Schwab Strategic Trust
Schwab U.S. Broad Market ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 2.0%
Adient PLC *
46,567
1,064,522
Aptiv PLC *
125,854
8,550,521
Autoliv, Inc.
40,542
5,153,699
BorgWarner, Inc.
122,893
8,826,175
Dana, Inc.
66,629
2,359,333
Dauch Corp. *
138,346
918,617
Dorman Products, Inc. *
16,039
1,987,553
Ford Motor Co.
2,326,444
40,573,183
Fox Factory Holding Corp. *
26,000
469,040
Garrett Motion, Inc.
81,357
2,665,255
General Motors Co.
534,165
44,463,895
Gentex Corp.
128,586
3,106,638
Gentherm, Inc. *
18,964
657,861
Goodyear Tire & Rubber Co. *
168,918
1,030,400
Harley-Davidson, Inc.
61,916
1,497,129
Holley, Inc. *
37,361
101,996
Kodiak AI, Inc. *(a)
67,763
477,052
LCI Industries
14,021
1,528,569
Lear Corp.
30,109
4,309,200
Mobileye Global, Inc., Class A *
92,708
958,601
Patrick Industries, Inc.
19,599
1,774,101
Phinia, Inc.
23,292
1,799,540
QuantumScape Corp. *
278,876
2,504,306
Rivian Automotive, Inc., Class A *
482,615
7,866,625
Solid Power, Inc. *
99,711
330,043
Standard Motor Products, Inc.
14,195
556,302
Stoneridge, Inc. *
16,000
119,520
Tesla, Inc. *
1,665,560
725,834,392
Thor Industries, Inc.
31,326
2,477,260
Versigent PLC *
41,812
1,844,745
Visteon Corp.
16,245
1,921,621
Winnebago Industries, Inc.
16,587
492,468
XPEL, Inc. *
14,791
676,245
 
878,896,407
 
Banks 3.4%
1st Source Corp.
9,726
717,973
Amalgamated Financial Corp.
12,143
503,692
Amerant Bancorp, Inc.
20,190
458,717
Ameris Bancorp
37,814
3,188,098
Arrow Financial Corp.
9,966
365,752
Associated Banc-Corp.
95,802
2,664,254
Atlantic Union Bankshares Corp.
84,732
3,187,618
Axos Financial, Inc. *
33,865
2,943,207
Banc of California, Inc.
77,302
1,485,744
BancFirst Corp.
11,584
1,277,599
Bancorp, Inc. *
25,213
1,390,749
Bank First Corp.
6,157
855,946
Bank of America Corp.
3,929,742
202,774,687
Bank of Hawaii Corp.
24,739
1,895,007
Bank of Marin Bancorp
7,905
204,265
Bank OZK
62,283
3,013,874
BankUnited, Inc.
43,437
2,015,042
Banner Corp.
19,245
1,250,925
Beacon Financial Corp.
48,762
1,418,487
BOK Financial Corp.
12,792
1,637,888
SECURITY
NUMBER
OF SHARES
VALUE ($)
Burke & Herbert Financial Services
Corp.
9,936
631,930
Business First Bancshares, Inc.
18,412
524,374
Byline Bancorp, Inc.
19,636
649,755
Camden National Corp.
10,417
521,163
Capital City Bank Group, Inc.
8,000
365,120
Capitol Federal Financial, Inc.
74,171
576,309
Cathay General Bancorp
39,603
2,283,509
Central BanCo, Inc.
18,356
521,310
Central Pacific Financial Corp.
14,712
505,504
Citigroup, Inc.
1,034,618
130,258,406
Citizens Financial Group, Inc.
252,143
15,698,423
Citizens Financial Services, Inc.
2,266
147,358
City Holding Co.
9,331
1,159,937
CNB Financial Corp.
17,211
527,861
Coastal Financial Corp. *
7,345
522,817
Columbia Banking System, Inc.
174,813
5,181,457
Columbia Financial, Inc. *
18,040
363,145
Commerce Bancshares, Inc.
81,536
4,257,810
Community Financial System, Inc.
31,802
2,023,879
Community Trust Bancorp, Inc.
8,318
556,141
ConnectOne Bancorp, Inc.
30,135
906,159
Cullen/Frost Bankers, Inc.
37,756
5,116,693
Customers Bancorp, Inc. *
18,729
1,407,297
CVB Financial Corp.
98,073
1,996,766
Dime Community Bancshares, Inc.
23,671
885,769
Eagle Bancorp, Inc.
17,500
477,575
East West Bancorp, Inc.
81,302
9,962,747
Eastern Bankshares, Inc.
127,725
2,520,014
Enterprise Financial Services Corp.
20,639
1,250,930
Equity Bancshares, Inc., Class A
7,993
368,477
Esquire Financial Holdings, Inc.
3,900
428,571
FB Financial Corp.
23,233
1,224,147
Fifth Third Bancorp
535,232
26,724,134
Financial Institutions, Inc.
12,266
444,397
First BanCorp
92,420
2,216,232
First Bancorp/Southern Pines NC
23,425
1,378,093
First Busey Corp.
52,751
1,443,795
First Citizens BancShares, Inc.,
Class A
5,815
11,574,816
First Commonwealth Financial Corp.
60,803
1,151,609
First Community Bankshares, Inc.
9,732
419,547
First Financial Bancorp
61,616
1,895,308
First Financial Bankshares, Inc.
75,784
2,476,621
First Financial Corp.
6,687
462,607
First Hawaiian, Inc.
74,443
2,008,472
First Horizon Corp.
285,476
6,917,084
First Interstate BancSystem, Inc.,
Class A
51,657
1,838,989
First Merchants Corp.
36,721
1,479,856
First Mid Bancshares, Inc.
11,727
516,574
Firstsun Capital Bancorp *
13,078
463,615
Five Star Bancorp
10,105
426,734
Flagstar Bank NA
181,745
2,555,335
Flushing Financial Corp.
21,896
349,679
FNB Corp.
212,919
3,721,824
Fulton Financial Corp.
112,904
2,448,888
GBank Financial Holdings, Inc. *
5,200
154,908
German American Bancorp, Inc.
21,475
938,887
Glacier Bancorp, Inc.
75,414
3,585,936
Great Southern Bancorp, Inc.
4,752
340,956
  
1

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Hancock Whitney Corp.
48,368
3,294,828
Hanmi Financial Corp.
15,737
473,998
HBT Financial, Inc.
6,770
193,825
Heritage Financial Corp.
26,920
733,570
Hilltop Holdings, Inc.
24,721
932,476
Hingham Institution For Savings
1,200
347,268
Home BancShares, Inc.
109,877
2,940,309
HomeTrust Bancshares, Inc.
8,573
398,387
Hope Bancorp, Inc.
81,301
1,019,515
Horizon Bancorp, Inc.
31,330
581,172
Huntington Bancshares, Inc.
1,203,055
19,681,980
Independent Bank Corp.
12,311
422,514
Independent Bank Corp.
29,029
2,295,613
International Bancshares Corp.
31,584
2,279,101
JPMorgan Chase & Co.
1,596,952
477,983,703
Kearny Financial Corp.
41,777
344,242
KeyCorp
553,291
11,801,697
Lakeland Financial Corp.
14,570
883,379
Live Oak Bancshares, Inc.
19,301
734,017
M&T Bank Corp.
89,706
19,386,364
Mechanics Bancorp, Class A
27,964
411,630
Mercantile Bank Corp.
10,339
547,864
Metrocity Bankshares, Inc.
13,494
440,714
Metropolitan Bank Holding Corp.
6,457
578,031
Mid Penn Bancorp, Inc.
12,019
392,420
Midland States Bancorp, Inc.
11,502
319,756
National Bank Holdings Corp.,
Class A
26,859
1,123,512
NB Bancorp, Inc.
21,592
432,488
NBT Bancorp, Inc.
30,853
1,426,643
Nicolet Bankshares, Inc.
11,062
1,551,667
Northeast Bank
4,200
528,108
Northfield Bancorp, Inc.
23,206
329,061
Northpointe Bancshares, Inc.
5,900
100,772
Northwest Bancshares, Inc.
84,992
1,202,637
OceanFirst Financial Corp.
35,000
657,650
OFG Bancorp
25,842
1,177,362
Old National Bancorp
205,326
4,929,877
Old Second Bancorp, Inc.
32,956
702,622
Origin Bancorp, Inc.
16,455
784,245
Orrstown Financial Services, Inc.
11,541
428,517
Park National Corp.
9,540
1,636,682
Pathward Financial, Inc.
12,549
1,032,030
Peapack-Gladstone Financial Corp.
7,818
338,129
Peoples Bancorp, Inc.
20,702
720,016
Pinnacle Financial Partners, Inc.
90,242
8,820,253
PNC Financial Services Group, Inc.
239,390
52,933,917
Popular, Inc.
39,059
5,801,433
Preferred Bank
6,654
637,586
Prosperity Bancshares, Inc.
61,302
4,227,386
Provident Financial Services, Inc.
77,275
1,714,732
QCR Holdings, Inc.
9,564
881,323
Regions Financial Corp.
511,019
14,308,532
Renasant Corp.
57,166
2,327,800
Republic Bancorp, Inc., Class A
4,756
384,998
S&T Bancorp, Inc.
21,032
948,333
Seacoast Banking Corp. of Florida
56,041
1,698,603
ServisFirst Bancshares, Inc.
29,904
2,332,213
Simmons First National Corp.,
Class A
86,612
1,857,827
SmartFinancial, Inc.
8,370
349,029
South Plains Financial, Inc.
7,100
288,189
Southern Missouri Bancorp, Inc.
5,612
387,565
Southside Bancshares, Inc.
16,445
538,738
Southstate Bank Corp.
58,171
5,511,702
Stellar Bancorp, Inc.
25,611
956,315
Stock Yards Bancorp, Inc.
16,288
1,168,501
Texas Capital Bancshares, Inc. *
25,772
2,564,056
TFS Financial Corp.
25,595
407,216
SECURITY
NUMBER
OF SHARES
VALUE ($)
Tompkins Financial Corp.
7,606
655,257
Towne Bank
52,044
1,773,139
TriCo Bancshares
18,852
957,682
Triumph Financial, Inc. *
13,170
938,363
Truist Financial Corp.
749,986
36,156,825
TrustCo Bank Corp.
10,097
523,126
Trustmark Corp.
36,112
1,594,706
U.S. Bancorp
921,131
50,524,035
UMB Financial Corp.
41,761
5,481,549
United Bankshares, Inc.
81,242
3,526,715
United Community Banks, Inc.
69,872
2,302,282
Univest Financial Corp.
16,289
642,438
Valley National Bancorp
281,468
3,875,814
WaFd, Inc.
45,055
1,602,156
Washington Trust Bancorp, Inc.
11,591
377,519
Webster Financial Corp.
95,124
6,917,417
Wells Fargo & Co.
1,831,559
142,019,085
WesBanco, Inc.
54,684
1,894,801
Westamerica BanCorp
14,341
795,782
Western Alliance Bancorp
61,317
4,883,899
Wintrust Financial Corp.
39,570
5,944,601
WSFS Financial Corp.
31,353
2,240,172
Zions Bancorp NA
86,131
5,378,881
 
1,465,578,655
 
Capital Goods 7.4%
3D Systems Corp. *
77,860
277,960
3M Co.
311,722
47,733,990
A.O. Smith Corp.
66,945
3,797,120
AAON, Inc.
39,652
5,559,210
AAR Corp. *
22,157
2,495,321
Acuity, Inc.
18,348
5,598,158
Advanced Drainage Systems, Inc.
42,205
5,873,248
AECOM
76,797
5,327,408
AeroVironment, Inc. *
18,511
3,836,220
AGCO Corp.
36,273
4,072,732
AirJoule Technologies Corp. *
8,000
35,920
Alamo Group, Inc.
6,204
935,005
Albany International Corp., Class A
17,106
1,106,587
Allegion PLC
50,382
6,553,187
Alliance Laundry Holdings, Inc. *
24,000
606,000
Allient, Inc.
8,606
681,251
Allison Transmission Holdings, Inc.
49,073
5,571,258
Ameresco, Inc., Class A *
18,500
665,630
American Superconductor Corp. *
30,262
1,541,546
AMETEK, Inc.
136,198
30,760,318
Amprius Technologies, Inc. *
75,316
1,527,408
API Group Corp. *
228,202
9,356,282
Apogee Enterprises, Inc.
11,954
459,153
Applied Industrial Technologies, Inc.
21,881
6,647,667
Archer Aviation, Inc., Class A *
359,675
2,449,387
Arcosa, Inc.
28,663
3,633,035
Argan, Inc.
8,228
5,488,241
Armstrong World Industries, Inc.
26,093
4,120,085
Array Technologies, Inc. *
95,097
863,481
Astec Industries, Inc.
13,148
662,133
Astronics Corp. *
18,379
1,598,973
ATI, Inc. *
80,559
14,110,714
Atkore, Inc.
20,882
1,729,238
Atmus Filtration Technologies, Inc.
48,232
2,256,293
Axon Enterprise, Inc. *
46,826
21,011,763
AZZ, Inc.
18,062
2,447,582
Beta Technologies, Inc., Class A *
17,000
311,780
Bloom Energy Corp., Class A *
152,862
43,565,670
Blue Bird Corp. *
18,273
1,238,361
BlueLinx Holdings, Inc. *
4,759
247,420
Boeing Co. *
464,800
107,438,520
Boise Cascade Co.
21,306
1,485,454
2
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Bowman Consulting Group Ltd. *
8,117
255,929
Builders FirstSource, Inc. *
65,619
5,004,105
BWX Technologies, Inc.
54,082
10,593,582
Cadre Holdings, Inc.
15,098
470,152
Carlisle Cos., Inc.
24,086
8,305,094
Carpenter Technology Corp.
29,569
13,867,270
Carrier Global Corp.
464,929
29,695,015
Caterpillar, Inc.
275,553
241,348,606
CECO Environmental Corp. *
17,631
1,317,917
Centuri Holdings, Inc. *
48,800
1,500,112
ChargePoint Holdings, Inc. *(a)
15,000
113,850
Chart Industries, Inc. *
26,316
5,468,991
CNH Industrial NV
524,996
5,360,209
Columbus McKinnon Corp.
16,620
265,255
Comfort Systems USA, Inc.
20,793
38,013,971
Construction Partners, Inc., Class A *
27,706
3,226,918
Core & Main, Inc., Class A *
112,097
5,543,197
Crane Co.
29,515
5,401,245
CSW Industrials, Inc.
9,640
2,669,991
Cummins, Inc.
81,713
52,838,077
Curtiss-Wright Corp.
21,809
16,304,626
Custom Truck One Source, Inc. *
37,653
360,716
Deere & Co.
149,174
80,879,159
Distribution Solutions Group, Inc. *
5,809
156,843
DNOW, Inc. *
111,852
1,430,587
Donaldson Co., Inc.
68,068
5,572,727
Douglas Dynamics, Inc.
12,323
548,990
Dover Corp.
79,516
16,806,502
Ducommun, Inc. *
8,699
1,324,162
DXP Enterprises, Inc. *
7,607
1,103,471
Dycom Industries, Inc. *
17,492
8,920,920
Eaton Corp. PLC
229,733
92,031,040
EMCOR Group, Inc.
26,542
21,945,456
Emerson Electric Co.
332,865
47,872,644
Energy Recovery, Inc. *
33,759
275,811
Energy Vault Holdings, Inc. *
66,390
335,269
Enerpac Tool Group Corp.
32,073
1,074,125
EnerSys
21,815
4,973,166
Enovix Corp. *(a)
110,519
881,942
Enpro, Inc.
12,544
3,850,883
Eos Energy Enterprises, Inc. *(a)
190,605
1,606,800
EquipmentShare.com, Inc.,
Class A *(a)
20,000
416,800
Esab Corp.
33,599
3,105,556
ESCO Technologies, Inc.
14,956
4,365,656
Eve Holding, Inc. *
50,593
174,546
Everus Construction Group, Inc. *
29,739
4,424,271
Fastenal Co.
682,904
30,184,357
Federal Signal Corp.
35,731
3,812,498
Ferguson Enterprises, Inc.
115,395
26,075,808
Firefly Aerospace, Inc. *
15,399
715,900
Flowserve Corp.
74,634
5,635,613
Fluence Energy, Inc. *
50,107
946,020
Fluor Corp. *
97,525
4,462,744
Forgent Power Solutions, Inc. *
52,166
2,851,394
Fortive Corp.
185,771
10,834,165
Fortune Brands Innovations, Inc.
72,006
2,803,914
Franklin Electric Co., Inc.
22,478
2,211,386
FTAI Aviation Ltd.
60,570
15,768,794
Gates Industrial Corp. PLC *
152,521
3,953,344
GATX Corp.
21,036
3,556,767
GE Vernova, Inc.
159,584
154,528,379
Generac Holdings, Inc. *
34,644
9,627,914
General Dynamics Corp.
150,036
52,035,486
General Electric Co.
620,880
201,016,109
Gibraltar Industries, Inc. *
16,482
637,029
Global Industrial Co.
7,498
227,939
Gorman-Rupp Co.
13,517
1,013,099
Graco, Inc.
97,468
7,353,961
SECURITY
NUMBER
OF SHARES
VALUE ($)
Graham Corp. *
6,243
625,174
Granite Construction, Inc.
26,250
3,592,050
Greenbrier Cos., Inc.
17,524
825,556
Griffon Corp.
22,977
2,021,516
Hayward Holdings, Inc. *
119,306
1,683,408
HEICO Corp.
59,660
20,772,419
Helios Technologies, Inc.
20,829
1,730,682
Herc Holdings, Inc.
17,725
2,357,425
Hexcel Corp.
45,259
4,063,806
Hillman Solutions Corp. *
112,987
842,883
Honeywell International, Inc.
376,390
89,528,125
Howmet Aerospace, Inc.
237,129
61,238,564
Hubbell, Inc.
31,310
14,828,729
Huntington Ingalls Industries, Inc.
22,985
7,083,287
Hyliion Holdings Corp. *
74,851
523,208
Hyster-Yale, Inc.
5,890
213,925
IDEX Corp.
44,138
9,305,615
IES Holdings, Inc. *
5,327
3,613,570
Illinois Tool Works, Inc.
155,920
38,555,898
Ingersoll Rand, Inc.
210,667
15,092,184
Insteel Industries, Inc.
11,550
317,509
Intuitive Machines, Inc. *
65,890
2,887,959
ITT, Inc.
50,627
9,872,265
Janus International Group, Inc. *
82,288
439,418
JBT Marel Corp.
30,775
4,135,852
JELD-WEN Holding, Inc. *
60,836
131,406
Johnson Controls International PLC
363,130
48,681,208
Kadant, Inc.
6,759
2,157,338
Karman Holdings, Inc. *
47,293
2,719,347
Kennametal, Inc.
47,014
1,542,059
Kratos Defense & Security Solutions,
Inc. *
108,858
6,981,064
L3Harris Technologies, Inc.
110,761
34,909,652
Legence Corp., Class A *
28,132
2,355,774
Lennox International, Inc.
18,856
9,468,729
Leonardo DRS, Inc.
43,820
2,136,663
Limbach Holdings, Inc. *
5,702
441,620
Lincoln Electric Holdings, Inc.
32,736
8,461,929
Lindsay Corp.
5,967
652,133
Loar Holdings, Inc. *
20,600
1,328,288
Lockheed Martin Corp.
119,888
63,594,590
LSI Industries, Inc.
17,500
424,025
Madison Air Solutions Corp.,
Class A *
48,538
2,109,947
Manitowoc Co., Inc. *
21,000
248,430
Masco Corp.
120,620
8,473,555
MasTec, Inc. *
36,175
13,687,535
Masterbrand, Inc. *
124,313
1,079,037
McGrath RentCorp
14,225
1,550,383
Mercury Systems, Inc. *
32,400
3,619,080
Microvast Holdings, Inc. *
122,752
190,266
Middleby Corp. *
27,217
4,218,907
Miller Industries, Inc.
6,716
321,764
Modine Manufacturing Co. *
31,707
8,843,399
Moog, Inc., Class A
17,142
6,170,606
MSC Industrial Direct Co., Inc.,
Class A
26,713
2,924,272
Mueller Industries, Inc.
66,420
8,541,612
Mueller Water Products, Inc., Class A
92,167
2,323,530
MYR Group, Inc. *
9,030
4,199,492
NANO Nuclear Energy, Inc. *(a)
21,193
612,054
National Presto Industries, Inc.
2,567
324,905
Nextpower, Inc., Class A *
87,277
13,650,123
Nordson Corp.
31,475
9,043,712
Northrop Grumman Corp.
79,104
44,589,343
NPK International, Inc. *
48,179
699,559
NuScale Power Corp. *
90,699
1,149,156
nVent Electric PLC
95,680
15,977,603
Oshkosh Corp.
37,949
4,933,370
  
3

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Otis Worldwide Corp.
229,562
16,262,172
Owens Corning
48,955
6,159,518
PACCAR, Inc.
311,439
34,373,522
Parker-Hannifin Corp.
74,769
63,152,140
Pentair PLC
96,281
6,820,546
Plug Power, Inc. *
842,947
3,329,641
Powell Industries, Inc.
17,149
4,877,519
Power Solutions International, Inc. *
3,500
145,880
Preformed Line Products Co.
1,518
561,387
Primoris Services Corp.
32,067
4,033,387
Proto Labs, Inc. *
13,117
993,744
Quanex Building Products Corp.
31,012
577,133
Quanta Services, Inc.
88,426
62,935,437
QXO, Inc. *(a)
302,388
5,216,193
RBC Bearings, Inc. *
18,831
10,770,579
Red Cat Holdings, Inc. *(a)
76,322
1,106,669
Redwire Corp. *
45,763
1,124,397
Regal Rexnord Corp.
39,304
7,929,975
Resideo Technologies, Inc. *
80,097
2,504,633
Rocket Lab Corp. *
277,322
39,790,161
Rockwell Automation, Inc.
66,747
30,106,902
RTX Corp.
795,783
142,970,374
Rush Enterprises, Inc., Class A
39,738
2,755,036
Sensata Technologies Holding PLC
85,635
4,229,513
SES AI Corp. *
161,855
212,030
Shoals Technologies Group, Inc.,
Class A *
98,754
1,229,487
Simpson Manufacturing Co., Inc.
24,906
4,725,664
SiteOne Landscape Supply, Inc. *
25,623
2,782,658
Snap-on, Inc.
30,671
11,385,382
Solv Energy, Inc., Class A *
15,623
555,085
SPX Technologies, Inc. *
29,950
6,488,967
StandardAero, Inc. *
113,560
3,252,358
Standex International Corp.
7,037
1,949,319
Stanley Black & Decker, Inc.
92,243
7,325,939
Sterling Infrastructure, Inc. *
18,229
15,692,252
Sunrun, Inc. *
135,226
2,260,979
Symbotic, Inc. *
34,996
1,624,689
Tecnoglass, Inc.
16,031
690,776
Tennant Co.
10,652
917,244
Terex Corp.
67,066
3,901,900
Terrestrial Energy, Inc. *
43,388
396,132
Textron, Inc.
103,672
9,512,943
Thermon Group Holdings, Inc. *
19,374
1,184,526
Timken Co.
38,084
4,873,990
Titan International, Inc. *
31,313
226,080
Titan Machinery, Inc. *
11,148
243,249
Toro Co.
57,990
5,212,141
Trane Technologies PLC
130,955
59,099,991
Transcat, Inc. *
5,428
458,775
TransDigm Group, Inc.
33,375
41,996,430
Trex Co., Inc. *
64,021
2,650,469
Trinity Industries, Inc.
46,252
1,500,415
Tutor Perini Corp.
25,560
1,827,284
UFP Industries, Inc.
34,517
2,795,877
United Rentals, Inc.
37,240
37,078,751
V2X, Inc. *
13,416
1,115,272
Valmont Industries, Inc.
11,545
6,001,206
Vertiv Holdings Co., Class A
226,293
71,442,963
Vicor Corp. *
13,612
4,557,842
Virgin Galactic Holdings, Inc. *(a)
63,971
395,341
Voyager Technologies, Inc., Class A *
7,300
361,569
VSE Corp.
17,015
3,150,327
Wabash National Corp.
26,259
208,234
Watsco, Inc.
20,688
7,594,565
Watts Water Technologies, Inc.,
Class A
15,952
4,928,849
WESCO International, Inc.
28,855
10,421,560
SECURITY
NUMBER
OF SHARES
VALUE ($)
Westinghouse Air Brake
Technologies Corp.
100,656
26,287,321
Willis Lease Finance Corp.
1,548
274,011
WillScot Holdings Corp.
109,036
2,805,496
Woodward, Inc.
35,170
12,310,555
Worthington Enterprises, Inc.
16,967
963,217
WW Grainger, Inc.
25,897
31,963,113
Xometry, Inc., Class A *
27,084
2,580,834
Xylem, Inc.
143,282
15,695,110
York Space Systems, Inc. *(a)
12,500
408,000
Zurn Elkay Water Solutions Corp.
87,484
4,111,748
 
3,193,905,348
 
Commercial & Professional Services 1.0%
ABM Industries, Inc.
36,735
1,434,869
ACCO Brands Corp.
52,622
208,383
ACV Auctions, Inc., Class A *
100,519
660,410
Alight, Inc., Class A
253,722
239,082
Amentum Holdings, Inc. *
88,138
2,047,446
Automatic Data Processing, Inc.
238,426
52,892,424
Barrett Business Services, Inc.
13,459
437,956
BlackSky Technology, Inc. *
18,034
874,108
Booz Allen Hamilton Holding Corp.,
Class A
71,343
5,648,939
Brady Corp., Class A
25,271
2,175,328
BrightView Holdings, Inc. *
40,947
506,105
Brink's Co.
24,380
2,536,008
Broadridge Financial Solutions, Inc.
68,925
10,595,151
CACI International, Inc., Class A *
13,007
6,679,225
Casella Waste Systems, Inc.,
Class A *
37,454
3,077,595
CBIZ, Inc. *
28,591
949,221
Cimpress PLC *
8,762
863,583
Cintas Corp.
200,961
34,416,581
Clarivate PLC *
263,321
666,202
Clean Harbors, Inc. *
30,111
8,462,094
Concentrix Corp.
26,719
755,880
Copart, Inc. *
524,974
17,203,398
CoreCivic, Inc. *
54,593
1,150,820
CRA International, Inc.
3,642
505,327
Deluxe Corp.
26,224
636,981
Ennis, Inc.
14,809
302,992
Enviri Corp. *
49,483
1,026,772
Equifax, Inc.
71,156
11,796,953
ExlService Holdings, Inc. *
95,290
2,766,269
Exponent, Inc.
29,970
1,747,850
First Advantage Corp. *
49,118
785,888
Forrester Research, Inc. *
7,000
49,350
Franklin Covey Co. *
6,000
142,320
FTI Consulting, Inc. *
17,472
2,676,361
Genpact Ltd.
95,943
3,161,322
GEO Group, Inc. *
82,346
1,866,784
Healthcare Services Group, Inc. *
42,889
883,513
HNI Corp.
40,514
1,263,632
Huron Consulting Group, Inc. *
9,000
966,510
ICF International, Inc.
10,618
730,943
Innodata, Inc. *
18,500
1,942,130
Insperity, Inc.
20,574
709,186
Interface, Inc.
34,408
1,018,477
Jacobs Solutions, Inc.
69,482
8,328,112
KBR, Inc.
75,267
2,630,582
Kelly Services, Inc., Class A
23,385
271,734
Kforce, Inc.
11,106
521,871
Korn Ferry
30,640
2,144,187
Legalzoom.com, Inc. *
70,686
444,615
Leidos Holdings, Inc.
75,343
9,628,835
Liquidity Services, Inc. *
12,128
439,155
ManpowerGroup, Inc.
27,200
860,336
4
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Maximus, Inc.
33,447
2,071,373
Millerknoll, Inc.
43,667
706,532
MSA Safety, Inc.
21,286
3,529,219
Onterris, Inc. *
19,062
305,183
OPENLANE, Inc. *
65,609
2,499,703
Parsons Corp. *
31,807
1,879,794
Paychex, Inc.
191,298
18,552,080
Paycom Software, Inc.
28,128
3,928,638
Paylocity Holding Corp. *
26,116
3,001,512
Pitney Bowes, Inc.
86,893
1,398,977
Planet Labs PBC *
166,781
8,529,180
RB Global, Inc.
109,994
11,697,862
Republic Services, Inc.
119,446
23,941,756
Resources Connection, Inc.
20,000
90,400
Robert Half, Inc.
55,557
1,635,598
Rollins, Inc.
172,612
8,216,331
Science Applications International
Corp.
27,276
2,842,159
SS&C Technologies Holdings, Inc.
124,290
8,392,061
TaskUS, Inc., Class A
10,500
66,465
Tetra Tech, Inc.
156,522
4,302,790
TIC Solutions, Inc. *
110,910
906,135
TransUnion
114,335
8,181,813
TriNet Group, Inc.
17,414
795,472
TrueBlue, Inc. *(b)
18,000
111,780
UL Solutions, Inc., Class A
45,472
4,524,464
UniFirst Corp.
8,519
2,261,113
Upwork, Inc. *
77,903
687,104
Veralto Corp.
146,367
12,035,758
Verisk Analytics, Inc.
83,069
14,536,244
Verra Mobility Corp. *
92,289
416,223
Vestis Corp. *
67,712
874,839
Waste Management, Inc.
220,070
46,536,002
Willdan Group, Inc. *
7,978
724,722
 
414,909,077
 
Consumer Discretionary Distribution & Retail 5.3%
1-800-Flowers.com, Inc., Class A *(a)
16,000
73,120
Abercrombie & Fitch Co., Class A *
27,531
2,125,944
Academy Sports & Outdoors, Inc.
39,492
2,085,178
Advance Auto Parts, Inc.
34,173
2,058,581
Amazon.com, Inc. *
5,785,175
1,565,699,762
American Eagle Outfitters, Inc.
94,555
1,493,969
America's Car-Mart, Inc. *
7,000
86,030
Arhaus, Inc.
31,341
212,179
Arko Corp.
43,985
341,324
Asbury Automotive Group, Inc. *
11,380
2,136,140
AutoNation, Inc. *
16,280
3,056,082
AutoZone, Inc. *
9,803
28,773,668
Bath & Body Works, Inc.
126,212
2,526,764
Bed Bath & Beyond, Inc. *
35,695
218,810
Best Buy Co., Inc.
115,565
9,008,292
Bob's Discount Furniture, Inc. *
13,961
189,870
Boot Barn Holdings, Inc. *
17,685
3,004,151
Buckle, Inc.
20,013
917,996
Build-A-Bear Workshop, Inc.
6,963
259,093
Burlington Stores, Inc. *
36,667
11,873,875
Caleres, Inc.
15,000
218,400
Camping World Holdings, Inc.,
Class A
45,418
332,914
CarMax, Inc. *
83,148
3,710,064
Carvana Co. *
418,181
30,527,213
Chewy, Inc., Class A *
145,555
3,280,810
Coupang, Inc. *
802,045
13,313,947
Designer Brands, Inc., Class A
20,000
154,400
Dick's Sporting Goods, Inc.
39,026
8,881,147
Dillard's, Inc., Class A
1,736
1,024,605
eBay, Inc.
267,434
29,222,513
SECURITY
NUMBER
OF SHARES
VALUE ($)
Etsy, Inc. *
57,749
3,922,312
Five Below, Inc. *
32,807
7,458,999
Floor & Decor Holdings, Inc.,
Class A *
63,077
3,242,158
GameStop Corp., Class A *
245,940
5,209,009
Gap, Inc.
138,989
2,939,617
Genesco, Inc. *
6,608
253,549
Genuine Parts Co.
81,685
8,062,309
GigaCloud Technology, Inc., Class A *
15,615
562,765
Gold.com, Inc.
12,773
540,426
Group 1 Automotive, Inc.
6,962
2,202,359
Groupon, Inc. *
14,084
284,919
Haverty Furniture Cos., Inc.
8,044
186,540
Home Depot, Inc.
589,537
186,965,764
Kohl's Corp.
65,578
941,700
Lands' End, Inc. *
7,418
87,161
Lithia Motors, Inc.
14,259
4,147,800
LKQ Corp.
151,999
4,122,213
Lowe's Cos., Inc.
331,597
71,081,133
Macy's, Inc.
161,540
3,515,110
MarineMax, Inc. *
11,506
396,267
Monro, Inc. (a)
17,179
282,595
Murphy USA, Inc.
10,062
5,091,674
National Vision Holdings, Inc. *
46,007
770,617
Ollie's Bargain Outlet Holdings, Inc. *
35,852
2,926,599
O'Reilly Automotive, Inc. *
498,253
43,288,221
Outdoor Holding Co. *
52,155
107,439
Pattern Group, Inc., Class A *
15,993
300,508
Penske Automotive Group, Inc.
10,715
1,793,370
Petco Health & Wellness Co., Inc. *
51,348
154,557
Pool Corp.
19,017
3,449,684
RealReal, Inc. *
58,048
559,583
Revolve Group, Inc. *
23,000
450,800
RH *
8,969
1,331,807
Ross Stores, Inc.
191,439
44,362,159
Sally Beauty Holdings, Inc. *
62,994
836,560
Savers Value Village, Inc. *
22,735
203,478
Shoe Carnival, Inc.
10,461
185,160
Signet Jewelers Ltd.
23,211
2,028,409
Sleep Number Corp. *(a)
24,000
28,560
Sonic Automotive, Inc., Class A
8,646
714,333
Stitch Fix, Inc., Class A *
66,747
237,619
ThredUp, Inc., Class A *
45,075
209,599
TJX Cos., Inc.
656,990
101,669,202
Tractor Supply Co.
312,289
9,846,472
Ulta Beauty, Inc. *
25,960
13,209,746
Upbound Group, Inc.
35,299
678,094
Urban Outfitters, Inc. *
31,015
2,253,240
Valvoline, Inc. *
76,212
2,572,155
Victoria's Secret & Co. *
48,427
2,663,485
Warby Parker, Inc., Class A *
58,143
1,425,666
Wayfair, Inc., Class A *
64,151
4,635,551
Williams-Sonoma, Inc.
70,511
14,353,924
Winmark Corp.
1,708
646,598
Zumiez, Inc. *
8,189
201,695
 
2,296,398,110
 
Consumer Durables & Apparel 0.6%
Acushnet Holdings Corp.
17,363
1,541,487
Beazer Homes USA, Inc. *
16,658
422,947
Brunswick Corp.
38,525
3,226,854
Callaway Golf Co. *
82,838
1,275,705
Capri Holdings Ltd. *
70,728
1,309,175
Carter's, Inc.
21,000
810,390
Cavco Industries, Inc. *
4,668
2,504,475
Century Communities, Inc.
15,571
822,460
Champion Homes, Inc. *
33,758
2,485,602
Columbia Sportswear Co.
16,501
1,092,036
  
5

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Crocs, Inc. *
30,961
3,674,142
Deckers Outdoor Corp. *
83,629
9,521,162
DR Horton, Inc.
159,099
23,401,872
Dream Finders Homes, Inc.,
Class A *
15,666
242,196
Ethan Allen Interiors, Inc.
13,270
273,627
Figs, Inc., Class A *
92,531
1,088,165
Funko, Inc., Class A *
23,000
130,640
Garmin Ltd.
97,102
22,714,100
G-III Apparel Group Ltd.
22,408
724,451
GoPro, Inc., Class A *
75,028
93,785
Green Brick Partners, Inc. *
17,297
1,163,396
Hasbro, Inc.
79,722
6,869,645
Helen of Troy Ltd. *
13,500
366,390
Hovnanian Enterprises, Inc.,
Class A *
3,200
353,152
Installed Building Products, Inc.
13,268
2,786,015
Johnson Outdoors, Inc., Class A
4,785
214,177
KB Home
37,242
1,819,644
Kontoor Brands, Inc.
30,584
2,195,014
Latham Group, Inc. *
25,271
133,431
La-Z-Boy, Inc.
23,787
893,915
Legacy Housing Corp. *
6,676
160,291
Leggett & Platt, Inc.
78,753
808,793
Lennar Corp., Class A
132,032
11,853,833
Levi Strauss & Co., Class A
59,554
1,381,653
LGI Homes, Inc. *
11,830
565,592
Lululemon Athletica, Inc. *
63,552
8,336,751
M/I Homes, Inc. *
15,173
1,997,070
Malibu Boats, Inc., Class A *
11,217
308,019
Mattel, Inc. *
181,533
2,712,103
Meritage Homes Corp.
39,421
2,571,826
Mohawk Industries, Inc. *
30,872
3,316,270
Movado Group, Inc.
8,138
311,523
Newell Brands, Inc.
247,866
842,744
NIKE, Inc., Class B
704,105
32,550,774
NVR, Inc. *
1,636
9,987,453
Oxford Industries, Inc.
9,278
413,984
Peloton Interactive, Inc., Class A *
267,024
1,708,954
Polaris, Inc.
31,545
2,226,131
PulteGroup, Inc.
112,880
13,340,158
PVH Corp.
27,657
2,579,845
Ralph Lauren Corp.
22,682
8,253,980
SharkNinja, Inc. *
42,090
5,130,350
Smith & Wesson Brands, Inc.
25,128
382,448
Somnigroup International, Inc.
124,438
8,811,455
Sonos, Inc. *
75,624
1,193,347
Steven Madden Ltd.
42,504
1,846,374
Sturm Ruger & Co., Inc.
9,917
387,656
Tapestry, Inc.
119,691
17,410,253
Taylor Morrison Home Corp. *
57,968
3,391,128
Toll Brothers, Inc.
56,226
7,789,550
TopBuild Corp. *
16,644
6,948,537
Under Armour, Inc., Class A *
180,078
1,057,058
VF Corp.
195,935
3,366,163
Whirlpool Corp.
37,124
1,611,924
Wolverine World Wide, Inc.
46,104
809,125
YETI Holdings, Inc. *
47,461
2,276,704
 
262,789,869
 
Consumer Services 1.7%
Accel Entertainment, Inc. *
31,300
372,157
ADT, Inc.
345,240
2,316,560
Airbnb, Inc., Class A *
250,569
33,403,353
Aramark
155,555
8,303,526
Biglari Holdings, Inc., Class B *
400
116,192
BJ's Restaurants, Inc. *
12,955
609,533
Black Rock Coffee Bar, Inc., Class A *
10,998
91,503
SECURITY
NUMBER
OF SHARES
VALUE ($)
Bloomin' Brands, Inc.
44,890
378,872
Booking Holdings, Inc.
476,568
79,791,780
Boyd Gaming Corp.
33,500
2,769,780
Bright Horizons Family Solutions,
Inc. *
33,795
2,116,243
Brinker International, Inc. *
25,622
3,648,060
Caesars Entertainment, Inc. *
123,339
3,582,998
Carnival Corp. Ltd.
760,368
21,335,926
Carriage Services, Inc.
7,528
310,078
Cava Group, Inc. *
59,406
4,613,470
Cheesecake Factory, Inc.
26,093
1,723,182
Chipotle Mexican Grill, Inc. *
770,407
24,545,167
Choice Hotels International, Inc. (a)
12,500
1,361,000
Churchill Downs, Inc.
39,450
3,440,435
Coursera, Inc. *
136,332
734,830
Covista, Inc. *
20,540
2,419,612
Cracker Barrel Old Country Store,
Inc.
14,932
505,000
Darden Restaurants, Inc.
68,666
14,001,684
Dave & Buster's Entertainment, Inc. *
15,802
211,273
Dine Brands Global, Inc.
12,159
381,549
Domino's Pizza, Inc.
18,090
5,618,392
DoorDash, Inc., Class A *
221,652
35,306,947
DraftKings, Inc., Class A *
292,743
7,169,276
Driven Brands Holdings, Inc. *
35,015
484,608
Duolingo, Inc. *
23,151
2,578,095
Dutch Bros, Inc., Class A *
74,938
4,346,404
El Pollo Loco Holdings, Inc. *
12,037
178,990
Expedia Group, Inc.
69,643
15,724,693
First Watch Restaurant Group, Inc. *
27,448
319,220
Flutter Entertainment PLC *
103,452
10,032,775
Frontdoor, Inc. *
43,551
2,703,211
Global Business Travel Group I *
71,728
669,940
Graham Holdings Co., Class B
2,012
2,207,748
Grand Canyon Education, Inc. *
16,846
2,524,373
H&R Block, Inc.
74,256
2,858,113
Hilton Grand Vacations, Inc. *
37,519
1,951,738
Hilton Worldwide Holdings, Inc.
135,666
44,452,322
Hyatt Hotels Corp., Class A
24,443
4,432,983
Jack in the Box, Inc. *(a)
10,900
135,705
KinderCare Learning Cos., Inc. *
30,636
117,642
Krispy Kreme, Inc. *
70,788
249,174
Kura Sushi USA, Inc., Class A *
3,998
224,648
Las Vegas Sands Corp.
180,027
9,103,965
Laureate Education, Inc. *
77,470
2,478,265
Liberty Live Holdings, Inc., Class C *
42,717
4,233,255
Life Time Group Holdings, Inc. *
90,675
2,999,529
Lincoln Educational Services Corp. *
17,219
797,584
Lindblad Expeditions Holdings, Inc. *
32,128
737,338
Lucky Strike Entertainment Corp.,
Class A (a)
18,097
148,214
Marriott International, Inc., Class A
130,072
48,855,043
Marriott Vacations Worldwide Corp.
16,062
1,363,343
Matthews International Corp.,
Class A
16,840
446,934
McDonald's Corp.
421,768
117,757,626
McGraw Hill, Inc. *
14,000
168,560
MGM Resorts International *
113,839
4,971,349
Monarch Casino & Resort, Inc.
7,088
852,403
Navan, Inc., Class A *
24,641
526,578
Norwegian Cruise Line Holdings
Ltd. *
268,816
4,930,085
OneSpaWorld Holdings Ltd.
62,301
1,479,649
Papa John's International, Inc. (a)
18,897
646,466
Penn Entertainment, Inc. *
75,895
1,429,103
Perdoceo Education Corp.
37,739
1,221,989
Phoenix Education Partners, Inc.
2,500
75,600
Planet Fitness, Inc., Class A *
49,043
2,624,291
6
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Portillo's, Inc., Class A *
66,390
284,813
Pursuit Attractions & Hospitality,
Inc. *
11,440
512,169
RCI Hospitality Holdings, Inc.
6,000
152,220
Red Rock Resorts, Inc., Class A
27,834
1,624,949
Royal Caribbean Cruises Ltd.
148,988
42,406,454
Rush Street Interactive, Inc. *
60,327
1,528,686
Sabre Corp. *
243,463
428,495
Serve Robotics, Inc. *(a)
42,695
399,198
Service Corp. International
81,866
6,155,505
Shake Shack, Inc., Class A *
24,804
1,595,145
SHARPLINK, Inc. *
121,407
741,797
Six Flags Entertainment Corp. *
60,023
1,261,083
Starbucks Corp.
674,702
66,903,450
Strategic Education, Inc.
13,865
1,064,139
Stride, Inc. *
24,541
2,267,098
Sweetgreen, Inc., Class A *
70,511
702,290
Target Hospitality Corp. *
18,754
325,569
Texas Roadhouse, Inc.
38,683
6,986,923
Travel & Leisure Co.
38,489
2,617,252
United Parks & Resorts, Inc. *
16,507
662,426
Universal Technical Institute, Inc. *
31,432
1,175,871
Vail Resorts, Inc. (a)
20,730
2,769,528
Wendy's Co.
98,853
761,168
Wingstop, Inc.
16,164
2,537,101
Wyndham Hotels & Resorts, Inc.
44,763
3,592,678
Wynn Resorts Ltd.
49,500
5,010,390
Xponential Fitness, Inc., Class A *
25,000
137,250
Yum! Brands, Inc.
164,350
24,315,583
 
744,137,159
 
Consumer Staples Distribution & Retail 1.7%
Albertsons Cos., Inc., Class A
218,527
3,411,206
Andersons, Inc.
21,232
1,498,767
BJ's Wholesale Club Holdings, Inc. *
77,476
6,607,153
Casey's General Stores, Inc.
21,900
16,800,366
Chefs' Warehouse, Inc. *
22,357
1,711,205
Costco Wholesale Corp.
262,906
251,422,266
Dollar General Corp.
129,893
14,367,465
Dollar Tree, Inc. *
109,448
12,744,125
Grocery Outlet Holding Corp. *
45,075
383,588
Ingles Markets, Inc., Class A
7,780
688,219
Kroger Co.
344,645
21,419,687
Maplebear, Inc. *
109,186
4,345,603
Natural Grocers by Vitamin Cottage,
Inc.
6,292
184,733
Performance Food Group Co. *
92,810
9,113,014
PriceSmart, Inc.
14,613
2,484,064
Sprouts Farmers Market, Inc. *
57,345
4,737,844
Sysco Corp.
284,116
21,538,834
Target Corp.
268,471
34,114,610
U.S. Foods Holding Corp. *
131,391
10,754,353
United Natural Foods, Inc. *
38,629
1,983,599
Walmart, Inc.
2,595,390
300,416,392
Weis Markets, Inc.
5,703
416,148
 
721,143,241
 
Energy 3.3%
Antero Midstream Corp.
195,524
4,098,183
Antero Resources Corp. *
171,491
6,130,803
APA Corp.
211,752
7,714,125
Archrock, Inc.
102,936
3,447,327
Atlas Energy Solutions, Inc.
47,038
785,064
Baker Hughes Co.
584,369
37,329,492
BKV Corp. *
21,377
567,346
Bristow Group, Inc.
16,536
688,559
Cactus, Inc., Class A
40,731
2,364,027
SECURITY
NUMBER
OF SHARES
VALUE ($)
California Resources Corp.
46,266
2,743,111
Calumet, Inc. *
39,896
1,415,111
Centrus Energy Corp., Class A *
10,990
2,005,345
Cheniere Energy, Inc.
127,309
28,626,702
Chevron Corp.
1,110,104
202,549,576
Chord Energy Corp.
33,712
4,445,601
Clean Energy Fuels Corp. *
103,757
211,664
CNX Resources Corp. *
84,027
2,830,870
Comstock Resources, Inc. *
47,038
627,017
ConocoPhillips
726,582
82,815,816
Core Laboratories, Inc.
25,730
351,729
Core Natural Resources, Inc.
29,869
2,641,614
Crescent Energy Co., Class A
144,455
1,669,900
CVR Energy, Inc.
17,075
567,232
Delek U.S. Holdings, Inc.
34,822
1,549,927
Devon Energy Corp.
681,443
30,317,399
Diamondback Energy, Inc.
114,338
21,893,440
Diversified Energy Co.
38,418
558,982
DMC Global, Inc. *
10,365
70,586
Dorian LPG Ltd.
21,236
854,112
DT Midstream, Inc.
60,993
8,537,800
EOG Resources, Inc.
321,663
42,903,411
EQT Corp.
367,985
20,213,416
Excelerate Energy, Inc., Class A
13,330
439,090
Expand Energy Corp.
141,909
13,194,699
Expro Group Holdings NV *
58,585
865,300
Exxon Mobil Corp.
2,474,110
359,389,218
Flowco Holdings, Inc., Class A
20,552
480,711
Granite Ridge Resources, Inc.
31,547
153,318
Green Plains, Inc. *
37,904
593,956
Gulfport Energy Corp. *
10,110
1,704,445
Halliburton Co.
496,234
19,278,691
Helix Energy Solutions Group, Inc. *
84,389
789,037
Helmerich & Payne, Inc.
58,603
2,235,705
HF Sinclair Corp.
92,780
6,484,394
HighPeak Energy, Inc. (a)
15,000
106,500
Innovex International, Inc. *
21,521
574,826
International Seaways, Inc.
24,572
1,896,713
Kinder Morgan, Inc.
1,163,185
36,151,790
Kinetik Holdings, Inc.
26,309
1,208,899
Kodiak Gas Services, Inc.
55,217
3,691,257
Kosmos Energy Ltd. *
339,948
951,854
Liberty Energy, Inc.
97,540
2,854,020
Magnolia Oil & Gas Corp., Class A
107,221
2,933,567
Marathon Petroleum Corp.
174,221
43,340,958
Matador Resources Co.
69,495
3,724,932
Murphy Oil Corp.
78,920
2,856,115
Nabors Industries Ltd. *
9,065
839,691
NextDecade Corp. *
83,252
658,523
Noble Corp. PLC
72,994
3,392,761
Northern Oil & Gas, Inc.
59,490
1,295,097
NOV, Inc.
216,727
4,325,871
Occidental Petroleum Corp.
425,340
24,087,004
Oceaneering International, Inc. *
58,654
2,242,342
ONEOK, Inc.
372,162
31,239,278
Ovintiv, Inc.
164,190
9,201,208
Par Pacific Holdings, Inc. *
28,838
1,619,542
Patterson-UTI Energy, Inc.
206,139
2,310,818
PBF Energy, Inc., Class A
49,003
1,994,422
Peabody Energy Corp.
74,305
2,009,950
Permian Resources Corp., Class A
433,645
8,338,993
Phillips 66
238,783
41,997,154
ProPetro Holding Corp. *
58,691
895,625
Range Resources Corp.
139,541
5,435,122
REX American Resources Corp. *
16,264
760,505
Riley Exploration Permian, Inc.
6,262
208,274
RPC, Inc.
49,416
327,134
Sable Offshore Corp. *
73,082
1,070,651
SandRidge Energy, Inc.
17,244
252,970
  
7

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Seadrill Ltd. *
36,919
1,741,469
Select Water Solutions, Inc.
68,802
1,233,620
SLB Ltd.
884,984
48,275,877
SM Energy Co.
133,639
4,104,054
Solaris Energy Infrastructure, Inc.
26,460
1,840,028
Talos Energy, Inc. *
74,816
1,097,551
Targa Resources Corp.
127,405
32,497,193
TechnipFMC PLC
240,891
16,481,762
TETRA Technologies, Inc. *
78,829
806,421
Texas Pacific Land Corp.
34,587
13,592,691
Tidewater, Inc. *
26,556
1,951,600
Transocean Ltd. *
597,545
3,698,804
Uranium Energy Corp. *
285,659
3,933,524
VAALCO Energy, Inc.
61,265
319,803
Valaris Ltd. *
37,623
3,485,019
Valero Energy Corp.
180,701
44,239,219
Venture Global, Inc., Class A
283,049
3,407,910
Viper Energy, Inc., Class A
109,561
4,985,026
Vitesse Energy, Inc.
17,811
307,774
Weatherford International PLC
42,912
4,447,400
Williams Cos., Inc.
722,077
51,549,077
World Kinect Corp.
34,187
984,928
 
1,418,908,967
 
Equity Real Estate Investment Trusts (REITs) 2.0%
Acadia Realty Trust
79,620
1,753,232
Agree Realty Corp.
70,806
5,250,265
AH Realty Trust, Inc.
52,371
356,647
Alexander's, Inc.
1,052
258,908
Alexandria Real Estate Equities, Inc.
91,975
4,569,318
American Assets Trust, Inc.
27,413
638,723
American Healthcare REIT, Inc.
104,671
5,117,365
American Homes 4 Rent, Class A
192,128
6,163,466
American Tower Corp.
276,764
51,743,797
Americold Realty Trust, Inc.
167,436
2,627,071
Apple Hospitality REIT, Inc.
131,604
1,933,263
AvalonBay Communities, Inc.
83,464
15,233,015
Brandywine Realty Trust
101,757
315,447
Brixmor Property Group, Inc.
181,700
5,552,752
Broadstone Net Lease, Inc.
109,930
2,223,884
BXP, Inc.
86,974
5,219,310
Camden Property Trust
61,101
6,510,923
CareTrust REIT, Inc.
131,466
5,366,442
CBL & Associates Properties, Inc.
11,811
567,991
Centerspace
9,439
636,944
Chatham Lodging Trust
30,695
333,041
Community Healthcare Trust, Inc.
16,000
275,520
COPT Defense Properties
65,630
2,104,098
Cousins Properties, Inc.
98,423
2,638,721
Crown Castle, Inc.
257,642
23,574,243
CubeSmart
136,607
5,464,280
Curbline Properties Corp.
62,414
1,818,120
DiamondRock Hospitality Co.
121,035
1,330,175
Digital Realty Trust, Inc.
191,374
36,361,060
Diversified Healthcare Trust
132,496
1,102,367
Douglas Emmett, Inc.
98,912
1,151,336
Easterly Government Properties, Inc.
25,602
613,936
EastGroup Properties, Inc.
31,436
6,347,243
Empire State Realty Trust, Inc.,
Class A
70,058
401,432
EPR Properties
44,691
2,549,622
Equinix, Inc.
58,072
62,023,219
Equity LifeStyle Properties, Inc.
114,071
7,046,166
Equity Residential
204,232
13,366,984
Essential Properties Realty Trust, Inc.
124,046
3,793,327
Essex Property Trust, Inc.
38,328
10,449,746
Extra Space Storage, Inc.
125,997
18,182,627
Federal Realty Investment Trust
46,072
5,511,593
SECURITY
NUMBER
OF SHARES
VALUE ($)
First Industrial Realty Trust, Inc.
77,598
4,800,988
Four Corners Property Trust, Inc.
65,275
1,625,347
Gaming & Leisure Properties, Inc.
168,154
7,898,193
Getty Realty Corp.
36,732
1,194,892
Gladstone Commercial Corp.
28,551
360,028
Global Net Lease, Inc.
114,565
1,073,474
Healthcare Realty Trust, Inc.
210,600
4,195,152
Healthpeak Properties, Inc.
408,945
7,831,297
Highwoods Properties, Inc.
65,524
1,710,176
Host Hotels & Resorts, Inc.
378,568
8,699,493
Hudson Pacific Properties, Inc. *
22,706
272,018
Independence Realty Trust, Inc.
140,905
2,286,888
Industrial Logistics Properties Trust
35,112
314,955
Innovative Industrial Properties, Inc.
15,583
903,658
InvenTrust Properties Corp.
45,765
1,516,194
Invitation Homes, Inc.
336,292
9,836,541
Iron Mountain, Inc.
175,618
22,523,008
JBG SMITH Properties
36,904
541,382
Kilroy Realty Corp.
64,430
2,208,016
Kimco Realty Corp.
398,899
9,605,488
Kite Realty Group Trust
129,801
3,559,143
Lamar Advertising Co., Class A
50,933
7,765,245
Lineage, Inc.
34,893
1,549,598
LTC Properties, Inc.
27,419
1,025,745
LXP Industrial Trust
34,366
1,774,660
Macerich Co.
162,930
3,669,184
Medical Properties Trust, Inc.
308,707
1,577,493
Mid-America Apartment
Communities, Inc.
68,880
8,890,342
Millrose Properties, Inc.
91,704
2,587,887
National Health Investors, Inc.
27,681
2,028,740
National Storage Affiliates Trust
40,819
1,740,930
NETSTREIT Corp. (a)
57,066
1,156,157
NexPoint Diversified Real Estate
Trust
26,190
139,855
NexPoint Residential Trust, Inc.
12,730
369,934
NNN REIT, Inc.
111,301
4,954,008
Omega Healthcare Investors, Inc.
175,835
8,222,045
One Liberty Properties, Inc.
10,345
243,625
Orion Properties, Inc.
24,025
71,594
Outfront Media, Inc.
85,151
2,745,268
Park Hotels & Resorts, Inc.
128,180
1,554,823
Pebblebrook Hotel Trust
68,712
1,047,858
Phillips Edison & Co., Inc.
75,739
3,040,921
Piedmont Realty Trust, Inc., Class A *
73,422
610,137
Prologis, Inc.
550,275
78,947,954
Public Storage
93,684
28,450,894
Rayonier, Inc.
166,154
3,470,957
Realty Income Corp.
544,238
33,350,905
Regency Centers Corp.
96,676
7,477,889
Rexford Industrial Realty, Inc.
135,832
4,817,961
RLJ Lodging Trust
87,482
851,200
Ryman Hospitality Properties, Inc.
37,066
4,267,409
Sabra Health Care REIT, Inc.
149,600
2,975,544
Safehold, Inc.
27,389
410,013
Saul Centers, Inc.
7,449
258,182
SBA Communications Corp.
63,163
12,832,195
Service Properties Trust
338,345
605,638
Sila Realty Trust, Inc.
32,343
978,052
Simon Property Group, Inc.
192,070
39,357,064
SITE Centers Corp.
31,955
161,373
SL Green Realty Corp.
41,656
1,891,182
Smartstop Self Storage REIT, Inc.
33,994
1,062,312
STAG Industrial, Inc.
112,734
4,269,237
Summit Hotel Properties, Inc.
63,229
364,831
Sun Communities, Inc.
68,440
8,463,290
Sunstone Hotel Investors, Inc.
121,809
1,317,973
Tanger, Inc.
70,461
2,541,528
Terreno Realty Corp.
61,244
4,023,118
8
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
UDR, Inc.
180,699
6,667,793
UMH Properties, Inc.
46,174
693,533
Universal Health Realty Income Trust
8,110
336,159
Urban Edge Properties
74,535
1,672,565
Ventas, Inc.
280,915
23,714,844
VICI Properties, Inc.
645,281
18,209,830
Vornado Realty Trust
95,387
3,219,311
Welltower, Inc.
413,089
84,819,564
Weyerhaeuser Co.
425,400
10,426,554
Whitestone REIT
26,363
503,006
WP Carey, Inc.
129,316
9,623,697
Xenia Hotels & Resorts, Inc.
59,946
1,041,262
 
882,274,818
 
Financial Services 6.7%
Acadian Asset Management, Inc.
14,901
1,077,491
Adamas Trust, Inc.
49,192
452,566
Affiliated Managers Group, Inc.
16,447
4,980,974
Affirm Holdings, Inc., Class A *
173,047
12,744,912
AGNC Investment Corp.
657,763
6,847,313
AI Financial Corp. *
61,114
52,008
Alerus Financial Corp.
14,118
403,492
Ally Financial, Inc.
166,323
7,120,288
AlTi Global, Inc. *
26,000
85,800
American Express Co.
317,525
100,487,137
Ameriprise Financial, Inc.
54,039
24,085,723
Annaly Capital Management, Inc.
426,570
9,320,555
Apollo Commercial Real Estate
Finance, Inc.
74,435
815,808
Apollo Global Management, Inc.
275,091
35,406,963
Arbor Realty Trust, Inc. (a)
116,377
669,168
ARES Management Corp., Class A
122,053
15,683,811
ARMOUR Residential REIT, Inc.
67,908
1,164,622
Artisan Partners Asset Management,
Inc., Class A
41,600
1,557,504
Atlanticus Holdings Corp. *
3,269
281,853
Bank of New York Mellon Corp.
408,365
56,938,332
Berkshire Hathaway, Inc., Class B *
1,085,946
515,259,658
BGC Group, Inc., Class A
218,435
2,282,646
Bitgo Holdings, Inc., Class A *
10,000
60,100
Blackrock, Inc.
85,506
89,514,521
Blackstone Mortgage Trust, Inc.,
Class A
94,911
1,734,973
Blackstone, Inc.
443,327
51,855,959
Block, Inc. *
326,023
24,686,462
Blue Owl Capital, Inc.
372,761
3,831,983
Bread Financial Holdings, Inc.
25,448
2,266,653
BrightSpire Capital, Inc.
87,387
504,223
Cannae Holdings, Inc.
30,439
451,410
Capital One Financial Corp.
370,771
69,678,994
Carlyle Group, Inc.
153,852
6,989,496
Cass Information Systems, Inc.
6,983
321,428
Cboe Global Markets, Inc.
62,051
20,697,732
Charles Schwab Corp. (c)
981,771
85,757,697
Chime Financial, Inc., Class A *
21,000
390,600
Chimera Investment Corp.
47,503
646,991
Claros Mortgage Trust, Inc. *
66,838
162,416
CME Group, Inc.
213,783
58,478,202
Cohen & Steers, Inc.
15,914
1,110,797
Coinbase Global, Inc., Class A *
132,650
25,074,830
Corebridge Financial, Inc.
152,598
4,120,146
Corpay, Inc. *
41,301
14,942,702
Credit Acceptance Corp. *
3,547
2,034,701
Dave, Inc. *
6,336
1,790,300
DigitalBridge Group, Inc.
97,809
1,529,733
Donnelley Financial Solutions, Inc. *
16,204
643,137
Dynex Capital, Inc.
118,936
1,556,872
Ellington Financial, Inc.
74,619
1,012,580
SECURITY
NUMBER
OF SHARES
VALUE ($)
Enact Holdings, Inc.
15,826
661,369
Encore Capital Group, Inc. *
12,966
1,036,372
Enova International, Inc. *
14,616
2,360,630
Equitable Holdings, Inc.
168,711
6,976,200
Essent Group Ltd.
57,040
3,302,046
Euronet Worldwide, Inc. *
22,302
1,616,449
Evercore, Inc., Class A
22,971
7,829,895
EVERTEC, Inc.
37,325
913,343
EZCORP, Inc., Class A *
34,885
1,089,807
FactSet Research Systems, Inc.
21,877
5,370,147
Federal Agricultural Mortgage Corp.,
Class C
5,714
1,015,892
Federated Hermes, Inc.
43,481
2,437,545
Fidelity National Information
Services, Inc.
305,649
13,139,851
Figure Technology Solutions, Inc.,
Class A *
19,244
680,275
FirstCash Holdings, Inc.
22,813
5,016,807
Fiserv, Inc. *
317,285
17,945,640
Flywire Corp. *
63,148
1,012,894
Franklin BSP Realty Trust, Inc.
46,966
407,195
Franklin Resources, Inc.
180,673
5,604,476
Galaxy Digital, Inc., Class A *
114,814
3,396,198
GCM Grosvenor, Inc., Class A
32,476
345,220
Gemini Space Station, Inc.,
Class A *(a)
10,000
52,700
Global Payments, Inc.
140,676
10,622,445
Goldman Sachs Group, Inc.
177,681
182,222,526
Granite Point Mortgage Trust, Inc.
31,501
45,991
Green Dot Corp., Class A *
33,081
425,752
HA Sustainable Infrastructure
Capital, Inc.
75,461
3,093,901
Hamilton Lane, Inc., Class A
23,579
2,054,438
Houlihan Lokey, Inc.
32,080
4,544,453
Innventure, Inc. *(a)
18,548
98,861
Interactive Brokers Group, Inc.,
Class A
263,371
22,905,376
Intercontinental Exchange, Inc.
337,063
49,834,765
International Money Express, Inc. *
17,362
259,909
Invesco Ltd.
261,603
7,445,221
Invesco Mortgage Capital, Inc.
47,696
375,368
Jack Henry & Associates, Inc.
42,723
5,823,999
Jackson Financial, Inc., Class A
41,866
4,316,803
Janus Henderson Group PLC
73,115
3,780,777
Jefferies Financial Group, Inc.
97,827
5,157,439
Jefferson Capital, Inc.
7,000
118,930
KKR & Co., Inc.
405,690
38,921,899
KKR Real Estate Finance Trust, Inc.
28,000
186,760
Ladder Capital Corp.
63,051
644,381
Lazard, Inc., Class A
66,856
3,164,294
LendingClub Corp. *
66,012
1,178,314
LendingTree, Inc. *
6,491
247,956
LPL Financial Holdings, Inc.
47,212
12,925,229
MarketAxess Holdings, Inc.
21,622
2,811,725
Marqeta, Inc., Class A *
242,342
983,909
Mastercard, Inc., Class A
482,478
238,334,482
Merchants Bancorp
17,882
842,957
MFA Financial, Inc.
61,239
587,894
MGIC Investment Corp.
129,994
3,278,449
Miami International Holdings, Inc. *
17,703
836,467
Moelis & Co., Class A
44,389
2,986,936
Moody's Corp.
90,937
41,217,195
Morgan Stanley
712,027
148,101,616
Morningstar, Inc.
13,784
2,508,964
MSCI, Inc.
43,532
27,485,234
Nasdaq, Inc.
265,337
24,548,979
Navient Corp.
40,285
344,840
NCR Atleos Corp. *
44,064
1,965,254
  
9

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Nelnet, Inc., Class A
8,378
1,093,915
NerdWallet, Inc., Class A *
22,075
189,845
NewtekOne, Inc.
14,258
197,901
NMI Holdings, Inc., Class A *
44,558
1,599,632
Northern Trust Corp.
110,131
18,221,174
OneMain Holdings, Inc.
70,293
3,887,906
Open Lending Corp., Class A *
65,836
150,106
Oppenheimer Holdings, Inc., Class A
4,000
366,680
Orchid Island Capital, Inc. (a)
99,335
673,491
Paymentus Holdings, Inc., Class A *
29,809
700,213
Payoneer Global, Inc. *
180,609
939,167
PayPal Holdings, Inc.
544,851
24,382,082
PennyMac Financial Services, Inc.
16,537
1,386,958
PennyMac Mortgage Investment
Trust
50,848
531,870
Perella Weinberg Partners, Class A
40,489
694,791
Piper Sandler Cos.
39,498
3,097,038
PJT Partners, Inc., Class A
14,407
2,202,830
PRA Group, Inc. *
20,961
319,865
Priority Technology Holdings, Inc. *
16,000
102,240
PROG Holdings, Inc.
23,745
873,104
Radian Group, Inc.
79,735
2,722,950
Raymond James Financial, Inc.
103,711
14,873,195
Ready Capital Corp.
40,075
71,334
Redwood Trust, Inc.
69,373
376,002
Remitly Global, Inc. *
101,143
2,024,883
Repay Holdings Corp. *
35,557
137,961
Ridgepost Capital, Inc., Class A
36,695
303,835
Rithm Capital Corp.
323,208
3,012,299
Robinhood Markets, Inc., Class A *
468,040
44,136,172
Rocket Cos., Inc., Class A *
571,450
8,291,740
S&P Global, Inc.
181,144
76,805,056
SEI Investments Co.
54,833
4,818,724
Sezzle, Inc. *
9,980
1,179,137
Shift4 Payments, Inc., Class A *(a)
40,019
1,783,247
SLM Corp.
119,037
2,633,098
SoFi Technologies, Inc. *
759,093
13,830,674
Starwood Property Trust, Inc.
206,109
3,520,342
State Street Corp.
166,029
25,840,754
StepStone Group, Inc., Class A
42,600
2,100,606
Stifel Financial Corp.
90,412
6,342,402
StoneX Group, Inc. *
42,444
4,811,027
Synchrony Financial
206,039
14,719,426
T. Rowe Price Group, Inc.
129,461
13,532,558
Toast, Inc., Class A *
283,703
7,384,789
TPG RE Finance Trust, Inc.
45,894
385,510
TPG, Inc.
76,378
3,251,411
Tradeweb Markets, Inc., Class A
68,349
6,851,987
Twenty One Capital, Inc., Class A *(a)
207,926
1,522,018
Two Harbors Investment Corp.
59,582
734,646
Upstart Holdings, Inc. *
53,173
1,796,716
UWM Holdings Corp.
141,387
432,644
Velocity Financial, Inc. *
7,693
134,628
Victory Capital Holdings, Inc., Class A
28,155
2,380,505
Virtu Financial, Inc., Class A
47,571
2,385,686
Virtus Investment Partners, Inc.
3,623
518,198
Visa, Inc., Class A
995,587
324,919,773
Voya Financial, Inc.
56,118
4,557,904
Walker & Dunlop, Inc.
19,865
997,024
Waterstone Financial, Inc.
11,312
209,385
Wealthfront Corp. *
25,000
305,500
Western Union Co.
186,352
1,515,042
WEX, Inc. *
19,751
2,863,105
WisdomTree, Inc.
68,200
1,299,210
World Acceptance Corp. *
1,661
274,214
 
2,883,204,026
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Food, Beverage & Tobacco 1.9%
Altria Group, Inc.
996,427
69,331,391
Archer-Daniels-Midland Co.
284,092
22,664,860
B&G Foods, Inc.
50,998
208,582
Beyond Meat, Inc. *
270,724
213,466
Boston Beer Co., Inc., Class A *
4,521
801,483
Brown-Forman Corp., Class B
137,685
3,541,258
Bunge Global SA
79,458
9,797,171
Cal-Maine Foods, Inc.
26,767
2,000,030
Campbell's Co. (a)
114,959
2,426,784
Celsius Holdings, Inc. *
96,663
3,215,978
Coca-Cola Co.
2,293,728
181,227,449
Coca-Cola Consolidated, Inc.
33,290
5,767,825
Conagra Brands, Inc.
281,909
3,743,752
Constellation Brands, Inc., Class A
82,652
11,473,751
Darling Ingredients, Inc. *
93,607
5,532,174
Flowers Foods, Inc.
124,847
953,831
Fresh Del Monte Produce, Inc.
17,985
578,038
Freshpet, Inc. *
30,936
1,596,298
General Mills, Inc.
314,287
10,626,043
Hershey Co.
87,236
16,926,401
Hormel Foods Corp.
171,803
3,990,984
Ingredion, Inc.
37,902
3,844,779
J&J Snack Foods Corp.
8,993
684,547
J.M. Smucker Co.
63,170
6,519,144
John B Sanfilippo & Son, Inc.
4,938
369,906
Keurig Dr. Pepper, Inc.
803,612
24,132,468
Kraft Heinz Co.
502,250
12,059,022
Lamb Weston Holdings, Inc.
81,305
3,510,750
Marzetti Co.
11,880
1,329,847
McCormick & Co., Inc. - Non Voting
Shares
149,808
7,096,405
MGP Ingredients, Inc.
8,132
143,530
Mission Produce, Inc. *
35,507
395,548
Molson Coors Beverage Co., Class B
101,527
4,013,362
Mondelez International, Inc., Class A
757,964
46,364,658
Monster Beverage Corp. *
422,345
37,200,148
National Beverage Corp. *
13,228
489,304
Once Upon a Farm PBC *(a)
10,435
161,221
PepsiCo, Inc.
809,792
116,763,908
Philip Morris International, Inc.
922,304
163,598,283
Pilgrim's Pride Corp.
25,161
712,308
Post Holdings, Inc. *
24,730
2,271,203
Primo Brands Corp.
150,367
3,729,102
Seaboard Corp.
146
741,962
Seneca Foods Corp., Class A *
3,050
438,559
Simply Good Foods Co. *
52,331
602,853
Tootsie Roll Industries, Inc.
11,482
432,986
Turning Point Brands, Inc.
10,477
889,812
Tyson Foods, Inc., Class A
166,474
10,158,243
Universal Corp.
13,896
720,786
Utz Brands, Inc.
53,546
391,957
Vita Coco Co., Inc. *
25,281
1,899,362
Vital Farms, Inc. *
21,907
219,289
Westrock Coffee Co. *
22,000
176,660
 
808,679,461
 
Health Care Equipment & Services 3.0%
Abbott Laboratories
1,030,397
88,201,983
Acadia Healthcare Co., Inc. *
54,166
1,256,651
Accendra Health, Inc. *
61,272
174,012
AdaptHealth Corp. *
63,197
640,186
Addus HomeCare Corp. *
11,424
1,047,352
agilon health, Inc. *
11,084
1,022,832
Align Technology, Inc. *
40,058
7,008,147
Alignment Healthcare, Inc. *
99,427
1,523,222
Alphatec Holdings, Inc. *
63,880
495,070
10
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
AMN Healthcare Services, Inc. *
22,000
637,340
AngioDynamics, Inc. *
23,038
264,476
Ardent Health, Inc. *
15,000
138,450
Artivion, Inc. *
25,635
568,841
Astrana Health, Inc. *
26,317
990,046
AtriCure, Inc. *
29,716
822,242
Avanos Medical, Inc. *
26,000
644,800
Aveanna Healthcare Holdings, Inc. *
35,314
253,201
Axogen, Inc. *
32,765
1,293,562
Baxter International, Inc.
301,760
5,667,053
Becton Dickinson & Co.
168,760
24,827,971
Beta Bionics, Inc. *
23,230
281,548
Billiontoone, Inc., Class A *
2,500
247,475
Bioventus, Inc., Class A *
20,431
173,868
Boston Scientific Corp. *
876,301
42,334,101
BrightSpring Health Services, Inc. *
77,980
4,809,806
Brookdale Senior Living, Inc. *
133,791
1,721,890
Butterfly Network, Inc. *
119,179
542,264
Cardinal Health, Inc.
139,139
27,382,555
Castle Biosciences, Inc. *
18,371
387,261
Cencora, Inc.
114,773
30,915,255
Centene Corp. *
276,355
16,470,758
Ceribell, Inc. *
12,055
222,415
Certara, Inc. *
74,790
435,278
Cerus Corp. *
152,391
463,269
Chemed Corp.
8,514
3,630,455
Cigna Group
155,581
43,158,169
Claritev Corp. *(a)
5,000
125,600
Clover Health Investments Corp. *
241,089
959,534
Community Health Systems, Inc. *
70,316
191,260
Concentra Group Holdings Parent,
Inc.
72,455
1,801,956
CONMED Corp.
17,906
639,244
Cooper Cos., Inc. *
116,801
7,149,389
CorVel Corp. *
18,666
1,152,626
Cross Country Healthcare, Inc. *
20,522
268,633
CVS Health Corp.
752,084
68,424,602
DaVita, Inc. *
20,401
3,965,138
Dentsply Sirona, Inc.
117,561
1,230,864
Dexcom, Inc. *
227,502
16,775,998
Doximity, Inc., Class A *
80,747
1,727,986
Edwards Lifesciences Corp. *
342,439
29,610,700
Elevance Health, Inc.
130,397
51,270,796
Embecta Corp.
40,349
136,380
Encompass Health Corp.
58,417
6,183,439
Enovis Corp. *
30,173
684,324
Ensign Group, Inc.
33,717
5,652,655
Envista Holdings Corp. *
102,086
2,404,125
Evolent Health, Inc., Class A *
86,308
340,917
Fulgent Genetics, Inc. *
15,924
288,861
GE HealthCare Technologies, Inc.
271,613
16,932,354
GeneDx Holdings Corp. *
12,226
635,630
Glaukos Corp. *
34,174
3,531,883
Globus Medical, Inc., Class A *
66,107
5,412,841
GoodRx Holdings, Inc., Class A *
51,636
150,777
Guardant Health, Inc. *
76,100
9,869,409
Haemonetics Corp. *
26,981
1,829,582
HCA Healthcare, Inc.
92,960
35,189,078
Health Catalyst, Inc. *
109,058
150,500
HealthEquity, Inc. *
51,177
4,503,064
HealthStream, Inc.
12,523
312,699
HeartFlow, Inc. *
10,000
309,800
Henry Schein, Inc. *
58,392
4,471,659
Hims & Hers Health, Inc. *
122,203
3,195,608
Hinge Health, Inc., Class A *
9,000
505,890
Humana, Inc.
71,436
21,817,983
ICU Medical, Inc. *
14,942
2,022,997
IDEXX Laboratories, Inc. *
47,343
26,679,201
Innovage Holding Corp. *
12,684
96,272
SECURITY
NUMBER
OF SHARES
VALUE ($)
Inspire Medical Systems, Inc. *
15,479
640,211
Insulet Corp. *
41,919
6,075,740
Integer Holdings Corp. *
20,828
1,861,607
Integra LifeSciences Holdings Corp. *
39,735
637,349
Intuitive Surgical, Inc. *
210,197
89,258,054
iRadimed Corp.
4,917
445,775
IRhythm Holdings, Inc. *
18,379
2,093,368
Kestra Medical Technologies Ltd. *
8,000
170,080
Labcorp Holdings, Inc.
49,192
12,792,872
Lantheus Holdings, Inc. *
38,326
3,805,772
LeMaitre Vascular, Inc.
13,025
1,232,816
LifeStance Health Group, Inc. *
123,175
949,679
LivaNova PLC *
31,491
2,324,036
Lumexa Imaging Holdings, Inc. *
18,094
140,771
Masimo Corp. *
27,258
4,864,190
McKesson Corp.
72,419
53,766,762
Medline, Inc., Class A *
238,344
8,713,857
Medtronic PLC
758,771
56,004,888
Merit Medical Systems, Inc. *
34,888
2,200,037
Molina Healthcare, Inc. *
30,696
5,328,826
Nakamoto, Inc. *
10,127
63,395
National HealthCare Corp.
7,248
1,336,676
Neogen Corp. *
128,645
1,153,946
NeoGenomics, Inc. *
75,477
794,018
Novocure Ltd. *
59,538
1,014,528
NRC Health
11,000
214,830
Omada Health, Inc. *
5,000
89,850
OmniAb, Inc., Class A *(d)
3,072
0
OmniAb, Inc., Class B *(d)
3,072
0
Omnicell, Inc. *
26,432
1,166,708
OPKO Health, Inc. *
330,176
482,057
Option Care Health, Inc. *
97,000
2,024,390
OraSure Technologies, Inc. *
51,155
219,967
Orchestra BioMed Holdings, Inc. *
43,636
170,617
Orthofix Medical, Inc. *
24,938
231,175
OrthoPediatrics Corp. *
11,589
198,983
PACS Group, Inc. *
28,000
1,026,200
Pediatrix Medical Group, Inc. *
51,908
1,118,098
Pennant Group, Inc. *
21,982
752,884
Penumbra, Inc. *
23,095
7,351,139
Phreesia, Inc. *
21,203
209,062
Privia Health Group, Inc. *
71,327
1,534,244
Procept Biorobotics Corp. *
34,826
916,969
Progyny, Inc. *
45,513
1,163,312
Pulse Biosciences, Inc. *(a)
10,923
273,075
Quest Diagnostics, Inc.
64,949
12,658,560
QuidelOrtho Corp. *
32,301
420,559
RadNet, Inc. *
42,391
2,353,972
ResMed, Inc.
85,740
16,339,472
RxSight, Inc. *
21,093
112,426
Schrodinger, Inc. *
33,231
505,111
Select Medical Holdings Corp.
66,830
1,102,695
Senseonics Holdings, Inc. *(a)
22,534
153,006
SI-BONE, Inc. *
21,723
306,294
Sight Sciences, Inc. *
20,000
97,200
Simulations Plus, Inc. *
10,592
181,229
Solventum Corp. *
85,798
6,430,560
STAAR Surgical Co. *
31,609
944,793
STERIS PLC
58,351
12,413,008
Stryker Corp.
204,059
62,256,360
Surgery Partners, Inc. *
49,733
664,433
Tandem Diabetes Care, Inc. *
39,684
682,565
Teladoc Health, Inc. *
105,579
803,456
Teleflex, Inc.
26,589
3,420,409
Tenet Healthcare Corp. *
51,643
9,054,051
TransMedics Group, Inc. *
19,368
1,301,530
TruBridge, Inc. *
8,348
216,714
U.S. Physical Therapy, Inc.
8,652
555,978
UFP Technologies, Inc. *
4,962
1,092,136
  
11

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
UnitedHealth Group, Inc.
536,486
204,030,991
Universal Health Services, Inc.,
Class B
32,656
4,771,368
Varex Imaging Corp. *
24,000
245,520
Veeva Systems, Inc., Class A *
89,688
15,636,206
Waystar Holding Corp. *
67,570
1,345,319
Zimmer Biomet Holdings, Inc.
117,962
9,711,811
 
1,295,876,603
 
Household & Personal Products 0.7%
BellRing Brands, Inc. *
74,858
625,813
Central Garden & Pet Co., Class A *
34,761
1,186,393
Church & Dwight Co., Inc.
139,367
13,327,666
Clorox Co.
72,391
6,516,638
Colgate-Palmolive Co.
477,397
43,027,792
Coty, Inc., Class A *
266,504
567,654
Edgewell Personal Care Co.
26,000
455,520
elf Beauty, Inc. *
35,102
1,965,712
Energizer Holdings, Inc.
35,771
651,748
Estee Lauder Cos., Inc., Class A
145,656
12,956,101
Herbalife Ltd. *
61,765
738,709
Interparfums, Inc.
10,272
969,369
Kenvue, Inc.
1,135,260
19,617,293
Kimberly-Clark Corp.
195,656
19,096,026
Medifast, Inc. *(b)
7,873
98,649
Niagen Bioscience, Inc. *
33,814
130,522
Nu Skin Enterprises, Inc., Class A
27,870
161,367
Oil-Dri Corp. of America
6,683
512,319
Olaplex Holdings, Inc. *
81,272
165,795
Procter & Gamble Co.
1,376,690
197,637,616
Reynolds Consumer Products, Inc.
31,381
680,026
Spectrum Brands Holdings, Inc.
15,263
1,201,045
USANA Health Sciences, Inc. *
6,500
118,950
WD-40 Co.
7,752
1,550,167
 
323,958,890
 
Insurance 1.6%
Abacus Global Management, Inc. (a)
21,503
193,097
Aflac, Inc.
276,330
31,065,019
Allstate Corp.
154,614
31,864,399
American Financial Group, Inc.
40,413
5,245,607
American Integrity Insurance Group,
Inc.
5,000
81,800
American International Group, Inc.
316,748
23,512,204
AMERISAFE, Inc.
10,631
325,840
Aon PLC, Class A
127,125
40,179,127
Arch Capital Group Ltd. *
211,641
18,908,007
Arthur J Gallagher & Co.
151,944
30,557,458
Assurant, Inc.
29,841
7,426,530
Assured Guaranty Ltd.
25,862
1,919,219
Axis Capital Holdings Ltd.
44,936
4,265,774
Baldwin Insurance Group, Inc.,
Class A *
43,249
839,896
Bowhead Specialty Holdings, Inc. *
10,983
292,367
Brighthouse Financial, Inc. *
32,972
2,062,399
Brown & Brown, Inc.
172,715
9,715,219
Chubb Ltd.
215,266
67,104,870
Cincinnati Financial Corp.
92,027
14,486,890
CNA Financial Corp.
11,814
496,897
CNO Financial Group, Inc.
54,773
2,517,915
Donegal Group, Inc., Class A
9,441
160,214
Employers Holdings, Inc.
14,150
615,525
Erie Indemnity Co., Class A
14,817
3,157,058
Everest Group Ltd.
24,075
7,801,022
F&G Annuities & Life, Inc.
22,251
616,798
Fidelity National Financial, Inc.
151,024
7,150,986
First American Financial Corp.
59,760
3,957,905
SECURITY
NUMBER
OF SHARES
VALUE ($)
Genworth Financial, Inc., Class A *
242,839
2,078,702
Globe Life, Inc.
47,874
7,336,212
Goosehead Insurance, Inc., Class A *
14,266
490,608
Hagerty, Inc., Class A *
23,635
241,550
Hanover Insurance Group, Inc.
20,664
3,847,637
Hartford Insurance Group, Inc.
165,607
21,053,618
HCI Group, Inc.
5,969
919,644
Heritage Insurance Holdings, Inc. *
13,097
283,943
Hippo Holdings, Inc. *
13,164
340,553
Horace Mann Educators Corp.
23,222
1,061,942
James River Group Holdings, Inc.
32,343
126,461
Kemper Corp.
34,402
848,697
Kinsale Capital Group, Inc.
13,279
4,047,041
Lemonade, Inc. *
36,994
2,145,652
Lincoln National Corp.
98,219
3,466,148
Loews Corp.
99,670
10,320,828
Markel Group, Inc. *
7,464
13,551,564
Marsh & McLennan Cos., Inc.
286,788
45,877,476
MBIA, Inc. *
30,060
176,452
Mercury General Corp.
15,341
1,503,878
MetLife, Inc.
327,262
27,061,295
Neptune Insurance Holdings, Inc.,
Class A *
20,031
562,270
Octave Specialty Group, Inc. *
20,000
109,600
Old Republic International Corp.
134,300
4,999,989
Oscar Health, Inc., Class A *
126,382
2,809,472
Palomar Holdings, Inc. *
15,348
1,642,850
Primerica, Inc.
19,156
5,171,545
Principal Financial Group, Inc.
117,318
12,156,491
ProAssurance Corp. *
32,232
773,246
Progressive Corp.
346,855
66,041,192
Prudential Financial, Inc.
205,208
20,652,133
Reinsurance Group of America, Inc.,
Class A
38,946
7,818,020
RenaissanceRe Holdings Ltd.
25,996
7,287,979
RLI Corp.
53,946
2,699,458
Root, Inc., Class A *
8,000
416,480
Ryan Specialty Holdings, Inc.
67,278
2,142,804
Safety Insurance Group, Inc.
8,127
570,272
Selective Insurance Group, Inc.
35,513
3,073,295
SiriusPoint Ltd. *
62,312
1,330,361
Skyward Specialty Insurance Group,
Inc. *
26,713
1,178,578
Slide Insurance Holdings, Inc. *
15,000
270,450
Stewart Information Services Corp.
19,556
1,270,749
Tiptree, Inc.
11,411
208,137
Travelers Cos., Inc.
128,484
37,503,195
Trupanion, Inc. *
19,538
426,319
United Fire Group, Inc.
12,402
549,781
Universal Insurance Holdings, Inc.
14,165
524,388
Unum Group
90,723
7,550,875
W.R. Berkley Corp.
176,737
11,229,869
White Mountains Insurance Group
Ltd.
1,471
3,037,350
Willis Towers Watson PLC
56,711
14,159,035
 
681,466,126
 
Materials 2.1%
AdvanSix, Inc.
15,186
340,774
Air Products & Chemicals, Inc.
131,621
36,672,243
Albemarle Corp.
70,481
12,434,258
Alcoa Corp.
152,649
11,851,668
Alpha Metallurgical Resources, Inc. *
6,446
1,282,561
Amcor PLC
271,436
10,537,146
Amrize Ltd. *
306,513
16,671,242
AptarGroup, Inc.
38,031
4,405,891
Ashland, Inc.
27,099
1,569,032
ASP Isotopes, Inc. *(a)
66,473
517,160
12
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Aspen Aerogels, Inc. *
38,919
249,082
Avery Dennison Corp.
45,517
7,240,389
Avient Corp.
53,610
1,898,866
Axalta Coating Systems Ltd. *
128,569
3,956,068
Balchem Corp.
18,897
2,961,727
Ball Corp.
158,575
8,669,295
Cabot Corp.
31,487
2,755,427
Celanese Corp.
65,265
3,467,529
Century Aluminum Co. *
31,783
2,096,724
CF Industries Holdings, Inc.
92,273
10,366,872
Chemours Co.
86,693
1,921,117
Clearwater Paper Corp. *
9,826
160,164
Cleveland-Cliffs, Inc. *
335,743
4,566,105
Coeur Mining, Inc.
612,326
11,830,138
Commercial Metals Co.
66,044
5,022,646
Compass Minerals International,
Inc. *
19,584
625,121
Corteva, Inc.
397,924
31,149,491
CRH PLC
397,836
43,280,578
Crown Holdings, Inc.
66,289
6,302,758
Dow, Inc.
427,027
14,412,161
DuPont de Nemours, Inc.
242,340
11,734,103
Eagle Materials, Inc.
18,272
4,041,401
Eastman Chemical Co.
66,827
5,070,164
Ecolab, Inc.
151,032
38,664,192
Ecovyst, Inc. *
69,517
916,929
Element Solutions, Inc.
137,619
5,839,174
FMC Corp.
73,513
1,004,188
Freeport-McMoRan, Inc.
853,334
56,072,577
Graphic Packaging Holding Co.
174,802
1,968,271
Greif, Inc., Class A
17,742
1,123,601
Hawkins, Inc.
12,036
1,862,812
HB Fuller Co.
31,994
2,050,176
Hecla Mining Co.
398,735
7,085,521
Huntsman Corp.
96,675
1,483,961
Ingevity Corp. *
20,710
1,404,552
Innospec, Inc.
14,337
1,189,111
International Flavors & Fragrances,
Inc.
151,520
11,523,096
International Paper Co.
311,762
10,434,674
Ivanhoe Electric, Inc. *
66,761
898,603
Kaiser Aluminum Corp.
10,203
1,857,354
Knife River Corp. *
33,079
2,597,032
Koppers Holdings, Inc.
11,766
480,053
Kronos Worldwide, Inc.
12,600
90,594
Linde PLC
276,530
137,626,216
Louisiana-Pacific Corp.
37,001
2,826,136
LSB Industries, Inc. *
30,768
385,831
LyondellBasell Industries NV, Class A
151,986
10,129,867
Martin Marietta Materials, Inc.
35,650
20,735,466
Materion Corp.
12,241
2,693,510
Mativ Holdings, Inc.
33,019
293,209
McEwen, Inc. *
26,273
575,116
Mercer International, Inc.
26,000
24,180
Metallus, Inc. *
21,884
430,021
Minerals Technologies, Inc.
18,123
1,395,833
Mosaic Co.
187,338
4,477,378
MP Materials Corp. *
78,651
5,088,720
Myers Industries, Inc.
21,359
486,985
NewMarket Corp.
4,507
3,486,525
Newmont Corp.
646,837
71,029,171
Nucor Corp.
135,736
33,934,000
O-I Glass, Inc. *
91,943
804,501
Olin Corp.
67,689
1,751,114
Orion SA
65,288
498,800
Packaging Corp. of America
52,672
11,530,427
Perimeter Solutions, Inc. *
80,724
2,605,771
PPG Industries, Inc.
133,060
15,033,119
PureCycle Technologies, Inc. *(a)
84,056
1,041,454
SECURITY
NUMBER
OF SHARES
VALUE ($)
Quaker Chemical Corp.
8,023
1,151,541
Ramaco Resources, Inc., Class A *
24,162
377,169
Ranpak Holdings Corp. *
25,000
172,500
Reliance, Inc.
30,897
11,764,651
Royal Gold, Inc.
47,852
10,741,817
RPM International, Inc.
75,648
8,016,419
Ryerson Holding Corp.
25,645
733,447
Scotts Miracle-Gro Co.
25,724
1,517,716
Sensient Technologies Corp.
26,199
2,982,756
Sherwin-Williams Co.
136,875
41,588,100
Silgan Holdings, Inc.
52,073
1,955,862
Smurfit Westrock PLC
307,932
12,671,402
Solstice Advanced Materials, Inc.
93,417
7,868,514
Sonoco Products Co.
57,720
2,809,810
Steel Dynamics, Inc.
80,936
21,055,500
Stepan Co.
12,000
634,200
SunCoke Energy, Inc.
46,971
423,209
Sylvamo Corp.
20,186
792,704
TriMas Corp.
17,857
730,887
Tronox Holdings PLC
70,152
557,708
U.S. Lime & Minerals, Inc.
6,371
726,230
USA Rare Earth, Inc. *
106,153
2,973,346
Vulcan Materials Co.
78,062
22,085,301
Warrior Met Coal, Inc.
30,495
2,882,997
Westlake Corp.
20,502
1,780,189
Worthington Steel, Inc.
19,751
833,295
 
917,316,992
 
Media & Entertainment 8.8%
Alphabet, Inc., Class A
3,447,861
1,311,359,453
Alphabet, Inc., Class C
2,769,583
1,042,554,129
AMC Entertainment Holdings, Inc.,
Class A *
195,450
338,128
AMC Global Media, Inc., Class A *
23,524
228,653
Angel Studios, Inc. *
55,286
153,142
Angi, Inc. *
21,656
126,904
Atlanta Braves Holdings, Inc.,
Class C *
33,560
1,664,576
Bumble, Inc., Class A *
40,557
128,566
Cable One, Inc. *
2,650
139,258
Cargurus, Inc. *
50,868
1,518,918
Cars.com, Inc. *
20,000
205,600
Charter Communications, Inc.,
Class A *
50,665
7,298,293
Cinemark Holdings, Inc.
61,656
1,726,368
Clear Channel Outdoor Holdings,
Inc. *
232,123
559,416
DoubleVerify Holdings, Inc. *
78,612
762,536
EchoStar Corp., Class A *(a)
79,099
10,218,800
Electronic Arts, Inc.
133,187
26,866,482
Emerald Holding, Inc.
11,476
57,380
EverQuote, Inc., Class A *
15,097
290,466
EW Scripps Co., Class A *
38,561
130,722
Fox Corp., Class A
195,067
12,468,683
fuboTV, Inc., Class A *(a)
16,954
171,066
Gray Media, Inc.
49,434
198,230
Grindr, Inc. *
27,637
345,462
IAC, Inc. *
40,563
1,820,873
Ibotta, Inc., Class A *
8,560
293,180
iHeartMedia, Inc., Class A *
68,106
293,537
John Wiley & Sons, Inc., Class A
24,217
1,019,051
Liberty Broadband Corp., Class C *
79,025
2,667,884
Liberty Media Corp.-Liberty Formula
One, Class C *
146,644
13,313,809
Lionsgate Studios Corp. *
131,505
1,887,097
Live Nation Entertainment, Inc. *
93,473
15,741,788
  
13

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Madison Square Garden
Entertainment Corp. *
23,590
1,663,803
Madison Square Garden Sports
Corp. *
10,916
4,085,750
Magnite, Inc. *
83,766
1,200,367
Match Group, Inc.
139,995
5,058,019
MediaAlpha, Inc., Class A *
19,325
171,992
Meta Platforms, Inc., Class A
1,295,259
819,264,270
MNTN, Inc., Class A *
6,500
61,295
National CineMedia, Inc.
55,259
173,513
Netflix, Inc. *
2,498,233
214,898,003
New York Times Co., Class A
95,593
7,189,550
News Corp., Class A
302,837
7,904,046
Nexstar Media Group, Inc.
17,426
3,109,321
Nextdoor Holdings, Inc. *
146,510
309,136
NIQ Global Intelligence PLC *
28,000
233,520
Omnicom Group, Inc.
186,115
13,532,422
Optimum Communications, Inc.,
Class A *
162,415
106,902
Paramount Skydance Corp.,
Class B (a)
183,599
1,947,985
Pinterest, Inc., Class A *
352,578
7,069,189
Playtika Holding Corp.
40,411
152,349
PubMatic, Inc., Class A *
24,127
281,803
QuinStreet, Inc. *
34,401
430,701
Reddit, Inc., Class A *
76,192
13,409,792
ROBLOX Corp., Class A *
393,472
18,552,205
Roku, Inc. *
77,301
10,063,044
Rumble, Inc. *(a)
65,898
605,603
Scholastic Corp. (a)
13,332
539,946
Shutterstock, Inc.
13,500
201,015
Sinclair, Inc.
22,849
316,002
Sirius XM Holdings, Inc.
111,502
3,291,539
Snap, Inc., Class A *
669,532
3,823,028
Sphere Entertainment Co. *
15,674
2,170,536
Stagwell, Inc. *
61,114
428,409
Stubhub Holdings, Inc., Class A *
20,000
197,200
Take-Two Interactive Software, Inc. *
102,883
23,062,253
TechTarget, Inc. *
14,188
65,123
TKO Group Holdings, Inc.
39,456
8,095,582
Trade Desk, Inc., Class A *
260,444
5,615,173
TripAdvisor, Inc. *
68,974
771,129
Trump Media & Technology Group
Corp. *
94,807
882,653
USA TODAY Co., Inc. *
73,563
574,527
Versant Media Group, Inc.
85,339
3,681,524
Walt Disney Co.
1,048,331
106,751,546
Warner Bros Discovery, Inc. *
1,468,762
39,671,262
Warner Music Group Corp., Class A
87,885
2,771,893
Webtoon Entertainment, Inc. *(a)
9,000
110,610
Yelp, Inc. *
35,354
806,071
Ziff Davis, Inc. *
22,776
1,026,514
ZipRecruiter, Inc., Class A *
43,979
142,492
ZoomInfo Technologies, Inc. *
158,818
528,864
 
3,793,547,921
 
Pharmaceuticals, Biotechnology & Life Sciences 5.8%
10X Genomics, Inc., Class A *
75,900
2,148,350
4D Molecular Therapeutics, Inc. *
20,000
198,200
AbbVie, Inc.
1,046,662
227,879,251
Absci Corp. *
78,402
529,214
ACADIA Pharmaceuticals, Inc. *
77,742
1,683,892
Adaptive Biotechnologies Corp. *
75,853
1,149,173
ADMA Biologics, Inc. *
139,699
1,114,798
Agilent Technologies, Inc.
166,802
22,606,675
Agios Pharmaceuticals, Inc. *
34,617
1,017,740
Aktis Oncology, Inc. *
13,916
288,618
SECURITY
NUMBER
OF SHARES
VALUE ($)
Alector, Inc. *
87,957
189,987
Alkermes PLC *
97,695
4,121,752
Allogene Therapeutics, Inc. *
149,554
324,532
Alnylam Pharmaceuticals, Inc. *
78,259
23,632,653
Alumis, Inc. *
46,445
1,003,212
Amgen, Inc.
318,719
107,341,372
Amneal Pharmaceuticals, Inc. *
104,474
1,375,923
Amphastar Pharmaceuticals, Inc. *
21,605
407,254
Amylyx Pharmaceuticals, Inc. *
58,783
843,536
AnaptysBio, Inc. *
10,559
587,820
Anavex Life Sciences Corp. *
68,920
208,828
ANI Pharmaceuticals, Inc. *
10,389
815,640
Anika Therapeutics, Inc. *
8,500
123,505
Annexon, Inc. *
79,390
430,294
Apogee Therapeutics, Inc. *
31,667
2,601,127
Arbutus Biopharma Corp. *
86,163
392,903
Arcturus Therapeutics Holdings,
Inc. *
25,985
205,801
Arcus Biosciences, Inc. *
51,551
1,306,302
Arcutis Biotherapeutics, Inc. *
64,126
1,376,144
Ardelyx, Inc. *
144,359
871,928
ArriVent Biopharma, Inc. *
18,008
545,102
Arrowhead Pharmaceuticals, Inc. *
81,703
6,365,481
ARS Pharmaceuticals, Inc. *(a)
48,109
436,349
Arvinas, Inc. *
47,280
424,574
AtaiBeckley, Inc. *
133,130
603,079
Atea Pharmaceuticals, Inc. *
47,410
221,405
Atrium Therapeutics, Inc. *
8,226
106,938
Avantor, Inc. *
401,205
3,658,990
Axsome Therapeutics, Inc. *
24,682
5,787,435
Azenta, Inc. *
23,585
539,625
Beam Therapeutics, Inc. *
62,347
2,053,087
Bicara Therapeutics, Inc. *
24,554
534,050
BioAge Labs, Inc. *
16,108
278,507
BioCryst Pharmaceuticals, Inc. *
141,645
1,262,057
Biogen, Inc. *
87,253
17,101,588
Biohaven Ltd. *
67,387
741,931
BioLife Solutions, Inc. *
26,022
648,468
BioMarin Pharmaceutical, Inc. *
114,548
6,562,455
Bio-Rad Laboratories, Inc., Class A *
10,744
3,357,285
Bio-Techne Corp.
93,699
4,842,364
BridgeBio Oncology Therapeutics,
Inc. *(a)
27,500
246,675
Bridgebio Pharma, Inc. *
99,331
6,581,672
Bristol-Myers Squibb Co.
1,205,293
68,918,654
Bruker Corp.
65,410
3,851,995
C4 Therapeutics, Inc. *
27,023
118,091
CareDx, Inc. *
30,686
700,255
Caribou Biosciences, Inc. *
78,996
186,431
Catalyst Pharmaceuticals, Inc. *
65,108
2,033,323
Celcuity, Inc. *
20,955
2,784,500
Celldex Therapeutics, Inc. *
45,244
1,422,019
CG oncology, Inc. *
39,404
2,454,475
Charles River Laboratories
International, Inc. *
29,346
5,303,116
Cogent Biosciences, Inc. *
92,899
3,247,749
Coherus Oncology, Inc. *
91,696
145,797
Collegium Pharmaceutical, Inc. *
19,395
651,866
Contineum Therapeutics, Inc.,
Class A *
10,500
141,645
Corcept Therapeutics, Inc. *
55,820
3,878,932
CorMedix, Inc. *
40,673
343,280
Crinetics Pharmaceuticals, Inc. *
60,503
2,150,882
CRISPR Therapeutics AG *
57,051
3,205,125
CryoPort, Inc. *
36,673
575,399
Cullinan Therapeutics, Inc. *
30,330
498,625
Cytek Biosciences, Inc. *
62,408
261,490
Cytokinetics, Inc. *
78,165
5,999,945
Danaher Corp.
372,372
68,021,193
14
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Definium Therapeutics, Inc. *
55,178
1,334,756
Denali Therapeutics, Inc. *
85,423
1,797,300
Design Therapeutics, Inc. *
26,443
277,123
Dianthus Therapeutics, Inc. *
21,529
2,002,412
Disc Medicine, Inc. *
18,441
1,282,940
Dyne Therapeutics, Inc. *
84,436
1,632,148
Edgewise Therapeutics, Inc. *
44,236
1,511,102
Editas Medicine, Inc. *
96,350
333,371
Eikon Therapeutics, Inc. *(a)
15,556
168,627
Elanco Animal Health, Inc. *
294,054
7,013,188
Eli Lilly & Co.
469,260
518,532,300
Emergent BioSolutions, Inc. *
30,279
276,144
Enanta Pharmaceuticals, Inc. *
10,879
143,168
Enliven Therapeutics, Inc. *
30,821
1,219,587
Entrada Therapeutics, Inc. *
17,261
122,035
Erasca, Inc. *
136,333
1,750,516
Evolus, Inc. *
45,976
301,603
Evommune, Inc. *
6,000
139,380
Exelixis, Inc. *
153,920
7,769,882
EyePoint, Inc. *
46,188
627,233
First Tracks Biotherapeutics, Inc. *
10,559
168,522
Fortrea Holdings, Inc. *
53,056
816,532
Fulcrum Therapeutics, Inc. *
30,377
210,209
Geron Corp. *
317,140
396,425
Gilead Sciences, Inc.
734,611
98,753,757
Ginkgo Bioworks Holdings, Inc. *
26,477
248,089
GRAIL, Inc. *
17,955
1,287,014
Gyre Therapeutics, Inc. *(a)
18,000
106,380
Halozyme Therapeutics, Inc. *
68,571
4,562,714
Harmony Biosciences Holdings, Inc. *
21,999
694,948
Harrow, Inc. *
19,602
690,186
Heron Therapeutics, Inc. *
83,361
72,532
Humacyte, Inc. *(a)
68,970
89,661
Ideaya Biosciences, Inc. *
50,817
1,497,577
Illumina, Inc. *
90,114
14,684,977
ImmunityBio, Inc. *(a)
172,180
1,294,794
Immunome, Inc. *
61,158
1,335,079
Immunovant, Inc. *
44,851
1,493,538
Incyte Corp. *
98,340
9,513,412
Indivior Pharmaceuticals, Inc. *
73,239
2,638,069
Innoviva, Inc. *
42,496
910,264
Insmed, Inc. *
125,822
13,451,630
Intellia Therapeutics, Inc. *
69,492
977,752
Ionis Pharmaceuticals, Inc. *
96,673
7,395,485
Iovance Biotherapeutics, Inc. *
224,829
921,799
IQVIA Holdings, Inc. *
100,277
18,271,472
Ironwood Pharmaceuticals, Inc. *
86,390
308,412
Janux Therapeutics, Inc. *
27,817
405,850
Jazz Pharmaceuticals PLC *
36,082
8,533,032
Johnson & Johnson
1,427,639
321,689,896
KalVista Pharmaceuticals, Inc. *
23,406
628,919
Keros Therapeutics, Inc. *
11,035
124,144
Kodiak Sciences, Inc. *
23,483
862,061
Krystal Biotech, Inc. *
14,809
4,576,425
Kura Oncology, Inc. *
47,582
485,336
Kymera Therapeutics, Inc. *
35,740
2,909,951
Kyverna Therapeutics, Inc. *
15,000
127,800
LB Pharmaceuticals, Inc. *
12,556
351,191
Lexicon Pharmaceuticals, Inc. *
110,085
239,985
Ligand Pharmaceuticals, Inc. *
11,943
2,770,298
Liquidia Corp. *
39,848
2,464,997
Lyell Immunopharma, Inc. *
9,101
157,720
Madrigal Pharmaceuticals, Inc. *
11,079
5,509,254
MannKind Corp. *
196,006
738,943
MapLight Therapeutics, Inc. *(a)
10,329
302,743
Maravai LifeSciences Holdings, Inc.,
Class A *
81,290
390,192
Maze Therapeutics, Inc. *
11,544
305,454
MBX Biosciences, Inc. *
15,071
474,284
SECURITY
NUMBER
OF SHARES
VALUE ($)
Medpace Holdings, Inc. *
13,202
5,902,746
Merck & Co., Inc.
1,470,256
174,548,792
Mesa Laboratories, Inc.
4,444
453,377
Mettler-Toledo International, Inc. *
11,894
14,041,819
MiMedx Group, Inc. *
66,153
243,443
Mineralys Therapeutics, Inc. *
35,158
1,107,477
Mirum Pharmaceuticals, Inc. *
26,944
2,734,816
Moderna, Inc. *
206,579
9,748,463
Monte Rosa Therapeutics, Inc. *
35,519
700,079
Myriad Genetics, Inc. *
54,235
215,313
Natera, Inc. *
82,220
18,365,481
Nektar Therapeutics *
18,540
1,202,875
Neumora Therapeutics, Inc. *
50,919
94,200
Neurocrine Biosciences, Inc. *
59,421
9,406,344
Novavax, Inc. *
98,296
1,078,307
Nurix Therapeutics, Inc. *
55,419
984,241
Nuvalent, Inc., Class A *
30,419
3,357,953
Nuvation Bio, Inc. *
146,585
700,676
Ocular Therapeutix, Inc. *
99,636
897,720
Olema Pharmaceuticals, Inc. *
28,000
369,320
Omeros Corp. *(a)
47,494
524,334
OmniAb, Inc. *
91,908
248,152
Organogenesis Holdings, Inc. *
45,075
115,843
Organon & Co.
153,685
2,050,158
ORIC Pharmaceuticals, Inc. *
46,809
395,536
Oruka Therapeutics, Inc. *
28,726
1,681,333
Pacific Biosciences of California,
Inc. *
174,278
259,674
Pacira BioSciences, Inc. *
25,914
601,723
Perrigo Co. PLC
81,044
895,536
Perspective Therapeutics, Inc. *
63,522
250,277
Pfizer, Inc.
3,362,862
88,039,727
Phathom Pharmaceuticals, Inc. *
33,490
321,169
Phibro Animal Health Corp., Class A
11,372
350,144
Praxis Precision Medicines, Inc. *
15,412
5,393,738
Precigen, Inc. *
108,070
469,024
Prestige Consumer Healthcare, Inc. *
27,831
1,322,807
Prime Medicine, Inc. *
89,719
318,502
ProKidney Corp. *(a)
64,764
118,518
Protagonist Therapeutics, Inc. *
34,764
3,461,104
Prothena Corp. PLC *
22,200
225,996
PTC Therapeutics, Inc. *
47,658
3,519,543
Quanterix Corp. *
26,147
80,010
Rapport Therapeutics, Inc. *
20,394
805,563
Recursion Pharmaceuticals, Inc.,
Class A *(a)
313,969
1,127,149
Regeneron Pharmaceuticals, Inc.
59,716
36,712,202
REGENXBIO, Inc. *
25,000
175,250
Relay Therapeutics, Inc. *
84,922
1,193,154
Repligen Corp. *
30,947
3,835,881
Replimune Group, Inc. *
41,688
362,269
Revolution Medicines, Inc. *
115,782
18,233,349
Revvity, Inc.
66,701
6,973,590
Rhythm Pharmaceuticals, Inc. *
35,572
3,141,719
Rigel Pharmaceuticals, Inc. *
10,304
314,169
Rocket Pharmaceuticals, Inc. *
51,335
157,598
Roivant Sciences Ltd. *
266,650
7,996,833
Royalty Pharma PLC, Class A
221,430
12,346,937
Sana Biotechnology, Inc. *
125,731
414,912
Sarepta Therapeutics, Inc. *
64,408
1,150,971
Savara, Inc. *
80,211
417,097
Scholar Rock Holding Corp. *
49,047
2,418,017
Septerna, Inc. *
11,580
349,716
SIGA Technologies, Inc.
34,489
161,409
Sionna Therapeutics, Inc. *
7,386
316,269
Sotera Health Co. *
155,329
2,429,346
SpyGlass Pharma, Inc. *
5,700
109,782
Spyre Therapeutics, Inc. *
44,082
3,240,027
Standard BioTools, Inc. *
181,462
208,681
  
15

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Stoke Therapeutics, Inc. *
28,492
880,688
Summit Therapeutics, Inc. *
93,014
1,631,466
Supernus Pharmaceuticals, Inc. *
32,632
1,506,946
Syndax Pharmaceuticals, Inc. *
52,906
1,036,429
Tango Therapeutics, Inc. *
60,195
1,323,086
Tarsus Pharmaceuticals, Inc. *
23,482
1,394,831
Taysha Gene Therapies, Inc. *
131,780
773,549
Tempus AI, Inc., Class A *
61,418
3,099,766
TG Therapeutics, Inc. *
79,899
3,031,368
Theravance Biopharma, Inc. *
21,785
349,867
Thermo Fisher Scientific, Inc.
222,486
109,576,580
Third Harmonic Bio, Inc. *(d)
12,349
0
Travere Therapeutics, Inc. *
54,946
2,592,352
Trevi Therapeutics, Inc. *
59,480
841,047
Twist Bioscience Corp. *
35,523
2,375,423
Tyra Biosciences, Inc. *
13,115
438,172
Ultragenyx Pharmaceutical, Inc. *
56,898
1,362,138
uniQure NV *
35,603
1,015,754
United Therapeutics Corp. *
25,319
14,098,126
Upstream Bio, Inc. *
20,416
170,678
Vanda Pharmaceuticals, Inc. *
40,824
263,315
Vaxcyte, Inc. *
76,011
3,906,965
Vera Therapeutics, Inc. *
39,088
1,388,406
Veracyte, Inc. *
46,416
2,150,917
VeraDermics, Inc. *(a)
10,640
1,073,682
Vericel Corp. *
28,210
940,239
Vertex Pharmaceuticals, Inc. *
150,338
67,282,269
Viatris, Inc.
686,297
11,159,189
Viking Therapeutics, Inc. *
71,527
2,341,794
Vir Biotechnology, Inc. *
68,366
652,212
Viridian Therapeutics, Inc. *
48,467
853,989
Waters Corp. *
58,256
22,345,254
WaVe Life Sciences Ltd. *
84,748
557,642
West Pharmaceutical Services, Inc.
42,284
13,649,698
Xencor, Inc. *
43,548
517,350
Xeris Biopharma Holdings, Inc. *
95,245
586,709
Zenas Biopharma, Inc. *
16,334
300,546
Zoetis, Inc.
249,436
19,378,683
 
2,489,880,152
 
Real Estate Management & Development 0.1%
CBRE Group, Inc., Class A *
171,828
21,485,373
Compass, Inc., Class A *
378,934
3,118,627
CoStar Group, Inc. *
251,275
8,091,055
Cushman & Wakefield Ltd. *
135,544
1,686,167
eXp World Holdings, Inc.
53,871
265,045
Forestar Group, Inc. *
11,870
326,069
FRP Holdings, Inc. *
7,078
163,573
Howard Hughes Holdings, Inc. *
17,571
1,113,123
Jones Lang LaSalle, Inc. *
27,690
7,817,164
Kennedy-Wilson Holdings, Inc.
71,550
787,766
Marcus & Millichap, Inc.
13,834
390,672
Newmark Group, Inc., Class A
95,126
1,328,910
Opendoor Technologies, Inc. *
479,154
2,414,936
RE/MAX Holdings, Inc., Class A *
10,296
98,224
RMR Group, Inc., Class A
9,000
179,550
Seaport Entertainment Group, Inc. *
4,944
124,836
Seritage Growth Properties, Class A *
25,000
64,250
St. Joe Co.
24,258
1,543,537
Tejon Ranch Co. *
14,392
278,197
Zillow Group, Inc., Class C *
131,365
4,597,775
 
55,874,849
 
Semiconductors & Semiconductor Equipment 17.0%
ACM Research, Inc., Class A *
31,661
2,740,576
Advanced Micro Devices, Inc. *
965,537
498,313,646
Aehr Test Systems *
16,000
1,477,280
SECURITY
NUMBER
OF SHARES
VALUE ($)
Allegro MicroSystems, Inc. *
75,544
3,616,291
Alpha & Omega Semiconductor Ltd. *
14,070
638,075
Ambarella, Inc. *
22,760
1,642,817
Ambiq Micro, Inc. *
3,000
238,980
Amkor Technology, Inc.
67,814
4,717,142
Analog Devices, Inc.
289,123
119,653,554
Applied Materials, Inc.
469,779
211,428,737
Astera Labs, Inc. *
79,161
27,140,349
Axcelis Technologies, Inc. *
17,933
2,697,303
Blaize Holdings, Inc. *(a)
33,568
59,080
Broadcom, Inc.
2,807,829
1,254,453,762
Cerebras Systems, Inc., Class A *
17,739
4,203,966
CEVA, Inc. *
12,725
508,746
Cirrus Logic, Inc. *
30,326
5,153,904
Cohu, Inc. *
26,430
1,394,182
Credo Technology Group Holding
Ltd. *
94,270
22,250,548
Diodes, Inc. *
26,410
2,781,501
Enphase Energy, Inc. *
77,639
5,307,402
Entegris, Inc.
89,560
12,430,032
First Solar, Inc. *
63,164
19,378,084
FormFactor, Inc. *
46,557
5,800,537
Ichor Holdings Ltd. *
20,572
1,471,309
Impinj, Inc. *
16,016
2,418,416
indie Semiconductor, Inc.,
Class A *(a)
142,235
709,753
Intel Corp. *
2,780,600
318,879,208
KLA Corp.
77,606
149,136,226
Kulicke & Soffa Industries, Inc.
31,541
3,213,712
Lam Research Corp.
739,514
235,298,565
Lattice Semiconductor Corp. *
81,657
12,010,112
MACOM Technology Solutions
Holdings, Inc. *
38,335
13,978,474
Marvell Technology, Inc.
516,034
105,786,970
MaxLinear, Inc. *
51,309
4,768,145
Microchip Technology, Inc.
320,976
30,380,378
Micron Technology, Inc.
666,529
647,199,659
MKS, Inc.
39,464
12,796,597
Monolithic Power Systems, Inc.
28,820
45,138,172
Navitas Semiconductor Corp. *
112,927
3,003,858
NVIDIA Corp.
14,390,759
3,038,464,855
NXP Semiconductors NV
149,450
48,025,757
ON Semiconductor Corp. *
233,388
28,151,261
Onto Innovation, Inc. *
29,142
7,525,630
PDF Solutions, Inc. *
22,883
1,117,377
Penguin Solutions, Inc. *
30,190
1,685,508
Photronics, Inc. *
36,784
1,189,962
Power Integrations, Inc.
33,469
2,811,396
Qnity Electronics, Inc.
123,278
19,231,368
Qorvo, Inc. *
49,590
5,135,540
QUALCOMM, Inc.
631,192
158,441,816
Rambus, Inc. *
63,894
9,294,021
Rigetti Computing, Inc. *
197,962
5,055,949
Semtech Corp. *
54,722
8,347,294
Silicon Laboratories, Inc. *
19,030
4,140,928
SiTime Corp. *
13,235
9,399,497
SkyWater Technology, Inc. *
16,425
640,247
Skyworks Solutions, Inc.
90,718
7,062,396
SolarEdge Technologies, Inc. *
34,966
2,669,654
Synaptics, Inc. *
22,381
3,072,464
Teradyne, Inc.
92,468
34,611,697
Texas Instruments, Inc.
537,461
164,291,078
Ultra Clean Holdings, Inc. *
28,390
2,429,332
Universal Display Corp.
25,688
2,366,379
Veeco Instruments, Inc. *
33,822
1,949,500
Wolfspeed, Inc. *(a)
19,061
1,129,936
 
7,362,456,890
 
16
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Software & Services 9.6%
8x8, Inc. *
100,234
207,484
A10 Networks, Inc.
44,314
1,335,624
Accenture PLC, Class A
363,990
68,091,609
ACI Worldwide, Inc. *
62,029
2,708,806
Adeia, Inc.
68,772
1,837,588
Adobe, Inc. *
242,824
62,942,409
Agilysys, Inc. *
14,795
1,280,655
Akamai Technologies, Inc. *
85,806
12,831,429
Alarm.com Holdings, Inc. *
29,722
1,340,759
Alkami Technology, Inc. *
47,666
866,091
Amplitude, Inc., Class A *
51,440
402,261
Appfolio, Inc., Class A *
14,981
2,414,488
Appian Corp., Class A *
23,706
554,720
Applied Digital Corp. *
147,053
6,952,666
AppLovin Corp., Class A *
160,271
98,260,547
Asana, Inc., Class A *
56,849
437,737
Atlassian Corp., Class A *
102,543
11,034,652
Aurora Innovation, Inc. *
727,100
5,336,914
Autodesk, Inc. *
125,651
29,064,333
AvePoint, Inc. *
89,154
972,670
Bentley Systems, Inc., Class B
87,622
2,859,982
BigBear.ai Holdings, Inc. *(a)
261,440
1,317,658
Bill Holdings, Inc. *
54,534
2,018,849
Bit Digital, Inc. *
189,405
382,598
BitMine Immersion Technologies, Inc.
273,246
5,265,450
Blackbaud, Inc. *
21,674
665,175
BlackLine, Inc. *
29,994
881,824
Blend Labs, Inc., Class A *
142,531
255,131
Box, Inc., Class A *
87,243
2,352,071
Braze, Inc., Class A *
64,001
1,640,346
C3.ai, Inc., Class A *
72,103
776,549
Cadence Design Systems, Inc. *
160,766
60,275,996
CCC Intelligent Solutions Holdings,
Inc. *
349,958
1,644,803
Cipher Digital, Inc. *
172,649
4,083,149
Circle Internet Group, Inc. *
31,403
3,548,539
Cleanspark, Inc. *
164,148
3,002,267
Clear Secure, Inc., Class A
52,192
2,894,046
Clearwater Analytics Holdings, Inc.,
Class A *
171,532
4,175,089
Cloudflare, Inc., Class A *
187,904
45,438,945
Cognizant Technology Solutions
Corp., Class A
281,650
15,703,396
Commvault Systems, Inc. *
25,694
3,051,163
Consensus Cloud Solutions, Inc. *
9,745
334,741
Core Scientific, Inc. *
187,722
5,040,336
CoreWeave, Inc., Class A *
143,180
15,682,505
Crowdstrike Holdings, Inc., Class A *
149,367
109,187,277
CS Disco, Inc. *
18,160
72,458
Daily Journal Corp. *
480
248,218
Datadog, Inc., Class A *
194,690
48,156,572
Digimarc Corp. *
20,000
294,000
Digital Turbine, Inc. *
59,670
523,903
DigitalOcean Holdings, Inc. *
46,721
7,286,140
Docusign, Inc. *
119,430
6,272,464
Dolby Laboratories, Inc., Class A
36,369
2,029,754
Domo, Inc., Class B *
20,483
85,414
Dropbox, Inc., Class A *
102,330
2,750,630
D-Wave Quantum, Inc. *
222,862
6,717,061
DXC Technology Co. *
102,769
1,018,441
Dynatrace, Inc. *
178,862
7,617,733
Elastic NV *
54,615
3,533,591
EPAM Systems, Inc. *
32,840
3,364,786
EverCommerce, Inc. *(a)
10,445
117,506
Everforth, Inc. *
25,480
577,886
Fair Isaac Corp. *
14,036
17,553,281
Fastly, Inc., Class A *
82,390
1,463,658
SECURITY
NUMBER
OF SHARES
VALUE ($)
Five9, Inc. *
45,995
1,119,978
Fortinet, Inc. *
373,651
51,552,628
Freshworks, Inc., Class A *
127,795
1,240,889
Gartner, Inc. *
42,727
6,930,319
Gen Digital, Inc.
332,794
8,582,757
Gitlab, Inc., Class A *
95,085
2,952,389
GoDaddy, Inc., Class A *
79,979
6,864,598
Grid Dynamics Holdings, Inc. *
38,804
279,389
Guidewire Software, Inc. *
50,127
7,652,889
Hackett Group, Inc.
13,157
151,700
HubSpot, Inc. *
31,215
6,886,965
Hut 8 Corp. *
56,776
7,087,348
I3 Verticals, Inc., Class A *
12,243
249,267
Intapp, Inc. *
34,155
788,639
InterDigital, Inc.
15,345
3,868,321
International Business Machines
Corp.
553,041
164,695,610
Intuit, Inc.
164,521
54,543,647
Kaltura, Inc. *
40,288
61,641
Klaviyo, Inc., Class A *
91,637
1,451,530
Kyndryl Holdings, Inc. *
136,862
1,706,669
Life360, Inc. *
46,415
1,972,173
LiveRamp Holdings, Inc. *
37,296
1,400,838
Manhattan Associates, Inc. *
35,672
5,352,584
MARA Holdings, Inc. *
218,113
3,136,465
Microsoft Corp.
4,397,554
1,979,954,713
MongoDB, Inc. *
47,858
16,058,752
nCino, Inc. *
50,173
806,782
NCR Voyix Corp. *
60,150
432,479
Netskope, Inc., Class A *
49,684
603,164
NextNav, Inc. *
51,659
1,065,209
Nutanix, Inc., Class A *
159,782
8,319,849
Okta, Inc. *
101,751
12,542,846
OneSpan, Inc.
20,734
299,399
Oracle Corp.
1,003,266
226,517,397
PagerDuty, Inc. *
54,741
544,673
Palantir Technologies, Inc., Class A *
1,351,491
211,562,401
Palo Alto Networks, Inc. *
478,557
134,804,721
PAR Technology Corp. *
14,308
220,916
Pegasystems, Inc.
52,777
1,885,722
Pivotal Software, Inc. *(d)
45,214
0
Porch Group, Inc. *
43,321
451,405
Procore Technologies, Inc. *
71,280
3,527,647
Progress Software Corp. *
28,997
951,972
PTC, Inc. *
70,460
9,774,916
Q2 Holdings, Inc. *
36,086
1,708,672
Qualys, Inc. *
20,543
2,245,144
Rackspace Technology, Inc. *(a)
100,574
519,968
Rapid7, Inc. *
34,509
289,185
Red Violet, Inc. *
7,620
433,121
RingCentral, Inc., Class A
45,147
1,955,317
Riot Platforms, Inc. *
191,239
5,184,489
Roper Technologies, Inc.
63,463
20,659,110
Rubrik, Inc., Class A *
91,988
7,233,016
SailPoint, Inc. *
44,966
846,710
Salesforce, Inc.
554,287
105,924,246
Samsara, Inc., Class A *
213,204
7,460,008
SentinelOne, Inc., Class A *
199,742
3,305,730
ServiceNow, Inc. *
619,059
76,992,368
ServiceTitan, Inc., Class A *
34,312
2,482,816
Snowflake, Inc., Class A *
203,025
51,883,039
SoundHound AI, Inc., Class A *(a)
223,889
2,015,001
Sprinklr, Inc., Class A *
102,843
573,864
Sprout Social, Inc., Class A *
31,053
232,276
SPS Commerce, Inc. *
21,732
1,233,291
Strategy, Inc., Class A *
187,796
29,876,466
Synopsys, Inc. *
113,009
53,749,341
Telos Corp. *
25,850
123,822
Tenable Holdings, Inc. *
71,613
2,021,635
  
17

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Teradata Corp. *
55,357
1,884,906
Terawulf, Inc. *
223,031
5,700,672
Thryv Holdings, Inc. *
61,406
238,255
Trimble, Inc. *
140,165
7,906,708
Tucows, Inc., Class A *
7,627
115,625
Twilio, Inc., Class A *
89,938
17,145,780
Tyler Technologies, Inc. *
25,543
7,998,790
UiPath, Inc., Class A *
249,763
2,927,222
Unisys Corp. *
25,000
114,750
Unity Software, Inc. *
203,267
6,193,546
Varonis Systems, Inc. *
71,326
2,435,783
VeriSign, Inc.
49,068
14,003,026
Vertex, Inc., Class A *
44,513
594,249
Via Transportation, Inc., Class A *
9,000
137,070
Weave Communications, Inc. *
44,594
268,456
Whitefiber, Inc. *(a)
5,600
166,544
Workday, Inc., Class A *
125,856
18,398,889
Workiva, Inc. *
30,495
1,518,041
Xperi, Inc. *
25,564
203,234
Yext, Inc. *
60,801
254,148
Zeta Global Holdings Corp., Class A *
125,989
2,883,888
Zoom Communications, Inc.,
Class A *
157,969
16,048,071
Zscaler, Inc. *
61,448
8,586,129
 
4,156,561,436
 
Technology Hardware & Equipment 10.0%
908 Devices, Inc. *
15,500
130,355
ADTRAN Holdings, Inc. *
40,597
671,880
Advanced Energy Industries, Inc.
22,315
6,743,147
Aeva Technologies, Inc. *
19,296
543,761
Amphenol Corp., Class A
727,522
108,226,173
Apple, Inc.
8,694,341
2,713,156,053
Applied Optoelectronics, Inc. *
37,759
5,981,403
Arista Networks, Inc. *
610,742
97,395,027
Arlo Technologies, Inc. *
65,698
876,411
Arrow Electronics, Inc. *
30,631
6,574,332
Avnet, Inc.
50,446
4,385,271
Badger Meter, Inc.
16,933
2,097,999
Bel Fuse, Inc., Class B
7,962
2,185,728
Belden, Inc.
22,968
2,413,477
Benchmark Electronics, Inc.
20,116
1,698,997
Calix, Inc. *
34,435
1,368,791
CDW Corp.
76,872
9,643,592
Ciena Corp. *
83,318
48,343,603
Cisco Systems, Inc.
2,339,868
281,766,905
Clearfield, Inc. *
6,800
321,096
Cognex Corp.
97,433
6,415,963
Coherent Corp. *
110,673
40,004,969
Corning, Inc.
462,047
83,704,435
Corsair Gaming, Inc. *
25,300
307,142
Crane NXT Co.
27,859
1,082,044
CTS Corp.
17,456
1,120,850
Daktronics, Inc. *
22,690
469,229
Dell Technologies, Inc., Class C
175,809
73,999,766
Diebold Nixdorf, Inc. *
21,264
1,725,361
Digi International, Inc. *
24,203
1,616,760
ePlus, Inc.
14,708
1,207,380
Everpure, Inc., Class A *
185,093
14,716,744
Evolv Technologies Holdings, Inc. *
82,394
531,441
Extreme Networks, Inc. *
86,259
2,286,726
F5, Inc. *
33,496
12,844,041
Fabrinet *
21,007
13,741,939
Flex Ltd. *
218,415
32,932,614
GPGI, Inc., Class A
108,834
1,323,421
Harmonic, Inc. *
65,956
996,595
Hewlett Packard Enterprise Co.
789,961
33,999,922
HP, Inc.
545,088
14,739,180
SECURITY
NUMBER
OF SHARES
VALUE ($)
Insight Enterprises, Inc. *
18,235
1,939,839
IonQ, Inc. *(a)
209,637
15,108,539
IPG Photonics Corp. *
15,217
1,742,651
Itron, Inc. *
26,712
2,203,206
Jabil, Inc.
62,798
22,893,639
Keysight Technologies, Inc. *
101,107
34,207,531
Kimball Electronics, Inc. *
14,244
369,347
Knowles Corp. *
50,996
1,907,760
Lightwave Logic, Inc. *
81,838
888,761
Littelfuse, Inc.
14,928
6,969,435
Lumentum Holdings, Inc. *
42,193
36,073,327
Methode Electronics, Inc.
20,778
239,778
Mirion Technologies, Inc. *
147,574
2,697,653
Motorola Solutions, Inc.
98,092
39,558,542
Napco Security Technologies, Inc.
21,098
791,808
NetApp, Inc.
117,424
20,465,829
NETGEAR, Inc. *
16,629
432,188
NetScout Systems, Inc. *
40,234
1,674,539
nLight, Inc. *
33,562
2,487,615
Novanta, Inc. *
21,190
3,376,203
Ondas, Inc. *(a)
272,079
3,596,884
OSI Systems, Inc. *
9,360
2,028,780
Ouster, Inc. *
34,674
1,596,738
PC Connection, Inc.
6,985
486,086
Plexus Corp. *
15,503
4,160,385
Powerfleet, Inc. NJ *
71,390
279,135
Quantum Computing, Inc. *(a)
107,421
1,284,755
Ralliant Corp.
66,888
4,138,361
Ribbon Communications, Inc. *
52,315
161,130
Rogers Corp. *
9,462
1,339,062
Sandisk Corp. *
87,269
147,919,210
Sanmina Corp. *
32,314
8,392,915
ScanSource, Inc. *
13,215
611,458
Seagate Technology Holdings PLC
129,126
113,605,055
SmartRent, Inc. *
100,465
126,586
Super Micro Computer, Inc. *
295,820
13,634,344
TD SYNNEX Corp.
44,398
11,600,309
TE Connectivity PLC
173,705
37,070,384
Teledyne Technologies, Inc. *
27,546
17,073,837
TTM Technologies, Inc. *
60,676
10,540,635
Ubiquiti, Inc.
2,626
1,533,216
Viasat, Inc. *
79,263
6,390,183
Viavi Solutions, Inc. *
138,014
6,701,960
Vishay Intertechnology, Inc.
72,001
3,747,652
Vistance Networks, Inc. *
127,715
1,593,883
Vontier Corp.
86,843
2,464,604
Western Digital Corp.
200,427
106,468,827
Xerox Holdings Corp.
81,272
263,321
Zebra Technologies Corp., Class A *
29,896
7,283,563
 
4,346,411,971
 
Telecommunication Services 0.8%
Anterix, Inc. *
11,166
714,847
Array Digital Infrastructure, Inc.
7,821
397,776
AST SpaceMobile, Inc. *
147,473
16,724,913
AT&T, Inc.
4,143,958
102,770,158
ATN International, Inc.
6,200
174,592
Bandwidth, Inc., Class A *
16,880
1,096,694
Cogent Communications Holdings,
Inc.
30,899
548,766
Comcast Corp., Class A
2,121,775
52,768,544
Globalstar, Inc. *
32,117
2,704,573
Gogo, Inc. *
45,391
207,437
IDT Corp., Class B
11,647
642,449
Iridium Communications, Inc.
64,196
3,324,069
Liberty Capital Corp., Class C *
20,427
456,952
Liberty Global Ltd., Class C *
189,054
2,298,897
Liberty Latin America Ltd., Class C *
94,040
771,128
18
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Lumen Technologies, Inc. *
559,489
6,148,784
Shenandoah Telecommunications
Co.
28,013
446,807
Telephone & Data Systems, Inc.
59,413
2,323,642
T-Mobile U.S., Inc.
280,566
52,614,542
Uniti Group, Inc.
104,705
1,174,790
Verizon Communications, Inc.
2,496,005
119,333,999
 
367,644,359
 
Transportation 1.3%
Alaska Air Group, Inc. *
68,078
3,132,950
Allegiant Travel Co. *
13,770
1,261,470
American Airlines Group, Inc. *
387,644
5,675,108
ArcBest Corp.
13,273
1,814,286
Avis Budget Group, Inc. *
9,931
1,746,267
CH Robinson Worldwide, Inc.
70,052
12,514,790
Covenant Logistics Group, Inc.,
Class A
8,844
351,107
CSX Corp.
1,099,034
49,742,279
Delta Air Lines, Inc.
384,161
31,685,599
Expeditors International of
Washington, Inc.
78,798
12,449,296
FedEx Corp.
128,291
52,823,819
Forward Air Corp. *
11,351
120,094
Frontier Group Holdings, Inc. *
47,651
288,289
FTAI Infrastructure, Inc.
77,531
345,788
Genco Shipping & Trading Ltd.
24,986
601,163
GXO Logistics, Inc. *
66,451
3,329,860
Heartland Express, Inc.
31,236
468,228
Hertz Global Holdings, Inc. *(a)
71,855
388,017
Hub Group, Inc., Class A
37,376
1,552,599
JB Hunt Transport Services, Inc.
44,101
12,190,839
JetBlue Airways Corp. *
180,518
987,433
Joby Aviation, Inc. *
358,942
4,271,410
Kirby Corp. *
31,972
4,494,943
Knight-Swift Transportation
Holdings, Inc.
95,881
7,251,480
Landstar System, Inc.
20,228
4,185,173
Lyft, Inc., Class A *
235,495
3,322,834
Marten Transport Ltd.
34,974
602,952
Matson, Inc.
18,027
3,268,295
Norfolk Southern Corp.
133,226
40,628,601
Old Dominion Freight Line, Inc.
108,694
24,472,454
Proficient Auto Logistics, Inc. *
15,000
82,050
RXO, Inc. *
99,992
2,557,795
Ryder System, Inc.
23,470
5,887,450
Saia, Inc. *
15,863
7,493,205
Schneider National, Inc., Class B
26,799
947,077
SkyWest, Inc. *
23,397
2,003,953
Southwest Airlines Co.
290,653
12,483,546
Uber Technologies, Inc. *
1,218,527
85,784,301
U-Haul Holding Co., Non Voting
Shares
65,593
3,412,148
Union Pacific Corp.
351,517
92,322,425
United Airlines Holdings, Inc. *
190,761
21,899,363
United Parcel Service, Inc., Class B
437,075
46,631,532
Universal Logistics Holdings, Inc.
3,740
59,503
Werner Enterprises, Inc.
37,339
1,549,942
Wheels Up Experience, Inc. *(a)
3,731
32,907
XPO, Inc. *
68,926
14,767,396
 
583,882,016
 
Utilities 2.1%
AES Corp.
419,726
6,157,380
Alliant Energy Corp.
151,322
10,836,168
Ameren Corp.
164,208
17,729,538
SECURITY
NUMBER
OF SHARES
VALUE ($)
American Electric Power Co., Inc.
321,080
40,671,204
American States Water Co.
22,355
1,727,371
American Water Works Co., Inc.
114,892
14,162,737
Atmos Energy Corp.
98,254
16,617,699
Avista Corp.
48,307
2,003,291
Black Hills Corp.
45,956
3,346,516
California Water Service Group
35,773
1,613,362
CenterPoint Energy, Inc.
384,260
16,238,828
Chesapeake Utilities Corp.
13,497
1,664,450
Clearway Energy, Inc., Class C
72,695
2,992,126
CMS Energy Corp.
182,352
13,233,285
Consolidated Edison, Inc.
213,268
22,527,499
Constellation Energy Corp.
184,461
53,078,653
Dominion Energy, Inc.
506,392
33,897,880
DTE Energy Co.
122,520
17,504,432
Duke Energy Corp.
461,350
56,621,486
Edison International
229,442
16,047,173
Entergy Corp.
268,306
29,258,769
Essential Utilities, Inc.
165,718
6,113,337
Evergy, Inc.
136,273
11,179,837
Eversource Energy
221,344
15,111,155
Exelon Corp.
608,851
27,787,960
Fervo Energy Co., Class A *(a)
40,765
1,494,445
FirstEnergy Corp.
307,344
14,257,688
H2O America (a)
23,200
1,341,656
Hallador Energy Co. *
20,500
394,830
Hawaiian Electric Industries, Inc. *
97,534
1,297,202
IDACORP, Inc.
31,402
4,404,759
MDU Resources Group, Inc.
118,959
2,507,656
MGE Energy, Inc.
22,816
1,722,608
Middlesex Water Co.
9,815
515,582
Montauk Renewables, Inc. *
52,526
91,395
National Fuel Gas Co.
56,895
4,395,139
New Jersey Resources Corp.
59,702
3,298,536
NextEra Energy, Inc.
1,233,014
107,284,548
NiSource, Inc.
283,696
13,112,429
Northwest Natural Holding Co.
24,358
1,181,119
Northwestern Energy Group, Inc.
36,869
2,603,320
NRG Energy, Inc.
125,490
16,825,699
OGE Energy Corp.
123,676
5,841,217
Oklo, Inc. *
72,898
4,875,418
ONE Gas, Inc.
35,262
2,741,268
Ormat Technologies, Inc.
35,770
4,908,717
Otter Tail Corp.
23,894
2,070,654
PG&E Corp.
1,307,161
21,359,011
Pinnacle West Capital Corp.
70,446
7,026,284
Portland General Electric Co.
65,687
3,292,232
PPL Corp.
440,541
15,590,746
Public Service Enterprise Group, Inc.
294,541
23,165,650
Sempra
386,985
34,491,973
Southern Co.
652,626
60,074,223
Southwest Gas Holdings, Inc.
37,823
3,260,721
Spire, Inc.
34,868
2,868,242
Talen Energy Corp. *
26,791
10,362,759
TXNM Energy, Inc.
57,073
3,379,292
UGI Corp.
126,335
4,411,618
Unitil Corp.
10,167
508,655
Vistra Corp.
188,866
30,261,999
WEC Energy Group, Inc.
191,798
21,299,168
Xcel Energy, Inc.
350,805
27,888,998
York Water Co.
7,252
216,835
 
904,746,427
Total Common Stocks
(Cost $18,319,172,488)
43,250,449,770
  
19

Schwab 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)
20,259,471
20,259,471
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (e)(f)
66,649,392
66,649,392
 
86,908,863
Total Short-Term Investments
(Cost $86,908,863)
86,908,863
Total Investments in Securities
(Cost $18,406,081,351)
43,337,358,633
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
Russell 2000 Index, e-mini,
expires 06/18/26
41
5,994,815
180,542
S&P 500 Index, e-mini, expires
06/18/26
131
49,752,163
1,101,542
 
1,282,084
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Issuer is an affiliated company, as the investment adviser owns at least 5% of
the voting securities of such company.
(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 $64,672,127.
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 August 31, 2025, 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
8/31/25
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. *
$
$76,303
($135,051
)
($168,711
)
$47,314
$
$
 
Commercial & Professional Services 0.0%
TrueBlue, Inc. (a),*
4,320
111,780
18,000
 
Consumer Durables & Apparel 0.0%
Oxford Industries, Inc.
5,288
19,298
 
Equity Real Estate Investment Trusts (REITs) 0.0%
Service Properties Trust
242,390
319,979
(1,544
)
81
44,732
5,167
 
Financial Services 0.2%
Charles Schwab Corp. (b)
94,381,507
3,691,827
(4,034,444
)
687,584
(8,968,777
)
85,757,697
981,771
886,696
 
Food, Beverage & Tobacco 0.0%
Hain Celestial Group, Inc. (a),*
26
(132,082
)
(295,544
)
272,235
 
Health Care Equipment & Services 0.0%
Accendra Health, Inc. *
174,567
(228,104
)
(410,133
)
424,757
 
20
  

Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
SECURITY
VALUE AT
8/31/25
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),*
$
$
$
$
($11,809
)
$98,649
7,873
$
Nu Skin Enterprises, Inc., Class A
(177,811
)
5,017
 
98,649
 
Media & Entertainment 0.0%
AMC Global Media, Inc., Class A *
226,652
(174,283
)
(103,177
)
132,980
EW Scripps Co., Class A *
3,600
(970
)
441
14,479
Gray Media, Inc.
4,730
(1,170
)
1,051
(105,053
)
11,718
 
Total
$94,623,897
$4,497,684
($4,707,648
)
($288,408
)
($8,317,345
)
$85,968,126
$927,896
(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
$35,308,131,579
$
$
$35,308,131,579
Health Care Equipment & Services
1,295,876,603
0
*
1,295,876,603
Pharmaceuticals, Biotechnology & Life Sciences
2,489,880,152
0
*
2,489,880,152
Software & Services
4,156,561,436
0
*
4,156,561,436
Short-Term Investments 1
86,908,863
86,908,863
Futures Contracts 2
1,282,084
1,282,084
Total
$43,338,640,717
$—
$0
$43,338,640,717
*
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.
  
21

Schwab Strategic Trust
Schwab 1000 Index ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 2.1%
Aptiv PLC *
17,049
1,158,309
Autoliv, Inc.
5,562
707,041
BorgWarner, Inc.
16,679
1,197,886
Ford Motor Co.
317,034
5,529,073
General Motors Co.
73,274
6,099,328
Gentex Corp.
17,476
422,220
Lear Corp.
4,204
601,677
Lucid Group, Inc. *(a)
15,988
104,721
Rivian Automotive, Inc., Class A *
65,402
1,066,053
Tesla, Inc. *
227,341
99,072,934
Thor Industries, Inc.
4,153
328,419
Versigent PLC *
5,609
247,469
 
116,535,130
 
Banks 3.2%
Bank of America Corp.
536,592
27,688,147
Bank OZK
8,352
404,153
BOK Financial Corp.
1,638
209,729
Citigroup, Inc.
141,336
17,794,202
Citizens Financial Group, Inc.
34,216
2,130,288
Columbia Banking System, Inc.
24,125
715,065
Commerce Bancshares, Inc.
10,872
567,736
Cullen/Frost Bankers, Inc.
5,134
695,760
East West Bancorp, Inc.
11,238
1,377,104
Fifth Third Bancorp
72,589
3,624,369
First Citizens BancShares, Inc., Class A
782
1,556,579
First Financial Bankshares, Inc.
10,163
332,127
First Horizon Corp.
39,568
958,733
Flagstar Bank NA
23,911
336,189
FNB Corp.
28,785
503,162
Glacier Bancorp, Inc.
10,270
488,338
Hancock Whitney Corp.
6,777
461,649
Home BancShares, Inc.
15,136
405,039
Huntington Bancshares, Inc.
163,614
2,676,725
JPMorgan Chase & Co.
217,945
65,233,118
KeyCorp
76,346
1,628,460
M&T Bank Corp.
12,224
2,641,729
Old National Bancorp
27,861
668,943
Pinnacle Financial Partners, Inc.
12,312
1,203,375
PNC Financial Services Group, Inc.
32,713
7,233,499
Popular, Inc.
5,275
783,496
Prosperity Bancshares, Inc.
8,006
552,094
Regions Financial Corp.
69,746
1,952,888
Southstate Bank Corp.
8,009
758,853
Truist Financial Corp.
101,831
4,909,272
U.S. Bancorp
125,846
6,902,653
UMB Financial Corp.
5,795
760,652
United Bankshares, Inc.
11,414
495,482
Valley National Bancorp
38,633
531,976
Webster Financial Corp.
12,941
941,069
Wells Fargo & Co.
249,924
19,379,107
Western Alliance Bancorp
8,189
652,254
Wintrust Financial Corp.
5,381
808,388
Zions Bancorp NA
12,101
755,707
 
181,718,109
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Capital Goods 7.3%
3M Co.
42,627
6,527,472
A.O. Smith Corp.
8,997
510,310
AAON, Inc.
5,544
777,269
Acuity, Inc.
2,492
760,334
Advanced Drainage Systems, Inc.
5,779
804,206
AECOM
10,397
721,240
AeroVironment, Inc. *
2,590
536,752
AGCO Corp.
4,751
533,442
Allegion PLC
6,922
900,344
Allison Transmission Holdings, Inc.
6,793
771,209
AMETEK, Inc.
18,605
4,201,939
API Group Corp. *
30,870
1,265,670
Applied Industrial Technologies, Inc.
3,014
915,683
Archer Aviation, Inc., Class A *
48,943
333,302
Armstrong World Industries, Inc.
3,456
545,702
ATI, Inc. *
10,982
1,923,607
Axon Enterprise, Inc. *
6,354
2,851,167
Bloom Energy Corp., Class A *
20,852
5,942,820
Boeing Co. *
63,542
14,687,733
Builders FirstSource, Inc. *
9,098
693,813
BWX Technologies, Inc.
7,398
1,449,120
Carlisle Cos., Inc.
3,290
1,134,425
Carpenter Technology Corp.
4,013
1,882,017
Carrier Global Corp.
63,331
4,044,951
Caterpillar, Inc.
37,612
32,943,222
Chart Industries, Inc. *
3,640
756,465
CNH Industrial NV
72,598
741,226
Comfort Systems USA, Inc.
2,845
5,201,257
Construction Partners, Inc., Class A *
3,775
439,674
Core & Main, Inc., Class A *
15,226
752,926
Crane Co.
3,942
721,386
Cummins, Inc.
11,163
7,218,331
Curtiss-Wright Corp.
2,964
2,215,916
Deere & Co.
20,381
11,050,171
Donaldson Co., Inc.
9,391
768,841
Dover Corp.
10,908
2,305,515
Dycom Industries, Inc. *
2,459
1,254,090
Eaton Corp. PLC
31,369
12,566,421
EMCOR Group, Inc.
3,635
3,005,491
Emerson Electric Co.
45,430
6,533,743
Esab Corp.
4,556
421,111
ESCO Technologies, Inc.
2,122
619,412
Fastenal Co.
92,882
4,105,384
Federal Signal Corp.
4,936
526,671
Ferguson Enterprises, Inc.
15,776
3,564,903
Flowserve Corp.
10,361
782,359
Fluor Corp. *
13,268
607,144
Fortive Corp.
25,580
1,491,826
Fortune Brands Innovations, Inc.
9,624
374,759
FTAI Aviation Ltd.
8,290
2,158,219
Gates Industrial Corp. PLC *
20,578
533,382
GATX Corp.
2,857
483,062
GE Vernova, Inc.
21,788
21,097,756
Generac Holdings, Inc. *
4,757
1,322,018
General Dynamics Corp.
20,508
7,112,584
General Electric Co.
84,744
27,436,717
Graco, Inc.
13,283
1,002,202
HEICO Corp.
8,126
2,829,311
Hexcel Corp.
6,265
562,534
22
  

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Honeywell International, Inc.
51,387
12,222,912
Howmet Aerospace, Inc.
32,406
8,368,849
Hubbell, Inc.
4,303
2,037,944
Huntington Ingalls Industries, Inc.
3,169
976,591
IDEX Corp.
6,001
1,265,191
IES Holdings, Inc. *
701
475,523
Illinois Tool Works, Inc.
21,243
5,252,969
Ingersoll Rand, Inc.
28,726
2,057,931
ITT, Inc.
6,943
1,353,885
JBT Marel Corp.
4,266
573,308
Johnson Controls International PLC
49,584
6,647,231
Karman Holdings, Inc. *
6,618
380,535
Kratos Defense & Security Solutions,
Inc. *
14,779
947,777
L3Harris Technologies, Inc.
15,131
4,768,989
Lennox International, Inc.
2,574
1,292,560
Leonardo DRS, Inc.
6,294
306,895
Lincoln Electric Holdings, Inc.
4,447
1,149,505
Loar Holdings, Inc. *
3,099
199,823
Lockheed Martin Corp.
16,395
8,696,728
Masco Corp.
16,423
1,153,716
MasTec, Inc. *
4,980
1,884,283
Middleby Corp. *
3,712
575,397
Modine Manufacturing Co. *
4,264
1,189,272
Moog, Inc., Class A
2,313
832,611
Mueller Industries, Inc.
8,930
1,148,398
Nextpower, Inc., Class A *
11,952
1,869,293
Nordson Corp.
4,237
1,217,417
Northrop Grumman Corp.
10,763
6,066,888
nVent Electric PLC
13,128
2,192,245
Oshkosh Corp.
5,034
654,420
Otis Worldwide Corp.
31,303
2,217,504
Owens Corning
6,704
843,497
PACCAR, Inc.
42,398
4,679,467
Parker-Hannifin Corp.
10,195
8,611,003
Pentair PLC
13,251
938,701
Primoris Services Corp.
4,406
554,187
Quanta Services, Inc.
12,073
8,592,716
QXO, Inc. *(a)
41,011
707,440
RBC Bearings, Inc. *
2,542
1,453,922
Regal Rexnord Corp.
5,334
1,076,188
Resideo Technologies, Inc. *
10,891
340,562
Rocket Lab Corp. *
38,106
5,467,449
Rockwell Automation, Inc.
9,064
4,088,408
RTX Corp.
108,442
19,482,690
Simpson Manufacturing Co., Inc.
3,338
633,352
SiteOne Landscape Supply, Inc. *
3,616
392,698
Snap-on, Inc.
4,176
1,550,173
SPX Technologies, Inc. *
3,966
859,273
StandardAero, Inc. *
15,436
442,087
Stanley Black & Decker, Inc.
12,668
1,006,092
Sterling Infrastructure, Inc. *
2,469
2,125,414
Symbotic, Inc. *
4,876
226,368
Textron, Inc.
14,153
1,298,679
Timken Co.
5,210
666,776
Toro Co.
7,812
702,143
Trane Technologies PLC
17,877
8,067,890
TransDigm Group, Inc.
4,559
5,736,681
Trex Co., Inc. *
8,647
357,986
UFP Industries, Inc.
4,845
392,445
United Rentals, Inc.
5,080
5,058,004
Valmont Industries, Inc.
1,568
815,062
Vertiv Holdings Co., Class A
30,895
9,753,860
Watsco, Inc.
2,807
1,030,450
Watts Water Technologies, Inc., Class A
2,230
689,025
WESCO International, Inc.
3,945
1,424,816
Westinghouse Air Brake Technologies
Corp.
13,776
3,597,740
Woodward, Inc.
4,812
1,684,344
SECURITY
NUMBER
OF SHARES
VALUE ($)
WW Grainger, Inc.
3,546
4,376,615
Xylem, Inc.
19,782
2,166,920
Zurn Elkay Water Solutions Corp.
11,815
555,305
 
412,643,574
 
Commercial & Professional Services 0.8%
Amentum Holdings, Inc. *
11,948
277,552
Automatic Data Processing, Inc.
32,559
7,222,889
Booz Allen Hamilton Holding Corp.,
Class A
9,892
783,249
Broadridge Financial Solutions, Inc.
9,437
1,450,656
CACI International, Inc., Class A *
1,775
911,480
Casella Waste Systems, Inc., Class A *
4,941
406,002
Cintas Corp.
27,432
4,698,004
Clean Harbors, Inc. *
4,052
1,138,734
Copart, Inc. *
72,081
2,362,094
Equifax, Inc.
9,698
1,607,831
ExlService Holdings, Inc. *
13,001
377,419
FTI Consulting, Inc. *
2,367
362,577
Genpact Ltd.
12,835
422,913
Jacobs Solutions, Inc.
9,422
1,129,321
KBR, Inc.
10,010
349,850
Leidos Holdings, Inc.
10,418
1,331,420
MSA Safety, Inc.
2,896
480,157
Parsons Corp. *
4,214
249,047
Paychex, Inc.
26,057
2,527,008
Paycom Software, Inc.
4,043
564,686
Paylocity Holding Corp. *
3,527
405,358
RB Global, Inc.
15,045
1,600,036
Republic Services, Inc.
16,328
3,272,784
Rollins, Inc.
24,002
1,142,495
SS&C Technologies Holdings, Inc.
16,833
1,136,564
Tetra Tech, Inc.
20,923
575,173
TransUnion
15,697
1,123,277
Veralto Corp.
20,056
1,649,205
Verisk Analytics, Inc.
11,234
1,965,838
Waste Management, Inc.
29,975
6,338,514
 
47,862,133
 
Consumer Discretionary Distribution & Retail 5.4%
Amazon.com, Inc. *
789,650
213,710,876
AutoNation, Inc. *
2,145
402,659
AutoZone, Inc. *
1,341
3,936,090
Bath & Body Works, Inc.
17,206
344,464
Best Buy Co., Inc.
15,826
1,233,637
Boot Barn Holdings, Inc. *
2,412
409,726
Burlington Stores, Inc. *
5,048
1,634,694
CarMax, Inc. *
11,286
503,581
Carvana Co. *
57,072
4,166,256
Chewy, Inc., Class A *
19,497
439,462
Coupang, Inc. *
109,237
1,813,334
Dick's Sporting Goods, Inc.
5,339
1,214,996
Dillard's, Inc., Class A
225
132,797
eBay, Inc.
36,604
3,999,719
Etsy, Inc. *
7,860
533,851
Five Below, Inc. *
4,446
1,010,843
Floor & Decor Holdings, Inc., Class A *
8,524
438,134
GameStop Corp., Class A *
33,670
713,131
Gap, Inc.
18,830
398,255
Genuine Parts Co.
11,235
1,108,895
Group 1 Automotive, Inc.
941
297,676
Home Depot, Inc.
80,519
25,535,796
Lithia Motors, Inc.
1,930
561,418
LKQ Corp.
20,617
559,133
Lowe's Cos., Inc.
45,399
9,731,730
Murphy USA, Inc.
1,352
684,153
Ollie's Bargain Outlet Holdings, Inc. *
4,815
393,048
  
23

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
O'Reilly Automotive, Inc. *
67,948
5,903,322
Penske Automotive Group, Inc.
1,426
238,670
Pool Corp.
2,673
484,882
Ross Stores, Inc.
26,189
6,068,777
TJX Cos., Inc.
89,798
13,896,240
Tractor Supply Co.
42,563
1,342,011
Ulta Beauty, Inc. *
3,567
1,815,068
Urban Outfitters, Inc. *
4,240
308,036
Wayfair, Inc., Class A *
8,478
612,620
Williams-Sonoma, Inc.
9,633
1,960,990
 
308,538,970
 
Consumer Durables & Apparel 0.5%
Deckers Outdoor Corp. *
11,377
1,295,272
DR Horton, Inc.
21,832
3,211,269
Garmin Ltd.
13,228
3,094,294
Hasbro, Inc.
10,724
924,087
Installed Building Products, Inc.
1,867
392,033
Lennar Corp., Class A
17,564
1,576,896
Lululemon Athletica, Inc. *
8,602
1,128,410
Mattel, Inc. *
24,793
370,407
Meritage Homes Corp.
5,459
356,145
Mohawk Industries, Inc. *
4,143
445,041
NIKE, Inc., Class B
96,618
4,466,650
NVR, Inc. *
227
1,385,790
PulteGroup, Inc.
15,522
1,834,390
Ralph Lauren Corp.
3,151
1,146,649
SharkNinja, Inc. *
5,730
698,430
Somnigroup International, Inc.
16,925
1,198,459
Tapestry, Inc.
16,477
2,396,744
Taylor Morrison Home Corp. *
7,840
458,640
Toll Brothers, Inc.
7,593
1,051,934
TopBuild Corp. *
2,267
946,427
VF Corp.
26,555
456,215
Whirlpool Corp.
4,992
216,753
 
29,050,935
 
Consumer Services 1.7%
ADT, Inc.
47,125
316,209
Airbnb, Inc., Class A *
34,301
4,572,666
Aramark
21,042
1,123,222
Booking Holdings, Inc.
65,154
10,908,734
Boyd Gaming Corp.
4,771
394,466
Bright Horizons Family Solutions, Inc. *
4,462
279,411
Brinker International, Inc. *
3,543
504,452
Caesars Entertainment, Inc. *
16,335
474,532
Carnival Corp. Ltd.
103,863
2,914,396
Cava Group, Inc. *
8,188
635,880
Chipotle Mexican Grill, Inc. *
105,102
3,348,550
Choice Hotels International, Inc. (a)
1,793
195,222
Churchill Downs, Inc.
5,470
477,039
Darden Restaurants, Inc.
9,323
1,901,053
Domino's Pizza, Inc.
2,535
787,320
DoorDash, Inc., Class A *
30,171
4,805,939
DraftKings, Inc., Class A *
39,823
975,265
Duolingo, Inc. *
3,154
351,230
Dutch Bros, Inc., Class A *
10,152
588,816
Expedia Group, Inc.
9,431
2,129,426
Flutter Entertainment PLC *
14,333
1,390,014
Grand Canyon Education, Inc. *
2,215
331,918
H&R Block, Inc.
10,129
389,865
Hilton Worldwide Holdings, Inc.
18,579
6,087,595
Hyatt Hotels Corp., Class A
3,390
614,810
Las Vegas Sands Corp.
24,314
1,229,559
Liberty Live Holdings, Inc., Class C *
3,983
394,715
Life Time Group Holdings, Inc. *
12,015
397,456
Marriott International, Inc., Class A
17,747
6,665,773
SECURITY
NUMBER
OF SHARES
VALUE ($)
McDonald's Corp.
57,553
16,068,798
MGM Resorts International *
15,326
669,286
Norwegian Cruise Line Holdings Ltd. *
36,299
665,724
Planet Fitness, Inc., Class A *
6,777
362,637
Royal Caribbean Cruises Ltd.
20,352
5,792,790
Service Corp. International
11,125
836,489
Starbucks Corp.
92,015
9,124,207
Stride, Inc. *
3,439
317,695
Texas Roadhouse, Inc.
5,341
964,691
Vail Resorts, Inc.
2,988
399,197
Viking Holdings Ltd. *
14,909
1,373,268
Wingstop, Inc.
2,168
340,289
Wyndham Hotels & Resorts, Inc.
6,151
493,679
Wynn Resorts Ltd.
6,764
684,652
Yum! Brands, Inc.
22,500
3,328,875
 
96,607,810
 
Consumer Staples Distribution & Retail 1.7%
Albertsons Cos., Inc., Class A
29,531
460,979
BJ's Wholesale Club Holdings, Inc. *
10,592
903,286
Casey's General Stores, Inc.
3,014
2,312,160
Costco Wholesale Corp.
35,882
34,314,674
Dollar General Corp.
17,690
1,956,691
Dollar Tree, Inc. *
14,839
1,727,853
Kroger Co.
47,018
2,922,169
Maplebear, Inc. *
14,678
584,184
Performance Food Group Co. *
12,638
1,240,925
Sprouts Farmers Market, Inc. *
7,861
649,476
Sysco Corp.
38,699
2,933,771
Target Corp.
36,507
4,638,945
U.S. Foods Holding Corp. *
17,718
1,450,218
Walmart, Inc.
354,383
41,019,832
 
97,115,163
 
Energy 3.2%
Antero Midstream Corp.
26,282
550,871
Antero Resources Corp. *
23,727
848,240
APA Corp.
28,800
1,049,184
Baker Hughes Co.
79,786
5,096,730
Cheniere Energy, Inc.
17,359
3,903,345
Chevron Corp.
151,498
27,642,325
Chord Energy Corp.
4,597
606,206
ConocoPhillips
99,142
11,300,205
Devon Energy Corp.
93,094
4,141,770
Diamondback Energy, Inc.
15,650
2,996,662
DT Midstream, Inc.
8,300
1,161,834
EOG Resources, Inc.
43,791
5,840,844
EQT Corp.
50,684
2,784,072
Expand Energy Corp.
19,148
1,780,381
Exxon Mobil Corp.
337,877
49,080,013
Halliburton Co.
67,628
2,627,348
HF Sinclair Corp.
12,565
878,168
Kinder Morgan, Inc.
158,238
4,918,037
Marathon Petroleum Corp.
23,862
5,936,150
Matador Resources Co.
9,512
509,843
Occidental Petroleum Corp.
58,094
3,289,863
ONEOK, Inc.
50,760
4,260,794
Ovintiv, Inc.
22,685
1,271,267
Permian Resources Corp., Class A
60,017
1,154,127
Phillips 66
32,644
5,741,427
Range Resources Corp.
19,169
746,633
SLB Ltd.
121,159
6,609,223
Targa Resources Corp.
17,318
4,417,302
TechnipFMC PLC
32,910
2,251,702
Texas Pacific Land Corp.
4,661
1,831,773
Valero Energy Corp.
24,644
6,033,344
Venture Global, Inc., Class A
38,005
457,580
24
  

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Viper Energy, Inc., Class A
14,872
676,676
Williams Cos., Inc.
98,663
7,043,552
 
179,437,491
 
Equity Real Estate Investment Trusts (REITs) 1.9%
Agree Realty Corp.
9,621
713,397
Alexandria Real Estate Equities, Inc.
12,513
621,646
American Healthcare REIT, Inc.
14,620
714,772
American Homes 4 Rent, Class A
26,625
854,130
American Tower Corp.
37,895
7,084,849
AvalonBay Communities, Inc.
11,393
2,079,336
Brixmor Property Group, Inc.
25,188
769,745
BXP, Inc.
11,916
715,079
Camden Property Trust
8,271
881,358
CareTrust REIT, Inc.
18,230
744,149
Crown Castle, Inc.
35,330
3,232,695
CubeSmart
18,304
732,160
Digital Realty Trust, Inc.
26,139
4,966,410
EastGroup Properties, Inc.
4,376
883,558
Equinix, Inc.
7,932
8,471,693
Equity LifeStyle Properties, Inc.
15,785
975,039
Equity Residential
27,754
1,816,499
Essential Properties Realty Trust, Inc.
16,778
513,071
Essex Property Trust, Inc.
5,260
1,434,086
Extra Space Storage, Inc.
17,165
2,477,081
Federal Realty Investment Trust
6,256
748,405
First Industrial Realty Trust, Inc.
10,544
652,357
Gaming & Leisure Properties, Inc.
22,726
1,067,440
Healthcare Realty Trust, Inc.
28,360
564,931
Healthpeak Properties, Inc.
55,820
1,068,953
Host Hotels & Resorts, Inc.
51,434
1,181,953
Invitation Homes, Inc.
45,334
1,326,020
Iron Mountain, Inc.
23,890
3,063,893
Kimco Realty Corp.
54,428
1,310,626
Lamar Advertising Co., Class A
6,941
1,058,225
Lineage, Inc.
4,580
203,398
Mid-America Apartment Communities,
Inc.
9,451
1,219,841
Millrose Properties, Inc.
12,224
344,961
NNN REIT, Inc.
15,109
672,502
Omega Healthcare Investors, Inc.
24,048
1,124,484
Prologis, Inc.
75,055
10,768,141
Public Storage
12,798
3,886,625
Realty Income Corp.
74,466
4,563,277
Regency Centers Corp.
13,326
1,030,766
Rexford Industrial Realty, Inc.
18,400
652,648
Ryman Hospitality Properties, Inc.
4,986
574,038
SBA Communications Corp.
8,603
1,747,786
Simon Property Group, Inc.
26,346
5,398,559
STAG Industrial, Inc.
15,320
580,168
Sun Communities, Inc.
9,472
1,171,308
Terreno Realty Corp.
8,638
567,430
UDR, Inc.
24,402
900,434
Ventas, Inc.
38,319
3,234,890
VICI Properties, Inc.
88,166
2,488,045
Vornado Realty Trust
12,966
437,603
Welltower, Inc.
56,454
11,591,700
Weyerhaeuser Co.
58,024
1,422,168
WP Carey, Inc.
17,871
1,329,960
 
108,634,288
 
Financial Services 6.7%
Affiliated Managers Group, Inc.
2,289
693,224
Affirm Holdings, Inc., Class A *
23,743
1,748,672
AGNC Investment Corp.
88,874
925,178
Ally Financial, Inc.
22,999
984,587
American Express Co.
43,258
13,689,859
SECURITY
NUMBER
OF SHARES
VALUE ($)
Ameriprise Financial, Inc.
7,359
3,279,980
Annaly Capital Management, Inc.
57,616
1,258,910
Apollo Global Management, Inc.
37,578
4,836,664
ARES Management Corp., Class A
16,631
2,137,084
Bank of New York Mellon Corp.
55,627
7,756,073
Berkshire Hathaway, Inc., Class B *
148,228
70,331,221
Blackrock, Inc.
11,673
12,220,230
Blackstone, Inc.
60,626
7,091,423
Block, Inc. *
44,142
3,342,432
Blue Owl Capital, Inc.
51,257
526,922
Capital One Financial Corp.
50,589
9,507,191
Carlyle Group, Inc.
20,805
945,171
Cboe Global Markets, Inc.
8,501
2,835,594
Charles Schwab Corp. (b)
134,009
11,705,686
CME Group, Inc.
29,122
7,966,032
Coinbase Global, Inc., Class A *
18,073
3,416,339
Corebridge Financial, Inc.
20,323
548,721
Corpay, Inc. *
5,658
2,047,064
Credit Acceptance Corp. *
474
271,905
Enact Holdings, Inc.
2,546
106,397
Equitable Holdings, Inc.
23,116
955,847
Essent Group Ltd.
7,717
446,737
Evercore, Inc., Class A
3,142
1,070,982
FactSet Research Systems, Inc. (a)
3,030
743,774
Fidelity National Information Services,
Inc.
41,634
1,789,846
FirstCash Holdings, Inc.
3,143
691,177
Fiserv, Inc. *
43,658
2,469,296
Franklin Resources, Inc.
25,149
780,122
Global Payments, Inc.
19,112
1,443,147
Goldman Sachs Group, Inc.
24,250
24,869,830
Hamilton Lane, Inc., Class A
3,251
283,260
Houlihan Lokey, Inc.
4,470
633,220
Interactive Brokers Group, Inc., Class A
36,159
3,144,748
Intercontinental Exchange, Inc.
45,956
6,794,595
Invesco Ltd.
35,608
1,013,404
Jack Henry & Associates, Inc.
5,868
799,926
Jackson Financial, Inc., Class A
5,651
582,675
Janus Henderson Group PLC
9,767
505,052
Jefferies Financial Group, Inc.
13,458
709,506
KKR & Co., Inc.
55,519
5,326,493
Lazard, Inc., Class A
8,868
419,722
LPL Financial Holdings, Inc.
6,498
1,778,957
MarketAxess Holdings, Inc.
2,937
381,927
Mastercard, Inc., Class A
65,825
32,516,234
MGIC Investment Corp.
17,890
451,186
Moelis & Co., Class A
6,174
415,448
Moody's Corp.
12,381
5,611,688
Morgan Stanley
97,297
20,237,776
Morningstar, Inc.
1,826
332,369
MSCI, Inc.
5,922
3,739,032
Nasdaq, Inc.
36,396
3,367,358
Northern Trust Corp.
15,117
2,501,108
OneMain Holdings, Inc.
9,426
521,352
PayPal Holdings, Inc.
74,295
3,324,701
PennyMac Financial Services, Inc.
2,325
194,998
Piper Sandler Cos.
5,353
419,729
Raymond James Financial, Inc.
14,170
2,032,120
Rithm Capital Corp.
44,219
412,121
Robinhood Markets, Inc., Class A *
63,771
6,013,605
Rocket Cos., Inc., Class A *
78,384
1,137,352
S&P Global, Inc.
24,734
10,487,216
SEI Investments Co.
7,546
663,142
Shift4 Payments, Inc., Class A *
5,316
236,881
SLM Corp.
15,897
351,642
SoFi Technologies, Inc. *
102,604
1,869,445
Starwood Property Trust, Inc.
27,699
473,099
State Street Corp.
22,492
3,500,655
Stifel Financial Corp.
12,205
856,181
  
25

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
StoneX Group, Inc. *
5,725
648,929
Synchrony Financial
28,231
2,016,823
T. Rowe Price Group, Inc.
17,777
1,858,230
Toast, Inc., Class A *
38,802
1,010,016
TPG, Inc.
10,385
442,089
Tradeweb Markets, Inc., Class A
9,424
944,756
Upstart Holdings, Inc. *
6,771
228,792
Visa, Inc., Class A
135,890
44,349,060
Voya Financial, Inc.
7,737
628,399
WEX, Inc. *
2,707
392,407
 
381,992,741
 
Food, Beverage & Tobacco 1.9%
Altria Group, Inc.
135,723
9,443,606
Archer-Daniels-Midland Co.
38,897
3,103,203
Brown-Forman Corp., Class B
14,024
360,697
Bunge Global SA
11,067
1,364,561
Cal-Maine Foods, Inc.
3,628
271,084
Campbell's Co. (a)
15,875
335,121
Celsius Holdings, Inc. *
12,883
428,617
Coca-Cola Co.
312,816
24,715,592
Coca-Cola Consolidated, Inc.
4,611
798,902
Conagra Brands, Inc.
38,634
513,060
Constellation Brands, Inc., Class A
11,342
1,574,496
General Mills, Inc.
42,930
1,451,463
Hershey Co.
12,028
2,333,793
Hormel Foods Corp.
23,311
541,515
Ingredion, Inc.
5,009
508,113
J.M. Smucker Co.
8,759
903,929
Keurig Dr. Pepper, Inc.
109,494
3,288,105
Kraft Heinz Co.
69,210
1,661,732
Lamb Weston Holdings, Inc.
11,041
476,750
McCormick & Co., Inc. - Non Voting
Shares
20,439
968,195
Molson Coors Beverage Co., Class B
13,559
535,987
Mondelez International, Inc., Class A
103,542
6,333,664
Monster Beverage Corp. *
57,582
5,071,823
PepsiCo, Inc.
110,504
15,933,572
Philip Morris International, Inc.
125,812
22,316,533
Pilgrim's Pride Corp.
3,403
96,339
Post Holdings, Inc. *
3,397
311,980
Primo Brands Corp.
20,477
507,830
Smithfield Foods, Inc.
1,759
45,435
Tyson Foods, Inc., Class A
22,932
1,399,311
 
107,595,008
 
Health Care Equipment & Services 2.9%
Abbott Laboratories
140,678
12,042,037
Align Technology, Inc. *
5,333
933,008
Baxter International, Inc.
42,169
791,934
Becton Dickinson & Co.
22,971
3,379,494
Boston Scientific Corp. *
120,116
5,802,804
Cardinal Health, Inc.
19,010
3,741,168
Cencora, Inc.
15,714
4,232,723
Centene Corp. *
38,024
2,266,230
Chemed Corp.
1,154
492,077
Cigna Group
21,331
5,917,219
Cooper Cos., Inc. *
15,821
968,403
CVS Health Corp.
102,718
9,345,284
DaVita, Inc. *
2,674
519,719
Dexcom, Inc. *
30,964
2,283,285
Doximity, Inc., Class A *
10,857
232,340
Edwards Lifesciences Corp. *
47,040
4,067,549
Elevance Health, Inc.
17,869
7,025,912
Encompass Health Corp.
8,247
872,945
Ensign Group, Inc.
4,721
791,476
GE HealthCare Technologies, Inc.
37,050
2,309,697
SECURITY
NUMBER
OF SHARES
VALUE ($)
Glaukos Corp. *
4,703
486,055
Globus Medical, Inc., Class A *
8,967
734,218
Guardant Health, Inc. *
10,378
1,345,923
HCA Healthcare, Inc.
12,633
4,782,096
HealthEquity, Inc. *
6,951
611,619
Henry Schein, Inc. *
8,162
625,046
Hims & Hers Health, Inc. *
16,559
433,018
Humana, Inc.
9,789
2,989,756
IDEXX Laboratories, Inc. *
6,434
3,625,752
Insulet Corp. *
5,626
815,432
Intuitive Surgical, Inc. *
28,721
12,196,085
IRhythm Holdings, Inc. *
2,549
290,331
Labcorp Holdings, Inc.
6,665
1,733,300
Masimo Corp. *
3,637
649,023
McKesson Corp.
9,904
7,353,126
Medtronic PLC
103,651
7,650,480
Merit Medical Systems, Inc. *
4,656
293,607
Molina Healthcare, Inc. *
4,097
711,239
Penumbra, Inc. *
3,205
1,020,152
Quest Diagnostics, Inc.
8,836
1,722,136
RadNet, Inc. *
5,405
300,140
ResMed, Inc.
11,717
2,232,909
Solventum Corp. *
12,064
904,197
STERIS PLC
7,871
1,674,398
Stryker Corp.
27,813
8,485,468
Teleflex, Inc.
3,564
458,473
Tenet Healthcare Corp. *
7,057
1,237,233
UnitedHealth Group, Inc.
73,240
27,853,904
Universal Health Services, Inc., Class B
4,388
641,131
Veeva Systems, Inc., Class A *
12,313
2,146,648
Waystar Holding Corp. *
9,030
179,787
Zimmer Biomet Holdings, Inc.
15,884
1,307,730
 
165,505,716
 
Household & Personal Products 0.8%
Church & Dwight Co., Inc.
19,056
1,822,325
Clorox Co.
9,841
885,887
Colgate-Palmolive Co.
65,225
5,878,729
elf Beauty, Inc. *
4,985
279,160
Estee Lauder Cos., Inc., Class A
19,976
1,776,865
Kenvue, Inc.
154,520
2,670,106
Kimberly-Clark Corp.
26,878
2,623,293
Procter & Gamble Co.
187,916
26,977,221
 
42,913,586
 
Insurance 1.5%
Aflac, Inc.
37,722
4,240,707
Allstate Corp.
21,003
4,328,508
American Financial Group, Inc.
5,586
725,063
American International Group, Inc.
43,310
3,214,901
Aon PLC, Class A
17,342
5,481,112
Arch Capital Group Ltd. *
28,840
2,576,566
Arthur J Gallagher & Co.
20,743
4,171,625
Assurant, Inc.
4,081
1,015,638
Axis Capital Holdings Ltd.
6,287
596,825
Brown & Brown, Inc.
23,587
1,326,769
Chubb Ltd.
29,403
9,165,797
Cincinnati Financial Corp.
12,597
1,983,020
CNA Financial Corp.
1,515
63,721
Erie Indemnity Co., Class A
2,085
444,251
Everest Group Ltd.
3,281
1,063,142
Fidelity National Financial, Inc.
20,452
968,402
First American Financial Corp.
8,157
540,238
Globe Life, Inc.
6,504
996,673
Hanover Insurance Group, Inc.
2,824
525,829
Hartford Insurance Group, Inc.
22,516
2,862,459
Kinsale Capital Group, Inc.
1,809
551,329
26
  

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Lincoln National Corp.
13,666
482,273
Loews Corp.
13,621
1,410,455
Markel Group, Inc. *
1,014
1,841,008
Marsh & McLennan Cos., Inc.
39,064
6,249,068
MetLife, Inc.
44,506
3,680,201
Old Republic International Corp.
18,327
682,314
Primerica, Inc.
2,624
708,401
Principal Financial Group, Inc.
16,063
1,664,448
Progressive Corp.
47,445
9,033,528
Prudential Financial, Inc.
28,168
2,834,828
Reinsurance Group of America, Inc.,
Class A
5,321
1,068,138
RenaissanceRe Holdings Ltd.
3,479
975,338
RLI Corp.
7,311
365,842
Ryan Specialty Holdings, Inc.
9,148
291,364
Travelers Cos., Inc.
17,490
5,105,156
Unum Group
12,235
1,018,319
W.R. Berkley Corp.
23,985
1,524,007
Willis Towers Watson PLC
7,746
1,933,944
 
87,711,207
 
Materials 2.1%
Air Products & Chemicals, Inc.
18,047
5,028,255
Albemarle Corp.
9,595
1,692,750
Alcoa Corp.
21,114
1,639,291
Amcor PLC
37,030
1,437,505
Amrize Ltd. *
41,764
2,271,544
Anglogold Ashanti PLC
34,170
3,309,023
AptarGroup, Inc.
5,140
595,469
Avery Dennison Corp.
6,303
1,002,618
Axalta Coating Systems Ltd. *
17,317
532,844
Balchem Corp.
2,568
402,483
Ball Corp.
21,834
1,193,665
Celanese Corp.
9,003
478,329
CF Industries Holdings, Inc.
12,638
1,419,879
Cleveland-Cliffs, Inc. *
45,702
621,547
Coeur Mining, Inc.
83,494
1,613,104
Commercial Metals Co.
8,793
668,708
Corteva, Inc.
54,351
4,254,596
CRH PLC
54,093
5,884,777
Crown Holdings, Inc.
8,932
849,255
Dow, Inc.
57,861
1,952,809
DuPont de Nemours, Inc.
32,954
1,595,633
Eagle Materials, Inc.
2,547
563,345
Eastman Chemical Co.
9,261
702,632
Ecolab, Inc.
20,616
5,277,696
Element Solutions, Inc.
18,607
789,495
Freeport-McMoRan, Inc.
115,973
7,620,586
Graphic Packaging Holding Co.
23,646
266,254
Hecla Mining Co.
54,675
971,575
International Flavors & Fragrances, Inc.
20,752
1,578,190
International Paper Co.
42,423
1,419,898
Linde PLC
37,750
18,787,797
Louisiana-Pacific Corp.
5,228
399,315
LyondellBasell Industries NV, Class A
20,752
1,383,121
Martin Marietta Materials, Inc.
4,896
2,847,709
Mosaic Co.
25,676
613,656
MP Materials Corp. *
10,722
693,713
NewMarket Corp.
646
499,733
Newmont Corp.
88,192
9,684,364
Nucor Corp.
18,553
4,638,250
Packaging Corp. of America
7,214
1,579,217
PPG Industries, Inc.
18,251
2,061,998
Reliance, Inc.
4,263
1,623,222
Royal Gold, Inc.
6,566
1,473,936
RPM International, Inc.
10,235
1,084,603
Sherwin-Williams Co.
18,622
5,658,108
Smurfit Westrock PLC
41,948
1,726,160
SECURITY
NUMBER
OF SHARES
VALUE ($)
Solstice Advanced Materials, Inc.
12,745
1,073,511
Steel Dynamics, Inc.
11,053
2,875,438
Vulcan Materials Co.
10,638
3,009,703
Westlake Corp.
2,607
226,366
 
119,573,675
 
Media & Entertainment 9.0%
Alphabet, Inc., Class A
470,616
178,994,089
Alphabet, Inc., Class C
378,035
142,303,715
Charter Communications, Inc., Class A *
6,925
997,546
EchoStar Corp., Class A *
10,936
1,412,822
Electronic Arts, Inc.
18,219
3,675,137
Fox Corp., Class A
26,527
1,695,606
Liberty Broadband Corp., Class C *
9,507
320,956
Liberty Media Corp.-Liberty Formula
One, Class C *
17,974
1,631,860
Live Nation Entertainment, Inc. *
12,821
2,159,185
Match Group, Inc.
19,144
691,673
Meta Platforms, Inc., Class A
176,798
111,826,503
Netflix, Inc. *
341,257
29,354,927
New York Times Co., Class A
12,989
976,903
News Corp., Class A
41,284
1,077,512
Nexstar Media Group, Inc.
2,346
418,597
Omnicom Group, Inc.
25,398
1,846,689
Paramount Skydance Corp., Class B (a)
25,080
266,099
Pinterest, Inc., Class A *
47,306
948,485
Reddit, Inc., Class A *
10,355
1,822,480
ROBLOX Corp., Class A *
53,509
2,522,949
Roku, Inc. *
10,543
1,372,488
Sirius XM Holdings, Inc.
15,006
442,977
Snap, Inc., Class A *
89,060
508,533
Take-Two Interactive Software, Inc. *
14,082
3,156,621
TKO Group Holdings, Inc.
5,363
1,100,380
Trade Desk, Inc., Class A *
35,740
770,554
Versant Media Group, Inc.
11,580
499,561
Walt Disney Co.
143,296
14,591,832
Warner Bros Discovery, Inc. *
200,413
5,413,155
 
512,799,834
 
Pharmaceuticals, Biotechnology & Life Sciences 5.5%
AbbVie, Inc.
142,812
31,093,029
Agilent Technologies, Inc.
22,822
3,093,066
Alnylam Pharmaceuticals, Inc. *
10,745
3,244,775
Amgen, Inc.
43,549
14,666,868
Atrium Therapeutics, Inc. *
1,088
14,144
Avantor, Inc. *
54,749
499,311
Axsome Therapeutics, Inc. *
3,484
816,928
Biogen, Inc. *
11,901
2,332,596
BioMarin Pharmaceutical, Inc. *
15,740
901,745
Bio-Rad Laboratories, Inc., Class A *
1,506
470,595
Bio-Techne Corp.
12,749
658,868
Bridgebio Pharma, Inc. *
13,777
912,864
Bristol-Myers Squibb Co.
164,748
9,420,291
Charles River Laboratories International,
Inc. *
3,923
708,925
Corcept Therapeutics, Inc. *
7,450
517,701
Cytokinetics, Inc. *
10,669
818,952
Danaher Corp.
50,937
9,304,662
Elanco Animal Health, Inc. *
39,842
950,232
Eli Lilly & Co.
64,054
70,779,670
Exelixis, Inc. *
20,905
1,055,284
Gilead Sciences, Inc.
100,198
13,469,617
Halozyme Therapeutics, Inc. *
9,424
627,073
Illumina, Inc. *
12,442
2,027,548
Incyte Corp. *
13,461
1,302,217
Insmed, Inc. *
17,313
1,850,933
Ionis Pharmaceuticals, Inc. *
13,044
997,866
  
27

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
IQVIA Holdings, Inc. *
13,707
2,497,553
Jazz Pharmaceuticals PLC *
4,931
1,166,132
Johnson & Johnson
194,804
43,895,185
Madrigal Pharmaceuticals, Inc. *
1,516
753,861
Medpace Holdings, Inc. *
1,813
810,610
Merck & Co., Inc.
200,572
23,811,908
Mettler-Toledo International, Inc. *
1,634
1,929,068
Moderna, Inc. *
28,158
1,328,776
Natera, Inc. *
11,204
2,502,638
Neurocrine Biosciences, Inc. *
8,207
1,299,168
Nuvalent, Inc., Class A *
4,333
478,320
Pfizer, Inc.
459,239
12,022,877
Regeneron Pharmaceuticals, Inc.
8,135
5,001,235
Repligen Corp. *
4,304
533,481
Revolution Medicines, Inc. *
15,829
2,492,751
Revvity, Inc.
9,073
948,582
Rhythm Pharmaceuticals, Inc. *
4,991
440,805
Roivant Sciences Ltd. *
36,337
1,089,747
Royalty Pharma PLC, Class A
30,454
1,698,115
Summit Therapeutics, Inc. *
13,098
229,739
Tempus AI, Inc., Class A *
8,196
413,652
Thermo Fisher Scientific, Inc.
30,344
14,944,724
United Therapeutics Corp. *
3,495
1,946,086
Vertex Pharmaceuticals, Inc. *
20,539
9,192,024
Viatris, Inc.
92,605
1,505,757
Waters Corp. *
7,960
3,053,217
West Pharmaceutical Services, Inc.
5,782
1,866,487
Zoetis, Inc.
34,174
2,654,978
 
313,043,236
 
Real Estate Management & Development 0.1%
CBRE Group, Inc., Class A *
23,404
2,926,436
CoStar Group, Inc. *
34,142
1,099,372
Jones Lang LaSalle, Inc. *
3,782
1,067,697
Zillow Group, Inc., Class C *
14,539
508,865
 
5,602,370
 
Semiconductors & Semiconductor Equipment 17.5%
Advanced Micro Devices, Inc. *
131,767
68,004,949
Allegro MicroSystems, Inc. *
9,930
475,349
Amkor Technology, Inc.
9,232
642,178
Analog Devices, Inc.
39,469
16,334,246
Applied Materials, Inc.
64,152
28,872,249
Astera Labs, Inc. *
10,767
3,691,466
Broadcom, Inc.
383,256
171,227,283
Cirrus Logic, Inc. *
4,157
706,482
Credo Technology Group Holding Ltd. *
12,805
3,022,364
Enphase Energy, Inc. *
10,797
738,083
Entegris, Inc.
12,347
1,713,640
First Solar, Inc. *
8,644
2,651,893
GLOBALFOUNDRIES, Inc. *
8,743
699,178
Impinj, Inc. *
2,086
314,986
Intel Corp. *
379,664
43,539,867
KLA Corp.
10,600
20,370,126
Lam Research Corp.
100,976
32,128,544
Lattice Semiconductor Corp. *
11,027
1,621,851
MACOM Technology Solutions Holdings,
Inc. *
5,214
1,901,233
Marvell Technology, Inc.
70,547
14,462,135
Microchip Technology, Inc.
43,883
4,153,526
Micron Technology, Inc.
90,979
88,340,609
MKS, Inc.
5,434
1,762,029
Monolithic Power Systems, Inc.
3,936
6,164,603
NVIDIA Corp.
1,964,267
414,735,334
NXP Semiconductors NV
20,327
6,532,081
ON Semiconductor Corp. *
31,820
3,838,128
Qnity Electronics, Inc.
16,962
2,646,072
SECURITY
NUMBER
OF SHARES
VALUE ($)
Qorvo, Inc. *
6,756
699,651
QUALCOMM, Inc.
86,303
21,663,779
Rambus, Inc. *
8,666
1,260,556
Semtech Corp. *
7,433
1,133,830
SiTime Corp. *
1,804
1,281,201
Skyworks Solutions, Inc.
12,175
947,824
Teradyne, Inc.
12,631
4,727,910
Texas Instruments, Inc.
73,354
22,422,851
Universal Display Corp.
3,554
327,394
 
995,755,480
 
Software & Services 9.7%
Accenture PLC, Class A
49,790
9,314,215
ACI Worldwide, Inc. *
8,071
352,461
Adobe, Inc. *
33,216
8,609,919
Akamai Technologies, Inc. *
11,627
1,738,702
Amdocs Ltd.
8,648
544,565
Appfolio, Inc., Class A *
1,984
319,761
AppLovin Corp., Class A *
21,907
13,430,963
Atlassian Corp., Class A *
13,885
1,494,165
Aurora Innovation, Inc. *
102,721
753,972
Autodesk, Inc. *
17,173
3,972,287
Bentley Systems, Inc., Class B
11,819
385,772
Bill Holdings, Inc. *
7,014
259,658
Cadence Design Systems, Inc. *
21,975
8,239,087
CCC Intelligent Solutions Holdings, Inc. *
47,415
222,851
Circle Internet Group, Inc. *
4,398
496,974
Clearwater Analytics Holdings, Inc.,
Class A *
23,069
561,499
Cloudflare, Inc., Class A *
25,625
6,196,637
Cognizant Technology Solutions Corp.,
Class A
38,461
2,144,393
Commvault Systems, Inc. *
3,592
426,550
CoreWeave, Inc., Class A *
19,469
2,132,440
Crowdstrike Holdings, Inc., Class A *
20,376
14,894,856
Datadog, Inc., Class A *
26,598
6,579,015
Docusign, Inc. *
16,108
845,992
Dropbox, Inc., Class A *
13,918
374,116
D-Wave Quantum, Inc. *
29,799
898,142
Dynatrace, Inc. *
24,180
1,029,826
Elastic NV *
7,389
478,068
EPAM Systems, Inc. *
4,388
449,594
Fair Isaac Corp. *
1,907
2,384,875
Figma, Inc., Class A *
2,736
69,768
Fortinet, Inc. *
51,181
7,061,443
Gartner, Inc. *
5,676
920,647
Gen Digital, Inc.
45,139
1,164,135
Gitlab, Inc., Class A *
11,045
342,947
GoDaddy, Inc., Class A *
10,839
930,311
Guidewire Software, Inc. *
6,859
1,047,164
HubSpot, Inc. *
4,244
936,354
InterDigital, Inc.
2,092
527,372
International Business Machines Corp.
75,578
22,507,128
Intuit, Inc.
22,474
7,450,805
Kyndryl Holdings, Inc. *
18,405
229,510
Life360, Inc. *
6,492
275,845
Manhattan Associates, Inc. *
4,744
711,837
MARA Holdings, Inc. *
29,679
426,784
Microsoft Corp.
600,244
270,253,859
MongoDB, Inc. *
6,545
2,196,175
Nutanix, Inc., Class A *
22,013
1,146,217
Okta, Inc. *
13,550
1,670,309
Oracle Corp.
137,121
30,959,179
Palantir Technologies, Inc., Class A *
184,718
28,915,756
Palo Alto Networks, Inc. *
65,353
18,409,287
Pegasystems, Inc.
7,401
264,438
Procore Technologies, Inc. *
9,717
480,894
PTC, Inc. *
9,605
1,332,502
28
  

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Roper Technologies, Inc.
8,629
2,808,998
Rubrik, Inc., Class A *
12,184
958,028
SailPoint, Inc. *
5,621
105,843
Salesforce, Inc.
75,671
14,460,728
Samsara, Inc., Class A *
28,904
1,011,351
SentinelOne, Inc., Class A *
26,860
444,533
ServiceNow, Inc. *
84,530
10,512,996
ServiceTitan, Inc., Class A *
4,772
345,302
Snowflake, Inc., Class A *
27,715
7,082,568
SoundHound AI, Inc., Class A *(a)
30,029
270,261
Strategy, Inc., Class A *
25,270
4,020,204
Synopsys, Inc. *
15,443
7,345,000
Trimble, Inc. *
19,102
1,077,544
Twilio, Inc., Class A *
12,297
2,344,300
Tyler Technologies, Inc. *
3,450
1,080,368
UiPath, Inc., Class A *
34,602
405,535
Unity Software, Inc. *
27,590
840,667
Varonis Systems, Inc. *
9,771
333,680
VeriSign, Inc.
6,694
1,910,334
Workday, Inc., Class A *
17,172
2,510,375
Zoom Communications, Inc., Class A *
21,363
2,170,267
Zscaler, Inc. *
8,246
1,152,214
 
552,953,117
 
Technology Hardware & Equipment 10.2%
Advanced Energy Industries, Inc.
3,063
925,577
Amphenol Corp., Class A
99,376
14,783,174
Apple, Inc.
1,186,736
370,332,836
Arista Networks, Inc. *
83,540
13,322,124
Arrow Electronics, Inc. *
4,150
890,714
Badger Meter, Inc.
2,461
304,918
Belden, Inc.
3,183
334,470
CDW Corp.
10,476
1,314,214
Ciena Corp. *
11,403
6,616,363
Cisco Systems, Inc.
319,405
38,462,750
Cognex Corp.
13,216
870,274
Coherent Corp. *
15,183
5,488,199
Corning, Inc.
63,059
11,423,768
Dell Technologies, Inc., Class C
24,046
10,121,202
Everpure, Inc., Class A *
25,255
2,008,025
F5, Inc. *
4,559
1,748,149
Fabrinet *
2,880
1,883,981
Flex Ltd. *
29,690
4,476,658
Hewlett Packard Enterprise Co.
107,740
4,637,130
HP, Inc.
74,081
2,003,150
IonQ, Inc. *
28,538
2,056,734
Itron, Inc. *
3,638
300,062
Jabil, Inc.
8,504
3,100,218
Keysight Technologies, Inc. *
13,851
4,686,209
Littelfuse, Inc.
2,005
936,074
Lumentum Holdings, Inc. *
5,784
4,945,089
Mirion Technologies, Inc. *
19,893
363,644
Motorola Solutions, Inc.
13,409
5,407,582
NetApp, Inc.
16,092
2,804,675
Sandisk Corp. *
11,932
20,224,501
Sanmina Corp. *
4,475
1,162,292
Seagate Technology Holdings PLC
17,646
15,524,951
Super Micro Computer, Inc. *
41,155
1,896,834
TD SYNNEX Corp.
6,097
1,593,024
TE Connectivity PLC
23,718
5,061,658
Teledyne Technologies, Inc. *
3,774
2,339,238
Ubiquiti, Inc.
345
201,432
Vontier Corp.
11,577
328,555
Western Digital Corp.
27,407
14,558,872
Zebra Technologies Corp., Class A *
3,937
959,171
 
580,398,491
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Telecommunication Services 0.8%
AST SpaceMobile, Inc. *
20,075
2,276,706
AT&T, Inc.
565,242
14,018,002
Comcast Corp., Class A
289,992
7,212,101
T-Mobile U.S., Inc.
38,303
7,182,961
Verizon Communications, Inc.
341,003
16,303,353
 
46,993,123
 
Transportation 1.3%
Alaska Air Group, Inc. *
9,075
417,632
American Airlines Group, Inc. *
52,822
773,314
Avis Budget Group, Inc. *
1,355
238,263
CH Robinson Worldwide, Inc.
9,603
1,715,576
CSX Corp.
150,440
6,808,914
Delta Air Lines, Inc.
52,399
4,321,870
Expeditors International of Washington,
Inc.
10,802
1,706,608
FedEx Corp.
17,509
7,209,331
GXO Logistics, Inc. *
9,529
477,498
JB Hunt Transport Services, Inc.
6,052
1,672,954
Joby Aviation, Inc. *
48,916
582,100
Knight-Swift Transportation Holdings,
Inc.
12,984
981,980
Lyft, Inc., Class A *
31,954
450,871
Norfolk Southern Corp.
18,134
5,530,145
Old Dominion Freight Line, Inc.
14,850
3,343,478
Ryder System, Inc.
3,184
798,706
Saia, Inc. *
2,157
1,018,902
Southwest Airlines Co.
39,602
1,700,906
Uber Technologies, Inc. *
166,287
11,706,605
U-Haul Holding Co., Non Voting Shares
7,927
412,363
Union Pacific Corp.
48,019
12,611,710
United Airlines Holdings, Inc. *
26,014
2,986,407
United Parcel Service, Inc., Class B
59,826
6,382,836
XPO, Inc. *
9,501
2,035,589
 
75,884,558
 
Utilities 2.1%
AES Corp.
57,217
839,373
Alliant Energy Corp.
20,908
1,497,222
Ameren Corp.
22,283
2,405,896
American Electric Power Co., Inc.
43,780
5,545,613
American Water Works Co., Inc.
15,681
1,932,997
Atmos Energy Corp.
13,337
2,255,687
CenterPoint Energy, Inc.
52,755
2,229,426
CMS Energy Corp.
24,897
1,806,775
Consolidated Edison, Inc.
29,214
3,085,875
Constellation Energy Corp.
25,209
7,253,890
Dominion Energy, Inc.
69,075
4,623,880
DTE Energy Co.
16,833
2,404,931
Duke Energy Corp.
62,810
7,708,671
Edison International
31,124
2,176,813
Entergy Corp.
36,472
3,977,272
Essential Utilities, Inc.
23,130
853,266
Evergy, Inc.
18,676
1,532,179
Eversource Energy
30,191
2,061,140
Exelon Corp.
82,567
3,768,358
FirstEnergy Corp.
41,906
1,944,019
IDACORP, Inc.
4,295
602,460
National Fuel Gas Co.
7,578
585,400
NextEra Energy, Inc.
168,421
14,654,311
NiSource, Inc.
38,686
1,788,067
NRG Energy, Inc.
17,234
2,310,735
OGE Energy Corp.
16,618
784,868
Oklo, Inc. *
9,919
663,383
Ormat Technologies, Inc.
4,991
684,915
  
29

Schwab 1000 Index ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
PG&E Corp.
176,938
2,891,167
Pinnacle West Capital Corp.
9,652
962,690
PPL Corp.
60,225
2,131,363
Public Service Enterprise Group, Inc.
40,326
3,171,640
Sempra
52,678
4,695,190
Southern Co.
89,157
8,206,902
Southwest Gas Holdings, Inc.
5,237
451,482
Talen Energy Corp. *
3,710
1,435,028
TXNM Energy, Inc.
7,945
470,423
UGI Corp.
17,394
607,398
Vistra Corp.
25,710
4,119,513
WEC Energy Group, Inc.
26,242
2,914,174
Xcel Energy, Inc.
47,871
3,805,744
 
117,840,136
Total Common Stocks
(Cost $3,113,547,772)
5,684,705,881
 
 
 
SHORT-TERM INVESTMENTS 0.0% OF NET ASSETS
 
Money Market Funds 0.0%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)
1,895,976
1,895,976
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)(d)
2,186,675
2,186,675
 
4,082,651
Total Short-Term Investments
(Cost $4,082,651)
4,082,651
Total Investments in Securities
(Cost $3,117,630,423)
5,688,788,532
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
S&P 400 Mid-Cap Index, e-mini,
expires 06/18/26
2
746,400
7,716
S&P 500 Index, e-mini, expires
06/18/26
15
5,696,813
112,545
 
120,261
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Issuer is affiliated with the fund’s investment adviser.
(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 $2,149,754.
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers during the period ended May 31, 2026:
SECURITY
VALUE AT
8/31/25
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
 
Financial Services 0.2%
Charles Schwab Corp. (a)
$12,246,244
$1,209,135
($639,827
)
$119,905
($1,229,771
)
$11,705,686
134,009
$118,050
(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
$5,684,705,881
$
$
$5,684,705,881
Short-Term Investments 1
4,082,651
4,082,651
Futures Contracts 2
120,261
120,261
Total
$5,688,908,793
$—
$—
$5,688,908,793
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
30
  

Schwab Strategic Trust
Schwab U.S. Large-Cap ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.8% OF NET ASSETS
 
Automobiles & Components 2.1%
Aptiv PLC *
226,745
15,405,055
Autoliv, Inc.
73,213
9,306,837
BorgWarner, Inc.
217,572
15,626,021
Ford Motor Co.
4,169,345
72,713,377
General Motors Co.
959,099
79,835,401
Rivian Automotive, Inc., Class A *
880,688
14,355,214
Tesla, Inc. *
2,983,329
1,300,104,945
Versigent PLC *
75,245
3,319,809
 
1,510,666,659
 
Banks 3.1%
Bank of America Corp.
7,039,090
363,217,044
BOK Financial Corp.
23,014
2,946,712
Citigroup, Inc.
1,855,761
233,640,310
Citizens Financial Group, Inc.
449,308
27,973,916
Commerce Bancshares, Inc.
141,542
7,391,323
Cullen/Frost Bankers, Inc.
65,654
8,897,430
East West Bancorp, Inc.
144,913
17,757,639
Fifth Third Bancorp
957,446
47,805,279
First Citizens BancShares, Inc.,
Class A
10,233
20,368,889
First Horizon Corp.
519,864
12,596,305
Huntington Bancshares, Inc.
2,152,992
35,222,949
JPMorgan Chase & Co.
2,860,496
856,175,058
KeyCorp
1,001,195
21,355,489
M&T Bank Corp.
160,438
34,672,256
PNC Financial Services Group, Inc.
427,852
94,606,634
Regions Financial Corp.
925,248
25,906,944
Truist Financial Corp.
1,339,446
64,574,692
U.S. Bancorp
1,651,242
90,570,624
Webster Financial Corp.
168,865
12,279,863
Wells Fargo & Co.
3,282,452
254,521,328
Western Alliance Bancorp
108,563
8,647,043
Zions Bancorp NA
155,565
9,715,034
 
2,250,842,761
 
Capital Goods 7.0%
3M Co.
558,344
85,499,217
A.O. Smith Corp.
117,966
6,691,032
Acuity, Inc.
31,878
9,726,297
Advanced Drainage Systems, Inc.
75,273
10,474,991
AECOM
135,670
9,411,428
AeroVironment, Inc. *
34,461
7,141,698
AGCO Corp.
64,658
7,259,800
Allegion PLC
92,662
12,052,546
AMETEK, Inc.
243,943
55,094,527
API Group Corp. *
407,869
16,722,629
Axon Enterprise, Inc. *
83,702
37,558,761
Bloom Energy Corp., Class A *
274,359
78,192,315
Boeing Co. *
832,954
192,537,317
Builders FirstSource, Inc. *
116,819
8,908,617
BWX Technologies, Inc.
97,972
19,190,755
Carlisle Cos., Inc.
43,192
14,893,034
Carpenter Technology Corp.
52,532
24,636,457
SECURITY
NUMBER
OF SHARES
VALUE ($)
Carrier Global Corp.
832,084
53,145,205
Caterpillar, Inc.
493,404
432,157,761
CNH Industrial NV
931,990
9,515,618
Comfort Systems USA, Inc.
37,140
67,899,719
Core & Main, Inc., Class A *
202,510
10,014,119
Crane Co.
51,236
9,376,188
Cummins, Inc.
146,802
94,926,577
Curtiss-Wright Corp.
38,579
28,842,046
Deere & Co.
267,538
145,053,753
Donaldson Co., Inc.
123,242
10,089,823
Dover Corp.
141,992
30,011,429
Eaton Corp. PLC
412,417
165,214,250
EMCOR Group, Inc.
47,385
39,178,866
Emerson Electric Co.
597,561
85,941,223
Fastenal Co.
1,220,019
53,924,840
Ferguson Enterprises, Inc.
207,958
46,992,269
Fortive Corp.
329,657
19,225,596
Fortune Brands Innovations, Inc.
125,119
4,872,134
FTAI Aviation Ltd.
108,553
28,260,688
GE Vernova, Inc.
285,795
276,741,014
Generac Holdings, Inc. *
62,772
17,444,967
General Dynamics Corp.
268,442
93,101,054
General Electric Co.
1,111,853
359,973,527
Graco, Inc.
173,809
13,113,889
HEICO Corp.
106,826
37,194,677
Honeywell International, Inc.
672,832
160,039,819
Howmet Aerospace, Inc.
424,660
109,668,445
Hubbell, Inc.
56,535
26,775,541
Huntington Ingalls Industries, Inc.
41,193
12,694,447
IDEX Corp.
78,621
16,575,665
Illinois Tool Works, Inc.
278,767
68,933,504
Ingersoll Rand, Inc.
375,898
26,929,333
ITT, Inc.
90,294
17,607,330
Johnson Controls International PLC
650,132
87,156,696
Kratos Defense & Security Solutions,
Inc. *
195,522
12,538,826
L3Harris Technologies, Inc.
197,670
62,301,631
Lennox International, Inc.
33,467
16,805,789
Leonardo DRS, Inc.
86,612
4,223,201
Lincoln Electric Holdings, Inc.
57,628
14,896,262
Lockheed Martin Corp.
214,423
113,740,680
Masco Corp.
218,004
15,314,781
MasTec, Inc. *
65,224
24,678,805
Middleby Corp. *
49,002
7,595,800
Nordson Corp.
55,617
15,980,433
Northrop Grumman Corp.
141,215
79,600,071
nVent Electric PLC
171,743
28,679,364
Otis Worldwide Corp.
409,945
29,040,504
Owens Corning
85,886
10,806,177
PACCAR, Inc.
557,534
61,535,028
Parker-Hannifin Corp.
133,623
112,861,994
Pentair PLC
171,872
12,175,412
Quanta Services, Inc.
158,051
112,489,638
QXO, Inc. *(a)
542,344
9,355,434
RBC Bearings, Inc. *
33,217
18,998,795
Regal Rexnord Corp.
69,811
14,085,067
Rocket Lab Corp. *
499,970
71,735,696
Rockwell Automation, Inc.
118,561
53,478,125
RTX Corp.
1,424,598
255,943,277
Snap-on, Inc.
54,638
20,282,172
StandardAero, Inc. *
204,158
5,847,085
  
31

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Stanley Black & Decker, Inc.
165,245
13,123,758
Textron, Inc.
183,036
16,795,383
Toro Co.
103,054
9,262,494
Trane Technologies PLC
234,700
105,920,110
TransDigm Group, Inc.
59,777
75,218,595
Trex Co., Inc. *
112,626
4,662,716
United Rentals, Inc.
66,814
66,524,695
Vertiv Holdings Co., Class A
405,311
127,960,736
Watsco, Inc.
36,582
13,429,252
WESCO International, Inc.
51,971
18,770,366
Westinghouse Air Brake
Technologies Corp.
180,328
47,094,460
Woodward, Inc.
63,556
22,246,507
WW Grainger, Inc.
46,090
56,886,122
Xylem, Inc.
256,993
28,151,013
 
5,045,619,687
 
Commercial & Professional Services 0.8%
Automatic Data Processing, Inc.
427,082
94,743,871
Booz Allen Hamilton Holding Corp.,
Class A
128,482
10,173,205
Broadridge Financial Solutions, Inc.
122,703
18,861,905
CACI International, Inc., Class A *
23,713
12,176,863
Cintas Corp.
360,005
61,654,456
Clean Harbors, Inc. *
53,469
15,026,393
Copart, Inc. *
949,532
31,116,164
Equifax, Inc.
127,066
21,066,272
Genpact Ltd.
169,597
5,588,221
Jacobs Solutions, Inc.
124,164
14,882,297
KBR, Inc.
136,045
4,754,773
Leidos Holdings, Inc.
135,708
17,343,482
Parsons Corp. *
56,085
3,314,623
Paychex, Inc.
342,871
33,251,630
Paycom Software, Inc.
50,786
7,093,281
Paylocity Holding Corp. *
44,227
5,083,009
RB Global, Inc.
196,050
20,849,917
Republic Services, Inc.
213,659
42,825,810
Rollins, Inc.
316,038
15,043,409
SS&C Technologies Holdings, Inc.
223,011
15,057,703
Tetra Tech, Inc.
279,611
7,686,506
TransUnion
204,048
14,601,675
Veralto Corp.
262,801
21,610,126
Verisk Analytics, Inc.
147,517
25,814,000
Waste Management, Inc.
395,047
83,536,639
 
603,156,230
 
Consumer Discretionary Distribution & Retail 5.5%
Amazon.com, Inc. *
10,362,091
2,804,396,308
AutoZone, Inc. *
17,528
51,448,010
Bath & Body Works, Inc.
224,386
4,492,208
Best Buy Co., Inc.
206,359
16,085,684
Burlington Stores, Inc. *
65,576
21,235,476
CarMax, Inc. *
150,380
6,709,956
Carvana Co. *
751,600
54,866,800
Coupang, Inc. *
1,427,239
23,692,167
Dick's Sporting Goods, Inc.
69,512
15,818,846
eBay, Inc.
480,416
52,495,056
Etsy, Inc. *
104,476
7,096,010
Floor & Decor Holdings, Inc.,
Class A *
112,500
5,782,500
GameStop Corp., Class A *
439,042
9,298,909
Genuine Parts Co.
147,114
14,520,152
Home Depot, Inc.
1,055,385
334,704,799
Lithia Motors, Inc.
25,954
7,549,759
LKQ Corp.
272,839
7,399,394
Lowe's Cos., Inc.
594,241
127,381,501
Murphy USA, Inc.
18,066
9,141,938
SECURITY
NUMBER
OF SHARES
VALUE ($)
O'Reilly Automotive, Inc. *
894,006
77,671,241
Penske Automotive Group, Inc.
19,387
3,244,802
Pool Corp.
34,199
6,203,699
Ross Stores, Inc.
343,853
79,681,056
TJX Cos., Inc.
1,177,625
182,237,469
Tractor Supply Co.
563,835
17,777,717
Ulta Beauty, Inc. *
46,829
23,828,937
Williams-Sonoma, Inc.
126,105
25,671,195
 
3,990,431,589
 
Consumer Durables & Apparel 0.5%
Deckers Outdoor Corp. *
150,570
17,142,395
DR Horton, Inc.
285,014
41,922,709
Garmin Ltd.
172,952
40,456,932
Hasbro, Inc.
140,840
12,136,183
Lennar Corp., Class A
236,138
21,200,470
Lululemon Athletica, Inc. *
112,902
14,810,484
Mohawk Industries, Inc. *
54,895
5,896,821
NIKE, Inc., Class B
1,264,920
58,477,252
NVR, Inc. *
2,956
18,045,789
PulteGroup, Inc.
203,797
24,084,729
Ralph Lauren Corp.
40,519
14,744,864
SharkNinja, Inc. *
74,238
9,048,870
Somnigroup International, Inc.
220,872
15,639,946
Tapestry, Inc.
215,651
31,368,595
Toll Brothers, Inc.
100,471
13,919,252
TopBuild Corp. *
29,507
12,318,582
 
351,213,873
 
Consumer Services 1.6%
ADT, Inc.
618,339
4,149,055
Airbnb, Inc., Class A *
449,645
59,942,175
Aramark
276,147
14,740,727
Booking Holdings, Inc.
853,944
142,975,844
Carnival Corp. Ltd.
1,362,702
38,237,418
Cava Group, Inc. *
105,000
8,154,300
Chipotle Mexican Grill, Inc. *
1,381,139
44,003,088
Churchill Downs, Inc.
71,652
6,248,771
Darden Restaurants, Inc.
122,701
25,019,961
Domino's Pizza, Inc.
32,821
10,193,546
DoorDash, Inc., Class A *
397,271
63,281,298
DraftKings, Inc., Class A *
529,601
12,969,928
Duolingo, Inc. *
40,929
4,557,853
Expedia Group, Inc.
125,237
28,277,262
Flutter Entertainment PLC *
188,184
18,250,084
Hilton Worldwide Holdings, Inc.
243,307
79,721,972
Las Vegas Sands Corp.
320,853
16,225,536
Marriott International, Inc., Class A
233,468
87,690,581
McDonald's Corp.
757,000
211,354,400
MGM Resorts International *
203,705
8,895,797
Norwegian Cruise Line Holdings
Ltd. *
479,226
8,789,005
Royal Caribbean Cruises Ltd.
266,408
75,827,709
Service Corp. International
146,957
11,049,697
Starbucks Corp.
1,208,445
119,829,406
Texas Roadhouse, Inc.
70,451
12,724,860
Wingstop, Inc.
30,002
4,709,114
Wyndham Hotels & Resorts, Inc.
77,288
6,203,135
Wynn Resorts Ltd.
90,192
9,129,234
Yum! Brands, Inc.
295,906
43,779,293
 
1,176,931,049
 
Consumer Staples Distribution & Retail 1.8%
Albertsons Cos., Inc., Class A
393,261
6,138,804
BJ's Wholesale Club Holdings, Inc. *
138,061
11,773,842
Casey's General Stores, Inc.
39,254
30,113,314
32
  

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Costco Wholesale Corp.
470,783
450,219,199
Dollar General Corp.
232,110
25,673,687
Dollar Tree, Inc. *
196,247
22,851,001
Kroger Co.
617,248
38,361,963
Maplebear, Inc. *
191,688
7,629,182
Performance Food Group Co. *
167,813
16,477,558
Sprouts Farmers Market, Inc. *
105,358
8,704,678
Sysco Corp.
508,811
38,572,962
Target Corp.
481,207
61,146,973
U.S. Foods Holding Corp. *
232,515
19,031,353
Walmart, Inc.
4,650,002
538,237,732
 
1,274,932,248
 
Energy 3.2%
Antero Resources Corp. *
310,705
11,107,704
APA Corp.
380,082
13,846,387
Baker Hughes Co.
1,047,087
66,887,918
Cheniere Energy, Inc.
227,957
51,258,411
Chevron Corp.
1,988,909
362,896,336
ConocoPhillips
1,301,139
148,303,823
Devon Energy Corp.
1,216,867
54,138,413
Diamondback Energy, Inc.
205,276
39,306,249
DT Midstream, Inc.
108,251
15,152,975
EOG Resources, Inc.
574,757
76,661,089
EQT Corp.
662,962
36,416,503
Expand Energy Corp.
253,891
23,606,785
Exxon Mobil Corp.
4,432,063
643,801,471
Halliburton Co.
890,232
34,585,513
HF Sinclair Corp.
167,347
11,695,882
Kinder Morgan, Inc.
2,072,254
64,405,654
Marathon Petroleum Corp.
312,491
77,738,386
Occidental Petroleum Corp.
764,251
43,279,534
ONEOK, Inc.
665,077
55,826,563
Ovintiv, Inc.
296,332
16,606,445
Permian Resources Corp., Class A
781,323
15,024,841
Phillips 66
427,595
75,205,409
Range Resources Corp.
248,861
9,693,136
SLB Ltd.
1,589,206
86,691,187
Targa Resources Corp.
227,386
57,999,347
TechnipFMC PLC
430,699
29,468,426
Texas Pacific Land Corp.
61,693
24,245,349
Valero Energy Corp.
322,984
79,072,943
Williams Cos., Inc.
1,296,884
92,584,549
 
2,317,507,228
 
Equity Real Estate Investment Trusts (REITs) 1.8%
Alexandria Real Estate Equities, Inc.
163,131
8,104,348
American Homes 4 Rent, Class A
347,855
11,159,188
American Tower Corp.
497,371
92,988,482
AvalonBay Communities, Inc.
149,956
27,368,470
BXP, Inc.
158,866
9,533,549
Camden Property Trust
109,492
11,667,468
Crown Castle, Inc.
463,669
42,425,713
CubeSmart
239,838
9,593,520
Digital Realty Trust, Inc.
341,927
64,966,130
EastGroup Properties, Inc.
55,964
11,299,691
Equinix, Inc.
104,121
111,205,393
Equity LifeStyle Properties, Inc.
207,736
12,831,853
Equity Residential
362,537
23,728,047
Essex Property Trust, Inc.
67,523
18,409,471
Extra Space Storage, Inc.
224,926
32,459,071
Federal Realty Investment Trust
83,079
9,938,741
Gaming & Leisure Properties, Inc.
300,280
14,104,152
Healthpeak Properties, Inc.
746,117
14,288,141
Host Hotels & Resorts, Inc.
686,429
15,774,138
Invitation Homes, Inc.
592,998
17,345,191
Iron Mountain, Inc.
314,317
40,311,155
SECURITY
NUMBER
OF SHARES
VALUE ($)
Kimco Realty Corp.
720,294
17,344,680
Lamar Advertising Co., Class A
91,442
13,941,247
Lineage, Inc.
60,844
2,702,082
Mid-America Apartment
Communities, Inc.
123,388
15,925,689
NNN REIT, Inc.
201,676
8,976,599
Omega Healthcare Investors, Inc.
311,069
14,545,586
Prologis, Inc.
986,371
141,514,647
Public Storage
167,140
50,758,747
Realty Income Corp.
976,059
59,812,895
Regency Centers Corp.
173,293
13,404,214
Rexford Industrial Realty, Inc.
248,770
8,823,872
SBA Communications Corp.
112,635
22,882,927
Simon Property Group, Inc.
344,276
70,545,595
Sun Communities, Inc.
123,153
15,229,100
UDR, Inc.
319,436
11,787,188
Ventas, Inc.
503,553
42,509,944
VICI Properties, Inc.
1,158,060
32,680,453
Welltower, Inc.
740,124
151,969,661
Weyerhaeuser Co.
760,391
18,637,183
WP Carey, Inc.
229,983
17,115,335
 
1,330,609,556
 
Financial Services 6.7%
Affirm Holdings, Inc., Class A *
312,236
22,996,181
AGNC Investment Corp.
1,185,422
12,340,243
Ally Financial, Inc.
295,600
12,654,636
American Express Co.
568,572
179,935,981
Ameriprise Financial, Inc.
96,589
43,050,683
Annaly Capital Management, Inc.
767,154
16,762,315
Apollo Global Management, Inc.
493,994
63,581,968
ARES Management Corp., Class A
217,725
27,977,662
Bank of New York Mellon Corp.
732,461
102,127,037
Berkshire Hathaway, Inc., Class B *
1,945,157
922,938,093
Blackrock, Inc.
152,968
160,139,140
Blackstone, Inc.
794,088
92,884,473
Block, Inc. *
579,002
43,842,031
Blue Owl Capital, Inc.
673,770
6,926,356
Capital One Financial Corp.
662,433
124,491,034
Carlyle Group, Inc.
273,926
12,444,458
Cboe Global Markets, Inc.
111,033
37,036,167
Charles Schwab Corp. (b)
1,760,246
153,757,488
CME Group, Inc.
381,619
104,388,061
Coinbase Global, Inc., Class A *
235,742
44,562,310
Corebridge Financial, Inc.
271,299
7,325,073
Corpay, Inc. *
73,769
26,689,624
Equitable Holdings, Inc.
302,872
12,523,757
Evercore, Inc., Class A
40,635
13,850,846
FactSet Research Systems, Inc.
39,338
9,656,299
Fidelity National Information
Services, Inc.
547,332
23,529,803
Fiserv, Inc. *
571,902
32,346,777
Franklin Resources, Inc.
322,449
10,002,368
Global Payments, Inc.
254,486
19,216,238
Goldman Sachs Group, Inc.
317,792
325,914,764
Houlihan Lokey, Inc.
58,646
8,307,792
Interactive Brokers Group, Inc.,
Class A
474,038
41,227,085
Intercontinental Exchange, Inc.
603,121
89,171,440
Invesco Ltd.
468,131
13,323,008
Jack Henry & Associates, Inc.
78,491
10,699,893
Jefferies Financial Group, Inc.
172,593
9,099,103
KKR & Co., Inc.
727,996
69,843,936
LPL Financial Holdings, Inc.
84,225
23,058,278
MarketAxess Holdings, Inc.
38,841
5,050,884
Mastercard, Inc., Class A
864,248
426,921,227
Moody's Corp.
163,243
73,989,890
Morgan Stanley
1,275,582
265,321,056
  
33

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Morningstar, Inc.
24,552
4,468,955
MSCI, Inc.
77,870
49,165,561
Nasdaq, Inc.
478,323
44,254,444
Northern Trust Corp.
197,379
32,656,356
PayPal Holdings, Inc.
976,987
43,720,168
Raymond James Financial, Inc.
185,588
26,615,175
Robinhood Markets, Inc., Class A *
838,457
79,066,495
S&P Global, Inc.
324,791
137,711,384
SEI Investments Co.
99,995
8,787,561
SoFi Technologies, Inc. *
1,350,616
24,608,224
Starwood Property Trust, Inc.
361,159
6,168,596
State Street Corp.
295,330
45,965,161
Stifel Financial Corp.
161,011
11,294,922
Synchrony Financial
367,948
26,286,205
T. Rowe Price Group, Inc.
230,735
24,118,730
Toast, Inc., Class A *
511,527
13,315,048
Tradeweb Markets, Inc., Class A
121,598
12,190,199
Visa, Inc., Class A
1,784,010
582,229,504
Voya Financial, Inc.
98,978
8,038,993
 
4,882,567,139
 
Food, Beverage & Tobacco 1.9%
Altria Group, Inc.
1,781,981
123,990,238
Archer-Daniels-Midland Co.
511,699
40,823,346
Brown-Forman Corp., Class B
250,039
6,431,003
Bunge Global SA
143,944
17,748,295
Campbell's Co. (a)
207,480
4,379,903
Celsius Holdings, Inc. *
169,190
5,628,951
Coca-Cola Co.
4,111,939
324,884,300
Coca-Cola Consolidated, Inc.
60,996
10,568,167
Conagra Brands, Inc.
505,790
6,716,891
Constellation Brands, Inc., Class A
148,788
20,654,750
General Mills, Inc.
563,429
19,049,535
Hershey Co.
156,639
30,392,665
Hormel Foods Corp.
312,380
7,256,588
J.M. Smucker Co.
111,941
11,552,311
Keurig Dr. Pepper, Inc.
1,442,446
43,316,653
Kraft Heinz Co.
901,011
21,633,274
Lamb Weston Holdings, Inc.
146,728
6,335,715
McCormick & Co., Inc. - Non Voting
Shares
267,334
12,663,612
Molson Coors Beverage Co., Class B
181,221
7,163,666
Mondelez International, Inc., Class A
1,358,677
83,110,272
Monster Beverage Corp. *
758,980
66,850,959
PepsiCo, Inc.
1,450,138
209,095,398
Philip Morris International, Inc.
1,651,352
292,916,818
Pilgrim's Pride Corp.
50,871
1,440,158
Primo Brands Corp.
267,411
6,631,793
Tyson Foods, Inc., Class A
298,118
18,191,160
 
1,399,426,421
 
Health Care Equipment & Services 2.9%
Abbott Laboratories
1,847,157
158,116,639
Align Technology, Inc. *
71,078
12,435,096
Baxter International, Inc.
542,512
10,188,375
Becton Dickinson & Co.
301,643
44,377,718
Boston Scientific Corp. *
1,574,034
76,041,583
Cardinal Health, Inc.
249,689
49,138,795
Cencora, Inc.
206,344
55,580,820
Centene Corp. *
501,300
29,877,480
Chemed Corp.
14,411
6,144,995
Cigna Group
278,761
77,328,301
Cooper Cos., Inc. *
207,265
12,686,691
CVS Health Corp.
1,350,482
122,866,852
DaVita, Inc. *
36,401
7,074,898
Dexcom, Inc. *
406,558
29,979,587
Edwards Lifesciences Corp. *
617,308
53,378,623
SECURITY
NUMBER
OF SHARES
VALUE ($)
Elevance Health, Inc.
234,212
92,089,816
Encompass Health Corp.
108,400
11,474,140
GE HealthCare Technologies, Inc.
480,704
29,967,087
HCA Healthcare, Inc.
166,462
63,012,526
Henry Schein, Inc. *
107,272
8,214,890
Humana, Inc.
128,695
39,306,027
IDEXX Laboratories, Inc. *
84,207
47,453,171
Insulet Corp. *
74,102
10,740,344
Intuitive Surgical, Inc. *
376,836
160,019,639
Labcorp Holdings, Inc.
87,080
22,646,025
Masimo Corp. *
49,235
8,785,986
McKesson Corp.
129,851
96,406,576
Medline, Inc., Class A *
426,909
15,607,793
Medtronic PLC
1,358,877
100,298,711
Molina Healthcare, Inc. *
54,203
9,409,641
Penumbra, Inc. *
41,807
13,307,168
Quest Diagnostics, Inc.
115,658
22,541,744
ResMed, Inc.
154,398
29,423,627
Solventum Corp. *
156,315
11,715,809
STERIS PLC
104,447
22,219,010
Stryker Corp.
364,918
111,332,833
Tenet Healthcare Corp. *
92,439
16,206,406
UnitedHealth Group, Inc.
961,468
365,655,895
Universal Health Services, Inc.,
Class B
58,676
8,573,150
Veeva Systems, Inc., Class A *
159,467
27,801,477
Zimmer Biomet Holdings, Inc.
210,194
17,305,272
 
2,106,731,216
 
Household & Personal Products 0.8%
Church & Dwight Co., Inc.
250,199
23,926,530
Clorox Co.
129,301
11,639,676
Colgate-Palmolive Co.
854,652
77,029,785
Estee Lauder Cos., Inc., Class A
262,591
23,357,470
Kenvue, Inc.
2,029,162
35,063,919
Kimberly-Clark Corp.
350,624
34,220,902
Procter & Gamble Co.
2,467,027
354,166,396
 
559,404,678
 
Insurance 1.5%
Aflac, Inc.
495,092
55,658,243
Allstate Corp.
276,896
57,065,497
American Financial Group, Inc.
72,009
9,346,768
American International Group, Inc.
569,587
42,280,443
Aon PLC, Class A
227,355
71,857,821
Arch Capital Group Ltd. *
381,060
34,043,900
Arthur J Gallagher & Co.
272,564
54,815,346
Assurant, Inc.
52,640
13,100,517
Brown & Brown, Inc.
308,876
17,374,275
Chubb Ltd.
386,089
120,355,524
Cincinnati Financial Corp.
165,307
26,022,628
CNA Financial Corp.
20,000
841,200
Erie Indemnity Co., Class A
26,316
5,607,150
Everest Group Ltd.
42,219
13,680,223
Fidelity National Financial, Inc.
268,699
12,722,898
Globe Life, Inc.
83,573
12,806,727
Hartford Insurance Group, Inc.
296,865
37,740,447
Kinsale Capital Group, Inc.
23,224
7,077,978
Loews Corp.
178,189
18,451,471
Markel Group, Inc. *
13,283
24,116,482
Marsh & McLennan Cos., Inc.
512,833
82,037,895
MetLife, Inc.
585,345
48,402,178
Old Republic International Corp.
239,849
8,929,578
Principal Financial Group, Inc.
209,262
21,683,728
Progressive Corp.
620,889
118,217,266
Prudential Financial, Inc.
367,295
36,964,569
34
  

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Reinsurance Group of America, Inc.,
Class A
69,349
13,921,118
RenaissanceRe Holdings Ltd.
46,431
13,016,931
Travelers Cos., Inc.
228,800
66,784,432
Unum Group
160,896
13,391,374
W.R. Berkley Corp.
315,756
20,063,136
Willis Towers Watson PLC
101,159
25,256,368
 
1,103,634,111
 
Materials 2.0%
Air Products & Chemicals, Inc.
235,738
65,681,322
Albemarle Corp.
124,312
21,931,123
Alcoa Corp.
275,465
21,387,103
Amcor PLC
487,882
18,939,579
Amrize Ltd. *
543,613
29,567,111
AptarGroup, Inc.
67,340
7,801,339
Avery Dennison Corp.
81,440
12,954,661
Axalta Coating Systems Ltd. *
221,362
6,811,309
Ball Corp.
285,017
15,581,879
CF Industries Holdings, Inc.
167,152
18,779,527
Corteva, Inc.
712,656
55,786,712
CRH PLC
710,304
77,273,972
Crown Holdings, Inc.
120,442
11,451,625
Dow, Inc.
763,814
25,778,723
DuPont de Nemours, Inc.
434,155
21,021,785
Eastman Chemical Co.
120,597
9,149,694
Ecolab, Inc.
270,174
69,164,544
Freeport-McMoRan, Inc.
1,521,497
99,977,568
International Flavors & Fragrances,
Inc.
269,622
20,504,753
International Paper Co.
561,673
18,799,195
Linde PLC
495,628
246,669,099
LyondellBasell Industries NV, Class A
275,775
18,380,404
Martin Marietta Materials, Inc.
64,011
37,231,358
Mosaic Co.
336,273
8,036,925
MP Materials Corp. *
146,337
9,468,004
Newmont Corp.
1,159,502
127,324,915
Nucor Corp.
242,307
60,576,750
Packaging Corp. of America
94,517
20,690,716
PPG Industries, Inc.
236,684
26,740,558
Reliance, Inc.
55,646
21,188,327
Royal Gold, Inc.
85,749
19,248,936
RPM International, Inc.
135,724
14,382,672
Sherwin-Williams Co.
244,090
74,164,306
Smurfit Westrock PLC
551,121
22,678,629
Steel Dynamics, Inc.
146,389
38,083,098
Vulcan Materials Co.
140,002
39,609,366
Westlake Corp.
33,988
2,951,178
 
1,415,768,765
 
Media & Entertainment 9.2%
Alphabet, Inc., Class A
6,172,181
2,347,527,321
Alphabet, Inc., Class C
4,957,285
1,866,070,793
Charter Communications, Inc.,
Class A *
92,795
13,367,120
Electronic Arts, Inc.
239,267
48,264,939
Fox Corp., Class A
349,141
22,317,093
Liberty Broadband Corp., Class C *
146,393
4,942,228
Liberty Media Corp.-Liberty Formula
One, Class C *
260,111
23,615,478
Live Nation Entertainment, Inc. *
167,358
28,184,761
Match Group, Inc.
252,327
9,116,574
Meta Platforms, Inc., Class A
2,319,406
1,467,047,489
Netflix, Inc. *
4,476,849
385,098,551
News Corp., Class A
542,364
14,155,700
Omnicom Group, Inc.
333,096
24,219,410
SECURITY
NUMBER
OF SHARES
VALUE ($)
Paramount Skydance Corp.,
Class B (a)
327,873
3,478,732
Pinterest, Inc., Class A *
627,627
12,583,921
Reddit, Inc., Class A *
137,688
24,233,088
ROBLOX Corp., Class A *
701,684
33,084,401
Roku, Inc. *
139,770
18,195,259
Sirius XM Holdings, Inc.
198,992
5,874,244
Snap, Inc., Class A *
1,181,283
6,745,126
Take-Two Interactive Software, Inc. *
184,106
41,269,201
TKO Group Holdings, Inc.
71,130
14,594,453
Trade Desk, Inc., Class A *
471,435
10,164,139
Walt Disney Co.
1,881,583
191,601,597
Warner Bros Discovery, Inc. *
2,631,917
71,088,078
 
6,686,839,696
 
Pharmaceuticals, Biotechnology & Life Sciences 5.5%
AbbVie, Inc.
1,874,107
408,030,576
Agilent Technologies, Inc.
300,316
40,701,827
Alnylam Pharmaceuticals, Inc. *
140,417
42,403,126
Amgen, Inc.
571,313
192,412,505
Avantor, Inc. *
718,469
6,552,437
Biogen, Inc. *
156,461
30,666,356
BioMarin Pharmaceutical, Inc. *
202,016
11,573,497
Bio-Rad Laboratories, Inc., Class A *
19,432
6,072,111
Bio-Techne Corp.
164,851
8,519,500
Bristol-Myers Squibb Co.
2,161,499
123,594,513
Charles River Laboratories
International, Inc. *
52,203
9,433,604
Danaher Corp.
666,106
121,677,583
Elanco Animal Health, Inc. *
523,710
12,490,484
Eli Lilly & Co.
840,679
928,950,295
Exelixis, Inc. *
275,130
13,888,562
Gilead Sciences, Inc.
1,317,052
177,051,300
Illumina, Inc. *
161,830
26,371,817
Incyte Corp. *
177,304
17,152,389
Insmed, Inc. *
227,179
24,287,707
IQVIA Holdings, Inc. *
179,653
32,734,573
Jazz Pharmaceuticals PLC *
65,013
15,374,924
Johnson & Johnson
2,557,685
576,323,161
Medpace Holdings, Inc. *
23,437
10,478,917
Merck & Co., Inc.
2,633,193
312,612,673
Mettler-Toledo International, Inc. *
21,479
25,357,678
Moderna, Inc. *
371,985
17,553,972
Natera, Inc. *
146,886
32,809,926
Neurocrine Biosciences, Inc. *
106,395
16,842,329
Pfizer, Inc.
6,032,207
157,923,179
Regeneron Pharmaceuticals, Inc.
106,810
65,664,652
Repligen Corp. *
55,506
6,879,969
Revvity, Inc.
120,619
12,610,716
Roivant Sciences Ltd. *
477,817
14,329,732
Royalty Pharma PLC, Class A
400,528
22,333,441
Summit Therapeutics, Inc. *
175,251
3,073,903
Tempus AI, Inc., Class A *
109,985
5,550,943
Thermo Fisher Scientific, Inc.
398,275
196,154,420
United Therapeutics Corp. *
45,185
25,159,912
Vertex Pharmaceuticals, Inc. *
269,087
120,427,196
Viatris, Inc.
1,212,032
19,707,640
Waters Corp. *
104,321
40,014,406
West Pharmaceutical Services, Inc.
75,754
24,454,149
Zoetis, Inc.
447,706
34,782,279
 
3,990,984,879
 
Real Estate Management & Development 0.1%
CBRE Group, Inc., Class A *
309,544
38,705,382
CoStar Group, Inc. *
447,022
14,394,108
  
35

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Jones Lang LaSalle, Inc. *
50,072
14,135,826
Zillow Group, Inc., Class C *
233,647
8,177,645
 
75,412,961
 
Semiconductors & Semiconductor Equipment 17.8%
Advanced Micro Devices, Inc. *
1,729,278
892,480,376
Analog Devices, Inc.
518,593
214,619,713
Applied Materials, Inc.
842,046
378,971,223
Astera Labs, Inc. *
140,347
48,117,969
Broadcom, Inc.
5,029,256
2,246,920,703
Cerebras Systems, Inc., Class A *
31,800
7,536,282
Credo Technology Group Holding
Ltd. *
168,165
39,691,985
Entegris, Inc.
160,381
22,259,279
First Solar, Inc. *
114,026
34,982,036
Intel Corp. *
4,980,940
571,214,199
KLA Corp.
138,936
266,994,701
Lam Research Corp.
1,325,063
421,608,545
Lattice Semiconductor Corp. *
146,758
21,585,167
Marvell Technology, Inc.
923,999
189,419,795
Microchip Technology, Inc.
574,602
54,386,079
Micron Technology, Inc.
1,193,650
1,159,034,150
Monolithic Power Systems, Inc.
51,615
80,839,929
NVIDIA Corp.
25,765,478
5,440,123,025
NXP Semiconductors NV
267,485
85,956,305
ON Semiconductor Corp. *
420,724
50,747,729
Qnity Electronics, Inc.
223,162
34,813,272
Qorvo, Inc. *
90,755
9,398,588
QUALCOMM, Inc.
1,130,883
283,874,251
Skyworks Solutions, Inc.
161,890
12,603,136
Teradyne, Inc.
166,239
62,224,920
Texas Instruments, Inc.
962,969
294,360,364
Universal Display Corp.
47,043
4,333,601
 
12,929,097,322
 
Software & Services 9.8%
Accenture PLC, Class A
653,992
122,342,283
Adobe, Inc. *
436,175
113,060,922
Akamai Technologies, Inc. *
154,139
23,049,946
AppLovin Corp., Class A *
287,330
176,159,150
Atlassian Corp., Class A *
180,853
19,461,591
Autodesk, Inc. *
224,509
51,931,177
Bentley Systems, Inc., Class B
164,484
5,368,758
Cadence Design Systems, Inc. *
288,641
108,220,170
Circle Internet Group, Inc. *
57,137
6,456,481
Cloudflare, Inc., Class A *
335,763
81,194,209
Cognizant Technology Solutions
Corp., Class A
509,976
28,433,712
CoreWeave, Inc., Class A *
255,950
28,034,203
Crowdstrike Holdings, Inc., Class A *
267,633
195,639,723
Datadog, Inc., Class A *
348,214
86,130,733
Docusign, Inc. *
209,263
10,990,493
Dynatrace, Inc. *
316,146
13,464,658
Elastic NV *
98,661
6,383,367
EPAM Systems, Inc. *
60,167
6,164,711
Fair Isaac Corp. *
25,076
31,359,795
Fortinet, Inc. *
672,270
92,753,092
Gartner, Inc. *
73,404
11,906,129
Gen Digital, Inc.
583,498
15,048,413
GoDaddy, Inc., Class A *
143,518
12,318,150
Guidewire Software, Inc. *
89,490
13,662,438
HubSpot, Inc. *
56,757
12,522,297
International Business Machines
Corp.
992,244
295,490,263
Intuit, Inc.
294,938
97,780,795
Manhattan Associates, Inc. *
62,834
9,428,242
Microsoft Corp.
7,871,717
3,544,161,862
SECURITY
NUMBER
OF SHARES
VALUE ($)
MongoDB, Inc. *
86,007
28,859,649
Nutanix, Inc., Class A *
287,233
14,956,222
Okta, Inc. *
180,611
22,263,918
Oracle Corp.
1,799,922
406,386,389
Palantir Technologies, Inc., Class A *
2,423,300
379,343,382
Palo Alto Networks, Inc. *
858,541
241,842,414
Procore Technologies, Inc. *
125,728
6,222,279
PTC, Inc. *
125,568
17,420,049
Roper Technologies, Inc.
112,847
36,735,084
Rubrik, Inc., Class A *
160,960
12,656,285
SailPoint, Inc. *
79,761
1,501,900
Salesforce, Inc.
994,923
190,129,785
ServiceNow, Inc. *
1,109,384
137,974,088
Snowflake, Inc., Class A *
362,663
92,678,530
Strategy, Inc., Class A *
333,410
53,042,197
Synopsys, Inc. *
202,832
96,470,956
Trimble, Inc. *
254,125
14,335,191
Twilio, Inc., Class A *
161,318
30,753,664
Tyler Technologies, Inc. *
44,939
14,072,648
Unity Software, Inc. *
375,550
11,443,008
VeriSign, Inc.
88,087
25,138,268
Workday, Inc., Class A *
225,439
32,956,927
Zoom Communications, Inc.,
Class A *
280,641
28,510,319
Zscaler, Inc. *
108,025
15,094,333
 
7,129,705,248
 
Technology Hardware & Equipment 10.0%
Amphenol Corp., Class A
1,305,306
194,177,321
Apple, Inc.
15,565,250
4,857,291,915
Arista Networks, Inc. *
1,095,387
174,681,365
Arrow Electronics, Inc. *
54,805
11,762,797
CDW Corp.
139,303
17,475,561
Ciena Corp. *
149,686
86,852,308
Cisco Systems, Inc.
4,191,597
504,752,111
Cognex Corp.
179,130
11,795,711
Coherent Corp. *
198,792
71,857,344
Corning, Inc.
829,114
150,202,292
Dell Technologies, Inc., Class C
316,239
133,108,157
Everpure, Inc., Class A *
333,395
26,508,236
F5, Inc. *
60,636
23,250,874
Fabrinet *
37,863
24,768,460
Flex Ltd. *
391,344
59,006,848
Hewlett Packard Enterprise Co.
1,411,953
60,770,457
HP, Inc.
971,534
26,270,279
IonQ, Inc. *(a)
379,963
27,383,933
Jabil, Inc.
111,714
40,726,456
Keysight Technologies, Inc. *
182,084
61,604,480
Motorola Solutions, Inc.
175,784
70,890,172
NetApp, Inc.
210,157
36,628,264
Seagate Technology Holdings PLC
231,379
203,567,244
Super Micro Computer, Inc. *
542,695
25,012,813
TD SYNNEX Corp.
80,504
21,034,085
TE Connectivity PLC
311,191
66,411,271
Teledyne Technologies, Inc. *
49,659
30,780,138
Ubiquiti, Inc.
4,714
2,752,316
Western Digital Corp.
359,332
190,880,752
Zebra Technologies Corp., Class A *
51,747
12,607,122
 
7,224,811,082
 
Telecommunication Services 0.8%
AST SpaceMobile, Inc. *
263,836
29,921,641
AT&T, Inc.
7,424,166
184,119,317
Comcast Corp., Class A
3,805,849
94,651,465
36
  

Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
T-Mobile U.S., Inc.
502,029
94,145,498
Verizon Communications, Inc.
4,470,325
213,726,238
 
616,564,159
 
Transportation 1.3%
American Airlines Group, Inc. *
693,695
10,155,695
CH Robinson Worldwide, Inc.
125,401
22,402,889
CSX Corp.
1,975,978
89,432,764
Delta Air Lines, Inc.
690,851
56,981,390
Expeditors International of
Washington, Inc.
143,171
22,619,586
FedEx Corp.
229,784
94,613,562
JB Hunt Transport Services, Inc.
79,290
21,918,135
Joby Aviation, Inc. *
643,316
7,655,460
Knight-Swift Transportation
Holdings, Inc.
170,538
12,897,789
Norfolk Southern Corp.
238,496
72,731,740
Old Dominion Freight Line, Inc.
195,505
44,017,951
Saia, Inc. *
28,399
13,414,836
Southwest Airlines Co.
520,556
22,357,880
Uber Technologies, Inc. *
2,187,420
153,994,368
U-Haul Holding Co., Non Voting
Shares
118,743
6,177,011
Union Pacific Corp.
628,748
165,134,375
United Airlines Holdings, Inc. *
342,449
39,313,145
United Parcel Service, Inc., Class B
785,097
83,761,999
XPO, Inc. *
123,654
26,492,870
 
966,073,445
 
Utilities 2.1%
AES Corp.
752,071
11,032,882
Alliant Energy Corp.
274,839
19,681,221
Ameren Corp.
291,322
31,454,036
American Electric Power Co., Inc.
572,827
72,559,996
American Water Works Co., Inc.
206,971
25,513,315
Atmos Energy Corp.
176,381
29,831,319
CenterPoint Energy, Inc.
696,741
29,444,275
CMS Energy Corp.
323,689
23,490,111
Consolidated Edison, Inc.
382,243
40,376,328
Constellation Energy Corp.
330,334
95,053,608
Dominion Energy, Inc.
905,486
60,613,233
DTE Energy Co.
219,340
31,337,106
Duke Energy Corp.
824,873
101,236,663
Edison International
409,242
28,622,385
Entergy Corp.
478,751
52,207,797
Essential Utilities, Inc.
303,130
11,182,466
Evergy, Inc.
244,451
20,054,760
Eversource Energy
397,488
27,136,506
Exelon Corp.
1,084,836
49,511,915
Fervo Energy Co., Class A *(a)
73,096
2,679,699
FirstEnergy Corp.
548,903
25,463,610
NextEra Energy, Inc.
2,208,112
192,127,825
NiSource, Inc.
507,299
23,447,360
SECURITY
NUMBER
OF SHARES
VALUE ($)
NRG Energy, Inc.
226,814
30,411,221
OGE Energy Corp.
219,014
10,344,031
Oklo, Inc. *
129,453
8,657,817
PG&E Corp.
2,344,676
38,312,006
Pinnacle West Capital Corp.
125,698
12,537,119
PPL Corp.
785,904
27,813,143
Public Service Enterprise Group, Inc.
528,136
41,537,896
Sempra
692,707
61,740,975
Southern Co.
1,168,122
107,525,630
Talen Energy Corp. *
47,698
18,449,586
Vistra Corp.
336,897
53,981,006
WEC Energy Group, Inc.
345,375
38,353,894
Xcel Energy, Inc.
626,919
49,840,060
 
1,503,562,800
Total Common Stocks
(Cost $36,808,854,689)
72,442,494,802
 
 
 
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)
59,471,383
59,471,383
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)(d)
42,325,375
42,325,375
 
101,796,758
Total Short-Term Investments
(Cost $101,796,758)
101,796,758
Total Investments in Securities
(Cost $36,910,651,447)
72,544,291,560
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
S&P 500 Index, e-mini,
expires 06/18/26
318
120,772,425
6,071,241
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Issuer is affiliated with the fund’s investment adviser.
(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 $41,564,333.
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers during the period ended May 31, 2026:
SECURITY
VALUE AT
8/31/25
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
 
Financial Services 0.2%
Charles Schwab Corp. (a)
$164,560,539
$11,950,045
($8,027,178
)
$1,424,146
($16,150,064
)
$153,757,488
1,760,246
$1,563,900
(a)
Issuer is affiliated with the fund’s investment adviser.

  
37

Schwab U.S. Large-Cap 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
$72,442,494,802
$
$
$72,442,494,802
Short-Term Investments 1
101,796,758
101,796,758
Futures Contracts 2
6,071,241
6,071,241
Total
$72,550,362,801
$—
$—
$72,550,362,801
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
38
  

Schwab Strategic Trust
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 3.9%
Tesla, Inc. *
5,487,863
2,391,555,817
 
Banks 0.1%
First Citizens BancShares, Inc.,
Class A
20,854
41,510,095
 
Capital Goods 5.8%
Advanced Drainage Systems, Inc.
152,109
21,167,488
Axon Enterprise, Inc. *
166,702
74,802,522
Builders FirstSource, Inc. *
234,432
17,877,784
Carlisle Cos., Inc.
86,105
29,689,865
Carpenter Technology Corp.
106,019
49,720,791
Comfort Systems USA, Inc.
75,300
137,664,213
Core & Main, Inc., Class A *
401,325
19,845,521
Curtiss-Wright Corp.
78,282
58,524,406
EMCOR Group, Inc.
95,998
79,373,066
FTAI Aviation Ltd.
219,131
57,048,565
GE Vernova, Inc.
575,117
556,897,294
Generac Holdings, Inc. *
124,319
34,549,493
General Electric Co.
2,236,379
724,050,065
HEICO Corp.
213,806
74,442,973
Lennox International, Inc.
68,924
34,610,876
MasTec, Inc. *
129,354
48,943,673
Parker-Hannifin Corp.
269,873
227,942,832
Quanta Services, Inc.
318,562
226,730,132
RBC Bearings, Inc. *
65,924
37,705,891
Rocket Lab Corp. *
1,006,223
144,372,876
Trane Technologies PLC
473,874
213,859,336
TransDigm Group, Inc.
119,612
150,510,172
United Rentals, Inc.
134,552
133,969,390
Vertiv Holdings Co., Class A
814,806
257,242,402
WW Grainger, Inc.
93,947
115,953,145
 
3,527,494,771
 
Commercial & Professional Services 0.2%
CACI International, Inc., Class A *
46,446
23,850,485
Clean Harbors, Inc. *
107,347
30,167,727
Equifax, Inc.
255,900
42,425,661
Paycom Software, Inc.
102,271
14,284,191
Paylocity Holding Corp. *
91,945
10,567,239
 
121,295,303
 
Consumer Discretionary Distribution & Retail 6.5%
Amazon.com, Inc. *
12,813,815
3,467,930,892
AutoZone, Inc. *
35,293
103,591,661
Carvana Co. *
1,511,267
110,322,491
Coupang, Inc. *
2,879,127
47,793,508
O'Reilly Automotive, Inc. *
1,792,808
155,759,159
Pool Corp.
70,833
12,849,106
Ulta Beauty, Inc. *
95,312
48,499,511
 
3,946,746,328
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Consumer Durables & Apparel 0.2%
Deckers Outdoor Corp. *
304,325
34,647,401
Lululemon Athletica, Inc. *
226,857
29,759,101
NVR, Inc. *
5,709
34,852,303
TopBuild Corp. *
58,411
24,385,425
 
123,644,230
 
Consumer Services 1.8%
Airbnb, Inc., Class A *
909,700
121,272,107
Booking Holdings, Inc.
1,723,804
288,616,504
Carnival Corp. Ltd.
2,739,237
76,862,990
Cava Group, Inc. *
216,623
16,822,942
Churchill Downs, Inc.
143,545
12,518,560
Domino's Pizza, Inc.
66,811
20,750,160
DoorDash, Inc., Class A *
795,048
126,643,196
DraftKings, Inc., Class A *
1,072,557
26,266,921
Duolingo, Inc. *
84,500
9,409,920
Flutter Entertainment PLC *
373,530
36,224,939
Hilton Worldwide Holdings, Inc.
493,911
161,834,878
Marriott International, Inc., Class A
468,119
175,825,496
Texas Roadhouse, Inc.
141,991
25,646,415
Wingstop, Inc.
60,160
9,442,714
 
1,108,137,742
 
Consumer Staples Distribution & Retail 1.6%
Casey's General Stores, Inc.
79,859
61,263,033
Costco Wholesale Corp.
947,798
906,398,184
Performance Food Group Co. *
333,469
32,743,321
 
1,000,404,538
 
Energy 0.7%
Baker Hughes Co.
2,107,191
134,607,361
Phillips 66
860,615
151,364,966
Targa Resources Corp.
458,974
117,070,498
Texas Pacific Land Corp.
123,476
48,526,068
 
451,568,893
 
Equity Real Estate Investment Trusts (REITs) 0.5%
Equinix, Inc.
210,120
224,416,565
SBA Communications Corp.
226,853
46,087,456
Sun Communities, Inc.
243,905
30,161,292
 
300,665,313
 
Financial Services 6.2%
Affirm Holdings, Inc., Class A *
621,695
45,787,837
Apollo Global Management, Inc.
988,401
127,217,093
Blackrock, Inc.
306,107
320,457,296
Block, Inc. *
1,165,987
88,288,536
Coinbase Global, Inc., Class A *
474,047
89,609,104
FactSet Research Systems, Inc.
78,761
19,333,463
Interactive Brokers Group, Inc.,
Class A
948,418
82,483,913
KKR & Co., Inc.
1,462,844
140,345,253
LPL Financial Holdings, Inc.
169,078
46,288,484
Mastercard, Inc., Class A
1,737,753
858,415,227
  
39

Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Moody's Corp.
326,066
147,789,415
MSCI, Inc.
157,885
99,685,431
Robinhood Markets, Inc., Class A *
1,683,143
158,720,385
S&P Global, Inc.
650,961
276,007,464
SoFi Technologies, Inc. *
2,706,140
49,305,871
Toast, Inc., Class A *
1,014,105
26,397,153
Tradeweb Markets, Inc., Class A
249,143
24,976,586
Visa, Inc., Class A
3,588,795
1,171,239,136
 
3,772,347,647
 
Food, Beverage & Tobacco 0.1%
Celsius Holdings, Inc. *
343,632
11,432,637
Constellation Brands, Inc., Class A
295,914
41,078,781
 
52,511,418
 
Health Care Equipment & Services 2.7%
Chemed Corp.
27,997
11,938,201
Dexcom, Inc. *
822,028
60,616,345
Humana, Inc.
257,067
78,513,403
IDEXX Laboratories, Inc. *
168,938
95,201,631
Insulet Corp. *
150,862
21,865,938
Intuitive Surgical, Inc. *
758,918
322,266,939
McKesson Corp.
261,422
194,090,150
Penumbra, Inc. *
83,559
26,596,830
ResMed, Inc.
307,588
58,617,045
UnitedHealth Group, Inc.
1,930,110
734,040,134
Veeva Systems, Inc., Class A *
323,291
56,362,553
 
1,660,109,169
 
Insurance 0.5%
Kinsale Capital Group, Inc.
46,572
14,193,748
Markel Group, Inc. *
26,911
48,859,343
Progressive Corp.
1,247,515
237,526,856
 
300,579,947
 
Materials 1.3%
Linde PLC
998,936
497,160,458
Martin Marietta Materials, Inc.
127,625
74,231,805
Sherwin-Williams Co.
491,108
149,218,255
Vulcan Materials Co.
281,870
79,746,660
 
800,357,178
 
Media & Entertainment 14.4%
Alphabet, Inc., Class A
7,638,709
2,905,306,581
Alphabet, Inc., Class C
6,135,097
2,309,434,564
Liberty Broadband Corp., Class C *
287,643
9,710,827
Liberty Media Corp.-Liberty Formula
One, Class C *
523,830
47,558,526
Live Nation Entertainment, Inc. *
336,059
56,595,696
Meta Platforms, Inc., Class A
3,339,328
2,112,158,353
Netflix, Inc. *
9,000,687
774,239,096
Pinterest, Inc., Class A *
1,248,941
25,041,267
Reddit, Inc., Class A *
274,908
48,383,808
Take-Two Interactive Software, Inc. *
370,388
83,026,174
TKO Group Holdings, Inc.
143,866
29,518,426
Trade Desk, Inc., Class A *
940,727
20,282,074
Walt Disney Co.
3,789,800
385,915,334
 
8,807,170,726
 
Pharmaceuticals, Biotechnology & Life Sciences 5.7%
Alnylam Pharmaceuticals, Inc. *
282,681
85,364,008
Danaher Corp.
1,340,551
244,878,451
Eli Lilly & Co.
1,690,312
1,867,794,760
SECURITY
NUMBER
OF SHARES
VALUE ($)
Insmed, Inc. *
455,193
48,664,684
IQVIA Holdings, Inc. *
361,374
65,845,957
Medpace Holdings, Inc. *
47,564
21,266,340
Mettler-Toledo International, Inc. *
42,883
50,626,812
Moderna, Inc. *
743,538
35,087,558
Natera, Inc. *
295,667
66,043,138
Neurocrine Biosciences, Inc. *
212,433
33,628,144
Regeneron Pharmaceuticals, Inc.
215,486
132,476,483
Repligen Corp. *
114,391
14,178,765
Roivant Sciences Ltd. *
967,481
29,014,755
Tempus AI, Inc., Class A *
222,375
11,223,266
Thermo Fisher Scientific, Inc.
802,455
395,217,112
Vertex Pharmaceuticals, Inc. *
542,538
242,807,457
Waters Corp. *
209,502
80,358,682
West Pharmaceutical Services, Inc.
153,120
49,428,667
 
3,473,905,039
 
Semiconductors & Semiconductor Equipment 19.9%
Advanced Micro Devices, Inc. *
3,476,106
1,794,018,307
Astera Labs, Inc. *
282,712
96,927,809
Broadcom, Inc.
6,226,390
2,781,764,261
Credo Technology Group Holding
Ltd. *
339,073
80,031,400
KLA Corp.
280,245
538,549,619
Monolithic Power Systems, Inc.
104,505
163,676,776
NVIDIA Corp.
31,888,365
6,732,909,386
Universal Display Corp.
93,868
8,647,120
 
12,196,524,678
 
Software & Services 15.5%
Adobe, Inc. *
875,044
226,820,155
AppLovin Corp., Class A *
577,141
353,839,376
Atlassian Corp., Class A *
360,717
38,816,756
Autodesk, Inc. *
449,948
104,077,472
Cadence Design Systems, Inc. *
582,110
218,250,502
Circle Internet Group, Inc. *
117,670
13,296,710
Cloudflare, Inc., Class A *
677,624
163,863,036
Crowdstrike Holdings, Inc., Class A *
538,088
393,342,328
Datadog, Inc., Class A *
702,155
173,678,039
Docusign, Inc. *
435,929
22,894,991
Dynatrace, Inc. *
639,961
27,255,939
Elastic NV *
203,177
13,145,552
Fair Isaac Corp. *
50,639
63,328,627
Fortinet, Inc. *
1,346,470
185,772,466
GoDaddy, Inc., Class A *
291,711
25,037,555
HubSpot, Inc. *
113,765
25,099,972
Intuit, Inc.
594,149
196,978,218
Microsoft Corp.
9,741,336
4,385,939,121
MongoDB, Inc. *
174,204
58,454,152
Okta, Inc. *
363,234
44,775,855
Palantir Technologies, Inc., Class A *
4,873,803
762,945,122
Palo Alto Networks, Inc. *
1,723,414
485,468,490
Procore Technologies, Inc. *
264,302
13,080,306
PTC, Inc. *
253,137
35,117,696
Roper Technologies, Inc.
226,284
73,662,231
Rubrik, Inc., Class A *
333,240
26,202,661
Salesforce, Inc.
1,996,200
381,473,820
ServiceNow, Inc. *
2,234,051
277,848,923
Snowflake, Inc., Class A *
731,646
186,972,135
Strategy, Inc., Class A *
670,443
106,660,777
Synopsys, Inc. *
408,433
194,258,903
Tyler Technologies, Inc. *
90,582
28,365,753
Workday, Inc., Class A *
458,130
66,974,025
40
  

Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Zoom Communications, Inc.,
Class A *
565,443
57,443,354
Zscaler, Inc. *
221,098
30,894,024
 
9,462,035,042
 
Technology Hardware & Equipment 11.0%
Apple, Inc.
19,263,819
6,011,467,357
Arista Networks, Inc. *
2,202,842
351,287,214
Coherent Corp. *
399,955
144,571,734
Super Micro Computer, Inc. *
1,084,363
49,978,291
TE Connectivity PLC
629,200
134,277,572
Teledyne Technologies, Inc. *
99,997
61,981,140
 
6,753,563,308
 
Telecommunication Services 0.3%
T-Mobile U.S., Inc.
1,010,352
189,471,311
 
Transportation 0.6%
American Airlines Group, Inc. *
1,406,470
20,590,721
Saia, Inc. *
55,579
26,253,852
Uber Technologies, Inc. *
4,398,331
309,642,502
 
356,487,075
 
Utilities 0.4%
Constellation Energy Corp.
664,950
191,339,363
Fervo Energy Co., Class A *(a)
113,070
4,145,146
Oklo, Inc. *
262,351
17,546,035
Talen Energy Corp. *
96,604
37,366,427
 
250,396,971
Total Common Stocks
(Cost $36,045,865,087)
61,088,482,539
 
 
 
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS
 
Money Market Funds 0.1%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (b)
28,896,025
28,896,025
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (b)(c)
3,195,550
3,195,550
 
32,091,575
Total Short-Term Investments
(Cost $32,091,575)
32,091,575
Total Investments in Securities
(Cost $36,077,956,662)
61,120,574,114
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
NASDAQ 100 Index, e-mini,
expires 06/18/26
79
48,040,295
3,677,636
S&P 500 Index, e-mini, expires
06/18/26
8
3,038,300
116,235
 
3,793,871
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
The rate shown is the annualized 7-day yield.
(c)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $2,965,794.

  
41

Schwab U.S. Large-Cap Growth 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 Stocks1
$61,088,482,539
$
$
$61,088,482,539
Short-Term Investments1
32,091,575
32,091,575
Futures Contracts2
3,793,871
3,793,871
Total
$61,124,367,985
$—
$—
$61,124,367,985
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
42
  

Schwab Strategic Trust
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 0.7%
Aptiv PLC *
107,449
7,300,085
Autoliv, Inc.
34,768
4,419,708
BorgWarner, Inc.
104,520
7,506,626
Ford Motor Co.
1,970,050
34,357,672
General Motors Co.
455,601
37,924,227
Rivian Automotive, Inc., Class A *
411,501
6,707,466
Versigent PLC *
36,114
1,593,350
 
99,809,134
 
Banks 6.8%
Bank of America Corp.
3,341,531
172,423,000
BOK Financial Corp.
10,575
1,354,023
Citigroup, Inc.
880,015
110,793,889
Citizens Financial Group, Inc.
214,222
13,337,462
Commerce Bancshares, Inc.
69,115
3,609,185
Cullen/Frost Bankers, Inc.
31,695
4,295,306
East West Bancorp, Inc.
69,270
8,488,346
Fifth Third Bancorp
452,439
22,590,279
First Horizon Corp.
243,376
5,897,000
Huntington Bancshares, Inc.
1,022,977
16,735,904
JPMorgan Chase & Co.
1,357,805
406,404,615
KeyCorp
472,352
10,075,268
M&T Bank Corp.
76,273
16,483,358
PNC Financial Services Group, Inc.
203,445
44,985,758
Regions Financial Corp.
437,450
12,248,600
Truist Financial Corp.
635,214
30,623,667
U.S. Bancorp
782,953
42,944,972
Webster Financial Corp.
80,996
5,890,029
Wells Fargo & Co.
1,557,395
120,760,408
Western Alliance Bancorp
51,840
4,129,056
Zions Bancorp NA
74,789
4,670,573
 
1,058,740,698
 
Capital Goods 10.1%
3M Co.
265,045
40,586,341
A.O. Smith Corp.
56,040
3,178,589
Acuity, Inc.
15,503
4,730,120
AECOM
65,181
4,521,606
AeroVironment, Inc. *
15,966
3,308,794
AGCO Corp.
30,395
3,412,751
Allegion PLC
43,604
5,671,572
AMETEK, Inc.
115,950
26,187,307
API Group Corp. *
193,718
7,942,438
Bloom Energy Corp., Class A *
129,943
37,033,755
Boeing Co. *
395,459
91,410,348
BWX Technologies, Inc.
46,246
9,058,666
Carrier Global Corp.
395,803
25,279,938
Caterpillar, Inc.
234,332
205,244,369
CNH Industrial NV
445,009
4,543,542
Crane Co.
24,947
4,565,301
Cummins, Inc.
69,575
44,989,282
Deere & Co.
127,023
68,869,330
Donaldson Co., Inc.
58,343
4,776,541
Dover Corp.
67,775
14,324,924
Eaton Corp. PLC
195,600
78,357,360
SECURITY
NUMBER
OF SHARES
VALUE ($)
Emerson Electric Co.
283,332
40,748,808
Fastenal Co.
577,850
25,540,970
Ferguson Enterprises, Inc.
98,423
22,240,645
Fortive Corp.
157,943
9,211,236
Fortune Brands Innovations, Inc.
60,104
2,340,450
General Dynamics Corp.
127,916
44,363,827
Graco, Inc.
83,735
6,317,806
Honeywell International, Inc.
319,761
76,058,351
Howmet Aerospace, Inc.
201,962
52,156,686
Hubbell, Inc.
26,918
12,748,634
Huntington Ingalls Industries, Inc.
19,833
6,111,936
IDEX Corp.
37,676
7,943,231
Illinois Tool Works, Inc.
131,982
32,636,509
Ingersoll Rand, Inc.
179,506
12,859,810
ITT, Inc.
43,328
8,448,960
Johnson Controls International PLC
308,274
41,327,212
Kratos Defense & Security Solutions,
Inc. *
92,780
5,949,981
L3Harris Technologies, Inc.
93,986
29,622,507
Leonardo DRS, Inc.
38,656
1,884,867
Lincoln Electric Holdings, Inc.
27,748
7,172,581
Lockheed Martin Corp.
101,909
54,057,629
Masco Corp.
102,663
7,212,076
Middleby Corp. *
23,390
3,625,684
Nordson Corp.
26,711
7,674,872
Northrop Grumman Corp.
67,155
37,853,930
nVent Electric PLC
81,426
13,597,328
Otis Worldwide Corp.
196,000
13,884,640
Owens Corning
41,315
5,198,253
PACCAR, Inc.
264,465
29,189,002
Pentair PLC
82,214
5,824,040
QXO, Inc. *(a)
257,672
4,444,842
Regal Rexnord Corp.
33,362
6,731,117
Rockwell Automation, Inc.
56,619
25,538,566
RTX Corp.
675,954
121,441,896
Snap-on, Inc.
26,260
9,747,975
StandardAero, Inc. *
94,173
2,697,115
Stanley Black & Decker, Inc.
77,696
6,170,616
Textron, Inc.
87,377
8,017,713
Toro Co.
49,442
4,443,847
Trex Co., Inc. *
53,739
2,224,795
Watsco, Inc.
17,750
6,516,025
WESCO International, Inc.
24,478
8,840,719
Westinghouse Air Brake
Technologies Corp.
85,966
22,450,881
Woodward, Inc.
30,127
10,545,354
Xylem, Inc.
122,577
13,427,085
 
1,565,033,881
 
Commercial & Professional Services 1.7%
Automatic Data Processing, Inc.
202,785
44,985,824
Booz Allen Hamilton Holding Corp.,
Class A
60,929
4,824,358
Broadridge Financial Solutions, Inc.
58,745
9,030,281
Cintas Corp.
171,191
29,318,171
Copart, Inc. *
449,237
14,721,497
Genpact Ltd.
79,364
2,615,044
Jacobs Solutions, Inc.
58,850
7,053,761
KBR, Inc.
64,598
2,257,700
Leidos Holdings, Inc.
64,389
8,228,914
  
43

Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Parsons Corp. *
26,817
1,584,885
Paychex, Inc.
163,071
15,814,626
RB Global, Inc.
93,725
9,967,654
Republic Services, Inc.
101,368
20,318,202
Rollins, Inc.
147,986
7,044,134
SS&C Technologies Holdings, Inc.
105,145
7,099,390
Tetra Tech, Inc.
131,512
3,615,265
TransUnion
96,540
6,908,402
Veralto Corp.
125,344
10,307,037
Verisk Analytics, Inc.
70,067
12,261,024
Waste Management, Inc.
186,916
39,525,257
 
257,481,426
 
Consumer Discretionary Distribution & Retail 2.9%
Bath & Body Works, Inc.
102,199
2,046,024
Best Buy Co., Inc.
98,417
7,671,605
Burlington Stores, Inc. *
31,253
10,120,659
CarMax, Inc. *
71,815
3,204,385
Dick's Sporting Goods, Inc.
33,536
7,631,788
eBay, Inc.
227,718
24,882,746
Etsy, Inc. *
49,651
3,372,296
Floor & Decor Holdings, Inc.,
Class A *
53,924
2,771,694
GameStop Corp., Class A *
205,969
4,362,423
Genuine Parts Co.
70,183
6,927,062
Home Depot, Inc.
501,333
158,992,748
Lithia Motors, Inc.
12,232
3,558,166
LKQ Corp.
128,843
3,494,222
Lowe's Cos., Inc.
282,638
60,586,282
Murphy USA, Inc.
8,690
4,397,401
Penske Automotive Group, Inc.
9,257
1,549,344
Ross Stores, Inc.
162,922
37,753,915
TJX Cos., Inc.
559,240
86,542,390
Tractor Supply Co.
265,365
8,366,958
Williams-Sonoma, Inc.
60,031
12,220,511
 
450,452,619
 
Consumer Durables & Apparel 0.9%
DR Horton, Inc.
135,472
19,926,576
Garmin Ltd.
82,441
19,284,599
Hasbro, Inc.
67,505
5,816,906
Lennar Corp., Class A
112,937
10,139,484
Mohawk Industries, Inc. *
26,283
2,823,320
NIKE, Inc., Class B
599,864
27,731,713
PulteGroup, Inc.
97,049
11,469,251
Ralph Lauren Corp.
19,381
7,052,746
SharkNinja, Inc. *
35,281
4,300,401
Somnigroup International, Inc.
105,847
7,495,026
Tapestry, Inc.
101,847
14,814,664
Toll Brothers, Inc.
47,839
6,627,615
 
137,482,301
 
Consumer Services 1.9%
ADT, Inc.
293,539
1,969,647
Aramark
131,557
7,022,513
Chipotle Mexican Grill, Inc. *
656,038
20,901,371
Darden Restaurants, Inc.
58,130
11,853,288
Expedia Group, Inc.
59,068
13,336,964
Las Vegas Sands Corp.
152,540
7,713,948
McDonald's Corp.
358,539
100,104,089
MGM Resorts International *
96,866
4,230,138
Norwegian Cruise Line Holdings
Ltd. *
229,366
4,206,572
Royal Caribbean Cruises Ltd.
126,843
36,103,323
Service Corp. International
70,117
5,272,097
Starbucks Corp.
573,758
56,893,843
SECURITY
NUMBER
OF SHARES
VALUE ($)
Wyndham Hotels & Resorts, Inc.
38,217
3,067,296
Wynn Resorts Ltd.
42,351
4,286,768
Yum! Brands, Inc.
139,862
20,692,583
 
297,654,440
 
Consumer Staples Distribution & Retail 2.4%
Albertsons Cos., Inc., Class A
186,826
2,916,354
BJ's Wholesale Club Holdings, Inc. *
66,061
5,633,682
Dollar General Corp.
110,688
12,243,200
Dollar Tree, Inc. *
93,208
10,853,139
Kroger Co.
293,484
18,240,031
Maplebear, Inc. *
92,441
3,679,152
Sprouts Farmers Market, Inc. *
48,954
4,044,579
Sysco Corp.
241,616
18,316,909
Target Corp.
228,082
28,982,380
U.S. Foods Holding Corp. *
110,934
9,079,948
Walmart, Inc.
2,207,532
255,521,829
 
369,511,203
 
Energy 6.4%
Antero Resources Corp. *
147,063
5,257,502
APA Corp.
179,272
6,530,879
Cheniere Energy, Inc.
108,574
24,413,950
Chevron Corp.
944,001
172,242,423
ConocoPhillips
616,768
70,299,217
Devon Energy Corp.
579,787
25,794,724
Diamondback Energy, Inc.
97,617
18,691,703
DT Midstream, Inc.
51,224
7,170,336
EOG Resources, Inc.
273,500
36,479,430
EQT Corp.
314,110
17,254,062
Expand Energy Corp.
119,937
11,151,742
Exxon Mobil Corp.
2,104,494
305,698,799
Halliburton Co.
422,332
16,407,598
HF Sinclair Corp.
78,252
5,469,032
Kinder Morgan, Inc.
986,952
30,674,468
Marathon Petroleum Corp.
148,625
36,973,441
Occidental Petroleum Corp.
362,602
20,534,151
ONEOK, Inc.
316,594
26,574,900
Ovintiv, Inc.
139,344
7,808,838
Permian Resources Corp., Class A
372,818
7,169,290
Range Resources Corp.
119,280
4,645,956
SLB Ltd.
753,046
41,078,659
TechnipFMC PLC
203,684
13,936,059
Valero Energy Corp.
153,607
37,606,066
Williams Cos., Inc.
615,014
43,905,850
 
993,769,075
 
Equity Real Estate Investment Trusts (REITs) 3.6%
Alexandria Real Estate Equities, Inc.
79,456
3,947,374
American Homes 4 Rent, Class A
165,337
5,304,011
American Tower Corp.
235,549
44,038,241
AvalonBay Communities, Inc.
71,369
13,025,556
BXP, Inc.
74,646
4,479,506
Camden Property Trust
51,832
5,523,218
Crown Castle, Inc.
219,646
20,097,609
CubeSmart
113,981
4,559,240
Digital Realty Trust, Inc.
162,696
30,912,240
EastGroup Properties, Inc.
27,137
5,479,232
Equity LifeStyle Properties, Inc.
97,084
5,996,879
Equity Residential
172,808
11,310,284
Essex Property Trust, Inc.
32,579
8,882,339
Extra Space Storage, Inc.
106,982
15,438,572
Federal Realty Investment Trust
39,253
4,695,836
Gaming & Leisure Properties, Inc.
141,676
6,654,522
Healthpeak Properties, Inc.
351,529
6,731,780
Host Hotels & Resorts, Inc.
323,574
7,435,731
44
  

Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Invitation Homes, Inc.
285,143
8,340,433
Iron Mountain, Inc.
149,068
19,117,971
Kimco Realty Corp.
338,484
8,150,695
Lamar Advertising Co., Class A
44,027
6,712,356
Lineage, Inc.
28,645
1,272,124
Mid-America Apartment
Communities, Inc.
59,059
7,622,745
NNN REIT, Inc.
96,170
4,280,527
Omega Healthcare Investors, Inc.
149,230
6,977,995
Prologis, Inc.
468,258
67,180,975
Public Storage
79,485
24,138,800
Realty Income Corp.
462,670
28,352,418
Regency Centers Corp.
82,918
6,413,707
Rexford Industrial Realty, Inc.
116,617
4,136,405
Simon Property Group, Inc.
163,621
33,527,579
UDR, Inc.
150,818
5,565,184
Ventas, Inc.
239,518
20,220,110
VICI Properties, Inc.
549,611
15,510,022
Welltower, Inc.
351,441
72,161,381
Weyerhaeuser Co.
363,834
8,917,571
WP Carey, Inc.
110,794
8,245,289
 
561,356,457
 
Financial Services 9.2%
AGNC Investment Corp.
559,514
5,824,541
Ally Financial, Inc.
141,773
6,069,302
American Express Co.
269,811
85,387,087
Ameriprise Financial, Inc.
46,109
20,551,242
Annaly Capital Management, Inc.
362,982
7,931,157
ARES Management Corp., Class A
103,765
13,333,802
Bank of New York Mellon Corp.
346,685
48,338,290
Berkshire Hathaway, Inc., Class B *
923,488
438,176,586
Blackstone, Inc.
377,246
44,126,465
Blue Owl Capital, Inc.
316,183
3,250,361
Capital One Financial Corp.
314,723
59,145,893
Carlyle Group, Inc.
130,449
5,926,298
Cboe Global Markets, Inc.
52,760
17,598,626
Charles Schwab Corp. (b)
838,513
73,244,111
CME Group, Inc.
181,698
49,701,671
Corebridge Financial, Inc.
129,038
3,484,026
Corpay, Inc. *
35,194
12,733,189
Equitable Holdings, Inc.
141,635
5,856,607
Evercore, Inc., Class A
19,538
6,659,723
Fidelity National Information
Services, Inc.
260,999
11,220,347
Fiserv, Inc. *
271,261
15,342,522
Franklin Resources, Inc.
155,727
4,830,652
Global Payments, Inc.
119,664
9,035,829
Goldman Sachs Group, Inc.
151,060
154,921,094
Houlihan Lokey, Inc.
27,754
3,931,632
Intercontinental Exchange, Inc.
285,795
42,254,791
Invesco Ltd.
223,222
6,352,898
Jack Henry & Associates, Inc.
36,568
4,984,950
Jefferies Financial Group, Inc.
83,543
4,404,387
MarketAxess Holdings, Inc.
18,709
2,432,918
Morgan Stanley
605,880
126,023,040
Morningstar, Inc.
11,737
2,136,369
Nasdaq, Inc.
226,358
20,942,642
Northern Trust Corp.
93,921
15,539,229
PayPal Holdings, Inc.
463,536
20,743,236
Raymond James Financial, Inc.
88,256
12,656,793
SEI Investments Co.
47,133
4,142,048
Starwood Property Trust, Inc.
175,918
3,004,679
State Street Corp.
140,449
21,859,482
Stifel Financial Corp.
76,608
5,374,051
Synchrony Financial
175,443
12,533,648
SECURITY
NUMBER
OF SHARES
VALUE ($)
T. Rowe Price Group, Inc.
109,947
11,492,760
Voya Financial, Inc.
47,210
3,834,396
 
1,427,333,370
 
Food, Beverage & Tobacco 4.2%
Altria Group, Inc.
845,563
58,834,274
Archer-Daniels-Midland Co.
241,759
19,287,533
Brown-Forman Corp., Class B
116,278
2,990,670
Bunge Global SA
67,915
8,373,919
Campbell's Co. (a)
98,409
2,077,414
Coca-Cola Co.
1,949,635
154,040,661
Coca-Cola Consolidated, Inc.
28,358
4,913,307
Conagra Brands, Inc.
239,698
3,183,189
General Mills, Inc.
268,963
9,093,639
Hershey Co.
74,773
14,508,205
Hormel Foods Corp.
145,983
3,391,185
J.M. Smucker Co.
54,229
5,596,433
Keurig Dr. Pepper, Inc.
683,220
20,517,097
Kraft Heinz Co.
429,591
10,314,480
Lamb Weston Holdings, Inc.
69,795
3,013,748
McCormick & Co., Inc. - Non Voting
Shares
127,748
6,051,423
Molson Coors Beverage Co., Class B
84,760
3,350,563
Mondelez International, Inc., Class A
645,903
39,509,887
Monster Beverage Corp. *
359,222
31,640,274
PepsiCo, Inc.
688,244
99,237,902
Philip Morris International, Inc.
783,963
139,059,357
Pilgrim's Pride Corp.
21,162
599,096
Primo Brands Corp.
126,525
3,137,820
Tyson Foods, Inc., Class A
141,757
8,650,012
 
651,372,088
 
Health Care Equipment & Services 3.9%
Abbott Laboratories
875,706
74,960,434
Align Technology, Inc. *
33,830
5,918,559
Baxter International, Inc.
256,893
4,824,451
Becton Dickinson & Co.
143,558
21,120,253
Boston Scientific Corp. *
746,869
36,081,241
Cardinal Health, Inc.
118,436
23,308,205
Cencora, Inc.
97,868
26,361,724
Centene Corp. *
234,901
14,000,100
Cigna Group
132,600
36,783,240
Cooper Cos., Inc. *
98,913
6,054,465
CVS Health Corp.
640,328
58,257,041
DaVita, Inc. *
17,216
3,346,102
Edwards Lifesciences Corp. *
292,294
25,274,662
Elevance Health, Inc.
111,213
43,727,839
Encompass Health Corp.
50,486
5,343,943
GE HealthCare Technologies, Inc.
229,480
14,305,783
HCA Healthcare, Inc.
78,789
29,824,788
Henry Schein, Inc. *
50,292
3,851,361
Labcorp Holdings, Inc.
41,664
10,835,140
Masimo Corp. *
23,223
4,144,144
Medline, Inc., Class A *
202,793
7,414,112
Medtronic PLC
645,650
47,655,427
Molina Healthcare, Inc. *
26,002
4,513,947
Quest Diagnostics, Inc.
55,496
10,816,170
Solventum Corp. *
74,483
5,582,501
STERIS PLC
49,360
10,500,353
Stryker Corp.
173,579
52,957,217
Tenet Healthcare Corp. *
44,280
7,763,170
Universal Health Services, Inc.,
Class B
27,644
4,039,065
Zimmer Biomet Holdings, Inc.
100,137
8,244,279
 
607,809,716
 
  
45

Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Household & Personal Products 1.7%
Church & Dwight Co., Inc.
119,092
11,388,768
Clorox Co.
61,280
5,516,425
Colgate-Palmolive Co.
405,674
36,563,398
Estee Lauder Cos., Inc., Class A
124,899
11,109,766
Kenvue, Inc.
964,213
16,661,601
Kimberly-Clark Corp.
166,872
16,286,707
Procter & Gamble Co.
1,170,355
168,016,164
 
265,542,829
 
Insurance 2.9%
Aflac, Inc.
235,050
26,424,321
Allstate Corp.
130,855
26,967,907
American Financial Group, Inc.
34,780
4,514,444
American International Group, Inc.
270,241
20,059,989
Aon PLC, Class A
108,163
34,185,998
Arch Capital Group Ltd. *
180,032
16,084,059
Arthur J Gallagher & Co.
129,384
26,020,416
Assurant, Inc.
25,383
6,317,067
Brown & Brown, Inc.
147,678
8,306,888
Chubb Ltd.
183,280
57,133,874
Cincinnati Financial Corp.
78,376
12,337,950
CNA Financial Corp.
11,249
473,133
Erie Indemnity Co., Class A
12,769
2,720,691
Everest Group Ltd.
20,545
6,657,196
Fidelity National Financial, Inc.
127,841
6,053,271
Globe Life, Inc.
39,910
6,115,808
Hartford Insurance Group, Inc.
140,575
17,871,300
Loews Corp.
84,853
8,786,528
Marsh & McLennan Cos., Inc.
243,938
39,022,762
MetLife, Inc.
277,384
22,936,883
Old Republic International Corp.
114,400
4,259,112
Principal Financial Group, Inc.
99,944
10,356,197
Prudential Financial, Inc.
175,116
17,623,674
Reinsurance Group of America, Inc.,
Class A
33,155
6,655,535
RenaissanceRe Holdings Ltd.
22,025
6,174,709
Travelers Cos., Inc.
108,850
31,772,227
Unum Group
76,884
6,399,055
W.R. Berkley Corp.
150,085
9,536,401
Willis Towers Watson PLC
47,780
11,929,233
 
453,696,628
 
Materials 3.1%
Air Products & Chemicals, Inc.
112,244
31,273,423
Albemarle Corp.
59,315
10,464,352
Alcoa Corp.
130,619
10,141,259
Amcor PLC
232,545
9,027,397
Amrize Ltd. *
258,499
14,059,761
AptarGroup, Inc.
32,419
3,755,741
Avery Dennison Corp.
38,784
6,169,371
Axalta Coating Systems Ltd. *
108,247
3,330,760
Ball Corp.
135,696
7,418,500
CF Industries Holdings, Inc.
78,774
8,850,259
Corteva, Inc.
338,533
26,500,363
CRH PLC
337,877
36,757,639
Crown Holdings, Inc.
56,787
5,399,308
Dow, Inc.
361,626
12,204,877
DuPont de Nemours, Inc.
206,389
9,993,355
Eastman Chemical Co.
57,455
4,359,111
Ecolab, Inc.
128,305
32,846,080
Freeport-McMoRan, Inc.
723,598
47,547,625
International Flavors & Fragrances,
Inc.
129,341
9,836,383
International Paper Co.
265,929
8,900,644
LyondellBasell Industries NV, Class A
129,501
8,631,242
SECURITY
NUMBER
OF SHARES
VALUE ($)
Mosaic Co.
158,412
3,786,047
MP Materials Corp. *
67,415
4,361,750
Newmont Corp.
549,282
60,316,656
Nucor Corp.
115,318
28,829,500
Packaging Corp. of America
45,172
9,888,603
PPG Industries, Inc.
112,886
12,753,860
Reliance, Inc.
26,402
10,053,090
Royal Gold, Inc.
40,691
9,134,316
RPM International, Inc.
64,342
6,818,322
Smurfit Westrock PLC
263,440
10,840,556
Steel Dynamics, Inc.
69,215
18,006,282
Westlake Corp.
16,825
1,460,915
 
483,717,347
 
Media & Entertainment 0.8%
Charter Communications, Inc.,
Class A *
43,437
6,257,100
Electronic Arts, Inc.
113,475
22,890,177
Fox Corp., Class A
165,757
10,595,187
Match Group, Inc.
118,534
4,282,633
News Corp., Class A
258,595
6,749,330
Omnicom Group, Inc.
158,636
11,534,424
Paramount Skydance Corp.,
Class B (a)
154,540
1,639,669
ROBLOX Corp., Class A *
332,422
15,673,697
Roku, Inc. *
65,807
8,566,755
Sirius XM Holdings, Inc.
94,305
2,783,884
Snap, Inc., Class A *
549,739
3,139,010
Warner Bros Discovery, Inc. *
1,249,196
33,740,784
 
127,852,650
 
Pharmaceuticals, Biotechnology & Life Sciences 6.9%
AbbVie, Inc.
890,034
193,778,202
Agilent Technologies, Inc.
142,751
19,347,043
Amgen, Inc.
271,288
91,367,086
Avantor, Inc. *
341,187
3,111,625
Biogen, Inc. *
74,015
14,506,940
BioMarin Pharmaceutical, Inc. *
97,436
5,582,108
Bio-Rad Laboratories, Inc., Class A *
9,237
2,886,378
Bio-Techne Corp.
78,487
4,056,208
Bristol-Myers Squibb Co.
1,025,883
58,659,990
Charles River Laboratories
International, Inc. *
24,666
4,457,393
Elanco Animal Health, Inc. *
248,754
5,932,783
Exelixis, Inc. *
131,039
6,614,849
Gilead Sciences, Inc.
624,818
83,994,284
Illumina, Inc. *
76,959
12,541,239
Incyte Corp. *
84,326
8,157,697
Jazz Pharmaceuticals PLC *
30,460
7,203,485
Johnson & Johnson
1,213,590
273,458,235
Merck & Co., Inc.
1,249,905
148,388,722
Pfizer, Inc.
2,863,244
74,959,728
Revvity, Inc.
56,797
5,938,126
Royalty Pharma PLC, Class A
190,013
10,595,125
Summit Therapeutics, Inc. *
79,093
1,387,291
United Therapeutics Corp. *
21,707
12,086,892
Viatris, Inc.
580,936
9,446,019
Zoetis, Inc.
212,727
16,526,761
 
1,074,984,209
 
Real Estate Management & Development 0.2%
CBRE Group, Inc., Class A *
146,165
18,276,472
CoStar Group, Inc. *
212,537
6,843,691
46
  

Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Jones Lang LaSalle, Inc. *
23,771
6,710,791
Zillow Group, Inc., Class C *
111,043
3,886,505
 
35,717,459
 
Semiconductors & Semiconductor Equipment 12.0%
Analog Devices, Inc.
246,105
101,850,554
Applied Materials, Inc.
399,716
179,896,183
Cerebras Systems, Inc., Class A *
15,125
3,584,474
Entegris, Inc.
76,466
10,612,716
First Solar, Inc. *
53,974
16,558,684
Intel Corp. *
2,364,500
271,160,860
Lam Research Corp.
628,923
200,110,720
Lattice Semiconductor Corp. *
68,584
10,087,335
Marvell Technology, Inc.
438,925
89,979,625
Microchip Technology, Inc.
272,708
25,811,812
Micron Technology, Inc.
566,802
550,364,742
NXP Semiconductors NV
126,786
40,742,681
ON Semiconductor Corp. *
198,452
23,937,280
Qnity Electronics, Inc.
105,608
16,474,848
Qorvo, Inc. *
42,297
4,380,277
QUALCOMM, Inc.
537,354
134,886,601
Skyworks Solutions, Inc.
76,064
5,921,583
Teradyne, Inc.
78,840
29,510,601
Texas Instruments, Inc.
457,052
139,711,655
 
1,855,583,231
 
Software & Services 3.3%
Accenture PLC, Class A
309,658
57,927,722
Akamai Technologies, Inc. *
72,656
10,864,978
Bentley Systems, Inc., Class B
74,660
2,436,902
Cognizant Technology Solutions
Corp., Class A
240,944
13,433,833
CoreWeave, Inc., Class A *
121,735
13,333,635
EPAM Systems, Inc. *
27,833
2,851,769
Gartner, Inc. *
35,392
5,740,583
Gen Digital, Inc.
277,833
7,165,313
Guidewire Software, Inc. *
42,773
6,530,154
International Business Machines
Corp.
470,774
140,196,497
Manhattan Associates, Inc. *
30,301
4,546,665
Nutanix, Inc., Class A *
135,834
7,072,876
Oracle Corp.
853,949
192,804,605
SailPoint, Inc. *
36,166
681,006
Trimble, Inc. *
119,327
6,731,236
Twilio, Inc., Class A *
76,381
14,561,274
Unity Software, Inc. *
175,345
5,342,762
VeriSign, Inc.
41,529
11,851,546
 
504,073,356
 
Technology Hardware & Equipment 6.1%
Amphenol Corp., Class A
619,070
92,092,853
Arrow Electronics, Inc. *
25,904
5,559,776
CDW Corp.
65,181
8,176,957
Ciena Corp. *
70,977
41,182,985
Cisco Systems, Inc.
1,989,698
239,599,433
Cognex Corp.
83,008
5,466,077
Corning, Inc.
393,195
71,231,206
Dell Technologies, Inc., Class C
149,586
62,962,243
Everpure, Inc., Class A *
158,187
12,577,448
F5, Inc. *
28,467
10,915,671
Fabrinet *
18,214
11,914,870
Flex Ltd. *
185,182
27,921,742
Hewlett Packard Enterprise Co.
669,361
28,809,297
HP, Inc.
462,644
12,509,894
IonQ, Inc. *(a)
178,872
12,891,305
Jabil, Inc.
53,268
19,419,382
SECURITY
NUMBER
OF SHARES
VALUE ($)
Keysight Technologies, Inc. *
86,433
29,242,877
Motorola Solutions, Inc.
83,458
33,656,942
NetApp, Inc.
99,475
17,337,498
Seagate Technology Holdings PLC
109,919
96,706,736
TD SYNNEX Corp.
37,846
9,888,403
Ubiquiti, Inc.
2,179
1,272,231
Western Digital Corp.
170,764
90,711,544
Zebra Technologies Corp., Class A *
24,798
6,041,537
 
948,088,907
 
Telecommunication Services 1.6%
AST SpaceMobile, Inc. *
125,400
14,221,614
AT&T, Inc.
3,525,385
87,429,548
Comcast Corp., Class A
1,806,050
44,916,463
Verizon Communications, Inc.
2,124,069
101,551,739
 
248,119,364
 
Transportation 2.4%
CH Robinson Worldwide, Inc.
59,608
10,648,969
CSX Corp.
936,511
42,386,488
Delta Air Lines, Inc.
327,165
26,984,569
Expeditors International of
Washington, Inc.
67,745
10,703,032
FedEx Corp.
108,909
44,843,281
JB Hunt Transport Services, Inc.
37,716
10,425,834
Joby Aviation, Inc. *
305,068
3,630,309
Knight-Swift Transportation
Holdings, Inc.
81,303
6,148,946
Norfolk Southern Corp.
113,022
34,467,189
Old Dominion Freight Line, Inc.
92,824
20,899,324
Southwest Airlines Co.
247,957
10,649,753
U-Haul Holding Co., Non Voting
Shares
54,972
2,859,643
Union Pacific Corp.
298,840
78,487,338
United Airlines Holdings, Inc. *
162,535
18,659,018
United Parcel Service, Inc., Class B
372,359
39,726,982
XPO, Inc. *
59,027
12,646,535
 
374,167,210
 
Utilities 4.2%
AES Corp.
361,714
5,306,344
Alliant Energy Corp.
129,495
9,273,137
Ameren Corp.
138,990
15,006,750
American Electric Power Co., Inc.
272,689
34,541,516
American Water Works Co., Inc.
98,207
12,105,977
Atmos Energy Corp.
83,454
14,114,575
CenterPoint Energy, Inc.
328,990
13,903,117
CMS Energy Corp.
154,038
11,178,538
Consolidated Edison, Inc.
181,622
19,184,732
Dominion Energy, Inc.
429,780
28,769,473
DTE Energy Co.
104,658
14,952,489
Duke Energy Corp.
391,637
48,065,609
Edison International
193,471
13,531,362
Entergy Corp.
227,898
24,852,277
Essential Utilities, Inc.
142,145
5,243,729
Evergy, Inc.
116,250
9,537,150
Eversource Energy
189,086
12,908,901
Exelon Corp.
514,974
23,503,413
FirstEnergy Corp.
262,167
12,161,927
NextEra Energy, Inc.
1,048,786
91,254,870
NiSource, Inc.
240,659
11,123,259
NRG Energy, Inc.
106,805
14,320,414
OGE Energy Corp.
103,581
4,892,131
PG&E Corp.
1,105,148
18,058,118
Pinnacle West Capital Corp.
60,680
6,052,223
PPL Corp.
372,499
13,182,740
  
47

Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Public Service Enterprise Group, Inc.
251,393
19,772,059
Sempra
328,424
29,272,431
Southern Co.
554,333
51,026,353
Vistra Corp.
160,482
25,714,031
WEC Energy Group, Inc.
163,874
18,198,208
Xcel Energy, Inc.
298,174
23,704,833
 
654,712,686
Total Common Stocks
(Cost $9,793,520,089)
15,504,062,284
 
 
 
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS
 
Money Market Funds 0.1%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)
2,393,740
2,393,740
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (c)(d)
18,858,810
18,858,810
 
21,252,550
Total Short-Term Investments
(Cost $21,252,550)
21,252,550
Total Investments in Securities
(Cost $9,814,772,639)
15,525,314,834
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
DJIA CBOT, e-mini, expires
06/18/26
84
21,452,340
592,238
S&P 400 Mid-Cap Index,
e-mini, expires 06/18/26
6
2,239,200
38,507
 
630,745
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Issuer is affiliated with the fund’s investment adviser.
(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 $18,580,848.
CBOT —
Chicago Board of Trade
REIT —
Real Estate Investment Trust
Below is a summary of the fund’s transactions with affiliated issuers during the period ended May 31, 2026:
SECURITY
VALUE AT
8/31/25
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 0.5% OF NET ASSETS
 
Financial Services 0.5%
Charles Schwab Corp. (a)
$84,085,416
$9,270,252
($12,971,303
)
$3,165,021
($10,305,275
)
$73,244,111
838,513
$785,381
(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
$15,504,062,284
$
$
$15,504,062,284
Short-Term Investments 1
21,252,550
21,252,550
Futures Contracts 2
630,745
630,745
Total
$15,525,945,579
$—
$—
$15,525,945,579
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
48
  

Schwab Strategic Trust
Schwab U.S. Mid-Cap ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 1.0%
Autoliv, Inc.
185,762
23,614,065
BorgWarner, Inc.
559,561
40,187,671
Gentex Corp.
592,495
14,314,679
Lear Corp.
137,169
19,631,627
Rivian Automotive, Inc., Class A *
2,209,885
36,021,126
Thor Industries, Inc.
143,194
11,323,782
 
145,092,950
 
Banks 3.7%
Bank OZK
280,794
13,587,622
BOK Financial Corp.
57,291
7,335,540
Central BanCo, Inc.
92,693
2,632,481
Columbia Banking System, Inc.
798,079
23,655,062
Commerce Bancshares, Inc.
370,246
19,334,246
Cullen/Frost Bankers, Inc.
170,782
23,144,377
East West Bancorp, Inc.
372,040
45,589,782
First Financial Bankshares, Inc.
352,760
11,528,197
First Horizon Corp.
1,313,027
31,814,644
Flagstar Bank NA
810,457
11,395,025
Glacier Bancorp, Inc.
347,992
16,547,020
KeyCorp
2,533,809
54,046,146
Old National Bancorp
936,833
22,493,360
Pinnacle Financial Partners, Inc.
407,438
39,822,990
Popular, Inc.
177,584
26,376,552
Prosperity Bancshares, Inc.
272,916
18,820,287
Southstate Bank Corp.
267,803
25,374,334
UMB Financial Corp.
192,955
25,327,273
Valley National Bancorp
1,292,985
17,804,403
Webster Financial Corp.
436,599
31,749,479
Western Alliance Bancorp
277,459
22,099,609
Wintrust Financial Corp.
181,025
27,195,386
Zions Bancorp NA
398,862
24,908,932
 
542,582,747
 
Capital Goods 17.8%
A.O. Smith Corp.
303,642
17,222,574
AAON, Inc.
182,985
25,654,497
Acuity, Inc.
82,355
25,127,334
Advanced Drainage Systems, Inc.
193,569
26,937,062
AECOM
350,096
24,286,160
AeroVironment, Inc. *
85,892
17,800,258
AGCO Corp.
162,376
18,231,577
Allegion PLC
232,886
30,291,482
Alliance Laundry Holdings, Inc. *
102,718
2,593,630
Allison Transmission Holdings, Inc.
225,389
25,588,413
API Group Corp. *
1,037,556
42,539,796
Applied Industrial Technologies, Inc.
100,791
30,621,314
Armstrong World Industries, Inc.
116,454
18,388,087
ATI, Inc. *
367,384
64,350,981
Beta Technologies, Inc., Class A *
85,219
1,562,916
Bloom Energy Corp., Class A *
697,928
198,909,480
BWX Technologies, Inc.
247,224
48,426,237
Carlisle Cos., Inc.
110,211
38,001,855
Carpenter Technology Corp.
134,689
63,166,447
Chart Industries, Inc. *
121,509
25,252,000
SECURITY
NUMBER
OF SHARES
VALUE ($)
CNH Industrial NV
2,396,395
24,467,193
Core & Main, Inc., Class A *
509,887
25,213,912
Crane Co.
132,610
24,267,630
Curtiss-Wright Corp.
99,698
74,535,222
Donaldson Co., Inc.
311,565
25,507,827
Dycom Industries, Inc. *
81,032
41,326,320
EquipmentShare.com, Inc.,
Class A *(a)
82,582
1,721,009
Federal Signal Corp.
164,348
17,535,932
Flowserve Corp.
344,034
25,978,007
Fluor Corp. *
435,323
19,920,380
Forgent Power Solutions, Inc. *
239,383
13,084,675
Fortune Brands Innovations, Inc.
324,569
12,638,717
FTAI Aviation Ltd.
277,363
72,208,683
Generac Holdings, Inc. *
158,578
44,070,412
Graco, Inc.
448,674
33,852,453
Hexcel Corp.
205,103
18,416,198
Huntington Ingalls Industries, Inc.
106,115
32,701,460
IDEX Corp.
202,396
42,671,149
ITT, Inc.
232,549
45,347,055
JBT Marel Corp.
140,368
18,864,056
Kratos Defense & Security Solutions,
Inc. *
499,691
32,045,184
Leonardo DRS, Inc.
208,451
10,164,071
Lincoln Electric Holdings, Inc.
148,893
38,487,352
Loar Holdings, Inc. *
96,369
6,213,873
Masco Corp.
551,155
38,718,639
MasTec, Inc. *
165,859
62,756,070
Middleby Corp. *
125,319
19,425,698
Modine Manufacturing Co. *
142,744
39,812,729
Mueller Industries, Inc.
300,483
38,642,114
Nextpower, Inc., Class A *
401,487
62,792,567
Nordson Corp.
143,235
41,155,713
nVent Electric PLC
436,326
72,862,079
Oshkosh Corp.
170,848
22,210,240
Owens Corning
222,105
27,945,251
Pentair PLC
442,872
31,373,052
QXO, Inc. *(a)
1,376,651
23,747,230
RBC Bearings, Inc. *
85,499
48,902,008
Regal Rexnord Corp.
179,422
36,200,183
Sensata Technologies Holding PLC
393,791
19,449,337
Simpson Manufacturing Co., Inc.
112,079
21,265,869
SiteOne Landscape Supply, Inc. *
119,860
13,016,796
Snap-on, Inc.
140,376
52,108,975
SPX Technologies, Inc. *
134,625
29,167,853
StandardAero, Inc. *
512,963
14,691,260
Stanley Black & Decker, Inc.
418,486
33,236,158
Sterling Infrastructure, Inc. *
83,041
71,485,014
Textron, Inc.
470,943
43,213,730
Timken Co.
171,387
21,934,108
Toro Co.
263,349
23,669,808
Trex Co., Inc. *
290,440
12,024,216
UFP Industries, Inc.
157,231
12,735,711
Valmont Industries, Inc.
53,270
27,690,279
Watsco, Inc.
94,371
34,643,594
Watts Water Technologies, Inc.,
Class A
74,150
22,910,867
WESCO International, Inc.
131,541
47,508,663
WillScot Holdings Corp.
490,821
12,628,824
  
49

Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Woodward, Inc.
161,205
56,426,586
Zurn Elkay Water Solutions Corp.
401,042
18,848,974
 
2,601,391,065
 
Commercial & Professional Services 2.1%
Amentum Holdings, Inc. *
416,858
9,683,611
Booz Allen Hamilton Holding Corp.,
Class A
325,727
25,791,064
CACI International, Inc., Class A *
59,671
30,641,655
Clean Harbors, Inc. *
135,957
38,207,996
ExlService Holdings, Inc. *
425,518
12,352,787
FTI Consulting, Inc. *
81,787
12,528,133
Genpact Ltd.
428,559
14,121,019
KBR, Inc.
343,109
11,991,660
Maximus, Inc.
147,459
9,132,136
MSA Safety, Inc.
98,559
16,341,082
Parsons Corp. *
143,091
8,456,678
Paycom Software, Inc.
132,165
18,459,486
Paylocity Holding Corp. *
118,028
13,564,958
RB Global, Inc.
502,121
53,400,568
Science Applications International
Corp.
122,448
12,759,082
Tetra Tech, Inc.
704,129
19,356,506
 
306,788,421
 
Consumer Discretionary Distribution & Retail 2.8%
Abercrombie & Fitch Co., Class A *
123,872
9,565,396
AutoNation, Inc. *
70,408
13,216,990
Bath & Body Works, Inc.
555,486
11,120,830
Burlington Stores, Inc. *
168,138
54,448,128
CarMax, Inc. *
382,987
17,088,880
Chewy, Inc., Class A *
646,861
14,580,247
Dick's Sporting Goods, Inc.
179,458
40,839,257
Etsy, Inc. *
266,693
18,113,788
Five Below, Inc. *
149,308
33,946,667
Floor & Decor Holdings, Inc.,
Class A *
290,942
14,954,419
GameStop Corp., Class A *
1,116,309
23,643,425
Gap, Inc.
612,505
12,954,481
Lithia Motors, Inc.
65,573
19,074,530
LKQ Corp.
691,036
18,740,896
Murphy USA, Inc.
45,685
23,117,980
Ollie's Bargain Outlet Holdings, Inc. *
165,549
13,513,765
Penske Automotive Group, Inc.
49,997
8,367,998
Pool Corp.
88,550
16,062,970
RH *
41,494
6,161,444
Urban Outfitters, Inc. *
145,984
10,605,737
Valvoline, Inc. *
344,473
11,625,964
Wayfair, Inc., Class A *
289,607
20,927,002
 
412,670,794
 
Consumer Durables & Apparel 2.6%
Crocs, Inc. *
136,063
16,146,596
Hasbro, Inc.
360,170
31,035,849
Installed Building Products, Inc.
61,271
12,865,685
KB Home
171,304
8,369,913
Mattel, Inc. *
839,649
12,544,356
Meritage Homes Corp.
180,825
11,797,023
Mohawk Industries, Inc. *
140,540
15,096,807
Ralph Lauren Corp.
104,492
38,024,639
Somnigroup International, Inc.
567,603
40,191,968
Tapestry, Inc.
547,474
79,635,568
Taylor Morrison Home Corp. *
264,399
15,467,342
Toll Brothers, Inc.
256,423
35,524,842
TopBuild Corp. *
75,413
31,483,419
SECURITY
NUMBER
OF SHARES
VALUE ($)
VF Corp.
886,992
15,238,523
Whirlpool Corp.
171,973
7,467,068
 
370,889,598
 
Consumer Services 2.9%
ADT, Inc.
1,579,904
10,601,156
Aramark
710,196
37,910,263
Boyd Gaming Corp.
156,277
12,920,982
Bright Horizons Family Solutions,
Inc. *
152,833
9,570,403
Brinker International, Inc. *
117,638
16,749,299
Caesars Entertainment, Inc. *
551,307
16,015,468
Cava Group, Inc. *
269,470
20,927,040
Choice Hotels International, Inc. (a)
56,112
6,109,475
Churchill Downs, Inc.
179,234
15,630,997
Duolingo, Inc. *
107,936
12,019,753
Dutch Bros, Inc., Class A *
343,224
19,906,992
H&R Block, Inc.
341,949
13,161,617
Hyatt Hotels Corp., Class A
111,809
20,277,680
Liberty Live Holdings, Inc., Class C *
189,234
18,753,089
MGM Resorts International *
518,312
22,634,685
Norwegian Cruise Line Holdings
Ltd. *
1,233,173
22,616,393
Planet Fitness, Inc., Class A *
225,140
12,047,241
Service Corp. International
376,065
28,276,327
Stride, Inc. *
113,610
10,495,292
Texas Roadhouse, Inc.
178,784
32,291,966
Vail Resorts, Inc.
96,790
12,931,144
Wingstop, Inc.
75,073
11,783,458
Wyndham Hotels & Resorts, Inc.
204,400
16,405,144
Wynn Resorts Ltd.
228,078
23,086,055
 
423,121,919
 
Consumer Staples Distribution & Retail 1.8%
Albertsons Cos., Inc., Class A
999,537
15,602,773
BJ's Wholesale Club Holdings, Inc. *
353,548
30,150,573
Casey's General Stores, Inc.
100,231
76,891,209
Maplebear, Inc. *
496,335
19,754,133
Performance Food Group Co. *
425,205
41,750,879
Sprouts Farmers Market, Inc. *
263,219
21,747,154
U.S. Foods Holding Corp. *
596,357
48,811,821
 
254,708,542
 
Energy 3.3%
Antero Midstream Corp.
894,580
18,750,397
Antero Resources Corp. *
793,577
28,370,378
APA Corp.
959,818
34,966,170
Chord Energy Corp.
153,720
20,271,056
DT Midstream, Inc.
275,205
38,523,196
HF Sinclair Corp.
422,514
29,529,503
Matador Resources Co.
315,522
16,911,979
Noble Corp. PLC
340,064
15,806,175
NOV, Inc.
973,770
19,436,449
Ovintiv, Inc.
750,830
42,076,513
Permian Resources Corp., Class A
2,003,308
38,523,613
Range Resources Corp.
640,015
24,928,584
TechnipFMC PLC
1,093,844
74,840,807
Texas Pacific Land Corp.
156,586
61,538,298
Venture Global, Inc., Class A
1,295,697
15,600,192
 
480,073,310
 
Equity Real Estate Investment Trusts (REITs) 5.4%
Agree Realty Corp.
324,627
24,071,092
Alexandria Real Estate Equities, Inc.
421,284
20,929,389
American Homes 4 Rent, Class A
880,848
28,257,604
50
  

Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Americold Realty Trust, Inc.
769,891
12,079,590
Brixmor Property Group, Inc.
828,215
25,310,250
BXP, Inc.
398,389
23,907,324
Camden Property Trust
279,453
29,778,512
CareTrust REIT, Inc.
603,495
24,634,666
CubeSmart
616,070
24,642,800
EastGroup Properties, Inc.
143,894
29,053,638
Equity LifeStyle Properties, Inc.
524,737
32,413,004
Federal Realty Investment Trust
212,196
25,385,007
First Industrial Realty Trust, Inc.
358,019
22,150,636
Gaming & Leisure Properties, Inc.
766,040
35,980,899
Healthcare Realty Trust, Inc.
942,743
18,779,441
Healthpeak Properties, Inc.
1,878,125
35,966,094
Host Hotels & Resorts, Inc.
1,731,053
39,779,598
Kilroy Realty Corp.
295,422
10,124,112
Kimco Realty Corp.
1,822,784
43,892,639
Lamar Advertising Co., Class A
234,748
35,789,680
Lineage, Inc.
155,053
6,885,904
NNN REIT, Inc.
513,074
22,836,924
Omega Healthcare Investors, Inc.
800,033
37,409,543
Regency Centers Corp.
445,655
34,471,414
Rexford Industrial Realty, Inc.
621,901
22,058,828
STAG Industrial, Inc.
516,038
19,542,359
Terreno Realty Corp.
281,547
18,494,822
UDR, Inc.
814,427
30,052,356
Vornado Realty Trust
433,362
14,625,967
WP Carey, Inc.
592,583
44,100,027
 
793,404,119
 
Financial Services 4.7%
Affiliated Managers Group, Inc.
76,005
23,018,114
AGNC Investment Corp.
2,998,426
31,213,615
Ally Financial, Inc.
759,947
32,533,331
Annaly Capital Management, Inc.
1,942,557
42,444,870
Blue Owl Capital, Inc.
1,705,973
17,537,402
Chime Financial, Inc., Class A *
93,909
1,746,707
Corebridge Financial, Inc.
689,695
18,621,765
Credit Acceptance Corp. *
16,172
9,276,906
Equitable Holdings, Inc.
765,495
31,653,218
Essent Group Ltd.
258,338
14,955,187
Evercore, Inc., Class A
104,554
35,638,276
FactSet Research Systems, Inc. (a)
100,216
24,600,022
Figure Technology Solutions, Inc.,
Class A *
85,520
3,023,132
Franklin Resources, Inc.
830,332
25,756,899
Houlihan Lokey, Inc.
146,896
20,809,287
Invesco Ltd.
1,202,248
34,215,978
Jack Henry & Associates, Inc.
194,966
26,577,765
Jackson Financial, Inc., Class A
191,305
19,725,459
Janus Henderson Group PLC
332,968
17,217,775
Jefferies Financial Group, Inc.
446,793
23,554,927
Lazard, Inc., Class A
304,938
14,432,716
MarketAxess Holdings, Inc.
100,838
13,112,974
MGIC Investment Corp.
592,676
14,947,289
Morningstar, Inc.
62,275
11,335,296
OneMain Holdings, Inc.
316,378
17,498,867
Rithm Capital Corp.
1,501,714
13,995,974
SEI Investments Co.
251,059
22,063,065
Starwood Property Trust, Inc.
940,039
16,055,866
Stifel Financial Corp.
412,917
28,966,128
TPG, Inc.
348,465
14,834,155
Tradeweb Markets, Inc., Class A
313,089
31,387,172
Voya Financial, Inc.
254,095
20,637,596
WEX, Inc. *
92,667
13,433,008
 
686,820,741
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Food, Beverage & Tobacco 1.9%
Brown-Forman Corp., Class B
616,950
15,867,954
Bunge Global SA
366,001
45,127,923
Campbell's Co. (a)
532,458
11,240,188
Celsius Holdings, Inc. *
432,585
14,392,103
Coca-Cola Consolidated, Inc.
152,810
26,475,861
Conagra Brands, Inc.
1,291,734
17,154,228
Darling Ingredients, Inc. *
427,295
25,253,134
Ingredion, Inc.
170,175
17,262,552
J.M. Smucker Co.
288,348
29,757,514
Lamb Weston Holdings, Inc.
375,708
16,223,071
Marzetti Co.
55,056
6,162,969
Molson Coors Beverage Co., Class B
457,278
18,076,199
Pilgrim's Pride Corp.
116,421
3,295,879
Post Holdings, Inc. *
114,446
10,510,721
Primo Brands Corp.
673,758
16,709,198
 
273,509,494
 
Health Care Equipment & Services 4.1%
Align Technology, Inc. *
180,299
31,543,310
Baxter International, Inc.
1,390,019
26,104,557
Centene Corp. *
1,263,251
75,289,760
Chemed Corp.
38,300
16,331,503
Cooper Cos., Inc. *
530,369
32,463,887
DaVita, Inc. *
90,512
17,591,912
Doximity, Inc., Class A *
361,328
7,732,419
Encompass Health Corp.
271,843
28,774,582
Ensign Group, Inc.
155,840
26,126,576
Glaukos Corp. *
155,307
16,050,978
Globus Medical, Inc., Class A *
300,905
24,638,101
Guardant Health, Inc. *
348,281
45,168,563
HealthEquity, Inc. *
230,781
20,306,420
Henry Schein, Inc. *
270,326
20,701,565
Hims & Hers Health, Inc. *
563,791
14,743,135
Masimo Corp. *
123,438
22,027,511
Molina Healthcare, Inc. *
139,259
24,175,362
Option Care Health, Inc. *
428,904
8,951,227
Penumbra, Inc. *
106,066
33,760,808
Solventum Corp. *
398,380
29,858,581
Teleflex, Inc.
119,480
15,369,907
Tenet Healthcare Corp. *
237,646
41,664,097
Universal Health Services, Inc.,
Class B
149,584
21,855,718
 
601,230,479
 
Household & Personal Products 0.3%
BellRing Brands, Inc. *
317,878
2,657,460
Clorox Co.
327,358
29,468,767
Coty, Inc., Class A *
1,012,338
2,156,280
elf Beauty, Inc. *
159,558
8,935,248
Reynolds Consumer Products, Inc.
146,397
3,172,423
 
46,390,178
 
Insurance 3.4%
American Financial Group, Inc.
187,082
24,283,244
Assurant, Inc.
135,364
33,688,039
Axis Capital Holdings Ltd.
208,109
19,755,787
CNA Financial Corp.
59,318
2,494,915
Everest Group Ltd.
109,990
35,640,060
F&G Annuities & Life, Inc.
100,903
2,797,031
Fidelity National Financial, Inc.
690,508
32,695,554
First American Financial Corp.
275,639
18,255,571
Globe Life, Inc.
215,508
33,024,446
Hanover Insurance Group, Inc.
95,724
17,823,809
Kinsale Capital Group, Inc.
59,692
18,192,331
  
51

Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Lincoln National Corp.
456,623
16,114,226
Loews Corp.
456,886
47,310,545
Old Republic International Corp.
616,687
22,959,257
Primerica, Inc.
86,274
23,291,392
Reinsurance Group of America, Inc.,
Class A
177,579
35,647,208
RenaissanceRe Holdings Ltd.
117,730
33,005,605
RLI Corp.
248,117
12,415,775
Ryan Specialty Holdings, Inc.
309,439
9,855,632
Selective Insurance Group, Inc.
162,675
14,077,894
Unum Group
411,958
34,287,264
 
487,615,585
 
Materials 6.1%
Albemarle Corp.
318,665
56,218,879
Alcoa Corp.
700,253
54,367,643
AptarGroup, Inc.
173,817
20,136,700
Avery Dennison Corp.
209,234
33,282,852
Axalta Coating Systems Ltd. *
577,408
17,766,844
Ball Corp.
724,651
39,616,670
Celanese Corp.
295,631
15,706,875
CF Industries Holdings, Inc.
421,765
47,385,298
Cleveland-Cliffs, Inc. *
1,541,828
20,968,861
Coeur Mining, Inc.
2,798,129
54,059,852
Commercial Metals Co.
299,746
22,795,683
Crown Holdings, Inc.
302,777
28,788,037
Eagle Materials, Inc.
84,936
18,786,145
Eastman Chemical Co.
308,219
23,384,576
FMC Corp.
338,190
4,619,675
Graphic Packaging Holding Co.
800,193
9,010,173
Louisiana-Pacific Corp.
171,466
13,096,573
Mosaic Co.
856,945
20,480,986
MP Materials Corp. *
363,863
23,541,936
NewMarket Corp.
21,137
16,351,161
Packaging Corp. of America
241,664
52,902,666
Reliance, Inc.
141,387
53,835,928
Royal Gold, Inc.
219,088
49,180,874
RPM International, Inc.
346,716
36,741,495
Solstice Advanced Materials, Inc.
429,644
36,188,914
Sonoco Products Co.
266,541
12,975,216
Steel Dynamics, Inc.
371,193
96,565,859
Westlake Corp.
90,310
7,841,617
 
886,597,988
 
Media & Entertainment 2.3%
Liberty Broadband Corp., Class C *
364,135
12,293,197
Match Group, Inc.
637,728
23,041,113
New York Times Co., Class A
437,423
32,898,584
News Corp., Class A
1,379,615
36,007,951
Nexstar Media Group, Inc.
77,051
13,748,210
Omnicom Group, Inc.
850,706
61,854,833
Paramount Skydance Corp.,
Class B (a)
843,159
8,945,917
Pinterest, Inc., Class A *
1,581,615
31,711,381
Roku, Inc. *
353,523
46,021,624
Sirius XM Holdings, Inc.
507,840
14,991,437
Snap, Inc., Class A *
2,983,238
17,034,289
TKO Group Holdings, Inc.
179,149
36,757,792
Trump Media & Technology Group
Corp. *
437,504
4,073,162
 
339,379,490
 
Pharmaceuticals, Biotechnology & Life Sciences 6.7%
Alkermes PLC *
446,238
18,826,781
Avantor, Inc. *
1,846,654
16,841,484
BioMarin Pharmaceutical, Inc. *
518,955
29,730,932
SECURITY
NUMBER
OF SHARES
VALUE ($)
Bio-Rad Laboratories, Inc., Class A *
49,165
15,363,079
Bio-Techne Corp.
423,829
21,903,483
Bridgebio Pharma, Inc. *
459,045
30,416,322
Bruker Corp.
299,658
17,646,860
Charles River Laboratories
International, Inc. *
133,341
24,096,052
Corcept Therapeutics, Inc. *
253,190
17,594,173
CRISPR Therapeutics AG *
259,544
14,581,182
Cytokinetics, Inc. *
356,940
27,398,714
Elanco Animal Health, Inc. *
1,345,136
32,081,494
Exelixis, Inc. *
703,070
35,490,974
Halozyme Therapeutics, Inc. *
317,701
21,139,825
Incyte Corp. *
452,041
43,730,446
Ionis Pharmaceuticals, Inc. *
438,447
33,541,195
Jazz Pharmaceuticals PLC *
164,310
38,857,672
Madrigal Pharmaceuticals, Inc. *
50,311
25,018,151
Medpace Holdings, Inc. *
60,580
27,085,924
Moderna, Inc. *
940,344
44,374,833
Neurocrine Biosciences, Inc. *
271,303
42,947,265
Repligen Corp. *
143,134
17,741,459
Revolution Medicines, Inc. *
530,570
83,554,164
Revvity, Inc.
306,266
32,020,110
Roivant Sciences Ltd. *
1,220,441
36,601,026
Royalty Pharma PLC, Class A
1,019,452
56,844,644
Sotera Health Co. *
713,449
11,158,342
Summit Therapeutics, Inc. *
416,668
7,308,357
Tempus AI, Inc., Class A *
275,243
13,891,514
United Therapeutics Corp. *
116,428
64,829,439
Vaxcyte, Inc. *
347,815
17,877,691
Viatris, Inc.
3,114,448
50,640,924
 
971,134,511
 
Real Estate Management & Development 0.4%
Jones Lang LaSalle, Inc. *
127,756
36,066,796
Zillow Group, Inc., Class C *
602,947
21,103,145
 
57,169,941
 
Semiconductors & Semiconductor Equipment 3.1%
Allegro MicroSystems, Inc. *
335,959
16,082,357
Amkor Technology, Inc.
307,475
21,387,961
Cerebras Systems, Inc., Class A *
81,122
19,225,103
Cirrus Logic, Inc. *
137,883
23,433,216
Entegris, Inc.
411,016
57,044,911
Lattice Semiconductor Corp. *
369,724
54,379,006
MACOM Technology Solutions
Holdings, Inc. *
174,439
63,607,437
MKS, Inc.
181,629
58,895,019
Onto Innovation, Inc. *
134,432
34,715,720
Qorvo, Inc. *
228,121
23,624,211
Rambus, Inc. *
290,930
42,318,678
Skyworks Solutions, Inc.
406,451
31,642,210
Universal Display Corp.
119,686
11,025,474
 
457,381,303
 
Software & Services 5.1%
Akamai Technologies, Inc. *
388,866
58,151,022
Aurora Innovation, Inc. *
3,374,374
24,767,905
Bentley Systems, Inc., Class B
402,592
13,140,603
Bill Holdings, Inc. *
238,018
8,811,426
BitMine Immersion Technologies, Inc.
1,231,893
23,738,578
CCC Intelligent Solutions Holdings,
Inc. *
1,576,363
7,408,906
Commvault Systems, Inc. *
119,105
14,143,719
Docusign, Inc. *
541,127
28,419,990
Dolby Laboratories, Inc., Class A
165,182
9,218,807
Dropbox, Inc., Class A *
471,175
12,665,184
52
  

Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Dynatrace, Inc. *
805,963
34,325,964
Elastic NV *
251,003
16,239,894
EPAM Systems, Inc. *
149,777
15,346,152
Guidewire Software, Inc. *
229,794
35,082,650
InterDigital, Inc.
69,368
17,486,979
Kyndryl Holdings, Inc. *
620,933
7,743,035
Manhattan Associates, Inc. *
161,748
24,270,287
Nutanix, Inc., Class A *
730,746
38,049,944
Okta, Inc. *
458,074
56,466,782
Pegasystems, Inc.
246,694
8,814,377
Procore Technologies, Inc. *
323,178
15,994,079
Qualys, Inc. *
97,084
10,610,310
Rubrik, Inc., Class A *
410,646
32,289,095
SailPoint, Inc. *
198,728
3,742,048
Samsara, Inc., Class A *
967,835
33,864,547
SentinelOne, Inc., Class A *
901,408
14,918,302
ServiceTitan, Inc., Class A *
154,907
11,209,071
SPS Commerce, Inc. *
102,783
5,832,935
Trimble, Inc. *
643,351
36,291,430
Twilio, Inc., Class A *
409,970
78,156,681
UiPath, Inc., Class A *
1,160,636
13,602,654
Unity Software, Inc. *
935,692
28,510,535
 
739,313,891
 
Technology Hardware & Equipment 12.0%
Arrow Electronics, Inc. *
138,139
29,648,774
Ciena Corp. *
380,880
220,998,002
Cognex Corp.
447,806
29,488,025
Coherent Corp. *
506,961
183,251,193
F5, Inc. *
152,830
58,602,663
Fabrinet *
96,875
63,371,750
Flex Ltd. *
994,210
149,906,984
IonQ, Inc. *(a)
957,992
69,042,483
Littelfuse, Inc.
67,304
31,422,218
Lumentum Holdings, Inc. *
193,069
165,066,272
Novanta, Inc. *
96,727
15,411,513
Sandisk Corp. *
399,121
676,502,113
TD SYNNEX Corp.
202,756
52,976,088
 
1,745,688,078
 
Telecommunication Services 0.5%
AST SpaceMobile, Inc. *
673,759
76,411,008
 
Transportation 2.9%
Alaska Air Group, Inc. *
310,749
14,300,669
American Airlines Group, Inc. *
1,784,117
26,119,473
CH Robinson Worldwide, Inc.
320,758
57,303,417
GXO Logistics, Inc. *
309,105
15,489,252
JB Hunt Transport Services, Inc.
202,074
55,859,316
Joby Aviation, Inc. *
1,640,792
19,525,425
Kirby Corp. *
146,498
20,596,154
Knight-Swift Transportation
Holdings, Inc.
438,637
33,174,116
Landstar System, Inc.
92,088
19,053,007
Lyft, Inc., Class A *
1,077,057
15,197,274
Ryder System, Inc.
106,613
26,743,871
Saia, Inc. *
72,044
34,031,424
U-Haul Holding Co., Non Voting
Shares
296,305
15,413,786
XPO, Inc. *
316,772
67,868,401
 
420,675,585
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Utilities 3.0%
AES Corp.
1,923,575
28,218,845
Alliant Energy Corp.
695,088
49,775,252
Black Hills Corp.
203,909
14,848,653
Essential Utilities, Inc.
766,221
28,265,893
Evergy, Inc.
622,511
51,070,803
Fervo Energy Co., Class A *(a)
187,300
6,866,418
IDACORP, Inc.
146,045
20,485,732
National Fuel Gas Co.
257,448
19,887,858
NiSource, Inc.
1,293,979
59,807,709
OGE Energy Corp.
555,003
26,212,792
Oklo, Inc. *
333,481
22,303,209
Pinnacle West Capital Corp.
324,007
32,316,458
Portland General Electric Co.
304,367
15,254,874
Talen Energy Corp. *
123,543
47,786,433
UGI Corp.
579,697
20,243,019
 
443,343,948
Total Common Stocks
(Cost $10,124,445,411)
14,563,385,685
 
 
 
SHORT-TERM INVESTMENTS 0.8% OF NET ASSETS
 
Money Market Funds 0.8%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (b)
8,759,519
8,759,519
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (b)(c)
110,812,210
110,812,210
 
119,571,729
Total Short-Term Investments
(Cost $119,571,729)
119,571,729
Total Investments in Securities
(Cost $10,244,017,140)
14,682,957,414
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
S&P 400 Mid-Cap Index,
e-mini, expires 06/18/26
49
18,286,800
333,057
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
The rate shown is the annualized 7-day yield.
(c)
Security purchased with cash collateral received for securities on loan.
Securities on loan were valued at $108,632,875.
REIT —
Real Estate Investment Trust

  
53

Schwab U.S. Mid-Cap 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 Stocks1
$14,563,385,685
$
$
$14,563,385,685
Short-Term Investments1
119,571,729
119,571,729
Futures Contracts2
333,057
333,057
Total
$14,683,290,471
$—
$—
$14,683,290,471
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
54
  

Schwab Strategic Trust
Schwab U.S. Small-Cap ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.9% OF NET ASSETS
 
Automobiles & Components 1.3%
Adient PLC *
377,391
8,627,158
Dana, Inc.
539,165
19,091,833
Dauch Corp. *
1,138,992
7,562,907
Dorman Products, Inc. *
133,179
16,503,542
Fox Factory Holding Corp. *
199,368
3,596,599
Garrett Motion, Inc.
636,352
20,846,891
Gentex Corp.
1,049,703
25,360,824
Gentherm, Inc. *
145,885
5,060,751
Goodyear Tire & Rubber Co. *
1,384,756
8,447,012
Harley-Davidson, Inc.
569,127
13,761,491
Holley, Inc. *
268,580
733,223
Kodiak AI, Inc. *(a)
498,423
3,508,898
LCI Industries
115,866
12,631,711
Lear Corp.
244,005
34,921,996
Livewire Group, Inc. *(a)
104,792
147,757
Mobileye Global, Inc., Class A *
798,033
8,251,661
Patrick Industries, Inc.
160,137
14,495,601
Phinia, Inc.
182,629
14,109,917
QuantumScape Corp. *
2,247,324
20,180,970
Solid Power, Inc. *
888,997
2,942,580
Standard Motor Products, Inc.
99,917
3,915,747
Stoneridge, Inc. *
133,783
999,359
Thor Industries, Inc.
253,728
20,064,810
Visteon Corp.
130,780
15,469,966
Winnebago Industries, Inc.
135,692
4,028,695
XPEL, Inc. *
120,120
5,491,886
 
290,753,785
 
Banks 7.5%
1st Source Corp.
88,213
6,511,884
Amalgamated Financial Corp.
100,926
4,186,410
Amerant Bancorp, Inc.
181,435
4,122,203
Ameris Bancorp
308,455
26,005,841
Arrow Financial Corp.
68,686
2,520,776
Associated Banc-Corp.
787,377
21,896,954
Atlantic Union Bankshares Corp.
681,619
25,642,507
Axos Financial, Inc. *
272,884
23,716,348
Banc of California, Inc.
647,612
12,447,103
BancFirst Corp.
99,727
10,998,891
Bancorp, Inc. *
202,913
11,192,681
Bank First Corp.
49,255
6,847,430
Bank of Hawaii Corp.
191,785
14,690,731
Bank of Marin Bancorp
76,581
1,978,853
Bank OZK
499,237
24,158,078
BankUnited, Inc.
356,120
16,520,407
Banner Corp.
163,623
10,635,495
Beacon Financial Corp.
401,367
11,675,766
Burke & Herbert Financial Services
Corp.
80,581
5,124,952
Business First Bancshares, Inc.
159,060
4,530,029
Byline Bancorp, Inc.
157,323
5,205,818
Camden National Corp.
80,561
4,030,467
Capital City Bank Group, Inc.
65,609
2,994,395
Capitol Federal Financial, Inc.
579,152
4,500,011
Cathay General Bancorp
322,697
18,606,709
Central BanCo, Inc. (a)
163,376
4,639,878
SECURITY
NUMBER
OF SHARES
VALUE ($)
Central Pacific Financial Corp.
127,890
4,394,300
Citizens Financial Services, Inc.
23,143
1,504,989
City Holding Co.
69,363
8,622,515
CNB Financial Corp.
138,635
4,251,935
Coastal Financial Corp. *
62,305
4,434,870
Columbia Banking System, Inc.
1,417,188
42,005,452
Columbia Financial, Inc. *
128,391
2,584,511
Community Financial System, Inc.
253,501
16,132,804
Community Trust Bancorp, Inc.
72,672
4,858,850
ConnectOne Bancorp, Inc.
240,384
7,228,347
Customers Bancorp, Inc. *
153,482
11,532,637
CVB Financial Corp.
800,633
16,300,888
Dime Community Bancshares, Inc.
195,113
7,301,128
Eagle Bancorp, Inc.
131,543
3,589,808
Eastern Bankshares, Inc.
1,039,091
20,501,265
Enterprise Financial Services Corp.
177,446
10,755,002
Equity Bancshares, Inc., Class A
73,762
3,400,428
Esquire Financial Holdings, Inc.
31,905
3,506,040
FB Financial Corp.
193,104
10,174,650
Financial Institutions, Inc.
94,033
3,406,816
First BanCorp
747,230
17,918,575
First Bancorp/Southern Pines NC
199,837
11,756,411
First Busey Corp.
419,481
11,481,195
First Commonwealth Financial Corp.
490,664
9,293,176
First Community Bankshares, Inc.
87,299
3,763,460
First Financial Bancorp
498,606
15,337,121
First Financial Bankshares, Inc.
625,444
20,439,510
First Financial Corp.
56,765
3,927,003
First Hawaiian, Inc.
589,692
15,909,890
First Interstate BancSystem, Inc.,
Class A
423,079
15,061,612
First Merchants Corp.
295,620
11,913,486
First Mid Bancshares, Inc.
105,922
4,665,864
Firstsun Capital Bancorp *
116,658
4,135,526
Five Star Bancorp
82,077
3,466,112
Flagstar Bank NA
1,437,215
20,207,243
Flushing Financial Corp.
159,860
2,552,964
FNB Corp.
1,718,704
30,042,946
Fulton Financial Corp.
920,546
19,966,643
GBank Financial Holdings, Inc. *
43,434
1,293,899
German American Bancorp, Inc.
179,604
7,852,287
Glacier Bancorp, Inc.
617,732
29,373,157
Great Southern Bancorp, Inc.
40,158
2,881,336
Hancock Whitney Corp.
395,111
26,914,961
Hanmi Financial Corp.
142,738
4,299,269
HBT Financial, Inc.
55,799
1,597,525
Heritage Financial Corp.
198,667
5,413,676
Hilltop Holdings, Inc.
200,357
7,557,466
Hingham Institution For Savings
9,233
2,671,938
Home BancShares, Inc.
879,035
23,522,977
HomeTrust Bancshares, Inc.
64,913
3,016,507
Hope Bancorp, Inc.
619,483
7,768,317
Horizon Bancorp, Inc.
242,894
4,505,684
Independent Bank Corp.
98,786
3,390,335
Independent Bank Corp.
237,968
18,818,509
International Bancshares Corp.
259,745
18,743,199
Kearny Financial Corp.
274,519
2,262,037
Lakeland Financial Corp.
121,469
7,364,665
Live Oak Bancshares, Inc.
171,622
6,526,785
Mechanics Bancorp, Class A
229,630
3,380,154
Mercantile Bank Corp.
83,451
4,422,068
  
55

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Metrocity Bankshares, Inc.
101,253
3,306,923
Metropolitan Bank Holding Corp.
53,306
4,771,953
Mid Penn Bancorp, Inc.
100,187
3,271,106
Midland States Bancorp, Inc.
103,191
2,868,710
National Bank Holdings Corp.,
Class A
215,826
9,028,002
NB Bancorp, Inc.
186,677
3,739,140
NBT Bancorp, Inc.
250,354
11,576,369
Nicolet Bankshares, Inc.
93,556
13,123,100
Northeast Bank
36,043
4,532,047
Northfield Bancorp, Inc.
172,161
2,441,243
Northpointe Bancshares, Inc.
49,469
844,930
Northwest Bancshares, Inc.
701,945
9,932,522
OceanFirst Financial Corp.
273,023
5,130,102
OFG Bancorp
207,728
9,464,088
Old National Bancorp
1,664,453
39,963,517
Old Second Bancorp, Inc.
255,554
5,448,411
Origin Bancorp, Inc.
139,848
6,665,156
Orrstown Financial Services, Inc.
93,118
3,457,471
Park National Corp.
77,098
13,226,933
Pathward Financial, Inc.
104,739
8,613,735
Peapack-Gladstone Financial Corp.
76,410
3,304,732
Peoples Bancorp, Inc.
167,111
5,812,121
Pinnacle Financial Partners, Inc.
723,607
70,725,348
Popular, Inc.
315,785
46,903,546
Preferred Bank
54,988
5,268,950
Prosperity Bancshares, Inc.
485,854
33,504,492
Provident Financial Services, Inc.
625,275
13,874,852
QCR Holdings, Inc.
80,270
7,396,880
Renasant Corp.
454,569
18,510,050
Republic Bancorp, Inc., Class A
45,787
3,706,458
S&T Bancorp, Inc.
179,912
8,112,232
Seacoast Banking Corp. of Florida
467,097
14,157,710
ServisFirst Bancshares, Inc.
241,337
18,821,873
Simmons First National Corp.,
Class A
696,511
14,940,161
SmartFinancial, Inc.
69,249
2,887,683
South Plains Financial, Inc.
58,369
2,369,198
Southern Missouri Bancorp, Inc.
45,435
3,137,741
Southside Bancshares, Inc.
134,397
4,402,846
Southstate Bank Corp.
476,643
45,161,924
Stellar Bancorp, Inc.
219,561
8,198,408
Stock Yards Bancorp, Inc.
131,162
9,409,562
Texas Capital Bancshares, Inc. *
211,810
21,072,977
TFS Financial Corp.
241,316
3,839,338
Tompkins Financial Corp.
60,879
5,244,726
Towne Bank
413,019
14,071,557
TriCo Bancshares
155,790
7,914,132
Triumph Financial, Inc. *
109,107
7,773,874
TrustCo Bank Corp.
85,723
4,441,309
Trustmark Corp.
284,362
12,557,426
UMB Financial Corp.
343,341
45,066,940
United Bankshares, Inc.
669,471
29,061,736
United Community Banks, Inc.
578,335
19,056,138
Univest Financial Corp.
137,279
5,414,284
Valley National Bancorp
2,303,291
31,716,317
WaFd, Inc.
363,019
12,908,956
Washington Trust Bancorp, Inc.
90,894
2,960,418
WesBanco, Inc.
462,011
16,008,681
Westamerica BanCorp
119,123
6,610,135
Wintrust Financial Corp.
321,674
48,325,085
WSFS Financial Corp.
256,638
18,336,785
 
1,701,676,379
 
Capital Goods 13.4%
3D Systems Corp. *
692,433
2,471,986
AAON, Inc.
325,324
45,610,425
AAR Corp. *
187,424
21,107,691
SECURITY
NUMBER
OF SHARES
VALUE ($)
AirJoule Technologies Corp. *
154,295
692,785
AIRO Group Holdings, Inc. *(a)
49,077
440,711
Alamo Group, Inc.
51,589
7,774,978
Albany International Corp., Class A
137,955
8,924,309
Alliance Laundry Holdings, Inc. *
182,432
4,606,408
Allient, Inc.
71,125
5,630,255
Allison Transmission Holdings, Inc.
399,776
45,386,569
Ameresco, Inc., Class A *
145,856
5,247,899
American Superconductor Corp. *
228,581
11,643,916
Amprius Technologies, Inc. *
626,117
12,697,653
Apogee Enterprises, Inc.
102,447
3,934,989
Applied Industrial Technologies, Inc.
179,021
54,388,370
Archer Aviation, Inc., Class A *
2,960,916
20,163,838
Arcosa, Inc.
235,892
29,899,311
Argan, Inc.
66,649
44,456,216
Armstrong World Industries, Inc.
207,477
32,760,618
Array Technologies, Inc. *
729,984
6,628,255
Astec Industries, Inc.
109,001
5,489,290
Astronics Corp. *
151,638
13,192,506
ATI, Inc. *
652,804
114,345,149
Atkore, Inc.
161,971
13,412,819
Atmus Filtration Technologies, Inc.
392,226
18,348,332
AZZ, Inc.
143,442
19,437,825
Beta Technologies, Inc., Class A *
146,036
2,678,300
Blue Bird Corp. *
151,482
10,265,935
BlueLinx Holdings, Inc. *
37,623
1,956,020
Boise Cascade Co.
177,272
12,359,404
Bowman Consulting Group Ltd. *
68,061
2,145,963
Cadre Holdings, Inc.
137,817
4,291,621
CECO Environmental Corp. *(a)
145,715
10,892,196
Centuri Holdings, Inc. *
400,242
12,303,439
ChargePoint Holdings, Inc. *(a)
104,175
790,688
Chart Industries, Inc. *
216,101
44,910,110
Columbus McKinnon Corp.
137,211
2,189,888
Construction Partners, Inc., Class A *
230,120
26,802,076
CSW Industrials, Inc.
79,137
21,918,575
Custom Truck One Source, Inc. *
288,969
2,768,323
Distribution Solutions Group, Inc. *
30,793
831,411
DNOW, Inc. *
890,409
11,388,331
Douglas Dynamics, Inc.
109,789
4,891,100
Ducommun, Inc. *
66,442
10,113,801
DXP Enterprises, Inc. *
60,825
8,823,275
Dycom Industries, Inc. *
143,849
73,362,990
Energy Recovery, Inc. *
253,715
2,072,852
Energy Vault Holdings, Inc. *
555,555
2,805,553
Enerpac Tool Group Corp.
253,508
8,489,983
EnerSys
177,043
40,360,493
Enovix Corp. *(a)
937,569
7,481,801
Enpro, Inc.
101,203
31,068,309
Eos Energy Enterprises, Inc. *(a)
1,554,097
13,101,038
EquipmentShare.com, Inc.,
Class A *(a)
141,550
2,949,902
Esab Corp.
274,490
25,371,111
ESCO Technologies, Inc.
124,445
36,325,496
Eve Holding, Inc. *
480,100
1,656,345
Everus Construction Group, Inc. *
245,345
36,499,976
Federal Signal Corp.
291,593
31,112,973
Firefly Aerospace, Inc. *
128,732
5,984,751
Flowserve Corp.
610,408
46,091,908
Fluence Energy, Inc. *
405,956
7,664,449
Fluor Corp. *
774,353
35,434,393
Forgent Power Solutions, Inc. *
425,473
23,256,354
Franklin Electric Co., Inc.
183,979
18,099,854
Gates Industrial Corp. PLC *
1,218,283
31,577,895
GATX Corp.
171,411
28,982,172
Gibraltar Industries, Inc. *
143,454
5,544,497
Global Industrial Co.
66,292
2,015,277
Gorman-Rupp Co.
99,205
7,435,415
Graham Corp. *
50,258
5,032,836
56
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Granite Construction, Inc.
208,807
28,573,150
Greenbrier Cos., Inc.
148,971
7,018,024
Griffon Corp.
188,425
16,577,632
Hayward Holdings, Inc. *
954,719
13,471,085
Helios Technologies, Inc.
159,729
13,271,883
Herc Holdings, Inc.
147,424
19,607,392
Hexcel Corp.
364,064
32,689,307
Hillman Solutions Corp. *
942,940
7,034,332
Hyliion Holdings Corp. *
605,056
4,229,341
Hyster-Yale, Inc.
54,662
1,985,324
IES Holdings, Inc. *
42,045
28,521,226
Insteel Industries, Inc.
92,511
2,543,127
Intuitive Machines, Inc. *
539,003
23,624,502
Janus International Group, Inc. *
662,219
3,536,249
JBT Marel Corp.
249,331
33,507,593
JELD-WEN Holding, Inc. *
406,099
877,174
Kadant, Inc.
56,632
18,075,802
Karman Holdings, Inc. *
387,632
22,288,840
Kennametal, Inc.
367,081
12,040,257
Legence Corp., Class A *
230,852
19,331,546
Limbach Holdings, Inc. *
53,106
4,113,060
Lindsay Corp.
50,682
5,539,036
Loar Holdings, Inc. *
170,346
10,983,910
LSI Industries, Inc.
148,074
3,587,833
Madison Air Solutions Corp.,
Class A *(a)
394,995
17,170,433
Manitowoc Co., Inc. *
169,821
2,008,982
Masterbrand, Inc. *
964,848
8,374,881
McGrath RentCorp
118,656
12,932,317
Mercury Systems, Inc. *
253,586
28,325,556
Microvast Holdings, Inc. *
946,044
1,466,368
Miller Industries, Inc.
54,323
2,602,615
Modine Manufacturing Co. *
253,285
70,643,719
Moog, Inc., Class A
136,507
49,138,425
MSC Industrial Direct Co., Inc.,
Class A
219,478
24,026,257
Mueller Industries, Inc.
533,565
68,616,459
Mueller Water Products, Inc., Class A
749,782
18,902,004
MYR Group, Inc. *
74,453
34,625,112
NANO Nuclear Energy, Inc. *(a)
181,182
5,232,536
National Presto Industries, Inc.
25,492
3,226,522
Net Power, Inc. *
181,262
364,337
Nextpower, Inc., Class A *
713,305
111,560,902
NPK International, Inc. *
403,287
5,855,727
NuScale Power Corp. *
735,438
9,317,999
Omega Flex, Inc.
16,926
511,673
Oshkosh Corp.
303,532
39,459,160
Plug Power, Inc. *
6,682,099
26,394,291
Powell Industries, Inc.
136,508
38,825,605
Power Solutions International, Inc. *
31,937
1,331,134
Preformed Line Products Co.
12,630
4,670,827
Primoris Services Corp.
259,566
32,648,211
Proto Labs, Inc. *
114,290
8,658,610
Quanex Building Products Corp.
222,744
4,145,266
Red Cat Holdings, Inc. *(a)
618,364
8,966,278
Redwire Corp. *
375,863
9,234,954
Resideo Technologies, Inc. *
663,283
20,740,859
Rush Enterprises, Inc., Class A
328,284
22,759,930
Sensata Technologies Holding PLC
699,326
34,539,711
SES AI Corp. *(a)
1,252,958
1,641,375
Shoals Technologies Group, Inc.,
Class A *
799,487
9,953,613
Simpson Manufacturing Co., Inc.
199,375
37,829,413
SiteOne Landscape Supply, Inc. *
213,386
23,173,720
Solv Energy, Inc., Class A *
116,429
4,136,722
Southland Holdings, Inc. *
70,534
86,051
SPX Technologies, Inc. *
239,350
51,857,571
Standex International Corp.
58,417
16,182,093
Sterling Infrastructure, Inc. *
147,543
127,010,916
SECURITY
NUMBER
OF SHARES
VALUE ($)
Sunrun, Inc. *
1,117,879
18,690,937
Symbotic, Inc. *
284,848
13,224,068
Tecnoglass, Inc.
125,465
5,406,287
Tennant Co.
87,401
7,526,100
Terex Corp.
546,979
31,823,238
Terrestrial Energy, Inc. *
251,829
2,299,199
Thermon Group Holdings, Inc. *
157,561
9,633,280
Timken Co.
304,753
39,002,289
Titan International, Inc. *
227,761
1,644,434
Titan Machinery, Inc. *
96,264
2,100,480
Transcat, Inc. *
44,499
3,761,055
Trinity Industries, Inc.
384,091
12,459,912
Tutor Perini Corp.
213,394
15,255,537
UFP Industries, Inc.
279,219
22,616,739
V2X, Inc. *
98,174
8,161,205
Valmont Industries, Inc.
94,596
49,171,947
Vicor Corp. *
109,244
36,579,261
Virgin Galactic Holdings, Inc. *(a)
348,387
2,153,032
Voyager Technologies, Inc., Class A *
63,140
3,127,324
VSE Corp.
138,052
25,560,328
Wabash National Corp.
193,967
1,538,158
Watts Water Technologies, Inc.,
Class A
131,693
40,690,503
Willis Lease Finance Corp.
14,877
2,633,378
WillScot Holdings Corp.
873,887
22,485,113
Worthington Enterprises, Inc.
149,882
8,508,801
Xometry, Inc., Class A *
210,540
20,062,357
York Space Systems, Inc. *(a)
90,419
2,951,276
Zurn Elkay Water Solutions Corp.
713,319
33,525,993
 
3,045,561,172
 
Commercial & Professional Services 2.8%
ABM Industries, Inc.
280,999
10,975,821
ACCO Brands Corp.
430,423
1,704,475
ACV Auctions, Inc., Class A *
820,847
5,392,965
Alight, Inc., Class A
2,207,486
2,080,114
Amentum Holdings, Inc. *
738,476
17,154,797
Barrett Business Services, Inc.
123,100
4,005,674
BlackSky Technology, Inc. *
147,974
7,172,300
Brady Corp., Class A
209,819
18,061,220
BrightView Holdings, Inc. *
334,616
4,135,854
Brink's Co.
199,398
20,741,380
Casella Waste Systems, Inc.,
Class A *
299,620
24,619,775
CBIZ, Inc. *
236,106
7,838,719
Cimpress PLC *
70,438
6,942,369
Clarivate PLC *
2,139,661
5,413,342
Concentrix Corp.
212,272
6,005,175
Conduent, Inc. *
755,495
1,307,006
CoreCivic, Inc. *
480,645
10,131,997
CRA International, Inc.
31,781
4,409,614
Deluxe Corp.
214,028
5,198,740
Ennis, Inc.
121,574
2,487,404
Enviri Corp. *
385,135
7,991,551
ExlService Holdings, Inc. *
753,460
21,872,944
Exponent, Inc.
240,575
14,030,334
First Advantage Corp. *
381,589
6,105,424
Forrester Research, Inc. *
57,857
407,892
Franklin Covey Co. *
45,600
1,081,632
FTI Consulting, Inc. *
145,158
22,235,302
GEO Group, Inc. *
657,952
14,915,772
Healthcare Services Group, Inc. *
339,707
6,997,964
HNI Corp.
331,802
10,348,904
Huron Consulting Group, Inc. *
76,502
8,215,550
ICF International, Inc.
88,046
6,061,087
Innodata, Inc. *
152,593
16,019,213
Insperity, Inc.
170,864
5,889,682
Interface, Inc.
278,662
8,248,395
  
57

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Kelly Services, Inc., Class A
151,224
1,757,223
Kforce, Inc.
78,938
3,709,297
Korn Ferry
251,111
17,572,748
Legalzoom.com, Inc. *
546,519
3,437,604
Liquidity Services, Inc. *
113,927
4,125,297
ManpowerGroup, Inc.
220,696
6,980,614
Maximus, Inc.
262,625
16,264,366
Millerknoll, Inc.
331,402
5,362,084
MSA Safety, Inc.
174,964
29,009,031
Onterris, Inc. *
157,183
2,516,500
OPENLANE, Inc. *
510,963
19,467,690
Pitney Bowes, Inc.
709,468
11,422,435
Planet Labs PBC *
1,342,326
68,646,552
Resources Connection, Inc.
154,765
699,538
Robert Half, Inc.
475,668
14,003,666
Science Applications International
Corp.
216,732
22,583,474
TaskUS, Inc., Class A
80,032
506,603
TIC Solutions, Inc. *
867,521
7,087,647
TriNet Group, Inc.
141,915
6,482,677
TrueBlue, Inc. *(b)
146,303
908,542
TTEC Holdings, Inc. *
96,448
262,339
UL Solutions, Inc., Class A
370,623
36,876,988
UniFirst Corp.
69,838
18,536,402
Upwork, Inc. *
624,569
5,508,699
Verra Mobility Corp. *
762,325
3,438,086
Vestis Corp. *
536,822
6,935,740
Willdan Group, Inc. *
66,732
6,061,935
 
636,364,164
 
Consumer Discretionary Distribution & Retail 2.4%
1-800-Flowers.com, Inc., Class A *(a)
128,351
586,564
Abercrombie & Fitch Co., Class A *
220,563
17,031,875
Academy Sports & Outdoors, Inc.
320,769
16,936,603
Advance Auto Parts, Inc.
289,022
17,410,685
American Eagle Outfitters, Inc.
754,698
11,924,228
America's Car-Mart, Inc. *
37,896
465,742
Arhaus, Inc.
257,799
1,745,299
Arko Corp.
379,686
2,946,363
Asbury Automotive Group, Inc. *
93,681
17,584,861
AutoNation, Inc. *
125,246
23,511,179
BARK, Inc. *
29,305
295,687
Bed Bath & Beyond, Inc. *
349,191
2,140,541
Bob's Discount Furniture, Inc. *
92,733
1,261,169
Boot Barn Holdings, Inc. *
145,937
24,790,318
Buckle, Inc.
143,818
6,596,932
Build-A-Bear Workshop, Inc.
55,888
2,079,593
Caleres, Inc.
161,759
2,355,211
Camping World Holdings, Inc.,
Class A
298,094
2,185,029
Chewy, Inc., Class A *
1,145,674
25,823,492
Designer Brands, Inc., Class A
166,368
1,284,361
Dillard's, Inc., Class A
14,568
8,598,179
Five Below, Inc. *
265,129
60,279,729
Gap, Inc.
1,091,020
23,075,073
Genesco, Inc. *
47,053
1,805,424
GigaCloud Technology, Inc., Class A *
122,551
4,416,738
Gold.com, Inc.
96,287
4,073,903
Group 1 Automotive, Inc.
56,688
17,932,682
Groupon, Inc. *(a)
136,706
2,765,562
Haverty Furniture Cos., Inc.
66,554
1,543,387
Kohl's Corp.
538,619
7,734,569
Lands' End, Inc. *
51,064
600,002
Macy's, Inc.
1,278,996
27,830,953
MarineMax, Inc. *
94,072
3,239,840
Monro, Inc. (a)
142,551
2,344,964
National Vision Holdings, Inc. *
378,445
6,338,954
Ollie's Bargain Outlet Holdings, Inc. *
295,215
24,098,400
SECURITY
NUMBER
OF SHARES
VALUE ($)
Outdoor Holding Co. *
510,060
1,050,724
Pattern Group, Inc., Class A *
102,676
1,929,282
Petco Health & Wellness Co., Inc. *
435,884
1,312,011
RealReal, Inc. *
469,740
4,528,294
Revolve Group, Inc. *
192,672
3,776,371
RH *
74,090
11,001,624
Sally Beauty Holdings, Inc. *
467,153
6,203,792
Savers Value Village, Inc. *
177,972
1,592,849
Shoe Carnival, Inc.
84,003
1,486,853
Signet Jewelers Ltd.
195,816
17,112,360
Sleep Number Corp. *(a)
108,999
129,709
Sonic Automotive, Inc., Class A
70,953
5,862,137
Stitch Fix, Inc., Class A *
564,948
2,011,215
ThredUp, Inc., Class A *
468,414
2,178,125
Torrid Holdings, Inc. *(a)
100,688
161,101
Upbound Group, Inc.
248,923
4,781,811
Urban Outfitters, Inc. *
258,725
18,796,371
Valvoline, Inc. *
611,065
20,623,444
Victoria's Secret & Co. *
385,666
21,211,630
Warby Parker, Inc., Class A *
477,032
11,696,825
Wayfair, Inc., Class A *
513,777
37,125,526
Winmark Corp.
14,340
5,428,694
Zumiez, Inc. *
62,953
1,550,532
 
557,185,371
 
Consumer Durables & Apparel 2.3%
Acushnet Holdings Corp.
132,237
11,740,001
Beazer Homes USA, Inc. *
130,989
3,325,811
Brunswick Corp.
312,705
26,192,171
Callaway Golf Co. *
673,059
10,365,109
Capri Holdings Ltd. *
575,301
10,648,821
Carter's, Inc.
176,581
6,814,261
Cavco Industries, Inc. *
37,235
19,977,322
Century Communities, Inc.
121,395
6,412,084
Champion Homes, Inc. *
265,518
19,550,090
Columbia Sportswear Co.
121,889
8,066,614
Crocs, Inc. *
240,851
28,581,788
Dream Finders Homes, Inc.,
Class A *
137,295
2,122,581
Ethan Allen Interiors, Inc.
110,802
2,284,737
Figs, Inc., Class A *
749,189
8,810,463
Funko, Inc., Class A *
196,435
1,115,751
G-III Apparel Group Ltd.
179,233
5,794,603
GoPro, Inc., Class A *(a)
627,253
784,066
Green Brick Partners, Inc. *
146,639
9,862,939
Helen of Troy Ltd. *
109,892
2,982,469
Hovnanian Enterprises, Inc.,
Class A *
22,683
2,503,296
Installed Building Products, Inc.
108,831
22,852,333
Johnson Outdoors, Inc., Class A
28,540
1,277,450
KB Home
303,807
14,844,010
Kontoor Brands, Inc.
246,099
17,662,525
Latham Group, Inc. *
223,233
1,178,670
La-Z-Boy, Inc.
199,132
7,483,381
Legacy Housing Corp. *
42,954
1,031,325
Leggett & Platt, Inc.
655,837
6,735,446
Levi Strauss & Co., Class A (a)
469,278
10,887,250
LGI Homes, Inc. *
96,929
4,634,175
M/I Homes, Inc. *
125,768
16,553,584
Malibu Boats, Inc., Class A *
91,436
2,510,833
Mattel, Inc. *
1,490,323
22,265,426
Meritage Homes Corp.
320,389
20,902,178
Movado Group, Inc.
74,476
2,850,941
Newell Brands, Inc.
2,029,845
6,901,473
Oxford Industries, Inc.
66,890
2,984,632
Peloton Interactive, Inc., Class A *
1,968,359
12,597,498
Polaris, Inc.
256,989
18,135,714
Purple Innovation, Inc. *
280,921
112,734
58
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
PVH Corp.
219,944
20,516,376
Smith & Wesson Brands, Inc.
211,073
3,212,531
Sonos, Inc. *
578,946
9,135,768
Steven Madden Ltd.
349,711
15,191,446
Sturm Ruger & Co., Inc.
77,048
3,011,806
Taylor Morrison Home Corp. *
468,640
27,415,440
Traeger, Inc. *
6,338
440,871
Under Armour, Inc., Class A *
1,468,628
8,620,846
VF Corp.
1,578,418
27,117,221
Whirlpool Corp. (a)
305,854
13,280,181
Wolverine World Wide, Inc.
395,716
6,944,816
YETI Holdings, Inc. *
372,578
17,872,567
 
535,096,424
 
Consumer Services 3.1%
Accel Entertainment, Inc. *
282,476
3,358,640
Bally's Corp. *(a)
34,033
482,588
Biglari Holdings, Inc., Class B *
4,427
1,285,955
BJ's Restaurants, Inc. *
102,814
4,837,399
Black Rock Coffee Bar, Inc., Class A *
78,859
656,107
Bloomin' Brands, Inc.
362,594
3,060,293
Boyd Gaming Corp.
277,281
22,925,593
Bright Horizons Family Solutions,
Inc. *
271,645
17,010,410
Brinker International, Inc. *
209,272
29,796,147
Caesars Entertainment, Inc. *
981,288
28,506,416
Carriage Services, Inc.
75,078
3,092,463
Cheesecake Factory, Inc.
219,499
14,495,714
Chegg, Inc. *
573,304
751,028
Choice Hotels International, Inc. (a)
99,688
10,854,029
Coursera, Inc. *
1,046,232
5,639,191
Covista, Inc. *
165,793
19,530,415
Cracker Barrel Old Country Store,
Inc.
106,306
3,595,269
Dave & Buster's Entertainment, Inc. *
129,186
1,727,217
Dine Brands Global, Inc.
68,415
2,146,863
Driven Brands Holdings, Inc. *
282,236
3,906,146
Dutch Bros, Inc., Class A *
609,407
35,345,606
El Pollo Loco Holdings, Inc. *
124,951
1,858,021
First Watch Restaurant Group, Inc. *
218,011
2,535,468
Frontdoor, Inc. *
346,185
21,487,703
Global Business Travel Group I *
582,749
5,442,876
Graham Holdings Co., Class B
16,276
17,859,492
Grand Canyon Education, Inc. *
132,655
19,878,352
H&R Block, Inc.
608,117
23,406,423
Hilton Grand Vacations, Inc. *
286,709
14,914,602
Hyatt Hotels Corp., Class A
198,372
35,976,746
Jack in the Box, Inc. *(a)
90,510
1,126,850
KinderCare Learning Cos., Inc. *
150,352
577,352
Krispy Kreme, Inc. *
450,758
1,586,668
Kura Sushi USA, Inc., Class A *
30,312
1,703,231
Laureate Education, Inc. *
642,765
20,562,052
Liberty Live Holdings, Inc., Class C *
336,440
33,341,204
Life Time Group Holdings, Inc. *
730,303
24,158,423
Lincoln Educational Services Corp. *
142,206
6,586,982
Lindblad Expeditions Holdings, Inc. *
211,189
4,846,788
Lucky Strike Entertainment Corp.,
Class A (a)
73,334
600,605
Marriott Vacations Worldwide Corp.
133,320
11,316,202
Matthews International Corp.,
Class A
150,651
3,998,278
McGraw Hill, Inc. *
117,734
1,417,517
Monarch Casino & Resort, Inc.
58,421
7,025,710
Navan, Inc., Class A *
176,749
3,777,126
OneSpaWorld Holdings Ltd.
488,053
11,591,259
Papa John's International, Inc. (a)
156,584
5,356,739
Penn Entertainment, Inc. *
611,529
11,515,091
Perdoceo Education Corp.
290,524
9,407,167
SECURITY
NUMBER
OF SHARES
VALUE ($)
Phoenix Education Partners, Inc. (a)
20,326
614,658
Planet Fitness, Inc., Class A *
399,550
21,379,921
Portillo's, Inc., Class A *
341,671
1,465,769
Pursuit Attractions & Hospitality,
Inc. *
102,298
4,579,881
RCI Hospitality Holdings, Inc.
32,419
822,470
Red Rock Resorts, Inc., Class A
232,232
13,557,704
Rush Street Interactive, Inc. *
510,735
12,942,025
Sabre Corp. *
1,888,004
3,322,887
Serve Robotics, Inc. *(a)
282,578
2,642,104
Shake Shack, Inc., Class A *
194,128
12,484,372
SHARPLINK, Inc. *
949,243
5,799,875
Six Flags Entertainment Corp. *
487,401
10,240,295
Strategic Education, Inc.
111,593
8,564,763
Stride, Inc. *
201,973
18,658,266
Sweetgreen, Inc., Class A *
506,939
5,049,112
Target Hospitality Corp. *
152,879
2,653,979
Travel & Leisure Co.
308,344
20,967,392
United Parks & Resorts, Inc. *
131,426
5,274,125
Universal Technical Institute, Inc. *
244,601
9,150,523
Vail Resorts, Inc. (a)
171,792
22,951,411
Venu Holding Corp. *(a)
147,629
546,227
Wendy's Co.
753,575
5,802,528
Xponential Fitness, Inc., Class A *
130,868
718,465
 
707,047,168
 
Consumer Staples Distribution & Retail 0.3%
Andersons, Inc.
160,975
11,363,225
Chefs' Warehouse, Inc. *
173,512
13,280,609
Grocery Outlet Holding Corp. *
468,296
3,985,199
Ingles Markets, Inc., Class A
64,600
5,714,516
Natural Grocers by Vitamin Cottage,
Inc.
50,242
1,475,105
PriceSmart, Inc.
121,167
20,597,178
United Natural Foods, Inc. *
293,699
15,081,444
Weis Markets, Inc.
44,952
3,280,147
 
74,777,423
 
Energy 4.5%
Antero Midstream Corp.
1,592,529
33,379,408
Archrock, Inc.
841,261
28,173,831
Atlas Energy Solutions, Inc.
367,726
6,137,347
BKV Corp. *
174,219
4,623,772
Bristow Group, Inc.
120,150
5,003,046
Cactus, Inc., Class A
330,864
19,203,347
California Resources Corp.
377,751
22,396,857
Calumet, Inc. *
306,879
10,884,998
Centrus Energy Corp., Class A *(a)
91,312
16,661,701
Chord Energy Corp.
272,914
35,989,169
Clean Energy Fuels Corp. *
823,762
1,680,474
CNX Resources Corp. *
684,406
23,057,638
Comstock Resources, Inc. *
378,277
5,042,432
Core Laboratories, Inc.
220,863
3,019,197
Core Natural Resources, Inc.
245,669
21,726,966
Crescent Energy Co., Class A
1,166,531
13,485,098
CVR Energy, Inc.
144,040
4,785,009
Delek U.S. Holdings, Inc.
288,006
12,819,147
Diversified Energy Co. (a)
302,851
4,406,482
DMC Global, Inc. *
85,175
580,042
Dorian LPG Ltd.
175,472
7,057,484
Excelerate Energy, Inc., Class A
114,100
3,758,454
Expro Group Holdings NV *
485,597
7,172,268
Flowco Holdings, Inc., Class A
144,224
3,373,399
Granite Ridge Resources, Inc.
305,448
1,484,477
Green Plains, Inc. *
338,260
5,300,534
Gulfport Energy Corp. *
74,989
12,642,396
Helix Energy Solutions Group, Inc. *
661,499
6,185,016
  
59

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Helmerich & Payne, Inc.
480,002
18,312,076
HighPeak Energy, Inc. (a)
114,795
815,045
Innovex International, Inc. *
184,227
4,920,703
International Seaways, Inc.
195,193
15,066,948
Kinetik Holdings, Inc.
218,286
10,030,242
Kodiak Gas Services, Inc.
448,935
30,011,305
Kosmos Energy Ltd. *
2,773,250
7,765,100
Liberty Energy, Inc.
780,045
22,824,117
Magnolia Oil & Gas Corp., Class A
868,100
23,751,216
Matador Resources Co.
561,947
30,120,359
Murphy Oil Corp.
644,799
23,335,276
Nabors Industries Ltd. *
70,373
6,518,651
New Fortress Energy, Inc. *
564,256
316,435
NextDecade Corp. *
677,140
5,356,177
Noble Corp. PLC
603,651
28,057,699
Northern Oil & Gas, Inc.
500,386
10,893,403
NOV, Inc.
1,730,809
34,546,948
Oceaneering International, Inc. *
479,828
18,343,824
Par Pacific Holdings, Inc. *
242,679
13,628,853
Patterson-UTI Energy, Inc.
1,656,601
18,570,497
PBF Energy, Inc., Class A
399,215
16,248,051
Peabody Energy Corp.
585,860
15,847,513
ProFrac Holding Corp., Class A *
111,078
678,687
ProPetro Holding Corp. *
459,486
7,011,756
REX American Resources Corp. *
135,182
6,321,110
Riley Exploration Permian, Inc.
47,730
1,587,500
RPC, Inc.
431,754
2,858,211
Sable Offshore Corp. *
592,173
8,675,334
SandRidge Energy, Inc.
151,092
2,216,520
Seadrill Ltd. *
298,709
14,090,104
Select Water Solutions, Inc.
543,811
9,750,531
SM Energy Co.
1,085,913
33,348,388
Solaris Energy Infrastructure, Inc.
219,673
15,276,060
Talos Energy, Inc. *
604,244
8,864,259
TETRA Technologies, Inc. *
637,971
6,526,443
Tidewater, Inc. *
221,582
16,284,061
Transocean Ltd. *
4,757,558
29,449,284
Uranium Energy Corp. *
2,319,709
31,942,393
VAALCO Energy, Inc.
496,415
2,591,286
Valaris Ltd. *
309,035
28,625,912
Venture Global, Inc., Class A
2,301,379
27,708,603
Viper Energy, Inc., Class A
893,738
40,665,079
Vitesse Energy, Inc.
134,392
2,322,294
Weatherford International PLC
344,673
35,721,910
World Kinect Corp.
268,186
7,726,439
 
1,015,552,591
 
Equity Real Estate Investment Trusts (REITs) 5.0%
Acadia Realty Trust
630,622
13,886,296
Agree Realty Corp.
576,316
42,733,831
AH Realty Trust, Inc.
382,880
2,607,413
Alexander's, Inc.
10,413
2,562,743
American Assets Trust, Inc.
228,235
5,317,876
American Healthcare REIT, Inc.
853,170
41,711,481
Americold Realty Trust, Inc.
1,368,654
21,474,181
Apple Hospitality REIT, Inc.
1,059,288
15,560,941
Brandywine Realty Trust
831,273
2,576,946
Brixmor Property Group, Inc.
1,473,889
45,042,048
Broadstone Net Lease, Inc.
907,530
18,359,332
CareTrust REIT, Inc.
1,074,010
43,841,088
CBL & Associates Properties, Inc.
74,325
3,574,289
Centerspace
79,860
5,388,953
Chatham Lodging Trust
237,109
2,572,633
Community Healthcare Trust, Inc.
126,410
2,176,780
COPT Defense Properties
542,405
17,389,504
Cousins Properties, Inc.
805,881
21,605,670
Curbline Properties Corp.
464,373
13,527,186
DiamondRock Hospitality Co.
975,457
10,720,272
SECURITY
NUMBER
OF SHARES
VALUE ($)
Diversified Healthcare Trust
1,048,006
8,719,410
Douglas Emmett, Inc.
804,384
9,363,030
Easterly Government Properties, Inc.
210,542
5,048,797
Empire State Realty Trust, Inc.,
Class A
668,474
3,830,356
EPR Properties
365,678
20,861,930
Essential Properties Realty Trust, Inc.
1,009,935
30,883,812
First Industrial Realty Trust, Inc.
636,482
39,379,141
Four Corners Property Trust, Inc.
527,068
13,123,993
Franklin Street Properties Corp.,
Class A
397,472
209,587
Getty Realty Corp.
263,853
8,583,138
Gladstone Commercial Corp.
231,532
2,919,619
Global Net Lease, Inc.
944,202
8,847,173
Healthcare Realty Trust, Inc.
1,672,917
33,324,507
Highwoods Properties, Inc.
526,908
13,752,299
Hudson Pacific Properties, Inc. *
257,648
3,086,623
Independence Realty Trust, Inc.
1,136,763
18,449,664
Industrial Logistics Properties Trust
285,780
2,563,447
Innovative Industrial Properties, Inc.
133,700
7,753,263
InvenTrust Properties Corp.
372,555
12,342,747
JBG SMITH Properties
280,773
4,118,940
Kilroy Realty Corp.
524,494
17,974,409
Kite Realty Group Trust
1,041,234
28,550,636
LTC Properties, Inc.
227,863
8,524,355
LXP Industrial Trust
284,283
14,680,374
Macerich Co.
1,323,381
29,802,540
Medical Properties Trust, Inc.
2,362,564
12,072,702
Millrose Properties, Inc.
742,657
20,957,781
National Health Investors, Inc.
228,726
16,763,329
National Storage Affiliates Trust
340,978
14,542,712
NETSTREIT Corp.
465,210
9,425,155
NexPoint Diversified Real Estate
Trust
202,497
1,081,334
NexPoint Residential Trust, Inc.
104,541
3,037,961
One Liberty Properties, Inc.
76,990
1,813,115
Orion Properties, Inc.
260,693
776,865
Outfront Media, Inc.
697,876
22,499,522
Park Hotels & Resorts, Inc.
959,162
11,634,635
Pebblebrook Hotel Trust
545,133
8,313,278
Phillips Edison & Co., Inc.
604,734
24,280,070
Piedmont Realty Trust, Inc., Class A *
605,094
5,028,331
Rayonier, Inc.
1,337,185
27,933,795
RLJ Lodging Trust
712,795
6,935,495
Ryman Hospitality Properties, Inc.
302,357
34,810,361
Sabra Health Care REIT, Inc.
1,208,488
24,036,826
Safehold, Inc.
218,584
3,272,203
Saul Centers, Inc.
59,065
2,047,193
Service Properties Trust
2,723,806
4,875,613
Sila Realty Trust, Inc.
263,700
7,974,288
SITE Centers Corp.
251,134
1,268,227
SL Green Realty Corp.
341,633
15,510,138
Smartstop Self Storage REIT, Inc.
265,541
8,298,156
STAG Industrial, Inc.
917,943
34,762,501
Summit Hotel Properties, Inc.
502,206
2,897,729
Sunstone Hotel Investors, Inc.
916,403
9,915,480
Tanger, Inc.
552,259
19,919,982
Terreno Realty Corp.
500,057
32,848,744
UMH Properties, Inc.
386,401
5,803,743
Universal Health Realty Income Trust
61,054
2,530,688
Urban Edge Properties
607,043
13,622,045
Vornado Realty Trust
767,736
25,911,090
Whitestone REIT
214,866
4,099,643
Xenia Hotels & Resorts, Inc.
456,923
7,936,753
 
1,128,760,736
 
60
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Financial Services 5.6%
Acadian Asset Management, Inc.
126,619
9,155,820
Adamas Trust, Inc.
399,546
3,675,823
Affiliated Managers Group, Inc.
134,962
40,873,242
AI Financial Corp. *
600,365
510,911
Alerus Financial Corp.
121,555
3,474,042
AlTi Global, Inc. *
212,271
700,494
Apollo Commercial Real Estate
Finance, Inc.
631,728
6,923,739
Arbor Realty Trust, Inc. (a)
943,068
5,422,641
ARMOUR Residential REIT, Inc.
537,696
9,221,486
Artisan Partners Asset Management,
Inc., Class A
339,555
12,712,939
Atlanticus Holdings Corp. *
26,767
2,307,851
BGC Group, Inc., Class A
1,744,503
18,230,056
Bitgo Holdings, Inc., Class A *(a)
55,326
332,509
Blackstone Mortgage Trust, Inc.,
Class A
764,699
13,978,698
BRC Group Holdings, Inc. *
87,273
814,257
Bread Financial Holdings, Inc. (a)
212,174
18,898,338
BrightSpire Capital, Inc.
617,229
3,561,411
Cannae Holdings, Inc.
210,439
3,120,810
Cass Information Systems, Inc.
54,227
2,496,069
Chime Financial, Inc., Class A *
161,609
3,005,927
Chimera Investment Corp.
400,249
5,451,391
Claros Mortgage Trust, Inc. *
617,368
1,500,204
Cohen & Steers, Inc.
132,934
9,278,793
Credit Acceptance Corp. *
28,664
16,442,817
Dave, Inc. *
53,418
15,093,790
DigitalBridge Group, Inc.
795,380
12,439,743
Donnelley Financial Solutions, Inc. *
126,150
5,006,894
Dynex Capital, Inc.
962,005
12,592,645
Ellington Financial, Inc.
598,860
8,126,530
Enact Holdings, Inc.
139,362
5,823,938
Encore Capital Group, Inc. *
107,152
8,564,659
Enova International, Inc. *
118,900
19,203,539
Essent Group Ltd.
458,436
26,538,860
Euronet Worldwide, Inc. *
187,372
13,580,723
EVERTEC, Inc.
305,689
7,480,210
EZCORP, Inc., Class A *
283,433
8,854,447
Federal Agricultural Mortgage Corp.,
Class C
47,567
8,456,937
Federated Hermes, Inc.
355,075
19,905,505
Figure Technology Solutions, Inc.,
Class A *
152,040
5,374,614
FirstCash Holdings, Inc.
186,087
40,922,392
Flywire Corp. *
523,147
8,391,278
Franklin BSP Realty Trust, Inc.
392,585
3,403,712
Galaxy Digital, Inc., Class A *
926,857
27,416,430
GCM Grosvenor, Inc., Class A
297,293
3,160,225
Gemini Space Station, Inc.,
Class A *(a)
70,620
372,167
Granite Point Mortgage Trust, Inc.
265,159
387,132
Green Dot Corp., Class A *
242,733
3,123,974
HA Sustainable Infrastructure
Capital, Inc.
611,870
25,086,670
Hamilton Lane, Inc., Class A
196,586
17,128,538
Innventure, Inc. *(a)
223,004
1,188,611
International Money Express, Inc. *
141,079
2,111,953
Invesco Mortgage Capital, Inc.
348,962
2,746,331
Jackson Financial, Inc., Class A
340,063
35,063,896
Janus Henderson Group PLC
591,878
30,606,011
Jefferson Capital, Inc.
81,335
1,381,882
KKR Real Estate Finance Trust, Inc.
256,191
1,708,794
Ladder Capital Corp.
525,745
5,373,114
Lazard, Inc., Class A
542,303
25,667,201
LendingClub Corp. *
553,203
9,874,674
SECURITY
NUMBER
OF SHARES
VALUE ($)
LendingTree, Inc. *
53,445
2,041,599
Marqeta, Inc., Class A *
1,841,018
7,474,533
Merchants Bancorp
140,597
6,627,743
MFA Financial, Inc.
485,503
4,660,829
MGIC Investment Corp.
1,053,579
26,571,262
Miami International Holdings, Inc. *
146,724
6,932,709
Moelis & Co., Class A
354,718
23,868,974
Navient Corp.
319,160
2,732,010
NCR Atleos Corp. *
355,944
15,875,102
Nelnet, Inc., Class A
66,925
8,738,397
NerdWallet, Inc., Class A *
163,457
1,405,730
NewtekOne, Inc.
128,850
1,788,438
NMI Holdings, Inc., Class A *
364,039
13,069,000
OneMain Holdings, Inc.
562,412
31,107,008
Open Lending Corp., Class A *
486,940
1,110,223
Oppenheimer Holdings, Inc., Class A
28,730
2,633,679
Orchid Island Capital, Inc. (a)
883,763
5,991,913
Paymentus Holdings, Inc., Class A *
243,584
5,721,788
Payoneer Global, Inc. *
1,384,708
7,200,482
PennyMac Financial Services, Inc.
140,335
11,769,896
PennyMac Mortgage Investment
Trust
413,538
4,325,607
Perella Weinberg Partners, Class A
320,016
5,491,475
Piper Sandler Cos.
324,989
25,482,387
PJT Partners, Inc., Class A
116,950
17,881,655
PRA Group, Inc. *
186,184
2,841,168
Priority Technology Holdings, Inc. *
128,600
821,754
PROG Holdings, Inc.
188,560
6,933,351
Radian Group, Inc.
649,552
22,182,201
Ready Capital Corp.
731,545
1,302,150
Redwood Trust, Inc.
607,318
3,291,664
Remitly Global, Inc. *
825,238
16,521,265
Repay Holdings Corp. *
321,086
1,245,814
Ridgepost Capital, Inc., Class A
298,199
2,469,088
Rithm Capital Corp.
2,672,497
24,907,672
Rocket Cos., Inc., Class A *
4,641,301
67,345,278
Sezzle, Inc. *
82,328
9,727,053
Shift4 Payments, Inc., Class A *(a)
325,785
14,516,980
SLM Corp.
956,206
21,151,277
StepStone Group, Inc., Class A
354,530
17,481,874
StoneX Group, Inc. *
336,043
38,090,474
Sui Group Holdings Ltd. *
157,942
252,707
TPG RE Finance Trust, Inc.
371,218
3,118,231
TPG, Inc.
620,370
26,409,151
Twenty One Capital, Inc., Class A *(a)
1,658,755
12,142,087
Two Harbors Investment Corp.
505,752
6,235,922
Upstart Holdings, Inc. *
416,309
14,067,081
UWM Holdings Corp.
1,198,457
3,667,278
Velocity Financial, Inc. *
45,600
798,000
Victory Capital Holdings, Inc., Class A
228,367
19,308,430
Virtu Financial, Inc., Class A
383,510
19,233,027
Virtus Investment Partners, Inc.
30,252
4,326,944
Walker & Dunlop, Inc.
162,946
8,178,260
Waterstone Financial, Inc.
71,050
1,315,136
Wealthfront Corp. *
170,671
2,085,600
Western Union Co.
1,521,416
12,369,112
WEX, Inc. *
165,016
23,920,719
WisdomTree, Inc.
551,146
10,499,331
World Acceptance Corp. *
13,637
2,251,332
 
1,275,758,137
 
Food, Beverage & Tobacco 1.0%
B&G Foods, Inc.
382,984
1,566,405
Beyond Meat, Inc. *
2,150,953
1,696,026
Boston Beer Co., Inc., Class A *
36,965
6,553,155
BRC, Inc., Class A *(a)
453,818
744,262
Cal-Maine Foods, Inc.
215,456
16,098,872
Darling Ingredients, Inc. *
760,416
44,940,586
  
61

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Flowers Foods, Inc.
1,012,532
7,735,744
Fresh Del Monte Produce, Inc.
158,121
5,082,009
Freshpet, Inc. *
233,472
12,047,155
Hain Celestial Group, Inc. *(b)
441,795
350,211
Ingredion, Inc.
303,084
30,744,841
J&J Snack Foods Corp.
73,836
5,620,396
John B Sanfilippo & Son, Inc.
43,749
3,277,238
Marzetti Co.
97,151
10,875,083
MGP Ingredients, Inc.
65,516
1,156,357
Mission Produce, Inc. *
279,365
3,112,126
National Beverage Corp. *
114,285
4,227,402
Once Upon a Farm PBC *(a)
51,402
794,161
Post Holdings, Inc. *
202,456
18,593,559
Seaboard Corp.
1,258
6,393,068
Seneca Foods Corp., Class A *
24,850
3,573,182
Simply Good Foods Co. *
413,572
4,764,349
Tootsie Roll Industries, Inc.
96,495
3,638,826
Turning Point Brands, Inc.
91,450
7,766,849
Universal Corp.
119,808
6,214,441
Utz Brands, Inc.
385,321
2,820,550
Vita Coco Co., Inc. *
210,053
15,781,282
Vital Farms, Inc. *
177,124
1,773,011
Westrock Coffee Co. *(a)
178,832
1,436,021
 
229,377,167
 
Health Care Equipment & Services 4.3%
Acadia Healthcare Co., Inc. *
442,275
10,260,780
Accendra Health, Inc. *
352,155
1,000,120
AdaptHealth Corp. *
520,885
5,276,565
Addus HomeCare Corp. *
87,738
8,043,820
agilon health, Inc. *
59,623
5,502,010
AirSculpt Technologies, Inc. *(a)
77,848
418,822
Alignment Healthcare, Inc. *
772,491
11,834,562
Alphatec Holdings, Inc. *
543,495
4,212,086
AMN Healthcare Services, Inc. *
183,118
5,304,928
AngioDynamics, Inc. *
203,509
2,336,283
Ardent Health, Inc. *
115,169
1,063,010
Artivion, Inc. *
200,827
4,456,351
Astrana Health, Inc. *
208,397
7,839,895
AtriCure, Inc. *
237,722
6,577,768
Avanos Medical, Inc. *
221,661
5,497,193
Aveanna Healthcare Holdings, Inc. *
338,330
2,425,826
Axogen, Inc. *
240,792
9,506,468
Beta Bionics, Inc. *
188,864
2,289,032
Billiontoone, Inc., Class A *
22,370
2,214,406
Bioventus, Inc., Class A *
227,310
1,934,408
BrightSpring Health Services, Inc. *
635,314
39,186,168
Brookdale Senior Living, Inc. *
1,144,598
14,730,976
Butterfly Network, Inc. *
981,318
4,464,997
Castle Biosciences, Inc. *
138,444
2,918,400
Ceribell, Inc. *
103,555
1,910,590
Certara, Inc. *
577,005
3,358,169
Cerus Corp. *
917,485
2,789,154
Claritev Corp. *(a)
36,140
907,837
Clover Health Investments Corp. *
1,927,862
7,672,891
Community Health Systems, Inc. *
546,336
1,486,034
Concentra Group Holdings Parent,
Inc.
571,081
14,202,784
CONMED Corp.
147,621
5,270,070
CorVel Corp. *
150,074
9,267,070
Cross Country Healthcare, Inc. *
147,480
1,930,513
Definitive Healthcare Corp. *
201,478
187,536
Dentsply Sirona, Inc.
962,236
10,074,611
DocGo, Inc. *
436,220
287,033
Doximity, Inc., Class A *
640,559
13,707,963
Embecta Corp.
279,197
943,686
Enovis Corp. *
273,122
6,194,407
Ensign Group, Inc.
276,922
46,425,973
SECURITY
NUMBER
OF SHARES
VALUE ($)
Envista Holdings Corp. *
786,967
18,533,073
Evolent Health, Inc., Class A *
530,654
2,096,083
Fulgent Genetics, Inc. *
96,720
1,754,501
GeneDx Holdings Corp. *
103,107
5,360,533
Glaukos Corp. *
275,579
28,481,090
Globus Medical, Inc., Class A *
535,715
43,864,344
GoodRx Holdings, Inc., Class A *
454,642
1,327,555
Guardant Health, Inc. *
619,161
80,298,990
Haemonetics Corp. *
222,680
15,099,931
Health Catalyst, Inc. *(a)
346,810
478,598
HealthEquity, Inc. *
410,002
36,076,076
HealthStream, Inc.
113,558
2,835,543
HeartFlow, Inc. *
84,850
2,628,653
Hims & Hers Health, Inc. *
998,703
26,116,083
Hinge Health, Inc., Class A *
70,308
3,952,013
ICU Medical, Inc. *
118,260
16,011,221
Innovage Holding Corp. *
105,550
801,125
Inspire Medical Systems, Inc. *
125,617
5,195,519
Integer Holdings Corp. *
167,769
14,995,193
Integra LifeSciences Holdings Corp. *
319,771
5,129,127
iRadimed Corp.
38,516
3,491,861
IRhythm Holdings, Inc. *
154,979
17,652,108
Kestra Medical Technologies Ltd. *
91,566
1,946,693
Lantheus Holdings, Inc. *
318,926
31,669,352
LeMaitre Vascular, Inc.
100,720
9,533,148
LifeStance Health Group, Inc. *
1,080,391
8,329,815
LivaNova PLC *
262,590
19,379,142
Lumexa Imaging Holdings, Inc. *
116,736
908,206
Merit Medical Systems, Inc. *
285,041
17,974,685
Nakamoto, Inc. *(a)
51,209
320,568
National HealthCare Corp.
59,366
10,948,278
Neogen Corp. *
1,044,229
9,366,734
NeoGenomics, Inc. *
628,280
6,609,506
Novocure Ltd. *
491,616
8,377,137
NRC Health
64,547
1,260,603
Omada Health, Inc. *
38,280
687,892
OmniAb, Inc., Class A *(c)
25,234
0
OmniAb, Inc., Class B *(c)
25,234
0
Omnicell, Inc. *
215,665
9,519,453
OPKO Health, Inc. *
2,043,607
2,983,666
Option Care Health, Inc. *
763,428
15,932,742
OraSure Technologies, Inc. *
338,989
1,457,653
Orchestra BioMed Holdings, Inc. *
178,244
696,934
Orthofix Medical, Inc. *
189,029
1,752,299
OrthoPediatrics Corp. *
80,402
1,380,502
PACS Group, Inc. *
209,486
7,677,662
Pediatrix Medical Group, Inc. *
404,731
8,717,906
Pennant Group, Inc. *
165,094
5,654,470
Phreesia, Inc. *
281,701
2,777,572
Privia Health Group, Inc. *
553,671
11,909,463
Procept Biorobotics Corp. *
269,767
7,102,965
Progyny, Inc. *
387,595
9,906,928
Pulse Biosciences, Inc. *(a)
86,707
2,167,675
QuidelOrtho Corp. *
323,693
4,214,483
RadNet, Inc. *
334,885
18,596,164
RxSight, Inc. *
173,907
926,924
Schrodinger, Inc. *
267,561
4,066,927
Select Medical Holdings Corp.
530,082
8,746,353
Senseonics Holdings, Inc. *(a)
179,406
1,218,167
SI-BONE, Inc. *
183,196
2,583,064
Sight Sciences, Inc. *
163,453
794,382
Simulations Plus, Inc. *
81,449
1,393,592
STAAR Surgical Co. *
240,462
7,187,409
Surgery Partners, Inc. *
366,047
4,890,388
Tandem Diabetes Care, Inc. *
327,891
5,639,725
Teladoc Health, Inc. *
858,079
6,529,981
Teleflex, Inc.
212,673
27,358,255
TransMedics Group, Inc. *
164,897
11,081,078
Treace Medical Concepts, Inc. *
229,810
795,143
62
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
TruBridge, Inc. *
47,365
1,229,595
U.S. Physical Therapy, Inc.
72,551
4,662,127
UFP Technologies, Inc. *
37,064
8,157,786
Varex Imaging Corp. *
197,728
2,022,757
Waystar Holding Corp. *
550,056
10,951,615
 
968,085,979
 
Household & Personal Products 0.4%
BellRing Brands, Inc. *
563,207
4,708,411
Central Garden & Pet Co. *
38,965
1,499,373
Central Garden & Pet Co., Class A *
244,935
8,359,632
Coty, Inc., Class A *
1,769,289
3,768,586
Edgewell Personal Care Co.
225,112
3,943,962
elf Beauty, Inc. *
283,853
15,895,768
Energizer Holdings, Inc.
290,242
5,288,209
Herbalife Ltd. *
497,239
5,946,978
Interparfums, Inc.
87,472
8,254,733
Medifast, Inc. *(b)
50,917
637,990
Niagen Bioscience, Inc. *
265,873
1,026,270
Nu Skin Enterprises, Inc., Class A
236,066
1,366,822
Oil-Dri Corp. of America
49,552
3,798,656
Olaplex Holdings, Inc. *
611,736
1,247,941
Reynolds Consumer Products, Inc.
264,153
5,724,195
SkinHealth Systems, Inc. *
410,479
317,629
Spectrum Brands Holdings, Inc.
111,397
8,765,830
USANA Health Sciences, Inc. *
51,755
947,116
WD-40 Co.
64,712
12,940,459
 
94,438,560
 
Insurance 2.3%
Abacus Global Management, Inc. (a)
152,912
1,373,150
American Integrity Insurance Group,
Inc.
33,265
544,215
AMERISAFE, Inc.
90,590
2,776,584
Assured Guaranty Ltd.
208,842
15,498,165
Ategrity Specialty Holdings LLC *
31,637
617,238
Axis Capital Holdings Ltd.
370,467
35,168,432
Baldwin Insurance Group, Inc.,
Class A *
377,087
7,323,030
Bowhead Specialty Holdings, Inc. *
80,829
2,151,668
Brighthouse Financial, Inc. *
275,162
17,211,383
CNO Financial Group, Inc.
453,464
20,845,740
Donegal Group, Inc., Class A
83,898
1,423,749
Employers Holdings, Inc.
109,151
4,748,068
F&G Annuities & Life, Inc.
182,790
5,066,939
First American Financial Corp.
489,033
32,388,656
Genworth Financial, Inc., Class A *
1,920,513
16,439,591
Goosehead Insurance, Inc., Class A *
118,499
4,075,181
Hagerty, Inc., Class A *
174,760
1,786,047
Hanover Insurance Group, Inc.
170,132
31,678,578
HCI Group, Inc.
51,575
7,946,160
Heritage Insurance Holdings, Inc. *
106,431
2,307,424
Hippo Holdings, Inc. *
99,169
2,565,502
Horace Mann Educators Corp.
194,701
8,903,677
James River Group Holdings, Inc.
218,709
855,152
Kemper Corp.
280,352
6,916,284
Lemonade, Inc. *
305,662
17,728,396
Lincoln National Corp.
811,901
28,651,986
MBIA, Inc. *
209,857
1,231,861
Mercury General Corp.
127,531
12,501,864
Neptune Insurance Holdings, Inc.,
Class A *
130,132
3,652,805
Octave Specialty Group, Inc. *
207,831
1,138,914
Oscar Health, Inc., Class A *
1,045,459
23,240,554
Palomar Holdings, Inc. *
127,811
13,680,889
Primerica, Inc.
153,293
41,384,511
ProAssurance Corp. *
245,516
5,889,929
SECURITY
NUMBER
OF SHARES
VALUE ($)
RLI Corp.
440,825
22,058,883
Root, Inc., Class A *
65,159
3,392,178
Ryan Specialty Holdings, Inc.
548,089
17,456,635
Safety Insurance Group, Inc.
71,000
4,982,070
Selective Insurance Group, Inc.
288,113
24,933,299
Selectquote, Inc. *
676,858
676,858
SiriusPoint Ltd. *
501,046
10,697,332
Skyward Specialty Insurance Group,
Inc. *
197,659
8,720,715
Slide Insurance Holdings, Inc. *
111,264
2,006,090
Stewart Information Services Corp.
145,280
9,440,294
Tiptree, Inc.
111,330
2,030,659
Trupanion, Inc. *
164,272
3,584,415
United Fire Group, Inc.
105,075
4,657,975
Universal Insurance Holdings, Inc.
121,492
4,497,634
White Mountains Insurance Group
Ltd.
11,765
24,292,607
 
523,139,966
 
Materials 4.5%
AdvanSix, Inc.
127,098
2,852,079
Alpha Metallurgical Resources, Inc. *
51,680
10,282,770
Ashland, Inc.
220,304
12,755,602
ASP Isotopes, Inc. *(a)
537,544
4,182,092
Aspen Aerogels, Inc. *
331,222
2,119,821
Avient Corp.
440,480
15,601,802
Balchem Corp.
155,713
24,404,898
Cabot Corp.
250,636
21,933,156
Celanese Corp.
525,165
27,902,016
Century Aluminum Co. *
255,772
16,873,279
Chemours Co.
721,086
15,979,266
Clearwater Paper Corp. *
77,212
1,258,556
Cleveland-Cliffs, Inc. *
2,741,106
37,279,042
Coeur Mining, Inc.
4,967,034
95,963,097
Commercial Metals Co.
533,116
40,543,472
Compass Minerals International,
Inc. *
168,815
5,388,575
Eagle Materials, Inc.
150,926
33,381,813
Ecovyst, Inc. *
544,558
7,182,720
Element Solutions, Inc.
1,093,357
46,391,137
FMC Corp.
596,339
8,145,991
Graphic Packaging Holding Co.
1,423,241
16,025,694
Greif, Inc., Class A
146,922
9,304,570
Hawkins, Inc.
100,768
15,595,863
HB Fuller Co.
261,087
16,730,455
Hecla Mining Co.
3,218,522
57,193,136
Huntsman Corp.
787,451
12,087,373
Ingevity Corp. *
172,398
11,692,032
Innospec, Inc.
118,761
9,850,037
Ivanhoe Electric, Inc. *
518,968
6,985,309
Kaiser Aluminum Corp.
76,967
14,011,073
Knife River Corp. *
271,643
21,326,692
Koppers Holdings, Inc.
93,486
3,814,229
Kronos Worldwide, Inc.
109,582
787,895
Louisiana-Pacific Corp.
304,025
23,221,429
LSB Industries, Inc. *
256,355
3,214,692
Materion Corp.
99,739
21,946,569
Mativ Holdings, Inc.
261,745
2,324,296
McEwen, Inc. *
241,662
5,289,981
Mercer International, Inc. (a)
219,102
203,765
Metallus, Inc. *
170,857
3,357,340
Minerals Technologies, Inc.
149,392
11,506,172
Myers Industries, Inc.
178,064
4,059,859
NewMarket Corp.
37,512
29,018,533
O-I Glass, Inc. *
735,210
6,433,087
Olin Corp.
543,614
14,063,294
Orion SA
268,728
2,053,082
Perimeter Solutions, Inc. *
675,017
21,789,549
  
63

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
PureCycle Technologies, Inc. *(a)
687,975
8,524,010
Quaker Chemical Corp.
65,689
9,428,342
Ramaco Resources, Inc., Class A *
216,229
3,375,335
Ranpak Holdings Corp. *
199,614
1,377,337
Ryerson Holding Corp.
211,072
6,036,659
Scotts Miracle-Gro Co.
214,087
12,631,133
Sensient Technologies Corp.
203,714
23,192,839
Silgan Holdings, Inc.
421,524
15,832,441
Solstice Advanced Materials, Inc.
762,347
64,212,488
Sonoco Products Co.
472,837
23,017,705
Stepan Co.
102,715
5,428,488
SunCoke Energy, Inc.
405,230
3,651,122
Sylvamo Corp.
159,863
6,277,820
TriMas Corp.
153,306
6,274,815
Tronox Holdings PLC
569,079
4,524,178
U.S. Lime & Minerals, Inc.
50,573
5,764,816
USA Rare Earth, Inc. *
828,292
23,200,459
Valhi, Inc.
10,863
156,318
Warrior Met Coal, Inc.
252,239
23,846,675
Worthington Steel, Inc.
155,469
6,559,237
 
1,027,619,407
 
Media & Entertainment 2.1%
Advantage Solutions, Inc. *(a)
20,285
759,065
AMC Entertainment Holdings, Inc.,
Class A *
2,446,018
4,231,611
AMC Global Media, Inc., Class A *
150,869
1,466,447
Angel Studios, Inc. *(a)
388,669
1,076,613
Angi, Inc. *
158,297
927,620
Atlanta Braves Holdings, Inc.,
Class C *
273,996
13,590,202
Bumble, Inc., Class A *
373,514
1,184,039
Cable One, Inc. *
22,098
1,161,250
Cargurus, Inc. *
392,417
11,717,572
Cars.com, Inc. *
263,879
2,712,676
Cinemark Holdings, Inc.
493,788
13,826,064
Clear Channel Outdoor Holdings,
Inc. *
1,545,044
3,723,556
DoubleVerify Holdings, Inc. *
644,921
6,255,734
EchoStar Corp., Class A *(a)
646,850
83,566,551
Emerald Holding, Inc.
66,491
332,455
EverQuote, Inc., Class A *
130,027
2,501,719
EW Scripps Co., Class A *
325,104
1,102,103
fuboTV, Inc., Class A *(a)
143,399
1,446,896
Getty Images Holdings, Inc. *(a)
178,499
185,639
Gray Media, Inc.
410,653
1,646,719
Grindr, Inc. *
210,342
2,629,275
IAC, Inc. *
312,236
14,016,274
Ibotta, Inc., Class A *
63,472
2,173,916
iHeartMedia, Inc., Class A *
575,386
2,479,914
John Wiley & Sons, Inc., Class A
197,750
8,321,320
Lionsgate Studios Corp. *
1,098,265
15,760,103
Madison Square Garden
Entertainment Corp. *
194,674
13,730,357
Madison Square Garden Sports
Corp. *
86,380
32,331,170
Magnite, Inc. *
693,576
9,938,944
MediaAlpha, Inc., Class A *
156,594
1,393,687
MNTN, Inc., Class A *
51,178
482,609
National CineMedia, Inc.
448,555
1,408,463
New York Times Co., Class A
775,875
58,353,559
Nexstar Media Group, Inc.
136,936
24,433,490
Nextdoor Holdings, Inc. *
1,092,187
2,304,515
NIQ Global Intelligence PLC *
238,567
1,989,649
Optimum Communications, Inc.,
Class A *
1,276,352
840,095
Playtika Holding Corp.
287,862
1,085,240
SECURITY
NUMBER
OF SHARES
VALUE ($)
PubMatic, Inc., Class A *
168,660
1,969,949
QuinStreet, Inc. *
271,823
3,403,224
Rumble, Inc. *(a)
537,764
4,942,051
Scholastic Corp. (a)
96,627
3,913,393
Shutterstock, Inc.
114,488
1,704,726
Sinclair, Inc.
187,293
2,590,262
Sphere Entertainment Co. *
128,190
17,751,751
Stagwell, Inc. *
531,712
3,727,301
Stubhub Holdings, Inc., Class A *
152,171
1,500,406
TechTarget, Inc. *
136,775
627,797
TripAdvisor, Inc. *
555,476
6,210,222
Trump Media & Technology Group
Corp. *
773,424
7,200,577
USA TODAY Co., Inc. *
605,500
4,728,955
Versant Media Group, Inc.
697,408
30,086,181
Warner Music Group Corp., Class A
705,698
22,257,715
Webtoon Entertainment, Inc. *(a)
87,614
1,076,776
Yelp, Inc. *
280,833
6,402,992
Ziff Davis, Inc. *
189,966
8,561,768
ZipRecruiter, Inc., Class A *
302,900
981,396
ZoomInfo Technologies, Inc. *
1,292,950
4,305,523
 
481,030,076
 
Pharmaceuticals, Biotechnology & Life Sciences 9.4%
10X Genomics, Inc., Class A *
567,442
16,061,446
4D Molecular Therapeutics, Inc. *
183,848
1,821,934
Absci Corp. *
647,626
4,371,475
ACADIA Pharmaceuticals, Inc. *
599,520
12,985,603
Adaptive Biotechnologies Corp. *
572,042
8,666,436
ADMA Biologics, Inc. *
1,140,402
9,100,408
Agios Pharmaceuticals, Inc. *
280,614
8,250,052
Akebia Therapeutics, Inc. *
1,262,091
1,287,333
Aktis Oncology, Inc. *(a)
88,421
1,833,852
Alector, Inc. *
441,498
953,636
Alkermes PLC *
793,321
33,470,213
Allogene Therapeutics, Inc. *
1,206,717
2,618,576
Alumis, Inc. *
389,753
8,418,665
Amneal Pharmaceuticals, Inc. *
818,717
10,782,503
Amphastar Pharmaceuticals, Inc. *
170,942
3,222,257
Amylyx Pharmaceuticals, Inc. *
402,673
5,778,358
AnaptysBio, Inc. *
94,507
5,261,205
Anavex Life Sciences Corp. *
440,017
1,333,251
ANI Pharmaceuticals, Inc. *
86,875
6,820,556
Anika Therapeutics, Inc. *
66,722
969,471
Annexon, Inc. *
637,551
3,455,526
Apogee Therapeutics, Inc. *
257,906
21,184,399
Arbutus Biopharma Corp. *
734,077
3,347,391
Arcturus Therapeutics Holdings,
Inc. *
131,063
1,038,019
Arcus Biosciences, Inc. *
406,972
10,312,670
Arcutis Biotherapeutics, Inc. *
533,824
11,455,863
Ardelyx, Inc. *
1,165,721
7,040,955
ArriVent Biopharma, Inc. *
147,068
4,451,748
Arrowhead Pharmaceuticals, Inc. *
673,075
52,439,273
ARS Pharmaceuticals, Inc. *(a)
310,860
2,819,500
Arvinas, Inc. *
305,441
2,742,860
AtaiBeckley, Inc. *
938,013
4,249,199
Atea Pharmaceuticals, Inc. *
345,743
1,614,620
Atrium Therapeutics, Inc. *
67,609
878,917
Axsome Therapeutics, Inc. *
203,347
47,680,805
Azenta, Inc. *
194,767
4,456,269
Beam Therapeutics, Inc. *
476,063
15,676,755
Bicara Therapeutics, Inc. *
151,197
3,288,535
BioAge Labs, Inc. *
142,616
2,465,831
BioCryst Pharmaceuticals, Inc. *
1,153,746
10,279,877
Biohaven Ltd. *
551,476
6,071,751
BioLife Solutions, Inc. *
186,113
4,637,936
64
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
BridgeBio Oncology Therapeutics,
Inc. *(a)
227,162
2,037,643
Bridgebio Pharma, Inc. *
814,839
53,991,232
Bruker Corp.
532,300
31,347,147
C4 Therapeutics, Inc. *
376,871
1,646,926
CareDx, Inc. *
249,820
5,700,892
Caribou Biosciences, Inc. *
424,986
1,002,967
Catalyst Pharmaceuticals, Inc. *
556,177
17,369,408
Celcuity, Inc. *
173,352
23,035,014
Celldex Therapeutics, Inc. *
368,599
11,585,067
CG oncology, Inc. *
328,866
20,485,063
Cogent Biosciences, Inc. *
738,534
25,819,149
Coherus Oncology, Inc. *
708,786
1,126,970
Collegium Pharmaceutical, Inc. *
153,438
5,157,051
Contineum Therapeutics, Inc.,
Class A *
115,454
1,557,474
Corcept Therapeutics, Inc. *
449,561
31,239,994
CorMedix, Inc. *(a)
347,600
2,933,744
Crinetics Pharmaceuticals, Inc. *
492,215
17,498,243
CRISPR Therapeutics AG *(a)
462,241
25,968,699
CryoPort, Inc. *
238,018
3,734,502
Cullinan Therapeutics, Inc. *
246,022
4,044,602
Cytek Biosciences, Inc. *
529,670
2,219,317
Cytokinetics, Inc. *
635,048
48,746,284
Definium Therapeutics, Inc. *
472,865
11,438,604
Denali Therapeutics, Inc. *
712,591
14,992,915
Design Therapeutics, Inc. *
144,517
1,514,538
Dianthus Therapeutics, Inc. *
177,918
16,548,153
Disc Medicine, Inc. *
152,129
10,583,615
Dyne Therapeutics, Inc. *
688,647
13,311,546
Edgewise Therapeutics, Inc. *
355,233
12,134,759
Editas Medicine, Inc. *
476,099
1,647,303
Eikon Therapeutics, Inc. *(a)
99,710
1,080,856
Emergent BioSolutions, Inc. *
247,567
2,257,811
Enanta Pharmaceuticals, Inc. *
128,329
1,688,810
Enliven Therapeutics, Inc. *
213,915
8,464,617
Entrada Therapeutics, Inc. *
113,431
801,957
Erasca, Inc. *
1,147,176
14,729,740
Evolus, Inc. *
308,905
2,026,417
Evommune, Inc. *
53,246
1,236,905
EyePoint, Inc. *
378,301
5,137,328
Fate Therapeutics, Inc. *
507,222
1,440,510
First Tracks Biotherapeutics, Inc. *
94,507
1,508,332
Fortrea Holdings, Inc. *
445,889
6,862,232
Forum Markets, Inc. *(a)
89,999
398,696
Fulcrum Therapeutics, Inc. *
228,397
1,580,507
Geron Corp. *
2,553,963
3,192,454
Ginkgo Bioworks Holdings, Inc. *
210,444
1,971,860
Gossamer Bio, Inc. *(a)
986,388
227,757
GRAIL, Inc. *
143,108
10,257,981
Gyre Therapeutics, Inc. *(a)
99,850
590,113
Halozyme Therapeutics, Inc. *
565,167
37,606,212
Harmony Biosciences Holdings, Inc. *
190,536
6,019,032
Harrow, Inc. *
158,606
5,584,517
Heron Therapeutics, Inc. *(a)
869,514
756,564
Humacyte, Inc. *(a)
728,257
946,734
Ideaya Biosciences, Inc. *
422,916
12,463,334
ImmunityBio, Inc. *(a)
1,465,136
11,017,823
Immunome, Inc. *
496,129
10,830,496
Immunovant, Inc. *
371,027
12,355,199
Indivior Pharmaceuticals, Inc. *
599,340
21,588,227
Innoviva, Inc. *
341,402
7,312,831
Intellia Therapeutics, Inc. *
633,213
8,909,307
Ionis Pharmaceuticals, Inc. *
778,296
59,539,644
Iovance Biotherapeutics, Inc. *
1,614,814
6,620,737
Ironwood Pharmaceuticals, Inc. *
689,520
2,461,586
Janux Therapeutics, Inc. *
229,230
3,344,466
KalVista Pharmaceuticals, Inc. *
190,039
5,106,348
Keros Therapeutics, Inc. *
92,909
1,045,226
SECURITY
NUMBER
OF SHARES
VALUE ($)
Kodiak Sciences, Inc. *
193,812
7,114,839
Krystal Biotech, Inc. *
123,802
38,258,532
Kura Oncology, Inc. *
413,640
4,219,128
Kymera Therapeutics, Inc. *
294,574
23,984,215
Kyverna Therapeutics, Inc. *
167,892
1,430,440
LB Pharmaceuticals, Inc. *
115,611
3,233,640
LENZ Therapeutics, Inc. *
103,970
808,887
Lexicon Pharmaceuticals, Inc. *
1,031,761
2,249,239
Ligand Pharmaceuticals, Inc. *
94,514
21,923,467
Liquidia Corp. *
329,270
20,368,642
Lyell Immunopharma, Inc. *
67,418
1,168,354
Madrigal Pharmaceuticals, Inc. *
89,451
44,481,299
MannKind Corp. *
1,465,748
5,525,870
MapLight Therapeutics, Inc. *(a)
94,656
2,774,367
Maravai LifeSciences Holdings, Inc.,
Class A *
588,594
2,825,251
Maze Therapeutics, Inc. *
100,682
2,664,046
MBX Biosciences, Inc. *
119,785
3,769,634
Mesa Laboratories, Inc.
26,512
2,704,754
MiMedx Group, Inc. *
557,179
2,050,419
Mineralys Therapeutics, Inc. *
267,548
8,427,762
Mirum Pharmaceuticals, Inc. *
227,106
23,051,259
Monte Rosa Therapeutics, Inc. *
299,568
5,904,485
Myriad Genetics, Inc. *
443,495
1,760,675
Nektar Therapeutics *
151,764
9,846,448
Neumora Therapeutics, Inc. *
415,454
768,590
Novavax, Inc. *
785,641
8,618,482
Nurix Therapeutics, Inc. *
465,900
8,274,384
Nuvalent, Inc., Class A *
252,662
27,891,358
Nuvation Bio, Inc. *
1,144,567
5,471,030
Ocular Therapeutix, Inc. *
842,562
7,591,484
Olema Pharmaceuticals, Inc. *
247,295
3,261,821
Omeros Corp. *(a)
343,657
3,793,973
OmniAb, Inc. *
559,880
1,511,676
Organogenesis Holdings, Inc. *
350,568
900,960
Organon & Co.
1,248,844
16,659,579
ORIC Pharmaceuticals, Inc. *
365,728
3,090,402
Oruka Therapeutics, Inc. *
234,768
13,740,971
Pacific Biosciences of California,
Inc. *
1,434,253
2,137,037
Pacira BioSciences, Inc. *
199,989
4,643,745
Perrigo Co. PLC (a)
657,042
7,260,314
Perspective Therapeutics, Inc. *
404,878
1,595,219
Phathom Pharmaceuticals, Inc. *
236,548
2,268,495
Phibro Animal Health Corp., Class A
98,936
3,046,239
Praxis Precision Medicines, Inc. *
123,672
43,281,490
Precigen, Inc. *
839,021
3,641,351
Prestige Consumer Healthcare, Inc. *
226,657
10,773,007
Prime Medicine, Inc. *
520,627
1,848,226
ProKidney Corp. *(a)
504,722
923,641
Protagonist Therapeutics, Inc. *
282,203
28,096,131
Prothena Corp. PLC *
204,270
2,079,469
PTC Therapeutics, Inc. *
385,900
28,498,715
Quanterix Corp. *
206,422
631,651
Rapport Therapeutics, Inc. *
138,434
5,468,143
Recursion Pharmaceuticals, Inc.,
Class A *(a)
2,474,580
8,883,742
REGENXBIO, Inc. *
224,968
1,577,026
Relay Therapeutics, Inc. *
743,920
10,452,076
Replimune Group, Inc. *
356,756
3,100,210
Revolution Medicines, Inc. *
942,347
148,400,806
Rezolute, Inc. *
411,391
1,357,590
Rhythm Pharmaceuticals, Inc. *
292,309
25,816,731
Rigel Pharmaceuticals, Inc. *
89,323
2,723,458
Rocket Pharmaceuticals, Inc. *
426,156
1,308,299
Sana Biotechnology, Inc. *
770,584
2,542,927
Sarepta Therapeutics, Inc. *
501,690
8,965,200
Savara, Inc. *
646,496
3,361,779
Scholar Rock Holding Corp. *
406,786
20,054,550
  
65

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Septerna, Inc. *
108,080
3,264,016
Seres Therapeutics, Inc. *(a)
31,065
227,396
SIGA Technologies, Inc.
194,351
909,563
Sionna Therapeutics, Inc. *
69,780
2,987,980
Sotera Health Co. *
1,272,345
19,899,476
SpyGlass Pharma, Inc. *(a)
45,933
884,670
Spyre Therapeutics, Inc. *
360,281
26,480,653
Standard BioTools, Inc. *
1,427,644
1,641,791
Stoke Therapeutics, Inc. *
247,450
7,648,679
Supernus Pharmaceuticals, Inc. *
274,364
12,670,129
Syndax Pharmaceuticals, Inc. *
415,984
8,149,127
Tango Therapeutics, Inc. *
471,170
10,356,317
Tarsus Pharmaceuticals, Inc. *
187,160
11,117,304
Taysha Gene Therapies, Inc. *
1,069,481
6,277,853
TG Therapeutics, Inc. *
652,225
24,745,416
Theravance Biopharma, Inc. *
178,429
2,865,570
Third Harmonic Bio, Inc. *(c)
98,316
0
Travere Therapeutics, Inc. *
431,038
20,336,373
Trevi Therapeutics, Inc. *
554,046
7,834,210
Twist Bioscience Corp. *
293,858
19,650,284
Tyra Biosciences, Inc. *
114,423
3,822,872
Ultragenyx Pharmaceutical, Inc. *
462,841
11,080,414
uniQure NV *
300,051
8,560,455
Upstream Bio, Inc. *
161,591
1,350,901
Vanda Pharmaceuticals, Inc. *
286,051
1,845,029
Vaxcyte, Inc. *
617,613
31,745,308
Vera Therapeutics, Inc. *
308,431
10,955,469
Veracyte, Inc. *
380,446
17,629,868
VeraDermics, Inc. *(a)
94,593
9,545,380
Vericel Corp. *
244,063
8,134,620
Viking Therapeutics, Inc. *
555,441
18,185,138
Vir Biotechnology, Inc. *
539,094
5,142,957
Viridian Therapeutics, Inc. *
410,153
7,226,896
WaVe Life Sciences Ltd. *
703,004
4,625,766
Xencor, Inc. *
339,844
4,037,347
Xeris Biopharma Holdings, Inc. *
806,409
4,967,479
Zenas Biopharma, Inc. *
134,922
2,482,565
 
2,131,120,816
 
Real Estate Management & Development 0.5%
Compass, Inc., Class A *
2,979,270
24,519,392
Cushman & Wakefield Ltd. *
1,115,513
13,876,982
eXp World Holdings, Inc.
428,075
2,106,129
Forestar Group, Inc. *
93,800
2,576,686
FRP Holdings, Inc. *
58,598
1,354,200
Howard Hughes Holdings, Inc. *
146,898
9,305,988
Kennedy-Wilson Holdings, Inc.
580,507
6,391,382
Marcus & Millichap, Inc.
114,523
3,234,129
Newmark Group, Inc., Class A
767,030
10,715,409
Opendoor Technologies, Inc. *
3,852,492
19,416,560
RE/MAX Holdings, Inc., Class A *
95,885
914,743
RMR Group, Inc., Class A
77,507
1,546,265
Seaport Entertainment Group, Inc. *
36,081
911,045
Seritage Growth Properties, Class A *
197,729
508,163
St. Joe Co.
190,598
12,127,751
Tejon Ranch Co. *
118,808
2,296,559
 
111,801,383
 
Semiconductors & Semiconductor Equipment 5.1%
ACM Research, Inc., Class A *
256,378
22,192,080
Aehr Test Systems *
138,345
12,773,394
Allegro MicroSystems, Inc. *
597,028
28,579,730
Alpha & Omega Semiconductor Ltd. *
117,894
5,346,493
Ambarella, Inc. *
196,010
14,148,002
Ambiq Micro, Inc. *
32,560
2,593,730
Amkor Technology, Inc.
547,005
38,049,668
Axcelis Technologies, Inc. *
147,341
22,161,560
SECURITY
NUMBER
OF SHARES
VALUE ($)
Blaize Holdings, Inc. *(a)
263,186
463,207
CEVA, Inc. *
131,098
5,241,298
Cirrus Logic, Inc. *
244,784
41,601,041
Cohu, Inc. *
224,754
11,855,773
Diodes, Inc. *
220,133
23,184,408
Enphase Energy, Inc. *
628,216
42,944,846
FormFactor, Inc. *
372,636
46,426,719
Ichor Holdings Ltd. *
165,982
11,871,033
Impinj, Inc. *
129,527
19,558,577
indie Semiconductor, Inc.,
Class A *(a)
970,800
4,844,292
Kulicke & Soffa Industries, Inc.
251,140
25,588,655
MACOM Technology Solutions
Holdings, Inc. *
309,822
112,973,494
MaxLinear, Inc. *
390,847
36,321,412
MKS, Inc.
322,707
104,640,972
Navitas Semiconductor Corp. *
951,956
25,322,030
Onto Innovation, Inc. *
238,519
61,595,146
PDF Solutions, Inc. *
175,854
8,586,951
Penguin Solutions, Inc. *
230,112
12,847,153
Photronics, Inc. *
282,757
9,147,189
Power Integrations, Inc.
266,778
22,409,352
Rambus, Inc. *
516,867
75,183,474
Rigetti Computing, Inc. *
1,585,702
40,498,829
Semtech Corp. *
444,520
67,807,081
Silicon Laboratories, Inc. *
158,514
34,492,646
SiTime Corp. *
106,097
75,350,089
SkyWater Technology, Inc. *
136,255
5,311,220
SolarEdge Technologies, Inc. *
287,724
21,967,727
Synaptics, Inc. *
186,234
25,566,203
Ultra Clean Holdings, Inc. *
218,337
18,683,097
Veeco Instruments, Inc. *
290,452
16,741,653
Wolfspeed, Inc. *(a)
136,551
8,094,743
 
1,162,964,967
 
Software & Services 6.2%
8x8, Inc. *
678,460
1,404,412
A10 Networks, Inc.
343,738
10,360,263
ACI Worldwide, Inc. *
494,790
21,607,479
Adeia, Inc.
523,993
14,001,093
Agilysys, Inc. *
122,892
10,637,532
Alarm.com Holdings, Inc. *
239,640
10,810,160
Alkami Technology, Inc. *
377,645
6,861,810
Amplitude, Inc., Class A *
453,937
3,549,787
Appfolio, Inc., Class A *
117,157
18,882,194
Appian Corp., Class A *
193,484
4,527,526
Applied Digital Corp. *
1,194,436
56,472,934
Asana, Inc., Class A *
431,308
3,321,072
Aurora Innovation, Inc. *
5,985,765
43,935,515
AvePoint, Inc. *
677,075
7,386,888
BigBear.ai Holdings, Inc. *(a)
2,087,667
10,521,842
Bill Holdings, Inc. *
424,170
15,702,773
Bit Digital, Inc. *
1,532,744
3,096,143
BitMine Immersion Technologies, Inc.
2,186,461
42,133,104
Blackbaud, Inc. *
173,668
5,329,871
BlackLine, Inc. *
239,027
7,027,394
Blend Labs, Inc., Class A *
1,061,538
1,900,153
Box, Inc., Class A *
689,565
18,590,672
Braze, Inc., Class A *
470,313
12,054,122
C3.ai, Inc., Class A *
602,407
6,487,923
CCC Intelligent Solutions Holdings,
Inc. *
2,796,157
13,141,938
Cipher Digital, Inc. *
1,405,854
33,248,447
Cleanspark, Inc. *
1,230,879
22,512,777
Clear Secure, Inc., Class A
425,423
23,589,705
Clearwater Analytics Holdings, Inc.,
Class A *
1,384,534
33,699,558
Commerce.com, Inc. *
323,551
1,012,715
66
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Commvault Systems, Inc. *
211,261
25,087,244
Consensus Cloud Solutions, Inc. *
90,034
3,092,668
Core Scientific, Inc. *
1,488,852
39,975,676
CS Disco, Inc. *
121,164
483,444
Daily Journal Corp. *
4,405
2,277,914
Digimarc Corp. *(a)
79,459
1,168,047
Digital Turbine, Inc. *
511,880
4,494,306
DigitalOcean Holdings, Inc. *
381,791
59,540,306
Dolby Laboratories, Inc., Class A
293,105
16,358,190
Domo, Inc., Class B *
158,964
662,880
Dropbox, Inc., Class A *
837,842
22,521,193
D-Wave Quantum, Inc. *
1,775,458
53,512,304
DXC Technology Co. *
815,584
8,082,437
EverCommerce, Inc. *(a)
88,167
991,879
Everforth, Inc. *
204,672
4,641,961
Expensify, Inc., Class A *
260,603
304,906
Fastly, Inc., Class A *
671,397
11,927,368
Five9, Inc. *
374,655
9,122,849
Freshworks, Inc., Class A *
995,749
9,668,723
Gitlab, Inc., Class A *
685,569
21,286,917
Grid Dynamics Holdings, Inc. *
313,116
2,254,435
Hackett Group, Inc.
111,466
1,285,203
Hut 8 Corp. *
462,231
57,700,296
I3 Verticals, Inc., Class A *
92,389
1,881,040
Intapp, Inc. *
268,549
6,200,796
InterDigital, Inc.
123,432
31,115,973
Kaltura, Inc. *
428,849
656,139
Klaviyo, Inc., Class A *
697,211
11,043,822
Kyndryl Holdings, Inc. *
1,093,837
13,640,147
Life360, Inc. *
377,801
16,052,765
LiveRamp Holdings, Inc. *
303,619
11,403,930
MARA Holdings, Inc. *
1,815,265
26,103,511
N-able, Inc. *
358,184
1,325,281
nCino, Inc. *
501,979
8,071,822
NCR Voyix Corp. *
659,704
4,743,272
Netskope, Inc., Class A *
413,770
5,023,168
NextNav, Inc. *
428,540
8,836,495
OneSpan, Inc.
183,547
2,650,419
PagerDuty, Inc. *
435,899
4,337,195
PAR Technology Corp. *
194,027
2,995,777
Pegasystems, Inc.
439,460
15,701,906
Pivotal Software, Inc. *(c)
272,619
0
Porch Group, Inc. *
478,972
4,990,888
Progress Software Corp. *
203,974
6,696,466
Q2 Holdings, Inc. *
298,735
14,145,102
Qualys, Inc. *
171,814
18,777,552
Rackspace Technology, Inc. *(a)
483,559
2,500,000
Rapid7, Inc. *
274,602
2,301,165
Red Violet, Inc. *
64,717
3,678,514
RingCentral, Inc., Class A
363,037
15,723,132
Riot Platforms, Inc. *
1,552,485
42,087,868
Samsara, Inc., Class A *
1,720,439
60,198,161
SentinelOne, Inc., Class A *
1,598,289
26,451,683
ServiceTitan, Inc., Class A *
275,986
19,970,347
Silvaco Group, Inc. *
42,016
405,875
SoundHound AI, Inc., Class A *(a)
1,856,050
16,704,450
Sprinklr, Inc., Class A *
586,129
3,270,600
Sprout Social, Inc., Class A *
250,697
1,875,214
SPS Commerce, Inc. *
180,156
10,223,853
Telos Corp. *
254,174
1,217,493
Tenable Holdings, Inc. *
568,118
16,037,971
Teradata Corp. *
447,056
15,222,257
Terawulf, Inc. *
1,812,984
46,339,871
Thryv Holdings, Inc. *
197,789
767,421
TON Strategy Co. *
226,653
902,079
Tucows, Inc., Class A *
42,595
645,740
UiPath, Inc., Class A *
2,055,137
24,086,206
Unisys Corp. *
313,847
1,440,558
Varonis Systems, Inc. *
562,476
19,208,555
SECURITY
NUMBER
OF SHARES
VALUE ($)
Vertex, Inc., Class A *
350,673
4,681,485
Via Transportation, Inc., Class A *
50,233
765,049
Weave Communications, Inc. *
314,322
1,892,218
Whitefiber, Inc. *(a)
46,211
1,374,315
Workiva, Inc. *
251,172
12,503,342
Xperi, Inc. *
226,540
1,800,993
Yext, Inc. *
398,717
1,666,637
Zeta Global Holdings Corp., Class A *
973,231
22,277,258
 
1,414,862,724
 
Technology Hardware & Equipment 11.2%
908 Devices, Inc. *
131,008
1,101,777
ADTRAN Holdings, Inc. *
357,496
5,916,559
Advanced Energy Industries, Inc.
181,334
54,795,508
Aeva Technologies, Inc. *
131,164
3,696,202
Applied Optoelectronics, Inc. *
308,101
48,806,279
Arlo Technologies, Inc. *
505,198
6,739,341
Avnet, Inc.
393,387
34,197,132
Badger Meter, Inc.
141,711
17,557,993
Bel Fuse, Inc., Class B
65,023
17,850,114
Belden, Inc.
189,234
19,884,709
Benchmark Electronics, Inc.
170,864
14,431,173
Calix, Inc. *
288,560
11,470,260
Clearfield, Inc. *
54,856
2,590,300
Corsair Gaming, Inc. *
223,650
2,715,111
Crane NXT Co.
235,913
9,162,861
CTS Corp.
139,517
8,958,387
Daktronics, Inc. *
198,906
4,113,376
Diebold Nixdorf, Inc. *
169,634
13,764,103
Digi International, Inc. *
180,682
12,069,558
ePlus, Inc.
125,513
10,303,362
Evolv Technologies Holdings, Inc. *
670,261
4,323,183
Extreme Networks, Inc. *
643,888
17,069,471
GPGI, Inc., Class A
857,931
10,432,441
Harmonic, Inc. *
541,670
8,184,634
Insight Enterprises, Inc. *
148,769
15,826,046
IPG Photonics Corp. *
121,793
13,947,734
Itron, Inc. *
220,178
18,160,281
Kimball Electronics, Inc. *
116,529
3,021,597
Knowles Corp. *
408,128
15,268,069
Lightwave Logic, Inc. *
699,779
7,599,600
Littelfuse, Inc.
119,726
55,896,478
Lumentum Holdings, Inc. *
342,916
293,179,463
Methode Electronics, Inc.
168,646
1,946,175
MicroVision, Inc. *
1,428,900
866,914
Mirion Technologies, Inc. *
1,172,880
21,440,246
Napco Security Technologies, Inc.
171,637
6,441,537
NETGEAR, Inc. *
138,688
3,604,501
NetScout Systems, Inc. *
329,073
13,696,018
nLight, Inc. *
265,964
19,713,252
Novanta, Inc. *
171,782
27,370,026
Ondas, Inc. *(a)
2,158,392
28,533,942
OSI Systems, Inc. *
74,576
16,164,348
Ouster, Inc. *
288,397
13,280,682
PC Connection, Inc.
54,602
3,799,753
Plexus Corp. *
128,558
34,499,825
Powerfleet, Inc. NJ *
560,997
2,193,498
Quantum Computing, Inc. *(a)
912,261
10,910,642
Ralliant Corp.
542,307
33,552,534
Ribbon Communications, Inc. *
440,848
1,357,812
Rogers Corp. *
80,309
11,365,330
Sandisk Corp. *
708,887
1,201,549,287
Sanmina Corp. *
262,331
68,135,231
ScanSource, Inc. *
93,866
4,343,180
SmartRent, Inc. *
826,772
1,041,733
TTM Technologies, Inc. *
496,388
86,232,523
Viasat, Inc. *
652,242
52,583,750
Viavi Solutions, Inc. *
1,111,605
53,979,539
  
67

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Vishay Intertechnology, Inc.
592,304
30,829,423
Vistance Networks, Inc. *
1,067,144
13,317,957
Vontier Corp.
681,567
19,342,871
Xerox Holdings Corp.
560,175
1,814,967
 
2,546,940,598
 
Telecommunication Services 0.8%
Anterix, Inc. *
90,883
5,818,330
Array Digital Infrastructure, Inc.
68,509
3,484,368
ATN International, Inc.
47,299
1,331,940
Bandwidth, Inc., Class A *
137,696
8,946,109
Cogent Communications Holdings,
Inc.
226,837
4,028,625
Globalstar, Inc. *
243,730
20,524,503
Gogo, Inc. *
376,416
1,720,221
IDT Corp., Class B
98,183
5,415,774
Iridium Communications, Inc.
503,986
26,096,395
Liberty Capital Corp., Class C *
173,103
3,872,314
Liberty Global Ltd., Class C *
1,460,238
17,756,494
Liberty Latin America Ltd., Class C *
767,578
6,294,140
Lumen Technologies, Inc. *
4,534,263
49,831,550
Shenandoah Telecommunications
Co.
217,006
3,461,246
Telephone & Data Systems, Inc.
471,108
18,425,034
Uniti Group, Inc.
860,792
9,658,086
 
186,665,129
 
Transportation 1.6%
Alaska Air Group, Inc. *
549,897
25,306,260
Allegiant Travel Co. *
105,277
9,644,426
ArcBest Corp.
107,017
14,628,154
Arrive AI, Inc. *(a)
23,442
15,472
Avis Budget Group, Inc. *(a)
81,320
14,299,309
Covenant Logistics Group, Inc.,
Class A
71,872
2,853,318
Forward Air Corp. *
108,267
1,145,465
Frontier Group Holdings, Inc. *
406,599
2,459,924
FTAI Infrastructure, Inc. (a)
564,458
2,517,483
Genco Shipping & Trading Ltd.
184,140
4,430,408
GXO Logistics, Inc. *
549,775
27,549,225
Heartland Express, Inc.
218,147
3,270,023
Hertz Global Holdings, Inc. *(a)
592,591
3,199,991
Hub Group, Inc., Class A
292,341
12,143,845
JetBlue Airways Corp. *
1,431,583
7,830,759
Kirby Corp. *
260,428
36,613,572
Landstar System, Inc.
163,551
33,838,702
Lyft, Inc., Class A *
1,914,537
27,014,117
Marten Transport Ltd.
277,116
4,777,480
Matson, Inc.
149,911
27,178,864
Proficient Auto Logistics, Inc. *
111,048
607,433
RXO, Inc. *
787,755
20,150,773
Ryder System, Inc.
189,549
47,548,367
Schneider National, Inc., Class B
238,684
8,435,093
SkyWest, Inc. *
192,852
16,517,774
Universal Logistics Holdings, Inc.
34,825
554,066
Werner Enterprises, Inc.
287,373
11,928,853
Wheels Up Experience, Inc. *(a)
21,895
193,114
 
366,652,270
 
Utilities 2.3%
American States Water Co.
185,468
14,331,112
Avista Corp.
390,412
16,190,386
Black Hills Corp.
362,360
26,387,055
California Water Service Group
286,892
12,938,829
Chesapeake Utilities Corp.
113,772
14,030,363
SECURITY
NUMBER
OF SHARES
VALUE ($)
Clearway Energy, Inc., Class C
574,283
23,637,488
H2O America (a)
178,461
10,320,400
Hallador Energy Co. *
180,074
3,468,225
Hawaiian Electric Industries, Inc. *
826,316
10,990,003
IDACORP, Inc.
259,887
36,454,350
MDU Resources Group, Inc.
980,804
20,675,348
MGE Energy, Inc.
175,630
13,260,065
Middlesex Water Co.
87,875
4,616,074
Montauk Renewables, Inc. *
316,040
549,910
National Fuel Gas Co.
455,917
35,219,588
New Jersey Resources Corp.
484,682
26,778,681
Northwest Natural Holding Co.
199,402
9,669,003
Northwestern Energy Group, Inc.
294,390
20,786,878
ONE Gas, Inc.
287,537
22,353,126
Ormat Technologies, Inc.
292,249
40,105,330
Otter Tail Corp.
201,614
17,471,869
Portland General Electric Co.
540,850
27,107,402
Southwest Gas Holdings, Inc.
308,996
26,638,545
Spire, Inc.
284,426
23,396,883
TXNM Energy, Inc.
469,920
27,823,963
UGI Corp.
1,031,050
36,004,266
Unitil Corp.
86,483
4,326,745
York Water Co.
70,506
2,108,129
 
527,640,016
Total Common Stocks
(Cost $16,328,764,139)
22,740,872,408
 
 
 
SHORT-TERM INVESTMENTS 1.7% OF NET ASSETS
 
Money Market Funds 1.7%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)
19,260,031
19,260,031
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (d)(e)
374,821,695
374,821,695
 
394,081,726
Total Short-Term Investments
(Cost $394,081,726)
394,081,726
Total Investments in Securities
(Cost $16,722,845,865)
23,134,954,134
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
Russell 2000 Index, e-mini,
expires 06/18/26
207
30,266,505
927,954
*
Non-income producing security.
(a)
All or a portion of this security is on loan.
(b)
Issuer is an affiliated company, as the investment adviser owns at least 5% of
the voting securities of such company.
(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 $362,002,635.
REIT —
Real Estate Investment Trust
68
  

Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
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 August 31, 2025, 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
8/31/25
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 0.0% OF NET ASSETS
 
Capital Goods 0.0%
JELD-WEN Holding, Inc. *
$
$214,623
($222,005
)
($685,480
)
($1,061,967
)
$
$
 
Commercial & Professional Services 0.0%
TrueBlue, Inc. (a),*
83,098
(33,830
)
1,867
33,171
908,542
146,303
 
Consumer Discretionary Distribution & Retail 0.0%
QVC Group, Inc.
290,004
28,226
(514,201
)
(5,554,082
)
5,750,053
 
Consumer Durables & Apparel 0.0%
Oxford Industries, Inc.
360,606
(294,668
)
(192,894
)
218,428
140,904
 
Equity Real Estate Investment Trusts (REITs) 0.0%
Service Properties Trust
2,178,276
2,806,504
(474,280
)
(2,410,137
)
2,775,250
42,704
 
Food, Beverage & Tobacco 0.0%
Hain Celestial Group, Inc. (a),*
58,132
(22,008
)
(2,253
)
(435,405
)
350,211
441,795
 
Health Care Equipment & Services 0.0%
Accendra Health, Inc. *
171,746
(123,516
)
(352,571
)
(382,634
)
 
Household & Personal Products 0.0%
Medifast, Inc. (a),*
58,305
(23,557
)
294
(76,735
)
637,990
50,917
Nu Skin Enterprises, Inc., Class A
478,402
(479,855
)
(1,590,209
)
66,405
42,757
 
637,990
 
Media & Entertainment 0.0%
AMC Global Media, Inc., Class A *
133,317
(186,004
)
(645,766
)
1,055,922
EW Scripps Co., Class A *
161,869
(53,907
)
14,597
123,325
Gray Media, Inc.
228,674
(187,087
)
(29,325
)
(843,908
)
98,751
 
Total
$2,468,280
$4,783,502
($2,614,918
)
($11,445,959
)
$7,221,905
$1,896,743
$325,116
(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.

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
$18,226,802,889
$
$
$18,226,802,889
Health Care Equipment & Services
968,085,979
0
*
968,085,979
Pharmaceuticals, Biotechnology & Life Sciences
2,131,120,816
0
*
2,131,120,816
Software & Services
1,414,862,724
0
*
1,414,862,724
  
69

Schwab U.S. Small-Cap 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 Investments 1
$394,081,726
$
$
$394,081,726
Futures Contracts 2
927,954
927,954
Total
$23,135,882,088
$—
$0
$23,135,882,088
*
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.
70
  

Schwab Strategic Trust
Schwab U.S. Dividend Equity ETF
Portfolio Holdings as of May 31, 2026 (Unaudited)
SECURITY
NUMBER
OF SHARES
VALUE ($)
COMMON STOCKS 99.8% OF NET ASSETS
 
Automobiles & Components 1.9%
Autoliv, Inc.
1,646,006
209,240,283
Ford Motor Co.
93,798,392
1,635,843,956
 
1,845,084,239
 
Banks 3.1%
1st Source Corp.
434,701
32,089,628
Bank OZK
2,480,119
120,012,958
Banner Corp.
817,903
53,163,695
Capital City Bank Group, Inc.
322,123
14,701,694
Central Pacific Financial Corp.
627,945
21,576,190
City Holding Co.
344,851
42,868,428
Columbia Banking System, Inc.
7,077,309
209,771,439
CVB Financial Corp.
3,058,949
62,280,202
East West Bancorp, Inc.
3,294,609
403,721,387
Fifth Third Bancorp
21,544,000
1,075,691,920
First Financial Corp.
282,197
19,522,388
German American Bancorp, Inc.
891,786
38,988,884
Hanmi Financial Corp.
707,114
21,298,274
Independent Bank Corp.
486,813
16,707,422
Lakeland Financial Corp.
607,384
36,825,692
National Bank Holdings Corp.,
Class A
1,074,286
44,937,383
OFG Bancorp
1,037,534
47,270,049
Orrstown Financial Services, Inc.
461,712
17,143,367
Preferred Bank
273,264
26,184,156
Regions Financial Corp.
20,781,783
581,889,924
S&T Bancorp, Inc.
891,872
40,214,508
 
2,926,859,588
 
Capital Goods 4.9%
Fastenal Co.
27,483,458
1,214,768,844
Lockheed Martin Corp.
4,846,385
2,570,764,923
MSC Industrial Direct Co., Inc.,
Class A
1,096,638
120,048,962
Snap-on, Inc.
1,242,015
461,048,388
Watsco, Inc.
836,311
307,009,768
 
4,673,640,885
 
Commercial & Professional Services 3.9%
Automatic Data Processing, Inc.
9,637,872
2,138,065,524
Booz Allen Hamilton Holding Corp.,
Class A
2,883,930
228,349,577
Broadridge Financial Solutions, Inc.
2,794,510
429,572,077
Ennis, Inc.
608,486
12,449,624
Insperity, Inc.
851,740
29,359,478
Korn Ferry
1,249,529
87,442,039
Paychex, Inc.
7,733,109
749,956,911
Robert Half, Inc.
2,384,697
70,205,480
 
3,745,400,710
 
Consumer Discretionary Distribution & Retail 4.0%
Best Buy Co., Inc.
4,667,552
363,835,678
Buckle, Inc.
717,431
32,908,560
SECURITY
NUMBER
OF SHARES
VALUE ($)
Home Depot, Inc.
10,078,293
3,196,229,842
Macy's, Inc.
6,355,188
138,288,891
Penske Automotive Group, Inc.
440,916
73,796,111
 
3,805,059,082
 
Consumer Durables & Apparel 0.0%
Ethan Allen Interiors, Inc.
549,886
11,338,649
Oxford Industries, Inc.
330,975
14,768,105
 
26,106,754
 
Consumer Services 0.7%
Darden Restaurants, Inc.
2,756,770
562,132,971
Vail Resorts, Inc.
855,611
114,309,630
Wendy's Co.
3,767,472
29,009,534
 
705,452,135
 
Consumer Staples Distribution & Retail 1.5%
Target Corp.
10,838,623
1,377,263,825
 
Energy 14.6%
APA Corp.
8,484,174
309,078,459
Chevron Corp.
19,996,744
3,648,605,910
ConocoPhillips
29,326,271
3,342,608,368
Devon Energy Corp.
27,558,495
1,226,077,434
EOG Resources, Inc.
12,987,876
1,732,322,901
HF Sinclair Corp.
3,742,740
261,580,099
Murphy Oil Corp.
3,209,753
116,160,961
ONEOK, Inc.
15,061,648
1,264,274,733
SLB Ltd.
35,793,013
1,952,508,859
 
13,853,217,724
 
Financial Services 3.9%
ARES Management Corp., Class A
4,931,773
633,732,831
Artisan Partners Asset Management,
Inc., Class A
1,691,203
63,318,640
Blackstone, Inc.
17,920,946
2,096,213,054
Cohen & Steers, Inc.
656,801
45,844,710
Federal Agricultural Mortgage Corp.,
Class C
223,241
39,690,017
Federated Hermes, Inc.
1,767,652
99,094,571
Moelis & Co., Class A
1,772,074
119,242,859
T. Rowe Price Group, Inc.
5,234,215
547,132,494
Virtus Investment Partners, Inc.
152,820
21,857,845
Western Union Co.
7,620,406
61,953,901
 
3,728,080,922
 
Food, Beverage & Tobacco 12.6%
Altria Group, Inc.
40,181,575
2,795,833,989
Archer-Daniels-Midland Co.
11,503,167
917,722,663
Coca-Cola Co.
47,631,233
3,763,343,719
Flowers Foods, Inc.
5,028,729
38,419,490
General Mills, Inc.
12,772,037
431,822,571
Hershey Co.
3,546,683
688,162,902
  
71

Schwab U.S. Dividend Equity ETF
Portfolio Holdings (Unaudited) continued
SECURITY
NUMBER
OF SHARES
VALUE ($)
Marzetti Co.
485,634
54,361,870
PepsiCo, Inc.
22,693,963
3,272,242,525
 
11,961,909,729
 
Health Care Equipment & Services 8.1%
Abbott Laboratories
32,891,206
2,815,487,233
UnitedHealth Group, Inc.
12,741,428
4,845,692,483
 
7,661,179,716
 
Household & Personal Products 4.4%
Interparfums, Inc.
439,296
41,456,363
Kimberly-Clark Corp.
7,945,022
775,434,147
Procter & Gamble Co.
23,499,671
3,373,612,769
 
4,190,503,279
 
Insurance 2.1%
American Financial Group, Inc.
1,657,324
215,120,655
AMERISAFE, Inc.
451,684
13,844,115
Cincinnati Financial Corp.
3,734,594
587,899,787
CNA Financial Corp.
514,318
21,632,215
Erie Indemnity Co., Class A
608,426
129,637,328
Fidelity National Financial, Inc.
6,108,752
289,249,407
Old Republic International Corp.
5,443,222
202,651,155
Principal Financial Group, Inc.
4,737,195
490,868,146
 
1,950,902,808
 
Media & Entertainment 0.1%
Nexstar Media Group, Inc.
682,534
121,784,542
 
Pharmaceuticals, Biotechnology & Life Sciences 10.3%
Amgen, Inc.
9,808,278
3,303,329,948
Bristol-Myers Squibb Co.
48,746,200
2,787,307,716
Merck & Co., Inc.
30,927,752
3,671,742,717
 
9,762,380,381
 
Semiconductors & Semiconductor Equipment 12.9%
QUALCOMM, Inc.
25,540,239
6,411,110,794
Skyworks Solutions, Inc.
3,601,923
280,409,706
Texas Instruments, Inc.
18,380,289
5,618,486,741
 
12,310,007,241
 
Software & Services 2.9%
Accenture PLC, Class A
14,728,305
2,755,224,016
 
SECURITY
NUMBER
OF SHARES
VALUE ($)
Telecommunication Services 5.9%
Comcast Corp., Class A
85,894,026
2,136,184,427
Verizon Communications, Inc.
72,656,226
3,473,694,165
 
5,609,878,592
 
Transportation 2.0%
United Parcel Service, Inc., Class B
17,688,806
1,887,218,712
 
Utilities 0.0%
Clearway Energy, Inc., Class C
824,025
33,916,869
Total Common Stocks
(Cost $80,954,606,860)
94,931,071,749
 
 
 
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS
 
Money Market Funds 0.1%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 3.56% (a)
41,401,075
41,401,075
Total Short-Term Investments
(Cost $41,401,075)
41,401,075
Total Investments in Securities
(Cost $80,996,007,935)
94,972,472,824
 
NUMBER OF
CONTRACTS
NOTIONAL
AMOUNT
($)
CURRENT VALUE/
UNREALIZED
APPRECIATION
($)
FUTURES CONTRACTS
Long
DJIA CBOT, e-mini, expires
06/18/26
502
128,203,270
3,496,853
S&P 400 Mid-Cap Index,
e-mini, expires 06/18/26
60
22,392,000
677,949
 
4,174,802
(a)
The rate shown is the annualized 7-day yield.
CBOT —
Chicago Board of Trade
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 August 31, 2025, 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
8/31/25
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 0.0% OF NET ASSETS
 
Consumer Durables & Apparel 0.0%
Oxford Industries, Inc.
$
$5,606,641
($7,803,576
)
($15,401,130
)
$14,803,303
$
$786,737

72
  

Schwab U.S. Dividend Equity 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
$94,931,071,749
$
$
$94,931,071,749
Short-Term Investments 1
41,401,075
41,401,075
Futures Contracts 2
4,174,802
4,174,802
Total
$94,976,647,626
$—
$—
$94,976,647,626
1
As categorized in the Portfolio Holdings.
2
Futures contracts are reported at cumulative unrealized appreciation or depreciation.
  
73

Schwab U.S. Equity 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.
● Level 3 — significant unobservable inputs (including the Valuation Designee’s assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not readily available for these securities, one or more valuation methods are used for which sufficient and reliable data is available. The inputs used in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated in the absence of market information. Assumptions used due to the lack of observable inputs may significantly impact the resulting fair value and therefore a fund’s results of operations.
74
  

Schwab U.S. Equity ETFs
Notes to Portfolio Holdings (Unaudited) (continued)
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.
REG89948MAY26
  
75