T Offshore, Inc.
17,953
66,067
Weatherford International PLC
2,518
260,966
Williams Cos., Inc.
22,690
1,619,839
World Kinect Corp.
21,501
619,444
 
119,695,000
 
Equity Real Estate Investment Trusts (REITs) 1.9%
Acadia Realty Trust
1,925
42,388
Agree Realty Corp.
924
68,515
Alexandria Real Estate Equities, Inc.
7,451
370,166
American Assets Trust, Inc.
2,292
53,404
American Healthcare REIT, Inc.
1,262
61,699
American Homes 4 Rent, Class A
5,109
163,897
American Tower Corp.
6,887
1,287,593
Americold Realty Trust, Inc.
14,715
230,878
Apple Hospitality REIT, Inc.
9,453
138,865
AvalonBay Communities, Inc.
2,533
462,298
Brandywine Realty Trust
23,908
74,115
Brixmor Property Group, Inc.
7,118
217,526
Broadstone Net Lease, Inc.
4,267
86,321
BXP, Inc.
6,510
390,665
SECURITY
NUMBER
OF SHARES
VALUE ($)
Camden Property Trust
2,242
238,907
CareTrust REIT, Inc.
1,111
45,351
Centerspace
567
38,261
COPT Defense Properties
3,259
104,484
Cousins Properties, Inc.
5,521
148,018
Crown Castle, Inc.
10,794
987,651
CubeSmart
4,047
161,880
DiamondRock Hospitality Co.
6,514
71,589
Digital Realty Trust, Inc.
4,952
940,880
Diversified Healthcare Trust
20,469
170,302
Douglas Emmett, Inc.
10,143
118,064
Easterly Government Properties, Inc.
1,966
47,145
EastGroup Properties, Inc.
513
103,580
Empire State Realty Trust, Inc., Class A
10,646
61,002
EPR Properties
1,951
111,305
Equinix, Inc.
894
954,828
Equity LifeStyle Properties, Inc.
2,383
147,198
Equity Residential
9,120
596,904
Essential Properties Realty Trust, Inc.
1,685
51,527
Essex Property Trust, Inc.
1,174
320,079
Extra Space Storage, Inc.
2,445
352,838
Federal Realty Investment Trust
1,945
232,680
First Industrial Realty Trust, Inc.
1,955
120,956
Four Corners Property Trust, Inc.
1,538
38,296
Gaming & Leisure Properties, Inc.
4,747
222,967
Global Net Lease, Inc.
7,345
68,823
Healthcare Realty Trust, Inc.
11,099
221,092
Healthpeak Properties, Inc.
20,520
392,958
Highwoods Properties, Inc.
5,158
134,624
Host Hotels & Resorts, Inc.
22,845
524,978
Hudson Pacific Properties, Inc. *
7,913
94,798
Independence Realty Trust, Inc.
3,925
63,703
Innovative Industrial Properties, Inc.
815
47,262
InvenTrust Properties Corp.
1,481
49,065
Invitation Homes, Inc.
10,911
319,147
Iron Mountain, Inc.
4,560
584,820
JBG SMITH Properties
5,576
81,800
Kilroy Realty Corp.
5,005
171,521
Kimco Realty Corp.
12,606
303,552
Kite Realty Group Trust
4,308
118,125
Lamar Advertising Co., Class A
1,785
272,141
Lineage, Inc.
1,857
82,469
LTC Properties, Inc.
998
37,335
LXP Industrial Trust
2,003
103,435
Macerich Co.
7,078
159,397
Medical Properties Trust, Inc.
39,410
201,385
Mid-America Apartment Communities,
Inc.
2,479
319,964
National Health Investors, Inc.
702
51,450
National Storage Affiliates Trust
1,569
66,918
NNN REIT, Inc.
3,298
146,794
Omega Healthcare Investors, Inc.
4,032
188,536
Outfront Media, Inc.
5,102
164,488
Park Hotels & Resorts, Inc.
15,631
189,604
Pebblebrook Hotel Trust
7,173
109,388
Phillips Edison & Co., Inc.
2,309
92,706
Piedmont Realty Trust, Inc., Class A *
11,093
92,183
Prologis, Inc.
10,533
1,511,169
Public Storage
1,962
595,840
Rayonier, Inc.
10,279
214,728
Realty Income Corp.
8,846
542,083
Regency Centers Corp.
3,106
240,249
Rexford Industrial Realty, Inc.
2,946
104,495
RLJ Lodging Trust
12,466
121,294
Ryman Hospitality Properties, Inc.
914
105,229
Sabra Health Care REIT, Inc.
5,824
115,839
SBA Communications Corp.
1,626
330,338
Service Properties Trust
43,221
77,366
Sila Realty Trust, Inc.
1,283
38,798
6
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Simon Property Group, Inc.
4,569
936,234
SITE Centers Corp.
1,547
7,812
SL Green Realty Corp.
3,226
146,460
STAG Industrial, Inc.
3,263
123,570
Summit Hotel Properties, Inc.
6,038
34,839
Sun Communities, Inc.
2,469
305,317
Sunstone Hotel Investors, Inc.
9,157
99,079
Tanger, Inc.
1,904
68,677
Terreno Realty Corp.
929
61,026
UDR, Inc.
7,101
262,027
Urban Edge Properties
3,611
81,031
Ventas, Inc.
7,566
638,722
VICI Properties, Inc.
14,587
411,645
Vornado Realty Trust
5,472
184,680
Welltower, Inc.
4,651
954,990
Weyerhaeuser Co.
40,715
997,925
WP Carey, Inc.
4,028
299,764
Xenia Hotels & Resorts, Inc.
4,278
74,309
 
25,175,018
 
Financial Services 6.5%
Acadian Asset Management, Inc.
1,213
87,712
Adamas Trust, Inc.
6,832
62,854
Affiliated Managers Group, Inc.
1,228
371,900
AGNC Investment Corp.
22,133
230,405
Ally Financial, Inc.
25,198
1,078,726
American Express Co.
8,401
2,658,665
Ameriprise Financial, Inc.
2,205
982,791
Annaly Capital Management, Inc.
22,001
480,722
Apollo Commercial Real Estate Finance,
Inc.
8,083
88,590
Apollo Global Management, Inc.
3,004
386,645
Arbor Realty Trust, Inc. (b)
12,004
69,023
ARES Management Corp., Class A
1,194
153,429
Artisan Partners Asset Management,
Inc., Class A
2,678
100,264
Bank of New York Mellon Corp.
18,341
2,557,286
Berkshire Hathaway, Inc., Class B *
36,475
17,306,658
BGC Group, Inc., Class A
5,872
61,362
Blackrock, Inc.
2,115
2,214,151
Blackstone Mortgage Trust, Inc., Class A
8,011
146,441
Blackstone, Inc.
6,973
815,632
Block, Inc. *
10,564
799,906
Blue Owl Capital, Inc.
922
9,478
BRC Group Holdings, Inc. *
7,393
68,977
Bread Financial Holdings, Inc.
4,799
427,447
BrightSpire Capital, Inc.
8,015
46,247
Capital One Financial Corp.
22,974
4,317,504
Carlyle Group, Inc.
5,965
270,990
Cboe Global Markets, Inc.
338
112,743
Charles Schwab Corp. (c)
16,442
1,436,209
Chimera Investment Corp.
7,657
104,288
Claros Mortgage Trust, Inc. *
16,460
39,998
CME Group, Inc.
3,885
1,062,703
Cohen & Steers, Inc.
632
44,114
Coinbase Global, Inc., Class A *
514
97,161
Corebridge Financial, Inc.
15,638
422,226
Corpay, Inc. *
1,588
574,538
Credit Acceptance Corp. *
254
145,705
DigitalBridge Group, Inc.
8,110
126,840
Donnelley Financial Solutions, Inc. *
1,399
55,526
Enact Holdings, Inc.
896
37,444
Encore Capital Group, Inc. *
1,943
155,304
Enova International, Inc. *
908
146,651
Equitable Holdings, Inc.
7,977
329,849
Essent Group Ltd.
2,391
138,415
Euronet Worldwide, Inc. *
2,004
145,250
Evercore, Inc., Class A
1,055
359,607
SECURITY
NUMBER
OF SHARES
VALUE ($)
EVERTEC, Inc.
677
16,566
EZCORP, Inc., Class A *
2,401
75,007
FactSet Research Systems, Inc.
669
164,219
Federal Agricultural Mortgage Corp.,
Class C
244
43,381
Federated Hermes, Inc.
3,098
173,674
Fidelity National Information Services,
Inc.
21,857
939,632
FirstCash Holdings, Inc.
840
184,724
Fiserv, Inc. *
19,559
1,106,257
Franklin BSP Realty Trust, Inc.
4,416
38,287
Franklin Resources, Inc.
18,292
567,418
Global Payments, Inc.
14,789
1,116,717
Goldman Sachs Group, Inc.
6,977
7,155,332
Green Dot Corp., Class A *
4,041
52,008
Hamilton Lane, Inc., Class A
283
24,658
Houlihan Lokey, Inc.
798
113,045
Interactive Brokers Group, Inc., Class A
1,342
116,714
Intercontinental Exchange, Inc.
6,818
1,008,041
Invesco Ltd.
19,648
559,182
Jack Henry & Associates, Inc.
1,429
194,801
Jackson Financial, Inc., Class A
3,714
382,951
Janus Henderson Group PLC
4,501
232,747
Jefferies Financial Group, Inc.
5,679
299,397
KKR & Co., Inc.
4,940
473,944
KKR Real Estate Finance Trust, Inc.
5,151
34,357
Ladder Capital Corp.
4,454
45,520
LendingClub Corp. *
2,880
51,408
loanDepot, Inc., Class A *
22,717
29,986
LPL Financial Holdings, Inc.
1,172
320,858
MarketAxess Holdings, Inc.
593
77,114
Mastercard, Inc., Class A
5,435
2,684,781
MFA Financial, Inc.
5,487
52,675
MGIC Investment Corp.
8,533
215,202
Moelis & Co., Class A
2,347
157,930
Moody's Corp.
1,449
656,759
Morgan Stanley
26,219
5,453,552
Morningstar, Inc.
360
65,527
MSCI, Inc.
569
359,255
Nasdaq, Inc.
5,145
476,015
Navient Corp.
13,067
111,854
NCR Atleos Corp. *
4,260
189,996
Nelnet, Inc., Class A
353
46,091
NMI Holdings, Inc., Class A *
1,529
54,891
Northern Trust Corp.
4,822
797,800
OneMain Holdings, Inc.
11,738
649,229
Oppenheimer Holdings, Inc., Class A
574
52,619
PayPal Holdings, Inc.
36,539
1,635,120
Paysafe Ltd. *
4,558
35,233
PennyMac Financial Services, Inc.
1,551
130,082
PennyMac Mortgage Investment Trust
5,708
59,706
Piper Sandler Cos.
1,331
104,364
PJT Partners, Inc., Class A
271
41,436
PRA Group, Inc. *
3,542
54,051
PROG Holdings, Inc.
8,443
310,449
Radian Group, Inc.
5,359
183,010
Raymond James Financial, Inc.
3,260
467,517
Ready Capital Corp.
18,763
33,398
Redwood Trust, Inc.
7,614
41,268
Regional Management Corp.
899
33,047
Rithm Capital Corp.
29,317
273,234
Rocket Cos., Inc., Class A *
15,871
230,288
S&P Global, Inc.
3,776
1,601,024
SEI Investments Co.
3,270
287,368
Shift4 Payments, Inc., Class A *(b)
514
22,904
SLM Corp.
12,424
274,819
SoFi Technologies, Inc. *
591
10,768
Starwood Property Trust, Inc.
13,840
236,387
State Street Corp.
10,752
1,673,441
  
7

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Stifel Financial Corp.
2,670
187,301
StoneX Group, Inc. *
3,326
377,002
Synchrony Financial
31,067
2,219,427
T. Rowe Price Group, Inc.
12,882
1,346,555
Toast, Inc., Class A *
2,084
54,247
TPG RE Finance Trust, Inc.
3,930
33,012
TPG, Inc.
1,426
60,705
Tradeweb Markets, Inc., Class A
721
72,280
Two Harbors Investment Corp.
2,813
34,684
Victory Capital Holdings, Inc., Class A
1,127
95,288
Virtu Financial, Inc., Class A
3,547
177,882
Virtus Investment Partners, Inc.
301
43,052
Visa, Inc., Class A
12,429
4,056,328
Voya Financial, Inc.
3,281
266,483
Walker & Dunlop, Inc.
1,608
80,706
Western Union Co.
41,247
335,338
WEX, Inc. *
1,113
161,341
WisdomTree, Inc.
589
11,220
World Acceptance Corp. *
269
44,409
 
86,346,671
 
Food, Beverage & Tobacco 3.0%
Altria Group, Inc.
50,870
3,539,535
Archer-Daniels-Midland Co.
51,833
4,135,237
B&G Foods, Inc.
20,580
84,172
Boston Beer Co., Inc., Class A *
414
73,394
Brown-Forman Corp., Class B
9,954
256,017
Bunge Global SA
19,973
2,462,671
Cal-Maine Foods, Inc.
1,794
134,048
Campbell's Co. (b)
11,240
237,276
Coca-Cola Co.
52,208
4,124,954
Coca-Cola Consolidated, Inc.
1,131
195,957
Conagra Brands, Inc.
41,115
546,007
Constellation Brands, Inc., Class A
5,788
803,490
Darling Ingredients, Inc. *
7,681
453,947
Dole PLC
1,582
22,132
Flowers Foods, Inc.
17,451
133,326
Fresh Del Monte Produce, Inc.
4,017
129,106
General Mills, Inc.
30,164
1,019,845
Hain Celestial Group, Inc. *(a)
51,517
40,837
Hershey Co.
3,053
592,374
Hormel Foods Corp.
15,680
364,246
Ingredion, Inc.
3,434
348,345
J&J Snack Foods Corp.
610
46,433
J.M. Smucker Co.
5,794
597,941
John B Sanfilippo & Son, Inc.
667
49,965
Keurig Dr. Pepper, Inc.
35,589
1,068,738
Kraft Heinz Co.
65,956
1,583,603
Lamb Weston Holdings, Inc.
5,439
234,856
Marzetti Co.
543
60,783
McCormick & Co., Inc. - Non Voting
Shares
6,059
287,015
MGP Ingredients, Inc.
1,386
24,463
Mission Produce, Inc. *
1,868
20,809
Molson Coors Beverage Co., Class B
12,888
509,463
Mondelez International, Inc., Class A
41,663
2,548,526
Monster Beverage Corp. *
6,202
546,272
Nomad Foods Ltd.
11,731
118,952
PepsiCo, Inc.
35,056
5,054,725
Philip Morris International, Inc.
23,920
4,242,930
Pilgrim's Pride Corp.
1,986
56,224
Post Holdings, Inc. *
2,074
190,476
Primo Brands Corp.
1,472
36,506
Seaboard Corp.
34
172,786
Seneca Foods Corp., Class A *
446
64,130
Simply Good Foods Co. *
3,112
35,850
Smithfield Foods, Inc.
782
20,199
SECURITY
NUMBER
OF SHARES
VALUE ($)
Tyson Foods, Inc., Class A
32,731
1,997,246
Universal Corp.
2,101
108,979
 
39,374,786
 
Health Care Equipment & Services 5.7%
Abbott Laboratories
32,345
2,768,732
Acadia Healthcare Co., Inc. *
8,853
205,390
Accendra Health, Inc. *
30,504
86,631
AdaptHealth Corp. *
9,212
93,318
Addus HomeCare Corp. *
457
41,898
agilon health, Inc. *
2,247
207,353
Align Technology, Inc. *
2,339
409,208
AMN Healthcare Services, Inc. *
10,585
306,647
Astrana Health, Inc. *
2,074
78,024
Avanos Medical, Inc. *
4,080
101,184
Baxter International, Inc.
37,473
703,743
Becton Dickinson & Co.
7,996
1,176,372
Boston Scientific Corp. *
10,222
493,825
BrightSpring Health Services, Inc. *
1,818
112,134
Brookdale Senior Living, Inc. *
7,134
91,815
Cardinal Health, Inc.
4,075
801,960
Cencora, Inc.
2,213
596,094
Centene Corp. *
86,344
5,146,102
Chemed Corp.
408
173,975
Cigna Group
20,362
5,648,419
Claritev Corp. *(b)
1,491
37,454
Clover Health Investments Corp. *
14,369
57,189
Community Health Systems, Inc. *
53,928
146,684
Concentra Group Holdings Parent, Inc.
6,486
161,307
CONMED Corp.
1,293
46,160
Cooper Cos., Inc. *
3,916
239,698
Cross Country Healthcare, Inc. *
5,811
76,066
CVS Health Corp.
121,402
11,045,154
DaVita, Inc. *
2,675
519,913
Dentsply Sirona, Inc.
22,809
238,810
Dexcom, Inc. *
2,517
185,604
Edwards Lifesciences Corp. *
8,722
754,191
Elevance Health, Inc.
15,501
6,094,838
Embecta Corp.
5,574
18,840
Encompass Health Corp.
1,911
202,279
Enovis Corp. *
4,092
92,807
Ensign Group, Inc.
694
116,349
Envista Holdings Corp. *
7,822
184,208
Evolent Health, Inc., Class A *
9,505
37,545
Fulgent Genetics, Inc. *
1,823
33,069
GE HealthCare Technologies, Inc.
11,073
690,291
Globus Medical, Inc., Class A *
1,367
111,930
Haemonetics Corp. *
1,286
87,204
HCA Healthcare, Inc.
4,962
1,878,315
HealthEquity, Inc. *
710
62,473
Henry Schein, Inc. *
6,672
510,942
Humana, Inc.
12,495
3,816,223
ICU Medical, Inc. *
684
92,607
IDEXX Laboratories, Inc. *
536
302,052
Insulet Corp. *
165
23,915
Integer Holdings Corp. *
881
78,744
Integra LifeSciences Holdings Corp. *
8,201
131,544
Intuitive Surgical, Inc. *
1,448
614,879
Labcorp Holdings, Inc.
5,101
1,326,566
Lantheus Holdings, Inc. *
852
84,604
LivaNova PLC *
967
71,365
Masimo Corp. *
721
128,662
McKesson Corp.
1,773
1,316,346
Medtronic PLC
10,326
762,162
Merit Medical Systems, Inc. *
736
46,412
Molina Healthcare, Inc. *
4,900
850,640
National HealthCare Corp.
491
90,550
Neogen Corp. *
7,380
66,199
8
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
OmniAb, Inc., Class A *(d)
52
0
OmniAb, Inc., Class B *(d)
52
0
Omnicell, Inc. *
1,772
78,216
Option Care Health, Inc. *
4,854
101,303
Pediatrix Medical Group, Inc. *
5,125
110,392
Penumbra, Inc. *
156
49,655
Privia Health Group, Inc. *
1,610
34,631
Progyny, Inc. *
731
18,684
Quest Diagnostics, Inc.
3,667
714,698
QuidelOrtho Corp. *
8,059
104,928
RadNet, Inc. *
634
35,206
ResMed, Inc.
1,463
278,804
Select Medical Holdings Corp.
5,969
98,488
Solventum Corp. *
8,144
610,393
STERIS PLC
1,665
354,195
Stryker Corp.
3,755
1,145,613
Surgery Partners, Inc. *
3,418
45,664
Teladoc Health, Inc. *
10,014
76,207
Teleflex, Inc.
2,161
277,991
Tenet Healthcare Corp. *
3,086
541,038
UnitedHealth Group, Inc.
44,336
16,861,424
Universal Health Services, Inc., Class B
3,510
512,846
Varex Imaging Corp. *
3,788
38,751
Veeva Systems, Inc., Class A *
690
120,295
Waystar Holding Corp. *
1,163
23,155
Zimmer Biomet Holdings, Inc.
7,038
579,439
 
75,487,630
 
Household & Personal Products 1.1%
BellRing Brands, Inc. *
1,360
11,370
Central Garden & Pet Co., Class A *
3,780
129,011
Church & Dwight Co., Inc.
4,871
465,814
Clorox Co.
2,925
263,309
Colgate-Palmolive Co.
15,487
1,395,843
Coty, Inc., Class A *
28,718
61,169
Edgewell Personal Care Co.
5,436
95,239
elf Beauty, Inc. *
458
25,648
Energizer Holdings, Inc.
4,817
87,766
Estee Lauder Cos., Inc., Class A
8,235
732,503
Herbalife Ltd. *
11,750
140,530
Interparfums, Inc.
368
34,728
Kenvue, Inc.
57,604
995,397
Kimberly-Clark Corp.
9,401
917,538
Medifast, Inc. *(a)
4,912
61,547
Nu Skin Enterprises, Inc., Class A
13,897
80,464
Procter & Gamble Co.
56,158
8,062,042
Reynolds Consumer Products, Inc.
2,495
54,067
Spectrum Brands Holdings, Inc.
3,160
248,660
USANA Health Sciences, Inc. *
2,166
39,638
WD-40 Co.
198
39,594
 
13,941,877
 
Insurance 2.2%
Aflac, Inc.
15,951
1,793,211
Allstate Corp.
8,806
1,814,829
American Financial Group, Inc.
3,695
479,611
American International Group, Inc.
36,641
2,719,861
AMERISAFE, Inc.
962
29,485
Aon PLC, Class A
3,875
1,224,732
Arch Capital Group Ltd. *
2,043
182,522
Arthur J Gallagher & Co.
2,251
452,699
Assurant, Inc.
1,305
324,775
Assured Guaranty Ltd.
419
31,094
Axis Capital Holdings Ltd.
461
43,763
Brighthouse Financial, Inc. *
1,482
92,699
Brown & Brown, Inc.
2,886
162,337
Chubb Ltd.
6,947
2,165,588
SECURITY
NUMBER
OF SHARES
VALUE ($)
Cincinnati Financial Corp.
4,152
653,608
CNA Financial Corp.
909
38,233
CNO Financial Group, Inc.
5,733
263,546
Employers Holdings, Inc.
1,421
61,814
Erie Indemnity Co., Class A
387
82,458
Everest Group Ltd.
399
129,288
F&G Annuities & Life, Inc.
813
22,536
Fidelity National Financial, Inc.
9,510
450,298
First American Financial Corp.
5,945
393,737
Genworth Financial, Inc., Class A *
28,717
245,818
Globe Life, Inc.
1,904
291,769
Hanover Insurance Group, Inc.
1,004
186,945
Hartford Insurance Group, Inc.
7,602
966,442
Horace Mann Educators Corp.
1,145
52,361
Kemper Corp.
3,599
88,787
Kinsale Capital Group, Inc.
113
34,439
Lincoln National Corp.
10,700
377,603
Loews Corp.
4,697
486,374
Markel Group, Inc. *
291
528,337
Marsh & McLennan Cos., Inc.
8,129
1,300,396
Mercury General Corp.
784
76,856
MetLife, Inc.
24,194
2,000,602
Old Republic International Corp.
10,928
406,849
Oscar Health, Inc., Class A *
960
21,341
Pelagos Insurance Capital Ltd.
791
17,070
Primerica, Inc.
808
218,136
Principal Financial Group, Inc.
9,676
1,002,627
ProAssurance Corp. *
1,171
28,092
Progressive Corp.
8,384
1,596,314
Prudential Financial, Inc.
14,099
1,418,923
Reinsurance Group of America, Inc.,
Class A
1,546
310,344
RenaissanceRe Holdings Ltd.
277
77,657
RLI Corp.
1,840
92,074
Ryan Specialty Holdings, Inc.
262
8,345
Safety Insurance Group, Inc.
679
47,645
Selective Insurance Group, Inc.
1,679
145,301
SiriusPoint Ltd. *
502
10,718
Stewart Information Services Corp.
1,975
128,335
Travelers Cos., Inc.
6,221
1,815,848
Unum Group
5,842
486,230
W.R. Berkley Corp.
5,410
343,751
White Mountains Insurance Group Ltd.
67
138,343
Willis Towers Watson PLC
2,130
531,797
 
29,095,193
 
Materials 4.1%
AdvanSix, Inc.
3,989
89,513
Air Products & Chemicals, Inc.
4,386
1,222,027
Albemarle Corp.
4,497
793,361
Alcoa Corp.
14,697
1,141,075
Alpha Metallurgical Resources, Inc. *
1,535
305,419
Alto Ingredients, Inc. *
2,089
11,385
Amcor PLC
17,660
685,561
AptarGroup, Inc.
1,671
193,585
Ardagh Metal Packaging SA
7,580
30,547
Ashland, Inc.
4,201
243,238
Avery Dennison Corp.
2,401
381,927
Avient Corp.
4,682
165,836
Axalta Coating Systems Ltd. *
7,269
223,667
Balchem Corp.
424
66,454
Ball Corp.
11,881
649,534
Cabot Corp.
2,575
225,338
Celanese Corp.
12,537
666,091
CF Industries Holdings, Inc.
9,873
1,109,232
Chemours Co.
18,492
409,783
Clearwater Paper Corp. *
3,308
53,920
Cleveland-Cliffs, Inc. *
81,927
1,114,207
  
9

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Coeur Mining, Inc.
3,722
71,909
Commercial Metals Co.
7,781
591,745
Compass Minerals International, Inc. *
3,187
101,729
Corteva, Inc.
18,176
1,422,817
CRH PLC
18,607
2,024,256
Crown Holdings, Inc.
4,405
418,827
Dow, Inc.
109,858
3,707,708
DuPont de Nemours, Inc.
23,740
1,149,491
Eagle Materials, Inc.
1,030
227,815
Eastman Chemical Co.
10,201
773,950
Ecolab, Inc.
3,125
800,000
Ecovyst, Inc. *
9,831
129,671
Element Solutions, Inc.
6,140
260,520
Ferroglobe PLC
10,538
45,630
FMC Corp.
20,629
281,792
Freeport-McMoRan, Inc.
38,551
2,533,186
Graphic Packaging Holding Co.
23,108
260,196
Greif, Inc., Class A
2,389
151,295
Hawkins, Inc.
349
54,015
HB Fuller Co.
2,677
171,542
Hecla Mining Co.
6,678
118,668
Huntsman Corp.
39,035
599,187
Ingevity Corp. *
2,016
136,725
Innospec, Inc.
1,283
106,412
International Flavors & Fragrances, Inc.
9,685
736,544
International Paper Co.
26,081
872,931
James Hardie Industries PLC *
3,314
77,150
Kaiser Aluminum Corp.
938
170,754
Knife River Corp. *
1,528
119,963
Koppers Holdings, Inc.
1,913
78,050
Linde PLC
7,124
3,545,544
Louisiana-Pacific Corp.
3,027
231,202
LSB Industries, Inc. *
4,139
51,903
LyondellBasell Industries NV, Class A
35,474
2,364,342
Magnera Corp. *
3,300
37,521
Martin Marietta Materials, Inc.
815
474,037
Materion Corp.
649
142,806
Mativ Holdings, Inc.
7,447
66,129
Metallus, Inc. *
4,168
81,901
Minerals Technologies, Inc.
1,900
146,338
Mosaic Co.
37,459
895,270
MP Materials Corp. *
160
10,352
Myers Industries, Inc.
2,367
53,968
NewMarket Corp.
214
165,546
Newmont Corp.
17,802
1,954,838
Nucor Corp.
19,103
4,775,750
O-I Glass, Inc. *
16,374
143,273
Olin Corp.
24,752
640,334
Orion SA
8,091
61,815
Packaging Corp. of America
2,960
647,974
PPG Industries, Inc.
8,308
938,638
Quaker Chemical Corp.
597
85,687
Rayonier Advanced Materials, Inc. *
11,911
108,986
Reliance, Inc.
3,375
1,285,099
Royal Gold, Inc.
477
107,077
RPM International, Inc.
3,174
336,349
Ryerson Holding Corp.
9,239
264,235
Scotts Miracle-Gro Co.
1,844
108,796
Sensient Technologies Corp.
1,032
117,493
Sherwin-Williams Co.
2,419
734,989
Silgan Holdings, Inc.
4,261
160,043
Smurfit Westrock PLC
4,163
171,308
Solstice Advanced Materials, Inc.
3,389
285,456
Sonoco Products Co.
6,827
332,338
Southern Copper Corp.
1,464
280,132
Steel Dynamics, Inc.
9,072
2,360,081
Stepan Co.
2,209
116,746
SunCoke Energy, Inc.
10,715
96,542
Sylvamo Corp.
2,815
110,545
SECURITY
NUMBER
OF SHARES
VALUE ($)
Tredegar Corp. *
3,200
24,992
TriMas Corp.
1,591
65,120
Trinseo PLC
26,136
261
Tronox Holdings PLC
37,079
294,778
Vulcan Materials Co.
1,713
484,642
Warrior Met Coal, Inc.
2,550
241,077
Westlake Corp.
2,838
246,424
Worthington Steel, Inc.
3,546
149,606
 
53,974,461
 
Media & Entertainment 6.8%
Advantage Solutions, Inc. *(b)
833
31,171
Alphabet, Inc., Class A
76,828
29,220,761
Alphabet, Inc., Class C
61,756
23,246,811
AMC Global Media, Inc., Class A *
12,208
118,662
Angi, Inc. *
2,083
12,206
Cable One, Inc. *
1,023
53,759
Cargurus, Inc. *
2,172
64,856
Cars.com, Inc. *
4,495
46,209
Charter Communications, Inc., Class A *
12,519
1,803,362
Cinemark Holdings, Inc.
1,853
51,884
Clear Channel Outdoor Holdings, Inc. *
24,608
59,305
EchoStar Corp., Class A *(b)
3,114
402,298
Electronic Arts, Inc.
4,878
983,990
EW Scripps Co., Class A *
24,311
82,414
Fox Corp., Class A
15,652
1,000,476
Gray Media, Inc.
27,829
111,594
IAC, Inc. *
2,854
128,116
iHeartMedia, Inc., Class A *
36,669
158,043
John Wiley & Sons, Inc., Class A
2,642
111,175
Liberty Broadband Corp., Class C *
1,502
50,708
Liberty Media Corp.-Liberty Formula
One, Class C *
1,667
151,347
Live Nation Entertainment, Inc. *
365
61,470
Match Group, Inc.
5,425
196,005
Meta Platforms, Inc., Class A
24,120
15,256,141
Netflix, Inc. *
34,479
2,965,884
New York Times Co., Class A
2,442
183,663
News Corp., Class A
18,697
487,992
Nexstar Media Group, Inc.
2,328
415,385
NIQ Global Intelligence PLC *
744
6,205
Omnicom Group, Inc.
14,995
1,090,286
Optimum Communications, Inc.,
Class A *
138,064
90,874
Paramount Skydance Corp., Class B (b)
42,147
447,180
Pinterest, Inc., Class A *
6,238
125,072
Roku, Inc. *
1,026
133,565
Scholastic Corp. (b)
2,745
111,172
Shutterstock, Inc.
2,022
30,108
Sinclair, Inc.
10,575
146,252
Sirius XM Holdings, Inc.
26,502
782,339
Snap, Inc., Class A *
10,312
58,882
Take-Two Interactive Software, Inc. *
1,141
255,767
TKO Group Holdings, Inc.
262
53,757
Trade Desk, Inc., Class A *
1,977
42,624
TripAdvisor, Inc. *
4,867
54,413
USA TODAY Co., Inc. *
15,664
122,336
Versant Media Group, Inc.
8,092
349,089
Walt Disney Co.
41,868
4,263,418
Warner Bros Discovery, Inc. *
147,043
3,971,631
Warner Music Group Corp., Class A
1,812
57,150
Yelp, Inc. *
4,099
93,457
Ziff Davis, Inc. *
4,228
190,556
ZoomInfo Technologies, Inc. *
7,644
25,455
 
89,957,275
 
10
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Pharmaceuticals, Biotechnology & Life Sciences 5.7%
AbbVie, Inc.
29,952
6,521,149
Agilent Technologies, Inc.
5,614
760,865
Alkermes PLC *
713
30,081
Amgen, Inc.
12,827
4,320,005
Amneal Pharmaceuticals, Inc. *
3,252
42,829
Avantor, Inc. *
33,946
309,588
Azenta, Inc. *
1,428
32,673
Biogen, Inc. *
7,712
1,511,552
BioMarin Pharmaceutical, Inc. *
2,497
143,053
Bio-Rad Laboratories, Inc., Class A *
622
194,363
Bio-Techne Corp.
1,984
102,533
Bristol-Myers Squibb Co.
114,194
6,529,613
Bruker Corp.
3,189
187,800
Charles River Laboratories International,
Inc. *
1,476
266,728
Collegium Pharmaceutical, Inc. *
971
32,635
Corcept Therapeutics, Inc. *
932
64,765
Danaher Corp.
9,592
1,752,171
Elanco Animal Health, Inc. *
14,124
336,857
Eli Lilly & Co.
2,945
3,254,225
Emergent BioSolutions, Inc. *
9,416
85,874
Exelixis, Inc. *
3,648
184,151
Fortrea Holdings, Inc. *
18,363
282,607
Gilead Sciences, Inc.
29,196
3,924,818
Halozyme Therapeutics, Inc. *
1,131
75,257
ICON PLC *
1,269
172,673
Illumina, Inc. *
2,640
430,214
Incyte Corp. *
2,554
247,074
Innoviva, Inc. *
2,405
51,515
IQVIA Holdings, Inc. *
4,485
817,212
Ironwood Pharmaceuticals, Inc. *
26,497
94,594
Jazz Pharmaceuticals PLC *
2,019
477,473
Johnson & Johnson
52,633
11,859,794
Medpace Holdings, Inc. *
131
58,571
Merck & Co., Inc.
69,991
8,309,332
Mettler-Toledo International, Inc. *
302
356,535
Moderna, Inc. *
39,538
1,865,798
Myriad Genetics, Inc. *
6,380
25,329
Neurocrine Biosciences, Inc. *
942
149,119
Organon & Co.
48,874
651,979
Pacira BioSciences, Inc. *
1,672
38,824
Perrigo Co. PLC
4,745
52,432
Pfizer, Inc.
325,689
8,526,538
Prestige Consumer Healthcare, Inc. *
1,347
64,023
Regeneron Pharmaceuticals, Inc.
2,623
1,612,568
Repligen Corp. *
367
45,490
Revvity, Inc.
3,627
379,203
Royalty Pharma PLC, Class A
4,696
261,849
Sotera Health Co. *
2,908
45,481
Supernus Pharmaceuticals, Inc. *
1,046
48,304
Thermo Fisher Scientific, Inc.
7,198
3,545,087
United Therapeutics Corp. *
668
371,956
Vertex Pharmaceuticals, Inc. *
2,414
1,080,362
Viatris, Inc.
113,712
1,848,957
Waters Corp. *
1,848
708,837
West Pharmaceutical Services, Inc.
1,170
377,688
Zoetis, Inc.
6,792
527,670
 
76,048,673
 
Real Estate Management & Development 0.2%
CBRE Group, Inc., Class A *
7,825
978,438
Compass, Inc., Class A *
47,827
393,616
CoStar Group, Inc. *
2,753
88,646
Cushman & Wakefield Ltd. *
15,028
186,948
eXp World Holdings, Inc.
10,767
52,974
Jones Lang LaSalle, Inc. *
2,148
606,402
SECURITY
NUMBER
OF SHARES
VALUE ($)
Kennedy-Wilson Holdings, Inc.
6,661
73,338
Marcus & Millichap, Inc.
1,582
44,676
Newmark Group, Inc., Class A
4,168
58,227
Opendoor Technologies, Inc. *
47,476
239,279
Zillow Group, Inc., Class C *
2,539
88,865
 
2,811,409
 
Semiconductors & Semiconductor Equipment 8.4%
Advanced Micro Devices, Inc. *
9,346
4,823,471
Allegro MicroSystems, Inc. *
1,570
75,156
Alpha & Omega Semiconductor Ltd. *
1,546
70,111
Amkor Technology, Inc.
6,593
458,609
Analog Devices, Inc.
7,090
2,934,197
Applied Materials, Inc.
12,763
5,744,116
Axcelis Technologies, Inc. *
848
127,548
Broadcom, Inc.
17,887
7,991,375
Cirrus Logic, Inc. *
1,464
248,807
Cohu, Inc. *
2,393
126,231
Diodes, Inc. *
2,728
287,313
Enphase Energy, Inc. *
3,345
228,664
Entegris, Inc.
2,074
287,850
First Solar, Inc. *
1,130
346,673
FormFactor, Inc. *
1,455
181,278
GLOBALFOUNDRIES, Inc. *
2,717
217,278
Ichor Holdings Ltd. *
2,363
169,002
Intel Corp. *
275,021
31,539,408
KLA Corp.
1,122
2,156,159
Lam Research Corp.
15,813
5,031,380
Lattice Semiconductor Corp. *
943
138,696
MACOM Technology Solutions Holdings,
Inc. *
252
91,889
Marvell Technology, Inc.
5,602
1,148,410
MaxLinear, Inc. *
2,887
268,289
Microchip Technology, Inc.
14,125
1,336,931
Micron Technology, Inc.
20,147
19,562,737
MKS, Inc.
1,515
491,254
Monolithic Power Systems, Inc.
188
294,447
NVIDIA Corp.
32,210
6,800,819
ON Semiconductor Corp. *
12,750
1,537,905
Onto Innovation, Inc. *
601
155,202
Penguin Solutions, Inc. *
2,137
119,309
Photronics, Inc. *
2,879
93,136
Power Integrations, Inc.
1,860
156,240
Qnity Electronics, Inc.
7,645
1,192,620
Qorvo, Inc. *
5,523
571,962
QUALCOMM, Inc.
25,975
6,520,244
Rambus, Inc. *
669
97,313
Semtech Corp. *
518
79,016
Silicon Laboratories, Inc. *
928
201,933
Skyworks Solutions, Inc.
8,382
652,539
Synaptics, Inc. *
1,240
170,227
Teradyne, Inc.
3,141
1,175,708
Texas Instruments, Inc.
17,367
5,308,745
Ultra Clean Holdings, Inc. *
2,881
246,527
Universal Display Corp.
554
51,034
Veeco Instruments, Inc. *
284
16,370
 
111,524,128
 
Software & Services 4.3%
Accenture PLC, Class A
16,844
3,151,007
ACI Worldwide, Inc. *
2,344
102,362
Adobe, Inc. *
8,212
2,128,632
Akamai Technologies, Inc. *
4,707
703,885
Alarm.com Holdings, Inc. *
783
35,321
Amdocs Ltd.
5,504
346,587
AppLovin Corp., Class A *
283
173,504
Autodesk, Inc. *
1,425
329,617
  
11

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Blackbaud, Inc. *
964
29,585
BlackLine, Inc. *
420
12,348
Box, Inc., Class A *
570
15,367
Cadence Design Systems, Inc. *
1,360
509,905
CCC Intelligent Solutions Holdings, Inc. *
7,779
36,561
Cognizant Technology Solutions Corp.,
Class A
25,640
1,429,558
Commvault Systems, Inc. *
552
65,550
Consensus Cloud Solutions, Inc. *
1,258
43,212
CoreWeave, Inc., Class A *
88
9,639
Crowdstrike Holdings, Inc., Class A *
115
84,065
Datadog, Inc., Class A *
266
65,795
DigitalOcean Holdings, Inc. *
900
140,355
Docusign, Inc. *
933
49,001
Dolby Laboratories, Inc., Class A
1,881
104,979
Dropbox, Inc., Class A *
5,770
155,098
DXC Technology Co. *
35,390
350,715
Dynatrace, Inc. *
1,376
58,604
EPAM Systems, Inc. *
1,681
172,235
Everforth, Inc. *
4,906
111,268
Fair Isaac Corp. *
112
140,066
Fortinet, Inc. *
4,403
607,482
Gartner, Inc. *
1,666
270,225
Gen Digital, Inc.
14,990
386,592
Globant SA *
1,515
61,145
GoDaddy, Inc., Class A *
2,517
216,034
Guidewire Software, Inc. *
373
56,946
HubSpot, Inc. *
114
25,152
InterDigital, Inc.
249
62,770
International Business Machines Corp.
15,648
4,659,974
Intuit, Inc.
2,309
765,503
Kyndryl Holdings, Inc. *
13,908
173,433
LiveRamp Holdings, Inc. *
2,278
85,562
Manhattan Associates, Inc. *
463
69,473
Microsoft Corp.
63,490
28,585,738
MongoDB, Inc. *
34
11,409
NCR Voyix Corp. *
10,047
72,238
Okta, Inc. *
765
94,302
Oracle Corp.
20,601
4,651,294
Palantir Technologies, Inc., Class A *
483
75,609
Palo Alto Networks, Inc. *
1,594
449,014
Progress Software Corp. *
1,232
40,447
PTC, Inc. *
740
102,660
Qualys, Inc. *
532
58,142
Roper Technologies, Inc.
1,378
448,580
Salesforce, Inc.
9,856
1,883,482
ServiceNow, Inc. *
2,221
276,226
Snowflake, Inc., Class A *
263
67,210
SPS Commerce, Inc. *
416
23,608
Synopsys, Inc. *
1,013
481,803
Teradata Corp. *
4,701
160,069
Thryv Holdings, Inc. *
6,342
24,607
Trimble, Inc. *
3,866
218,081
Twilio, Inc., Class A *
1,332
253,932
Tyler Technologies, Inc. *
251
78,601
Unisys Corp. *
9,894
45,413
Unity Software, Inc. *
3,892
118,589
VeriSign, Inc.
704
200,908
Workday, Inc., Class A *
990
144,728
Zoom Communications, Inc., Class A *
3,524
358,003
 
56,919,805
 
Technology Hardware & Equipment 8.2%
Advanced Energy Industries, Inc.
556
168,012
Amphenol Corp., Class A
7,421
1,103,948
Apple, Inc.
182,451
56,935,659
Arista Networks, Inc. *
3,245
517,480
Arrow Electronics, Inc. *
6,289
1,349,808
SECURITY
NUMBER
OF SHARES
VALUE ($)
Avnet, Inc.
13,790
1,198,765
Badger Meter, Inc.
265
32,833
Belden, Inc.
999
104,975
Benchmark Electronics, Inc.
2,504
211,488
Calix, Inc. *
973
38,677
CDW Corp.
4,521
567,159
Ciena Corp. *
2,154
1,249,815
Cisco Systems, Inc.
92,018
11,080,807
Cognex Corp.
3,331
219,346
Coherent Corp. *
1,406
508,227
Corning, Inc.
13,982
2,532,979
Crane NXT Co.
1,182
45,909
CTS Corp.
972
62,412
Dell Technologies, Inc., Class C
6,326
2,662,677
Diebold Nixdorf, Inc. *
221
17,932
ePlus, Inc.
1,167
95,799
Everpure, Inc., Class A *
1,123
89,290
F5, Inc. *
924
354,308
Flex Ltd. *
11,103
1,674,110
Hewlett Packard Enterprise Co.
83,604
3,598,316
HP, Inc.
80,802
2,184,886
Ingram Micro Holding Corp.
3,389
95,739
Insight Enterprises, Inc. *
2,415
256,908
IPG Photonics Corp. *
1,216
139,256
Itron, Inc. *
943
77,779
Jabil, Inc.
3,389
1,235,494
Keysight Technologies, Inc. *
2,861
967,962
Kimball Electronics, Inc. *
2,077
53,857
Knowles Corp. *
3,082
115,298
Littelfuse, Inc.
648
302,532
Lumentum Holdings, Inc. *
1,030
880,609
Methode Electronics, Inc.
7,907
91,247
Mirion Technologies, Inc. *
437
7,988
Motorola Solutions, Inc.
1,478
596,048
NetApp, Inc.
5,190
904,565
NETGEAR, Inc. *
1,829
47,536
NetScout Systems, Inc. *
3,176
132,185
Novanta, Inc. *
390
62,139
OSI Systems, Inc. *
278
60,256
PC Connection, Inc.
975
67,850
Plexus Corp. *
941
252,527
Ralliant Corp.
1,546
95,651
Rogers Corp. *
902
127,651
Sandisk Corp. *
177
300,011
Sanmina Corp. *
2,615
679,194
ScanSource, Inc. *
2,317
107,208
Seagate Technology Holdings PLC
3,987
3,507,763
Super Micro Computer, Inc. *
5,925
273,083
TD SYNNEX Corp.
4,947
1,292,552
TE Connectivity PLC
6,211
1,325,489
Teledyne Technologies, Inc. *
623
386,154
TTM Technologies, Inc. *
2,358
409,632
Viasat, Inc. *
6,679
538,461
Viavi Solutions, Inc. *
5,923
287,621
Vishay Intertechnology, Inc.
13,392
697,054
Vistance Networks, Inc. *
14,639
182,695
Vontier Corp.
4,248
120,558
Western Digital Corp.
5,966
3,169,199
Xerox Holdings Corp. (b)
74,041
239,893
Zebra Technologies Corp., Class A *
1,280
311,846
 
109,005,107
 
Telecommunication Services 2.7%
Array Digital Infrastructure, Inc.
725
36,874
AT&T, Inc.
401,195
9,949,636
Cogent Communications Holdings, Inc.
2,339
41,541
Comcast Corp., Class A
281,374
6,997,771
IDT Corp., Class B
697
38,447
12
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
IHS Holding Ltd. *
9,050
75,115
Iridium Communications, Inc.
4,235
219,288
Liberty Capital Corp., Class C *
547
12,236
Liberty Global Ltd., Class C *
31,523
383,320
Liberty Latin America Ltd., Class C *
27,612
226,418
Lumen Technologies, Inc. *
244,671
2,688,934
Shenandoah Telecommunications Co.
3,146
50,179
Telephone & Data Systems, Inc.
6,019
235,403
T-Mobile U.S., Inc.
11,103
2,082,146
Uniti Group, Inc.
16,606
186,319
Verizon Communications, Inc.
254,233
12,154,880
 
35,378,507
 
Transportation 2.3%
Alaska Air Group, Inc. *
4,891
225,084
Allegiant Travel Co. *
1,476
135,216
American Airlines Group, Inc. *
12,725
186,294
ArcBest Corp.
2,404
328,603
Avis Budget Group, Inc. *
3,281
576,931
CH Robinson Worldwide, Inc.
5,041
900,575
Costamare, Inc.
551
8,474
Covenant Logistics Group, Inc., Class A
1,385
54,984
CSX Corp.
64,022
2,897,636
Delta Air Lines, Inc.
4,151
342,374
Expeditors International of Washington,
Inc.
6,820
1,077,492
FedEx Corp.
12,941
5,328,457
Forward Air Corp. *
2,275
24,069
Genco Shipping & Trading Ltd.
3,154
75,885
Global Ship Lease, Inc., Class A
1,841
67,068
GXO Logistics, Inc. *
4,789
239,977
Heartland Express, Inc.
4,676
70,093
Hertz Global Holdings, Inc. *(b)
37,887
204,590
Hub Group, Inc., Class A
5,912
245,584
JB Hunt Transport Services, Inc.
3,439
950,643
JetBlue Airways Corp. *
21,689
118,639
Kirby Corp. *
1,527
214,681
Knight-Swift Transportation Holdings,
Inc.
10,021
757,888
Landstar System, Inc.
2,339
483,939
Marten Transport Ltd.
5,632
97,096
Matson, Inc.
2,442
442,735
Norfolk Southern Corp.
6,725
2,050,856
Old Dominion Freight Line, Inc.
4,088
920,413
RXO, Inc. *
9,053
231,576
Ryder System, Inc.
3,182
798,205
Saia, Inc. *
639
301,844
Schneider National, Inc., Class B
3,655
129,168
SkyWest, Inc. *
1,469
125,820
Southwest Airlines Co.
3,992
171,456
Uber Technologies, Inc. *
5,836
410,854
U-Haul Holding Co., Non Voting Shares
4,677
243,298
Union Pacific Corp.
16,123
4,234,545
United Airlines Holdings, Inc. *
1,792
205,722
United Parcel Service, Inc., Class B
40,894
4,362,981
Werner Enterprises, Inc.
6,957
288,785
XPO, Inc. *
1,321
283,024
 
30,813,554
 
Utilities 2.9%
AES Corp.
49,115
720,517
Alliant Energy Corp.
6,187
443,051
Ameren Corp.
6,533
705,368
American Electric Power Co., Inc.
14,322
1,814,168
American States Water Co.
714
55,171
American Water Works Co., Inc.
3,554
438,102
Atmos Energy Corp.
2,431
411,155
SECURITY
NUMBER
OF SHARES
VALUE ($)
Avista Corp.
3,368
139,671
Black Hills Corp.
2,867
208,775
California Water Service Group
1,428
64,403
CenterPoint Energy, Inc.
16,886
713,602
Chesapeake Utilities Corp.
426
52,534
Clearway Energy, Inc., Class C
2,549
104,917
CMS Energy Corp.
7,995
580,197
Consolidated Edison, Inc.
11,786
1,244,955
Constellation Energy Corp.
2,999
862,962
Dominion Energy, Inc.
30,809
2,062,354
DTE Energy Co.
5,488
784,071
Duke Energy Corp.
24,836
3,048,122
Edison International
21,003
1,468,950
Entergy Corp.
11,276
1,229,648
Essential Utilities, Inc.
6,043
222,926
Evergy, Inc.
8,591
704,806
Eversource Energy
12,819
875,153
Exelon Corp.
36,771
1,678,228
FirstEnergy Corp.
19,019
882,291
H2O America
939
54,302
Hawaiian Electric Industries, Inc. *
12,677
168,604
IDACORP, Inc.
1,148
161,030
MDU Resources Group, Inc.
5,334
112,441
MGE Energy, Inc.
742
56,021
National Fuel Gas Co.
2,632
203,322
New Jersey Resources Corp.
2,904
160,446
NextEra Energy, Inc.
34,166
2,972,784
NiSource, Inc.
11,143
515,029
Northwest Natural Holding Co.
1,621
78,602
Northwestern Energy Group, Inc.
2,282
161,132
NRG Energy, Inc.
3,941
528,409
OGE Energy Corp.
6,681
315,544
ONE Gas, Inc.
2,031
157,890
Ormat Technologies, Inc.
884
121,311
Otter Tail Corp.
1,307
113,265
PG&E Corp.
74,828
1,222,690
Pinnacle West Capital Corp.
4,281
426,987
Portland General Electric Co.
4,459
223,485
PPL Corp.
23,322
825,366
Public Service Enterprise Group, Inc.
12,289
966,530
Sempra
15,942
1,420,910
Southern Co.
27,593
2,539,936
Southwest Gas Holdings, Inc.
2,586
222,939
Spire, Inc.
1,951
160,489
Talen Energy Corp. *
369
142,729
TXNM Energy, Inc.
2,760
163,420
UGI Corp.
12,904
450,608
Unitil Corp.
704
35,221
Vistra Corp.
5,290
847,617
WEC Energy Group, Inc.
7,431
825,213
Xcel Energy, Inc.
15,639
1,243,300
 
39,113,669
Total Common Stocks
(Cost $896,076,974)
1,322,205,974
INVESTMENT COMPANIES 0.1% OF NET ASSETS
 
Equity Funds 0.1%
iShares Core S&P Total U.S. Stock
Market ETF
3,500
579,180
Total Investment Companies
(Cost $503,028)
579,180
  
13

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
SHORT-TERM INVESTMENTS 0.2% OF NET ASSETS
 
Money Market Funds 0.2%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (e)
545,528
545,528
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (e)(f)
1,737,350
1,737,350
 
2,282,878
Total Short-Term Investments
(Cost $2,282,878)
2,282,878
Total Investments in Securities
(Cost $898,862,880)
1,325,068,032
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
S&P 500 Index, e-mini, expires
06/18/26
7
2,658,513
37,040
*
Non-income producing security.
(a)
Issuer is an affiliated company, as the investment adviser owns at least 5% of
the voting securities of such company.
(b)
All or a portion of this security is on loan.
(c)
Issuer is affiliated with the fund’s investment adviser.
(d)
Fair valued using significant unobservable inputs.
(e)
The rate shown is the annualized 7-day yield.
(f)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $1,669,892.
ETF —
Exchange-Traded Fund
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers and companies which are or were affiliates during the period ended May 31, 2026. An affiliated company is a company in which the investment adviser has or had an ownership of at least 5% of the voting securities of a security issue during the report period. A dash in the Value at February 28, 2026, and/or Value and Balance of Shares Held at May 31, 2026, columns means either the issuer was not held or not held as an affiliate on the stated date.
SECURITY
VALUE AT
2/28/26
PURCHASES
SALES
NET REALIZED
GAINS (LOSSES)
NET CHANGE
IN UNREALIZED
APPRECIATION
(DEPRECIATION)
VALUE AT
5/31/26
BALANCE
OF SHARES
HELD AT
5/31/26
DIVIDENDS
RECEIVED
COMMON STOCKS 0.1% OF NET ASSETS
 
Capital Goods 0.0%
JELD-WEN Holding, Inc. *
$68,575
$3,802
$
$
$8,820
$
$
 
Commercial & Professional Services 0.0%
TrueBlue, Inc. (a),*
61,593
4,454
(8,324
)
(12,012
)
36,205
81,916
13,191
 
Consumer Discretionary Distribution & Retail 0.0%
QVC Group, Inc.
132,188
(51,920
)
(466,740
)
386,472
 
Consumer Durables & Apparel 0.0%
Oxford Industries, Inc.
59,504
16,703
11,828
1,338
 
Equity Real Estate Investment Trusts (REITs) 0.0%
Service Properties Trust
109,291
5,419
(13,290
)
(43,899
)
19,845
417
 
Financial Services 0.1%
Charles Schwab Corp. (b)
1,440,471
125,923
(4,749
)
(567
)
(124,869
)
1,436,209
16,442
5,181
 
Food, Beverage & Tobacco 0.0%
Hain Celestial Group, Inc. (a),*
45,444
2,794
(5,915
)
(30,982
)
29,496
40,837
51,517
 
Health Care Equipment & Services 0.0%
Accendra Health, Inc. *
74,599
6,130
(4,833
)
(48,253
)
58,988
 
14
  

Schwab Fundamental U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
VALUE AT
2/28/26
PURCHASES
SALES
NET REALIZED
GAINS (LOSSES)
NET CHANGE
IN UNREALIZED
APPRECIATION
(DEPRECIATION)
VALUE AT
5/31/26
BALANCE
OF SHARES
HELD AT
5/31/26
DIVIDENDS
RECEIVED
Household & Personal Products 0.0%
Medifast, Inc. (a),*
$62,116
$3,727
($13,260
)
($6,448
)
$15,412
$61,547
4,912
$
Nu Skin Enterprises, Inc., Class A
139,216
6,997
(24,964
)
(18,687
)
(22,098
)
830
 
61,547
 
Materials 0.0%
Trinseo PLC
6,011
(5,750
)
 
Media & Entertainment 0.0%
AMC Global Media, Inc., Class A *
110,172
6,679
(14,475
)
(8,815
)
25,101
EW Scripps Co., Class A *
127,994
7,167
(28,094
)
(8,930
)
(15,723
)
Gray Media, Inc.
164,917
9,778
(27,017
)
(6,680
)
(29,404
)
2,557
 
Total
$2,602,091
$199,573
($196,841
)
($652,013
)
$394,323
$1,620,509
$10,323
(a)
Issuer is an affiliated company, as the investment adviser owns at least 5% of the voting securities of such company.
(b)
Issuer is affiliated with the fund’s investment adviser.
*
Non-income producing security.

The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks 1
$1,246,718,344
$
$
$1,246,718,344
Health Care Equipment & Services
75,487,630
0
*
75,487,630
Investment Companies 1
579,180
579,180
Short-Term Investments 1
2,282,878
2,282,878
Futures Contracts 2
37,040
37,040
Total
$1,325,105,072
$—
$0
$1,325,105,072
*
Level 3 amount shown includes securities determined to have no value.
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
  
15

Schwab Strategic Trust
Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.8% OF NET ASSETS
 
Automobiles & Components 2.0%
Adient PLC *
316,574
7,236,882
Aptiv PLC *
64,135
4,357,332
BorgWarner, Inc.
302,876
21,752,554
Dana, Inc.
233,421
8,265,438
Ford Motor Co.
8,731,558
152,278,371
General Motors Co.
2,253,540
187,584,669
Gentex Corp.
237,450
5,736,792
Goodyear Tire & Rubber Co. *
1,075,777
6,562,240
Harley-Davidson, Inc.
215,972
5,222,203
Lear Corp.
143,990
20,607,849
Tesla, Inc. *
198,244
86,392,753
Thor Industries, Inc.
112,604
8,904,724
Versigent PLC *
21,339
941,477
 
515,843,284
 
Banks 5.0%
Bank of America Corp.
4,284,525
221,081,490
Citigroup, Inc.
1,728,660
217,638,294
Citizens Financial Group, Inc.
343,284
21,372,862
East West Bancorp, Inc.
58,583
7,178,761
Fifth Third Bancorp
614,979
30,705,901
First Citizens BancShares, Inc.,
Class A
3,670
7,305,172
First Horizon Corp.
272,696
6,607,424
Flagstar Bank NA
259,602
3,650,004
Huntington Bancshares, Inc.
900,282
14,728,614
JPMorgan Chase & Co.
1,176,345
352,091,822
KeyCorp
774,578
16,521,749
M&T Bank Corp.
81,602
17,635,008
PNC Financial Services Group, Inc.
245,177
54,213,538
Popular, Inc.
12,109
1,798,550
Regions Financial Corp.
592,644
16,594,032
Truist Financial Corp.
1,011,977
48,787,411
U.S. Bancorp
1,100,066
60,338,620
Webster Financial Corp.
78,447
5,704,666
Wells Fargo & Co.
2,219,421
172,093,904
Zions Bancorp NA
148,653
9,283,380
 
1,285,331,202
 
Capital Goods 6.2%
3M Co.
298,420
45,697,055
A.O. Smith Corp.
77,665
4,405,159
Acuity, Inc.
20,391
6,221,498
Advanced Drainage Systems, Inc.
8,214
1,143,060
AECOM
81,599
5,660,523
AerCap Holdings NV
22,308
3,109,512
AGCO Corp.
90,910
10,207,375
Allegion PLC
8,513
1,107,286
Allison Transmission Holdings, Inc.
61,753
7,010,818
AMETEK, Inc.
57,402
12,964,242
Atkore, Inc.
76,124
6,303,828
Boeing Co. *
34,839
8,053,035
Boise Cascade Co.
102,757
7,164,218
Builders FirstSource, Inc. *
203,280
15,502,133
Carlisle Cos., Inc.
25,252
8,707,142
SECURITY
NUMBER
OF SHARES
VALUE ($)
Carrier Global Corp.
315,966
20,180,748
Caterpillar, Inc.
175,950
154,109,326
CNH Industrial NV
1,124,361
11,479,726
Cummins, Inc.
68,499
44,293,508
Deere & Co.
129,626
70,280,625
Donaldson Co., Inc.
55,969
4,582,182
Dover Corp.
62,840
13,281,862
Eaton Corp. PLC
95,022
38,065,813
EMCOR Group, Inc.
14,688
12,144,332
Emerson Electric Co.
249,242
35,845,984
Fastenal Co.
347,140
15,343,588
Ferguson Enterprises, Inc.
108,911
24,610,619
Fluor Corp. *
154,034
7,048,596
Fortive Corp.
135,660
7,911,691
Fortune Brands Innovations, Inc.
137,121
5,339,492
Gates Industrial Corp. PLC *
181,723
4,710,260
GE Vernova, Inc.
16,471
15,949,199
Generac Holdings, Inc. *
29,287
8,139,150
General Dynamics Corp.
132,866
46,080,586
General Electric Co.
128,485
41,598,304
Graco, Inc.
57,015
4,301,782
Herc Holdings, Inc.
7,357
978,481
Honeywell International, Inc.
306,571
72,920,978
Howmet Aerospace, Inc.
46,167
11,922,628
Hubbell, Inc.
15,983
7,569,709
Huntington Ingalls Industries, Inc.
30,380
9,362,205
IDEX Corp.
33,010
6,959,498
Illinois Tool Works, Inc.
113,766
28,132,056
Ingersoll Rand, Inc.
112,266
8,042,736
ITT, Inc.
30,136
5,876,520
Johnson Controls International PLC
237,467
31,834,826
L3Harris Technologies, Inc.
124,714
39,307,359
Lennox International, Inc.
2,416
1,213,219
Lincoln Electric Holdings, Inc.
22,561
5,831,793
Lockheed Martin Corp.
166,995
88,582,498
Masco Corp.
146,300
10,277,575
MasTec, Inc. *
25,752
9,743,784
Middleby Corp. *
34,833
5,399,463
MSC Industrial Direct Co., Inc.,
Class A
50,663
5,546,079
Mueller Industries, Inc.
59,731
7,681,407
Nordson Corp.
19,733
5,669,883
Northrop Grumman Corp.
80,055
45,125,402
nVent Electric PLC
51,791
8,648,579
Oshkosh Corp.
61,845
8,039,850
Otis Worldwide Corp.
132,441
9,382,120
Owens Corning
111,665
14,049,690
PACCAR, Inc.
341,127
37,650,187
Parker-Hannifin Corp.
27,600
23,311,788
Pentair PLC
58,235
4,125,367
Quanta Services, Inc.
31,256
22,245,833
Regal Rexnord Corp.
42,356
8,545,747
Resideo Technologies, Inc. *
170,771
5,340,009
Rockwell Automation, Inc.
34,560
15,588,634
RTX Corp.
519,187
93,277,136
Rush Enterprises, Inc., Class A
90,996
6,308,753
Sensata Technologies Holding PLC
191,754
9,470,730
Snap-on, Inc.
30,339
11,262,140
Stanley Black & Decker, Inc.
232,437
18,460,147
Textron, Inc.
140,737
12,914,027
Timken Co.
60,500
7,742,790
16
  

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Toro Co.
67,203
6,040,206
Trane Technologies PLC
11,568
5,220,638
TransDigm Group, Inc.
9,827
12,365,511
UFP Industries, Inc.
90,387
7,321,347
United Rentals, Inc.
30,706
30,573,043
Vertiv Holdings Co., Class A
5,755
1,816,911
Watsco, Inc.
18,192
6,678,283
WESCO International, Inc.
50,623
18,283,509
Westinghouse Air Brake
Technologies Corp.
62,974
16,446,290
WillScot Holdings Corp.
217,870
5,605,795
WW Grainger, Inc.
17,242
21,280,766
Xylem, Inc.
69,084
7,567,461
 
1,592,095,643
 
Commercial & Professional Services 0.8%
ABM Industries, Inc.
111,938
4,372,298
Automatic Data Processing, Inc.
115,513
25,625,404
Booz Allen Hamilton Holding Corp.,
Class A
82,629
6,542,564
Broadridge Financial Solutions, Inc.
31,412
4,828,653
CACI International, Inc., Class A *
12,188
6,258,660
Cintas Corp.
75,832
12,986,988
Clean Harbors, Inc. *
4,693
1,318,874
Concentrix Corp.
131,200
3,711,648
Copart, Inc. *
160,996
5,275,839
Equifax, Inc.
33,749
5,595,247
Genpact Ltd.
142,396
4,691,948
Jacobs Solutions, Inc.
83,772
10,040,912
KBR, Inc.
106,964
3,738,392
Leidos Holdings, Inc.
76,334
9,755,485
ManpowerGroup, Inc.
276,391
8,742,247
Maximus, Inc.
57,080
3,534,964
Paychex, Inc.
113,562
11,013,243
Republic Services, Inc.
58,457
11,717,121
Robert Half, Inc.
284,182
8,366,318
Science Applications International
Corp.
67,791
7,063,822
SS&C Technologies Holdings, Inc.
114,714
7,745,489
TransUnion
65,719
4,702,852
Veralto Corp.
61,380
5,047,278
Verisk Analytics, Inc.
37,862
6,625,471
Waste Management, Inc.
137,560
29,088,438
 
208,390,155
 
Consumer Discretionary Distribution & Retail 4.2%
Academy Sports & Outdoors, Inc.
136,469
7,205,563
Advance Auto Parts, Inc.
190,479
11,474,455
Amazon.com, Inc. *
1,748,024
473,085,215
American Eagle Outfitters, Inc.
296,733
4,688,382
Asbury Automotive Group, Inc. *
34,159
6,411,986
AutoNation, Inc. *
61,300
11,507,236
AutoZone, Inc. *
3,149
9,242,913
Bath & Body Works, Inc.
263,188
5,269,024
Best Buy Co., Inc.
421,000
32,816,950
Burlington Stores, Inc. *
16,793
5,438,077
CarMax, Inc. *
247,068
11,024,174
Coupang, Inc. *
121,752
2,021,083
Dick's Sporting Goods, Inc.
45,969
10,461,165
eBay, Inc.
362,423
39,601,961
Gap, Inc.
262,801
5,558,241
Genuine Parts Co.
116,640
11,512,368
Group 1 Automotive, Inc.
26,303
8,320,691
Home Depot, Inc.
415,710
131,838,270
Kohl's Corp.
1,063,158
15,266,949
Lithia Motors, Inc.
48,179
14,014,789
LKQ Corp.
473,608
12,844,249
SECURITY
NUMBER
OF SHARES
VALUE ($)
Lowe's Cos., Inc.
385,570
82,650,785
Macy's, Inc.
993,036
21,608,463
Murphy USA, Inc.
20,736
10,493,038
O'Reilly Automotive, Inc. *
232,144
20,168,671
Penske Automotive Group, Inc.
27,964
4,680,335
Pool Corp.
20,296
3,681,694
Ross Stores, Inc.
106,356
24,645,876
Signet Jewelers Ltd.
68,304
5,969,087
TJX Cos., Inc.
322,014
49,831,667
Tractor Supply Co.
244,889
7,721,350
Ulta Beauty, Inc. *
18,407
9,366,402
Williams-Sonoma, Inc.
49,965
10,171,375
 
1,080,592,484
 
Consumer Durables & Apparel 1.3%
Brunswick Corp.
118,436
9,920,199
Capri Holdings Ltd. *
378,756
7,010,774
Carter's, Inc.
126,615
4,886,073
Crocs, Inc. *
55,750
6,615,853
Deckers Outdoor Corp. *
66,191
7,535,845
DR Horton, Inc.
286,947
42,207,034
Hasbro, Inc.
99,930
8,610,968
KB Home
100,223
4,896,896
Leggett & Platt, Inc.
492,360
5,056,537
Lennar Corp., Class A
323,467
29,040,867
M/I Homes, Inc. *
34,508
4,541,943
Mattel, Inc. *
279,260
4,172,144
Meritage Homes Corp.
112,325
7,328,083
Mohawk Industries, Inc. *
97,427
10,465,608
Newell Brands, Inc.
1,902,041
6,466,939
NIKE, Inc., Class B
872,986
40,358,143
NVR, Inc. *
2,329
14,218,079
Polaris, Inc.
125,511
8,857,311
PulteGroup, Inc.
207,109
24,476,142
PVH Corp.
140,182
13,076,177
Ralph Lauren Corp.
18,184
6,617,158
Somnigroup International, Inc.
56,498
4,000,623
Tapestry, Inc.
98,743
14,363,157
Taylor Morrison Home Corp. *
148,690
8,698,365
Toll Brothers, Inc.
83,211
11,528,052
TopBuild Corp. *
12,891
5,381,735
VF Corp.
766,297
13,164,983
Whirlpool Corp.
176,614
7,668,580
 
331,164,268
 
Consumer Services 1.2%
ADT, Inc.
648,747
4,353,092
Airbnb, Inc., Class A *
13,896
1,852,476
Aramark
149,945
8,004,064
Booking Holdings, Inc.
192,298
32,196,454
Boyd Gaming Corp.
15,620
1,291,462
Caesars Entertainment, Inc. *
401,049
11,650,473
Carnival Corp. Ltd.
169,372
4,752,578
Chipotle Mexican Grill, Inc. *
268,279
8,547,369
Darden Restaurants, Inc.
59,006
12,031,913
Domino's Pizza, Inc.
13,890
4,313,956
Expedia Group, Inc.
38,491
8,690,883
Flutter Entertainment PLC *
42,318
4,104,000
Hilton Worldwide Holdings, Inc.
37,292
12,219,097
Las Vegas Sands Corp.
107,375
5,429,954
Marriott International, Inc., Class A
40,645
15,266,262
Marriott Vacations Worldwide Corp.
77,140
6,547,643
McDonald's Corp.
223,935
62,522,652
MGM Resorts International *
279,323
12,198,035
Penn Entertainment, Inc. *
348,322
6,558,903
Royal Caribbean Cruises Ltd.
16,466
4,686,718
Service Corp. International
76,689
5,766,246
  
17

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Starbucks Corp.
487,808
48,371,041
Texas Roadhouse, Inc.
25,029
4,520,738
Vail Resorts, Inc.
32,771
4,378,206
Yum! Brands, Inc.
97,023
14,354,553
 
304,608,768
 
Consumer Staples Distribution & Retail 2.9%
Albertsons Cos., Inc., Class A
827,272
12,913,716
Andersons, Inc.
118,169
8,341,550
BJ's Wholesale Club Holdings, Inc. *
78,790
6,719,211
Casey's General Stores, Inc.
19,634
15,062,027
Costco Wholesale Corp.
141,964
135,763,012
Dollar General Corp.
289,829
32,057,986
Dollar Tree, Inc. *
204,817
23,848,891
Kroger Co.
887,972
55,187,460
Performance Food Group Co. *
178,952
17,571,297
Sprouts Farmers Market, Inc. *
54,314
4,487,423
Sysco Corp.
305,751
23,178,983
Target Corp.
798,634
101,482,422
U.S. Foods Holding Corp. *
212,893
17,425,292
United Natural Foods, Inc. *
281,969
14,479,108
Walmart, Inc.
2,229,700
258,087,775
 
726,606,153
 
Energy 9.3%
Antero Resources Corp. *
272,143
9,729,112
APA Corp.
828,690
30,189,177
Baker Hughes Co.
601,988
38,454,993
California Resources Corp.
99,937
5,925,265
Cheniere Energy, Inc.
110,993
24,957,886
Chevron Corp.
2,071,051
377,883,966
Chord Energy Corp.
85,530
11,278,841
CNX Resources Corp. *
159,505
5,373,723
ConocoPhillips
1,474,169
168,025,783
Devon Energy Corp.
1,489,548
66,269,991
Diamondback Energy, Inc.
98,930
18,943,116
EOG Resources, Inc.
566,507
75,560,704
EQT Corp.
292,378
16,060,324
Expand Energy Corp.
219,309
20,391,351
Exxon Mobil Corp.
4,011,645
582,731,553
Halliburton Co.
892,572
34,676,422
Helmerich & Payne, Inc.
185,988
7,095,442
HF Sinclair Corp.
472,743
33,040,008
Kinder Morgan, Inc.
1,309,902
40,711,754
Liberty Energy, Inc.
51,047
1,493,635
Marathon Petroleum Corp.
645,426
160,562,626
Matador Resources Co.
102,893
5,515,065
Murphy Oil Corp.
286,555
10,370,425
NOV, Inc.
470,270
9,386,589
Occidental Petroleum Corp.
934,487
52,919,999
ONEOK, Inc.
338,315
28,398,161
Ovintiv, Inc.
587,304
32,912,516
Patterson-UTI Energy, Inc.
741,214
8,309,009
PBF Energy, Inc., Class A
623,115
25,360,781
Peabody Energy Corp.
301,249
8,148,785
Permian Resources Corp., Class A
86,854
1,670,202
Phillips 66
679,235
119,463,852
Range Resources Corp.
184,765
7,196,597
SLB Ltd.
1,115,157
60,831,814
SM Energy Co.
469,076
14,405,324
Targa Resources Corp.
80,230
20,464,266
TechnipFMC PLC
152,000
10,399,840
Valero Energy Corp.
742,160
181,695,611
Williams Cos., Inc.
470,224
33,569,291
World Kinect Corp.
450,934
12,991,409
 
2,373,365,208
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Equity Real Estate Investment Trusts (REITs) 1.5%
Alexandria Real Estate Equities, Inc.
154,676
7,684,304
American Tower Corp.
143,312
26,793,612
AvalonBay Communities, Inc.
52,642
9,607,691
BXP, Inc.
134,871
8,093,609
Camden Property Trust
46,932
5,001,074
Crown Castle, Inc.
223,757
20,473,765
Digital Realty Trust, Inc.
102,650
19,503,500
Equinix, Inc.
18,546
19,807,870
Equity Residential
188,398
12,330,649
Essex Property Trust, Inc.
24,470
6,671,501
Extra Space Storage, Inc.
50,173
7,240,466
Gaming & Leisure Properties, Inc.
98,760
4,638,757
Healthpeak Properties, Inc.
424,756
8,134,077
Host Hotels & Resorts, Inc.
473,104
10,871,930
Invitation Homes, Inc.
223,513
6,537,755
Iron Mountain, Inc.
95,106
12,197,344
Kimco Realty Corp.
262,257
6,315,149
Lamar Advertising Co., Class A
36,656
5,588,574
Mid-America Apartment
Communities, Inc.
51,759
6,680,534
Prologis, Inc.
218,309
31,320,792
Public Storage
40,780
12,384,478
Realty Income Corp.
183,100
11,220,368
Regency Centers Corp.
64,641
4,999,981
SBA Communications Corp.
33,874
6,881,842
Simon Property Group, Inc.
94,314
19,325,882
Sun Communities, Inc.
50,675
6,266,470
UDR, Inc.
145,820
5,380,758
Ventas, Inc.
156,237
13,189,528
VICI Properties, Inc.
271,372
7,658,118
Vornado Realty Trust
82,326
2,778,503
Welltower, Inc.
96,626
19,840,217
Weyerhaeuser Co.
848,820
20,804,578
WP Carey, Inc.
83,813
6,237,363
 
372,461,039
 
Financial Services 6.5%
Affiliated Managers Group, Inc.
25,387
7,688,453
AGNC Investment Corp.
456,476
4,751,915
Ally Financial, Inc.
523,956
22,430,556
American Express Co.
174,382
55,186,671
Ameriprise Financial, Inc.
45,781
20,405,049
Annaly Capital Management, Inc.
455,149
9,945,006
Apollo Global Management, Inc.
62,873
8,092,384
ARES Management Corp., Class A
9,796
1,258,786
Bank of New York Mellon Corp.
381,225
53,154,202
Berkshire Hathaway, Inc., Class B *
756,655
359,017,664
Blackrock, Inc.
43,886
45,943,376
Blackstone, Inc.
144,544
16,907,312
Block, Inc. *
218,498
16,544,669
Bread Financial Holdings, Inc.
100,104
8,916,263
Capital One Financial Corp.
476,589
89,565,371
Carlyle Group, Inc.
124,525
5,657,171
Cboe Global Markets, Inc.
6,822
2,275,546
Charles Schwab Corp. (a)
340,805
29,769,317
CME Group, Inc.
80,423
21,998,907
Corebridge Financial, Inc.
324,230
8,754,210
Corpay, Inc. *
33,002
11,940,124
Equitable Holdings, Inc.
164,893
6,818,325
Evercore, Inc., Class A
21,858
7,450,518
Fidelity National Information
Services, Inc.
452,745
19,463,507
Fiserv, Inc. *
406,284
22,979,423
Franklin Resources, Inc.
380,778
11,811,734
Global Payments, Inc.
307,157
23,193,425
Goldman Sachs Group, Inc.
144,860
148,562,622
18
  

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Intercontinental Exchange, Inc.
141,498
20,920,479
Invesco Ltd.
408,845
11,635,729
Jack Henry & Associates, Inc.
29,739
4,054,020
Jackson Financial, Inc., Class A
77,339
7,974,424
Jefferies Financial Group, Inc.
118,001
6,221,013
KKR & Co., Inc.
102,926
9,874,720
LPL Financial Holdings, Inc.
23,923
6,549,400
Mastercard, Inc., Class A
112,849
55,745,149
MGIC Investment Corp.
180,779
4,559,246
Moody's Corp.
29,967
13,582,543
Morgan Stanley
544,142
113,181,536
MSCI, Inc.
11,634
7,345,475
Nasdaq, Inc.
106,133
9,819,425
Northern Trust Corp.
99,717
16,498,178
OneMain Holdings, Inc.
243,761
13,482,421
PayPal Holdings, Inc.
758,281
33,933,075
PROG Holdings, Inc.
178,097
6,548,627
Raymond James Financial, Inc.
67,163
9,631,846
Rithm Capital Corp.
605,870
5,646,708
Rocket Cos., Inc., Class A *
80,751
1,171,697
S&P Global, Inc.
78,460
33,267,040
SEI Investments Co.
68,236
5,996,580
SLM Corp.
256,465
5,673,006
Starwood Property Trust, Inc.
285,332
4,873,471
State Street Corp.
223,603
34,801,571
StoneX Group, Inc. *
68,638
7,780,117
Synchrony Financial
644,345
46,032,007
T. Rowe Price Group, Inc.
267,232
27,933,761
Visa, Inc., Class A
257,616
84,075,558
Voya Financial, Inc.
68,664
5,576,890
Western Union Co.
854,527
6,947,304
 
1,661,815,522
 
Food, Beverage & Tobacco 3.1%
Altria Group, Inc.
1,055,567
73,446,352
Archer-Daniels-Midland Co.
1,090,979
87,038,305
Brown-Forman Corp., Class B
206,690
5,316,067
Bunge Global SA
415,376
51,215,861
Campbell's Co. (b)
232,682
4,911,917
Coca-Cola Co.
1,081,987
85,487,793
Coca-Cola Consolidated, Inc.
8,000
1,386,080
Conagra Brands, Inc.
853,146
11,329,779
Constellation Brands, Inc., Class A
119,636
16,607,869
Darling Ingredients, Inc. *
160,536
9,487,678
Flowers Foods, Inc.
360,171
2,751,706
General Mills, Inc.
624,863
21,126,618
Hershey Co.
63,007
12,225,248
Hormel Foods Corp.
325,365
7,558,229
Ingredion, Inc.
70,767
7,178,604
J.M. Smucker Co.
119,930
12,376,776
Keurig Dr. Pepper, Inc.
737,851
22,157,666
Kraft Heinz Co.
1,367,385
32,830,914
Lamb Weston Holdings, Inc.
113,253
4,890,265
McCormick & Co., Inc. - Non Voting
Shares
126,528
5,993,631
Molson Coors Beverage Co., Class B
268,058
10,596,333
Mondelez International, Inc., Class A
864,386
52,874,492
Monster Beverage Corp. *
129,104
11,371,480
PepsiCo, Inc.
728,100
104,984,739
Philip Morris International, Inc.
496,275
88,029,259
Post Holdings, Inc. *
43,662
4,009,918
Tyson Foods, Inc., Class A
689,503
42,073,473
 
789,257,052
 
Health Care Equipment & Services 5.9%
Abbott Laboratories
669,755
57,331,028
Align Technology, Inc. *
48,281
8,446,761
SECURITY
NUMBER
OF SHARES
VALUE ($)
AMN Healthcare Services, Inc. *
221,205
6,408,309
Baxter International, Inc.
776,939
14,590,914
Becton Dickinson & Co.
165,849
24,399,705
Boston Scientific Corp. *
212,636
10,272,445
Cardinal Health, Inc.
84,699
16,668,763
Cencora, Inc.
45,933
12,372,513
Centene Corp. *
1,821,053
108,534,759
Cigna Group
429,500
119,143,300
Community Health Systems, Inc. *
1,127,572
3,066,996
Cooper Cos., Inc. *
82,118
5,026,443
CVS Health Corp.
2,557,080
232,643,138
DaVita, Inc. *
55,574
10,801,363
Dentsply Sirona, Inc.
472,904
4,951,305
Edwards Lifesciences Corp. *
180,481
15,606,192
Elevance Health, Inc.
327,998
128,965,534
Encompass Health Corp.
39,956
4,229,343
GE HealthCare Technologies, Inc.
230,583
14,374,544
HCA Healthcare, Inc.
103,306
39,105,453
Henry Schein, Inc. *
139,101
10,652,354
Humana, Inc.
265,740
81,162,311
IDEXX Laboratories, Inc. *
11,168
6,293,503
Intuitive Surgical, Inc. *
29,993
12,736,227
Labcorp Holdings, Inc.
105,585
27,458,435
McKesson Corp.
36,797
27,319,565
Medtronic PLC
212,549
15,688,242
Molina Healthcare, Inc. *
101,287
17,583,423
Quest Diagnostics, Inc.
76,523
14,914,333
QuidelOrtho Corp. *
171,467
2,232,500
ResMed, Inc.
30,289
5,772,175
Solventum Corp. *
169,315
12,690,159
STERIS PLC
34,214
7,278,344
Stryker Corp.
77,653
23,691,154
Teleflex, Inc.
44,512
5,726,024
Tenet Healthcare Corp. *
63,656
11,160,170
UnitedHealth Group, Inc.
919,433
349,669,564
Universal Health Services, Inc.,
Class B
72,672
10,618,106
Zimmer Biomet Holdings, Inc.
146,285
12,043,644
 
1,491,629,041
 
Household & Personal Products 1.0%
Church & Dwight Co., Inc.
101,505
9,706,923
Clorox Co.
61,185
5,507,874
Colgate-Palmolive Co.
320,412
28,878,733
Estee Lauder Cos., Inc., Class A
171,406
15,246,564
Kenvue, Inc.
1,194,870
20,647,354
Kimberly-Clark Corp.
194,044
18,938,694
Procter & Gamble Co.
1,165,288
167,288,745
Spectrum Brands Holdings, Inc.
16,590
1,305,467
 
267,520,354
 
Insurance 2.3%
Aflac, Inc.
330,825
37,191,346
Allstate Corp.
182,252
37,560,315
American Financial Group, Inc.
77,231
10,024,584
American International Group, Inc.
777,229
57,693,709
Aon PLC, Class A
80,119
25,322,411
Arch Capital Group Ltd. *
42,625
3,808,117
Arthur J Gallagher & Co.
46,306
9,312,600
Assurant, Inc.
26,749
6,657,024
Brown & Brown, Inc.
59,694
3,357,787
Chubb Ltd.
144,137
44,931,827
Cincinnati Financial Corp.
86,249
13,577,318
CNO Financial Group, Inc.
120,310
5,530,651
Everest Group Ltd.
8,204
2,658,342
F&G Annuities & Life, Inc.
6,581
182,425
Fidelity National Financial, Inc.
197,852
9,368,292
  
19

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
First American Financial Corp.
123,854
8,202,850
Genworth Financial, Inc., Class A *
597,319
5,113,051
Globe Life, Inc.
39,507
6,054,053
Hartford Insurance Group, Inc.
157,548
20,029,077
Lincoln National Corp.
221,768
7,826,193
Loews Corp.
96,674
10,010,593
Markel Group, Inc. *
6,060
11,002,475
Marsh & McLennan Cos., Inc.
168,601
26,971,102
MetLife, Inc.
500,339
41,373,032
Old Republic International Corp.
227,751
8,479,170
Primerica, Inc.
16,936
4,572,212
Principal Financial Group, Inc.
200,209
20,745,657
Progressive Corp.
173,711
33,074,574
Prudential Financial, Inc.
293,298
29,517,511
Reinsurance Group of America, Inc.,
Class A
32,250
6,473,865
RenaissanceRe Holdings Ltd.
5,753
1,612,853
Travelers Cos., Inc.
129,043
37,666,361
Unum Group
121,841
10,140,826
W.R. Berkley Corp.
112,582
7,153,460
Willis Towers Watson PLC
43,968
10,977,491
 
574,173,154
 
Materials 3.9%
Air Products & Chemicals, Inc.
91,423
25,472,276
Albemarle Corp.
93,974
16,578,893
Alcoa Corp.
303,997
23,602,327
Alpha Metallurgical Resources, Inc. *
32,010
6,369,030
Amcor PLC
365,508
14,189,021
AptarGroup, Inc.
34,748
4,025,556
Ashland, Inc.
88,050
5,098,095
Avery Dennison Corp.
50,345
8,008,379
Axalta Coating Systems Ltd. *
150,712
4,637,408
Ball Corp.
247,385
13,524,538
Celanese Corp.
260,785
13,855,507
CF Industries Holdings, Inc.
204,005
22,919,962
Chemours Co.
383,963
8,508,620
Cleveland-Cliffs, Inc. *
1,698,562
23,100,443
Commercial Metals Co.
160,763
12,226,026
Corteva, Inc.
376,044
29,436,724
CRH PLC
384,949
41,878,602
Crown Holdings, Inc.
90,753
8,628,795
Dow, Inc.
2,279,855
76,945,106
DuPont de Nemours, Inc.
494,009
23,919,916
Eagle Materials, Inc.
21,669
4,792,749
Eastman Chemical Co.
212,395
16,114,409
Ecolab, Inc.
64,473
16,505,088
FMC Corp.
427,556
5,840,415
Freeport-McMoRan, Inc.
800,796
52,620,305
Graphic Packaging Holding Co.
474,995
5,348,444
Huntsman Corp.
810,113
12,435,235
International Flavors & Fragrances,
Inc.
200,770
15,268,558
International Paper Co.
541,815
18,134,548
James Hardie Industries PLC *
68,045
1,584,088
Linde PLC
147,655
73,486,417
Louisiana-Pacific Corp.
63,391
4,841,805
LyondellBasell Industries NV, Class A
736,646
49,097,456
Martin Marietta Materials, Inc.
16,843
9,796,562
Mosaic Co.
777,232
18,575,845
Newmont Corp.
368,978
40,517,474
Nucor Corp.
398,513
99,628,250
O-I Glass, Inc. *
346,381
3,030,834
Olin Corp.
513,543
13,285,357
Packaging Corp. of America
61,144
13,385,033
PPG Industries, Inc.
173,541
19,606,662
Reliance, Inc.
71,393
27,184,313
RPM International, Inc.
66,097
7,004,299
SECURITY
NUMBER
OF SHARES
VALUE ($)
Sherwin-Williams Co.
50,334
15,293,483
Smurfit Westrock PLC
85,555
3,520,588
Solstice Advanced Materials, Inc.
69,187
5,827,621
Sonoco Products Co.
142,362
6,930,182
Steel Dynamics, Inc.
188,498
49,037,755
Vulcan Materials Co.
35,785
10,124,292
Westlake Corp.
59,386
5,156,486
 
1,006,899,777
 
Media & Entertainment 7.0%
Alphabet, Inc., Class A
1,594,248
606,356,284
Alphabet, Inc., Class C
1,281,476
482,386,011
Charter Communications, Inc.,
Class A *
258,991
37,307,654
Electronic Arts, Inc.
101,119
20,397,725
Fox Corp., Class A
325,501
20,806,024
Meta Platforms, Inc., Class A
500,128
316,335,961
Netflix, Inc. *
714,421
61,454,494
News Corp., Class A
390,557
10,193,538
Nexstar Media Group, Inc.
48,270
8,612,816
Omnicom Group, Inc.
311,617
22,657,672
Optimum Communications, Inc.,
Class A *
2,869,900
1,888,968
Paramount Skydance Corp.,
Class B (b)
896,993
9,517,096
Sirius XM Holdings, Inc.
367,389
10,845,323
Take-Two Interactive Software, Inc. *
23,924
5,362,804
Versant Media Group, Inc.
168,320
7,261,325
Walt Disney Co.
869,006
88,490,881
Warner Bros Discovery, Inc. *
3,052,247
82,441,191
 
1,792,315,767
 
Pharmaceuticals, Biotechnology & Life Sciences 6.0%
AbbVie, Inc.
621,280
135,265,082
Agilent Technologies, Inc.
116,584
15,800,630
Amgen, Inc.
266,328
89,696,607
Avantor, Inc. *
702,533
6,407,101
Biogen, Inc. *
160,608
31,479,168
Bristol-Myers Squibb Co.
2,370,545
135,547,763
Charles River Laboratories
International, Inc. *
30,475
5,507,137
Danaher Corp.
199,687
36,476,824
Elanco Animal Health, Inc. *
294,340
7,020,009
Eli Lilly & Co.
61,063
67,474,615
Gilead Sciences, Inc.
605,282
81,368,059
ICON PLC *
26,768
3,642,322
Illumina, Inc. *
54,916
8,949,111
Incyte Corp. *
15,243
1,474,608
IQVIA Holdings, Inc. *
93,355
17,010,215
Jazz Pharmaceuticals PLC *
41,893
9,907,276
Johnson & Johnson
1,092,411
246,152,971
Merck & Co., Inc.
1,453,040
172,504,909
Mettler-Toledo International, Inc. *
6,212
7,333,763
Moderna, Inc. *
819,341
38,664,702
Organon & Co.
1,033,862
13,791,719
Perrigo Co. PLC
97,607
1,078,557
Pfizer, Inc.
6,758,495
176,937,399
Regeneron Pharmaceuticals, Inc.
54,575
33,551,618
Revvity, Inc.
75,429
7,886,102
Thermo Fisher Scientific, Inc.
149,140
73,452,941
United Therapeutics Corp. *
13,696
7,626,207
Vertex Pharmaceuticals, Inc. *
50,125
22,432,942
Viatris, Inc.
2,391,271
38,882,066
Waters Corp. *
38,645
14,823,063
20
  

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
West Pharmaceutical Services, Inc.
24,252
7,828,788
Zoetis, Inc.
141,510
10,993,912
 
1,526,968,186
 
Real Estate Management & Development 0.1%
CBRE Group, Inc., Class A *
162,080
20,266,483
Cushman & Wakefield Ltd. *
321,166
3,995,305
Jones Lang LaSalle, Inc. *
44,517
12,567,595
 
36,829,383
 
Semiconductors & Semiconductor Equipment 8.7%
Advanced Micro Devices, Inc. *
194,013
100,130,109
Analog Devices, Inc.
147,176
60,908,787
Applied Materials, Inc.
265,001
119,266,350
Broadcom, Inc.
371,195
165,838,790
First Solar, Inc. *
23,387
7,174,898
Intel Corp. *
5,712,688
655,131,060
KLA Corp.
23,346
44,864,242
Lam Research Corp.
328,340
104,471,221
Marvell Technology, Inc.
115,655
23,709,275
Microchip Technology, Inc.
293,698
27,798,516
Micron Technology, Inc.
418,656
406,514,976
Monolithic Power Systems, Inc.
1,084
1,697,772
NVIDIA Corp.
667,387
140,912,091
ON Semiconductor Corp. *
264,770
31,936,557
Qnity Electronics, Inc.
158,360
24,704,160
Qorvo, Inc. *
115,368
11,947,510
QUALCOMM, Inc.
538,457
135,163,476
Skyworks Solutions, Inc.
174,376
13,575,172
Teradyne, Inc.
65,031
24,341,754
Texas Instruments, Inc.
360,370
110,157,901
 
2,210,244,617
 
Software & Services 4.4%
Accenture PLC, Class A
349,331
65,349,350
Adobe, Inc. *
169,818
44,018,524
Akamai Technologies, Inc. *
97,343
14,556,672
Amdocs Ltd.
114,151
7,188,088
Autodesk, Inc. *
29,336
6,785,710
Cadence Design Systems, Inc. *
28,228
10,583,524
Cognizant Technology Solutions
Corp., Class A
531,408
29,628,653
DXC Technology Co. *
741,061
7,343,915
EPAM Systems, Inc. *
34,314
3,515,812
Everforth, Inc. *
104,285
2,365,184
Fortinet, Inc. *
91,371
12,606,457
Gartner, Inc. *
34,312
5,565,406
Gen Digital, Inc.
309,548
7,983,243
GoDaddy, Inc., Class A *
52,578
4,512,770
International Business Machines
Corp.
324,473
96,628,059
Intuit, Inc.
47,504
15,749,001
Kyndryl Holdings, Inc. *
296,531
3,697,742
Microsoft Corp.
1,316,029
592,528,897
Oracle Corp.
426,880
96,380,966
Palo Alto Networks, Inc. *
32,924
9,274,362
Roper Technologies, Inc.
28,538
9,289,975
Salesforce, Inc.
204,170
39,016,887
ServiceNow, Inc. *
46,489
5,781,837
Synopsys, Inc. *
21,004
9,989,923
Trimble, Inc. *
80,853
4,560,918
SECURITY
NUMBER
OF SHARES
VALUE ($)
Workday, Inc., Class A *
9,830
1,437,048
Zoom Communications, Inc.,
Class A *
73,114
7,427,651
 
1,113,766,574
 
Technology Hardware & Equipment 8.4%
Amphenol Corp., Class A
153,722
22,867,685
Apple, Inc.
3,784,387
1,180,955,807
Arista Networks, Inc. *
67,620
10,783,361
Arrow Electronics, Inc. *
132,252
28,385,247
Avnet, Inc.
290,374
25,242,212
CDW Corp.
93,485
11,727,693
Ciena Corp. *
44,882
26,041,883
Cisco Systems, Inc.
1,909,329
229,921,398
Corning, Inc.
290,266
52,584,589
Dell Technologies, Inc., Class C
131,109
55,185,089
F5, Inc. *
19,266
7,387,548
Flex Ltd. *
230,750
34,792,485
Hewlett Packard Enterprise Co.
1,734,157
74,638,117
HP, Inc.
1,677,555
45,361,087
Insight Enterprises, Inc. *
50,512
5,373,467
Jabil, Inc.
70,494
25,699,293
Keysight Technologies, Inc. *
59,209
20,032,181
Motorola Solutions, Inc.
30,681
12,373,034
NetApp, Inc.
107,273
18,696,611
Ralliant Corp.
9,410
582,197
Sandisk Corp. *
3,574
6,057,859
Sanmina Corp. *
54,143
14,062,561
Seagate Technology Holdings PLC
82,918
72,951,256
Super Micro Computer, Inc. *
51,319
2,365,293
TD SYNNEX Corp.
102,594
26,805,760
TE Connectivity PLC
128,917
27,512,177
Teledyne Technologies, Inc. *
12,777
7,919,568
Vishay Intertechnology, Inc.
280,600
14,605,230
Western Digital Corp.
124,077
65,910,943
Xerox Holdings Corp. (b)
1,572,254
5,094,103
Zebra Technologies Corp., Class A *
26,518
6,460,580
 
2,138,376,314
 
Telecommunication Services 2.8%
AT&T, Inc.
8,323,442
206,421,362
Comcast Corp., Class A
5,835,553
145,130,203
Liberty Global Ltd., Class C *
664,004
8,074,289
Liberty Latin America Ltd., Class C *
580,100
4,756,820
Lumen Technologies, Inc. *
5,135,557
56,439,771
Telephone & Data Systems, Inc.
125,076
4,891,722
T-Mobile U.S., Inc.
230,035
43,138,464
Verizon Communications, Inc.
5,275,321
252,213,097
 
721,065,728
 
Transportation 2.3%
Alaska Air Group, Inc. *
101,888
4,688,886
Avis Budget Group, Inc. *
67,633
11,892,587
CH Robinson Worldwide, Inc.
104,860
18,733,239
CSX Corp.
1,328,900
60,146,014
Delta Air Lines, Inc.
86,981
7,174,193
Expeditors International of
Washington, Inc.
141,561
22,365,222
FedEx Corp.
268,600
110,596,050
GXO Logistics, Inc. *
99,583
4,990,104
Hertz Global Holdings, Inc. *(b)
785,246
4,240,328
Hub Group, Inc., Class A
125,126
5,197,734
JB Hunt Transport Services, Inc.
71,320
19,714,988
Knight-Swift Transportation
Holdings, Inc.
208,708
15,784,586
Landstar System, Inc.
48,059
9,943,407
  
21

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Matson, Inc.
51,051
9,255,546
Norfolk Southern Corp.
139,194
42,448,602
Old Dominion Freight Line, Inc.
84,723
19,075,383
Ryder System, Inc.
66,203
16,607,023
Uber Technologies, Inc. *
121,228
8,534,451
U-Haul Holding Co., Non Voting
Shares
99,125
5,156,483
Union Pacific Corp.
334,480
87,847,827
United Parcel Service, Inc., Class B
849,150
90,595,814
 
574,988,467
 
Utilities 3.0%
AES Corp.
1,019,190
14,951,517
Alliant Energy Corp.
129,039
9,240,483
Ameren Corp.
136,027
14,686,835
American Electric Power Co., Inc.
296,965
37,616,557
American Water Works Co., Inc.
73,989
9,120,624
Atmos Energy Corp.
50,749
8,583,178
CenterPoint Energy, Inc.
351,144
14,839,345
CMS Energy Corp.
166,381
12,074,269
Consolidated Edison, Inc.
244,059
25,779,952
Constellation Energy Corp.
62,105
17,870,714
Dominion Energy, Inc.
639,452
42,804,917
DTE Energy Co.
113,773
16,254,749
Duke Energy Corp.
515,456
63,261,915
Edison International
434,930
30,419,004
Entergy Corp.
233,740
25,489,347
Essential Utilities, Inc.
126,212
4,655,961
Evergy, Inc.
178,269
14,625,189
Eversource Energy
264,404
18,050,861
Exelon Corp.
760,641
34,715,655
FirstEnergy Corp.
392,923
18,227,698
National Fuel Gas Co.
54,744
4,228,974
NextEra Energy, Inc.
708,594
61,654,764
NiSource, Inc.
232,323
10,737,969
NRG Energy, Inc.
80,962
10,855,385
OGE Energy Corp.
140,260
6,624,480
PG&E Corp.
1,551,793
25,356,298
Pinnacle West Capital Corp.
89,516
8,928,326
Portland General Electric Co.
93,201
4,671,234
PPL Corp.
484,605
17,150,171
Public Service Enterprise Group, Inc.
254,953
20,052,053
Sempra
330,961
29,498,554
Southern Co.
573,534
52,793,805
Southwest Gas Holdings, Inc.
15,497
1,335,996
SECURITY
NUMBER
OF SHARES
VALUE ($)
UGI Corp.
268,646
9,381,118
Vistra Corp.
110,112
17,643,246
WEC Energy Group, Inc.
154,404
17,146,564
Xcel Energy, Inc.
323,732
25,736,694
 
757,064,401
Total Common Stocks
(Cost $17,927,758,893)
25,453,372,541
 
 
 
SHORT-TERM INVESTMENTS 0.2% OF NET ASSETS
 
Money Market Funds 0.2%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)
17,064,972
17,064,972
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)(d)
19,768,880
19,768,880
 
36,833,852
Total Short-Term Investments
(Cost $36,833,852)
36,833,852
Total Investments in Securities
(Cost $17,964,592,745)
25,490,206,393
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
S&P 500 Index, e-mini, expires
06/18/26
116
44,055,350
783,439
*
Non-income producing security.
(a)
Issuer is affiliated with the fund’s investment adviser.
(b)
All or a portion of this security is on loan.
(c)
The rate shown is the annualized 7-day yield.
(d)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $18,930,704.
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers and companies which are or were affiliates during the period ended May 31, 2026. An affiliated company is a company in which the investment adviser has or had an ownership of at least 5% of the voting securities of a security issue during the report period. A dash in the Value at February 28, 2026, and/or Value and Balance of Shares Held at May 31, 2026, columns means either the issuer was not held or not held as an affiliate on the stated date.
SECURITY
VALUE AT
2/28/26
PURCHASES
SALES
NET REALIZED
GAINS (LOSSES)
NET CHANGE
IN UNREALIZED
APPRECIATION
(DEPRECIATION)
VALUE AT
5/31/26
BALANCE
OF SHARES
HELD AT
5/31/26
DIVIDENDS
RECEIVED
COMMON STOCKS 0.1% OF NET ASSETS
 
Consumer Discretionary Distribution & Retail 0.0%
QVC Group, Inc.
$1,976,058
$
($809,544
)
($6,420,149
)
$5,253,635
$
$
 
22
  

Schwab Fundamental U.S. Large Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
VALUE AT
2/28/26
PURCHASES
SALES
NET REALIZED
GAINS (LOSSES)
NET CHANGE
IN UNREALIZED
APPRECIATION
(DEPRECIATION)
VALUE AT
5/31/26
BALANCE
OF SHARES
HELD AT
5/31/26
DIVIDENDS
RECEIVED
Financial Services 0.1%
Charles Schwab Corp. (a)
$32,648,364
$1,751,153
($1,896,258
)
$920,424
($3,654,366
)
$29,769,317
340,805
$114,344
Total
$34,624,422
$1,751,153
($2,705,802
)
($5,499,725
)
$1,599,269
$29,769,317
$114,344
(a)
Issuer is affiliated with the fund’s investment adviser.

The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks 1
$25,453,372,541
$
$
$25,453,372,541
Short-Term Investments 1
36,833,852
36,833,852
Futures Contracts 2
783,439
783,439
Total
$25,490,989,832
$—
$—
$25,490,989,832
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
  
23

Schwab Strategic Trust
Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.8% OF NET ASSETS
 
Automobiles & Components 1.3%
Dauch Corp. *
2,551,626
16,942,797
Dorman Products, Inc. *
55,478
6,874,834
Fox Factory Holding Corp. *
332,510
5,998,480
Gentherm, Inc. *
165,123
5,728,117
LCI Industries
161,654
17,623,519
Patrick Industries, Inc.
140,120
12,683,662
Phinia, Inc.
227,777
17,598,051
Rivian Automotive, Inc., Class A *
277,513
4,523,462
Standard Motor Products, Inc.
129,762
5,085,373
Visteon Corp.
118,731
14,044,690
Winnebago Industries, Inc.
424,965
12,617,211
 
119,720,196
 
Banks 7.4%
Ameris Bancorp
130,500
11,002,455
Associated Banc-Corp.
428,979
11,929,906
Atlantic Union Bankshares Corp.
302,420
11,377,040
Axos Financial, Inc. *
81,921
7,119,754
BancFirst Corp.
11,046
1,218,263
Bancorp, Inc. *
64,702
3,568,962
Bank of Hawaii Corp.
108,074
8,278,468
Bank OZK
367,773
17,796,535
BankUnited, Inc.
364,076
16,889,486
Banner Corp.
92,029
5,981,885
Beacon Financial Corp.
214,969
6,253,448
BOK Financial Corp.
62,698
8,027,852
Capitol Federal Financial, Inc.
454,755
3,533,446
Cathay General Bancorp
198,293
11,433,574
City Holding Co.
29,270
3,638,554
Columbia Banking System, Inc.
618,428
18,330,206
Commerce Bancshares, Inc.
237,714
12,413,425
Community Financial System, Inc.
105,976
6,744,313
Cullen/Frost Bankers, Inc.
111,374
15,093,404
Customers Bancorp, Inc. *
88,945
6,683,327
CVB Financial Corp.
393,158
8,004,697
Dime Community Bancshares, Inc.
115,922
4,337,801
Eagle Bancorp, Inc.
252,536
6,891,707
Eastern Bankshares, Inc.
185,742
3,664,690
Enterprise Financial Services Corp.
74,357
4,506,778
FB Financial Corp.
63,643
3,353,350
First BanCorp
138,405
3,318,952
First Bancorp/Southern Pines NC
68,517
4,030,855
First Busey Corp.
174,317
4,771,056
First Commonwealth Financial Corp.
263,290
4,986,713
First Financial Bancorp
290,438
8,933,873
First Financial Bankshares, Inc.
163,463
5,341,971
First Hawaiian, Inc.
435,727
11,755,914
First Interstate BancSystem, Inc.,
Class A
314,869
11,209,336
First Merchants Corp.
147,279
5,935,344
Flagstar Bank NA
376,859
5,298,638
FNB Corp.
966,120
16,887,778
Fulton Financial Corp.
475,544
10,314,549
Glacier Bancorp, Inc.
213,574
10,155,444
Hancock Whitney Corp.
204,330
13,918,960
Hilltop Holdings, Inc.
225,682
8,512,725
SECURITY
NUMBER
OF SHARES
VALUE ($)
Home BancShares, Inc.
413,847
11,074,546
Hope Bancorp, Inc.
548,831
6,882,341
Independent Bank Corp.
100,755
7,967,705
International Bancshares Corp.
106,481
7,683,669
Lakeland Financial Corp.
49,896
3,025,194
Mechanics Bancorp, Class A
173,941
2,560,411
National Bank Holdings Corp., Class A
84,096
3,517,736
NBT Bancorp, Inc.
98,670
4,562,501
Northwest Bancshares, Inc.
431,402
6,104,338
OceanFirst Financial Corp.
221,134
4,155,108
OFG Bancorp
34,974
1,593,415
Old National Bancorp
613,494
14,729,991
Park National Corp.
25,732
4,414,582
Pathward Financial, Inc.
40,149
3,301,854
Pinnacle Financial Partners, Inc.
127,327
12,444,941
Preferred Bank
35,212
3,374,014
Prosperity Bancshares, Inc.
240,243
16,567,157
Provident Financial Services, Inc.
286,862
6,365,468
Renasant Corp.
158,733
6,463,608
S&T Bancorp, Inc.
97,424
4,392,848
Seacoast Banking Corp. of Florida
133,976
4,060,813
ServisFirst Bancshares, Inc.
63,992
4,990,736
Simmons First National Corp., Class A
515,137
11,049,689
Southside Bancshares, Inc.
95,792
3,138,146
Southstate Bank Corp.
184,256
17,458,256
Texas Capital Bancshares, Inc. *
84,140
8,371,089
Towne Bank
160,162
5,456,719
TriCo Bancshares
64,937
3,298,800
Triumph Financial, Inc. *
55,863
3,980,239
Trustmark Corp.
141,446
6,246,255
UMB Financial Corp.
94,944
12,462,349
United Bankshares, Inc.
334,651
14,527,200
United Community Banks, Inc.
263,500
8,682,325
Valley National Bancorp
1,444,402
19,889,416
WaFd, Inc.
256,034
9,104,569
WesBanco, Inc.
219,346
7,600,339
Westamerica BanCorp
58,708
3,257,707
Western Alliance Bancorp
230,938
18,394,212
Wintrust Financial Corp.
117,831
17,701,751
WSFS Financial Corp.
141,880
10,137,326
 
664,434,797
 
Capital Goods 12.6%
AAON, Inc.
57,795
8,102,859
AAR Corp. *
99,110
11,161,768
Advanced Drainage Systems, Inc.
100,554
13,993,095
Aebi Schmidt Holding AG
40,212
501,846
AeroVironment, Inc. *
14,666
3,039,382
Alamo Group, Inc.
35,980
5,422,546
Albany International Corp., Class A
133,736
8,651,382
API Group Corp. *
373,863
15,328,383
Apogee Enterprises, Inc.
170,494
6,548,675
Applied Industrial Technologies, Inc.
75,190
22,843,474
Arcosa, Inc.
119,294
15,120,515
Armstrong World Industries, Inc.
56,787
8,966,667
Astec Industries, Inc.
113,920
5,737,011
ATI, Inc. *
147,962
25,917,024
Atmus Filtration Technologies, Inc.
112,761
5,274,960
Axon Enterprise, Inc. *
6,856
3,076,424
AZZ, Inc.
55,576
7,531,104
24
  

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
BlueLinx Holdings, Inc. *
152,268
7,916,413
Boeing Co. *
11,625
2,687,119
BWX Technologies, Inc.
83,239
16,304,855
Carpenter Technology Corp.
34,705
16,275,951
Centuri Holdings, Inc. *
54,487
1,674,930
Chart Industries, Inc. *
43,568
9,054,302
Columbus McKinnon Corp.
247,440
3,949,142
Comfort Systems USA, Inc.
19,976
36,520,323
Construction Partners, Inc., Class A *
32,742
3,813,461
Core & Main, Inc., Class A *
360,965
17,849,719
Crane Co.
65,157
11,923,731
CSW Industrials, Inc.
17,011
4,711,537
Curtiss-Wright Corp.
37,883
28,321,710
DNOW, Inc. *
921,322
11,783,708
Douglas Dynamics, Inc.
92,894
4,138,428
Ducommun, Inc. *
37,041
5,638,381
DXP Enterprises, Inc. *
37,887
5,495,888
Dycom Industries, Inc. *
53,474
27,271,740
Enerpac Tool Group Corp.
83,266
2,788,578
EnerSys
147,177
33,551,941
Enpro, Inc.
32,544
9,990,683
Esab Corp.
95,820
8,856,643
ESCO Technologies, Inc.
27,322
7,975,292
Everus Construction Group, Inc. *
117,131
17,425,579
Federal Signal Corp.
82,568
8,810,006
Flowserve Corp.
295,379
22,304,068
Franklin Electric Co., Inc.
110,131
10,834,688
FTAI Aviation Ltd.
50,293
13,093,280
GATX Corp.
81,052
13,704,272
Gibraltar Industries, Inc. *
126,189
4,877,205
GrafTech International Ltd. *
638,687
6,374,096
Granite Construction, Inc.
106,950
14,635,038
Greenbrier Cos., Inc.
201,745
9,504,207
Griffon Corp.
105,382
9,271,508
Hayward Holdings, Inc. *
420,499
5,933,241
HEICO Corp.
44,895
15,631,541
Helios Technologies, Inc.
103,792
8,624,077
Herc Holdings, Inc.
115,638
15,379,854
Hexcel Corp.
185,502
16,656,225
Hillman Solutions Corp. *
697,201
5,201,119
Hyster-Yale, Inc.
10,337
375,440
IES Holdings, Inc. *
2,324
1,576,485
Insteel Industries, Inc.
106,985
2,941,018
Janus International Group, Inc. *
503,960
2,691,146
JBT Marel Corp.
61,837
8,310,274
JELD-WEN Holding, Inc. *
2,501,584
5,403,421
Kadant, Inc.
19,149
6,111,978
Kennametal, Inc.
521,534
17,106,315
Kratos Defense & Security Solutions,
Inc. *
67,826
4,349,681
Lennox International, Inc.
24,247
12,175,874
Lindsay Corp.
30,072
3,286,569
Manitowoc Co., Inc. *
409,808
4,848,029
Masterbrand, Inc. *
1,685,171
14,627,284
McGrath RentCorp
54,878
5,981,153
Mercury Systems, Inc. *
77,233
8,626,926
Miller Industries, Inc.
73,247
3,509,264
Modine Manufacturing Co. *
62,051
17,306,644
Moog, Inc., Class A
61,596
22,172,712
Mueller Water Products, Inc., Class A
280,220
7,064,346
MYR Group, Inc. *
44,675
20,776,556
Nextpower, Inc., Class A *
67,975
10,631,290
NPK International, Inc. *
282,639
4,103,918
Primoris Services Corp.
112,519
14,152,640
Proto Labs, Inc. *
86,419
6,547,103
Quanex Building Products Corp.
338,639
6,302,072
RBC Bearings, Inc. *
18,196
10,407,384
Simpson Manufacturing Co., Inc.
81,315
15,428,708
SiteOne Landscape Supply, Inc. *
118,068
12,822,185
SECURITY
NUMBER
OF SHARES
VALUE ($)
SPX Technologies, Inc. *
35,660
7,726,096
StandardAero, Inc. *
79,011
2,262,875
Standex International Corp.
24,240
6,714,722
Sterling Infrastructure, Inc. *
20,146
17,342,483
Tennant Co.
65,254
5,619,022
Terex Corp.
473,634
27,556,026
Titan International, Inc. *
456,774
3,297,908
Titan Machinery, Inc. *
233,703
5,099,399
Trex Co., Inc. *
259,083
10,726,036
Trinity Industries, Inc.
395,362
12,825,543
Tutor Perini Corp.
155,622
11,125,417
V2X, Inc. *
81,941
6,811,755
Valmont Industries, Inc.
47,409
24,643,672
Vertiv Holdings Co., Class A
77,558
24,485,836
VSE Corp.
20,323
3,762,803
Wabash National Corp.
769,845
6,104,871
Watts Water Technologies, Inc., Class A
41,873
12,937,920
Woodward, Inc.
68,605
24,013,808
Worthington Enterprises, Inc.
93,318
5,297,663
Zurn Elkay Water Solutions Corp.
173,936
8,174,992
 
1,120,136,856
 
Commercial & Professional Services 4.4%
ACCO Brands Corp.
1,523,571
6,033,341
Alight, Inc., Class A
3,812,895
3,592,891
Amentum Holdings, Inc. *
316,271
7,346,975
Barrett Business Services, Inc.
70,611
2,297,682
Brady Corp., Class A
108,424
9,333,138
BrightView Holdings, Inc. *
369,578
4,567,984
Brink's Co.
118,347
12,310,455
Casella Waste Systems, Inc., Class A *
55,010
4,520,172
CBIZ, Inc. *
151,391
5,026,181
Cimpress PLC *
15,856
1,562,767
Civeo Corp. *
110,296
3,766,608
Clarivate PLC *
2,232,939
5,649,336
Clean Harbors, Inc. *
59,391
16,690,653
Conduent, Inc. *
3,777,160
6,534,487
CoreCivic, Inc. *
554,129
11,681,039
Deluxe Corp.
424,015
10,299,324
Ennis, Inc.
162,927
3,333,486
Enviri Corp. *
492,078
10,210,619
ExlService Holdings, Inc. *
273,142
7,929,312
Exponent, Inc.
77,661
4,529,190
FTI Consulting, Inc. *
105,220
16,117,600
GEO Group, Inc. *
662,590
15,020,915
Healthcare Services Group, Inc. *
467,174
9,623,784
HNI Corp.
342,039
10,668,196
Huron Consulting Group, Inc. *
33,303
3,576,409
ICF International, Inc.
71,968
4,954,277
Insperity, Inc.
222,586
7,672,539
Interface, Inc.
188,056
5,566,458
Kelly Services, Inc., Class A
1,005,570
11,684,723
Kforce, Inc.
182,984
8,598,418
Korn Ferry
203,311
14,227,704
Millerknoll, Inc.
615,399
9,957,156
MSA Safety, Inc.
57,836
9,589,209
OPENLANE, Inc. *
348,368
13,272,821
Parsons Corp. *
130,323
7,702,089
Paycom Software, Inc.
57,847
8,079,491
Paylocity Holding Corp. *
10,968
1,260,552
Pitney Bowes, Inc.
472,924
7,614,076
Resources Connection, Inc.
659,003
2,978,694
Rollins, Inc.
245,266
11,674,662
Tetra Tech, Inc.
435,727
11,978,135
TIC Solutions, Inc. *
164,499
1,343,957
TriNet Group, Inc.
175,815
8,031,229
TrueBlue, Inc. *(a)
1,033,846
6,420,184
TTEC Holdings, Inc. *
968,777
2,635,074
  
25

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
UL Solutions, Inc., Class A
57,546
5,725,827
UniFirst Corp.
63,744
16,918,933
Verra Mobility Corp. *
208,101
938,536
Vestis Corp. *
1,682,033
21,731,866
 
392,779,154
 
Consumer Discretionary Distribution & Retail 3.9%
1-800-Flowers.com, Inc., Class A *(b)
574,738
2,626,553
Abercrombie & Fitch Co., Class A *
190,801
14,733,653
America's Car-Mart, Inc. *
95,422
1,172,736
Arko Corp.
546,526
4,241,042
Boot Barn Holdings, Inc. *
48,408
8,223,067
Buckle, Inc.
152,089
6,976,322
Caleres, Inc.
548,444
7,985,345
Camping World Holdings, Inc., Class A
330,265
2,420,842
Carvana Co. *
19,610
1,431,530
Chewy, Inc., Class A *
90,309
2,035,565
Coupang, Inc. *
477,141
7,920,541
Designer Brands, Inc., Class A
1,221,143
9,427,224
Dillard's, Inc., Class A
15,749
9,295,217
Etsy, Inc. *
289,541
19,665,625
Five Below, Inc. *
105,404
23,964,653
Floor & Decor Holdings, Inc., Class A *
215,148
11,058,607
GameStop Corp., Class A *
740,810
15,690,356
Genesco, Inc. *
218,506
8,384,075
Gold.com, Inc.
523,972
22,169,255
Haverty Furniture Cos., Inc.
149,070
3,456,933
MarineMax, Inc. *
266,492
9,177,985
Monro, Inc. (b)
384,829
6,330,437
National Vision Holdings, Inc. *
356,392
5,969,566
Ollie's Bargain Outlet Holdings, Inc. *
105,180
8,585,843
OneWater Marine, Inc., Class A *
169,198
1,862,870
Petco Health & Wellness Co., Inc. *
1,239,527
3,730,976
RH *
91,633
13,606,584
Sally Beauty Holdings, Inc. *
936,201
12,432,749
Shoe Carnival, Inc.
203,151
3,595,773
Sleep Number Corp. *(b)
673,869
801,904
Sonic Automotive, Inc., Class A
123,151
10,174,736
Stitch Fix, Inc., Class A *
827,935
2,947,449
Upbound Group, Inc.
522,279
10,032,980
Urban Outfitters, Inc. *
254,274
18,473,006
Valvoline, Inc. *
515,144
17,386,110
Victoria's Secret & Co. *
536,199
29,490,945
Wayfair, Inc., Class A *
106,246
7,677,336
Zumiez, Inc. *
242,677
5,977,135
 
351,133,525
 
Consumer Durables & Apparel 3.2%
Acushnet Holdings Corp.
78,978
7,011,667
Beazer Homes USA, Inc. *
299,072
7,593,438
Callaway Golf Co. *
905,050
13,937,770
Cavco Industries, Inc. *
21,948
11,775,541
Century Communities, Inc.
255,746
13,508,504
Champion Homes, Inc. *
162,869
11,992,044
Columbia Sportswear Co.
226,663
15,000,557
Dream Finders Homes, Inc., Class A *
48,011
742,250
Ethan Allen Interiors, Inc.
172,186
3,550,475
G-III Apparel Group Ltd.
365,276
11,809,373
GoPro, Inc., Class A *(b)
3,645,352
4,556,690
Green Brick Partners, Inc. *
96,653
6,500,881
Helen of Troy Ltd. *
516,078
14,006,357
Hooker Furnishings Corp.
217,063
2,598,244
Hovnanian Enterprises, Inc., Class A *
39,923
4,405,902
Installed Building Products, Inc.
38,591
8,103,338
Kontoor Brands, Inc.
159,983
11,481,980
La-Z-Boy, Inc.
265,771
9,987,674
Levi Strauss & Co., Class A
331,316
7,686,531
SECURITY
NUMBER
OF SHARES
VALUE ($)
LGI Homes, Inc. *
208,365
9,961,931
Malibu Boats, Inc., Class A *
175,528
4,819,999
MasterCraft Boat Holdings, Inc. *
136,233
3,172,866
Movado Group, Inc.
163,594
6,262,378
Oxford Industries, Inc.
166,670
7,436,815
SharkNinja, Inc. *
95,566
11,648,540
Smith & Wesson Brands, Inc.
591,517
9,002,889
Sonos, Inc. *
474,660
7,490,135
Steven Madden Ltd.
444,429
19,305,996
Sturm Ruger & Co., Inc.
153,641
6,005,827
Under Armour, Inc., Class A *
2,801,355
16,443,954
Wolverine World Wide, Inc.
360,272
6,322,774
YETI Holdings, Inc. *
240,147
11,519,852
 
285,643,172
 
Consumer Services 3.7%
Airbnb, Inc., Class A *
61,673
8,221,628
BJ's Restaurants, Inc. *
93,111
4,380,873
Bloomin' Brands, Inc.
1,270,155
10,720,108
Boyd Gaming Corp.
161,914
13,387,050
Bright Horizons Family Solutions, Inc. *
88,692
5,553,893
Brightstar Lottery PLC
409,192
4,595,226
Brinker International, Inc. *
40,340
5,743,609
Cheesecake Factory, Inc.
95,807
6,327,094
Chegg, Inc. *
2,565,088
3,360,265
Choice Hotels International, Inc. (b)
47,452
5,166,574
Churchill Downs, Inc.
113,017
9,856,213
Covista, Inc. *
98,138
11,560,656
Cracker Barrel Old Country Store, Inc.
298,212
10,085,530
Dave & Buster's Entertainment, Inc. *
329,994
4,412,020
Dine Brands Global, Inc.
178,535
5,602,428
DoorDash, Inc., Class A *
91,776
14,618,999
Frontdoor, Inc. *
126,359
7,843,103
Graham Holdings Co., Class B
11,657
12,791,110
Grand Canyon Education, Inc. *
84,015
12,589,648
H&R Block, Inc.
379,705
14,614,845
Hilton Grand Vacations, Inc. *
286,801
14,919,388
Hyatt Hotels Corp., Class A
44,219
8,019,558
Jack in the Box, Inc. *(b)
376,706
4,689,990
Laureate Education, Inc. *
500,680
16,016,753
Life Time Group Holdings, Inc. *
46,568
1,540,469
Matthews International Corp., Class A
212,132
5,629,983
Papa John's International, Inc. (b)
116,644
3,990,391
Perdoceo Education Corp.
181,068
5,862,982
Planet Fitness, Inc., Class A *
73,007
3,906,605
Red Rock Resorts, Inc., Class A
130,126
7,596,756
Six Flags Entertainment Corp. *
375,602
7,891,398
Strategic Education, Inc.
92,112
7,069,596
Stride, Inc. *
81,823
7,558,809
Travel & Leisure Co.
291,846
19,845,528
United Parks & Resorts, Inc. *
163,332
6,554,513
Wendy's Co.
1,260,177
9,703,363
Wingstop, Inc.
15,717
2,466,940
WW International, Inc. *
31,105
516,965
Wyndham Hotels & Resorts, Inc.
220,082
17,663,781
Wynn Resorts Ltd.
100,067
10,128,782
 
333,003,422
 
Consumer Staples Distribution & Retail 0.8%
Chefs' Warehouse, Inc. *
64,528
4,938,973
Grocery Outlet Holding Corp. *
752,758
6,405,970
Ingles Markets, Inc., Class A
211,891
18,743,878
Maplebear, Inc. *
143,864
5,725,787
PriceSmart, Inc.
109,569
18,625,634
26
  

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Village Super Market, Inc., Class A
82,708
3,842,614
Weis Markets, Inc.
141,609
10,333,209
 
68,616,065
 
Energy 5.7%
Antero Midstream Corp.
573,649
12,023,683
Archrock, Inc.
361,845
12,118,189
Ardmore Shipping Corp.
70,613
1,135,457
Bristow Group, Inc.
94,574
3,938,061
Cactus, Inc., Class A
122,613
7,116,459
Comstock Resources, Inc. *
242,512
3,232,685
Core Laboratories, Inc.
168,800
2,307,496
Core Natural Resources, Inc.
206,579
18,269,847
Crescent Energy Co., Class A
2,201,540
25,449,802
CVR Energy, Inc.
310,443
10,312,916
Delek U.S. Holdings, Inc.
631,273
28,097,961
DHT Holdings, Inc.
151,146
2,466,703
Diversified Energy Co.
79,819
1,161,366
Dorian LPG Ltd.
224,386
9,024,805
DT Midstream, Inc.
121,619
17,024,228
Expro Group Holdings NV *
420,105
6,204,951
Golar LNG Ltd.
33,957
1,689,361
Green Plains, Inc. *
1,040,565
16,305,654
Gulfport Energy Corp. *
67,190
11,327,562
Helix Energy Solutions Group, Inc. *
776,354
7,258,910
International Seaways, Inc.
191,564
14,786,825
Kodiak Gas Services, Inc.
124,625
8,331,181
Kosmos Energy Ltd. *
6,751,348
18,903,774
Liberty Energy, Inc.
979,604
28,663,213
Magnolia Oil & Gas Corp., Class A
654,057
17,895,000
Nabors Industries Ltd. *
245,691
22,758,357
New Fortress Energy, Inc. *
3,440,817
1,929,610
Noble Corp. PLC
362,544
16,851,045
Northern Oil & Gas, Inc.
522,173
11,367,706
Oceaneering International, Inc. *
273,133
10,441,875
Oil States International, Inc. *
586,956
4,989,126
Par Pacific Holdings, Inc. *
475,025
26,677,404
Permian Resources Corp., Class A
684,194
13,157,051
ProPetro Holding Corp. *
1,141,921
17,425,714
REX American Resources Corp. *
112,342
5,253,112
RPC, Inc.
791,464
5,239,492
Scorpio Tankers, Inc.
71,794
5,349,371
Select Water Solutions, Inc.
516,126
9,254,139
Summit Midstream Corp. *
105,088
2,800,595
Talos Energy, Inc. *
888,215
13,030,114
Teekay Corp. Ltd.
59,737
685,183
Texas Pacific Land Corp.
23,941
9,408,813
Tidewater, Inc. *
71,689
5,268,425
VAALCO Energy, Inc.
124,084
647,719
Valaris Ltd. *
108,193
10,021,918
W&T Offshore, Inc.
1,484,599
5,463,324
Weatherford International PLC
240,738
24,950,086
 
508,016,268
 
Equity Real Estate Investment Trusts (REITs) 7.6%
Acadia Realty Trust
195,388
4,302,444
Agree Realty Corp.
91,527
6,786,727
American Assets Trust, Inc.
200,592
4,673,794
American Healthcare REIT, Inc.
126,622
6,190,550
American Homes 4 Rent, Class A
500,832
16,066,691
Americold Realty Trust, Inc.
1,421,104
22,297,122
Apple Hospitality REIT, Inc.
899,378
13,211,863
Brandywine Realty Trust
1,893,880
5,871,028
Brixmor Property Group, Inc.
689,950
21,084,872
Broadstone Net Lease, Inc.
406,206
8,217,547
CareTrust REIT, Inc.
106,177
4,334,145
Centerspace
49,906
3,367,657
SECURITY
NUMBER
OF SHARES
VALUE ($)
COPT Defense Properties
313,097
10,037,890
Cousins Properties, Inc.
530,694
14,227,906
CubeSmart
389,530
15,581,200
DiamondRock Hospitality Co.
604,197
6,640,125
Diversified Healthcare Trust
1,758,205
14,628,266
Douglas Emmett, Inc.
898,204
10,455,095
Easterly Government Properties, Inc.
188,521
4,520,734
EastGroup Properties, Inc.
49,344
9,963,047
Empire State Realty Trust, Inc., Class A
796,454
4,563,681
EPR Properties
187,688
10,707,600
Equity LifeStyle Properties, Inc.
233,302
14,411,064
Essential Properties Realty Trust, Inc.
159,231
4,869,284
Federal Realty Investment Trust
185,937
22,243,643
First Industrial Realty Trust, Inc.
191,051
11,820,325
Four Corners Property Trust, Inc.
146,249
3,641,600
Global Net Lease, Inc.
674,818
6,323,045
Healthcare Realty Trust, Inc.
1,062,295
21,160,916
Highwoods Properties, Inc.
442,398
11,546,588
Hudson Pacific Properties, Inc. *
587,691
7,040,538
Independence Realty Trust, Inc.
383,374
6,222,160
Innovative Industrial Properties, Inc.
83,973
4,869,594
InvenTrust Properties Corp.
150,523
4,986,827
JBG SMITH Properties
457,642
6,713,608
Kilroy Realty Corp.
488,758
16,749,737
Kite Realty Group Trust
403,013
11,050,616
Lineage, Inc.
179,691
7,980,077
LTC Properties, Inc.
94,853
3,548,451
LXP Industrial Trust
187,904
9,703,363
Macerich Co.
679,069
15,292,634
Medical Properties Trust, Inc.
3,435,869
17,557,291
National Health Investors, Inc.
69,702
5,108,460
National Storage Affiliates Trust
149,216
6,364,062
NNN REIT, Inc.
321,246
14,298,659
Omega Healthcare Investors, Inc.
389,915
18,232,425
Outfront Media, Inc.
489,516
15,781,996
Park Hotels & Resorts, Inc.
1,488,401
18,054,304
Pebblebrook Hotel Trust
689,980
10,522,195
Phillips Edison & Co., Inc.
212,767
8,542,595
Piedmont Realty Trust, Inc., Class A *
946,241
7,863,263
Rayonier, Inc.
960,688
20,068,772
Rexford Industrial Realty, Inc.
281,737
9,993,211
RLJ Lodging Trust
1,079,751
10,505,977
Ryman Hospitality Properties, Inc.
87,290
10,049,698
Sabra Health Care REIT, Inc.
554,753
11,034,037
Service Properties Trust
3,776,278
6,759,538
Sila Realty Trust, Inc.
126,975
3,839,724
SITE Centers Corp.
107,122
540,966
SL Green Realty Corp.
312,437
14,184,640
STAG Industrial, Inc.
318,131
12,047,621
Summit Hotel Properties, Inc.
515,341
2,973,518
Sunstone Hotel Investors, Inc.
815,139
8,819,804
Tanger, Inc.
183,415
6,615,779
Terreno Realty Corp.
92,050
6,046,764
Urban Edge Properties
338,924
7,605,455
Vornado Realty Trust
157,188
5,305,095
Xenia Hotels & Resorts, Inc.
396,165
6,881,386
 
673,501,289
 
Financial Services 6.5%
Acadian Asset Management, Inc.
115,413
8,345,514
Adamas Trust, Inc.
569,360
5,238,112
Apollo Commercial Real Estate Finance,
Inc.
648,679
7,109,522
Arbor Realty Trust, Inc. (b)
1,124,205
6,464,179
ARES Management Corp., Class A
67,582
8,684,287
Artisan Partners Asset Management,
Inc., Class A
232,811
8,716,444
BGC Group, Inc., Class A
588,501
6,149,835
  
27

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Blackstone Mortgage Trust, Inc., Class A
692,213
12,653,654
Blue Owl Capital, Inc.
89,805
923,195
BRC Group Holdings, Inc. *(b)
663,227
6,187,908
BrightSpire Capital, Inc.
711,236
4,103,832
Chimera Investment Corp.
627,690
8,549,138
Claros Mortgage Trust, Inc. *
1,459,588
3,546,799
Cohen & Steers, Inc.
61,805
4,313,989
Coinbase Global, Inc., Class A *
52,872
9,994,394
Credit Acceptance Corp. *
24,585
14,102,939
DigitalBridge Group, Inc.
762,319
11,922,669
Donnelley Financial Solutions, Inc. *
109,623
4,350,937
Enact Holdings, Inc.
84,422
3,527,995
Encore Capital Group, Inc. *
165,671
13,242,083
Enova International, Inc. *
86,146
13,913,440
Essent Group Ltd.
222,242
12,865,589
Euronet Worldwide, Inc. *
193,497
14,024,662
EVERTEC, Inc.
47,896
1,172,015
EZCORP, Inc., Class A *
218,941
6,839,717
FactSet Research Systems, Inc. (b)
66,744
16,383,650
Federal Agricultural Mortgage Corp.,
Class C
22,878
4,067,480
Federated Hermes, Inc.
277,802
15,573,580
FirstCash Holdings, Inc.
79,201
17,417,092
Franklin BSP Realty Trust, Inc.
331,818
2,876,862
Green Dot Corp., Class A *
348,589
4,486,340
Hamilton Lane, Inc., Class A
29,095
2,535,047
Houlihan Lokey, Inc.
77,793
11,020,156
Interactive Brokers Group, Inc., Class A
129,829
11,291,228
Janus Henderson Group PLC
429,899
22,230,077
KKR Real Estate Finance Trust, Inc.
409,864
2,733,793
Ladder Capital Corp.
385,197
3,936,713
LendingClub Corp. *
262,371
4,683,322
loanDepot, Inc., Class A *
1,675,699
2,211,923
MarketAxess Holdings, Inc.
56,636
7,364,945
MFA Financial, Inc.
508,593
4,882,493
Moelis & Co., Class A
227,789
15,327,922
Morningstar, Inc.
36,536
6,650,283
Navient Corp.
1,108,770
9,491,071
NCR Atleos Corp. *
373,138
16,641,955
Nelnet, Inc., Class A
34,573
4,514,197
NMI Holdings, Inc., Class A *
146,412
5,256,191
Oppenheimer Holdings, Inc., Class A
44,604
4,088,849
Paysafe Ltd. *
339,212
2,622,109
PennyMac Financial Services, Inc.
152,335
12,776,336
PennyMac Mortgage Investment Trust
500,157
5,231,642
Piper Sandler Cos.
130,702
10,248,344
PJT Partners, Inc., Class A
25,034
3,827,699
PRA Group, Inc. *
276,657
4,221,786
Radian Group, Inc.
471,434
16,099,471
Ready Capital Corp.
1,452,537
2,585,516
Redwood Trust, Inc.
661,419
3,584,891
Regional Management Corp.
80,810
2,970,576
Rocket Cos., Inc., Class A *
1,115,360
16,183,874
Shift4 Payments, Inc., Class A *(b)
54,531
2,429,901
SoFi Technologies, Inc. *
69,041
1,257,927
Stifel Financial Corp.
259,006
18,169,271
Toast, Inc., Class A *
205,224
5,341,981
TPG RE Finance Trust, Inc.
352,030
2,957,052
TPG, Inc.
142,453
6,064,224
Tradeweb Markets, Inc., Class A
67,579
6,774,795
Two Harbors Investment Corp.
256,161
3,158,465
Victory Capital Holdings, Inc., Class A
110,495
9,342,352
Virtu Financial, Inc., Class A
339,925
17,047,239
Virtus Investment Partners, Inc.
28,628
4,094,663
Walker & Dunlop, Inc.
128,364
6,442,589
WEX, Inc. *
108,181
15,681,918
SECURITY
NUMBER
OF SHARES
VALUE ($)
WisdomTree, Inc.
69,488
1,323,746
World Acceptance Corp. *
25,563
4,220,196
 
577,266,580
 
Food, Beverage & Tobacco 1.4%
B&G Foods, Inc.
1,705,738
6,976,468
Boston Beer Co., Inc., Class A *
40,897
7,250,220
Cal-Maine Foods, Inc.
176,882
13,216,623
Coca-Cola Consolidated, Inc.
70,158
12,155,575
Dole PLC
81,142
1,135,177
Fresh Del Monte Produce, Inc.
346,811
11,146,506
Hain Celestial Group, Inc. *(a)
3,071,316
2,434,632
J&J Snack Foods Corp.
61,452
4,677,726
John B Sanfilippo & Son, Inc.
58,619
4,391,149
Marzetti Co.
52,668
5,895,656
MGP Ingredients, Inc.
102,352
1,806,513
Mission Produce, Inc. *
164,764
1,835,471
Nomad Foods Ltd.
894,100
9,066,174
Pilgrim's Pride Corp.
193,161
5,468,388
Primo Brands Corp.
165,194
4,096,811
Seaboard Corp.
3,118
15,845,458
Seneca Foods Corp., Class A *
35,886
5,160,048
Simply Good Foods Co. *
305,981
3,524,901
Smithfield Foods, Inc.
85,856
2,217,661
Universal Corp.
175,761
9,116,723
 
127,417,880
 
Health Care Equipment & Services 4.3%
Acadia Healthcare Co., Inc. *
856,319
19,866,601
Accendra Health, Inc. *
2,129,351
6,047,357
AdaptHealth Corp. *
761,519
7,714,187
Addus HomeCare Corp. *
44,284
4,059,957
agilon health, Inc. *
177,493
16,379,054
Astrana Health, Inc. *
180,699
6,797,896
Avanos Medical, Inc. *
355,466
8,815,557
BrightSpring Health Services, Inc. *
174,263
10,748,542
Brookdale Senior Living, Inc. *
674,474
8,680,480
Chemed Corp.
39,822
16,980,499
Claritev Corp. *(b)
115,389
2,898,572
Clover Health Investments Corp. *
1,399,574
5,570,305
Concentra Group Holdings Parent, Inc.
639,278
15,898,844
CONMED Corp.
127,259
4,543,146
Cross Country Healthcare, Inc. *
489,486
6,407,372
Dexcom, Inc. *
243,214
17,934,600
Embecta Corp.
457,597
1,546,678
Enovis Corp. *
364,222
8,260,555
Ensign Group, Inc.
67,019
11,235,735
Envista Holdings Corp. *
744,924
17,542,960
Evolent Health, Inc., Class A *
721,643
2,850,490
Fulgent Genetics, Inc. *
135,029
2,449,426
Globus Medical, Inc., Class A *
130,279
10,667,245
Haemonetics Corp. *
126,817
8,599,461
HealthEquity, Inc. *
72,682
6,395,289
ICU Medical, Inc. *
63,502
8,597,536
Insulet Corp. *
17,053
2,471,662
Integer Holdings Corp. *
84,707
7,571,112
Integra LifeSciences Holdings Corp. *
668,042
10,715,394
Lantheus Holdings, Inc. *
81,126
8,055,812
LivaNova PLC *
93,463
6,897,569
Masimo Corp. *
70,075
12,504,884
Merit Medical Systems, Inc. *
74,919
4,724,392
National HealthCare Corp.
42,616
7,859,243
Neogen Corp. *
694,799
6,232,347
OmniAb, Inc., Class A *(c)
9,356
0
OmniAb, Inc., Class B *(c)
9,356
0
Omnicell, Inc. *
164,488
7,260,500
Option Care Health, Inc. *
459,998
9,600,158
28
  

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Pediatrix Medical Group, Inc. *
448,999
9,671,438
Penumbra, Inc. *
15,412
4,905,640
Privia Health Group, Inc. *
168,134
3,616,562
Progyny, Inc. *
82,887
2,118,592
RadNet, Inc. *
62,285
3,458,686
Select Medical Holdings Corp.
468,839
7,735,843
Surgery Partners, Inc. *
333,020
4,449,147
Teladoc Health, Inc. *
978,669
7,447,671
Varex Imaging Corp. *
320,914
3,282,950
Veeva Systems, Inc., Class A *
67,476
11,763,766
Waystar Holding Corp. *
114,680
2,283,279
 
382,114,991
 
Household & Personal Products 1.0%
BellRing Brands, Inc. *
134,386
1,123,467
Central Garden & Pet Co. *
41,952
1,614,313
Central Garden & Pet Co., Class A *
266,868
9,108,205
Coty, Inc., Class A *
2,456,359
5,232,045
Edgewell Personal Care Co.
430,776
7,547,196
elf Beauty, Inc. *
45,008
2,520,448
Energizer Holdings, Inc.
440,229
8,020,972
Herbalife Ltd. *
1,058,748
12,662,626
Interparfums, Inc.
38,002
3,586,249
Medifast, Inc. *(a)
377,616
4,731,528
Nu Skin Enterprises, Inc., Class A
1,220,658
7,067,610
Reynolds Consumer Products, Inc.
241,162
5,225,981
Spectrum Brands Holdings, Inc.
218,514
17,194,867
USANA Health Sciences, Inc. *
169,505
3,101,941
WD-40 Co.
18,452
3,689,846
 
92,427,294
 
Insurance 1.5%
AMERISAFE, Inc.
81,951
2,511,798
Assured Guaranty Ltd.
31,105
2,308,302
Axis Capital Holdings Ltd.
52,855
5,017,525
Brighthouse Financial, Inc. *
148,228
9,271,661
CNA Financial Corp.
85,544
3,597,981
Employers Holdings, Inc.
127,593
5,550,296
Erie Indemnity Co., Class A
36,476
7,771,941
F&G Annuities & Life, Inc.
47,132
1,306,499
Hanover Insurance Group, Inc.
97,367
18,129,735
Horace Mann Educators Corp.
103,571
4,736,302
Kemper Corp.
299,476
7,388,073
Kinsale Capital Group, Inc.
11,691
3,563,066
Mercury General Corp.
73,144
7,170,306
Oscar Health, Inc., Class A *
103,995
2,311,809
Pelagos Insurance Capital Ltd.
44,468
959,619
ProAssurance Corp. *
120,552
2,892,043
RLI Corp.
179,348
8,974,574
Ryan Specialty Holdings, Inc.
27,935
889,730
Safety Insurance Group, Inc.
54,831
3,847,491
Selective Insurance Group, Inc.
157,879
13,662,849
SiriusPoint Ltd. *
59,827
1,277,306
Stewart Information Services Corp.
155,706
10,117,776
White Mountains Insurance Group Ltd.
6,240
12,884,477
 
136,141,159
 
Materials 5.5%
AdvanSix, Inc.
316,486
7,101,946
Alto Ingredients, Inc. *
103,844
565,950
Ardagh Metal Packaging SA
668,610
2,694,498
Avient Corp.
419,171
14,847,037
Balchem Corp.
40,792
6,393,330
Cabot Corp.
220,736
19,316,607
Clearwater Paper Corp. *
262,552
4,279,598
Coeur Mining, Inc.
354,019
6,839,647
SECURITY
NUMBER
OF SHARES
VALUE ($)
Compass Minerals International, Inc. *
278,814
8,899,743
Ecovyst, Inc. *
833,398
10,992,520
Element Solutions, Inc.
588,461
24,968,400
Ferroglobe PLC
847,476
3,669,571
Greif, Inc., Class A
196,655
12,454,161
Hawkins, Inc.
32,186
4,981,427
HB Fuller Co.
226,418
14,508,865
Hecla Mining Co.
632,036
11,231,280
Ingevity Corp. *
183,900
12,472,098
Innospec, Inc.
105,322
8,735,407
Kaiser Aluminum Corp.
89,212
16,240,152
Knife River Corp. *
150,930
11,849,514
Koppers Holdings, Inc.
161,086
6,572,309
LSB Industries, Inc. *
337,894
4,237,191
Magnera Corp. *
256,456
2,915,905
Materion Corp.
62,148
13,675,046
Mativ Holdings, Inc.
655,187
5,818,061
Metallus, Inc. *
333,919
6,561,508
Minerals Technologies, Inc.
159,789
12,306,949
MP Materials Corp. *
19,097
1,235,576
Myers Industries, Inc.
208,692
4,758,178
NewMarket Corp.
21,147
16,358,896
Orion SA
691,535
5,283,327
Quaker Chemical Corp.
54,894
7,878,936
Rayonier Advanced Materials, Inc. *
991,965
9,076,480
Royal Gold, Inc.
45,210
10,148,741
Ryerson Holding Corp.
811,977
23,222,542
Scotts Miracle-Gro Co.
177,052
10,446,068
Sensient Technologies Corp.
94,833
10,796,737
Silgan Holdings, Inc.
397,300
14,922,588
Southern Copper Corp.
138,264
26,449,840
Stepan Co.
179,544
9,488,900
SunCoke Energy, Inc.
879,402
7,923,412
Sylvamo Corp.
229,282
9,003,904
Tredegar Corp. *
283,444
2,213,698
TriMas Corp.
156,431
6,402,721
Trinseo PLC (a)
1,658,718
16,587
Tronox Holdings PLC
3,316,821
26,368,727
Warrior Met Coal, Inc.
238,905
22,586,079
Worthington Steel, Inc.
296,566
12,512,119
 
492,222,776
 
Media & Entertainment 3.4%
Advantage Solutions, Inc. *(b)
72,693
2,720,172
AMC Global Media, Inc., Class A *
1,081,527
10,512,442
Angi, Inc. *
99,760
584,594
Cable One, Inc. *
81,906
4,304,160
Cargurus, Inc. *
212,114
6,333,724
Cars.com, Inc. *
361,826
3,719,571
Cinemark Holdings, Inc.
170,384
4,770,752
Clear Channel Outdoor Holdings, Inc. *
2,180,814
5,255,762
EchoStar Corp., Class A *(b)
292,253
37,756,165
EW Scripps Co., Class A *
2,153,223
7,299,426
Gray Media, Inc.
2,412,961
9,675,974
IAC, Inc. *
274,457
12,320,375
iHeartMedia, Inc., Class A *
3,297,797
14,213,505
John Wiley & Sons, Inc., Class A
224,643
9,452,977
Liberty Broadband Corp., Class C *
149,698
5,053,805
Liberty Media Corp.-Liberty Formula
One, Class C *
158,960
14,431,978
Live Nation Entertainment, Inc. *
37,114
6,250,369
Match Group, Inc.
526,291
19,014,894
New York Times Co., Class A
238,096
17,907,200
NIQ Global Intelligence PLC *
84,296
703,029
Pinterest, Inc., Class A *
633,309
12,697,845
Roku, Inc. *
99,224
12,916,980
Scholastic Corp. (b)
248,623
10,069,232
Shutterstock, Inc.
155,698
2,318,343
  
29

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Sinclair, Inc.
928,348
12,839,053
Snap, Inc., Class A *
1,012,761
5,782,865
TKO Group Holdings, Inc.
27,023
5,544,579
Trade Desk, Inc., Class A *
197,226
4,252,193
TripAdvisor, Inc. *
467,422
5,225,778
USA TODAY Co., Inc. *
1,276,206
9,967,169
Warner Music Group Corp., Class A
175,766
5,543,660
Yelp, Inc. *
362,989
8,276,149
Ziff Davis, Inc. *
339,776
15,313,704
ZoomInfo Technologies, Inc. *
748,816
2,493,557
 
305,521,981
 
Pharmaceuticals, Biotechnology & Life Sciences 2.7%
Alkermes PLC *
81,241
3,427,558
Amneal Pharmaceuticals, Inc. *
329,065
4,333,786
Azenta, Inc. *
126,252
2,888,646
BioMarin Pharmaceutical, Inc. *
245,186
14,046,706
Bio-Rad Laboratories, Inc., Class A *
59,175
18,491,004
Bio-Techne Corp.
190,763
9,858,632
Bruker Corp.
307,906
18,132,584
Collegium Pharmaceutical, Inc. *
84,924
2,854,296
Corcept Therapeutics, Inc. *
91,776
6,377,514
Emergent BioSolutions, Inc. *
757,640
6,909,677
Exelixis, Inc. *
354,506
17,895,463
Fortrea Holdings, Inc. *
1,550,761
23,866,212
Halozyme Therapeutics, Inc. *
111,437
7,415,018
Incyte Corp. *
168,403
16,291,306
Innoviva, Inc. *
239,123
5,122,015
Ironwood Pharmaceuticals, Inc. *
2,465,723
8,802,631
Medpace Holdings, Inc. *
13,374
5,979,649
Myriad Genetics, Inc. *
492,881
1,956,738
Neurocrine Biosciences, Inc. *
89,904
14,231,803
Pacira BioSciences, Inc. *
161,376
3,747,151
Prestige Consumer Healthcare, Inc. *
130,638
6,209,224
Repligen Corp. *
36,069
4,470,752
Royalty Pharma PLC, Class A
453,414
25,282,365
Sotera Health Co. *
271,421
4,245,024
Supernus Pharmaceuticals, Inc. *
101,664
4,694,843
 
237,530,597
 
Real Estate Management & Development 1.1%
Compass, Inc., Class A *
4,440,537
36,545,620
CoStar Group, Inc. *
269,136
8,666,179
eXp World Holdings, Inc.
864,360
4,252,651
Kennedy-Wilson Holdings, Inc.
572,812
6,306,660
Marcus & Millichap, Inc.
126,293
3,566,514
Newmark Group, Inc., Class A
390,564
5,456,179
Opendoor Technologies, Inc. *
4,480,676
22,582,607
Zillow Group, Inc., Class C *
257,313
9,005,955
 
96,382,365
 
Semiconductors & Semiconductor Equipment 5.4%
Allegro MicroSystems, Inc. *
151,853
7,269,203
Alpha & Omega Semiconductor Ltd. *
134,056
6,079,440
Amkor Technology, Inc.
627,806
43,670,185
Axcelis Technologies, Inc. *
82,071
12,344,299
Cirrus Logic, Inc. *
139,384
23,688,311
Cohu, Inc. *
229,548
12,108,657
Diodes, Inc. *
234,012
24,646,144
Enphase Energy, Inc. *
323,333
22,103,044
Entegris, Inc.
198,202
27,508,455
FormFactor, Inc. *
135,127
16,835,473
GLOBALFOUNDRIES, Inc. *
258,663
20,685,280
Ichor Holdings Ltd. *
218,806
15,649,005
Lattice Semiconductor Corp. *
91,373
13,439,141
SECURITY
NUMBER
OF SHARES
VALUE ($)
MACOM Technology Solutions Holdings,
Inc. *
24,353
8,880,078
MaxLinear, Inc. *
270,860
25,171,020
MKS, Inc.
141,703
45,948,615
Monolithic Power Systems, Inc.
12,566
19,680,995
Onto Innovation, Inc. *
57,012
14,722,779
Penguin Solutions, Inc. *
195,310
10,904,157
Photronics, Inc. *
273,326
8,842,096
Power Integrations, Inc.
177,959
14,948,556
Rambus, Inc. *
66,470
9,668,726
Semtech Corp. *
45,691
6,969,705
Silicon Laboratories, Inc. *
87,930
19,133,568
Synaptics, Inc. *
118,031
16,203,296
Ultra Clean Holdings, Inc. *
271,850
23,262,204
Universal Display Corp.
55,856
5,145,455
Veeco Instruments, Inc. *
33,089
1,907,250
 
477,415,137
 
Software & Services 3.5%
ACI Worldwide, Inc. *
216,439
9,451,891
Alarm.com Holdings, Inc. *
76,953
3,471,350
AppLovin Corp., Class A *
28,117
17,238,252
Blackbaud, Inc. *
92,185
2,829,158
BlackLine, Inc. *
47,182
1,387,151
Box, Inc., Class A *
61,323
1,653,268
CCC Intelligent Solutions Holdings, Inc. *
775,795
3,646,236
Commvault Systems, Inc. *
57,088
6,779,200
Consensus Cloud Solutions, Inc. *
108,968
3,743,051
CoreWeave, Inc., Class A *
10,068
1,102,748
Crowdstrike Holdings, Inc., Class A *
11,815
8,636,765
Datadog, Inc., Class A *
27,631
6,834,528
DigitalOcean Holdings, Inc. *
85,607
13,350,412
Docusign, Inc. *
93,569
4,914,244
Dolby Laboratories, Inc., Class A
179,398
10,012,202
Dropbox, Inc., Class A *
562,499
15,119,973
Dynatrace, Inc. *
135,219
5,758,977
Fair Isaac Corp. *
10,919
13,655,192
Globant SA *
151,393
6,110,221
Guidewire Software, Inc. *
38,570
5,888,482
HubSpot, Inc. *
11,905
2,626,600
InterDigital, Inc.
22,863
5,763,534
LiveRamp Holdings, Inc. *
212,297
7,973,875
Manhattan Associates, Inc. *
46,890
7,035,844
MongoDB, Inc. *
3,953
1,326,429
NCR Voyix Corp. *
821,325
5,905,327
Okta, Inc. *
71,341
8,794,205
Palantir Technologies, Inc., Class A *
49,041
7,676,878
Progress Software Corp. *
120,988
3,972,036
PTC, Inc. *
71,563
9,927,935
Qualys, Inc. *
54,011
5,902,862
Snowflake, Inc., Class A *
26,646
6,809,385
SPS Commerce, Inc. *
41,892
2,377,371
Teradata Corp. *
447,021
15,221,065
Thryv Holdings, Inc. *
552,787
2,144,814
Twilio, Inc., Class A *
128,468
24,491,139
Tyler Technologies, Inc. *
25,754
8,064,865
Unisys Corp. *
816,608
3,748,231
Unity Software, Inc. *
387,197
11,797,893
VeriSign, Inc.
69,787
19,915,814
Workday, Inc., Class A *
45,961
6,719,039
 
309,778,442
 
Technology Hardware & Equipment 6.3%
Advanced Energy Industries, Inc.
51,976
15,706,108
Badger Meter, Inc.
27,247
3,375,903
Belden, Inc.
93,971
9,874,473
Benchmark Electronics, Inc.
208,357
17,597,832
30
  

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Calix, Inc. *
85,885
3,413,929
Cognex Corp.
319,393
21,032,029
Coherent Corp. *
132,844
48,019,121
Crane NXT Co.
110,012
4,272,866
CTS Corp.
92,424
5,934,545
Diebold Nixdorf, Inc. *
26,251
2,130,006
ePlus, Inc.
98,507
8,086,440
Everpure, Inc., Class A *
110,992
8,824,974
Ingram Micro Holding Corp.
266,285
7,522,551
IPG Photonics Corp. *
116,386
13,328,525
Itron, Inc. *
93,713
7,729,448
Kimball Electronics, Inc. *
177,033
4,590,466
Knowles Corp. *
294,277
11,008,902
Littelfuse, Inc.
61,763
28,835,292
Lumentum Holdings, Inc. *
95,609
81,741,871
Methode Electronics, Inc.
674,594
7,784,815
Mirion Technologies, Inc. *
50,748
927,673
NETGEAR, Inc. *
183,345
4,765,136
NetScout Systems, Inc. *
284,601
11,845,094
Novanta, Inc. *
38,139
6,076,687
OSI Systems, Inc. *
27,168
5,888,664
PC Connection, Inc.
80,635
5,611,390
Plexus Corp. *
90,083
24,174,674
Ralliant Corp.
126,434
7,822,472
Rogers Corp. *
78,984
11,177,816
ScanSource, Inc. *
194,668
9,007,288
Super Micro Computer, Inc. *
313,291
14,439,582
TTM Technologies, Inc. *
222,316
38,620,735
Viasat, Inc. *
625,497
50,427,568
Viavi Solutions, Inc. *
561,930
27,287,321
Vistance Networks, Inc. *
1,379,557
17,216,871
Vontier Corp.
412,343
11,702,294
 
557,801,361
 
Telecommunication Services 0.7%
Array Digital Infrastructure, Inc.
70,204
3,570,575
Cogent Communications Holdings, Inc.
227,640
4,042,886
IDT Corp., Class B
58,578
3,231,163
IHS Holding Ltd. *
753,804
6,256,573
Iridium Communications, Inc.
410,629
21,262,370
Liberty Capital Corp., Class C *
58,146
1,300,726
Shenandoah Telecommunications Co.
249,597
3,981,072
Uniti Group, Inc.
1,399,934
15,707,260
 
59,352,625
 
Transportation 3.2%
Allegiant Travel Co. *
137,332
12,580,984
American Airlines Group, Inc. *
1,198,462
17,545,484
ArcBest Corp.
211,867
28,960,100
Costamare, Inc.
52,849
812,818
Covenant Logistics Group, Inc., Class A
118,220
4,693,334
Forward Air Corp. *
208,054
2,201,211
Genco Shipping & Trading Ltd.
276,646
6,656,103
Global Ship Lease, Inc., Class A
156,983
5,718,891
Heartland Express, Inc.
361,657
5,421,238
JetBlue Airways Corp. *
2,090,444
11,434,729
Kirby Corp. *
146,623
20,613,728
Marten Transport Ltd.
473,429
8,161,916
RXO, Inc. *
776,030
19,850,847
Saia, Inc. *
61,119
28,870,782
Schneider National, Inc., Class B
339,048
11,981,956
SkyWest, Inc. *
127,432
10,914,551
Southwest Airlines Co.
379,288
16,290,420
United Airlines Holdings, Inc. *
172,763
19,833,192
SECURITY
NUMBER
OF SHARES
VALUE ($)
Werner Enterprises, Inc.
628,537
26,090,571
XPO, Inc. *
124,491
26,672,197
 
285,305,052
 
Utilities 2.7%
American States Water Co.
68,053
5,258,455
Avista Corp.
292,106
12,113,636
Black Hills Corp.
272,002
19,807,186
California Water Service Group
126,100
5,687,110
Chesapeake Utilities Corp.
39,070
4,818,113
Clearway Energy, Inc., Class C
250,827
10,324,039
H2O America (b)
94,107
5,442,208
Hawaiian Electric Industries, Inc. *
1,200,341
15,964,535
IDACORP, Inc.
111,494
15,639,263
MDU Resources Group, Inc.
579,038
12,206,121
MGE Energy, Inc.
60,845
4,593,798
New Jersey Resources Corp.
255,837
14,134,994
Northwest Natural Holding Co.
139,854
6,781,521
Northwestern Energy Group, Inc.
213,805
15,096,771
ONE Gas, Inc.
183,730
14,283,170
Ormat Technologies, Inc.
82,205
11,280,992
Otter Tail Corp.
105,048
9,103,460
Southwest Gas Holdings, Inc.
167,039
14,400,432
Spire, Inc.
173,923
14,306,906
Talen Energy Corp. *
36,720
14,203,296
TXNM Energy, Inc.
265,613
15,726,946
Unitil Corp.
57,380
2,870,721
 
244,043,673
Total Common Stocks
(Cost $7,240,554,015)
8,897,706,657
 
 
 
SHORT-TERM INVESTMENTS 1.1% OF NET ASSETS
 
Money Market Funds 1.1%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)
9,006,113
9,006,113
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)(e)
88,415,402
88,415,402
 
97,421,515
Total Short-Term Investments
(Cost $97,421,515)
97,421,515
Total Investments in Securities
(Cost $7,337,975,530)
8,995,128,172
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
Russell 2000 Index, e-mini,
expires 06/18/26
138
20,177,670
302,253
  
31

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
*
Non-income producing security.
(a)
Issuer is an affiliated company, as the investment adviser owns at least 5% of
the voting securities of such company.
(b)
All or a portion of this security is on loan.
(c)
Fair valued using significant unobservable inputs.
(d)
The rate shown is the annualized 7-day yield.
(e)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $85,248,746.
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers and companies which are or were affiliates during the period ended May 31, 2026. An affiliated company is a company in which the investment adviser has or had an ownership of at least 5% of the voting securities of a security issue during the report period. A dash in the Value at February 28, 2026, and/or Value and Balance of Shares Held at May 31, 2026, columns means either the issuer was not held or not held as an affiliate on the stated date.
SECURITY
VALUE AT
2/28/26
PURCHASES
SALES
NET REALIZED
GAINS (LOSSES)
NET CHANGE
IN UNREALIZED
APPRECIATION
(DEPRECIATION)
VALUE AT
5/31/26
BALANCE
OF SHARES
HELD AT
5/31/26
DIVIDENDS
RECEIVED
COMMON STOCKS 0.2% OF NET ASSETS
 
Capital Goods 0.0%
JELD-WEN Holding, Inc. *
$6,188,900
$211,294
($1,146,619
)
($5,891,993
)
$6,041,839
$
$
 
Commercial & Professional Services 0.1%
TrueBlue, Inc. (a),*
6,182,471
245,332
(2,047,691
)
(1,602,598
)
3,642,670
6,420,184
1,033,846
 
Consumer Durables & Apparel 0.0%
Oxford Industries, Inc.
6,864,668
736,142
(1,154,725
)
191,352
799,378
135,103
 
Equity Real Estate Investment Trusts (REITs) 0.0%
Service Properties Trust
12,055,917
379,492
(2,875,814
)
(4,627,070
)
1,827,013
43,544
 
Food, Beverage & Tobacco 0.0%
Hain Celestial Group, Inc. (a),*
3,414,752
81,743
(872,607
)
(3,909,925
)
3,720,669
2,434,632
3,071,316
 
Health Care Equipment & Services 0.0%
Accendra Health, Inc. *
6,923,027
250,041
(2,056,738
)
(10,707,302
)
11,638,329
 
Household & Personal Products 0.1%
Medifast, Inc. (a),*
6,000,689
209,432
(2,280,398
)
(985,125
)
1,786,930
4,731,528
377,616
Nu Skin Enterprises, Inc., Class A
15,820,653
416,748
(4,887,059
)
(2,818,701
)
(1,464,031
)
73,239
 
4,731,528
 
Materials 0.0%
Trinseo PLC (a)
381,372
122
(364,907
)
16,587
1,658,718
 
Media & Entertainment 0.0%
AMC Global Media, Inc., Class A *
12,434,430
346,791
(3,570,860
)
(818,328
)
2,120,409
EW Scripps Co., Class A *
14,561,840
391,691
(5,014,421
)
(741,672
)
(1,898,012
)
Gray Media, Inc.
18,730,378
596,046
(5,928,938
)
(999,623
)
(2,721,889
)
288,816
 
Total
$109,559,097
$3,864,874
($31,835,870
)
($32,910,985
)
$25,128,398
$13,602,931
$540,702
(a)
Issuer is an affiliated company, as the investment adviser owns at least 5% of the voting securities of such company.
*
Non-income producing security.

32
  

Schwab Fundamental U.S. Small Company ETF
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks 1
$8,515,591,666
$
$
$8,515,591,666
Health Care Equipment & Services
382,114,991
0
*
382,114,991
Short-Term Investments 1
97,421,515
97,421,515
Futures Contracts 2
302,253
302,253
Total
$8,995,430,425
$—
$0
$8,995,430,425
*
Level 3 amount shown includes securities determined to have no value.
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
  
33

Schwab Strategic Trust
Schwab Fundamental International Equity ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 97.9% OF NET ASSETS
 
Australia 4.7%
AGL Energy Ltd.
1,499,009
9,232,277
Ampol Ltd.
599,058
14,465,107
ANZ Group Holdings Ltd.
2,078,773
52,647,839
APA Group
1,080,795
7,838,531
Aristocrat Leisure Ltd.
219,676
7,918,650
Aurizon Holdings Ltd.
3,273,023
9,867,199
BHP Group Ltd.
6,660,635
298,609,902
BlueScope Steel Ltd.
1,081,175
24,675,161
Brambles Ltd.
794,849
9,476,282
Coles Group Ltd.
1,312,330
20,508,491
Commonwealth Bank of Australia
609,266
72,339,307
Computershare Ltd.
203,240
5,058,137
CSL Ltd.
209,680
14,575,045
Downer EDI Ltd.
1,215,603
7,110,713
Dyno Nobel Ltd.
2,529,629
6,843,456
Endeavour Group Ltd. (a)
2,436,989
5,049,831
Fortescue Ltd.
2,759,599
44,297,210
Goodman Group
237,154
5,403,925
Insurance Australia Group Ltd.
1,352,960
7,456,664
JB Hi-Fi Ltd.
120,867
6,477,934
Lendlease Corp. Ltd.
1,151,907
2,254,328
Macquarie Group Ltd.
156,675
26,891,185
Medibank Pvt Ltd.
2,239,926
7,735,809
Metcash Ltd.
2,277,795
5,031,342
Mineral Resources Ltd. *
206,176
10,898,807
National Australia Bank Ltd.
1,645,277
44,190,390
Northern Star Resources Ltd.
411,596
5,570,456
Orica Ltd.
420,268
6,921,543
Origin Energy Ltd.
1,322,703
10,344,814
QBE Insurance Group Ltd.
934,826
15,227,830
Ramsay Health Care Ltd.
262,405
7,002,607
Rio Tinto Ltd.
600,499
80,203,122
Santos Ltd.
4,074,570
22,896,212
Scentre Group
2,439,921
6,723,654
Sonic Healthcare Ltd.
723,806
10,165,595
South32 Ltd.
6,838,015
23,664,969
Stockland
1,726,110
5,091,939
Suncorp Group Ltd.
841,930
10,528,259
Telstra Group Ltd.
3,900,560
14,621,620
Transurban Group
1,076,324
11,600,739
Viva Energy Group Ltd.
2,772,149
4,228,470
Wesfarmers Ltd.
598,974
34,386,443
Westpac Banking Corp.
1,999,390
51,788,202
Whitehaven Coal Ltd.
1,917,342
12,070,867
Woodside Energy Group Ltd.
2,337,170
51,557,669
Woolworths Group Ltd.
1,323,304
33,543,092
Worley Ltd.
947,165
8,818,419
 
1,153,810,043
 
Austria 0.4%
ams-OSRAM AG *
510,440
13,157,051
BAWAG Group AG
46,872
8,428,848
Erste Group Bank AG
174,406
20,962,871
OMV AG
431,069
31,012,158
Raiffeisen Bank International AG
209,239
12,066,950
SECURITY
NUMBER
OF SHARES
VALUE ($)
voestalpine AG
311,000
17,565,393
Wienerberger AG
186,136
5,256,514
 
108,449,785
 
Belgium 0.6%
Ageas SA
145,383
11,298,999
Anheuser-Busch InBev SA
838,496
67,515,300
KBC Group NV
152,756
20,312,563
Proximus SADP
611,267
4,764,963
Syensqo SA
119,352
9,359,467
UCB SA
32,671
9,596,166
Umicore SA
941,890
27,786,214
 
150,633,672
 
Canada 8.4%
Agnico Eagle Mines Ltd.
109,185
20,090,896
Algonquin Power & Utilities Corp.
907,308
5,374,493
Alimentation Couche-Tard, Inc.
1,003,810
56,757,839
AltaGas Ltd.
298,872
11,639,855
ARC Resources Ltd.
681,707
15,444,866
Atco Ltd., Class I
150,776
7,444,945
B2Gold Corp.
1,543,059
7,392,973
Bank of Montreal
398,294
64,745,363
Bank of Nova Scotia
1,075,027
86,326,802
Barrick Mining Corp.
1,220,162
52,170,550
Bausch Health Cos., Inc. *
1,414,010
7,606,123
BCE, Inc. (a)
993,516
25,084,016
Brookfield Corp.
915,704
41,751,928
Canadian Imperial Bank of
Commerce
552,723
60,382,044
Canadian National Railway Co.
365,435
43,306,787
Canadian Natural Resources Ltd.
2,413,800
109,865,529
Canadian Pacific Kansas City Ltd.
310,793
27,772,943
Canadian Tire Corp. Ltd., Class A
110,444
14,182,820
Capital Power Corp.
115,849
5,940,672
CCL Industries, Inc., Class B
109,588
7,083,384
Cenovus Energy, Inc.
3,030,645
83,732,967
CGI, Inc.
196,652
13,744,441
Constellation Software, Inc.
3,181
6,518,400
Dollarama, Inc.
52,805
6,758,028
Element Fleet Management Corp.
204,987
4,087,687
Emera, Inc.
224,208
11,734,889
Empire Co. Ltd., Class A
286,176
10,156,542
Enbridge, Inc.
1,656,365
90,949,475
Fairfax Financial Holdings Ltd.
14,743
22,963,998
Finning International, Inc.
162,673
12,296,570
First Quantum Minerals Ltd. *
601,979
18,545,961
Fortis, Inc.
357,257
19,777,445
Franco-Nevada Corp.
25,827
5,987,522
George Weston Ltd.
203,934
14,297,808
Gildan Activewear, Inc.
118,863
7,257,498
Great-West Lifeco, Inc. (a)
156,543
9,145,643
Hydro One Ltd.
175,950
7,242,107
iA Financial Corp., Inc.
62,682
7,820,974
Imperial Oil Ltd.
195,032
23,158,059
Intact Financial Corp.
88,376
17,377,523
Keyera Corp.
211,549
8,782,612
Kinross Gold Corp.
448,733
13,642,291
Linamar Corp.
96,373
7,135,891
34
  

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Loblaw Cos. Ltd.
463,281
20,740,111
Lundin Mining Corp.
442,606
13,231,110
Magna International, Inc.
860,669
55,824,308
Manulife Financial Corp. (a)
1,088,915
41,681,600
Methanex Corp.
134,980
7,991,702
Metro, Inc.
239,366
15,372,734
National Bank of Canada
173,928
25,420,975
Nutrien Ltd.
994,342
68,146,948
Open Text Corp.
260,408
6,196,635
Pembina Pipeline Corp.
491,744
22,956,740
Power Corp. of Canada
410,254
24,816,860
Quebecor, Inc., Class B
179,220
8,703,726
Restaurant Brands International, Inc.
174,958
13,100,735
Rogers Communications, Inc.,
Class B
626,145
24,181,274
Royal Bank of Canada
661,750
127,032,173
Saputo, Inc.
323,057
9,905,940
Shopify, Inc., Class A *
47,119
5,623,632
Sun Life Financial, Inc. (a)
327,571
23,560,477
Suncor Energy, Inc.
1,994,366
124,753,743
TC Energy Corp.
616,687
41,122,912
Teck Resources Ltd., Class B
631,557
41,917,358
TELUS Corp.
923,526
11,604,831
TFI International, Inc.
90,296
13,940,803
Thomson Reuters Corp.
58,178
5,048,527
Toromont Industries Ltd.
49,844
8,227,670
Toronto-Dominion Bank
1,068,424
122,350,467
Tourmaline Oil Corp.
331,049
15,144,792
Vermilion Energy, Inc.
581,089
6,416,002
Waste Connections, Inc.
81,034
12,102,599
West Fraser Timber Co. Ltd.
239,269
16,551,082
Wheaton Precious Metals Corp.
46,767
6,292,861
Whitecap Resources, Inc.
1,356,162
15,594,066
WSP Global, Inc.
54,912
7,783,469
 
2,056,818,021
 
China 0.1%
China Gas Holdings Ltd.
5,184,583
4,584,321
Kingboard Holdings Ltd.
1,700,985
14,270,008
SITC International Holdings Co. Ltd.
1,502,705
6,637,871
 
25,492,200
 
Denmark 0.9%
AP Moller - Maersk AS, Class A
12,765
30,934,341
AP Moller - Maersk AS, Class B
16,140
39,844,074
Carlsberg AS, Class B
88,061
11,844,502
Coloplast AS, Class B
60,244
3,723,213
Danske Bank AS
295,143
15,549,123
DSV AS
104,838
26,347,417
Genmab AS *
20,813
5,537,741
ISS AS
173,127
7,131,287
Novo Nordisk AS, Class B
1,169,826
53,511,005
Novonesis Novozymes B, Class B
100,400
5,839,670
Orsted AS *
444,448
11,391,743
Pandora AS
58,885
5,525,957
Rockwool AS, B Shares
56,120
1,773,603
Vestas Wind Systems AS
441,880
12,422,980
 
231,376,656
 
Finland 1.2%
Elisa OYJ
116,747
5,602,101
Fortum OYJ
633,428
14,820,531
Kesko OYJ, B Shares
372,169
9,024,806
Kone OYJ, B Shares
186,991
11,185,397
Metso OYJ
353,342
6,754,003
Neste OYJ
1,159,356
38,097,948
SECURITY
NUMBER
OF SHARES
VALUE ($)
Nokia OYJ
5,923,489
86,336,044
Nordea Bank Abp
2,622,126
50,396,372
Outokumpu OYJ
1,994,948
13,874,903
Sampo OYJ, A Shares
1,795,349
18,989,822
Stora Enso OYJ, R Shares
1,131,388
13,262,141
UPM-Kymmene OYJ
758,667
22,168,568
Wartsila OYJ Abp
196,904
8,019,219
 
298,531,855
 
France 7.5%
Accor SA
98,351
5,397,664
Air Liquide SA
287,705
59,788,089
Alstom SA *
374,913
7,498,829
Arkema SA
191,097
13,580,735
AXA SA
1,316,778
61,049,659
Ayvens SA
777,481
10,506,316
BNP Paribas SA
1,055,417
114,478,940
Bollore SE
593,713
3,769,013
Bouygues SA
301,314
17,742,658
Bureau Veritas SA
185,204
5,619,217
Capgemini SE *
208,025
24,748,842
Carrefour SA
2,566,186
48,018,569
Cie de Saint-Gobain SA
464,652
42,434,567
Cie Generale des Etablissements
Michelin SCA
1,203,721
44,261,524
Credit Agricole SA
690,075
13,367,694
Danone SA
488,461
34,736,372
Dassault Systemes SE
237,027
5,201,436
Eiffage SA
150,124
21,854,597
Elis SA
167,139
5,289,561
Emeis SA *
333,223
5,793,932
Engie SA
2,054,415
63,459,148
EssilorLuxottica SA
108,193
22,113,701
Forvia SE *
1,094,184
14,549,793
Hermes International SCA
4,597
8,690,437
Kering SA
94,164
28,059,045
Legrand SA
111,194
19,158,739
L'Oreal SA
104,425
46,617,052
LVMH Moet Hennessy Louis Vuitton
SE
147,056
81,178,667
Orange SA
3,910,173
81,836,957
Pernod Ricard SA
196,992
14,578,974
Publicis Groupe SA
188,471
18,417,455
Renault SA
744,513
25,708,064
Rexel SA
514,475
22,099,488
Rubis SCA
162,738
6,737,902
Safran SA
66,676
23,785,763
Sanofi SA
1,108,351
97,379,319
Schneider Electric SE
218,302
68,769,072
SCOR SE
238,974
8,583,638
SEB SA
76,186
4,443,483
Societe Generale SA
877,509
73,349,752
Sodexo SA
117,460
6,469,700
Teleperformance SE (a)
148,961
10,958,242
Thales SA
31,907
8,917,510
TotalEnergies SE
4,735,487
415,450,312
Unibail-Rodamco-Westfield *
76,119
8,824,078
Valeo SE
1,025,177
15,875,298
Veolia Environnement SA
836,917
33,918,707
Vinci SA
454,708
66,354,199
Worldline SA *(a)
4,220,888
1,767,292
 
1,843,190,001
 
Germany 6.6%
adidas AG
129,820
25,238,801
Allianz SE
237,798
105,893,349
Aumovio SE *
93,627
4,381,246
  
35

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Aurubis AG (a)
69,555
17,548,345
BASF SE
2,090,516
123,976,758
Bayer AG
2,641,501
112,603,677
Bayerische Motoren Werke AG
836,856
73,008,285
Beiersdorf AG
54,891
4,431,327
BioNTech SE, ADR *
196,561
18,860,028
Brenntag SE
214,491
14,151,973
Commerzbank AG
362,291
15,668,055
Continental AG
210,961
17,567,467
Daimler Truck Holding AG
546,539
26,882,574
Deutsche Bank AG
1,001,291
32,553,189
Deutsche Boerse AG
50,788
14,674,519
Deutsche Lufthansa AG
1,494,347
14,962,042
Deutsche Post AG
1,565,237
93,519,502
Deutsche Telekom AG
4,490,404
151,228,576
E.ON SE
2,224,698
47,249,212
Evonik Industries AG *(a)
672,986
13,201,579
Freenet AG
96,680
2,852,107
Fresenius Medical Care AG
439,726
19,083,606
Fresenius SE & Co. KGaA
636,183
26,926,613
FUCHS SE
39,089
1,480,203
GEA Group AG
90,995
5,888,046
Hannover Rueck SE
26,469
7,178,369
Hapag-Lloyd AG (a)
57,860
7,494,687
Heidelberg Materials AG
105,520
23,494,449
Henkel AG & Co. KGaA
82,497
5,997,611
Infineon Technologies AG
620,735
58,753,366
K&S AG (a)
478,968
8,277,776
KION Group AG
109,260
5,590,915
Lanxess AG
338,290
6,513,662
Mercedes-Benz Group AG
2,613,823
159,189,930
Merck KGaA
93,441
14,268,007
MTU Aero Engines AG
13,888
5,077,527
Muenchener
Rueckversicherungs-Gesellschaft
AG in Muenchen
69,241
36,546,184
Puma SE *
248,757
8,438,640
Rheinmetall AG
4,012
6,055,443
RWE AG
379,148
24,139,888
SAP SE
276,679
50,128,868
Schaeffler AG
454,605
5,602,092
Siemens AG
365,586
115,102,199
Siemens Energy AG
108,014
20,575,896
Siemens Healthineers AG
161,357
6,575,279
Symrise AG
73,453
6,780,132
thyssenkrupp AG
1,541,940
21,133,558
Tkms AG& Co. KGaA *
72,256
7,108,101
Volkswagen AG *
158,452
17,353,382
Vonovia SE
345,680
8,644,672
Zalando SE *
234,140
6,363,517
 
1,626,215,229
 
Hong Kong 0.9%
AIA Group Ltd.
6,278,608
65,891,177
CK Asset Holdings Ltd.
2,417,615
14,603,043
CLP Holdings Ltd.
1,856,210
18,118,262
HKT Trust & HKT Ltd.
3,613,129
5,578,235
Hong Kong & China Gas Co. Ltd.
8,803,061
8,053,429
Hong Kong Exchanges & Clearing
Ltd.
148,011
7,550,310
Link REIT
1,428,842
7,361,707
New World Development Co.
Ltd. *(a)
9,161,947
9,609,208
Pacific Basin Shipping Ltd.
16,293,828
6,548,799
Sun Hung Kai Properties Ltd.
1,061,825
17,842,952
Swire Pacific Ltd., A Shares
634,734
6,608,607
Swire Pacific Ltd., B Shares
1,831,423
3,047,153
Techtronic Industries Co. Ltd.
940,300
13,953,210
SECURITY
NUMBER
OF SHARES
VALUE ($)
WH Group Ltd.
19,257,097
22,236,549
Yue Yuen Industrial Holdings Ltd.
2,669,338
4,996,451
 
211,999,092
 
Indonesia 0.1%
Jardine Matheson Holdings Ltd.
231,165
15,344,733
 
Ireland 0.7%
AIB Group PLC
934,328
11,012,169
Allegion PLC
26,810
3,487,177
Bank of Ireland Group PLC
485,165
9,871,054
DCC PLC
238,915
19,338,838
Glanbia PLC
78,431
1,909,212
ICON PLC *
38,187
5,196,105
James Hardie Industries PLC, CDI *
229,027
5,259,935
Kerry Group PLC, Class A
128,735
11,034,193
Kingspan Group PLC
92,410
8,476,052
Medtronic PLC
678,435
50,075,287
Octave Intelligence plc, SDR *
92,217
1,572,031
Perrigo Co. PLC
233,686
2,582,230
Ryanair Holdings PLC
411,678
12,072,640
Smurfit Westrock PLC (b)
72,065
2,958,886
Smurfit Westrock PLC (b)
301,738
12,416,519
Trane Technologies PLC
33,822
15,263,869
 
172,526,197
 
Isle Of Man 0.0%
Entain PLC
691,506
4,975,634
 
Israel 0.6%
Bank Hapoalim BM
603,591
15,609,462
Bank Leumi Le-Israel BM
641,064
16,352,168
Check Point Software Technologies
Ltd. *
37,227
5,027,506
ICL Group Ltd.
1,370,233
9,091,061
Israel Discount Bank Ltd., A Shares
676,020
7,550,050
Mizrahi Tefahot Bank Ltd.
77,007
5,952,457
Oil Refineries Ltd.
14,124,077
8,151,655
Teva Pharmaceutical Industries Ltd.,
ADR *
984,530
34,773,600
ZIM Integrated Shipping Services
Ltd.
1,360,495
31,958,028
 
134,465,987
 
Italy 2.1%
A2A SpA
2,317,950
6,083,390
Banco BPM SpA
590,393
9,290,611
BPER Banca SpA
542,109
7,349,708
Enel SpA
8,397,229
94,316,756
Eni SpA
5,122,599
134,680,175
Generali
897,828
40,557,244
Hera SpA
305,963
1,376,759
Intesa Sanpaolo SpA
7,333,305
49,693,970
Leonardo SpA
129,759
8,240,397
Moncler SpA
100,897
6,577,052
Poste Italiane SpA
266,070
7,874,034
Prysmian SpA
129,208
22,315,326
Snam SpA
1,333,049
9,747,396
Telecom Italia SpA *(a)
46,533,025
39,575,077
Terna - Rete Elettrica Nazionale
720,743
8,286,230
UniCredit SpA
814,449
70,559,253
Unipol Assicurazioni SpA
293,165
7,266,391
 
523,789,769
 
36
  

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Japan 22.4%
Advantest Corp.
97,685
16,058,901
Aeon Co. Ltd.
1,713,042
14,973,918
AGC, Inc.
582,561
25,389,837
Air Water, Inc.
429,935
7,019,292
Aisin Corp.
1,388,480
21,050,923
Ajinomoto Co., Inc.
545,648
17,659,266
Alfresa Holdings Corp.
579,295
8,133,201
Alps Alpine Co. Ltd.
541,043
7,378,632
Amada Co. Ltd.
421,947
7,988,870
ANA Holdings, Inc.
388,944
7,301,710
Asahi Group Holdings Ltd.
2,121,165
20,300,238
Asahi Kasei Corp.
3,039,631
34,121,619
Astellas Pharma, Inc.
1,957,917
28,079,179
Bandai Namco Holdings, Inc.
397,688
9,095,936
Bridgestone Corp.
1,857,922
40,183,588
Brother Industries Ltd.
507,894
11,973,907
Canon, Inc.
1,112,540
29,548,459
Central Japan Railway Co.
754,696
16,493,419
Chubu Electric Power Co., Inc.
1,729,905
31,785,741
Chugai Pharmaceutical Co. Ltd.
217,091
10,762,499
Chugoku Electric Power Co., Inc.
922,232
5,072,595
Coca-Cola Bottlers Japan Holdings,
Inc.
234,666
5,213,981
COMSYS Holdings Corp.
227,699
7,765,424
Cosmo Energy Holdings Co. Ltd.
373,264
8,767,097
Dai Nippon Printing Co. Ltd.
659,587
11,479,275
Daifuku Co. Ltd.
187,065
8,591,194
Daiichi Life Group, Inc.
2,866,956
29,463,785
Daiichi Sankyo Co. Ltd.
711,506
12,069,992
Daikin Industries Ltd.
299,235
43,769,627
Daito Trust Construction Co. Ltd.
559,196
11,142,469
Daiwa House Industry Co. Ltd.
958,276
26,089,379
Daiwa Securities Group, Inc.
764,911
7,209,931
Daiwabo Holdings Co. Ltd.
220,151
4,732,437
Denso Corp.
3,129,111
37,504,515
Dentsu Group, Inc.
368,707
6,962,330
DIC Corp.
235,780
7,158,268
Disco Corp.
17,499
7,155,034
Dowa Holdings Co. Ltd.
160,049
10,355,579
East Japan Railway Co.
895,068
19,184,446
Ebara Corp.
294,380
10,509,212
Eisai Co. Ltd.
358,859
8,981,056
Electric Power Development Co. Ltd.,
Class C
520,017
13,122,107
ENEOS Holdings, Inc.
9,052,336
74,237,230
EXEO Group, Inc.
344,795
6,164,248
FANUC Corp.
523,000
25,928,237
Fast Retailing Co. Ltd.
49,870
25,791,803
Fuji Electric Co. Ltd.
150,438
14,591,135
FUJIFILM Holdings Corp.
1,553,261
32,413,676
Fujikura Ltd.
461,892
13,843,123
Fujitsu Ltd.
1,429,035
30,234,248
Furukawa Electric Co. Ltd.
93,516
30,582,593
Hankyu Hanshin Holdings, Inc.
253,406
7,454,616
Hanwa Co. Ltd.
704,463
8,377,087
Haseko Corp.
399,245
6,802,890
Hitachi Construction Machinery Co.
Ltd.
168,073
5,489,111
Hitachi Ltd.
3,039,975
98,652,622
Honda Motor Co. Ltd.
11,282,101
102,941,464
Hoya Corp.
104,639
17,800,265
Idemitsu Kosan Co. Ltd.
3,322,776
29,190,918
IHI Corp.
348,101
6,049,509
Iida Group Holdings Co. Ltd.
404,878
5,422,450
Inpex Corp.
1,606,664
36,374,251
Isetan Mitsukoshi Holdings Ltd.
241,135
5,144,133
Isuzu Motors Ltd.
1,242,230
18,326,385
SECURITY
NUMBER
OF SHARES
VALUE ($)
ITOCHU Corp.
7,433,373
90,378,123
Iwatani Corp.
461,307
5,842,044
Japan Airlines Co. Ltd.
384,202
6,611,730
Japan Post Bank Co. Ltd.
943,447
18,188,572
Japan Post Holdings Co. Ltd.
2,422,172
31,465,869
Japan Post Insurance Co. Ltd.
747,801
6,715,130
Japan Tobacco, Inc.
835,227
32,356,586
JFE Holdings, Inc.
2,628,698
28,080,287
JTEKT Corp.
836,270
11,378,609
JX Advanced Metals Corp.
85,754
2,116,511
Kajima Corp.
423,154
15,701,807
Kaneka Corp.
180,128
6,247,168
Kansai Electric Power Co., Inc.
1,629,294
23,903,613
Kao Corp.
465,330
17,874,822
Kawasaki Heavy Industries Ltd.
555,564
10,947,951
Kawasaki Kisen Kaisha Ltd.
427,892
6,773,590
KDDI Corp.
3,779,607
65,019,497
Keyence Corp.
46,918
23,610,786
Kikkoman Corp.
612,544
5,360,097
Kintetsu Group Holdings Co. Ltd.
280,957
6,330,754
Kioxia Holdings Corp. *
13,814
5,714,253
Kirin Holdings Co. Ltd.
1,190,855
20,336,323
Kobe Steel Ltd.
1,158,414
14,408,315
Koito Manufacturing Co. Ltd.
478,451
8,406,479
Komatsu Ltd.
1,095,190
45,248,223
Konica Minolta, Inc.
1,862,461
7,132,083
K's Holdings Corp.
457,683
6,026,155
Kubota Corp.
1,742,502
31,108,679
Kuraray Co. Ltd.
771,518
7,950,721
Kyocera Corp.
1,763,015
38,573,913
Kyushu Electric Power Co., Inc.
1,118,632
11,517,293
Lixil Corp.
903,422
9,571,086
LY Corp.
2,241,160
5,874,967
Makita Corp.
273,533
9,508,962
Marubeni Corp.
2,014,084
65,740,188
MatsukiyoCocokara & Co.
390,848
5,574,599
Mazda Motor Corp.
3,530,848
25,473,830
Medipal Holdings Corp.
623,771
10,763,860
MEIJI Holdings Co. Ltd.
559,953
13,253,991
Minebea Mitsumi, Inc.
561,225
16,083,350
MISUMI Group, Inc.
364,302
8,634,408
Mitsubishi Chemical Group Corp.
4,527,750
32,623,464
Mitsubishi Corp.
4,812,444
153,119,096
Mitsubishi Electric Corp.
1,978,492
81,506,065
Mitsubishi Estate Co. Ltd.
772,692
19,687,410
Mitsubishi Gas Chemical Co., Inc.
397,511
13,846,338
Mitsubishi HC Capital, Inc.
1,176,650
9,620,014
Mitsubishi Heavy Industries Ltd.
1,054,444
25,210,213
Mitsubishi Materials Corp.
481,152
15,574,950
Mitsubishi Motors Corp. (a)
2,632,432
6,143,278
Mitsubishi UFJ Financial Group, Inc.
4,201,476
79,152,123
Mitsui & Co. Ltd.
3,393,849
112,780,082
Mitsui Chemicals, Inc.
952,506
13,052,904
Mitsui Fudosan Co. Ltd.
1,927,965
18,536,029
Mitsui Kinzoku Co. Ltd.
90,377
29,311,920
Mitsui OSK Lines Ltd.
522,087
17,959,347
Mizuho Financial Group, Inc.
1,176,484
53,174,209
MS&AD Insurance Group Holdings,
Inc.
1,040,420
28,018,597
Murata Manufacturing Co. Ltd.
1,921,580
116,183,224
Nagase & Co. Ltd.
801,343
5,665,629
NEC Corp.
944,075
24,332,808
NGK Corp.
437,179
17,345,452
NH Foods Ltd.
268,890
10,313,728
Nichirei Corp.
433,030
4,956,220
NIDEC Corp.
1,165,413
20,439,934
Nikon Corp.
595,520
6,900,161
Nintendo Co. Ltd.
528,206
23,717,674
Nippon Express Holdings, Inc.
672,688
22,222,917
  
37

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Nippon Paper Industries Co. Ltd.
593,892
4,696,966
Nippon Sanso Holdings Corp.
144,878
5,628,027
Nippon Steel Corp. (a)
13,169,600
46,874,146
Nippon Yusen KK
907,004
30,271,451
Nissan Motor Co. Ltd. *
15,887,611
39,601,759
Nisshin Seifun Group, Inc.
518,725
6,403,007
Nissin Foods Holdings Co. Ltd.
251,985
4,235,893
Nissui Corp.
685,584
5,708,534
Niterra Co. Ltd.
202,849
12,952,824
Nitori Holdings Co. Ltd.
459,261
7,554,337
Nitto Denko Corp.
676,634
12,711,062
Nomura Holdings, Inc.
1,700,683
13,728,109
Nomura Research Institute Ltd.
235,329
7,423,973
NSK Ltd.
1,308,299
10,264,875
NTT, Inc.
60,275,991
56,606,952
Obayashi Corp.
717,623
14,628,347
Oji Holdings Corp.
2,183,682
10,729,795
Olympus Corp.
942,022
10,565,866
Omron Corp.
332,425
11,994,781
Ono Pharmaceutical Co. Ltd.
627,129
9,425,254
ORIX Corp.
886,530
34,733,888
Osaka Gas Co. Ltd.
567,500
19,111,549
Otsuka Corp.
296,541
5,381,663
Otsuka Holdings Co. Ltd.
387,261
28,499,043
Pan Pacific International Holdings
Corp.
1,146,415
6,324,403
Panasonic Holdings Corp.
5,308,690
123,388,109
Persol Holdings Co. Ltd.
3,297,704
5,021,443
Recruit Holdings Co. Ltd.
718,100
47,680,866
Renesas Electronics Corp.
1,237,849
34,991,648
Rengo Co. Ltd.
724,951
6,639,730
Resona Holdings, Inc.
1,112,627
14,254,682
Resonac Holdings Corp.
288,521
33,928,721
Ricoh Co. Ltd.
1,492,875
13,677,732
Rohm Co. Ltd.
501,063
17,179,483
Ryohin Keikaku Co. Ltd.
249,144
6,077,179
Sankyu, Inc.
65,160
3,675,304
Sanwa Holdings Corp.
189,273
4,333,815
SBI Holdings, Inc.
119,516
2,184,758
SCREEN Holdings Co. Ltd.
24,927
1,741,242
Secom Co. Ltd.
389,042
15,518,668
Seiko Epson Corp.
752,421
13,837,003
Sekisui Chemical Co. Ltd.
668,067
9,614,558
Sekisui House Ltd.
1,154,882
24,325,142
Seven & i Holdings Co. Ltd.
3,734,818
43,626,447
SG Holdings Co. Ltd.
979,290
8,910,745
Shimadzu Corp.
235,394
5,582,086
Shimamura Co. Ltd.
210,951
4,362,401
Shimano, Inc.
82,385
8,541,770
Shimizu Corp.
554,696
9,343,661
Shin-Etsu Chemical Co. Ltd.
1,647,107
80,270,470
Shionogi & Co. Ltd.
541,194
10,199,020
Shiseido Co. Ltd.
610,980
10,786,854
SMC Corp.
44,262
19,215,697
SoftBank Corp.
32,783,188
44,338,340
SoftBank Group Corp.
2,116,104
99,577,455
Sojitz Corp.
402,176
13,619,768
Sompo Holdings, Inc.
687,096
25,715,924
Sony Financial Group, Inc.
1,613,880
1,419,330
Sony Group Corp.
3,355,409
72,592,679
Stanley Electric Co. Ltd.
182,253
4,065,459
Subaru Corp.
1,481,248
22,722,581
SUMCO Corp.
851,354
21,360,060
Sumitomo Chemical Co. Ltd.
5,217,023
19,997,660
Sumitomo Corp.
1,465,863
65,369,442
Sumitomo Electric Industries Ltd.
1,084,841
85,763,704
Sumitomo Forestry Co. Ltd.
969,084
7,947,353
Sumitomo Heavy Industries Ltd.
343,734
11,275,702
Sumitomo Metal Mining Co. Ltd.
437,878
25,011,776
SECURITY
NUMBER
OF SHARES
VALUE ($)
Sumitomo Mitsui Financial Group,
Inc.
2,156,475
78,827,364
Sumitomo Mitsui Trust Group, Inc.
363,948
12,514,928
Sumitomo Realty & Development Co.
Ltd.
408,074
9,528,306
Sumitomo Rubber Industries Ltd. (a)
506,884
6,626,205
Suntory Beverage & Food Ltd.
206,986
5,628,761
Suzuken Co. Ltd.
177,871
5,905,197
Suzuki Motor Corp.
2,642,992
32,765,530
Sysmex Corp.
453,026
3,975,610
T&D Holdings, Inc.
238,134
6,273,849
Taiheiyo Cement Corp.
261,583
7,443,753
Taisei Corp.
142,783
12,566,052
Taiyo Yuden Co. Ltd.
181,650
16,905,237
Takeda Pharmaceutical Co. Ltd.
2,139,107
68,772,848
TDK Corp.
1,615,472
41,688,291
Teijin Ltd.
708,338
7,348,578
Terumo Corp.
811,803
12,244,105
TIS, Inc.
207,575
4,408,638
Tobu Railway Co. Ltd.
291,639
5,098,507
Toho Gas Co. Ltd.
592,057
4,574,597
Tohoku Electric Power Co., Inc.
1,475,280
9,327,654
Tokio Marine Holdings, Inc.
960,069
42,886,178
Tokyo Electric Power Co. Holdings,
Inc. *
6,390,439
22,669,018
Tokyo Electron Ltd.
203,560
67,030,688
Tokyo Gas Co. Ltd.
604,960
24,245,523
Tokyu Corp.
591,397
5,932,917
Tokyu Fudosan Holdings Corp.
780,768
6,469,207
TOPPAN Holdings, Inc.
443,374
12,706,025
Toray Industries, Inc.
2,839,792
21,264,100
Tosoh Corp.
674,390
11,650,057
TOTO Ltd.
253,943
12,248,096
Toyo Seikan Group Holdings Ltd.
249,542
6,097,860
Toyo Suisan Kaisha Ltd.
76,253
5,345,709
Toyoda Gosei Co. Ltd.
53,826
1,632,126
Toyota Boshoku Corp.
310,389
4,463,097
Toyota Motor Corp.
11,422,904
218,283,020
Toyota Tsusho Corp.
1,104,593
48,086,120
Tsuruha Holdings, Inc.
256,613
3,178,042
UBE Corp.
322,637
5,983,955
Unicharm Corp.
1,106,691
6,591,899
West Japan Railway Co.
491,273
8,111,760
Yakult Honsha Co. Ltd.
288,569
4,860,844
Yamada Holdings Co. Ltd.
2,211,208
8,674,536
Yamaha Corp.
816,492
5,929,171
Yamaha Motor Co. Ltd.
2,408,926
19,838,570
Yamato Holdings Co. Ltd.
738,439
8,433,206
Yamazaki Baking Co. Ltd.
218,592
4,300,711
Yaskawa Electric Corp.
231,417
10,478,383
Yokogawa Electric Corp.
204,731
6,431,684
Yokohama Rubber Co. Ltd.
214,801
9,686,892
 
5,494,286,247
 
Jersey 1.5%
Aptiv PLC *
301,925
20,512,785
B&M European Value Retail PLC
3,037,493
7,001,407
Experian PLC
341,036
11,828,072
Glencore PLC *
39,279,984
300,635,760
International Workplace Group PLC
1,208,552
3,082,197
Versigent PLC *
99,234
4,378,204
WPP PLC
3,544,929
13,460,721
 
360,899,146
 
Luxembourg 0.6%
Aperam SA
149,293
8,893,799
ArcelorMittal SA
1,404,370
97,215,341
38
  

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Eurofins Scientific SE
105,465
7,687,099
Millicom International Cellular SA
138,686
11,838,237
SES SA, Class A
980,997
10,812,391
Spotify Technology SA *
3,644
1,813,546
Subsea 7 SA
267,602
8,837,774
Tenaris SA
389,268
11,851,543
 
158,949,730
 
Mauritius 0.0%
Golden Agri-Resources Ltd.
25,708,775
5,543,508
 
Netherlands 3.1%
Aalberts NV
145,631
6,668,604
ABN AMRO Bank NV, GDR
680,749
27,104,922
AerCap Holdings NV
74,326
10,360,301
Airbus SE
169,994
35,647,887
Akzo Nobel NV
347,661
26,638,451
ASM International NV
8,774
9,198,553
ASML Holding NV
60,418
97,634,997
ASR Nederland NV
72,232
5,419,918
Ferrari NV
18,638
6,420,484
Heineken Holding NV
183,105
13,226,440
Heineken NV
274,897
21,512,242
IMCD NV
45,422
4,682,478
ING Groep NV, Series N
2,330,168
72,602,339
Iveco Group NV
305,030
4,954,889
JBS NV, Class A
276,216
3,444,414
Koninklijke Ahold Delhaize NV
1,911,166
80,667,582
Koninklijke KPN NV
3,303,173
17,214,807
Koninklijke Philips NV
847,895
22,628,739
Magnum Ice Cream Co. NV *(b)
161,310
2,615,792
Magnum Ice Cream Co. NV *(b)
237,722
3,842,046
NN Group NV
211,950
17,728,971
NXP Semiconductors NV
115,092
36,984,814
Prosus NV *
123,585
5,627,366
Randstad NV (a)
347,506
10,681,450
SBM Offshore NV
179,208
6,825,896
Signify NV
371,654
9,029,665
Stellantis NV *
14,736,930
118,059,158
STMicroelectronics NV
836,548
57,547,544
Universal Music Group NV
257,623
5,862,345
Wolters Kluwer NV
109,073
7,766,790
 
748,599,884
 
New Zealand 0.0%
EBOS Group Ltd.
33,934
396,574
Fletcher Building Ltd. *
2,540,462
4,775,859
Spark New Zealand Ltd.
3,286,459
3,856,501
 
9,028,934
 
Norway 1.0%
Aker BP ASA
621,930
22,398,423
DNB Bank ASA
596,858
18,574,258
Equinor ASA
2,948,809
106,997,780
Mowi ASA
387,547
8,560,680
Norsk Hydro ASA
2,426,210
29,739,147
Orkla ASA
557,435
5,894,136
Telenor ASA
856,217
14,008,834
Var Energi ASA
1,543,571
7,609,883
Wallenius Wilhelmsen ASA
131,387
1,688,717
Yara International ASA
484,196
26,361,503
 
241,833,361
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Poland 0.4%
Bank Polska Kasa Opieki SA *
108,886
7,272,495
KGHM Polska Miedz SA *
172,859
16,683,103
ORLEN SA
1,273,355
49,840,081
PGE Polska Grupa Energetyczna SA *
2,054,898
6,002,767
Powszechna Kasa Oszczednosci
Bank Polski SA
289,920
8,245,005
Powszechny Zaklad Ubezpieczen SA
679,655
12,085,091
Tauron Polska Energia SA *
1,878,934
4,883,838
 
105,012,380
 
Portugal 0.2%
EDP SA
3,976,572
20,264,886
Galp Energia SGPS SA
727,617
15,822,837
Jeronimo Martins SGPS SA
306,055
6,485,858
 
42,573,581
 
Republic of Korea 11.7%
BNK Financial Group, Inc.
527,526
5,887,848
CJ CheilJedang Corp.
44,996
6,031,315
CJ Corp.
76,009
8,155,710
DB Insurance Co. Ltd.
56,944
5,407,224
Doosan Enerbility Co. Ltd. *
145,044
10,163,667
E-MART, Inc.
138,075
7,888,691
GS Holdings Corp.
379,999
18,281,306
Hana Financial Group, Inc.
284,796
21,751,838
Hankook Tire & Technology Co. Ltd.
167,300
7,415,820
Hanwha Corp.
67,827
6,017,565
Hanwha Solutions Corp. *
157,528
4,374,616
HD Hyundai Co. Ltd.
70,197
12,926,123
HMM Co. Ltd.
715,795
9,290,611
Hyundai Engineering & Construction
Co. Ltd.
151,424
14,770,622
Hyundai Glovis Co. Ltd.
68,935
11,092,726
Hyundai Mobis Co. Ltd.
131,997
67,268,544
Hyundai Motor Co.
256,404
123,012,669
Hyundai Steel Co.
591,195
15,750,816
KB Financial Group, Inc.
303,389
30,318,768
Kia Corp.
543,033
60,969,598
Korea Electric Power Corp.
429,171
11,078,137
Korea Gas Corp.
235,888
5,556,751
Korea Zinc Co. Ltd.
8,380
7,634,864
Korean Air Lines Co. Ltd.
562,287
9,999,530
KT Corp.
151,451
5,306,312
KT&G Corp.
85,258
10,449,338
Kumho Petrochemical Co. Ltd.
59,069
5,185,686
LG Chem Ltd.
122,146
29,746,239
LG Corp.
120,382
11,710,684
LG Display Co. Ltd. *
1,360,136
14,521,956
LG Electronics, Inc.
521,972
101,484,934
LG H&H Co. Ltd.
31,032
5,096,496
LG Innotek Co. Ltd.
53,466
51,727,557
LG Uplus Corp.
867,977
9,290,291
Lotte Chemical Corp.
115,164
6,167,044
NAVER Corp.
60,564
9,404,098
POSCO Holdings, Inc.
299,597
84,193,318
Samsung C&T Corp.
89,103
25,572,029
Samsung Electro-Mechanics Co. Ltd.
69,166
97,621,819
Samsung Electronics Co. Ltd.
6,437,321
1,354,101,365
Samsung Fire & Marine Insurance
Co. Ltd.
23,997
9,060,579
Samsung SDI Co. Ltd. *
70,115
32,010,033
Samsung SDS Co. Ltd.
64,233
12,744,305
Shinhan Financial Group Co. Ltd.
535,233
33,243,403
SK Hynix, Inc.
217,117
336,120,744
SK Innovation Co. Ltd. *
155,563
12,304,651
  
39

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
SK Telecom Co. Ltd.
320,837
21,417,520
SK, Inc.
167,387
75,085,343
S-Oil Corp.
140,356
10,002,810
Woori Financial Group, Inc.
839,842
16,551,631
 
2,861,165,544
 
Singapore 0.6%
DBS Group Holdings Ltd.
803,336
39,582,573
Keppel Ltd.
669,947
5,652,276
Keppel REIT
73,599
49,918
Olam Group Ltd.
6,327,130
6,201,366
Oversea-Chinese Banking Corp. Ltd.
1,944,712
35,681,390
Singapore Airlines Ltd.
1,887,315
10,033,321
Singapore Telecommunications Ltd.
4,001,839
13,618,208
United Overseas Bank Ltd.
900,735
26,555,562
Wilmar International Ltd.
5,474,035
15,408,935
 
152,783,549
 
South Africa 0.0%
Valterra Platinum Ltd.
57,944
4,838,645
 
Spain 2.7%
Acerinox SA
380,886
7,044,925
ACS Actividades de Construccion y
Servicios SA
141,889
20,581,261
Aena SME SA
200,980
5,839,885
Amadeus IT Group SA
125,825
8,037,553
Banco Bilbao Vizcaya Argentaria SA
4,274,667
100,315,139
Banco de Sabadell SA
3,078,137
10,416,890
Banco Santander SA
14,273,243
178,687,241
CaixaBank SA
1,483,295
20,078,795
Cellnex Telecom SA *
159,609
5,367,888
Endesa SA
337,412
14,119,617
Grifols SA (a)
381,886
4,135,555
Iberdrola SA
3,520,819
80,118,061
Industria de Diseno Textil SA
502,403
31,248,671
International Consolidated Airlines
Group SA
1,900,250
11,016,766
Mapfre SA (a)
1,208,341
5,671,314
Naturgy Energy Group SA
165,115
5,499,113
Redeia Corp. SA
389,727
6,699,083
Repsol SA
3,672,967
94,467,133
Telefonica SA (a)
11,238,209
51,644,602
 
660,989,492
 
Sweden 1.7%
Alfa Laval AB
121,281
6,822,446
Assa Abloy AB, B Shares
474,791
17,108,057
Atlas Copco AB, A Shares
933,416
17,938,935
Atlas Copco AB, B Shares
559,641
9,516,003
Boliden AB
350,966
21,886,792
Electrolux AB, B Shares *
456,519
1,438,789
Epiroc AB, A Shares
247,700
7,369,365
Epiroc AB, B Shares
161,737
4,140,972
Essity AB, B Shares
604,372
16,992,388
H & M Hennes & Mauritz AB,
B Shares
631,181
11,221,223
Hexagon AB, B Shares
922,170
8,531,315
Husqvarna AB, B Shares
1,033,772
4,859,145
Sandvik AB
600,705
24,494,672
Securitas AB, B Shares
580,424
9,693,378
Skandinaviska Enskilda Banken AB,
A Shares
963,492
19,294,362
Skanska AB, B Shares
491,261
13,322,693
SKF AB, B Shares
471,015
12,391,037
SECURITY
NUMBER
OF SHARES
VALUE ($)
SSAB AB, A Shares
534,473
5,515,348
SSAB AB, B Shares
1,651,066
17,019,843
Svenska Handelsbanken AB,
A Shares
990,072
14,631,395
Swedbank AB, A Shares
646,482
23,903,713
Tele2 AB, B Shares
566,232
10,627,678
Telefonaktiebolaget LM Ericsson,
B Shares
3,162,287
41,132,935
Telia Co. AB
2,934,615
15,735,823
Trelleborg AB, B Shares
164,162
7,172,225
Volvo AB, A Shares
195,726
6,897,814
Volvo AB, B Shares
1,516,022
53,444,363
Volvo Car AB, B Shares *(a)
2,474,431
6,407,673
 
409,510,382
 
Switzerland 4.4%
ABB Ltd.
520,017
55,652,168
Adecco Group AG
579,547
12,290,387
Alcon AG
200,414
13,363,498
Amrize Ltd. *
174,439
9,401,198
Barry Callebaut AG
4,334
6,672,812
Bucher Industries AG
7,956
3,222,722
Chocoladefabriken Lindt & Spruengli
AG
32
3,911,179
Chocoladefabriken Lindt & Spruengli
AG, Participation Certificates
291
3,465,483
Cie Financiere Richemont SA,
Class A
189,846
41,037,934
Coca-Cola HBC AG *
124,376
7,148,711
DSM-Firmenich AG
173,421
14,603,277
Garmin Ltd.
56,157
13,136,245
Geberit AG
11,758
7,725,804
Givaudan SA
2,650
9,835,541
Holcim AG *
288,007
28,537,150
Julius Baer Group Ltd.
117,363
9,616,151
Kuehne & Nagel International AG
68,258
15,755,206
Logitech International SA
95,881
11,645,366
Lonza Group AG
21,510
13,775,650
Nestle SA
1,624,829
165,196,667
Novartis AG
967,035
145,819,497
Partners Group Holding AG (a)
5,878
6,222,924
Roche Holding AG
477,028
201,043,476
Roche Holding AG, Bearer Shares
21,981
9,469,258
Sandoz Group AG
239,034
20,068,638
Schindler Holding AG
8,899
2,921,346
Schindler Holding AG, Participation
Certificates
18,165
6,137,531
SGS SA
59,584
6,777,790
Sika AG
75,595
14,831,655
Sonova Holding AG
21,961
5,834,906
Sunrise Communications AG,
Class A *
103,035
5,686,145
Swatch Group AG
95,399
5,201,251
Swatch Group AG, Bearer Shares
38,001
10,514,899
Swiss Life Holding AG
13,873
15,106,096
Swiss Re AG
144,221
21,724,978
Swisscom AG
21,944
18,774,639
Transocean Ltd. *
1,413,636
8,750,407
UBS Group AG
1,310,857
62,141,349
Zurich Insurance Group AG
87,385
62,294,036
 
1,075,313,970
 
United Kingdom 12.7%
3i Group PLC
199,438
6,115,941
Aberdeen Group PLC
2,432,011
8,136,568
Admiral Group PLC
145,189
6,450,522
40
  

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Anglo American PLC
1,900,814
102,180,664
Anglogold Ashanti PLC
137,455
13,311,142
Antofagasta PLC
207,073
11,438,508
ARM Holdings PLC, ADR *
11,583
4,092,158
Associated British Foods PLC
472,045
11,593,264
AstraZeneca PLC
501,001
93,208,295
Aviva PLC
1,959,723
16,198,350
BAE Systems PLC
1,461,837
39,862,890
Balfour Beatty PLC
705,836
7,578,156
Barclays PLC
13,367,362
82,515,915
Barratt Redrow PLC
2,248,700
7,968,857
Bellway PLC
214,554
5,549,905
Berkeley Group Holdings PLC *
116,878
5,425,876
BP PLC
37,730,064
265,378,395
British American Tobacco PLC
2,305,249
142,658,969
BT Group PLC
16,331,502
45,965,350
Bunzl PLC
458,829
14,558,991
Burberry Group PLC *
609,591
9,687,825
Centrica PLC
8,662,643
21,894,026
CK Hutchison Holdings Ltd.
6,795,735
61,086,525
Coca-Cola Europacific Partners PLC
129,948
11,784,984
Compass Group PLC
931,939
29,980,478
Croda International PLC
148,547
6,089,116
Currys PLC
4,577,066
9,279,166
Diageo PLC
1,653,470
34,223,158
Drax Group PLC
739,579
7,890,589
Endeavour Mining PLC
24,882
1,560,420
Firstgroup PLC
1,455,957
3,359,899
GSK PLC
3,443,370
87,329,678
Haleon PLC
5,866,748
26,626,525
Hays PLC
5,895,975
2,622,669
HSBC Holdings PLC
13,100,954
246,101,922
Imperial Brands PLC
938,595
34,109,242
Inchcape PLC
666,158
7,592,150
Informa PLC
588,415
6,434,068
Intertek Group PLC
109,155
7,827,611
Investec PLC
693,608
6,100,544
ITV PLC
5,893,493
6,530,081
J Sainsbury PLC
6,363,580
25,415,994
JD Sports Fashion PLC
5,020,033
5,701,669
Johnson Matthey PLC
559,549
15,989,980
Kingfisher PLC
5,444,882
21,100,865
Legal & General Group PLC
5,339,446
19,533,496
Lloyds Banking Group PLC
49,935,256
68,589,149
London Stock Exchange Group PLC
150,266
18,274,163
M&G PLC
4,318,364
18,394,173
Marks & Spencer Group PLC
2,648,639
12,706,464
Melrose Industries PLC
1,160,572
7,363,601
Mondi PLC
1,002,195
10,188,558
National Grid PLC (a)
3,099,904
49,954,173
NatWest Group PLC
6,052,287
48,900,151
Next PLC
66,541
11,853,059
Pearson PLC
665,368
9,973,340
Persimmon PLC
729,044
10,942,534
Prudential PLC
1,433,069
20,698,231
Reckitt Benckiser Group PLC
469,598
29,060,794
RELX PLC
629,898
20,802,248
Rentokil Initial PLC
1,388,042
8,397,101
Rio Tinto PLC
1,828,892
196,431,590
Rolls-Royce Holdings PLC
517,554
9,330,200
RS Group PLC
622,394
5,595,839
Sage Group PLC
455,819
5,175,886
Serco Group PLC
1,674,240
5,957,933
Severn Trent PLC
177,507
7,106,338
Shell PLC
12,791,095
537,598,171
Smith & Nephew PLC
679,747
10,179,708
Smiths Group PLC
238,399
7,918,065
SSE PLC
757,572
23,803,463
St. James's Place PLC
325,623
5,310,977
SECURITY
NUMBER
OF SHARES
VALUE ($)
Standard Chartered PLC
1,808,185
48,588,450
Standard Life PLC
548,936
5,741,923
Taylor Wimpey PLC
7,168,330
7,708,786
Tesco PLC
11,934,620
69,207,466
Travis Perkins PLC
808,543
5,819,938
Unilever PLC
1,387,125
78,633,423
United Utilities Group PLC
446,713
8,092,856
Vodafone Group PLC
84,190,623
126,422,060
Whitbread PLC
186,419
5,900,139
 
3,122,662,346
 
United States 0.1%
Aegon Ltd.
856,006
7,304,073
Autoliv, Inc.
78,255
9,947,776
Coronado Global Resources, Inc.,
CDI *(a)
26,684,303
5,183,826
Lululemon Athletica, Inc. *
74,253
9,740,509
 
32,176,184
Total Common Stocks
(Cost $14,790,956,624)
24,043,785,757
PREFERRED STOCKS 1.4% OF NET ASSETS
 
Germany 0.7%
Bayerische Motoren Werke AG
163,567
14,248,778
Dr. Ing hc F Porsche AG *(a)
136,389
7,462,970
FUCHS SE
74,785
3,429,724
Henkel AG & Co. KGaA
158,139
12,305,144
Porsche Automobil Holding SE *
238,700
9,108,614
Volkswagen AG *(a)
1,076,095
115,302,844
 
161,858,074
 
Republic of Korea 0.7%
Hanwha Corp.
67,916
2,145,190
Hyundai Motor Co.
47,052
8,554,909
Hyundai Motor Co. 2nd
74,263
13,403,806
LG Chem Ltd.
21,708
2,412,800
Samsung Electronics Co. Ltd.
1,076,617
144,668,177
Samsung Fire & Marine Insurance
Co. Ltd.
3,668
890,835
 
172,075,717
 
Spain 0.0%
Grifols SA, B Shares
254,900
2,052,443
Total Preferred Stocks
(Cost $230,477,082)
335,986,234
RIGHTS 0.0% OF NET ASSETS
 
Sweden 0.0%
Electrolux AB
expires 06/16/26, strike SEK
16.75 *(c)
913,038
1,221,241
Total Rights
(Cost $1,429,080)
1,221,241
  
41

Schwab Fundamental International Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
WARRANTS 0.0% OF NET ASSETS
 
Canada 0.0%
Constellation Software, Inc.
expires 03/31/40 *(c)
1,396
0
Total Warrants
(Cost $0)
0
 
 
 
SHORT-TERM INVESTMENTS 1.2% OF NET ASSETS
 
Money Market Funds 1.2%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)
28,536,493
28,536,493
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)(e)
277,316,511
277,316,511
 
305,853,004
Total Short-Term Investments
(Cost $305,853,004)
305,853,004
Total Investments in Securities
(Cost $15,328,715,790)
24,686,846,236
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
MSCI EAFE Index, expires
06/19/26
1,098
170,810,370
2,981,903
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Security is traded on separate exchanges for the same issuer.
(c)
Fair valued using significant unobservable inputs.
(d)
The rate shown is the annualized 7-day yield.
(e)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $251,839,053.
ADR —
American Depositary Receipt
CDI —
CHESS Depositary Interest
GDR —
Global Depositary Receipt
REIT —
Real Estate Investment Trust
SDR —
Swedish Depositary Receipt
SEK —
Swedish Krona

The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks1
$24,043,785,757
$
$
$24,043,785,757
Preferred Stocks1
335,986,234
335,986,234
Rights
Sweden
1,221,241
1,221,241
Warrants
Canada
0
*
0
Short-Term Investments1
305,853,004
305,853,004
Futures Contracts2
2,981,903
2,981,903
Total
$24,688,606,898
$—
$1,221,241
$24,689,828,139
*
Level 3 amount shown includes securities determined to have no value.
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
42
  

Schwab Strategic Trust
Schwab Fundamental International Small Equity ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 98.9% OF NET ASSETS
 
Australia 4.9%
Accent Group Ltd. (a)
550,967
229,924
ALS Ltd.
183,771
3,119,146
Amotiv Ltd.
115,542
528,723
AMP Ltd.
2,051,685
2,354,519
Ansell Ltd.
128,803
2,580,964
ARB Corp. Ltd.
44,237
613,017
ASX Ltd.
63,156
2,100,726
Austal Ltd. *
223,987
647,858
Bank of Queensland Ltd.
512,397
2,307,872
Bapcor Ltd.
738,637
225,866
Beach Energy Ltd.
3,005,505
2,335,458
Bega Cheese Ltd.
299,040
1,187,679
Bendigo & Adelaide Bank Ltd.
373,924
2,781,856
Breville Group Ltd. (a)
42,398
882,825
CAR Group Ltd.
70,096
1,252,782
Challenger Ltd.
202,876
1,293,288
Champion Iron Ltd.
663,929
2,125,751
Charter Hall Group
144,599
2,120,314
Cleanaway Waste Management Ltd.
1,470,806
2,423,381
Cochlear Ltd.
17,181
1,242,354
Collins Foods Ltd.
22,185
140,786
Credit Corp. Group Ltd.
59,599
483,703
Dexus
554,793
2,239,364
Domino's Pizza Enterprises Ltd.
83,993
1,087,189
Eagers Automotive Ltd.
184,396
2,771,537
Elders Ltd.
303,933
1,215,860
Evolution Mining Ltd.
527,796
4,610,156
Flight Centre Travel Group Ltd. (a)
92,198
725,058
G8 Education Ltd. (a)
884,188
95,426
GPT Group
675,081
2,355,746
GrainCorp Ltd., Class A
593,145
2,103,965
Harvey Norman Holdings Ltd.
547,497
1,815,990
Healius Ltd. *(a)
2,126,756
520,268
Helia Group Ltd.
297,132
1,032,589
IDP Education Ltd.
252,618
405,322
IGO Ltd. *
495,423
3,414,857
Iluka Resources Ltd.
661,014
3,757,237
Inghams Group Ltd.
458,094
688,861
IPH Ltd.
158,956
432,314
IRESS Ltd.
145,898
630,891
Karoon Energy Ltd.
268,845
378,163
Lendlease Corp. Ltd.
151,290
296,081
Lottery Corp. Ltd.
518,180
2,020,741
Lynas Rare Earths Ltd. *
124,473
1,718,624
Macmahon Holdings Ltd.
466,405
337,256
Magellan Financial Group Ltd.
247,550
1,505,048
Mirvac Group
2,938,077
3,572,570
Monadelphous Group Ltd.
83,606
1,868,399
Myer Holdings Ltd.
1,735,991
293,526
New Hope Corp. Ltd.
859,029
3,609,537
nib holdings Ltd.
344,567
1,656,079
Nickel Industries Ltd. *
2,806,675
2,140,567
Nine Entertainment Co. Holdings Ltd.
2,273,188
1,561,959
NRW Holdings Ltd.
544,438
2,988,848
Nufarm Ltd. *
772,458
1,667,351
Orora Ltd.
1,658,368
1,557,121
Perenti Ltd.
1,295,773
1,967,171
SECURITY
NUMBER
OF SHARES
VALUE ($)
Perpetual Ltd.
84,681
968,755
Perseus Mining Ltd.
589,886
2,194,267
PLS Group Ltd. *
1,441,746
6,701,192
Premier Investments Ltd.
89,220
804,348
Qantas Airways Ltd.
387,284
2,630,464
Qube Holdings Ltd.
909,182
3,277,324
Ramelius Resources Ltd.
488,320
1,131,335
REA Group Ltd.
7,838
840,277
Reece Ltd. (a)
274,923
2,729,738
Region Group
608,078
993,153
Regis Resources Ltd.
455,263
2,004,678
Reliance Worldwide Corp. Ltd.
699,884
1,591,270
Resolute Mining Ltd. *
332,019
306,971
Sandfire Resources Ltd. *
176,874
2,498,130
SEEK Ltd.
137,694
1,229,469
Service Stream Ltd.
468,118
798,242
SGH Ltd.
81,203
2,407,133
Sigma Healthcare Ltd.
609,593
1,289,490
Sims Ltd.
371,798
7,174,583
Stanmore Resources Ltd.
583,039
1,153,616
Steadfast Group Ltd.
409,110
1,200,967
Super Retail Group Ltd.
201,723
1,702,489
Tabcorp Holdings Ltd.
2,750,241
1,523,675
TPG Telecom Ltd.
631,794
1,772,846
Treasury Wine Estates Ltd.
856,271
2,612,209
Ventia Services Group Pty. Ltd.
516,484
2,307,700
Vicinity Ltd.
2,052,698
3,736,598
Viva Energy Group Ltd.
323,186
492,969
West African Resources Ltd. *
120,556
274,966
Yancoal Australia Ltd.
176,667
860,548
 
151,229,865
 
Austria 0.7%
ANDRITZ AG
50,563
4,608,250
EVN AG
31,357
1,033,725
Kontron AG (a)
32,642
886,010
Lenzing AG *(a)
28,500
786,553
Mayr Melnhof Karton AG (a)
25,502
2,365,884
Oesterreichische Post AG
25,853
972,955
Palfinger AG
19,646
802,406
Strabag SE
21,140
2,346,052
Telekom Austria AG
94,903
1,086,428
UNIQA Insurance Group AG
83,199
1,666,048
Verbund AG
22,626
1,519,516
Vienna Insurance Group AG Wiener
Versicherung Gruppe
30,646
2,256,604
 
20,330,431
 
Belgium 1.0%
Ackermans & van Haaren NV
13,109
4,157,872
Aedifica SA
13,641
1,127,020
Azelis Group NV
188,824
2,171,531
Barco NV
73,443
788,479
Bekaert SA
67,946
3,282,588
Cofinimmo SA
14,791
1,435,198
Colruyt Group NV
60,782
2,353,442
Deme Group NV
4,937
1,068,132
D'ieteren Group
9,717
1,943,548
Elia Group SA
17,208
2,676,780
  
43

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Fagron
36,185
1,017,648
KBC Ancora
9,858
936,409
Lotus Bakeries NV
79
1,014,079
Melexis NV (a)
16,273
1,540,071
Ontex Group NV *(a)
131,650
400,203
Solvay SA
86,257
2,605,018
Tessenderlo Group SA
24,315
624,236
Titan SA
20,300
1,216,434
Viohalco SA
11,935
284,818
Warehouses De Pauw CVA
39,903
1,035,601
 
31,679,107
 
Canada 9.0%
ADENTRA, Inc.
4,203
100,624
Advantage Energy Ltd. *
152,718
1,078,688
Aecon Group, Inc.
112,210
3,671,231
Air Canada *
207,138
3,318,599
Alamos Gold, Inc., Class A
78,100
3,206,661
Algoma Steel Group, Inc. *
462,372
2,611,342
Allied Properties Real Estate Investment
Trust
158,872
1,159,060
Altus Group Ltd.
19,992
613,888
Aris Mining Corp. *
84,545
1,533,109
Aritzia, Inc. *
22,105
2,484,014
Athabasca Oil Corp. *
414,789
3,285,070
AtkinsRealis Group, Inc.
69,258
4,160,860
ATS Corp. *
51,928
1,606,977
Badger Infrastructure Solutions Ltd.
19,286
1,230,339
Baytex Energy Corp.
1,610,203
7,878,312
Birchcliff Energy Ltd.
435,498
2,035,939
Bird Construction, Inc.
40,727
1,708,550
Bombardier, Inc., Class B *
21,570
4,869,554
Boralex, Inc., Class A (a)
73,938
1,978,944
Boyd Group, Inc.
13,362
1,480,679
Brookfield Business Corp., Class A
50,498
1,660,967
Brookfield Infrastructure Corp.,
Class A (a)
103,104
4,290,168
Brookfield Renewable Corp. (a)
90,314
3,624,886
Brookfield Wealth Solutions Ltd. *
18,827
861,842
BRP, Inc.
52,291
3,025,366
CAE, Inc. *
132,105
3,422,618
Cameco Corp.
31,518
3,544,302
Canaccord Genuity Group, Inc.
96,164
913,089
Canada Goose Holdings, Inc. *
61,527
632,443
Canada Packers, Inc.
10,875
152,521
Canadian Apartment Properties REIT
88,761
2,259,055
Canadian Solar, Inc. *(a)
156,804
2,977,708
Canadian Utilities Ltd., Class A
116,250
4,185,692
Canfor Corp. *
277,530
2,846,720
Capstone Copper Corp. *
176,884
1,927,356
Cardinal Energy Ltd.
144,899
1,207,536
Cargojet, Inc.
16,968
1,062,879
Cascades, Inc.
261,150
2,079,645
Celestica, Inc. *
22,249
8,608,718
Centerra Gold, Inc.
247,000
4,364,255
CES Energy Solutions Corp.
206,643
2,598,132
Chartwell Retirement Residences
91,740
1,345,249
Chemtrade Logistics Income Fund
176,529
2,178,500
China Gold International Resources
Corp. Ltd.
110,696
2,121,436
Choice Properties Real Estate
Investment Trust
122,705
1,402,928
Cogeco Communications, Inc.
67,742
3,305,591
Colliers International Group, Inc.
16,291
1,538,690
Crombie Real Estate Investment Trust
98,794
1,207,717
Definity Financial Corp.
35,697
1,711,580
Descartes Systems Group, Inc. *
13,824
1,020,982
DPM Metals, Inc.
80,034
2,689,974
SECURITY
NUMBER
OF SHARES
VALUE ($)
Dream Industrial Real Estate Investment
Trust
110,939
1,129,080
E-L Financial Corp. Ltd.
27,545
340,126
Eldorado Gold Corp.
85,669
2,896,782
Enerflex Ltd.
136,347
3,412,758
Enghouse Systems Ltd.
31,726
414,784
EQB, Inc.
13,788
1,170,361
Equinox Gold Corp.
202,215
2,759,713
ERO Copper Corp. *
47,990
1,463,511
Exchange Income Corp.
35,725
3,150,169
First Capital Real Estate Investment
Trust
125,112
2,134,320
First Majestic Silver Corp.
89,729
1,896,779
FirstService Corp.
14,357
1,926,217
Fortuna Mining Corp. *
177,958
1,786,621
GFL Environmental, Inc.
68,996
2,316,979
Gibson Energy, Inc.
210,374
4,344,772
goeasy Ltd. (a)
12,510
365,161
Granite Real Estate Investment Trust
27,294
1,909,223
H&R Real Estate Investment Trust
322,476
2,425,212
Hudbay Minerals, Inc.
208,928
6,113,671
IAMGOLD Corp. *
179,773
3,254,719
IGM Financial, Inc.
65,521
3,736,583
International Petroleum Corp. *
65,682
1,664,591
Killam Apartment Real Estate
Investment Trust
54,820
729,846
Labrador Iron Ore Royalty Corp.
37,166
782,144
Lassonde Industries, Inc., Class A
3,780
606,836
Laurentian Bank of Canada
60,418
1,765,326
Leon's Furniture Ltd.
26,985
491,295
Lightspeed Commerce, Inc. *
28,455
274,728
Lionsgate Studios Corp. *
152,700
2,191,245
Lundin Gold, Inc.
3,958
264,480
Major Drilling Group International, Inc. *
20,264
251,544
Maple Leaf Foods, Inc.
82,199
1,786,533
Mullen Group Ltd.
152,547
2,414,086
NFI Group, Inc. *
93,837
1,580,355
North West Co., Inc.
61,539
2,312,710
Northland Power, Inc.
309,870
5,290,655
OceanaGold Corp.
96,587
2,919,591
Onex Corp.
14,320
1,144,311
OR Royalties, Inc.
23,098
861,512
Pan American Silver Corp.
102,335
5,848,669
Paramount Resources Ltd., Class A
103,966
2,276,980
Parex Resources, Inc.
321,068
5,605,376
Pason Systems, Inc.
85,132
918,342
Peyto Exploration & Development Corp.
123,342
2,223,209
Precision Drilling Corp. *
28,954
2,589,056
Premium Brands Holdings Corp.
47,809
3,156,841
RB Global, Inc.
38,106
4,057,208
Richelieu Hardware Ltd.
55,377
1,599,141
RioCan Real Estate Investment Trust
255,360
4,113,418
Russel Metals, Inc. (a)
121,048
5,486,724
Sagicor Financial Co. Ltd.
130,923
785,985
Secure Waste Infrastructure Corp.
282,300
4,160,060
Sienna Senior Living, Inc. (a)
51,706
794,986
SmartCentres Real Estate Investment
Trust
77,467
1,629,700
South Bow Corp.
41,201
1,483,481
Spartan Delta Corp. *
68,776
584,138
Spin Master Corp.
55,804
756,719
SSR Mining, Inc. *
175,247
5,481,756
Stantec, Inc.
41,721
3,154,932
Stella-Jones, Inc.
53,636
3,011,684
Superior Plus Corp.
417,267
2,541,374
Tamarack Valley Energy Ltd.
340,424
3,153,287
Teekay Tankers Ltd., Class A
28,608
2,012,573
TMX Group Ltd.
69,430
2,600,191
Torex Gold Resources, Inc.
66,596
3,056,295
44
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
TransAlta Corp.
255,782
3,648,591
Transcontinental, Inc., Class A
175,673
670,785
Trican Well Service Ltd.
63,793
345,465
Vital Infrastructure Property Trust
184,334
718,575
Winpak Ltd.
29,752
887,020
 
280,412,875
 
China 1.1%
Alibaba Health Information Technology
Ltd. *
1,910,343
884,802
Bosideng International Holdings Ltd.
4,547,985
2,466,243
Budweiser Brewing Co. APAC Ltd.
1,867,919
1,665,955
China Medical System Holdings Ltd.
1,207,870
1,630,549
China Water Affairs Group Ltd.
1,274,046
775,410
Chow Tai Fook Jewellery Group Ltd.
1,488,245
2,086,893
Deep Source Holdings Ltd. *
2,147,049
210,941
FIH Mobile Ltd. *
753,822
2,898,945
GCL Technology Holdings Ltd. *(a)
29,514,445
3,125,652
Hopson Development Holdings Ltd. *(b)
3,317,500
1,135,261
JOYY, Inc., ADR
61,932
4,176,075
KLN Logistics Group Ltd.
65,973
51,685
Lee & Man Paper Manufacturing Ltd.
3,194,529
1,235,030
Sino Biopharmaceutical Ltd.
4,609,525
2,934,842
Towngas Smart Energy Co. Ltd. *(a)
1,246,218
523,140
VSTECS Holdings Ltd.
1,345,792
1,655,324
Want Want China Holdings Ltd.
3,524,846
1,870,947
Xinyi Glass Holdings Ltd. (a)
2,752,334
3,476,677
 
32,804,371
 
Cyprus 0.1%
Frontline PLC
112,857
3,912,752
 
Denmark 1.3%
AL Sydbank
25,751
2,161,230
Alm Brand AS
666,088
1,563,216
Bavarian Nordic AS *
11,035
322,902
D/S Norden AS
80,108
3,705,009
Demant AS *(a)
57,799
2,258,062
Dfds AS *
101,971
2,342,166
FLSmidth & Co. AS
35,826
2,816,606
GN Store Nord AS *
165,917
2,545,634
H Lundbeck AS
295,829
2,005,667
Jyske Bank AS
22,606
3,240,371
Matas AS (a)
28,108
428,359
Netcompany Group AS *
19,385
1,039,428
NKT AS *
17,055
2,729,631
NTG Nordic Transport Group AS,
Class A *(a)
14,760
482,835
Per Aarsleff Holding AS
14,196
1,624,794
Ringkjoebing Landbobank AS
4,210
1,036,016
Rockwool AS, B Shares
74,548
2,355,998
Royal Unibrew AS
30,165
1,966,945
Scandinavian Tobacco Group AS,
A Shares
133,483
1,471,496
Schouw & Co. AS
16,055
1,662,081
Tryg AS
160,722
3,784,469
 
41,542,915
 
Faeroe Islands 0.0%
Bakkafrost P
10,502
521,279
 
Finland 1.2%
Amer Sports, Inc. *
7,396
263,150
Hiab OYJ, B shares
19,453
1,223,566
SECURITY
NUMBER
OF SHARES
VALUE ($)
Huhtamaki OYJ
115,667
3,698,385
Kalmar OYJ, B Shares
42,449
2,204,345
Kemira OYJ
134,197
2,793,764
Konecranes OYJ
112,199
3,710,573
Lumo Kodit OYJ
65,494
567,479
Mandatum OYJ
239,774
1,594,884
Metsa Board OYJ, B Shares *
411,903
1,410,286
Nokian Renkaat OYJ (a)
310,488
4,010,925
Olvi OYJ, Class A
14,483
538,295
Orion OYJ, B Shares
47,322
3,953,923
Sanoma OYJ
79,252
856,394
Terveystalo OYJ
96,168
912,375
Tieto OYJ
200,515
4,829,572
Tokmanni Group Corp. (a)
67,699
557,354
Valmet OYJ
135,705
3,683,475
YIT OYJ *
22,453
71,792
 
36,880,537
 
France 4.1%
Aeroports de Paris SA (a)
17,497
2,348,084
Air France-KLM *
257,342
3,524,081
Alten SA
43,713
3,315,707
Amundi SA
46,525
4,557,841
Atos SE *
18,774
878,523
Beneteau SACA
49,301
400,996
BioMerieux
20,931
1,816,030
Bollore SE
187,985
1,193,367
Canal & SA *
126,694
435,482
Carmila SA
50,369
980,418
Cie de L'Odet SE
766
1,280,041
Clariane SE *
702,421
3,431,222
Coface SA
99,850
1,741,973
Constellium SE, Class A *
259,861
8,902,838
Covivio SA
34,317
2,212,553
Criteo SA, ADR *
101,141
1,845,823
Dassault Aviation SA
3,704
1,317,462
Derichebourg SA
231,542
2,739,806
Edenred SE (a)
160,303
4,366,109
Eramet SA (a)
21,575
1,382,214
Eurazeo SE
9,168
497,485
Eutelsat Communications SACA *(a)
157,629
731,182
FDJ UNITED (a)
79,322
2,105,849
Fnac Darty SA
63,064
2,597,816
Gaztransport Et Technigaz SA
8,022
1,852,595
Gecina SA
25,794
2,210,867
Getlink SE (a)
112,846
2,470,422
ICADE *
69,154
1,699,526
ID Logistics Group SACA *
1,795
803,308
Imerys SA (a)
75,352
2,017,160
Ipsen SA
21,577
3,943,074
IPSOS SA
59,081
2,675,049
JCDecaux SE
108,727
2,390,399
Klepierre SA
105,787
4,323,153
Louis Hachette Group
65,812
129,868
Mercialys SA
59,168
818,886
Metropole Television SA
93,191
1,257,141
Nexans SA
29,066
5,372,700
Nexity SA *
210,635
2,016,793
Opmobility
138,224
2,688,878
Pierre Et Vacances SA *
266,007
604,071
Remy Cointreau SA
23,305
1,086,199
Sartorius Stedim Biotech
7,484
1,555,428
Societe BIC SA *
32,698
2,228,364
Societe LDC SADIR
545
77,590
SOITEC *
26,866
5,566,418
Sopra Steria Group
21,499
3,738,149
SPIE SA
79,332
4,526,988
Stef SA
4,336
592,008
  
45

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Television Francaise 1 SA
186,053
1,489,405
Trigano SA
10,429
1,972,776
Ubisoft Entertainment SA *(a)
225,580
1,483,097
Vallourec SACA *
185,451
5,176,575
Verallia SA (a)
67,197
1,573,015
Vicat SACA
27,332
2,018,958
Virbac SACA
2,502
1,046,715
Viridien *
3,686
517,886
Vivendi SE
535,173
1,467,622
 
127,993,985
 
Germany 3.4%
AIXTRON SE
52,583
3,573,706
Auto1 Group SE *
57,810
1,538,119
Bechtle AG *
94,222
3,674,607
Bilfinger SE
20,947
2,140,081
CANCOM SE
36,454
1,203,882
Carl Zeiss Meditec AG, Bearer Shares
35,695
1,078,012
Cewe Stiftung & Co. KGaA
5,862
701,852
CTS Eventim AG & Co. KGaA
9,469
686,748
Delivery Hero SE *(a)
58,914
2,542,363
Deutsche Pfandbriefbank AG
221,310
953,487
Deutz AG
186,662
2,280,629
Duerr AG
75,721
1,842,360
DWS Group GmbH & Co. KGaA
20,921
1,512,432
Fielmann Group AG
14,969
780,823
Fraport AG Frankfurt Airport Services
Worldwide
15,329
1,288,843
Freenet AG
31,428
927,141
Gerresheimer AG (a)
38,361
1,217,618
Grenke AG
29,311
444,658
Hella GmbH & Co. KGaA
6,818
578,420
HelloFresh SE *(a)
451,608
2,275,602
Hensoldt AG
9,252
954,637
HOCHTIEF AG
4,369
2,480,883
Hornbach Holding AG & Co. KGaA
19,384
1,825,446
HUGO BOSS AG
56,660
2,360,461
Indus Holding AG *
6,479
228,332
Jenoptik AG
51,272
2,752,265
JOST Werke SE
16,872
1,163,607
Kloeckner & Co. SE
467,317
6,816,693
Knorr-Bremse AG
37,487
4,536,402
Krones AG *
11,435
1,579,938
LEG Immobilien SE
36,746
2,390,601
Mutares SE & Co. KGaA (a)
19,852
646,339
Nemetschek SE
8,043
580,041
Nordex SE *
30,437
1,470,464
Rational AG
1,537
1,181,983
RENK Group AG
3,751
248,845
SAF-Holland SE
62,072
1,510,268
Salzgitter AG *
102,402
7,337,176
Schaeffler AG
74,928
923,337
Scout24 SE
17,351
1,462,900
Siltronic AG *(a)
29,427
3,595,380
Sixt SE
13,985
1,248,464
SMA Solar Technology AG *
5,558
426,448
Stabilus SE
47,973
1,064,779
Stroeer SE & Co. KGaA
26,679
1,175,584
Suedzucker AG
144,675
1,941,527
TAG Immobilien AG
91,314
1,514,201
Talanx AG
29,768
3,577,989
TeamViewer SE *
108,721
748,544
Traton SE *
101,758
4,008,881
TUI AG
299,976
2,474,902
United Internet AG
124,838
3,840,116
Wacker Chemie AG *(a)
43,361
5,024,590
SECURITY
NUMBER
OF SHARES
VALUE ($)
Wacker Neuson SE
36,349
808,477
Wuestenrot & Wuerttembergische AG
46,765
804,397
 
105,946,280
 
Guernsey 0.0%
Burford Capital Ltd. (a)
94,989
439,179
Sirius Real Estate Ltd.
182,743
242,141
 
681,320
 
Hong Kong 2.6%
ASMPT Ltd.
321,419
7,956,119
Bank of East Asia Ltd.
876,154
1,524,835
Brightoil Petroleum Holdings Ltd. *(b)
2,380,161
0
Cathay Pacific Airways Ltd.
1,211,377
2,055,696
CK Infrastructure Holdings Ltd.
119,879
907,803
Crystal International Group Ltd.
945,991
727,834
CTF Services Ltd.
862,915
888,525
Dah Sing Financial Holdings Ltd.
188,904
1,022,927
DFI Retail Group Holdings Ltd.
391,357
1,565,428
Fortune Real Estate Investment Trust
1,076,557
663,456
Futu Holdings Ltd., ADR
11,760
1,223,863
Galaxy Entertainment Group Ltd.
686,957
2,745,234
Grand Pharmaceutical Group Ltd. *
941,612
629,551
Hang Lung Group Ltd.
963,597
1,795,049
Hang Lung Properties Ltd.
1,283,674
1,316,858
Henderson Land Development Co. Ltd.
852,577
3,367,926
HK Electric Investments & HK Electric
Investments Ltd.
1,412,571
1,162,513
HKBN Ltd. (a)
1,459,977
1,233,196
Hongkong Land Holdings Ltd.
598,652
4,561,728
Hysan Development Co. Ltd.
498,095
1,185,275
Johnson Electric Holdings Ltd.
616,205
2,006,476
Kerry Properties Ltd.
777,625
2,057,818
Kingboard Laminates Holdings Ltd.
1,145,539
7,980,507
Luk Fook Holdings International Ltd.
534,502
1,426,721
Man Wah Holdings Ltd.
1,959,594
907,613
Melco Resorts & Entertainment Ltd.,
ADR *
203,249
1,130,064
MTR Corp. Ltd.
937,220
3,771,649
Nine Dragons Paper Holdings Ltd. *
4,485,845
3,811,944
PAX Global Technology Ltd. (a)
1,001,374
444,635
PCCW Ltd.
4,177,643
3,032,994
Sino Land Co. Ltd.
1,679,801
2,531,254
Skyworth Group Ltd. *
3,125,666
2,257,288
Stella International Holdings Ltd.
620,500
1,045,858
Swire Properties Ltd.
538,765
1,528,840
United Laboratories International
Holdings Ltd.
886,427
995,299
Vitasoy International Holdings Ltd.
636,843
491,604
VTech Holdings Ltd.
278,224
1,819,351
Wharf Holdings Ltd. (a)
515,538
1,458,983
Wharf Real Estate Investment Co. Ltd.
1,275,743
3,913,142
 
79,145,856
 
Indonesia 0.1%
First Pacific Co. Ltd.
3,213,514
2,095,217
 
Iraq 0.0%
United Energy Group Ltd.
4,714,435
276,704
 
Ireland 0.5%
Alkermes PLC *
31,255
1,318,648
Cairn Homes PLC
420,990
1,163,321
Cimpress PLC *
13,787
1,358,847
46
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Dole PLC
105,951
1,482,254
Glanbia PLC
198,872
4,841,056
Glenveagh Properties PLC *
476,361
1,267,428
Grafton Group PLC, CDI
256,210
2,866,820
Greencore Group PLC
701,820
1,920,418
Uniphar PLC
30,035
159,825
 
16,378,617
 
Isle Of Man 0.0%
Playtech PLC *
110,980
524,781
 
Israel 2.4%
Alony Hetz Properties & Investments
Ltd.
92,729
1,185,471
Azrieli Group Ltd.
6,942
1,159,621
Bezeq The Israeli Telecommunication
Corp. Ltd.
1,604,581
4,584,599
Cellcom Israel Ltd.
93,282
1,228,143
Clal Insurance Enterprises Holdings Ltd.
25,215
2,548,078
Delek Automotive Systems Ltd.
63,820
443,686
Delek Group Ltd.
11,439
3,536,326
Delta Galil Ltd.
10,825
606,226
Elbit Systems Ltd.
5,020
4,535,719
Elco Ltd.
10,485
553,899
Electra Ltd.
19,082
727,627
Equital Ltd. *
17,727
711,369
Etoro Group Ltd., Class A *
12,697
533,020
Fattal Holdings 1998 Ltd. *
3,639
1,108,529
FIBI Holdings Ltd.
16,064
1,778,618
First International Bank of Israel Ltd.
25,113
2,148,102
Formula Systems 1985 Ltd.
8,334
1,103,491
Fox Wizel Ltd.
1,089
122,051
Harel Insurance Investments & Financial
Services Ltd.
41,052
2,621,166
Inmode Ltd. *
65,033
905,910
Isracard Ltd.
159,155
728,374
Israel Corp. Ltd.
10,394
3,449,157
Migdal Insurance & Financial Holdings
Ltd. *
56,314
383,870
Mivne Real Estate KD Ltd.
172,206
886,384
Neto Malinda Trading Ltd.
1,821
106,787
Nice Ltd. *
18,621
1,661,207
Nice Ltd. ADR *(a)
15,296
1,417,327
Nova Ltd. *
2,810
1,411,547
Partner Communications Co. Ltd.
100,818
1,516,523
Paz Retail & Energy Ltd.
4,887
1,450,001
Phoenix Financial Ltd.
71,067
4,750,559
Plus500 Ltd.
64,911
3,877,859
Rami Levy Chain Stores Hashikma
Marketing 2006 Ltd.
6,539
926,696
Shikun & Binui Ltd. *
146,207
1,132,232
Shufersal Ltd.
146,788
2,553,586
Strauss Group Ltd.
34,185
1,477,901
Taboola.com Ltd. *
225,922
1,102,499
Tower Semiconductor Ltd. *
47,406
13,624,289
Wix.com Ltd. *
6,294
352,842
 
74,951,291
 
Italy 2.1%
ACEA SpA
45,722
1,214,366
Amplifon SpA
95,529
1,201,728
Azimut Holding SpA
88,220
3,587,748
Banca Generali SpA
27,082
1,728,702
Banca Mediolanum SpA
168,181
3,887,886
Banca Monte dei Paschi di Siena SpA
237,797
2,560,743
BFF Bank SpA *(a)
159,680
524,729
SECURITY
NUMBER
OF SHARES
VALUE ($)
Buzzi SpA
63,069
3,422,323
CIR SpA-Compagnie Industriali *
74,678
63,355
Danieli & C Officine Meccaniche SpA
9,665
830,103
De' Longhi SpA
52,306
2,177,853
DiaSorin SpA (a)
14,403
1,118,040
Enav SpA
184,870
1,163,885
ERG SpA (a)
43,181
1,155,948
FinecoBank Banca Fineco SpA
157,355
3,848,788
Hera SpA
649,088
2,920,739
Infrastrutture Wireless Italiane SpA
106,093
827,019
Interpump Group SpA
51,038
2,136,969
Iren SpA
806,537
2,522,384
Italgas SpA
358,617
4,212,081
Lottomatica Group SpA
47,237
1,401,232
Nexi SpA (a)
638,345
2,614,657
OVS SpA
204,780
1,338,220
Piaggio & C SpA (a)
259,053
524,494
Pirelli & C SpA
440,007
3,239,970
PRADA SpA
310,143
1,451,507
Recordati Industria Chimica e
Farmaceutica SpA
41,652
2,503,198
Reply SpA
10,944
1,314,146
Saipem SpA (a)
991,947
4,769,115
Salvatore Ferragamo SpA *
110,677
1,220,510
Sesa SpA
7,626
863,663
SOL SpA
14,798
975,671
Technogym SpA
43,920
912,806
Webuild SpA (a)
200,436
578,198
 
64,812,776
 
Japan 30.3%
& ST HD Co. Ltd.
54,015
1,106,156
77 Bank Ltd.
91,417
1,811,227
ABC-Mart, Inc.
95,840
1,584,590
Acom Co. Ltd.
370,514
1,088,104
Activia Properties, Inc. (a)
1,110
912,042
ADEKA Corp.
131,653
3,549,561
Advance Residence Investment Corp.
1,139
1,101,866
AEON Financial Service Co. Ltd.
161,449
1,531,428
AEON REIT Investment Corp.
1,174
905,630
Aica Kogyo Co. Ltd.
69,109
1,497,745
Aichi Steel Corp.
66,421
1,236,710
Ain Holdings, Inc.
44,293
1,531,154
Aisan Industry Co. Ltd.
61,512
736,490
ALSOK Co. Ltd.
408,292
2,887,975
Amano Corp.
59,645
1,339,099
Anritsu Corp.
138,077
3,943,942
AOKI Holdings, Inc.
54,592
562,415
Aoyama Trading Co. Ltd.
216,342
943,158
Aozora Bank Ltd.
83,515
1,401,010
Arata Corp.
105,621
1,716,449
ARCHION Corp. *(a)
1,199,276
2,644,299
ARCLANDS Corp.
103,566
1,239,357
Arcs Co. Ltd.
126,372
2,568,085
ARE Holdings, Inc.
108,918
2,309,179
Artience Co. Ltd.
65,154
1,714,902
As One Corp.
47,451
629,242
Asahi Intecc Co. Ltd.
69,647
1,647,658
Asics Corp.
141,035
4,290,675
ASKUL Corp. (a)
57,197
421,100
Autobacs Seven Co. Ltd.
139,619
1,304,187
Axial Retailing, Inc.
8,507
55,684
Azbil Corp.
338,213
3,532,126
BayCurrent, Inc.
31,167
1,099,528
Belc Co. Ltd.
20,196
786,577
Bic Camera, Inc.
167,610
1,872,043
BIPROGY, Inc.
70,097
2,020,259
Blue Zones Holdings Co. Ltd.
92,700
1,008,001
  
47

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
BML, Inc.
43,112
943,811
Bunka Shutter Co. Ltd.
69,985
824,749
Calbee, Inc.
104,091
1,898,865
Canon Marketing Japan, Inc.
131,204
2,935,792
Capcom Co. Ltd.
75,656
1,433,372
Casio Computer Co. Ltd.
336,279
3,780,208
CCI Group, Inc.
175,894
1,145,814
Chiba Bank Ltd.
272,751
3,985,293
Chudenko Corp.
36,864
1,128,915
Chugin Financial Group, Inc.
74,000
1,388,749
Chugoku Marine Paints Ltd.
33,206
700,874
Citizen Watch Co. Ltd.
333,820
4,854,534
CKD Corp.
69,795
2,876,156
Coca-Cola Bottlers Japan Holdings, Inc.
52,091
1,157,396
Colowide Co. Ltd. (a)
60,197
677,070
Cosmos Pharmaceutical Corp. (a)
58,881
2,223,711
Create SD Holdings Co. Ltd. (a)
45,830
922,703
Credit Saison Co. Ltd.
124,269
3,195,132
CyberAgent, Inc.
398,686
3,239,527
Daicel Corp.
412,400
3,455,880
Dai-Dan Co. Ltd.
72,196
1,201,831
Daido Steel Co. Ltd.
387,436
5,057,428
Daihen Corp.
19,880
1,979,383
Daiichi Jitsugyo Co. Ltd.
2,856
55,886
Daiichikosho Co. Ltd.
86,285
884,856
Daio Paper Corp.
277,395
1,651,928
Daiseki Co. Ltd.
36,525
925,802
Daishi Hokuetsu Financial Group, Inc.
124,281
1,577,031
Daiwa House REIT Investment Corp.
2,182
1,653,051
Daiwa Office Investment Corp. (a)
303
605,277
Daiwa Securities Living Investments
Corp.
1,025
652,899
DCM Holdings Co. Ltd.
203,360
1,865,102
DeNA Co. Ltd.
52,973
886,156
Denka Co. Ltd.
251,632
7,076,804
Dexerials Corp.
99,006
2,511,378
DMG Mori Co. Ltd.
146,590
3,172,326
Doshisha Co. Ltd.
6,490
120,594
Doutor Nichires Holdings Co. Ltd.
47,984
802,697
DTS Corp.
119,888
751,606
Duskin Co. Ltd.
48,739
1,229,267
DyDo Group Holdings, Inc.
27,909
470,380
Eagle Industry Co. Ltd.
42,362
753,623
Earth Corp.
24,926
735,927
EDION Corp.
236,143
3,515,666
Elecom Co. Ltd.
54,356
579,105
Exedy Corp.
59,816
2,344,694
Ezaki Glico Co. Ltd.
71,285
2,436,918
FCC Co. Ltd.
59,167
1,293,430
Ferrotec Corp.
60,140
3,282,974
Food & Life Cos. Ltd.
30,306
2,070,342
FP Corp.
59,769
897,342
Frontier Real Estate Investment Corp.
1,285
658,685
Fuji Co. Ltd.
70,521
885,555
Fuji Corp.
104,568
5,214,277
Fuji Media Holdings, Inc.
85,406
2,024,764
Fuji Oil Co. Ltd.
81,733
1,806,762
Fuji Seal International, Inc.
56,601
939,735
Fukuda Denshi Co. Ltd.
21,677
1,589,111
Fukuoka Financial Group, Inc.
92,141
3,794,688
Fukuyama Transporting Co. Ltd.
63,251
2,729,659
Furukawa Co. Ltd.
40,816
1,021,746
Furuno Electric Co. Ltd.
4,573
172,360
Fuyo General Lease Co. Ltd.
81,046
2,135,228
Glory Ltd.
81,151
2,083,958
GLP J-Reit
1,734
1,456,347
GMO internet group, Inc.
40,333
832,300
Goldwin, Inc.
68,630
909,663
GS Yuasa Corp.
166,781
6,872,815
SECURITY
NUMBER
OF SHARES
VALUE ($)
GungHo Online Entertainment, Inc.
65,986
924,359
Gunma Bank Ltd.
139,686
1,983,104
Gunze Ltd.
13,558
317,253
H.U. Group Holdings, Inc.
104,593
2,047,970
H2O Retailing Corp.
181,592
2,847,249
Hachijuni Nagano Bank Ltd.
152,920
2,231,985
Hakuhodo DY Holdings, Inc.
434,228
3,052,335
Hamakyorex Co. Ltd.
79,067
941,215
Hamamatsu Photonics KK
309,431
5,565,054
Happinet Corp.
49,221
858,020
Hazama Ando Corp.
215,212
2,435,482
Heiwa Corp.
70,710
862,610
Heiwado Co. Ltd.
91,051
1,427,051
Hikari Tsushin, Inc.
11,297
2,593,790
HI-LEX Corp.
5,512
85,836
Hirogin Holdings, Inc.
150,821
1,911,435
Hirose Electric Co. Ltd.
24,205
4,291,640
Hokkaido Electric Power Co., Inc. (a)
641,258
3,756,751
Hokuetsu Corp.
182,998
1,050,695
Hokuhoku Financial Group, Inc.
56,355
2,285,495
Hokuriku Electric Power Co. (a)
415,591
2,178,596
Horiba Ltd.
32,946
5,435,811
Hoshizaki Corp.
78,145
2,586,016
Hosiden Corp.
104,620
1,786,932
House Foods Group, Inc.
92,780
1,991,515
Hulic Co. Ltd.
365,544
3,901,371
Hyakugo Bank Ltd.
126,461
1,514,132
Ibiden Co. Ltd.
149,544
21,606,332
IDOM, Inc.
164,854
1,402,175
Iino Kaiun Kaisha Ltd.
111,356
1,100,339
Inaba Denki Sangyo Co. Ltd.
143,804
2,511,308
Inabata & Co. Ltd.
121,516
2,923,590
Industrial & Infrastructure Fund
Investment Corp.
1,125
990,797
INFRONEER Holdings, Inc.
357,710
5,509,799
Internet Initiative Japan, Inc.
103,872
2,024,065
Invincible Investment Corp.
2,005
772,074
Isetan Mitsukoshi Holdings Ltd.
67,720
1,444,671
Ishihara Sangyo Kaisha Ltd.
12,241
256,062
Ito En Ltd.
103,760
1,960,614
Itochu Enex Co. Ltd.
120,857
1,481,958
Itoham Yonekyu Holdings, Inc.
79,216
2,443,310
Itoki Corp.
9,685
156,174
Iyogin Holdings, Inc.
95,666
1,835,316
Izumi Co. Ltd.
364,707
2,052,751
J Front Retailing Co. Ltd.
225,066
3,065,162
Jaccs Co. Ltd.
37,518
822,525
JAFCO Group Co. Ltd.
67,958
962,443
Japan Airport Terminal Co. Ltd.
21,924
665,474
Japan Aviation Electronics Industry Ltd.
106,455
1,689,879
Japan Excellent, Inc.
694
612,520
Japan Exchange Group, Inc.
317,398
3,889,965
Japan Hotel REIT Investment Corp.
1,232
592,821
Japan Lifeline Co. Ltd.
54,981
458,319
Japan Logistics Fund, Inc.
1,134
654,655
Japan Metropolitan Fund Invest
3,357
2,372,401
Japan Petroleum Exploration Co. Ltd.
266,064
2,990,065
Japan Prime Realty Investment Corp.
1,807
1,079,501
Japan Pulp & Paper Co. Ltd.
20,887
152,464
Japan Real Estate Investment Corp.
3,064
2,199,982
Japan Steel Works Ltd.
31,824
1,533,126
Japan Wool Textile Co. Ltd. (a)
74,030
816,148
Jeol Ltd.
42,201
1,885,909
JGC Holdings Corp.
346,004
5,930,472
Joyful Honda Co. Ltd.
71,277
999,821
Juroku Financial Group, Inc.
111,130
1,477,172
JVCKenwood Corp.
233,018
1,628,447
Kadokawa Corp.
74,217
1,487,231
Kaga Electronics Co. Ltd.
93,887
2,609,774
48
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Kagome Co. Ltd.
83,286
1,347,727
Kakaku.com, Inc.
67,136
1,408,595
Kaken Pharmaceutical Co. Ltd.
40,040
1,001,063
Kamigumi Co. Ltd.
89,188
2,656,759
Kanadevia Corp.
317,700
2,770,071
Kanamoto Co. Ltd.
66,165
2,067,786
Kandenko Co. Ltd.
93,928
3,857,662
Kanematsu Corp.
285,719
3,872,346
Kansai Paint Co. Ltd.
229,381
3,530,989
Katitas Co. Ltd.
42,502
926,452
Kato Sangyo Co. Ltd.
61,839
2,272,493
KDX Realty Investment Corp.
1,105
1,103,681
Keihan Holdings Co. Ltd.
78,982
1,587,181
Keikyu Corp.
171,683
1,627,424
Keio Corp.
488,471
2,264,230
Keisei Electric Railway Co. Ltd.
259,858
1,780,923
Kewpie Corp. (a)
130,106
3,291,267
KH Neochem Co. Ltd.
16,514
288,183
Kinden Corp.
98,829
4,456,897
Kitz Corp.
117,879
1,656,482
Kiyo Bank Ltd.
32,361
861,930
Kobayashi Pharmaceutical Co. Ltd.
44,629
1,640,611
Kobe Bussan Co. Ltd.
66,701
1,135,916
Koei Tecmo Holdings Co. Ltd.
60,913
566,695
Kohnan Shoji Co. Ltd.
49,959
1,277,298
Kokusai Electric Corp.
69,235
3,571,133
Kokuyo Co. Ltd.
357,326
1,843,083
Komeri Co. Ltd.
63,553
1,383,323
Konami Group Corp.
27,775
3,302,850
Konoike Transport Co. Ltd.
46,834
800,523
Kose Holdings Corp. (a)
52,586
1,851,857
Kraftia Corp.
57,858
3,388,467
Kumagai Gumi Co. Ltd.
236,551
2,124,932
Kumiai Chemical Industry Co. Ltd. (a)
116,707
561,578
Kurabo Industries Ltd.
19,555
1,262,802
Kureha Corp.
72,508
1,778,653
Kurita Water Industries Ltd.
98,205
5,399,764
Kusuri No. Aoki Holdings Co. Ltd. (a)
40,002
871,204
KYB Corp.
69,487
1,765,657
Kyokuto Kaihatsu Kogyo Co. Ltd.
48,719
673,295
Kyoritsu Maintenance Co. Ltd.
38,796
610,978
Kyoto Financial Group, Inc.
73,813
2,048,996
Kyowa Kirin Co. Ltd.
199,570
3,140,416
Kyushu Financial Group, Inc.
211,614
1,837,116
Kyushu Railway Co.
126,643
2,801,914
Lasertec Corp.
10,256
2,585,422
Leopalace21 Corp.
245,170
959,488
Life Corp.
101,686
1,570,100
Lintec Corp.
72,304
2,611,646
Lion Corp.
294,758
2,998,684
M3, Inc.
184,767
1,652,794
Mabuchi Motor Co. Ltd.
218,981
2,134,236
Macnica Holdings, Inc.
239,734
4,683,540
Makino Milling Machine Co. Ltd.
21,969
1,827,185
Marui Group Co. Ltd.
105,402
1,806,248
Maruichi Steel Tube Ltd.
244,754
2,774,412
Maruwa Co. Ltd.
2,781
1,300,444
Maruzen Showa Unyu Co. Ltd.
18,279
880,708
Matsuda Sangyo Co. Ltd.
9,485
384,310
Max Co. Ltd.
88,852
925,972
McDonald's Holdings Co. Japan Ltd.
69,000
3,376,531
MCJ Co. Ltd.
115,350
1,579,641
Mebuki Financial Group, Inc.
429,493
3,586,977
Megmilk Snow Brand Co. Ltd.
139,102
3,053,970
Meidensha Corp.
40,606
2,568,644
Meiko Electronics Co. Ltd.
13,485
3,269,810
MEITEC Group Holdings, Inc.
67,170
1,271,331
Menicon Co. Ltd.
89,249
910,487
Milbon Co. Ltd.
27,252
454,000
SECURITY
NUMBER
OF SHARES
VALUE ($)
Mirait One Corp.
150,365
3,714,967
Mitsubishi Logistics Corp.
297,081
2,802,105
Mitsubishi Pencil Co. Ltd.
41,912
690,591
Mitsuboshi Belting Ltd.
31,538
780,575
Mitsui E&S Co. Ltd.
57,913
1,621,084
Mitsui Fudosan Accommodations Fund,
Inc.
930
735,517
Mitsui High-Tec, Inc.
146,642
941,442
Mitsui-Soko Holdings Co. Ltd.
67,491
1,632,690
Mitsuuroko Group Holdings Co. Ltd.
66,506
735,288
Miura Co. Ltd.
83,599
1,692,041
MIXI, Inc.
55,500
921,455
Mizuho Leasing Co. Ltd.
146,158
1,195,413
Mizuno Corp.
69,816
1,438,510
Mochida Pharmaceutical Co. Ltd.
31,295
678,232
Modec, Inc.
15,857
1,000,090
MonotaRO Co. Ltd. (a)
79,904
948,167
Morinaga & Co. Ltd.
94,825
1,484,116
Morinaga Milk Industry Co. Ltd.
143,055
4,372,797
Morita Holdings Corp.
43,659
675,221
Musashi Seimitsu Industry Co. Ltd.
83,753
4,977,093
Nabtesco Corp.
146,308
5,085,258
Nachi-Fujikoshi Corp.
9,246
336,873
Nagoya Railroad Co. Ltd. (a)
295,136
3,334,393
Nakanishi, Inc.
49,874
955,561
NANKAI Co. Ltd.
106,334
1,863,634
Nexon Co. Ltd.
178,683
2,514,291
Nextage Co. Ltd.
64,257
1,430,938
NHK Spring Co. Ltd.
270,757
6,104,321
Nichias Corp.
186,550
4,137,873
Nichicon Corp.
110,548
2,618,041
Nichiha Corp.
43,064
805,878
Nifco, Inc.
99,006
2,811,151
Nihon Kohden Corp.
210,269
1,911,296
Nihon M&A Center Holdings, Inc.
200,390
820,744
Nihon Parkerizing Co. Ltd.
106,175
994,453
Nikkiso Co. Ltd.
16,014
312,353
Nikkon Holdings Co. Ltd. (a)
81,685
3,044,394
Nippn Corp.
122,409
2,046,942
Nippon Building Fund, Inc.
3,262
2,610,584
Nippon Densetsu Kogyo Co. Ltd.
50,194
1,423,619
Nippon Electric Glass Co. Ltd.
110,946
4,552,417
Nippon Gas Co. Ltd.
86,251
1,500,277
Nippon Kayaku Co. Ltd.
216,903
2,905,620
Nippon Light Metal Holdings Co. Ltd.
218,516
4,344,514
Nippon Paint Holdings Co. Ltd.
619,579
4,111,974
Nippon Prologis REIT, Inc. (a)
2,658
1,424,257
Nippon Seiki Co. Ltd.
19,070
318,652
Nippon Shinyaku Co. Ltd.
94,280
2,488,035
Nippon Shokubai Co. Ltd.
238,562
3,093,109
Nippon Soda Co. Ltd.
57,316
1,312,374
Nippon Television Holdings, Inc.
124,393
2,218,820
Nipro Corp.
250,590
2,709,124
Nishimatsu Construction Co. Ltd.
45,220
1,542,462
Nishimatsuya Chain Co. Ltd.
68,984
846,320
Nishi-Nippon Financial Holdings, Inc.
67,467
1,675,338
Nishi-Nippon Railroad Co. Ltd.
117,872
2,085,103
Nissan Chemical Corp.
109,917
5,184,790
Nisshin Oillio Group Ltd.
157,528
1,734,698
Nisshinbo Holdings, Inc.
377,457
5,712,004
Nittetsu Mining Co. Ltd.
11,741
176,790
Nitto Boseki Co. Ltd.
15,404
2,193,660
Nitto Kogyo Corp.
37,772
1,121,130
NOF Corp.
157,461
2,764,643
Nojima Corp.
252,564
2,273,536
NOK Corp.
182,690
3,310,890
Nomura Co. Ltd.
108,320
741,685
Nomura Real Estate Holdings, Inc.
572,895
3,273,480
Nomura Real Estate Master Fund, Inc.
2,256
2,162,608
  
49

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Noritake Co. Ltd.
67,626
1,671,640
Noritz Corp.
6,051
86,361
North Pacific Bank Ltd.
196,377
1,200,294
NPR-RIKEN Corp.
4,673
113,603
NS Solutions Corp. (a)
49,630
1,086,504
NS United Kaiun Kaisha Ltd.
3,734
183,428
NSD Co. Ltd.
40,897
655,112
NTN Corp.
1,461,238
4,159,099
NTT UD REIT Investment Corp.
793
659,048
Obic Co. Ltd.
63,756
1,597,605
Odakyu Electric Railway Co. Ltd.
276,692
2,811,416
Okamura Corp.
99,613
1,446,732
Oki Electric Industry Co. Ltd.
40,879
910,334
OKUMA Corp. (a)
73,936
1,894,961
Okumura Corp.
45,840
1,615,443
Onward Holdings Co. Ltd.
48,142
219,858
Open House Group Co. Ltd.
73,162
3,973,608
Open Up Group, Inc.
65,058
756,878
Oracle Corp. Japan
17,800
963,519
Organo Corp.
9,850
987,537
Oriental Land Co. Ltd.
198,888
2,867,940
Orix JREIT, Inc.
2,610
1,575,608
Osaka Soda Co. Ltd.
70,624
834,054
OSG Corp. (a)
103,599
2,228,950
PALTAC Corp.
88,955
3,704,829
Park24 Co. Ltd.
118,181
1,378,246
Penta-Ocean Construction Co. Ltd.
342,121
3,822,239
Pigeon Corp.
148,832
1,745,520
Pilot Corp.
40,631
1,270,054
Pola Orbis Holdings, Inc.
135,049
1,093,100
Prima Meat Packers Ltd.
75,365
1,142,855
Raito Kogyo Co. Ltd.
54,260
1,385,558
Raiznext Corp.
7,229
101,494
Rakuten Group, Inc. *
142,712
668,153
Relo Group, Inc.
77,239
893,496
Resorttrust, Inc.
93,321
995,701
Ricoh Leasing Co. Ltd.
17,883
678,518
Rinnai Corp.
110,216
2,349,161
Rohto Pharmaceutical Co. Ltd.
148,882
2,226,824
Round One Corp.
108,841
618,491
Ryoyo Ryosan Holdings, Inc.
9,885
178,649
S&B Foods, Inc.
2,417
85,481
Saizeriya Co. Ltd.
24,866
834,126
Sakata INX Corp.
74,003
1,091,520
Sakata Seed Corp. (a)
32,737
849,324
San-A Co. Ltd.
71,613
1,396,811
San-Ai Obbli Co. Ltd.
167,302
2,232,235
Sangetsu Corp.
58,480
1,064,609
San-In Godo Bank Ltd.
103,542
1,341,838
Sanken Electric Co. Ltd. *(a)
21,435
1,223,972
Sanki Engineering Co. Ltd.
126,079
1,834,280
Sankyo Co. Ltd.
121,234
1,228,790
Sankyu, Inc.
9,585
540,635
Sanrio Co. Ltd.
38,228
205,608
Santen Pharmaceutical Co. Ltd.
350,595
4,218,636
Sanyo Chemical Industries Ltd.
6,290
207,046
Sanyo Denki Co. Ltd.
28,875
1,231,618
Sapporo Holdings Ltd.
202,054
2,021,936
Sawai Group Holdings Co. Ltd.
128,589
1,412,791
SBI Holdings, Inc.
97,034
1,773,786
SBS Holdings, Inc.
4,134
126,858
SCREEN Holdings Co. Ltd.
75,090
5,245,309
Sega Sammy Holdings, Inc.
156,482
2,271,196
Seibu Holdings, Inc.
89,217
1,580,170
Seiko Group Corp.
58,640
2,604,339
Seino Holdings Co. Ltd. (a)
225,220
3,853,881
Seiren Co. Ltd.
56,577
1,171,061
Sekisui House Reit, Inc.
1,910
983,856
Senko Group Holdings Co. Ltd.
189,691
2,271,788
SECURITY
NUMBER
OF SHARES
VALUE ($)
Seria Co. Ltd.
76,600
1,826,101
Seven Bank Ltd.
650,723
1,104,091
Sharp Corp. *
555,773
2,169,815
Shibuya Corp.
33,094
808,692
Shiga Bank Ltd.
79,242
996,561
Shikoku Electric Power Co., Inc.
317,850
2,911,146
Shinmaywa Industries Ltd.
96,601
1,340,484
Ship Healthcare Holdings, Inc.
119,326
1,566,252
Shizuoka Financial Group, Inc.
207,888
3,749,271
SHO-BOND Holdings Co. Ltd.
137,209
1,097,655
Showa Sangyo Co. Ltd.
7,329
146,405
SKY Perfect JSAT Corp.
103,659
2,910,709
Skylark Holdings Co. Ltd.
134,211
2,368,653
Socionext, Inc.
144,871
2,397,984
Sony Financial Group, Inc.
1,179,063
1,036,930
Sotetsu Holdings, Inc.
82,112
1,258,322
Square Enix Holdings Co. Ltd.
190,367
3,058,381
Stanley Electric Co. Ltd.
40,435
901,971
Starts Corp., Inc.
36,909
1,052,622
Sugi Holdings Co. Ltd.
136,131
2,353,795
Sumitomo Bakelite Co. Ltd.
84,198
3,649,514
Sumitomo Osaka Cement Co. Ltd.
72,430
2,474,695
Sumitomo Pharma Co. Ltd. *
114,075
1,163,036
Sumitomo Warehouse Co. Ltd.
59,565
1,463,026
Sundrug Co. Ltd.
110,898
2,526,711
Suruga Bank Ltd.
74,467
1,083,862
SWCC Corp.
21,215
1,977,703
T Hasegawa Co. Ltd.
31,090
600,551
Tadano Ltd.
201,131
1,615,972
Taihei Dengyo Kaisha Ltd.
64,699
1,120,111
Taikisha Ltd.
62,838
1,766,443
Taiyo Holdings Co. Ltd.
35,232
1,098,192
Taiyo Yuden Co. Ltd.
48,303
4,495,313
Takamatsu Construction Group Co. Ltd.
2,556
57,803
Takara Holdings, Inc.
252,289
3,529,415
Takara Standard Co. Ltd.
73,523
1,371,253
Takasago International Corp.
102,265
722,067
Takasago Thermal Engineering Co. Ltd.
67,071
1,992,454
Takashimaya Co. Ltd. (a)
379,708
4,753,804
Takeuchi Manufacturing Co. Ltd.
35,847
1,533,501
Takuma Co. Ltd.
70,301
1,499,290
TBS Holdings, Inc.
58,451
2,132,935
THK Co. Ltd.
124,735
5,986,402
TKC Corp.
26,674
574,733
Toa Corp.
62,400
918,811
Toagosei Co. Ltd.
155,030
1,713,033
Tocalo Co. Ltd.
52,366
1,026,333
Toda Corp.
284,318
2,779,955
Toei Co. Ltd.
19,554
724,723
Toenec Corp.
17,253
246,456
Toho Co. Ltd.
209,923
1,620,676
Toho Holdings Co. Ltd.
90,784
2,404,901
Tokai Carbon Co. Ltd.
482,421
5,394,242
TOKAI Holdings Corp.
192,390
1,335,454
Tokai Rika Co. Ltd.
123,784
2,278,329
Token Corp.
12,229
982,530
Tokuyama Corp.
140,259
4,499,672
Tokyo Century Corp.
231,965
3,441,807
Tokyo Kiraboshi Financial Group, Inc.
16,321
1,179,041
Tokyo Metro Co. Ltd.
170,857
1,569,150
Tokyo Ohka Kogyo Co. Ltd.
54,222
3,750,136
Tokyo Seimitsu Co. Ltd.
27,760
3,031,645
Tokyo Steel Manufacturing Co. Ltd.
167,594
1,848,703
Tokyo Tatemono Co. Ltd.
167,904
3,447,944
Tokyu Construction Co. Ltd.
20,348
151,341
Tomy Co. Ltd.
82,368
1,634,528
Topre Corp.
111,985
1,944,384
Toshiba TEC Corp.
50,510
999,475
Totetsu Kogyo Co. Ltd.
31,132
834,085
50
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Towa Pharmaceutical Co. Ltd.
36,100
895,754
Toyo Tire Corp.
170,000
4,048,433
Toyobo Co. Ltd.
24,321
276,531
Toyoda Gosei Co. Ltd.
134,766
4,086,409
Transcosmos, Inc.
47,976
1,172,352
Trend Micro, Inc.
83,263
3,143,480
Trusco Nakayama Corp.
84,061
1,171,753
TS Tech Co. Ltd.
188,822
2,143,952
TSI Holdings Co. Ltd. (a)
104,287
771,065
Tsubakimoto Chain Co.
129,049
2,190,404
Tsugami Corp.
11,702
464,581
Tsumura & Co.
69,188
1,655,922
Tsuruha Holdings, Inc.
59,444
736,188
TV Asahi Holdings Corp.
66,069
1,301,126
Tv Tokyo Holdings Corp.
23,083
546,661
UACJ Corp.
285,635
5,957,084
Ulvac, Inc.
57,891
3,456,223
Umios Corp.
383,685
3,053,765
United Super Markets Holdings, Inc.
279,607
1,433,252
United Urban Investment Corp. (a)
1,494
1,522,249
Ushio, Inc.
99,097
2,587,142
USS Co. Ltd.
179,317
1,979,707
UT Group Co. Ltd.
690,258
776,155
Valor Holdings Co. Ltd.
131,059
2,819,757
Wacoal Holdings Corp.
45,821
1,329,238
Wacom Co. Ltd.
159,770
849,082
Wakita & Co. Ltd.
17,592
186,761
World Co. Ltd.
22,504
210,635
YAMABIKO Corp.
61,941
1,523,331
Yamaguchi Financial Group, Inc.
88,604
1,525,342
Yamato Kogyo Co. Ltd.
24,901
1,843,447
Yamazen Corp.
140,844
1,536,818
Yellow Hat Ltd.
93,519
972,259
Yodoko Ltd.
140,156
1,112,866
Yokogawa Bridge Holdings Corp.
53,077
937,908
Yokohama Financial Group, Inc.
460,402
4,695,412
Yoshinoya Holdings Co. Ltd.
64,581
1,292,918
Yuasa Co. Ltd.
40,675
1,448,755
Yurtec Corp.
58,345
880,728
Zenkoku Hosho Co. Ltd.
61,759
1,151,071
Zensho Holdings Co. Ltd.
38,760
1,960,522
Zeon Corp.
236,598
3,254,170
ZOZO, Inc.
166,473
1,035,502
 
942,387,566
 
Jersey 0.3%
CVC Capital Partners PLC
46,760
749,745
International Workplace Group PLC
212,843
542,818
Man Group PLC
1,401,568
5,191,643
TP ICAP Group PLC
718,202
2,958,516
 
9,442,722
 
Luxembourg 0.4%
Allegro.eu SA *
158,402
1,520,472
Aroundtown SA *
660,496
1,960,828
Befesa SA
39,993
1,726,783
InPost SA *
64,502
1,156,156
RTL Group SA (a)
67,958
2,502,028
Samsonite Group SA
1,079,138
1,993,763
Spotify Technology SA *
3,156
1,570,678
Zabka Group SA *
55,018
388,884
 
12,819,592
 
Macau 0.0%
Sands China Ltd.
622,153
1,216,935
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Netherlands 1.9%
Adyen NV *
3,251
3,563,472
Arcadis NV
55,758
2,277,337
Argenx SE, ADR *
508
424,683
Basic-Fit NV *
37,928
1,364,980
BE Semiconductor Industries NV
14,787
4,907,517
Brembo NV
184,812
2,516,826
Cementir Holding NV
46,276
790,586
Corbion NV
69,504
1,633,508
CTP NV
44,389
841,228
Davide Campari-Milano NV
305,319
1,995,947
Eurocommercial Properties NV
28,232
960,356
Euronext NV
17,407
2,835,708
Ferrovial NV
53,321
3,652,486
Flow Traders Ltd. *
29,890
865,027
Fugro NV
180,214
2,384,810
Havas NV
19,793
391,502
Koninklijke BAM Groep NV
345,945
4,497,222
Koninklijke Heijmans NV
18,190
2,258,533
Koninklijke Vopak NV
45,236
2,415,585
MFE-MediaForEurope NV, Class A
538,753
1,902,439
MFE-MediaForEurope NV, Class B
142,873
626,555
OCI NV *(a)
319,484
1,394,353
Pepco Group NV
155,225
1,439,618
Qiagen NV
86,142
3,181,062
Redcare Pharmacy NV *
3,315
168,819
RHI Magnesita NV
23,462
944,025
Technip Energies NV
90,703
3,753,293
TKH Group NV
50,858
2,735,976
Van Lanschot Kempen NV
20,379
1,583,832
 
58,307,285
 
New Zealand 0.6%
a2 Milk Co. Ltd.
300,669
1,179,069
Air New Zealand Ltd.
2,565,653
675,865
Auckland International Airport Ltd.
248,610
1,230,930
Chorus Ltd.
258,762
1,510,477
Contact Energy Ltd.
481,523
2,750,265
EBOS Group Ltd.
141,513
1,653,809
Fisher & Paykel Healthcare Corp. Ltd.,
Class C
148,042
3,305,114
Freightways Group Ltd.
75,789
616,644
Genesis Energy Ltd.
845,474
1,270,525
Mercury NZ Ltd.
320,909
1,335,291
Meridian Energy Ltd.
629,942
2,213,848
SKYCITY Entertainment Group Ltd. *
1,433,509
429,121
Xero Ltd. *
15,055
814,247
 
18,985,205
 
Norway 2.0%
AF Gruppen ASA
33,597
675,200
Aker Solutions ASA
400,467
1,849,870
Atea ASA *
86,839
1,557,144
Austevoll Seafood ASA
131,657
1,264,507
Bluenord ASA *
19,702
1,115,747
Bonheur ASA
22,874
626,637
Borregaard ASA
53,368
825,207
BW Offshore Ltd.
13,558
67,458
DNO ASA
1,546,474
3,004,130
DOF Group ASA
104,529
1,353,698
Elkem ASA *
847,506
2,958,636
Europris ASA
143,206
1,435,906
Gjensidige Forsikring ASA
86,719
2,398,219
Hoegh Autoliners ASA
205,430
3,047,461
Kongsberg Gruppen ASA
62,068
2,231,980
Kongsberg Maritime AS *
62,214
392,879
  
51

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Leroy Seafood Group ASA
369,511
1,748,487
MPC Container Ships ASA
923,485
2,417,908
Norconsult Norge AS
192,477
743,006
Nordic Semiconductor ASA *
58,497
1,269,361
Norwegian Air Shuttle ASA
580,043
1,042,924
Odfjell Drilling Ltd.
106,739
1,014,779
Opera Ltd., ADR
54,019
1,014,477
Salmar ASA
35,764
2,224,794
Scatec ASA *
67,747
757,782
SFL Corp. Ltd.
176,537
1,948,968
SpareBank 1 Nord Norge
83,213
1,349,580
SpareBank 1 SMN
78,317
1,628,042
SpareBank 1 Sor-Norge ASA
129,635
2,695,114
Sparebanken Norge
78,959
1,627,025
Stolt-Nielsen Ltd.
43,466
1,381,375
Storebrand ASA
166,019
3,162,113
TGS ASA
252,803
4,133,452
TOMRA Systems ASA
107,106
1,126,125
Veidekke ASA
95,269
1,860,980
Wallenius Wilhelmsen ASA
353,350
4,541,607
 
62,492,578
 
Poland 1.1%
Alior Bank SA
52,943
1,840,390
Asseco Poland SA
46,627
2,532,957
Bank Millennium SA *
245,633
1,346,580
BNPP Bank Polska SA
1,868
74,476
Budimex SA
4,982
962,066
CD Projekt SA
11,638
747,418
Cyfrowy Polsat SA *
539,401
2,408,226
Dino Polska SA *
171,678
1,459,960
Enea SA
403,950
2,348,884
Erste Bank Polska SA
20,359
3,449,192
Eurocash SA *
257,594
376,953
Grupa Azoty SA *
163,368
1,039,262
Grupa Kety SA
7,118
2,374,108
Jastrzebska Spolka Weglowa SA *
338,888
2,621,802
KRUK SA
10,184
1,152,863
LPP SA
533
3,322,972
mBank SA *
4,587
1,621,116
Orange Polska SA
775,367
3,478,854
 
33,158,079
 
Portugal 0.4%
Banco Comercial Portugues SA, Class R
3,565,796
4,046,258
Navigator Co. SA (a)
319,077
1,266,724
NOS SGPS SA
340,806
2,093,909
REN - Redes Energeticas Nacionais
SGPS SA
466,206
1,925,898
Sonae SGPS SA
1,679,083
3,738,545
 
13,071,334
 
Republic of Korea 9.4%
Amorepacific Corp.
31,665
2,418,475
Amorepacific Holdings Corp.
85,612
1,300,939
Asiana Airlines, Inc. *
327,226
1,591,617
BGF retail Co. Ltd.
21,388
1,762,701
BH Co. Ltd.
63,209
1,285,571
Binggrae Co. Ltd.
12,278
591,495
Celltrion, Inc. *
24,147
3,090,880
Cheil Worldwide, Inc.
109,255
1,338,319
CJ ENM Co. Ltd. *
41,245
1,082,442
CJ Logistics Corp.
27,967
1,586,714
Coway Co. Ltd.
62,652
3,741,659
Daeduck Electronics Co. Ltd.
42,782
5,419,432
Daesang Corp.
68,739
878,053
SECURITY
NUMBER
OF SHARES
VALUE ($)
Daewoo Engineering & Construction Co.
Ltd. *
877,650
15,258,414
Daishin Securities Co. Ltd. *
33,516
680,551
Daou Technology, Inc.
52,727
1,383,778
DB HiTek Co. Ltd.
38,128
4,693,261
DL E&C Co. Ltd.
134,032
6,803,881
DL Holdings Co. Ltd. *
36,169
1,303,236
Dongjin Semichem Co. Ltd.
33,874
1,229,534
Dongwon Industries Co. Ltd.
26,200
617,187
Doosan Bobcat, Inc.
88,645
3,805,794
Doosan Co. Ltd.
5,968
7,809,486
DoubleDown Interactive Co. Ltd., ADR *
62,832
735,134
E1 Corp.
1,929
109,954
Ecopro BM Co. Ltd.
9,046
1,302,576
Ecopro Co. Ltd. *
24,560
2,265,322
F&F Co. Ltd.
20,233
978,756
Gravity Co. Ltd., ADR
9,413
605,538
GS Engineering & Construction Corp.
292,753
5,924,994
GS Retail Co. Ltd.
98,804
1,675,144
Hanon Systems *
537,868
2,009,421
Hansol Chemical Co. Ltd.
6,725
1,204,877
Hanwha Aerospace Co. Ltd.
2,987
2,324,984
Hanwha General Insurance Co. Ltd. *
45,055
188,950
Hanwha Life Insurance Co. Ltd. *
386,204
1,250,614
Hanwha Solutions Corp. *
40,166
1,115,426
Harim Holdings Co. Ltd.
452,737
3,388,768
HD Construction Equipment Co. Ltd.
41,482
4,170,221
HD Hyundai Electric Co. Ltd.
547
382,210
HD Hyundai Heavy Industries Co. Ltd.
873
403,190
HD Korea Shipbuilding & Offshore
Engineering Co. Ltd.
16,773
4,708,015
HDC Holdings Co. Ltd.
77,680
1,139,169
Hite Jinro Co. Ltd.
58,969
626,864
HL Mando Co. Ltd.
85,361
3,517,530
Hotel Shilla Co. Ltd. *
52,813
1,930,986
HS Hyosung Advanced Materials Corp.
7,383
1,031,268
HYBE Co. Ltd. *
3,573
521,606
Hyosung Heavy Industries Corp.
172
420,584
Hyosung TNC Corp.
13,784
3,324,807
Hyundai Department Store Co. Ltd.
25,812
1,880,662
Hyundai Elevator Co. Ltd.
13,224
691,474
Hyundai Green Food
62,829
697,081
Hyundai Home Shopping Network Corp.
1,050
56,437
Hyundai Marine & Fire Insurance Co.
Ltd. *
167,311
3,835,830
Hyundai Rotem Co. Ltd.
7,592
1,010,084
Hyundai Wia Corp.
68,946
4,163,295
iM Financial Group Co. Ltd.
314,636
3,620,297
Industrial Bank of Korea
248,509
3,331,043
IPARK Hyundai Development Co.,
Class E
84,535
1,152,750
JB Financial Group Co. Ltd.
160,044
2,538,190
Kakao Corp.
94,762
2,637,867
Kangwon Land, Inc.
70,849
706,610
KCC Corp.
7,845
2,863,139
KCC Glass Corp.
28,917
483,549
KEPCO Plant Service & Engineering Co.
Ltd.
23,069
780,703
KIWOOM Securities Co. Ltd.
7,386
1,815,868
Kolon Corp.
7,843
299,772
Kolon Industries, Inc.
78,866
3,757,517
Korea Aerospace Industries Ltd.
14,052
1,569,311
Korea Investment Holdings Co. Ltd.
26,954
4,247,893
Korea Petrochemical Ind Co. Ltd.
16,977
1,445,354
Korean Reinsurance Co.
233,983
1,995,144
Krafton, Inc. *
12,752
2,178,925
Kumho Tire Co., Inc. *
221,303
690,195
LF Corp.
58,405
872,006
52
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
LG CNS Co. Ltd.
13,027
983,724
LG Energy Solution Ltd. *
7,328
2,227,090
Lotte Chilsung Beverage Co. Ltd.
8,545
618,052
Lotte Corp.
87,529
1,478,177
LOTTE Fine Chemical Co. Ltd.
35,768
1,250,812
Lotte Rental Co. Ltd.
42,457
880,412
Lotte Shopping Co. Ltd.
57,206
5,606,719
LS Corp.
30,184
8,933,022
LS Electric Co. Ltd.
21,171
3,392,698
LX International Corp.
156,542
4,357,622
LX Semicon Co. Ltd.
32,903
1,148,439
Macquarie Korea Infrastructure Fund
170,297
1,238,524
Meritz Financial Group, Inc. *
43,445
2,966,483
Mirae Asset Securities Co. Ltd.
113,445
4,622,112
Misto Holdings Corp.
37,920
942,338
NC Corp.
18,762
3,604,246
Netmarble Corp.
18,011
507,941
NH Investment & Securities Co. Ltd.,
Class C
102,178
2,047,628
NHN Corp. *
38,591
1,303,439
NICE Holdings Co. Ltd. *
5,878
47,118
NongShim Co. Ltd.
4,937
1,261,277
OCI Holdings Co. Ltd.
20,667
4,793,044
Orion Corp.
23,381
2,010,735
Orion Holdings Corp.
75,945
1,262,390
Otoki Corp.
3,618
801,866
Pan Ocean Co. Ltd.
722,470
2,631,958
Poongsan Corp.
24,412
1,299,166
Posco International Corp.
87,880
3,720,467
S-1 Corp.
25,781
1,170,153
Samchully Co. Ltd.
1,867
154,365
Samsung Biologics Co. Ltd. *
633
572,514
Samsung E&A Co. Ltd.
245,478
8,616,978
Samsung Episholdings Co. Ltd. *
204
65,518
Samsung Heavy Industries Co. Ltd. *
88,306
1,637,792
Samsung Life Insurance Co. Ltd.
44,868
11,566,833
Samsung Securities Co. Ltd.
36,254
2,882,037
Samyang Biopharmaceuticals Corp. *
14,469
550,148
Samyang Holdings Corp.
15,828
597,620
SD Biosensor, Inc. *
128,598
663,897
SeAH Besteel Holdings Corp.
5,185
184,073
SeAH Steel Holdings Corp.
3,918
398,300
Seegene, Inc.
69,524
1,402,475
SFA Engineering Corp.
40,218
712,555
Shinsegae, Inc.
18,720
6,397,346
SIMMTECH Co. Ltd.
35,056
2,747,255
SK Chemicals Co. Ltd.
23,349
668,553
SK Discovery Co. Ltd.
31,721
1,037,721
SK Gas Ltd.
4,628
727,828
SK Networks Co. Ltd.
477,083
3,571,000
SKC Co. Ltd. *
11,379
1,051,821
SL Corp.
30,209
1,505,439
Soulbrain Co. Ltd.
4,260
1,081,254
Sungwoo Hitech Co. Ltd.
79,720
390,930
Taihan Cable & Solution Co. Ltd. *
74,941
2,260,165
WONIK IPS Co. Ltd.
28,194
1,983,121
Youngone Corp.
31,879
1,681,739
Youngone Holdings Co. Ltd.
11,215
1,425,131
Yuhan Corp.
14,921
841,596
 
290,734,979
 
Singapore 2.0%
BW LPG Ltd.
171,668
3,383,097
CapitaLand Ascendas REIT
1,521,669
2,982,846
CapitaLand Ascott Trust
1,413,305
991,812
CapitaLand Integrated Commercial Trust
1,680,860
2,991,769
CapitaLand Investment Ltd.
723,209
1,440,350
City Developments Ltd.
364,703
2,453,563
SECURITY
NUMBER
OF SHARES
VALUE ($)
ComfortDelGro Corp. Ltd.
3,000,104
3,034,566
Frasers Logistics & Commercial Trust *
1,796,453
1,408,596
Genting Singapore Ltd.
3,805,759
1,790,454
Grab Holdings Ltd., A Shares *
226,163
800,617
Hafnia Ltd.
407,914
3,151,493
Hutchison Port Holdings Trust, U Shares
11,193,743
2,294,717
IGG, Inc.
1,123,613
475,974
Jardine Cycle & Carriage Ltd.
106,395
2,469,355
Keppel Infrastructure Trust
4,101,058
1,704,286
Mapletree Industrial Trust
853,793
1,298,748
Mapletree Logistics Trust
1,426,152
1,341,892
Mapletree Pan Asia Commercial Trust
1,064,503
1,068,384
Netlink NBN Trust
1,297,094
1,011,964
SATS Ltd.
413,610
1,248,597
Sea Ltd., ADR *
31,933
2,890,895
Seatrium Ltd.
538,203
894,649
Sembcorp Industries Ltd.
508,611
2,548,339
Sheng Siong Group Ltd.
446,726
1,068,345
Singapore Exchange Ltd.
251,204
4,309,675
Singapore Post Ltd.
2,160,724
542,151
Singapore Technologies Engineering Ltd.
464,681
4,146,368
UOL Group Ltd.
371,497
2,956,596
Venture Corp. Ltd.
349,523
4,933,088
Yanlord Land Group Ltd.
137,600
75,524
 
61,708,710
 
Spain 1.4%
Abengoa SA, B Shares *(b)
192,522,094
0
Acciona SA
15,000
4,320,272
Atresmedia Corp. de Medios de
Comunicacion SA (a)
121,946
734,293
Bankinter SA
275,939
4,657,830
CIE Automotive SA
42,338
1,455,016
Colonial SFL Socimi SA
176,708
1,183,641
Construcciones y Auxiliar de
Ferrocarriles SA
16,891
1,229,963
Corp. ACCIONA Energias Renovables SA
35,846
967,121
Ebro Foods SA
59,433
1,248,396
EDP Renewables SA
131,286
2,170,903
EDP Renovaveis SA *(b)
1,275
21,083
Elecnor SA
30,754
1,475,012
Enagas SA
238,927
4,745,444
Faes Farma SA
151,763
824,399
Fluidra SA
55,378
1,217,504
Gestamp Automocion SA
398,951
1,517,712
Indra Sistemas SA
29,410
1,952,121
Linea Directa Aseguradora SA Cia de
Seguros y Reaseguros
609,849
849,726
Logista Integral SA
51,618
2,019,097
Merlin Properties Socimi SA
117,680
2,076,379
Puig Brands SA, Class B
44,854
844,282
Sacyr SA
490,848
2,664,642
Unicaja Banco SA
308,214
1,033,692
Vidrala SA
13,568
1,217,571
Viscofan SA
36,876
2,556,127
 
42,982,226
 
Sweden 3.2%
AAK AB
116,434
3,129,875
AcadeMedia AB
116,286
1,289,653
AddLife AB, B Shares
44,281
714,098
AddTech AB, B Shares
48,505
1,730,436
AFRY AB
115,382
1,429,583
Alleima AB
195,114
1,806,758
Ambea AB
66,119
1,076,293
Arjo AB, B Shares
278,665
743,650
Asmodee Group AB, Class B *
53,152
856,004
  
53

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Attendo AB
115,363
1,474,327
Avanza Bank Holding AB
21,456
804,723
Axfood AB
77,053
2,201,455
Beijer Ref AB, B Shares
130,354
1,816,972
Betsson AB, Class B
111,061
1,061,504
Bilia AB, A Shares
121,612
1,861,076
Billerud Aktiebolag (a)
379,074
2,516,691
Bravida Holding AB
206,229
2,539,543
Castellum AB
195,131
2,652,256
Coffee Stain Group AB, B Shares *(a)
62,878
131,773
Dometic Group AB *
582,070
2,027,387
Electrolux Professional AB, B Shares
111,011
582,512
Elekta AB, B Shares
422,192
2,455,442
Embracer Group AB *
113,666
866,167
EQT AB
80,317
2,779,225
Evolution AB *
59,703
4,505,570
Fabege AB
98,023
846,650
Fastighets AB Balder, B Shares *
172,258
989,155
Getinge AB, B Shares
179,840
3,697,791
Granges AB
131,311
2,707,781
Hexpol AB
265,397
2,099,721
Holmen AB, B Shares
70,197
2,335,529
Indutrade AB
98,953
2,073,745
Intrum AB *
127,319
277,990
Inwido AB
57,856
907,324
JM AB
112,265
1,459,053
Lagercrantz Group AB, B Shares
30,907
854,915
Lifco AB, B Shares
39,063
1,258,207
Lindab International AB
47,820
743,202
Loomis AB
74,237
3,667,931
MEKO AB
54,145
463,853
Mycronic AB
36,286
1,171,118
NCC AB, B Shares
125,711
2,664,462
New Wave Group AB, B Shares
63,115
680,828
Nibe Industrier AB, B Shares (a)
916,887
3,601,710
Nolato AB, B Shares
116,465
629,421
Norion Bank AB *
14,409
90,512
Peab AB, B Shares
255,917
2,516,694
Ratos AB, B Shares
307,844
1,159,593
Saab AB, B Shares
49,203
3,033,739
Sagax AB, B Shares
36,938
666,490
Samhallsbyggnadsbolaget i Norden
AB *(a)
2,322,689
861,080
Scandic Hotels Group AB
164,119
1,613,061
Sinch AB *
731,691
3,136,526
Svenska Cellulosa AB SCA, B Shares
247,652
2,730,455
Sweco AB, B Shares
102,595
1,500,049
Swedish Orphan Biovitrum AB *
63,396
3,036,169
Thule Group AB
74,832
1,768,429
Wihlborgs Fastigheter AB
97,476
898,406
 
99,194,562
 
Switzerland 3.3%
Accelleron Industries AG
16,628
1,652,479
Allreal Holding AG
6,279
1,683,561
ALSO Holding AG
9,270
2,199,601
Aryzta AG *
27,359
2,135,917
Avolta AG *
65,008
4,101,740
Banque Cantonale Vaudoise
10,415
1,566,216
Belimo Holding AG
2,053
2,172,946
Bell Food Group AG
3,332
750,537
Berner Kantonalbank AG
534
259,363
BKW AG
11,147
2,111,417
Bossard Holding AG, Class A
4,426
971,471
Bucher Industries AG
1,975
800,010
Burckhardt Compression Holding AG
1,176
778,130
Cembra Money Bank AG
15,593
1,895,866
Clariant AG *
402,064
4,129,473
SECURITY
NUMBER
OF SHARES
VALUE ($)
Comet Holding AG
2,882
1,369,167
Daetwyler Holding AG
4,077
827,558
DKSH Holding AG
51,092
4,054,142
dormakaba Holding AG
18,045
1,200,921
EFG International AG *
10,888
227,138
Emmi AG
1,825
2,015,710
EMS-Chemie Holding AG
2,987
2,727,618
Flughafen Zurich AG
5,962
1,808,401
Forbo Holding AG
1,260
1,206,220
Galderma Group AG *
10,872
2,317,440
Galenica AG
38,594
4,116,990
Georg Fischer AG
32,650
1,814,376
Helvetia Baloise Holding AG
25,815
6,706,911
Huber & Suhner AG
10,423
3,555,039
Implenia AG
4,261
332,111
Inficon Holding AG
6,327
1,319,896
Interroll Holding AG
461
984,127
Kardex Holding AG
2,244
775,427
Landis & Gyr Group AG *
30,120
1,950,562
Luzerner Kantonalbank AG
7,123
975,441
Mobimo Holding AG
1,983
900,960
OC Oerlikon Corp. AG Pfaffikon
402,045
1,965,588
On Holding AG, Class A *
21,570
880,487
PSP Swiss Property AG
9,212
1,754,330
SFS Group AG *
9,277
1,515,000
Siegfried Holding AG *
11,581
1,212,422
SIG Group AG *
236,775
3,660,641
Softwareone Holding AG *
115,328
1,235,420
St. Galler Kantonalbank AG
1,085
890,107
Stadler Rail AG
50,875
1,488,453
Straumann Holding AG
26,855
3,255,526
Sulzer AG
7,596
1,441,719
Swiss Prime Site AG
20,804
3,485,306
Swissquote Group Holding S.A.
14,110
715,116
Tecan Group AG
9,862
1,961,419
Temenos AG
18,701
1,616,756
Valiant Holding AG
7,331
1,491,814
VAT Group AG
5,636
4,405,796
Vontobel Holding AG
22,568
2,016,057
 
103,386,839
 
Taiwan 0.1%
FIT Hon Teng Ltd. *
2,329,005
2,644,773
 
United Kingdom 7.4%
4imprint Group PLC
24,507
1,205,088
AG Barr PLC
76,443
628,552
Airtel Africa PLC
1,127,170
5,357,296
Allfunds Group PLC
200,112
2,003,607
ARM Holdings PLC, ADR *
1,832
647,227
Ashmore Group PLC
419,269
1,175,520
Autotrader Group PLC
242,928
1,445,714
Babcock International Group PLC
206,297
3,049,127
Beazley PLC
241,657
4,172,751
Big Yellow Group PLC
68,121
769,942
Bodycote PLC
206,947
2,259,530
Breedon Group PLC
359,447
1,373,121
Bridgepoint Group PLC
76,973
280,141
Brightstar Lottery PLC
114,839
1,289,642
British Land Co. PLC
445,901
2,435,465
Chemring Group PLC
145,330
1,075,478
Clarkson PLC
22,241
1,389,862
Close Brothers Group PLC *
400,050
2,484,853
Coats Group PLC
1,380,254
1,520,040
Computacenter PLC
75,416
4,525,771
Convatec Group PLC
949,247
2,587,226
Cranswick PLC
49,484
3,661,939
54
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
CVS Group PLC
48,372
815,690
Derwent London PLC
58,016
1,390,444
Diploma PLC
29,618
2,790,660
Domino's Pizza Group PLC
450,181
1,129,902
Dr. Martens PLC
1,117,352
1,114,540
Dunelm Group PLC
95,125
1,000,787
easyJet PLC
575,718
3,088,637
Elementis PLC
474,292
981,999
Endava PLC, ADR *
78,029
251,253
Endeavour Mining PLC
63,726
3,996,435
Energean PLC
112,611
1,187,789
Frasers Group PLC *
174,086
1,810,397
Fresnillo PLC
65,103
2,883,650
Future PLC
97,300
430,977
Games Workshop Group PLC
10,043
2,688,541
Gamma Communications PLC
76,891
997,067
Genuit Group PLC
240,888
847,480
Genus PLC
32,613
1,023,405
Grainger PLC
330,201
703,695
Greggs PLC (a)
121,313
2,806,070
Halma PLC
91,403
5,768,539
Harbour Energy PLC
1,250,204
4,418,629
Helios Towers PLC *
104,737
331,209
Hikma Pharmaceuticals PLC
153,247
3,048,964
Hill & Smith PLC
51,520
1,923,666
Hilton Food Group PLC
143,604
995,923
Hiscox Ltd.
54,369
1,281,785
Howden Joinery Group PLC
389,855
4,035,880
Hunting PLC
221,076
1,387,188
Ibstock PLC
521,674
730,615
ICG PLC
144,463
3,635,590
IG Group Holdings PLC
273,193
6,610,099
IMI PLC
136,734
5,127,523
InterContinental Hotels Group PLC
28,961
4,464,338
International Personal Finance PLC
92,878
310,483
Ithaca Energy PLC
85,096
253,269
J D Wetherspoon PLC
96,376
825,579
James Halstead PLC (a)
288,767
506,017
JET2 PLC
128,863
2,072,252
Johnson Service Group PLC
388,839
801,404
Jupiter Fund Management PLC
128,123
279,089
Keller Group PLC
106,004
3,383,591
Kier Group PLC
680,977
1,901,937
Lancashire Holdings Ltd.
150,265
1,224,413
Land Securities Group PLC
454,719
3,855,384
Lion Finance Group PLC
17,629
2,640,071
LondonMetric Property PLC
306,284
783,187
Marshalls PLC
300,770
571,647
Mitchells & Butlers PLC *
292,765
927,387
Mitie Group PLC
1,191,343
2,868,086
MONY Group PLC
474,797
1,134,085
Morgan Advanced Materials PLC
473,469
1,467,889
Morgan Sindall Group PLC
39,504
2,418,589
Ninety One PLC
353,427
1,057,613
Ocado Group PLC *
300,732
903,979
OSB Group PLC
351,536
2,447,451
Oxford Instruments PLC
30,467
1,346,209
Pagegroup PLC
612,563
1,007,360
Paragon Banking Group PLC
136,257
1,407,813
Pennon Group PLC
493,838
3,434,853
Pets at Home Group PLC
755,773
1,958,027
Polar Capital Holdings PLC
99,190
1,123,107
Premier Foods PLC
558,352
1,518,809
Primary Health Properties PLC
820,716
1,038,248
QinetiQ Group PLC
347,964
2,361,608
Quilter PLC
1,574,451
4,117,227
Renew Holdings PLC
71,993
878,239
Renishaw PLC
20,542
1,467,549
Rightmove PLC
186,188
1,053,330
SECURITY
NUMBER
OF SHARES
VALUE ($)
Rotork PLC
481,495
1,989,930
RWS Holdings PLC
819,991
1,192,627
Safestore Holdings PLC
106,213
919,151
Savills PLC
166,844
1,871,147
Schroders PLC
708,411
5,576,633
Segro PLC
348,115
3,390,741
Senior PLC
417,817
1,619,190
Serica Energy PLC
487,342
1,640,968
Softcat PLC
56,774
1,329,301
Spirax Group PLC
40,422
3,795,010
Spire Healthcare Group PLC
317,566
946,020
SSP Group PLC
770,171
1,745,134
Tate & Lyle PLC
603,187
4,105,984
Telecom Plus PLC
60,749
822,142
THG PLC *
1,781,427
803,947
TORM PLC, Class A
100,863
2,782,895
Tritax Big Box REIT PLC
514,688
1,045,517
UNITE Group PLC
122,717
854,376
Vesuvius PLC
480,128
3,004,250
Victrex PLC
143,703
1,239,709
Vistry Group PLC *
444,634
1,672,172
Watches of Switzerland Group PLC *
321,193
3,125,915
Weir Group PLC
114,932
3,789,408
WH Smith PLC
140,741
939,074
Wickes Group PLC
41,235
98,604
Zegona Communications PLC
12,916
322,436
Zigup PLC
500,709
3,165,426
 
230,170,746
 
United States 0.6%
Atlassian Corp., Class A *
4,050
435,821
Carnival Corp. Ltd.
64,550
1,811,273
Diversified Energy Co. (a)
96,891
1,402,690
Garrett Motion, Inc.
90,745
2,972,806
Kulicke & Soffa Industries, Inc.
61,805
6,297,311
Nordic American Tankers Ltd.
61,604
317,261
SolarEdge Technologies, Inc. *
74,447
5,684,028
 
18,921,190
Total Common Stocks
(Cost $2,285,109,414)
3,073,746,280
PREFERRED STOCKS 0.4% OF NET ASSETS
 
Germany 0.3%
Draegerwerk AG & Co. KGaA
23,458
2,512,961
Jungheinrich AG
67,191
1,957,076
KSB SE & Co. KGaA
986
997,581
Sartorius AG
9,142
2,614,789
Sixt SE
18,653
1,382,212
STO SE & Co. KGaA
4,545
554,776
 
10,019,395
 
Italy 0.1%
Danieli & C Officine Meccaniche SpA -
RSP
29,081
1,696,803
 
Republic of Korea 0.0%
Daishin Securities Co. Ltd. *
27,698
380,457
Total Preferred Stocks
(Cost $9,731,339)
12,096,655
  
55

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
RIGHTS 0.0% OF NET ASSETS
 
United Kingdom 0.0%
Greencore Group PLC
CVR *(b)
466,519
5,660
Total Rights
(Cost $13,159)
5,660
WARRANTS 0.0% OF NET ASSETS
 
Italy 0.0%
Webuild SpA
expires 08/02/30 *(a)(b)
9,734
28,080
Total Warrants
(Cost $0)
28,080
 
 
 
SHORT-TERM INVESTMENTS 4.5% OF NET ASSETS
 
Money Market Funds 4.5%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)
5,645,327
5,645,327
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)(d)
134,534,664
134,534,664
 
140,179,991
Total Short-Term Investments
(Cost $140,179,991)
140,179,991
Total Investments in Securities
(Cost $2,435,033,903)
3,226,056,666
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
MSCI EAFE Index, expires
06/19/26
159
24,734,835
889,698
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Fair valued using significant unobservable inputs.
(c)
The rate shown is the annualized 7-day yield.
(d)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $127,257,287.
ADR —
American Depositary Receipt
CDI —
CHESS Depositary Interest
CVA —
Dutch Certificate
CVR —
Contingent Value Rights
REIT —
Real Estate Investment Trust
RSP —
Risparmio (Savings Shares)

The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks1
$2,918,813,827
$
$
$2,918,813,827
China
31,669,110
1,135,261
32,804,371
Hong Kong
79,145,856
0
*
79,145,856
Spain
42,961,143
21,083
*
42,982,226
Preferred Stocks1
12,096,655
12,096,655
Rights
United Kingdom
5,660
5,660
Warrants
Italy
28,080
28,080
56
  

Schwab Fundamental International Small Equity ETF
Portfolio Holdings (Unaudited) continued
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Short-Term Investments1
$140,179,991
$
$
$140,179,991
Futures Contracts2
889,698
889,698
Total
$3,225,756,280
$—
$1,190,084
$3,226,946,364
*
Level 3 amount shown includes securities determined to have no value.
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
  
57

Schwab Strategic Trust
Schwab Fundamental Emerging Markets Equity ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 94.7% OF NET ASSETS
 
Brazil 8.4%
Ambev SA
7,568,275
24,418,617
Axia Energia SA
1,298,919
13,463,747
B3 SA - Brasil Bolsa Balcao
4,505,267
14,696,316
Banco Bradesco SA
3,754,657
11,505,512
Banco do Brasil SA
11,590,323
46,515,274
Cia de Saneamento Basico do Estado de
Sao Paulo SABESP
2,435,485
13,457,713
Cia Energetica de Minas Gerais
932,135
2,950,354
Cia Paranaense de Energia - Copel
2,286,797
6,582,532
Cia Siderurgica Nacional SA *
8,635,589
11,455,617
Cosan SA *
5,115,095
3,842,743
Equatorial SA
1,748,985
13,329,519
Itau Unibanco Holding SA
810,080
6,415,682
Klabin SA
2,506,829
8,261,603
Localiza Rent a Car SA
1,186,343
9,855,311
MBRF Global Foods Co. SA
752,241
2,380,961
Natura Cosmeticos SA *
594,986
1,170,399
Petroleo Brasileiro SA - Petrobras
24,379,173
225,226,119
Suzano SA
1,839,771
15,243,526
Telefonica Brasil SA
1,837,021
12,282,640
Ultrapar Participacoes SA
4,805,428
24,577,206
Vale SA
17,779,127
291,104,997
Vibra Energia SA
8,040,756
47,292,019
 
806,028,407
 
Chile 0.4%
Banco de Chile
51,939,791
9,785,127
Cencosud SA
3,259,003
7,686,596
Empresas Copec SA
1,630,480
11,585,185
Enel Americas SA
63,950,671
5,605,012
Falabella SA
396,794
2,541,422
 
37,203,342
 
China 28.2%
Agricultural Bank of China Ltd., A Shares
9,176,600
8,577,467
Agricultural Bank of China Ltd.,
H Shares
55,221,355
40,654,709
Alibaba Group Holding Ltd.
16,917,510
260,970,087
Aluminum Corp. of China Ltd., A Shares
3,302,600
5,578,048
Aluminum Corp. of China Ltd., H Shares
8,139,990
11,320,832
Anhui Conch Cement Co. Ltd., A Shares
1,956,800
5,831,518
Anhui Conch Cement Co. Ltd., H Shares
5,645,202
13,707,122
ANTA Sports Products Ltd.
1,120,830
10,840,191
BAIC Motor Corp. Ltd., H Shares *
36,708,022
5,667,276
Baidu, Inc., A Shares *
3,476,246
57,660,956
Bank of Beijing Co. Ltd., A Shares
10,452,100
7,868,311
Bank of China Ltd., A Shares
5,271,400
4,568,606
Bank of China Ltd., H Shares
171,661,790
114,114,110
Bank of Communications Co. Ltd.,
A Shares
9,817,600
9,670,295
Bank of Communications Co. Ltd.,
H Shares
20,537,687
19,129,445
BOE Technology Group Co. Ltd.,
A Shares
18,520,200
13,996,735
BYD Co. Ltd., A Shares
254,000
3,613,089
SECURITY
NUMBER
OF SHARES
VALUE ($)
BYD Co. Ltd., H Shares
1,781,793
20,756,590
CGN Power Co. Ltd., A Shares
2,220,200
1,503,896
CGN Power Co. Ltd., H Shares
20,762,670
8,212,453
China CITIC Bank Corp. Ltd., A Shares
1,888,100
2,071,997
China CITIC Bank Corp. Ltd., H Shares
25,883,946
24,076,092
China Coal Energy Co. Ltd., A Shares
751,897
1,743,671
China Coal Energy Co. Ltd., H Shares
6,873,887
11,086,066
China Construction Bank Corp.,
A Shares
3,477,800
5,122,997
China Construction Bank Corp.,
H Shares
211,096,300
228,673,742
China Everbright Bank Co. Ltd.,
A Shares
15,942,500
7,309,342
China Everbright Bank Co. Ltd.,
H Shares (a)
32,090,753
12,488,427
China Hongqiao Group Ltd.
5,928,986
21,197,105
China Life Insurance Co. Ltd., A Shares
78,200
391,263
China Life Insurance Co. Ltd., H Shares
4,036,300
14,873,344
China Mengniu Dairy Co. Ltd.
7,539,617
16,315,603
China Merchants Bank Co. Ltd.,
A Shares
3,678,200
20,677,278
China Merchants Bank Co. Ltd.,
H Shares
6,464,297
38,848,137
China Minsheng Banking Corp. Ltd.,
A Shares
25,524,800
13,401,421
China Minsheng Banking Corp. Ltd.,
H Shares
36,258,367
15,544,455
China National Building Material Co.
Ltd., H Shares
44,813,388
30,361,994
China Pacific Insurance Group Co. Ltd.,
A Shares
790,100
3,760,350
China Pacific Insurance Group Co. Ltd.,
H Shares
4,102,145
16,445,428
China Petroleum & Chemical Corp.,
A Shares
12,870,600
9,232,104
China Petroleum & Chemical Corp.,
H Shares
166,365,480
91,701,186
China Railway Group Ltd., A Shares
9,259,500
6,532,299
China Railway Group Ltd., H Shares
26,309,555
11,782,803
China Resources Land Ltd.
8,269,142
37,265,687
China Shenhua Energy Co. Ltd.,
A Shares
760,100
5,274,592
China Shenhua Energy Co. Ltd.,
H Shares
6,909,826
39,744,680
China State Construction Engineering
Corp. Ltd., A Shares
24,125,000
17,233,545
China Tower Corp. Ltd., H Shares
11,051,086
13,987,646
China United Network Communications
Ltd., A Shares
13,749,100
8,845,526
China Vanke Co. Ltd., A Shares *
15,149,000
7,953,760
China Vanke Co. Ltd., H Shares *(a)
24,987,228
8,640,032
China Yongda Automobiles Services
Holdings Ltd.
28,060,013
2,756,808
China Zheshang Bank Co. Ltd., H Shares
7,723,000
2,384,676
CITIC Securities Co. Ltd., A Shares
1,681,800
6,479,511
CITIC Securities Co. Ltd., H Shares
1,608,857
5,345,476
CMOC Group Ltd., H Shares
1,068,000
2,486,922
Contemporary Amperex Technology Co.
Ltd., A Shares
58,900
3,693,527
58
  

Schwab Fundamental Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
COSCO SHIPPING Holdings Co. Ltd.,
A Shares
4,393,000
9,186,938
COSCO SHIPPING Holdings Co. Ltd.,
H Shares (a)
11,753,503
21,250,305
Country Garden Services Holdings Co.
Ltd.
1,552,000
1,152,505
CRRC Corp. Ltd., A Shares
3,681,400
3,141,586
CRRC Corp. Ltd., H Shares
8,509,509
5,635,077
Daqo New Energy Corp., ADR *
473,030
7,871,219
ENN Energy Holdings Ltd.
2,158,155
15,117,604
Geely Automobile Holdings Ltd.
8,998,566
21,608,316
Gree Electric Appliances, Inc. of Zhuhai,
A Shares
1,668,000
9,662,951
Haier Smart Home Co. Ltd., A Shares
1,337,000
4,128,783
Haier Smart Home Co. Ltd., H Shares
5,694,245
14,312,990
Hello Group, Inc., ADR
890,694
5,308,536
Huaneng Power International, Inc.,
A Shares
1,578,000
2,070,097
Huaneng Power International, Inc.,
H Shares
10,922,781
10,132,010
Industrial & Commercial Bank of China
Ltd., A Shares
8,076,700
8,624,448
Industrial & Commercial Bank of China
Ltd., H Shares
144,956,578
122,810,075
Industrial Bank Co. Ltd., A Shares
8,562,100
23,426,758
iQIYI, Inc., ADR *
6,394,746
7,290,010
JD Logistics, Inc. *
1,949,400
3,206,135
JD.com, Inc., ADR
4,598,654
132,579,195
Jiangxi Copper Co. Ltd., A Shares
878,000
5,648,640
Jiangxi Copper Co. Ltd., H Shares
5,989,753
26,901,690
JinkoSolar Holding Co. Ltd., ADR
395,427
9,217,403
KE Holdings, Inc., ADR
848,701
14,088,437
Kunlun Energy Co. Ltd.
18,586,438
16,979,980
Kweichow Moutai Co. Ltd., A Shares
46,900
9,197,643
Li Ning Co. Ltd.
4,573,317
10,620,151
Longfor Group Holdings Ltd.
15,625,079
15,650,199
Lufax Holding Ltd., ADR *
3,831,933
6,322,689
Meituan, B Shares *
2,493,671
23,370,012
Midea Group Co. Ltd., A Shares
1,458,000
17,434,027
NetEase, Inc.
1,211,451
30,002,633
PDD Holdings, Inc., ADR *
457,965
38,670,565
PetroChina Co. Ltd., A Shares
6,395,200
10,281,201
PetroChina Co. Ltd., H Shares
86,120,078
119,663,109
PICC Property & Casualty Co. Ltd.,
H Shares
14,223,253
26,405,228
Ping An Bank Co. Ltd., A Shares
6,045,700
9,772,978
Ping An Insurance Group Co. of China
Ltd., A Shares
3,769,100
29,823,019
Ping An Insurance Group Co. of China
Ltd., H Shares
13,983,921
107,144,519
Poly Developments & Holdings Group
Co. Ltd., A Shares
6,310,600
5,385,259
Postal Savings Bank of China Co. Ltd.,
A Shares
4,586,000
3,377,719
Postal Savings Bank of China Co. Ltd.,
H Shares
23,638,896
15,141,151
Shanghai Pudong Development Bank
Co. Ltd., A Shares
11,103,000
15,386,509
Shenzhou International Group Holdings
Ltd.
1,040,931
6,165,312
Sinopharm Group Co. Ltd., H Shares
9,084,267
19,611,835
Sunac China Holdings Ltd. *(a)
34,575,165
4,190,983
Tencent Holdings Ltd.
2,663,445
145,178,720
Trip.com Group Ltd. *
56,350
2,651,629
Vipshop Holdings Ltd., ADR
1,796,130
25,540,969
Weichai Power Co. Ltd., A Shares
1,739,900
9,093,917
Weichai Power Co. Ltd., H Shares
3,853,056
20,471,234
Xiaomi Corp., B Shares *
8,099,410
28,977,398
SECURITY
NUMBER
OF SHARES
VALUE ($)
Yankuang Energy Group Co. Ltd.,
A Shares
928,455
2,993,488
Yankuang Energy Group Co. Ltd.,
H Shares
9,632,900
17,895,606
Zhongsheng Group Holdings Ltd.
7,443,061
5,850,059
Zijin Mining Group Co. Ltd., A Shares
1,901,300
8,559,639
Zijin Mining Group Co. Ltd., H Shares
4,339,416
18,149,649
ZTO Express Cayman, Inc.
486,497
10,782,215
 
2,711,084,180
 
Colombia 0.3%
Ecopetrol SA, ADR
1,413,282
20,648,050
Grupo Cibest SA
244,415
5,070,089
 
25,718,139
 
Czech Republic 0.1%
CEZ AS
209,331
12,630,535
 
Greece 0.3%
Alpha Bank SA
638,709
2,914,284
Eurobank SA
579,603
2,699,383
Motor Oil Hellas Corinth Refineries SA
296,240
12,783,881
National Bank of Greece SA
691,534
11,963,558
Piraeus Bank SA *
246,097
2,627,723
 
32,988,829
 
Hong Kong 2.6%
BOC Hong Kong Holdings Ltd.
4,012,275
24,542,382
China Everbright Environment Group
Ltd.
14,760,068
10,037,916
China Overseas Land & Investment Ltd.
20,074,052
40,007,744
China Resources Power Holdings Co.
Ltd.
5,762,547
15,631,683
China Taiping Insurance Holdings Co.
Ltd.
4,058,893
10,290,428
CITIC Ltd.
31,769,118
53,344,425
CSPC Pharmaceutical Group Ltd.
11,356,774
10,867,865
Lenovo Group Ltd.
22,842,828
69,950,222
Orient Overseas International Ltd. (a)
703,467
12,216,023
Sinotruk Hong Kong Ltd.
526,000
2,500,671
 
249,389,359
 
Hungary 0.6%
MOL Hungarian Oil & Gas PLC
2,619,236
33,271,623
OTP Bank Nyrt
176,088
24,126,673
 
57,398,296
 
India 8.6%
Axis Bank Ltd.
1,892,995
25,637,130
Bajaj Finserv Ltd.
447,274
8,397,452
Bank of Baroda
899,775
2,543,048
Bharat Petroleum Corp. Ltd.
7,205,963
22,611,553
Bharti Airtel Ltd.
1,268,257
24,417,285
Coal India Ltd.
3,299,557
15,903,865
GAIL India Ltd.
7,538,336
13,054,017
Grasim Industries Ltd.
448,904
14,754,293
HCL Technologies Ltd.
1,006,331
12,539,944
HDFC Bank Ltd.
5,369,440
42,082,279
Hindalco Industries Ltd.
3,339,039
39,601,002
Hindustan Petroleum Corp. Ltd.
3,781,416
15,676,955
Hindustan Unilever Ltd.
402,849
9,131,951
ICICI Bank Ltd.
3,042,407
40,236,633
Indian Oil Corp. Ltd.
12,782,458
18,869,599
  
59

Schwab Fundamental Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
IndusInd Bank Ltd. *
1,032,692
9,939,389
Infosys Ltd.
3,530,922
43,147,867
ITC Ltd.
6,867,497
20,739,841
JSW Steel Ltd.
1,061,690
14,282,524
Kotak Mahindra Bank Ltd.
3,103,346
12,550,585
Larsen & Toubro Ltd.
624,433
26,794,749
Mahindra & Mahindra Ltd.
476,199
15,266,439
Malco Energy Ltd. *(b)
3,439,294
1,631,311
Maruti Suzuki India Ltd.
88,779
12,267,389
NTPC Ltd.
6,603,384
26,893,150
Oil & Natural Gas Corp. Ltd.
11,789,090
32,934,995
Power Finance Corp. Ltd.
3,182,179
14,356,652
Power Grid Corp. of India Ltd.
4,912,687
15,025,065
Rajesh Exports Ltd. *
6,694,544
8,338,583
Reliance Industries Ltd.
5,549,496
77,178,885
Shriram Finance Ltd.
1,162,631
11,591,431
State Bank of India
2,879,945
29,235,989
Steel Authority of India Ltd.
5,955,902
12,812,713
Sun Pharmaceutical Industries Ltd.
487,191
9,226,885
Talwandi Sabo Power Ltd. *(b)
3,439,294
1,049,166
Tata Consultancy Services Ltd.
879,587
20,914,727
Tata Motors Ltd. *
1,333,128
5,325,496
Tata Motors Passenger Vehicles Ltd.
3,654,439
15,152,458
Tata Steel Ltd.
17,590,952
38,518,630
Tech Mahindra Ltd.
658,278
10,282,302
Vedanta Aluminium Metal Ltd. *(b)
3,439,294
13,895,110
Vedanta Iron & Steel Ltd. *(b)
3,439,294
950,331
Vedanta Ltd.
3,439,294
12,765,211
Wipro Ltd.
4,187,670
9,003,490
 
827,528,369
 
Indonesia 1.0%
Alamtri Resources Indonesia Tbk. PT
76,850,548
9,891,229
Astra International Tbk. PT
57,594,373
16,114,822
Bank Central Asia Tbk. PT
31,221,973
9,958,883
Bank Mandiri Persero Tbk. PT
61,558,532
14,054,774
Bank Rakyat Indonesia Persero Tbk. PT
111,558,732
18,416,243
Telkom Indonesia Persero Tbk. PT,
Class B
136,959,500
23,222,568
United Tractors Tbk. PT
6,628,201
8,503,162
 
100,161,681
 
Kuwait 0.5%
Kuwait Finance House KSCP
5,927,718
14,943,827
Mobile Telecommunications Co. KSCP
5,809,483
11,228,412
National Bank of Kuwait SAKP
6,247,573
17,183,855
 
43,356,094
 
Malaysia 0.9%
Axiata Group Bhd.
12,712,772
6,412,495
CIMB Group Holdings Bhd.
7,300,024
13,771,546
Malayan Banking Bhd.
7,457,758
20,012,748
Public Bank Bhd.
13,294,100
15,791,983
Sime Darby Bhd.
18,837,700
9,882,072
Tenaga Nasional Bhd.
5,128,200
18,469,280
 
84,340,124
 
Mexico 3.8%
America Movil SAB de CV, Series B
51,749,101
65,593,018
Cemex SAB de CV, Series CPO
38,546,336
50,747,672
Fomento Economico Mexicano SAB de
CV
4,341,577
51,733,040
Grupo Bimbo SAB de CV, Series A
3,328,682
11,457,794
Grupo Comercial Chedraui SA de CV
1,462,700
8,218,169
SECURITY
NUMBER
OF SHARES
VALUE ($)
Grupo Financiero Banorte SAB de CV,
O Shares
4,253,992
44,350,466
Grupo Mexico SAB de CV, Series B
5,145,222
63,863,720
Grupo Televisa SAB, Series CPO *
24,994,554
13,419,063
Orbia Advance Corp. SAB de CV *
8,306,383
11,247,012
Sigma Foods SAB de CV, A Shares
14,117,994
13,506,614
Wal-Mart de Mexico SAB de CV
8,623,837
26,059,072
 
360,195,640
 
Netherlands 0.2%
JBS NV, BDR
1,661,290
20,034,536
 
Qatar 0.5%
Ooredoo QPSC
2,309,481
8,499,601
Qatar Fuel QSC
2,172,298
8,364,630
Qatar Islamic Bank QPSC
1,104,444
6,909,979
Qatar National Bank QPSC
4,589,186
22,435,460
 
46,209,670
 
Russia 0.0%
Alrosa PJSC *(b)(c)
49,456
0
Federal Grid Co-Rosseti PJSC *(b)(c)
19,817,058
0
Gazprom PJSC *(b)(c)
197,560
0
GMK Norilskiy Nickel PAO *(b)(c)
54,400
0
Inter RAO UES PJSC *(b)(c)
1,590,272
0
LUKOIL PJSC *(b)(c)
15,008
0
Magnit PJSC *(b)(c)
2,064
0
Mobile TeleSystems PJSC *(b)(c)
26,384
0
Novatek PJSC *(b)(c)
5,557
0
Novolipetsk Steel PJSC *(b)(c)
21,760
0
Rosneft Oil Co. PJSC *(b)(c)
28,418
0
Sberbank of Russia PJSC *(b)(c)
90,000
0
Severstal PAO *(b)(c)
3,392
0
Sistema AFK PAO *(b)(c)
127,904
0
Tatneft PJSC *(b)(c)
45,568
0
 
0
 
Saudi Arabia 2.1%
Al Rajhi Bank
882,709
15,666,050
Riyad Bank
1,621,860
8,704,434
Saudi Arabian Mining Co. *
576,556
9,548,834
Saudi Arabian Oil Co.
9,604,466
71,407,718
Saudi Basic Industries Corp.
2,425,528
36,971,753
Saudi Energy Co.
2,732,982
12,271,691
Saudi National Bank
1,849,819
19,421,966
Saudi Telecom Co.
2,613,875
30,676,079
 
204,668,525
 
South Africa 5.2%
Absa Group Ltd.
1,887,146
27,632,914
Bid Corp. Ltd.
544,875
13,690,257
Bidvest Group Ltd.
768,934
11,096,891
FirstRand Ltd.
7,236,617
41,279,071
Gold Fields Ltd.
609,031
24,123,044
Impala Platinum Holdings Ltd.
3,099,405
44,369,350
MTN Group Ltd.
4,480,649
59,981,396
Nedbank Group Ltd.
1,165,154
18,654,580
Pepkor Holdings Ltd.
1,984,031
2,654,751
Sanlam Ltd.
2,347,193
12,429,394
Sappi Ltd. *(a)
5,389,206
4,126,319
Sasol Ltd. *
6,942,527
86,314,861
Shoprite Holdings Ltd.
850,854
14,992,170
Sibanye Stillwater Ltd.
8,909,074
26,845,330
Standard Bank Group Ltd.
2,217,575
43,050,403
60
  

Schwab Fundamental Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Valterra Platinum Ltd.
655,274
54,622,688
Vodacom Group Ltd.
1,154,138
10,848,616
 
496,712,035
 
Taiwan 25.9%
Acer, Inc.
11,522,470
12,947,629
ASE Technology Holding Co. Ltd.
5,899,000
115,059,265
Asustek Computer, Inc.
1,466,100
35,616,418
AUO Corp.
37,751,496
27,718,134
Catcher Technology Co. Ltd.
971,000
6,307,912
Cathay Financial Holding Co. Ltd.
9,154,994
25,046,144
Chailease Holding Co. Ltd.
3,071,884
10,541,812
China Steel Corp.
39,447,088
24,051,951
Chunghwa Telecom Co. Ltd.
5,489,764
24,009,119
Compal Electronics, Inc.
28,390,000
33,260,858
CTBC Financial Holding Co. Ltd.
20,535,809
39,661,504
Delta Electronics, Inc.
942,696
73,578,769
Eva Airways Corp.
8,280,000
9,528,786
Evergreen Marine Corp. Taiwan Ltd.
8,650,000
58,816,300
Far Eastern New Century Corp.
9,291,061
7,607,723
First Financial Holding Co. Ltd.
11,562,057
10,131,633
Formosa Chemicals & Fibre Corp.
17,077,882
27,204,236
Formosa Plastics Corp.
16,805,476
25,455,933
Fubon Financial Holding Co. Ltd.
9,216,049
32,362,305
Hon Hai Precision Industry Co. Ltd.
34,520,928
318,480,094
Innolux Corp. *
47,637,444
77,556,931
Inventec Corp.
7,654,646
17,153,953
KGI Financial Holding Co. Ltd.
22,691,823
16,298,735
Lite-On Technology Corp., ADR
2,644,229
19,794,471
MediaTek, Inc.
1,254,046
172,541,165
Mega Financial Holding Co. Ltd.
8,559,788
10,930,121
Micro-Star International Co. Ltd.
2,768,000
11,575,490
Nan Ya Plastics Corp.
15,184,588
47,552,572
Novatek Microelectronics Corp.
1,210,000
18,424,925
Pegatron Corp.
11,035,234
31,176,460
Pou Chen Corp.
9,709,000
7,887,952
Powertech Technology, Inc.
1,834,000
22,189,143
Quanta Computer, Inc.
3,098,058
33,526,733
Realtek Semiconductor Corp.
518,000
9,590,908
Synnex Technology International Corp.
5,190,178
14,232,376
Taiwan Mobile Co. Ltd.
2,678,530
9,533,961
Taiwan Semiconductor Manufacturing
Co. Ltd.
8,286,352
622,954,429
TCC Group Holdings Co. Ltd. *
16,831,760
13,110,563
TS Financial Holding Co. Ltd.
15,198,000
11,328,576
Unimicron Technology Corp.
1,697,817
57,180,155
Uni-President Enterprises Corp.
8,140,796
18,659,212
United Microelectronics Corp.
23,927,931
110,376,084
Wan Hai Lines Ltd.
4,925,000
12,892,053
Wistron Corp.
6,115,934
30,945,253
WPG Holdings Ltd.
7,230,880
27,122,581
WT Microelectronics Co. Ltd.
1,985,000
18,281,352
Yageo Corp.
1,795,752
42,306,267
Yang Ming Marine Transport Corp.
14,066,000
23,663,731
Yuanta Financial Holding Co. Ltd.
15,652,587
29,780,664
Zhen Ding Technology Holding Ltd.
1,990,000
32,716,158
 
2,488,669,499
 
Thailand 2.7%
Advanced Info Service PCL NVDR
1,006,300
10,914,853
Bangkok Bank PCL NVDR
3,506,200
18,637,966
Banpu PCL NVDR
91,127,300
15,960,228
Charoen Pokphand Foods PCL NVDR
16,674,800
9,734,866
CP ALL PCL NVDR
6,755,900
9,808,458
Kasikornbank PCL NVDR
4,369,200
26,984,458
PTT Exploration & Production PCL
NVDR
4,110,700
17,872,609
SECURITY
NUMBER
OF SHARES
VALUE ($)
PTT Global Chemical PCL NVDR
18,164,800
18,697,828
PTT PCL NVDR
70,546,400
78,577,569
SCB X PCL NVDR
4,904,600
20,269,433
Siam Cement PCL NVDR
3,015,800
21,035,078
Thai Oil PCL NVDR
8,101,487
11,513,098
 
260,006,444
 
Turkey 1.5%
Akbank TAS
9,690,685
13,514,495
BIM Birlesik Magazalar AS
2,260,834
18,375,658
Eregli Demir ve Celik Fabrikalari TAS
20,165,824
17,216,536
KOC Holding AS
6,719,100
27,686,497
Turk Hava Yollari AO
2,614,729
16,907,632
Turkcell Iletisim Hizmetleri AS
3,958,240
8,711,419
Turkiye Is Bankasi AS, Class C
30,595,664
8,760,333
Turkiye Petrol Rafinerileri AS
5,172,673
26,623,203
Yapi ve Kredi Bankasi AS *
13,611,820
9,835,492
 
147,631,265
 
United Arab Emirates 0.7%
Dubai Electricity & Water Authority PJSC
9,558,268
6,792,295
Emaar Properties PJSC
4,175,005
13,390,571
Emirates NBD Bank PJSC
1,801,961
13,550,829
Emirates Telecommunications Group Co.
PJSC
4,777,998
23,468,174
First Abu Dhabi Bank PJSC
1,883,984
8,617,540
 
65,819,409
 
United Kingdom 0.0%
Metlen Energy & Metals PLC *
55,726
2,722,132
 
United States 0.2%
Yum China Holdings, Inc.
511,536
21,704,473
Total Common Stocks
(Cost $5,839,313,082)
9,102,200,983
PREFERRED STOCKS 4.9% OF NET ASSETS
 
Brazil 4.5%
Axia Energia SA, Class B
250,720
2,821,852
Axia Energia SA, Class C *
344,214
3,426,352
Banco Bradesco SA
12,504,874
43,757,912
Cia Energetica de Minas Gerais
5,322,387
11,321,989
Gerdau SA
9,103,742
40,981,417
Itau Unibanco Holding SA
8,314,426
65,815,827
Localiza Rent a Car SA
44,377
355,142
Metalurgica Gerdau SA
13,407,407
25,976,155
Petroleo Brasileiro SA - Petrobras
28,648,102
237,875,190
 
432,331,836
 
Chile 0.3%
Sociedad Quimica y Minera de Chile SA,
B Shares
343,738
29,431,971
 
Colombia 0.1%
Grupo Cibest SA
457,059
7,734,605
 
  
61

Schwab Fundamental Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Russia 0.0%
Surgutneftegas PAO *(b)(c)
265,800
0
Tatneft PJSC *(b)(c)
4,870
0
Transneft PJSC *(b)(c)
11,600
0
 
0
Total Preferred Stocks
(Cost $295,604,595)
469,498,412
 
 
 
SHORT-TERM INVESTMENTS 0.6% OF NET ASSETS
 
Money Market Funds 0.6%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)
32,788,089
32,788,089
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)(e)
30,248,236
30,248,236
 
63,036,325
Total Short-Term Investments
(Cost $63,036,325)
63,036,325
Total Investments in Securities
(Cost $6,197,954,002)
9,634,735,720
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
MSCI Emerging Markets Index,
expires 06/19/26
457
39,953,225
3,578,478
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Fair valued using significant unobservable inputs.
(c)
Trading in Russian securities listed on the Moscow Exchange, Russian ADRs,
and Russian GDRs are subject to trade restrictions; and therefore, the ability of
the fund to buy these securities is currently not permitted, and the ability of the
fund to sell these securities is uncertain.
(d)
The rate shown is the annualized 7-day yield.
(e)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $27,061,954.
ADR —
American Depositary Receipt
BDR —
Brazilian Depositary Receipt
GDR —
Global Depositary Receipt
NVDR —
Non-Voting Depositary Receipt

The following is a summary of the inputs used to value the fund’s investments as of May 31, 2026:
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Common Stocks1
$8,274,672,614
$
$
$8,274,672,614
India
810,002,451
17,525,918
827,528,369
Russia
0
*
0
Preferred Stocks1
469,498,412
469,498,412
Russia
0
*
0
Short-Term Investments1
63,036,325
63,036,325
Futures Contracts2
3,578,478
3,578,478
Total
$9,620,788,280
$—
$17,525,918
$9,638,314,198
*
Level 3 amount shown includes securities determined to have no value.
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
62
  

Schwab Fundamental Index ETFs
Notes to Portfolio Holdings (Unaudited)
Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the 1940 Act), the Board of Trustees has designated authority to a Valuation Designee, the funds’ investment adviser, to make fair valuation determinations under adopted procedures, subject to Board of Trustees oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
Securities held in each fund’s portfolio are valued every business day. The following valuation policies and procedures are used by the Valuation Designee to value various types of securities:
● Securities traded on an exchange or over-the-counter: Traded securities are valued at the closing value for the day, or, on days when no closing value has been reported, at the mean of the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
● Futures contracts: Futures contracts are valued at their settlement prices as of the close of their exchanges.
● Mutual funds: Mutual funds are valued at their respective net asset values.
● 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:
● Level 1 — quoted prices in active markets for identical investments — Investments whose values are based on quoted market prices in active markets. These generally include active listed equities, mutual funds, exchange-traded funds and futures contracts. Mutual funds and exchange-traded funds are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2, or Level 3 in the fair value hierarchy.
● Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include forward foreign currency exchange contracts, U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. In the event that international securities whose foreign exchanges have halted or suspended trading prior to the normal exchange close, the Valuation Designee may fair value securities whose prices may have been affected by those events. The Valuation Designee seeks to establish prices that investors might expect to realize upon the current sales of these securities.
● 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
  
63

Schwab Fundamental Index ETFs
Notes to Portfolio Holdings (Unaudited) (continued)
third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated in the absence of market information. Assumptions used due to the lack of observable inputs may significantly impact the resulting fair value and therefore a fund’s results of operations.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The levels associated with valuing the funds’ investments are disclosed in each fund’s Portfolio Holdings.
REG89447MAY26
64