N-CSRS

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Semiannual Report | April 30, 2019

Schwab Equity Index Funds^®

Schwab S& P 500 Index Fund

Schwab 1000 Index^® Fund

Schwab Small-Cap Index Fund^®

Schwab Total Stock Market Index Fund^®

Schwab U.S. Large-Cap Growth
Index Fund

Schwab U.S. Large-Cap Value
Index Fund

Schwab U.S. Mid-Cap Index Fund

Schwab International Index Fund^®

New Notice Regarding Shareholder Report Delivery Options

Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically.

If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request:

• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing;

• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or

• If owned directly through a fund by calling 1-800-407-0256.

If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action.

Eight cost-efficient ways to tap into the power of the stock market for long-term growth potential.

In This Report

Performance at a Glance	2
From the President	3
The Investment Environment	5
Fund Management	7
Performance and Fund Facts
Schwab S&P 500 Index Fund	8
Schwab 1000 Index Fund	10
Schwab Small-Cap Index Fund	12
Schwab Total Stock Market Index Fund	14
Schwab U.S. Large-Cap Growth Index Fund	16
Schwab U.S. Large-Cap Value Index Fund	18
Schwab U.S. Mid-Cap Index Fund	20
Schwab International Index Fund	22
Fund Expenses	24
Financial Statements and Condensed Portfolio Holdings
Schwab S&P 500 Index Fund	25
Schwab 1000 Index Fund	32
Schwab Small-Cap Index Fund	39
Schwab Total Stock Market Index Fund	46
Schwab U.S. Large-Cap Growth Index Fund	53
Schwab U.S. Large-Cap Value Index Fund	60
Schwab U.S. Mid-Cap Index Fund	67
Schwab International Index Fund	74
Financial Notes	81
Investment Advisory Agreement Approval	92
Trustees and Officers	93
Glossary	97

Fund investment adviser: Charles Schwab Investment Management, Inc. (CSIM)

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

The Sector/Industry classifications in this report use the Global Industry Classification Standard (GICS), which was developed by, and is the exclusive property of, MSCI Inc. (MSCI) and Standard & Poor’s (S&P). GICS is a service mark of MSCI and S&P and has been licensed for use by Schwab. The Industry classifications used in the schedules of Condensed Portfolio Holdings are sub-categories of Sector classifications.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

Performance at a Glance

The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabfunds.com/schwabfunds_prospectus.

Total Return for the 6 Months Ended April 30, 2019
Schwab S&P 500 Index Fund (Ticker Symbol: SWPPX)	9.77%
S&P 500^® Index	9.76%
Fund Category: Morningstar Large Blend¹	9.02%
Performance Details	pages 8-9

Schwab 1000 Index Fund (Ticker Symbol: SNXFX)	9.99%
Schwab 1000 Index^®	10.01%
Fund Category: Morningstar Large Blend¹	9.02%
Performance Details	pages 10-11

Schwab Small-Cap Index Fund (Ticker Symbol: SWSSX)	6.08%
Russell 2000^® Index	6.06%
Fund Category: Morningstar Small Blend¹	5.23%
Performance Details	pages 12-13

Schwab Total Stock Market Index Fund (Ticker Symbol: SWTSX)	9.66%
Dow Jones U.S. Total Stock Market Index^SM	9.68%
Fund Category: Morningstar Large Blend¹	9.02%
Performance Details	pages 14-15

Total Return for the 6 Months Ended April 30, 2019
Schwab U.S. Large-Cap Growth Index Fund (Ticker Symbol: SWLGX)	12.05%
Russell 1000^® Growth Index	12.09%
Fund Category: Morningstar Large Growth¹	12.15%
Performance Details	pages 16-17

Schwab U.S. Large-Cap Value Index Fund (Ticker Symbol: SWLVX)	7.80%
Russell 1000^® Value Index	7.90%
Fund Category: Morningstar Large Value¹	6.85%
Performance Details	pages 18-19

Schwab U.S. Mid-Cap Index Fund (Ticker Symbol: SWMCX)	11.59%
Russell Midcap^® Index	11.65%
Fund Category: Morningstar Mid-Cap Blend¹	8.39%
Performance Details	pages 20-21

Schwab International Index Fund² (Ticker Symbol: SWISX)	8.01%
MSCI EAFE^® Index (Net)³	7.45%
Fund Category: Morningstar Foreign Large Blend¹	7.76%
Performance Details	pages 22-23

All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.

For index definitions, please see the Glossary.

Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares.

¹	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
²	The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information.
³	The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

From the President

Jonathan de St. Paer
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.

Dear Shareholder,

Investors are often warned that they should not overreact to sudden changes in the market, and recent swings in stock performance have certainly shown why. After declining 9.0% in the final month of 2018, the S&P 500^® Index rebounded in January, ending up with a 9.8% return for the full six-month period ended April 30, 2019. Similarly, the MSCI EAFE^® Index (Net)*, which broadly represents the performance of international stocks, returned 7.5% for the period after falling 4.9% in December. Those who stayed invested were rewarded for their patience, but many investors appear to be skeptical of recent gains. In fact, data shows that investors pulled money out of stock mutual funds late last year and continued to do so into the first months of 2019 despite the market’s recovery.

As investors, we will always be faced with market headwinds or tailwinds. At Charles Schwab Investment Management, we believe the challenge is to not let these ups and downs unduly influence investment decisions. As the adage goes, time in the market is more important than timing the market. That’s why having a long-term investing plan and a portfolio based on your individual goals and risk tolerance is important. We aim to offer products with clear objectives, straightforward pricing, and a consistent approach to investing—all of which are intended to help make it easier for investors to stay invested and focused on their long-term goals.

The Schwab Equity Index Funds are an important part of this approach. Designed to serve as part of the core of a diversified portfolio, the funds are a simple way to capture the performance of broad segments of the equity market—whether small-cap, international, value or growth. And, with among the lowest expenses in the industry with no investment minimums, the Schwab Equity Index Funds are one way we can help ensure that every investor, regardless of account size, has access to low pricing.

In keeping with our commitment to reducing investing costs, in December 2018 we further reduced the management fees of five of the Schwab Equity Index Funds. The operating expenses for the Schwab Small-Cap Index Fund and Schwab U.S. Mid-Cap Index Fund were lowered to 0.04%; Schwab U.S. Large-Cap Growth Index Fund and Schwab U.S. Large-Cap Value Index Fund were dropped to 0.035%; and the Schwab S&P 500 Index Fund was reduced to 0.02%.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

From the President (continued)

“ In keeping with our commitment to reducing investing costs, in December 2018 we further reduced the management fees of five of the Schwab Equity Index Funds.”

At Charles Schwab Investment Management, we take great pride in our role as an industry leader, and we seek to use our size and scale to continue to drive down fund costs to benefit investors. This has been a cornerstone of our philosophy—and it will continue to be.

On April 1, 2019, I transitioned into the role of Chief Executive Officer of Charles Schwab Investment Management, replacing Marie Chandoha upon her retirement. Looking back at how Charles Schwab Investment Management has grown into the market leader it is today, I believe Marie deserves particular credit. As CEO for over eight years, Marie provided the vision and leadership that has helped us stay focused on the goal of giving investors what they want and need, without unnecessary costs or complexity. It’s been my privilege to be part of the great team Marie built, and I look forward to furthering our organization’s important mission.

Thank you for investing with Charles Schwab Investment Management, and for trusting us to help you achieve your financial goals. For more information about the Schwab Equity Index Funds, please continue reading this report. In addition, you can find further details about these funds by visiting our website at www.schwabfunds.com. We are also happy to hear from you at 1-877-824-5615.

Sincerely,

Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.

Management views may have changed since the report date.

*	The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

The Investment Environment

Over the six-month reporting period ended April 30, 2019, both U.S. and international equities generated positive returns. The first two months of the reporting period were marked by significant market volatility and steep declines across global equity markets, driven by concerns about slowing international growth, trade negotiations with China, falling oil prices, the waning strength of the U.S. economy, and the pace of interest rate hikes despite low inflation. By late December, major market indices had fallen to near–bear market territory. However, as the Federal Reserve (Fed) put interest rate hikes on hold, stocks staged a strong recovery in the first four months of 2019 as investors were buoyed by renewed signs of economic strength both domestically and internationally, recovering oil prices, and a more dovish Fed. The U.S. dollar, as measured against a basket of international currencies, ended the period just below its highest level since May 2017. Small-cap stocks lagged large-caps, and growth stocks outperformed value stocks. By the end of the reporting period, several key market indices had reached new highs. For the reporting period, the S&P 500^® Index, a bellwether for the overall U.S. stock market, returned 9.76%. The Russell 2000^® Index, a U.S. small-cap company measure, returned 6.06%. Markets outside the U.S. also rebounded in the first four months of 2019 to varying degrees with the MSCI EAFE^® Index (Net)*, a broad measure of international developed equity market performance, returning 7.45% for the reporting period.

In the last two months of 2018, economies around the globe showed increasing signs of weakness, but many regained momentum at the start of 2019, demonstrating surprisingly resilient growth despite lingering uncertainties on various fronts. Global oil prices fell precipitously in the last two months of 2018 amid concerns of economic slowing, a global oil glut, and increased geopolitical risk related to North Korea and Iran, but rebounded steadily throughout the first four months of 2019 as major exporters sought to curb supply and central banks took steps to ease growth-related fears.

Asset Class Performance Comparison % returns during the 6 months ended April 30, 2019

Index figures assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized. Past performance is not an indication of future results.

For index definitions, please see the Glossary.

Data source: Index provider websites and CSIM.

Nothing in this report represents a recommendation of a security by the investment adviser.

Management views may have changed since the report date.

*	The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

The Investment Environment (continued)

In the U.S., gross domestic product (GDP) grew at an annual rate of 2.2% in the fourth quarter of 2018, down from the previous two quarters, but jumped to 3.1% for the first quarter of 2019. The labor market remained strong, with the unemployment rate hitting a 50-year low in April. Despite a tight labor market, growing economy, and recovering oil prices, inflation and wage pressure remained in check. The 35-day partial U.S. government shutdown that began in late December and extended through late January had surprisingly little effect on the market, with the exception of consumer confidence, which fell in January but subsequently rebounded as the market rallied. U.S. manufacturing slowed, however, as manufacturers grappled with a cooling global economy and uncertainty surrounding trade and tariffs. From a sector perspective, cyclical and growth-oriented sectors, such as the Consumer Discretionary, Industrials, and Information Technology sectors, generally outperformed value-oriented sectors, including the Materials and Energy sectors.

Outside the U.S., conditions were softer but most economies showed renewed strength in early 2019. The eurozone and China showed particular resiliency, with both reporting positive GDP growth in the first quarter of 2019, exceeding expectations. For the first quarter of 2019, the eurozone economy expanded by 0.4%, up from 0.2% the previous quarter. Amid ongoing Brexit-related economic and political uncertainty as well as rapidly growing wage pressures, the United Kingdom’s economy continued to show resiliency in the first few months of 2019, growing modestly in the fourth quarter of 2018 although at a slower pace than in the third quarter. Japan’s economy expanded in the fourth quarter of 2018 after having contracted the previous quarter. However, Japanese equities underperformed equities in many other international markets, contributing to the U.S. market outperforming international markets. Several other Asian economies, including China and India, also exhibited signs of slowing but still outpaced many developed economies. During much of the reporting period, trade issues dominated headlines—particularly between the U.S. and China. Following the implementation of a series of tariffs on goods and services from both sides, as of the end of the reporting period, negotiations continued between the two countries in an effort to resolve the underlying issues.

Globally, monetary policy mostly remained accommodative during the reporting period, with several central banks scaling back plans to raise interest rates. In the U.S., after raising short-term interest rates in December by 0.25%—the fourth such increase in 2018—the Fed held rates steady at its first three meetings in 2019, citing a still-healthy economy and continued low inflation, and reasserted its willingness to take a wait-and-see approach toward future rate hikes. The federal funds rate ended the reporting period in a target range of 2.25% to 2.50%. The Fed also announced that, in September 2019, it would end its program of allowing securities to mature without reinvesting the proceeds to reduce the size of its balance sheet. Outside the U.S., most central banks maintained accommodative monetary policies or, in some cases, in the face of signs of rising inflation, tightened their policies. The European Central Bank has held interest rates unchanged since early 2016 and in March announced that it would likely maintain those rates at least through the end of 2019, but ended its monthly asset purchase program in December 2018. Also in March, the Bank of Japan upheld its short-term interest rate target of –0.1%, also unchanged since 2016, and maintained its pledge to keep interest rates extremely low for an extended period. The Bank of England held its key interest rate steady at 0.75% at its March meeting and reaffirmed its pledge to gradual and limited rate hikes given ongoing concerns over the United Kingdom economy’s wider direction and intensifying uncertainties surrounding the impact of Brexit. In December, the People’s Bank of China maintained its prudent (but no longer neutral) policy stance, indicating it would place a greater focus on flexibility as its economy faces continued headwinds. Beginning in January 2019, China started a fiscal stimulus program intended to continue spurring growth within the Chinese economy. This has helped not only the Chinese economy, but the economies of other emerging market countries that are linked to the Chinese economy.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

Fund Management

Christopher Bliss, CFA, Vice President and Head of the Passive Equity Team, leads the portfolio management team for Schwab’s passive equity mutual funds and ETFs. He also has overall responsibility for all aspects of the management of the funds. Prior to joining CSIM in 2016, Mr. Bliss spent 12 years at BlackRock (formerly Barclays Global Investors) managing and leading institutional index teams, most recently as a Managing Director and Head of Americas Institutional Index team. Prior to BlackRock, he worked as an equity analyst and portfolio manager for Harris Bretall and before that, as a research analyst for JP Morgan.

Jeremy Brown, Portfolio Manager, is responsible for the day-to-day co-management of the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2017, Mr. Brown spent six years with ALPS Advisors, Inc. in Denver, most recently as a senior analyst on the ETF Portfolio Management and Research Team where he performed portfolio management, trading and analytics/research functions of ALPS ETFs and passive funds. Additionally, Mr. Brown led a number of investment research, commentary, industry trend analysis and sales and marketing support initiatives.

Chuck Craig, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. Prior to joining CSIM in 2012, Mr. Craig worked at Guggenheim Funds (formerly Claymore Group), where he spent more than five years as a managing director of portfolio management and supervision, and three years as vice president of product research and development. Prior to that, he worked as an equity research analyst at First Trust Portfolios (formerly Niké Securities), and a trader and analyst at PMA Securities, Inc.

Ferian Juwono, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors), where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and nearly two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California.

Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. Prior to joining CSIM in 2012, Ms. Qin spent more than four years at The Bank of New York Mellon Corporation. During that time, Ms. Qin spent more than two years as an associate equity portfolio manager and nearly two years as a performance analyst. She also worked at Wells Fargo Funds Management as a mutual fund analyst and at CIGNA Reinsurance in the Risk Management group as a risk analyst.

David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab International Index Fund. He joined CSIM in 2008 and became a Portfolio Manager in 2014. Prior to this role, Mr. Rios served as an Associate Portfolio Manager on the Schwab Equity Index Strategies team for four years. His first role with CSIM was as a trade operation specialist. He also previously worked as a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation).

Sabya Sinha, Portfolio Manager, is responsible for the day-to-day co-management of the funds, except for the Schwab International Index Fund. Prior to joining CSIM in 2015, Mr. Sinha spent a year at F-Squared Investments on the product development and analytics team. Prior to F-Squared, he worked at IndexIQ Advisors as a senior index portfolio manager for three years and for Bank of America’s Columbia Management subsidiary as a portfolio manager for three years.

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Schwab Equity Index Funds | Semiannual Report

Schwab S&P 500 Index Fund

Average Annual Total Returns^1,2

Fund and Inception Date	6 Months	1 Year	5 Years	10 Years
Fund: Schwab S&P 500 Index Fund (5/19/97)	9.77%	13.46%	11.55%	15.22%
S&P 500^® Index	9.76%	13.49%	11.63%	15.32%
Fund Category: Morningstar Large Blend³	9.02%	10.88%	9.71%	13.89%
Fund Expense Ratio⁴: 0.02%

For index definitions, please see the Glossary.

Index ownership – “Standard & Poor’s^®,” “S&P^®,” and “S&P 500^®” are registered trademarks of Standard & Poor’s Financial Services LLC (S&P), and “Dow Jones^®” is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones) and have been licensed for use by S& P Dow Jones Indices LLC and its affiliates and sublicensed for certain purposes by CSIM. The “S&P 500^® Index” is a product of S&P Dow Jones Indices LLC or its affiliates, and has been licensed for use by CSIM. The Schwab S&P 500 Index Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates, and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, nor their respective affiliates make any representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	On September 9, 2009, the Investor Share class, Select Share class and e.Shares class were combined into a single class of shares of the fund. The performance history of the fund prior to September 9, 2009 is that of the fund’s former Select Shares. On September 9, 2009, the Schwab Institutional Select S&P 500 Fund merged into the fund.
³	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
⁴	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab 1000 Index Fund

Average Annual Total Returns^1,2

Fund and Inception Date	6 Months	1 Year	5 Years	10 Years
Fund: Schwab 1000 Index Fund (4/2/91)	9.99%	13.17%	11.20%	15.06%
Schwab 1000 Index^®	10.01%	13.20%	11.37%	15.32%
Russell 1000^® Index	10.00%	13.33%	11.41%	15.39%
Fund Category: Morningstar Large Blend³	9.02%	10.88%	9.71%	13.89%
Fund Expense Ratio⁴: 0.05%

For index definitions, please see the Glossary.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Investor Shares.
³	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
⁴	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab Small-Cap Index Fund

Average Annual Total Returns^1,2

Fund and Inception Date	6 Months	1 Year	5 Years	10 Years
Fund: Schwab Small-Cap Index Fund (5/19/97)	6.08%	4.63%	8.67%	14.70%
Russell 2000^® Index	6.06%	4.61%	8.63%	14.10%
Small-Cap Spliced Index	6.06%	4.61%	8.63%	14.72%
Fund Category: Morningstar Small Blend³	5.23%	3.23%	7.00%	13.39%
Fund Expense Ratio⁴: 0.04%

The first index listed for the fund is the fund’s primary benchmark, as shown in the prospectus. Additional indices shown are provided for comparative purposes.

For index definitions, please see the Glossary.

Index ownership – “Russell 2000^®” is a registered mark of the Frank Russell Company (Russell) and has been licensed for use by the Schwab Small-Cap Index Fund. The Schwab Small-Cap Index Fund is not sponsored, endorsed, sold or promoted by Russell and Russell makes no representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares.
³	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
⁴	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab Total Stock Market Index Fund

Average Annual Total Returns^1,2

Fund and Inception Date	6 Months	1 Year	5 Years	10 Years
Fund: Schwab Total Stock Market Index Fund (6/1/99)	9.66%	12.57%	11.10%	15.22%
Dow Jones U.S. Total Stock Market Index^SM	9.68%	12.58%	11.14%	15.30%
Fund Category: Morningstar Large Blend³	9.02%	10.88%	9.71%	13.89%
Fund Expense Ratio⁴: 0.03%

For index definitions, please see the Glossary.

Index ownership – “Standard & Poor’s^®” and “S&P^®” are registered trademarks of Standard & Poor’s Financial Services LLC (S&P), and “Dow Jones^®” is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones) and have been licensed for use by S& P Dow Jones Indices LLC and its affiliates and sublicensed for certain purposes by CSIM. The “Dow Jones U.S. Total Stock Market Index^SM” is a product of S&P Dow Jones Indices LLC or its affiliates, and has been licensed for use by CSIM. The Schwab Total Stock Market Index Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates, and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, nor their respective affiliates make any representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Select Shares.
³	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
⁴	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab U.S. Large-Cap Growth Index Fund

Average Annual Returns¹

Fund and Inception Date	6 Months	1 Year	Since Inception
Fund: Schwab U.S. Large-Cap Growth Index Fund (12/20/17)	12.05%	17.34%	13.41%
Russell 1000^® Growth Index	12.09%	17.43%	13.49%
Fund Category: Morningstar Large Growth²	12.15%	14.77%	N/A
Fund Expense Ratio³: 0.035%

For index definitions, please see the Glossary.

Index ownership – The Russell 1000^® Growth Index is a registered mark of the Frank Russell Company (Russell) and has been licensed for use by the Schwab U.S. Large-Cap Growth Index Fund. The Schwab U.S. Large-Cap Growth Index Fund is not sponsored, endorsed, sold or promoted by Russell and Russell makes no representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
³	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab U.S. Large-Cap Value Index Fund

Average Annual Returns¹

Fund and Inception Date	6 Months	1 Year	Since Inception
Fund: Schwab U.S. Large-Cap Value Index Fund (12/20/17)	7.80%	8.90%	4.72%
Russell 1000^® Value Index	7.90%	9.06%	4.83%
Fund Category: Morningstar Large Value²	6.85%	7.41%	N/A
Fund Expense Ratio³: 0.035%

For index definitions, please see the Glossary.

Index ownership – The Russell 1000^® Value Index is a registered mark of the Frank Russell Company (Russell) and has been licensed for use by the Schwab U.S. Large-Cap Value Index Fund. The Schwab U.S. Large-Cap Value Index Fund is not sponsored, endorsed, sold or promoted by Russell and Russell makes no representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
³	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab U.S. Mid-Cap Index Fund

Average Annual Returns¹

Fund and Inception Date	6 Months	1 Year	Since Inception
Fund: Schwab U.S. Mid-Cap Index Fund (12/20/17)	11.59%	10.58%	7.49%
Russell Midcap^® Index	11.65%	10.69%	7.57%
Fund Category: Morningstar Mid-Cap Blend²	8.39%	6.25%	N/A
Fund Expense Ratio³: 0.04%

For index definitions, please see the Glossary.

Index ownership – The Russell Midcap^® Index is a registered mark of the Frank Russell Company (Russell) and has been licensed for use by the Schwab U.S. Mid-Cap Index Fund. The Schwab U.S. Mid-Cap Index Fund is not sponsored, endorsed, sold or promoted by Russell and Russell makes no representation regarding the advisability of investing in the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
³	As stated in the prospectus.

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Schwab Equity Index Funds | Semiannual Report

Schwab International Index Fund

Average Annual Total Returns^1,2

Fund and Inception Date	6 Months	1 Year	5 Years	10 Years
Fund: Schwab International Index Fund (5/19/97)	8.01%	-2.46%	2.61%	8.02%
MSCI EAFE^® Index (Net)³	7.45%	-3.22%	2.60%	7.95%
International Spliced Index	7.45%	-3.22%	2.60%	7.99%
Fund Category: Morningstar Foreign Large Blend⁴	7.76%	-3.71%	2.52%	7.56%
Fund Expense Ratio⁵: 0.06%

The first index listed for the fund is the fund’s primary benchmark, as shown in the prospectus. Additional indices shown are provided for comparative purposes.

For index definitions, please see the Glossary.

The fund’s performance relative to the index may be affected by fair-value pricing, see financial note 2 for more information.

Index ownership – “MSCI EAFE^®” is a registered mark of MSCI and has been licensed for use by the Schwab International Index Fund. The Schwab International Index Fund is not sponsored, endorsed, sold or promoted by MSCI and MSCI bears no liability with respect to the fund. The Statement of Additional Information contains a more detailed description of the limited relationship MSCI has with the fund.

¹	Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
²	On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares.
³	The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes.
⁴	Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date.
⁵	As stated in the prospectus.

₂₂

Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

Fund Expenses (Unaudited)

Examples for a $1,000 Investment

As a fund shareholder, you may incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees.

The expense examples below are intended to help you understand your ongoing cost (in dollars) of investing in a fund and to compare this cost with the ongoing cost of investing in other mutual funds. These examples are based on an investment of $1,000 invested for six months beginning November 1, 2018 and held through April 30, 2019.

Actual Return lines in the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number given for your fund under the heading entitled “Expenses Paid During Period.”

Hypothetical Return lines in the table below provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed return of 5% per year before expenses. Because the return used is not an actual return, it may not be used to estimate the actual ending account value or expenses you paid for the period.

You may use this information to compare the ongoing costs of investing in a fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs. Therefore, the hypothetical return lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Expense Ratio (Annualized)¹	Beginning Account Value at 11/1/18	Ending Account Value (Net of Expenses) at 4/30/19	Expenses Paid During Period 11/1/18-4/30/19²
Schwab S&P 500 Index Fund
Actual Return	0.02%	$1,000.00	$1,097.70	$0.10
Hypothetical 5% Return	0.02%	$1,000.00	$1,024.70	$0.10
Schwab 1000 Index Fund
Actual Return	0.05%	$1,000.00	$1,099.90	$0.26
Hypothetical 5% Return	0.05%	$1,000.00	$1,024.55	$0.25
Schwab Small-Cap Index Fund
Actual Return	0.04%	$1,000.00	$1,060.80	$0.20
Hypothetical 5% Return	0.04%	$1,000.00	$1,024.60	$0.20
Schwab Total Stock Market Index Fund
Actual Return	0.03%	$1,000.00	$1,096.60	$0.16
Hypothetical 5% Return	0.03%	$1,000.00	$1,024.65	$0.15
Schwab U.S. Large-Cap Growth Index Fund
Actual Return	0.036%	$1,000.00	$1,120.50	$0.19
Hypothetical 5% Return	0.036%	$1,000.00	$1,024.62	$0.18
Schwab U.S. Large-Cap Value Index Fund
Actual Return	0.036%	$1,000.00	$1,078.00	$0.19
Hypothetical 5% Return	0.036%	$1,000.00	$1,024.62	$0.18
Schwab U.S. Mid-Cap Index Fund
Actual Return	0.04%	$1,000.00	$1,115.90	$0.21
Hypothetical 5% Return	0.04%	$1,000.00	$1,024.60	$0.20
Schwab International Index Fund
Actual Return	0.06%	$1,000.00	$1,080.10	$0.31
Hypothetical 5% Return	0.06%	$1,000.00	$1,024.50	$0.30

¹	Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights.
²	Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 181 days of the period, and divided by the 365 days of the fiscal year.

₂₄

Schwab Equity Index Funds | Semiannual Report

Schwab S&P 500 Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	11/1/17– 10/31/18	11/1/16– 10/31/17	11/1/15– 10/31/16	11/1/14– 10/31/15	11/1/13– 10/31/14
Per-Share Data
Net asset value at beginning of period	$42.41	$40.23	$33.38	$33.00	$31.99	$27.78
Income (loss) from investment operations:
Net investment income (loss)	0.49 ¹	0.80 ¹	0.74 ¹	0.69 ¹	0.67 ¹	0.56
Net realized and unrealized gains (losses)	3.42	2.12	6.99	0.69	0.92	4.13
Total from investment operations	3.91	2.92	7.73	1.38	1.59	4.69
Less distributions:
Distributions from net investment income	(0.84)	(0.72)	(0.69)	(0.68)	(0.58)	(0.48)
Distributions from net realized gains	(0.18)	(0.02)	(0.19)	(0.32)	—	—
Total distributions	(1.02)	(0.74)	(0.88)	(1.00)	(0.58)	(0.48)
Net asset value at end of period	$45.30	$42.41	$40.23	$33.38	$33.00	$31.99
Total return	9.77% ²	7.29%	23.57%	4.40%	5.10%	17.16%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.02% ³^,⁴	0.03%	0.05% ⁵	0.09%	0.09%	0.09%
Net operating expenses	N/A	N/A ⁶	0.05% ⁵	0.09%	0.09%	0.09%
Net investment income (loss)	2.34% ³	1.88%	2.01%	2.12%	2.07%	1.89%
Portfolio turnover rate	1% ²	2%	2%	2%	2%	2%
Net assets, end of period (x 1,000,000)	$38,483	$34,410	$29,999	$22,675	$21,587	$20,473

*	Unaudited.

Calculated based on the average shares outstanding during the period.

Not annualized.

Annualized.

⁴

Effective December 20, 2018, the annual operating expense ratio was reduced to 0.02%. The ratio presented for period ended 4/30/19 is a blended ratio. (See financial note 4)

⁵

Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for period ended 10/31/17 is a blended ratio.

⁶

Effective March 1, 2017, the fund instituted a new fee structure and the contractual expense limitation was terminated.

₂₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows the fund’s 50 largest portfolio holdings in unaffiliated issuers, any holdings exceeding 1% of the fund’s net assets as of the report date, and any affiliated issuers. The remaining securities held by the fund are grouped as "Other Securities" in each category. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by calling Schwab Funds^® at 1-877-824-5615. This complete schedule, filed on the fund’s N-CSR(S), is also available on the U.S. Securities and Exchange Commission (SEC)’s website at www.sec.gov.

In addition, the fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website. Effective March 31, 2019, Form N-PORT Part F has replaced Form N-Q. The fund also makes available its complete schedule of portfolio holdings 15-20 days after the end of the month on the fund’s website at www.schwabfunds.com/schwabfunds_prospectus.

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 0.5%
Other Securities		0.5	201,510,260

Banks 5.7%
Bank of America Corp.	14,043,116	1.1	429,438,487
Citigroup, Inc.	3,676,744	0.7	259,945,801
JPMorgan Chase & Co.	5,118,002	1.5	593,944,132
Wells Fargo & Co.	6,399,992	0.8	309,823,613
Other Securities		1.6	594,406,682
		5.7	2,187,558,715

Capital Goods 6.7%
Honeywell International, Inc.	1,140,223	0.5	197,976,919
The Boeing Co.	821,372	0.8	310,223,991
United Technologies Corp.	1,266,497	0.5	180,615,137
Other Securities		4.9	1,878,130,290
		6.7	2,566,946,337

Commercial & Professional Services 0.7%
Other Securities		0.7	270,051,000

Consumer Durables & Apparel 1.1%
NIKE, Inc., Class B	1,968,908	0.4	172,929,190
Other Securities		0.7	266,714,546
		1.1	439,643,736

Consumer Services 1.9%
McDonald's Corp.	1,196,780	0.6	236,447,825
Other Securities		1.3	487,187,547
		1.9	723,635,372

Diversified Financials 5.2%
Berkshire Hathaway, Inc., Class B *	3,039,609	1.7	658,713,666
The Charles Schwab Corp. (a)	1,843,741	0.2	84,406,463
Other Securities		3.3	1,243,506,714
		5.2	1,986,626,843

Energy 5.2%
Chevron Corp.	2,969,586	0.9	356,528,495
Exxon Mobil Corp.	6,622,029	1.4	531,616,488
Other Securities		2.9	1,115,062,310
		5.2	2,003,207,293

Security	Number of Shares	% of Net Assets	Value ($)
Food & Staples Retailing 1.4%
Walmart, Inc.	2,225,530	0.6	228,873,505
Other Securities		0.8	319,999,031
		1.4	548,872,536

Food, Beverage & Tobacco 3.9%
PepsiCo, Inc.	2,195,501	0.7	281,133,903
Philip Morris International, Inc.	2,429,831	0.5	210,326,171
The Coca-Cola Co.	6,014,582	0.8	295,075,393
Other Securities		1.9	722,804,081
		3.9	1,509,339,548

Health Care Equipment & Services 5.9%
Abbott Laboratories	2,746,714	0.6	218,528,566
Medtronic plc	2,097,556	0.5	186,283,948
UnitedHealth Group, Inc.	1,500,357	0.9	349,688,206
Other Securities		3.9	1,526,977,013
		5.9	2,281,477,733

Household & Personal Products 1.9%
The Procter & Gamble Co.	3,910,382	1.1	416,377,475
Other Securities		0.8	293,855,859
		1.9	710,233,334

Insurance 2.4%
Other Securities		2.4	918,520,414

Materials 2.7%
Other Securities		2.7	1,023,080,632

Media & Entertainment 8.4%
Alphabet, Inc., Class A *	468,088	1.5	561,218,789
Alphabet, Inc., Class C *	480,360	1.5	570,898,253
Comcast Corp., Class A	7,060,172	0.8	307,329,287
Facebook, Inc., Class A *	3,729,248	1.9	721,236,563
Netflix, Inc. *	682,709	0.7	252,970,993
The Walt Disney Co.	2,729,758	1.0	373,894,953
Other Securities		1.0	436,634,095
		8.4	3,224,182,933

Pharmaceuticals, Biotechnology & Life Sciences 7.7%
AbbVie, Inc.	2,306,422	0.5	183,106,843
Amgen, Inc.	973,104	0.5	174,497,009
Johnson & Johnson	4,162,672	1.5	587,769,286
Merck & Co., Inc.	4,034,058	0.8	317,520,705
Pfizer, Inc.	8,678,781	0.9	352,445,296

₂₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Thermo Fisher Scientific, Inc.	629,668	0.5	174,701,387
Other Securities		3.0	1,161,331,379
		7.7	2,951,371,905

Real Estate 3.0%
Other Securities		3.0	1,134,547,343

Retailing 6.7%
Amazon.com, Inc. *	645,033	3.2	1,242,668,975
The Home Depot, Inc.	1,766,404	0.9	359,816,495
Other Securities		2.6	991,406,342
		6.7	2,593,891,812

Semiconductors & Semiconductor Equipment 4.0%
Broadcom, Inc.	619,181	0.5	197,147,230
Intel Corp.	7,029,443	0.9	358,782,771
Other Securities		2.6	982,574,067
		4.0	1,538,504,068

Software & Services 11.8%
Accenture plc, Class A	997,421	0.5	182,198,894
Adobe, Inc. *	762,452	0.6	220,539,241
International Business Machines Corp.	1,391,153	0.5	195,137,031
Mastercard, Inc., Class A	1,410,982	0.9	358,728,064
Microsoft Corp.	11,992,440	4.1	1,566,212,664
Oracle Corp.	3,982,164	0.6	220,333,134
PayPal Holdings, Inc. *	1,834,223	0.5	206,845,328
salesforce.com, Inc. *	1,196,061	0.5	197,768,686
Visa, Inc., Class A	2,735,659	1.2	449,824,409
Other Securities		2.4	958,298,263
		11.8	4,555,885,714

Technology Hardware & Equipment 5.8%
Apple, Inc.	7,002,623	3.7	1,405,216,358
Cisco Systems, Inc.	6,879,205	1.0	384,891,520
Other Securities		1.1	438,227,199
		5.8	2,228,335,077

Telecommunication Services 1.9%
AT&T, Inc.	11,388,099	0.9	352,575,545
Verizon Communications, Inc.	6,458,401	1.0	369,355,953
Other Securities		0.0	16,946,743
		1.9	738,878,241

Security	Number of Shares	% of Net Assets	Value ($)
Transportation 2.1%
Union Pacific Corp.	1,129,897	0.5	200,036,965
Other Securities		1.6	602,491,155
		2.1	802,528,120

Utilities 3.2%
Other Securities		3.2	1,240,503,343
Total Common Stock
(Cost $19,402,366,081)			38,379,332,309

Other Investment Company 0.0% of net assets

Securities Lending Collateral 0.0%
Other Securities		0.0	7,417,454
Total Other Investment Company
(Cost $7,417,454)			7,417,454
Security Rate, Maturity Date	Face Amount ($)	% of Net Assets	Value ($)
Short-Term Investment 0.1% of net assets

Time Deposit 0.1%
Other Securities		0.1	42,275,468
Total Short-Term Investment
(Cost $42,275,468)			42,275,468

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
S&P 500 Index, e-mini, expires 06/21/19	695	102,460,375	1,308,493

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	Issuer is affiliated with the fund’s investment adviser.
(b)	All or a portion of this security is on loan. Securities on loan were valued at $7,171,117.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the current daily overnight rate.

The fund owns shares of an affiliate, The Charles Schwab Corp., since that company is included in its index. Below is the summary of investment activities involving The Charles Schwab Corp. shares owned by the fund during the period ended April 30, 2019:

	Balance of Shares Held at 10/31/18	Gross Purchases	Gross Sales	Balance of Shares Held at 04/30/19	Market Value at 04/30/19	Net Change in Unrealized Appreciation (depreciation)	Realized Gains (Losses)	Dividends Received
The Charles Schwab Corp.	1,787,189	67,152	(10,600)	1,843,741	$84,406,463	($596,859)	($121,720)	$545,558

₂₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	11/1/17– 10/31/18	11/1/16– 10/31/17	11/1/15– 10/31/16	11/1/14– 10/31/15	11/1/13– 10/31/14
Per-Share Data
Net asset value at beginning of period	$64.19	$62.61	$52.40	$53.67	$53.63	$48.31
Income (loss) from investment operations:
Net investment income (loss)¹	0.70	1.18	1.08	0.95	0.94	0.83
Net realized and unrealized gains (losses)	4.88	3.05	10.96	0.92	1.40	6.74
Total from investment operations	5.58	4.23	12.04	1.87	2.34	7.57
Less distributions:
Distributions from net investment income	(1.28)	(1.10)	(0.97)	(0.96)	(0.86)	(0.75)
Distributions from net realized gains	(2.34)	(1.55)	(0.86)	(2.18)	(1.44)	(1.50)
Total distributions	(3.62)	(2.65)	(1.83)	(3.14)	(2.30)	(2.25)
Net asset value at end of period	$66.15	$64.19	$62.61	$52.40	$53.67	$53.63
Total return	9.99% ²	6.84%	23.52%	3.87%	4.66%	16.36%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.05% ³	0.05%	0.14% ⁴	0.33%	0.33%	0.33%
Net operating expenses	N/A	N/A ⁵	0.12% ⁴	0.29%	0.29%	0.29%
Net investment income (loss)	2.28% ³	1.82%	1.87%	1.86%	1.77%	1.64%
Portfolio turnover rate	2% ²	4%	5%	3%	4%	4%
Net assets, end of period (x 1,000,000)	$8,543	$7,909	$7,681	$6,432	$6,550	$6,586

*	Unaudited.

Calculated based on the average shares outstanding during the period.

Not annualized.

Annualized.

⁴

Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for period ended 10/31/17 is a blended ratio.

⁵

Effective March 1, 2017, the fund instituted a new fee structure and the contractual expense limitation was terminated.

₃₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 0.7%
Other Securities		0.7	58,888,031

Banks 5.7%
Bank of America Corp.	2,771,749	1.0	84,760,084
Citigroup, Inc.	725,617	0.6	51,301,122
JPMorgan Chase & Co.	1,010,255	1.4	117,240,093
Wells Fargo & Co.	1,263,346	0.7	61,158,580
Other Securities		2.0	168,695,340
		5.7	483,155,219

Capital Goods 6.8%
Honeywell International, Inc.	224,714	0.5	39,017,092
The Boeing Co.	162,141	0.7	61,239,034
United Technologies Corp.	250,083	0.4	35,664,337
Other Securities		5.2	447,196,087
		6.8	583,116,550

Commercial & Professional Services 0.9%
Other Securities		0.9	72,678,666

Consumer Durables & Apparel 1.2%
Other Securities		1.2	105,571,077

Consumer Services 2.2%
McDonald's Corp.	236,030	0.5	46,632,447
Other Securities		1.7	139,415,273
		2.2	186,047,720

Diversified Financials 5.2%
Berkshire Hathaway, Inc., Class B *	600,015	1.5	130,029,251
The Charles Schwab Corp. (b)	364,332	0.2	16,679,119
Other Securities		3.5	299,253,631
		5.2	445,962,001

Energy 4.9%
Chevron Corp.	586,253	0.8	70,385,535
Exxon Mobil Corp.	1,307,315	1.2	104,951,248
Other Securities		2.9	240,799,646
		4.9	416,136,429

Security	Number of Shares	% of Net Assets	Value ($)
Food & Staples Retailing 1.3%
Walmart, Inc.	439,297	0.5	45,177,303
Other Securities		0.8	69,324,236
		1.3	114,501,539

Food, Beverage & Tobacco 3.6%
PepsiCo, Inc.	433,344	0.6	55,489,699
Philip Morris International, Inc.	479,663	0.5	41,519,629
The Coca-Cola Co.	1,187,049	0.7	58,236,624
Other Securities		1.8	156,118,777
		3.6	311,364,729

Health Care Equipment & Services 5.8%
Abbott Laboratories	542,024	0.5	43,123,429
Medtronic plc	413,806	0.4	36,750,111
UnitedHealth Group, Inc.	296,027	0.8	68,995,013
Other Securities		4.1	345,150,478
		5.8	494,019,031

Household & Personal Products 1.7%
The Procter & Gamble Co.	771,698	1.0	82,170,403
Other Securities		0.7	60,694,552
		1.7	142,864,955

Insurance 2.7%
Other Securities		2.7	226,887,628

Materials 2.8%
Other Securities		2.8	241,404,428

Media & Entertainment 8.0%
Alphabet, Inc., Class A *	92,381	1.3	110,761,124
Alphabet, Inc., Class C *	94,845	1.3	112,721,386
Comcast Corp., Class A	1,393,728	0.7	60,668,980
Facebook, Inc., Class A *	736,126	1.7	142,366,768
Netflix, Inc. *	134,738	0.6	49,925,819
The Walt Disney Co.	538,897	0.9	73,812,722
Other Securities		1.5	131,869,139
		8.0	682,125,938

Pharmaceuticals, Biotechnology & Life Sciences 7.4%
AbbVie, Inc.	455,199	0.4	36,138,249
Amgen, Inc.	192,031	0.4	34,434,999
Johnson & Johnson	821,870	1.4	116,048,044
Merck & Co., Inc.	796,409	0.7	62,685,352
Pfizer, Inc.	1,712,805	0.8	69,557,011

₃₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Thermo Fisher Scientific, Inc.	124,309	0.4	34,489,532
Other Securities		3.3	281,563,599
		7.4	634,916,786

Real Estate 3.7%
Other Securities		3.7	313,289,243

Retailing 6.3%
Amazon.com, Inc. *	127,321	2.9	245,286,453
The Home Depot, Inc.	348,495	0.8	70,988,431
Other Securities		2.6	219,835,410
		6.3	536,110,294

Semiconductors & Semiconductor Equipment 3.9%
Broadcom, Inc.	122,242	0.5	38,921,853
Intel Corp.	1,387,754	0.8	70,830,964
Texas Instruments, Inc.	289,712	0.4	34,136,765
Other Securities		2.2	185,020,799
		3.9	328,910,381

Software & Services 12.4%
Accenture plc, Class A	196,694	0.4	35,930,093
Adobe, Inc. *	150,551	0.5	43,546,877
International Business Machines Corp.	274,598	0.5	38,517,861
Mastercard, Inc., Class A	278,587	0.8	70,827,959
Microsoft Corp.	2,367,484	3.6	309,193,410
Oracle Corp.	786,289	0.5	43,505,370
PayPal Holdings, Inc. *	362,112	0.5	40,835,370
salesforce.com, Inc. *	236,175	0.5	39,051,536
Visa, Inc., Class A	540,102	1.0	88,808,972
Other Securities		4.1	352,776,354
		12.4	1,062,993,802

Technology Hardware & Equipment 5.6%
Apple, Inc.	1,382,281	3.2	277,382,328
Cisco Systems, Inc.	1,358,403	0.9	76,002,648
Other Securities		1.5	124,509,033
		5.6	477,894,009

Telecommunication Services 1.8%
AT&T, Inc.	2,247,728	0.8	69,589,659
Verizon Communications, Inc.	1,275,005	0.9	72,917,536
Other Securities		0.1	14,690,659
		1.8	157,197,854

Security	Number of Shares	% of Net Assets	Value ($)
Transportation 2.0%
Union Pacific Corp.	223,089	0.5	39,495,677
Other Securities		1.5	134,360,793
		2.0	173,856,470

Utilities 3.2%
Other Securities		3.2	273,752,826
Total Common Stock
(Cost $2,208,531,503)			8,523,645,606

Other Investment Companies 0.2% of net assets

Money Market Fund 0.1%
Other Securities		0.1	8,158,119

Securities Lending Collateral 0.1%
Other Securities		0.1	11,378,750
Total Other Investment Companies
(Cost $19,536,869)			19,536,869

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
S&P 500 Index, e-mini, expires 06/21/19	128	18,870,400	667,211

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $11,008,300.
(b)	Issuer is affiliated with the fund's investment adviser.
(c)	The rate shown is the 7-day yield.

REIT —

Real Estate Investment Trust

	Balance of Shares Held at 10/31/18	Gross Purchases	Gross Sales	Balance of Shares Held at 04/30/19	Market Value at 04/30/19	Net Change in Unrealized Appreciation (depreciation)	Realized Gains (Losses)	Dividends Received
The Charles Schwab Corp.	368,065	—	(3,733)	364,332	$16,679,119	($131,357)	($40,850)	$110,125

₃₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	11/1/17– 10/31/18	11/1/16– 10/31/17	11/1/15– 10/31/16	11/1/14– 10/31/15	11/1/13– 10/31/14
Per-Share Data
Net asset value at beginning of period	$30.48	$31.45	$25.60	$26.29	$28.13	$27.62
Income (loss) from investment operations:
Net investment income (loss)¹	0.25	0.43	0.38	0.39	0.38	0.35
Net realized and unrealized gains (losses)	1.00	0.20	6.62	0.59	(0.34)	1.76
Total from investment operations	1.25	0.63	7.00	0.98	0.04	2.11
Less distributions:
Distributions from net investment income	(0.40)	(0.39)	(0.39)	(0.36)	(0.34)	(0.31)
Distributions from net realized gains	(2.18)	(1.21)	(0.76)	(1.31)	(1.54)	(1.29)
Total distributions	(2.58)	(1.60)	(1.15)	(1.67)	(1.88)	(1.60)
Net asset value at end of period	$29.15	$30.48	$31.45	$25.60	$26.29	$28.13
Total return	6.08% ²	1.93%	27.84%	4.17%	0.36%	8.08%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.04% ³^,⁴	0.05%	0.10% ⁵	0.20%	0.20%	0.21%
Net operating expenses	N/A	N/A ⁶	0.09% ⁵	0.17%	0.17%	0.17%
Net investment income (loss)	1.78% ³	1.33%	1.31%	1.60%	1.37%	1.27%
Portfolio turnover rate	3% ²	17%	11%	17%	17%	12%
Net assets, end of period (x 1,000,000)	$4,237	$3,874	$3,531	$2,619	$2,607	$2,567

*	Unaudited.

Calculated based on the average shares outstanding during the period.

Not annualized.

Annualized.

⁴

Effective December 20, 2018, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 4/30/19 is a blended ratio. (See financial note 4)

⁵

Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for period ended 10/31/17 is a blended ratio.

⁶

Effective March 1, 2017, the fund instituted a new fee structure and the contractual expense limitation was terminated.

₃₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 1.0%
Other Securities		1.0	43,759,598

Banks 11.6%
Essent Group Ltd. *	194,579	0.2	9,232,774
IBERIABANK Corp.	112,348	0.2	8,931,666
MGIC Investment Corp. *	718,589	0.2	10,520,143
Radian Group, Inc.	438,183	0.2	10,262,246
Other Securities		10.8	453,462,847
		11.6	492,409,676

Capital Goods 9.3%
EMCOR Group, Inc.	116,059	0.2	9,765,204
Woodward, Inc.	108,411	0.3	11,805,958
Other Securities		8.8	370,777,838
		9.3	392,349,000

Commercial & Professional Services 4.1%
Insperity, Inc.	77,607	0.2	9,278,693
Other Securities		3.9	165,212,089
		4.1	174,490,782

Consumer Durables & Apparel 2.9%
Deckers Outdoor Corp. *	59,195	0.2	9,365,241
Other Securities		2.7	113,268,372
		2.9	122,633,613

Consumer Services 3.8%
Planet Fitness, Inc., Class A *	179,034	0.3	13,552,874
Other Securities		3.5	146,168,899
		3.8	159,721,773

Diversified Financials 3.3%
FirstCash, Inc.	86,398	0.2	8,439,357
Stifel Financial Corp.	140,700	0.2	8,395,569
Other Securities		2.9	124,722,550
		3.3	141,557,476

Energy 3.5%
Other Securities		3.5	150,343,377

Security	Number of Shares	% of Net Assets	Value ($)
Food & Staples Retailing 0.7%
Performance Food Group Co. *	206,049	0.2	8,437,707
Other Securities		0.5	19,360,823
		0.7	27,798,530

Food, Beverage & Tobacco 1.6%
Other Securities		1.6	67,615,362

Health Care Equipment & Services 6.2%
Haemonetics Corp. *	103,894	0.2	9,067,868
Medidata Solutions, Inc. *	117,003	0.2	10,570,051
Other Securities		5.8	243,117,933
		6.2	262,755,852

Household & Personal Products 0.5%
Other Securities		0.5	21,527,015

Insurance 2.7%
Kemper Corp.	106,753	0.2	9,594,960
Primerica, Inc.	87,259	0.3	11,368,975
Selective Insurance Group, Inc.	117,482	0.2	8,377,641
Other Securities		2.0	84,688,185
		2.7	114,029,761

Materials 3.8%
Ingevity Corp. *	85,922	0.2	9,881,889
Other Securities		3.6	151,251,209
		3.8	161,133,098

Media & Entertainment 2.6%
Nexstar Media Group, Inc., Class A	90,751	0.3	10,622,405
The New York Times Co., Class A	266,445	0.2	8,832,652
Other Securities		2.1	89,488,578
		2.6	108,943,635

Pharmaceuticals, Biotechnology & Life Sciences 8.8%
Array BioPharma, Inc. *	426,902	0.2	9,652,254
Horizon Pharma plc *	365,253	0.2	9,324,909
Other Securities		8.4	353,315,747
		8.8	372,292,910

Real Estate 7.4%
Americold Realty Trust	319,846	0.2	10,238,270
First Industrial Realty Trust, Inc.	251,905	0.2	8,884,689

₄₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Pebblebrook Hotel Trust	262,649	0.2	8,551,851
Other Securities		6.8	287,341,593
		7.4	315,016,403

Retailing 4.4%
Etsy, Inc. *	241,963	0.4	16,342,181
Five Below, Inc. *	110,654	0.4	16,198,639
Ollie's Bargain Outlet Holdings, Inc. *	100,750	0.2	9,635,730
Other Securities		3.4	142,384,492
		4.4	184,561,042

Semiconductors & Semiconductor Equipment 2.8%
Cree, Inc. *	209,323	0.3	13,834,157
Entegris, Inc.	287,559	0.3	11,749,661
Silicon Laboratories, Inc. *	87,046	0.2	9,371,372
Other Securities		2.0	82,402,187
		2.8	117,357,377

Software & Services 8.3%
CACI International, Inc., Class A *	49,774	0.2	9,702,943
Coupa Software, Inc. *	112,873	0.3	11,663,167
HubSpot, Inc. *	74,895	0.3	13,817,378
MAXIMUS, Inc.	129,422	0.2	9,531,930
New Relic, Inc. *	91,280	0.2	9,606,307
The Trade Desk, Inc., Class A *	67,461	0.4	14,941,262
Zscaler, Inc. *	123,316	0.2	8,423,716
Other Securities		6.5	272,984,237
		8.3	350,670,940

Technology Hardware & Equipment 4.6%
Ciena Corp. *	290,425	0.3	11,140,703
Lumentum Holdings, Inc. *	153,804	0.2	9,531,234
SYNNEX Corp.	84,299	0.2	9,094,176
ViaSat, Inc. *	112,233	0.2	10,193,001
Other Securities		3.7	156,421,279
		4.6	196,380,393

Telecommunication Services 0.7%
Other Securities		0.7	29,730,377

Transportation 1.4%
Other Securities		1.4	60,395,433

Utilities 3.7%
ALLETE, Inc.	104,372	0.2	8,501,099
IDACORP, Inc.	102,229	0.2	10,122,716
New Jersey Resources Corp.	176,405	0.2	8,834,362
ONE Gas, Inc.	105,705	0.2	9,357,007
Portland General Electric Co.	181,189	0.2	9,477,997
Southwest Gas Holdings, Inc. *	107,318	0.2	8,927,784
Spire, Inc.	99,891	0.2	8,409,823
Other Securities		2.3	91,778,592
		3.7	155,409,380
Total Common Stock
(Cost $3,150,705,444)			4,222,882,803

Security	Number of Shares	% of Net Assets	Value ($)
Rights 0.0% of net assets

Materials 0.0%
Other Securities		0.0	22,031

Media & Entertainment 0.0%
Other Securities		0.0	14,883

Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Other Securities		0.0	170,679
Total Rights
(Cost $31,873)			207,593

Other Investment Company 1.5% of net assets

Securities Lending Collateral 1.5%
Wells Fargo Government Money Market Fund, Select Class 2.36% (c)	65,884,644	1.5	65,884,644
Total Other Investment Company
(Cost $65,884,644)			65,884,644
Security Rate, Maturity Date	Face Amount ($)	% of Net Assets	Value ($)
Short-Term Investment 0.2% of net assets

Time Deposit 0.2%
Other Securities		0.2	7,559,344
Total Short-Term Investment
(Cost $7,559,344)			7,559,344

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
Russell 2000 Index, e-mini, expires 06/21/19	159	12,673,890	60,777

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $63,175,245.
(b)	Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the current daily overnight rate.

CVR —	Contingent Value Rights
REIT —	Real Estate Investment Trust

₄₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

The following is a summary of the inputs used to value the fund’s investments as of April 30, 2019 and reflects the complete schedule of portfolio holdings (see financial note 2(a) for additional information):

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 Stock¹	$4,061,749,705	$—	$—	$4,061,749,705
Materials	161,133,098	—	— ^*	161,133,098
Rights ¹
Materials	—	—	22,031	22,031
Media & Entertainment	—	—	14,883	14,883
Pharmaceuticals, Biotechnology & Life Sciences	—	—	170,679 ^*	170,679
Other Investment Company¹	65,884,644	—	—	65,884,644
Short-Term Investment¹	—	7,559,344	—	7,559,344
Futures Contracts²	60,777	—	—	60,777
Total	$4,288,828,224	$7,559,344	$207,593	$4,296,595,161

*	Level 3 amount shown includes securities determined to have no value at April 30, 2019.
¹	As categorized in the complete schedule of Portfolio Holdings.
²	Futures contracts are valued at unrealized appreciation or depreciation.

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

₄₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	11/1/17– 10/31/18	11/1/16– 10/31/17	11/1/15– 10/31/16	11/1/14– 10/31/15	11/1/13– 10/31/14
Per-Share Data
Net asset value at beginning of period	$48.38	$46.25	$38.19	$37.69	$36.96	$32.53
Income (loss) from investment operations:
Net investment income (loss)	0.53 ¹	0.88 ¹	0.80 ¹	0.75 ¹	0.72 ¹	0.60
Net realized and unrealized gains (losses)	3.89	2.12	8.19	0.75	0.83	4.49
Total from investment operations	4.42	3.00	8.99	1.50	1.55	5.09
Less distributions:
Distributions from net investment income	(0.90)	(0.76)	(0.74)	(0.70)	(0.61)	(0.51)
Distributions from net realized gains	(0.23)	(0.11)	(0.19)	(0.30)	(0.21)	(0.15)
Total distributions	(1.13)	(0.87)	(0.93)	(1.00)	(0.82)	(0.66)
Net asset value at end of period	$51.67	$48.38	$46.25	$38.19	$37.69	$36.96
Total return	9.66% ²	6.51%	23.89%	4.19%	4.36%	15.93%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.03% ³	0.03%	0.05% ⁴	0.10%	0.11%	0.10%
Net operating expenses	N/A	N/A ⁵	0.05% ⁴	0.09%	0.09%	0.09%
Net investment income (loss)	2.25% ³	1.80%	1.89%	2.03%	1.92%	1.79%
Portfolio turnover rate	1% ²	4%	2%	1%	2%	1%
Net assets, end of period (x 1,000,000)	$9,746	$8,410	$6,720	$4,850	$4,477	$4,049

*	Unaudited.

Calculated based on the average shares outstanding during the period.

Not annualized.

Annualized.

⁴

Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for period ended 10/31/17 is a blended ratio.

⁵

Effective March 1, 2017, the fund instituted a new fee structure and the contractual expense limitation was terminated.

₄₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.4% of net assets

Automobiles & Components 0.8%
Other Securities		0.8	72,821,955

Banks 6.0%
Bank of America Corp.	2,944,448	0.9	90,041,220
Citigroup, Inc.	770,835	0.6	54,498,035
JPMorgan Chase & Co.	1,073,256	1.3	124,551,359
Wells Fargo & Co.	1,341,700	0.7	64,951,697
Other Securities		2.5	246,758,224
		6.0	580,800,535

Capital Goods 7.0%
Honeywell International, Inc.	238,585	0.4	41,425,514
The Boeing Co.	172,404	0.7	65,115,267
United Technologies Corp.	266,092	0.4	37,947,380
Other Securities		5.5	540,000,066
		7.0	684,488,227

Commercial & Professional Services 1.1%
Other Securities		1.1	102,881,421

Consumer Durables & Apparel 1.4%
NIKE, Inc., Class B	413,420	0.4	36,310,679
Other Securities		1.0	96,169,871
		1.4	132,480,550

Consumer Services 2.3%
McDonald's Corp.	250,707	0.5	49,532,182
Other Securities		1.8	171,034,330
		2.3	220,566,512

Diversified Financials 5.1%
Berkshire Hathaway, Inc., Class B *	637,460	1.4	138,143,957
The Charles Schwab Corp. (b)	387,915	0.2	17,758,749
Other Securities		3.5	345,113,173
		5.1	501,015,879

Energy 4.9%
Chevron Corp.	622,989	0.8	74,796,059
Exxon Mobil Corp.	1,389,276	1.1	111,531,077
Other Securities		3.0	287,517,448
		4.9	473,844,584

Security	Number of Shares	% of Net Assets	Value ($)
Food & Staples Retailing 1.3%
Walmart, Inc.	466,564	0.5	47,981,442
Other Securities		0.8	76,611,072
		1.3	124,592,514

Food, Beverage & Tobacco 3.5%
PepsiCo, Inc.	460,021	0.6	58,905,689
Philip Morris International, Inc.	509,741	0.5	44,123,181
The Coca-Cola Co.	1,260,231	0.6	61,826,933
Other Securities		1.8	176,752,312
		3.5	341,608,115

Health Care Equipment & Services 5.7%
Abbott Laboratories	575,999	0.5	45,826,480
Medtronic plc	439,569	0.4	39,038,123
UnitedHealth Group, Inc.	314,616	0.8	73,327,551
Other Securities		4.0	399,887,156
		5.7	558,079,310

Household & Personal Products 1.6%
The Procter & Gamble Co.	819,730	0.9	87,284,850
Other Securities		0.7	70,447,600
		1.6	157,732,450

Insurance 2.6%
Other Securities		2.6	256,581,395

Materials 2.9%
Other Securities		2.9	285,335,468

Media & Entertainment 7.6%
Alphabet, Inc., Class A *	98,205	1.2	117,743,867
Alphabet, Inc., Class C *	100,835	1.2	119,840,381
Comcast Corp., Class A	1,481,553	0.7	64,492,002
Facebook, Inc., Class A *	782,595	1.6	151,353,873
Netflix, Inc. *	143,351	0.5	53,117,279
The Walt Disney Co.	572,296	0.8	78,387,383
Other Securities		1.6	158,723,358
		7.6	743,658,143

Pharmaceuticals, Biotechnology & Life Sciences 7.5%
AbbVie, Inc.	484,619	0.4	38,473,902
Amgen, Inc.	204,566	0.4	36,682,775
Johnson & Johnson	873,698	1.3	123,366,158
Merck & Co., Inc.	847,106	0.7	66,675,713
Pfizer, Inc.	1,819,431	0.8	73,887,093

₄₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Thermo Fisher Scientific, Inc.	132,019	0.4	36,628,672
Other Securities		3.5	359,375,240
		7.5	735,089,553

Real Estate 3.9%
Other Securities		3.9	380,732,576

Retailing 6.1%
Amazon.com, Inc. *	135,361	2.7	260,775,674
The Home Depot, Inc.	370,224	0.8	75,414,629
Other Securities		2.6	258,164,288
		6.1	594,354,591

Semiconductors & Semiconductor Equipment 3.7%
Broadcom, Inc.	129,924	0.4	41,367,802
Intel Corp.	1,474,424	0.8	75,254,601
Other Securities		2.5	248,353,410
		3.7	364,975,813

Software & Services 12.0%
Accenture plc, Class A	208,747	0.4	38,131,814
Adobe, Inc. *	159,988	0.5	46,276,529
International Business Machines Corp.	291,702	0.4	40,917,040
Mastercard, Inc., Class A	295,948	0.8	75,241,820
Microsoft Corp.	2,516,182	3.4	328,613,369
Oracle Corp.	834,572	0.5	46,176,869
PayPal Holdings, Inc. *	385,131	0.4	43,431,223
salesforce.com, Inc. *	251,161	0.4	41,529,471
Visa, Inc., Class A	573,550	1.0	94,308,826
Other Securities		4.2	418,760,102
		12.0	1,173,387,063

Technology Hardware & Equipment 5.5%
Apple, Inc.	1,469,437	3.0	294,871,923
Cisco Systems, Inc.	1,443,606	0.8	80,769,756
Other Securities		1.7	159,822,140
		5.5	535,463,819

Telecommunication Services 1.8%
AT&T, Inc.	2,389,386	0.8	73,975,391
Verizon Communications, Inc.	1,355,141	0.8	77,500,514
Other Securities		0.2	20,359,007
		1.8	171,834,912

Transportation 2.0%
Union Pacific Corp.	236,901	0.4	41,940,953
Other Securities		1.6	152,547,341
		2.0	194,488,294

Utilities 3.1%
Other Securities		3.1	303,616,676
Total Common Stock
(Cost $5,833,778,641)			9,690,430,355

Security	Number of Shares	% of Net Assets	Value ($)
Rights 0.0% of net assets

Materials 0.0%
Other Securities		0.0	3,541

Media & Entertainment 0.0%
Other Securities		0.0	1,566

Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Other Securities		0.0	1,495
Total Rights
(Cost $5,036)			6,602

Other Investment Company 0.1% of net assets

Securities Lending Collateral 0.1%
Other Securities		0.1	11,644,771
Total Other Investment Company
(Cost $11,644,771)			11,644,771
Security Rate, Maturity Date	Face Amount ($)	% of Net Assets	Value ($)
Short-Term Investments 0.4% of net assets

Time Deposits 0.4%
Other Securities		0.4	34,497,868
Total Short-Term Investments
(Cost $34,497,868)			34,497,868

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
Russell 2000 Index, e-mini, expires 06/21/19	104	8,289,840	95,914
S&P 500 Index, e-mini, expires 06/21/19	323	47,618,275	519,180
Net Unrealized Appreciation			615,094

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $11,198,974.
(b)	Issuer is affiliated with the fund’s investment adviser.
(c)	Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees.
(d)	The rate shown is the 7-day yield.
(e)	The rate shown is the current daily overnight rate.

CVR —	Contingent Value Rights
REIT —	Real Estate Investment Trust

₄₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

	Balance of Shares Held at 10/31/18	Gross Purchases	Gross Sales	Balance of Shares Held at 04/30/19	Market Value at 04/30/19	Net Change in Unrealized Appreciation (depreciation)	Realized Gains (Losses)	Dividends Received
The Charles Schwab Corp.	360,895	28,409	(1,389)	387,915	$17,758,749	($99,327)	($18,734)	$112,197

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 Stock¹	$9,309,697,779	$—	$—	$9,309,697,779
Real Estate	380,732,576	—	— ^*	380,732,576
Rights ¹
Materials	—	—	3,541	3,541
Media & Entertainment	—	—	1,566	1,566
Pharmaceuticals, Biotechnology & Life Sciences	—	—	1,495 ^*	1,495
Other Investment Company¹	11,644,771	—	—	11,644,771
Short-Term Investments¹	—	34,497,868	—	34,497,868
Futures Contracts²	615,094	—	—	615,094
Total	$9,702,690,220	$34,497,868	$6,602	$9,737,194,690

*	Level 3 amount shown includes securities determined to have no value at April 30, 2019.
¹	As categorized in the complete schedule of Portfolio Holdings.
²	Futures contracts are valued at unrealized appreciation or depreciation.

₄₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	12/20/17 ¹– 10/31/18
Per-Share Data
Net asset value at beginning of period	$42.37	$40.00
Income (loss) from investment operations:
Net investment income (loss)²	0.28	0.46
Net realized and unrealized gains (losses)	4.72	1.91 ³
Total from investment operations	5.00	2.37
Less distributions:
Distributions from net investment income	(0.40)	—
Net asset value at end of period	$46.97	$42.37
Total return	12.05% ⁴	5.93% ⁴
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.036% ⁵^,⁶	0.040% ⁵^,⁷
Net operating expenses	N/A	0.02% ⁵^,⁷
Net investment income (loss)	1.35% ⁵	1.23% ⁵
Portfolio turnover rate	28% ⁴	23% ⁴
Net assets, end of period (x 1,000,000)	$141	$93

*	Unaudited.

Commencement of operations.

Calculated based on the average shares outstanding during the period.

The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of sales and repurchases of fund shares in relation to fluctuating market values.

⁴

Not annualized.

⁵

Annualized.

⁶

Effective December 20, 2018, the annual operating expense ratio was reduced to 0.035%. The ratio presented for period ended 4/30/19 is a blended ratio. (See financial note 4)

⁷

The investment adviser voluntarily agreed to waive the fund’s management fees to 0.00% beginning with the fund’s commencement of operations through June 30, 2018. The ratio presented for period ended 10/31/18 is a blended ratio.

₅₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 0.4%
Other Securities		0.4	623,769

Banks 0.2%
Other Securities		0.2	250,600

Capital Goods 8.0%
3M Co.	4,712	0.6	892,971
Caterpillar, Inc.	5,312	0.5	740,599
Honeywell International, Inc.	4,558	0.6	791,406
Lockheed Martin Corp.	2,259	0.5	752,993
The Boeing Co.	5,401	1.4	2,039,904
Other Securities		4.4	6,047,089
		8.0	11,264,962

Commercial & Professional Services 1.1%
Other Securities		1.1	1,506,870

Consumer Durables & Apparel 1.6%
NIKE, Inc., Class B	12,419	0.8	1,090,761
Other Securities		0.8	1,172,751
		1.6	2,263,512

Consumer Services 2.4%
Starbucks Corp.	12,175	0.7	945,754
Other Securities		1.7	2,371,580
		2.4	3,317,334

Diversified Financials 3.2%
American Express Co.	4,800	0.4	562,704
S&P Global, Inc.	2,505	0.4	552,753
The Charles Schwab Corp. (a)	12,085	0.4	553,251
Other Securities		2.0	2,868,980
		3.2	4,537,688

Energy 0.7%
Other Securities		0.7	1,044,511

Food & Staples Retailing 1.0%
Costco Wholesale Corp.	4,407	0.8	1,082,051
Other Securities		0.2	364,357
		1.0	1,446,408

Security	Number of Shares	% of Net Assets	Value ($)
Food, Beverage & Tobacco 3.8%
Altria Group, Inc.	19,098	0.7	1,037,594
PepsiCo, Inc.	12,674	1.2	1,622,906
The Coca-Cola Co.	29,938	1.0	1,468,758
Other Securities		0.9	1,153,804
		3.8	5,283,062

Health Care Equipment & Services 5.3%
Intuitive Surgical, Inc. *	1,145	0.4	584,671
Stryker Corp.	3,444	0.5	650,606
UnitedHealth Group, Inc.	9,641	1.6	2,247,028
Other Securities		2.8	3,962,944
		5.3	7,445,249

Household & Personal Products 0.9%
Other Securities		0.9	1,257,783

Insurance 1.0%
Other Securities		1.0	1,387,911

Materials 1.8%
Linde plc	3,284	0.4	591,974
Other Securities		1.4	1,935,288
		1.8	2,527,262

Media & Entertainment 12.2%
Alphabet, Inc., Class A *	3,014	2.6	3,613,665
Alphabet, Inc., Class C *	3,072	2.6	3,651,011
Facebook, Inc., Class A *	23,988	3.3	4,639,279
Netflix, Inc. *	4,204	1.1	1,557,750
The Walt Disney Co.	10,759	1.0	1,473,660
Other Securities		1.6	2,311,650
		12.2	17,247,015

Pharmaceuticals, Biotechnology & Life Sciences 6.8%
AbbVie, Inc.	15,288	0.9	1,213,714
Amgen, Inc.	5,985	0.8	1,073,230
Celgene Corp. *	7,080	0.5	670,193
Eli Lilly & Co.	5,486	0.5	642,081
Gilead Sciences, Inc.	9,594	0.4	623,994
Johnson & Johnson	4,875	0.5	688,350
Other Securities		3.2	4,739,946
		6.8	9,651,508

₅₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Real Estate 2.3%
American Tower Corp.	4,424	0.6	864,007
Other Securities		1.7	2,331,318
		2.3	3,195,325

Retailing 10.8%
Amazon.com, Inc. *	4,152	5.7	7,998,911
Booking Holdings, Inc. *	467	0.6	866,280
Lowe's Cos., Inc.	8,102	0.7	916,660
The Home Depot, Inc.	11,393	1.6	2,320,754
The TJX Cos., Inc.	12,484	0.5	685,122
Other Securities		1.7	2,482,279
		10.8	15,270,006

Semiconductors & Semiconductor Equipment 4.2%
Broadcom, Inc.	2,452	0.6	780,717
NVIDIA Corp.	5,872	0.8	1,062,832
Texas Instruments, Inc.	9,698	0.8	1,142,715
Other Securities		2.0	2,916,467
		4.2	5,902,731

Software & Services 21.5%
Accenture plc, Class A	6,486	0.8	1,184,798
Adobe, Inc. *	4,960	1.0	1,434,680
Automatic Data Processing, Inc.	4,394	0.5	722,330
International Business Machines Corp.	6,662	0.7	934,479
Intuit, Inc.	2,492	0.4	625,641
Mastercard, Inc., Class A	9,167	1.7	2,330,618
Microsoft Corp.	72,406	6.7	9,456,224
PayPal Holdings, Inc. *	11,841	0.9	1,335,310
salesforce.com, Inc. *	7,335	0.9	1,212,842
Visa, Inc., Class A	17,770	2.1	2,921,921
Other Securities		5.8	8,192,431
		21.5	30,351,274

Technology Hardware & Equipment 7.8%
Apple, Inc.	47,911	6.8	9,614,300
Other Securities		1.0	1,412,505
		7.8	11,026,805

Security	Number of Shares	% of Net Assets	Value ($)
Telecommunication Services 0.2%
Other Securities		0.2	219,010

Transportation 2.5%
Union Pacific Corp.	6,705	0.8	1,187,053
United Parcel Service, Inc., Class B	6,965	0.5	739,822
Other Securities		1.2	1,623,087
		2.5	3,549,962
Total Common Stock
(Cost $121,670,391)			140,570,557

Other Investment Companies 0.2% of net assets

Equity Fund 0.0%
Other Securities		0.0	52,167

Money Market Fund 0.2%
Other Securities		0.2	195,441
Total Other Investment Companies
(Cost $245,943)			247,608

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	Issuer is affiliated with the fund's investment adviser.
(b)	The rate shown is the 7-day yield.

ETF —

Exchange-traded fund

	Balance of Shares Held at 10/31/18	Gross Purchases	Gross Sales	Balance of Shares Held at 04/30/19	Market Value at 04/30/19	Net Change in Unrealized Appreciation (depreciation)	Realized Gains (Losses)	Dividends Received
The Charles Schwab Corp.	8,764	6,102	(2,781)	12,085	$553,251	$35,469	($29,577)	$2,968

₅₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	12/20/17 ¹– 10/31/18
Per-Share Data
Net asset value at beginning of period	$39.51	$40.00
Income (loss) from investment operations:
Net investment income (loss)²	0.52	0.82
Net realized and unrealized gains (losses)	2.44	(1.31)
Total from investment operations	2.96	(0.49)
Less distributions:
Distributions from net investment income	(0.62)	—
Distributions from net realized gains	(0.06)	—
Total distributions	(0.68)	—
Net asset value at end of period	$41.79	$39.51
Total return	7.80% ³	(1.23%) ³
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.036% ⁴^,⁵	0.040% ⁴^,⁶
Net operating expenses	N/A	0.02% ⁴^,⁶
Net investment income (loss)	2.70% ⁴	2.36% ⁴
Portfolio turnover rate	6% ³	22% ³
Net assets, end of period (x 1,000,000)	$181	$70

*	Unaudited.

Commencement of operations.

Calculated based on the average shares outstanding during the period.

Not annualized.

⁴

Annualized.

⁵

Effective December 20, 2018, the annual operating expense ratio was reduced to 0.035%. The ratio presented for period ended 4/30/19 is a blended ratio. (See financial note 4)

⁶

₆₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 1.0%
General Motors Co.	17,580	0.4	684,741
Other Securities		0.6	1,030,725
		1.0	1,715,466

Banks 11.2%
Bank of America Corp.	120,951	2.0	3,698,682
Citigroup, Inc.	31,805	1.2	2,248,613
JPMorgan Chase & Co.	44,408	2.8	5,153,548
The PNC Financial Services Group, Inc.	6,131	0.5	839,518
U.S. Bancorp	20,303	0.6	1,082,556
Wells Fargo & Co.	55,417	1.5	2,682,737
Other Securities		2.6	4,549,816
		11.2	20,255,470

Capital Goods 5.7%
General Electric Co.	115,686	0.7	1,176,527
United Technologies Corp.	10,874	0.9	1,550,741
Other Securities		4.1	7,618,931
		5.7	10,346,199

Commercial & Professional Services 0.6%
Other Securities		0.6	1,099,686

Consumer Durables & Apparel 0.8%
Other Securities		0.8	1,478,215

Consumer Services 2.1%
McDonald's Corp.	8,401	0.9	1,659,786
Other Securities		1.2	2,048,864
		2.1	3,708,650

Diversified Financials 7.3%
Berkshire Hathaway, Inc., Class B *	22,719	2.7	4,923,435
BlackRock, Inc.	1,627	0.4	789,485
CME Group, Inc.	4,190	0.4	749,591
Morgan Stanley	16,271	0.4	785,076
The Goldman Sachs Group, Inc.	4,677	0.5	963,088
Other Securities		2.9	4,952,898
		7.3	13,163,573

Security	Number of Shares	% of Net Assets	Value ($)
Energy 9.3%
Chevron Corp.	25,562	1.7	3,068,974
ConocoPhillips	15,285	0.5	964,789
Exxon Mobil Corp.	56,855	2.5	4,564,319
Schlumberger Ltd.	18,601	0.4	793,891
Other Securities		4.2	7,467,566
		9.3	16,859,539

Food & Staples Retailing 1.6%
Walmart, Inc.	18,838	1.1	1,937,300
Other Securities		0.5	1,020,658
		1.6	2,957,958

Food, Beverage & Tobacco 3.6%
Mondelez International, Inc., Class A	19,150	0.5	973,778
Philip Morris International, Inc.	20,846	1.0	1,804,430
Other Securities		2.1	3,709,230
		3.6	6,487,438

Health Care Equipment & Services 6.2%
Abbott Laboratories	22,957	1.0	1,826,459
Anthem, Inc.	3,492	0.5	918,501
Becton, Dickinson & Co.	3,231	0.4	777,831
CVS Health Corp.	15,926	0.5	866,056
Danaher Corp.	8,422	0.6	1,115,410
Medtronic plc	18,157	0.9	1,612,523
Other Securities		2.3	4,039,506
		6.2	11,156,286

Household & Personal Products 2.5%
The Procter & Gamble Co.	33,430	2.0	3,559,626
Other Securities		0.5	995,863
		2.5	4,555,489

Insurance 4.3%
Chubb Ltd.	6,150	0.5	892,980
Other Securities		3.8	6,928,355
		4.3	7,821,335

Materials 4.0%
DowDuPont, Inc.	30,473	0.6	1,171,687
Other Securities		3.4	6,112,837
		4.0	7,284,524

₆₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Media & Entertainment 3.3%
Comcast Corp., Class A	60,306	1.5	2,625,120
The Walt Disney Co.	9,113	0.7	1,248,208
Other Securities		1.1	2,105,148
		3.3	5,978,476

Pharmaceuticals, Biotechnology & Life Sciences 8.3%
Johnson & Johnson	29,545	2.3	4,171,754
Merck & Co., Inc.	32,587	1.4	2,564,923
Pfizer, Inc.	76,944	1.7	3,124,696
Thermo Fisher Scientific, Inc.	5,062	0.8	1,404,452
Other Securities		2.1	3,746,515
		8.3	15,012,340

Real Estate 5.0%
Other Securities		5.0	9,043,555

Retailing 1.5%
Other Securities		1.5	2,745,210

Semiconductors & Semiconductor Equipment 3.7%
Broadcom, Inc.	2,183	0.4	695,067
Intel Corp.	60,416	1.7	3,083,633
QUALCOMM, Inc.	16,266	0.8	1,400,991
Other Securities		0.8	1,589,378
		3.7	6,769,069

Software & Services 2.9%
Microsoft Corp.	5,393	0.4	704,326
Oracle Corp.	29,252	0.9	1,618,513
Other Securities		1.6	2,823,462
		2.9	5,146,301

Technology Hardware & Equipment 3.4%
Cisco Systems, Inc.	60,854	1.9	3,404,781
Other Securities		1.5	2,725,946
		3.4	6,130,727

Telecommunication Services 3.6%
AT&T, Inc.	97,563	1.7	3,020,550
Verizon Communications, Inc.	55,520	1.8	3,175,189
Other Securities		0.1	350,038
		3.6	6,545,777

Security	Number of Shares	% of Net Assets	Value ($)
Transportation 1.6%
Norfolk Southern Corp.	3,586	0.4	731,616
Other Securities		1.2	2,225,406
		1.6	2,957,022

Utilities 6.3%
Dominion Energy, Inc.	10,176	0.4	792,405
Duke Energy Corp.	9,563	0.5	871,381
NextEra Energy, Inc.	6,401	0.7	1,244,610
The Southern Co.	13,814	0.4	735,181
Other Securities		4.3	7,771,656
		6.3	11,415,233
Total Common Stock
(Cost $165,683,311)			180,633,538

Other Investment Company 0.1% of net assets

Equity Fund 0.1%
Other Securities		0.1	102,200
Total Other Investment Company
(Cost $100,976)			102,200

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.

ETF —	Exchange-traded fund
REIT —	Real Estate Investment Trust

₆₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	12/20/17 ¹– 10/31/18
Per-Share Data
Net asset value at beginning of period	$39.55	$40.00
Income (loss) from investment operations:
Net investment income (loss)²	0.36	0.59
Net realized and unrealized gains (losses)	4.09	(1.04)
Total from investment operations	4.45	(0.45)
Less distributions:
Distributions from net investment income	(0.42)	—
Distributions from net realized gains	(0.08)	—
Total distributions	(0.50)	—
Net asset value at end of period	$43.50	$39.55
Total return	11.59% ³	(1.13%) ³
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.04% ⁴^,⁵	0.05% ⁴^,⁶
Net operating expenses	N/A	0.03% ⁴^,⁶
Net investment income (loss)	1.83% ⁴	1.65% ⁴
Portfolio turnover rate	12% ³	15% ³
Net assets, end of period (x 1,000,000)	$302	$171

*	Unaudited.

Commencement of operations.

Calculated based on the average shares outstanding during the period.

Not annualized.

⁴

Annualized.

⁵

Effective December 20, 2018, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 4/30/19 is a blended ratio. (See financial note 4)

⁶

₆₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 0.8%
Other Securities		0.8	2,517,537

Banks 4.3%
SunTrust Banks, Inc.	17,699	0.4	1,158,930
Other Securities		3.9	11,646,991
		4.3	12,805,921

Capital Goods 9.5%
Cummins, Inc.	5,863	0.3	974,958
Fortive Corp.	11,570	0.3	998,954
Ingersoll-Rand plc	9,652	0.4	1,183,432
PACCAR, Inc.	13,326	0.3	955,074
Roper Technologies, Inc.	3,992	0.5	1,435,922
Other Securities		7.7	23,087,440
		9.5	28,635,780

Commercial & Professional Services 2.4%
Other Securities		2.4	7,315,560

Consumer Durables & Apparel 3.0%
VF Corp.	12,761	0.4	1,204,766
Other Securities		2.6	7,729,622
		3.0	8,934,388

Consumer Services 3.2%
Hilton Worldwide Holdings, Inc.	10,867	0.3	945,320
Other Securities		2.9	8,584,730
		3.2	9,530,050

Diversified Financials 5.2%
Discover Financial Services	13,023	0.4	1,061,244
Moody's Corp.	6,569	0.4	1,291,597
Synchrony Financial	28,374	0.3	983,727
T. Rowe Price Group, Inc.	9,156	0.3	984,270
Other Securities		3.8	11,225,400
		5.2	15,546,238

Energy 3.9%
ONEOK, Inc.	16,162	0.4	1,097,885
The Williams Cos., Inc.	47,010	0.4	1,331,793
Other Securities		3.1	9,459,458
		3.9	11,889,136

Security	Number of Shares	% of Net Assets	Value ($)
Food & Staples Retailing 0.5%
Other Securities		0.5	1,413,077

Food, Beverage & Tobacco 2.9%
Archer-Daniels-Midland Co.	22,018	0.3	982,003
Other Securities		2.6	7,745,476
		2.9	8,727,479

Health Care Equipment & Services 5.8%
Align Technology, Inc. *	3,125	0.3	1,014,625
Edwards Lifesciences Corp. *	8,278	0.5	1,457,507
Zimmer Biomet Holdings, Inc.	8,028	0.3	988,728
Other Securities		4.7	13,974,552
		5.8	17,435,412

Household & Personal Products 0.7%
Other Securities		0.7	2,217,822

Insurance 3.7%
Other Securities		3.7	11,265,880

Materials 4.9%
Newmont Mining Corp.	32,251	0.3	1,001,716
Other Securities		4.6	13,800,718
		4.9	14,802,434

Media & Entertainment 3.1%
Twitter, Inc. *	28,216	0.4	1,126,101
Other Securities		2.7	8,300,134
		3.1	9,426,235

Pharmaceuticals, Biotechnology & Life Sciences 3.9%
Agilent Technologies, Inc.	12,564	0.3	986,274
IQVIA Holdings, Inc. *	6,838	0.3	949,798
Other Securities		3.3	9,732,959
		3.9	11,669,031

Real Estate 8.9%
AvalonBay Communities, Inc.	5,444	0.4	1,093,863
Digital Realty Trust, Inc.	8,103	0.3	953,804
Equity Residential	14,146	0.4	1,081,037
Welltower, Inc.	14,669	0.4	1,093,281
Other Securities		7.4	22,647,385
		8.9	26,869,370

₆₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Retailing 4.9%
AutoZone, Inc. *	990	0.3	1,018,027
Dollar General Corp.	10,484	0.4	1,321,928
Dollar Tree, Inc. *	9,252	0.3	1,029,563
O'Reilly Automotive, Inc. *	3,057	0.4	1,157,289
Ross Stores, Inc.	14,405	0.5	1,406,792
Other Securities		3.0	8,930,614
		4.9	14,864,213

Semiconductors & Semiconductor Equipment 3.7%
Advanced Micro Devices, Inc. *	36,918	0.3	1,020,044
Analog Devices, Inc.	14,561	0.6	1,692,571
Lam Research Corp.	6,014	0.4	1,247,484
Xilinx, Inc.	10,039	0.4	1,206,085
Other Securities		2.0	5,988,924
		3.7	11,155,108

Software & Services 12.0%
Autodesk, Inc. *	8,653	0.5	1,542,051
Fidelity National Information Services, Inc.	12,864	0.5	1,491,324
Fiserv, Inc. *	15,715	0.5	1,370,977
Paychex, Inc.	12,649	0.4	1,066,437
Red Hat, Inc. *	6,977	0.4	1,273,512
ServiceNow, Inc. *	7,013	0.6	1,904,100
Workday, Inc., Class A *	5,726	0.4	1,177,437
Worldpay, Inc., Class A *	11,800	0.5	1,383,078
Other Securities		8.2	24,974,800
		12.0	36,183,716

Technology Hardware & Equipment 3.8%
Amphenol Corp., Class A	11,628	0.4	1,157,684
Corning, Inc.	31,058	0.3	989,197
Other Securities		3.1	9,302,367
		3.8	11,449,248

Telecommunication Services 0.3%
Other Securities		0.3	1,003,155

Transportation 1.9%
Other Securities		1.9	5,666,648

Security	Number of Shares	% of Net Assets	Value ($)
Utilities 6.4%
Consolidated Edison, Inc.	12,273	0.4	1,057,442
Public Service Enterprise Group, Inc.	19,880	0.4	1,185,842
Sempra Energy	10,789	0.5	1,380,453
WEC Energy Group, Inc.	12,440	0.3	975,669
Xcel Energy, Inc.	20,052	0.4	1,132,938
Other Securities		4.4	13,499,880
		6.4	19,232,224
Total Common Stock
(Cost $275,365,314)			300,555,662

Other Investment Companies 0.2% of net assets

Equity Fund 0.0%
Other Securities		0.0	123,112

Money Market Fund 0.2%
Other Securities		0.2	509,448
Total Other Investment Companies
(Cost $632,269)			632,560

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	The rate shown is the 7-day yield.

ETF —	Exchange-traded fund
REIT —	Real Estate Investment Trust

₆₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Financial Statements

Financial Highlights

	11/1/18– 4/30/19*	11/1/17– 10/31/18	11/1/16– 10/31/17	11/1/15– 10/31/16	11/1/14– 10/31/15	11/1/13– 10/31/14
Per-Share Data
Net asset value at beginning of period	$19.00	$21.01	$17.52	$18.49	$19.42	$19.92
Income (loss) from investment operations:
Net investment income (loss)	0.31 ¹	0.62 ¹	0.55 ¹	0.53 ¹	0.54 ¹	0.64
Net realized and unrealized gains (losses)	1.12	(2.06)	3.49	(1.03)	(0.86)	(0.63)
Total from investment operations	1.43	(1.44)	4.04	(0.50)	(0.32)	0.01
Less distributions:
Distributions from net investment income	(0.55)	(0.57)	(0.55)	(0.47)	(0.61)	(0.51)
Net asset value at end of period	$19.88	$19.00	$21.01	$17.52	$18.49	$19.42
Total return	8.01% ²	(7.11%)	23.76%	(2.64%)	(1.53%)	0.09%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses	0.06% ³	0.06%	0.11% ⁴	0.23%	0.23%	0.23%
Net operating expenses	N/A	N/A ⁵	0.10% ⁴	0.19%	0.19%	0.19%
Net investment income (loss)	3.34% ³	2.99%	2.88%	3.06%	2.82%	3.42%
Portfolio turnover rate	3% ²	5%	3%	4%	7%	2%
Net assets, end of period (x 1,000,000)	$5,031	$4,314	$4,128	$2,900	$2,844	$2,699

*	Unaudited.

Calculated based on the average shares outstanding during the period.

Not annualized.

Annualized.

⁴

Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for period ended 10/31/17 is a blended ratio.

⁵

Effective March 1, 2017, the fund instituted a new fee structure and the contractual expense limitation was terminated.

₇₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited)

Security	Number of Shares	% of Net Assets	Value ($)
Common Stock 98.6% of net assets

Australia 6.8%
Australia & New Zealand Banking Group Ltd.	1,017,635	0.4	19,522,896
BHP Group Ltd.	1,059,047	0.6	28,024,866
Commonwealth Bank of Australia	633,178	0.7	33,276,804
CSL Ltd.	161,879	0.5	22,705,436
Westpac Banking Corp.	1,220,306	0.5	23,706,151
Other Securities		4.1	214,556,171
		6.8	341,792,324

Austria 0.2%
Other Securities		0.2	12,289,745

Belgium 1.0%
Anheuser-Busch InBev S.A./N.V.	272,741	0.5	24,248,619
Other Securities		0.5	26,511,519
		1.0	50,760,138

Denmark 1.7%
Novo Nordisk A/S, Class B	648,305	0.6	31,763,405
Other Securities		1.1	54,182,577
		1.7	85,945,982

Finland 1.0%
Other Securities		1.0	48,969,515

France 11.3%
Air Liquide S.A.	152,002	0.4	20,221,104
Airbus SE	207,304	0.6	28,386,064
AXA S.A. (a)	697,173	0.4	18,591,197
BNP Paribas S.A.	398,531	0.4	21,215,037
L'Oreal S.A.	89,772	0.5	24,692,010
LVMH Moet Hennessy Louis Vuitton SE	98,904	0.8	38,831,401
Sanofi	401,887	0.7	35,064,346
TOTAL S.A.	862,757	1.0	47,961,318
Other Securities		6.5	335,712,370
		11.3	570,674,847

Germany 8.3%
Allianz SE	150,664	0.7	36,417,615
BASF SE	329,591	0.5	26,908,119
Bayer AG	333,716	0.4	22,210,728
Daimler AG	323,396	0.4	21,226,412
Deutsche Telekom AG	1,189,031	0.4	19,922,096

Security	Number of Shares	% of Net Assets	Value ($)
SAP SE	351,145	0.9	45,265,505
Siemens AG	273,514	0.7	32,794,935
Other Securities		4.3	213,589,077
		8.3	418,334,487

Hong Kong 4.0%
AIA Group Ltd.	4,306,400	0.9	44,095,105
Other Securities		3.1	158,146,219
		4.0	202,241,324

Ireland 0.6%
Other Securities		0.6	27,757,002

Israel 0.5%
Other Securities		0.5	26,990,720

Italy 2.3%
Other Securities		2.3	116,527,926

Japan 23.6%
Keyence Corp.	34,500	0.4	21,555,373
Mitsubishi UFJ Financial Group, Inc.	4,182,109	0.4	20,749,639
SoftBank Group Corp.	294,800	0.6	31,258,034
Sony Corp.	450,500	0.5	22,690,829
Takeda Pharmaceutical Co., Ltd.	525,090	0.4	19,376,727
Toyota Motor Corp.	815,903	1.0	50,512,916
Other Securities		20.3	1,019,505,766
		23.6	1,185,649,284

Netherlands 3.6%
ASML Holding N.V.	146,339	0.6	30,557,159
Unilever N.V. CVA	550,616	0.7	33,314,779
Other Securities		2.3	118,528,588
		3.6	182,400,526

New Zealand 0.2%
Other Securities		0.2	12,061,137

Norway 0.7%
Other Securities		0.7	35,275,078

Portugal 0.2%
Other Securities		0.2	7,933,795

₇₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	% of Net Assets	Value ($)
Singapore 1.4%
Other Securities		1.4	68,735,448

Spain 3.0%
Banco Santander S.A.	5,765,547	0.6	29,227,723
Iberdrola S.A.	2,204,463	0.4	20,032,814
Other Securities		2.0	101,284,578
		3.0	150,545,115

Sweden 2.7%
Other Securities		2.7	133,960,064

Switzerland 8.7%
Nestle S.A.	1,090,236	2.1	104,965,309
Novartis AG	772,976	1.3	63,337,704
Roche Holding AG	250,222	1.3	66,024,399
UBS Group AG *	1,384,592	0.4	18,566,625
Other Securities		3.6	182,313,948
		8.7	435,207,985

United Kingdom 16.8%
AstraZeneca plc	452,642	0.7	33,721,739
BP plc	7,154,748	1.0	52,027,173
British American Tobacco plc	816,972	0.6	31,983,571
Diageo plc	867,085	0.7	36,554,329
GlaxoSmithKline plc	1,772,770	0.7	36,418,398
HSBC Holdings plc	7,142,303	1.2	62,230,634
Lloyds Banking Group plc	25,360,025	0.4	20,740,318
Prudential plc	920,305	0.4	20,910,593
Reckitt Benckiser Group plc	237,772	0.4	19,237,284
Rio Tinto plc	409,773	0.5	23,905,775
Royal Dutch Shell plc, A Shares	1,608,482	1.0	51,248,533
Royal Dutch Shell plc, B Shares	1,332,009	0.9	42,988,389
Unilever plc	397,001	0.5	24,064,246
Other Securities		7.8	388,888,700
		16.8	844,919,682
Total Common Stock
(Cost $4,127,349,315)			4,958,972,124

Preferred Stock 0.5% of net assets

Germany 0.5%
Other Securities		0.5	26,693,538

United Kingdom 0.0%
Other Securities		0.0	56,212
Total Preferred Stock
(Cost $25,008,403)			26,749,750

Security	Number of Shares	% of Net Assets	Value ($)
Other Investment Company 0.3% of net assets

United States 0.3%
Securities Lending Collateral 0.3%
Other Securities		0.3	14,091,813
Total Other Investment Company
(Cost $14,091,813)			14,091,813
Security Rate, Maturity Date	Face Amount ($)	% of Net Assets	Value ($)
Short-Term Investments 0.2% of net assets

Time Deposits 0.2%
Other Securities		0.2	10,008,159
Total Short-Term Investments
(Cost $10,008,159)			10,008,159

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
MSCI EAFE Index, expires 06/21/19	380	36,423,000	78,365

The following footnotes may not be applicable to the Condensed Portfolio Holdings. Please refer to the complete schedule of portfolio holdings.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $13,508,352.
(b)	Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the current daily overnight rate.

ADR —	American Depositary Receipt
CVA —	Dutch Certificate
REIT —	Real Estate Investment Trust
RSP —	Risparmio (Convertible Savings Shares)
SDR —	Swedish Depositary Receipt

₇₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Condensed Portfolio Holdings as of April 30, 2019 (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
Assets
Common Stock¹	$—	$2,770,991,054	$—	$2,770,991,054
Austria	4,270,708	8,019,037	—	12,289,745
Denmark	10,499,508	75,446,474	—	85,945,982
Finland	2,262,503	46,707,012	—	48,969,515
France	64,704,049	505,970,798	—	570,674,847
Germany	38,919,779	379,414,708	—	418,334,487
Hong Kong	5,630,341	196,610,983	—	202,241,324
Ireland	12,147,240	15,609,762	—	27,757,002
Israel	12,626,321	14,364,399	—	26,990,720
Netherlands	19,227,046	163,173,480	—	182,400,526
Norway	908,381	34,366,697	—	35,275,078
Portugal	1,401,917	6,531,878	— ^*	7,933,795
Sweden	991,928	132,968,136	—	133,960,064
Switzerland	11,627,136	423,580,849	—	435,207,985
Preferred Stock
Germany	6,546,573	20,146,965	—	26,693,538
United Kingdom	—	—	56,212	56,212
Other Investment Company¹	14,091,813	—	—	14,091,813
Short-Term Investments¹	—	10,008,159	—	10,008,159
Futures Contracts²	78,365	—	—	78,365
Total	$205,933,608	$4,803,910,391	$56,212	$5,009,900,211

*	Level 3 amount shown includes securities determined to have no value at April 30, 2019.
¹	As categorized in the complete schedule of Portfolio Holdings.
²	Futures contracts are valued at unrealized appreciation or depreciation.

₇₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Equity Index Funds

Financial Notes, unaudited

1. Business Structure of the Funds:

Each of the funds in this report is a series of Schwab Capital Trust, except Schwab 1000 Index Fund, which is a series of Schwab Investments. Both Schwab Capital Trust and Schwab Investments (the trusts) are no-load, open-end management investment companies. Each trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended (the 1940 Act). The list below shows all the funds in the trusts as of the end of the period, including the funds discussed in this report, which are highlighted:

SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993)
Schwab S&P 500 Index Fund	Schwab Target 2040 Fund
Schwab Small-Cap Index Fund	Schwab Target 2045 Fund
Schwab Total Stock Market Index Fund	Schwab Target 2050 Fund
Schwab U.S. Large-Cap Growth Index Fund	Schwab Target 2055 Fund
Schwab U.S. Large-Cap Value Index Fund	Schwab Target 2060 Fund
Schwab U.S. Mid-Cap Index Fund	Schwab Fundamental US Large Company Index Fund
Schwab International Index Fund	Schwab Fundamental US Small Company Index Fund
Schwab MarketTrack All Equity Portfolio™	Schwab Fundamental International Large Company Index Fund
Schwab MarketTrack Growth Portfolio™	Schwab Fundamental International Small Company Index Fund
Schwab MarketTrack Balanced Portfolio™	Schwab Fundamental Emerging Markets Large Company Index Fund
Schwab MarketTrack Conservative Portfolio™	Schwab Fundamental Global Real Estate Index Fund
Laudus International MarketMasters Fund™	Schwab Target 2010 Index Fund
Schwab Balanced Fund	Schwab Target 2015 Index Fund
Schwab Core Equity Fund	Schwab Target 2020 Index Fund
Schwab Dividend Equity Fund	Schwab Target 2025 Index Fund
Schwab Large-Cap Growth Fund	Schwab Target 2030 Index Fund
Schwab Small-Cap Equity Fund	Schwab Target 2035 Index Fund
Schwab Hedged Equity Fund	Schwab Target 2040 Index Fund
Schwab Health Care Fund	Schwab Target 2045 Index Fund
Schwab International Core Equity Fund	Schwab Target 2050 Index Fund
Schwab Target 2010 Fund	Schwab Target 2055 Index Fund
Schwab Target 2015 Fund	Schwab Target 2060 Index Fund
Schwab Target 2020 Fund	Schwab Monthly Income Fund – Moderate Payout
Schwab Target 2025 Fund	Schwab Monthly Income Fund – Enhanced Payout
Schwab Target 2030 Fund	Schwab Monthly Income Fund – Maximum Payout
Schwab Target 2035 Fund

SCHWAB INVESTMENTS (ORGANIZED OCTOBER 26, 1990)
Schwab 1000 Index Fund	Schwab Tax-Free Bond Fund
Schwab Treasury Inflation Protected Securities Index Fund	Schwab California Tax-Free Bond Fund
Schwab U.S. Aggregate Bond Index Fund	Schwab Global Real Estate Fund
Schwab Short-Term Bond Index Fund

Each fund in this report offers one share class. Shares are bought and sold at closing net asset value per share (NAV), which is the price for all outstanding shares of a fund. Each share has a par value of 1/1,000 of a cent, and the funds’ Board of Trustees (the Board) may authorize the issuance of as many shares as necessary.

Each fund maintains its own account for purposes of holding assets and accounting, and is considered a separate entity for tax purposes. Within its account, each fund may also keep certain assets in segregated accounts, as required by securities law.

2. Significant Accounting Policies:

The following is a summary of the significant accounting policies the funds use in their preparation of financial statements. The funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946 Financial Services — Investment Companies. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (GAAP).

The funds may invest in certain other investment companies (underlying funds). For specific investments in underlying funds, please refer to the complete schedule of portfolio holdings on Form N-CSR(S) for this reporting period, which is filed with the U.S. Securities and Exchange Commission (SEC). For more information about the underlying funds’ operations and policies, please refer to those funds’ semiannual and annual reports, which are filed with the SEC and are available on the SEC’s website at www.sec.gov.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

Financial Notes, unaudited (continued)

2. Significant Accounting Policies (continued):

(a) Security Valuation:

Under procedures approved by the Board, the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the funds to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

The funds value the securities in their portfolios every business day. The funds use the following policies 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.

• Securities for which no quoted value is available: The Board has adopted procedures to fair value each fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. Each fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques 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. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. 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. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

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

• Futures contracts: Futures contracts are valued at their settlement prices as of the close of their exchanges.

• Underlying funds: Mutual funds are valued at their respective NAVs. Exchange-traded funds (ETFs) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the funds disclose the fair value of their investments in a hierarchy that prioritizes the significant inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. If the funds determine 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 management 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 securities—Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities, ETFs and futures contracts. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by an underlying fund.

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Schwab Equity Index Funds | Semiannual Report

Schwab Equity Index Funds

Financial Notes, unaudited (continued)

2. Significant Accounting Policies (continued):

• Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)—Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. In addition, international securities whose markets close hours before the funds value their holdings may require fair valuations due to significant movement in the U.S. markets occurring after the daily close of the foreign markets. The Board has approved a vendor that calculates fair valuations of international equity securities based on a number of factors that appear to correlate to the movements in the U.S. markets.

• Level 3—significant unobservable inputs (including the funds’ own 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 available for these securities, the funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds 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 by the funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations.

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

The levels associated with valuing the funds’ investments as of April 30, 2019 are disclosed in the Condensed Portfolio Holdings.

(b) Accounting Policies for certain Portfolio Investments (if held):

Futures Contracts: Futures contracts are instruments that represent an agreement between two parties that obligates one party to buy, and the other party to sell, specific instruments at an agreed upon price on a stipulated future date. A fund must give the broker a deposit of cash and/or securities (initial margin) whenever it enters into a futures contract. The amount of the deposit may vary from one contract to another. Subsequent payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized appreciation or depreciation until the contract is closed, at which time the gains or losses are realized. Futures contracts are traded publicly on exchanges, and their market value may change daily.

Securities Lending: Under the trusts’ Securities Lending Program, a fund (lender), may make short-term loans of its securities to another party (borrower) to generate additional revenue for the fund. The borrower pledges collateral in the form of cash, securities issued or fully guaranteed by the U.S. government or foreign governments, or letters of credit issued by a bank. Collateral at the individual loan level is required to be maintained on a daily marked-to-market basis in an amount at least equal to the current value of the securities loaned. The lending agent provides a fund with indemnification against borrower default (the borrower fails to return the security on loan) reducing the risk of loss as a result of default. The cash collateral of securities loaned is currently invested in money market portfolios operating under Rule 2a-7 of the 1940 Act. Each fund bears the risk of loss with respect to the investment of cash collateral. The terms of the securities lending agreement allow the funds or the lending agent to terminate any loan at any given time and the securities must be returned within the earlier of the standard trade settlement period or the specified time period under the relevant securities lending agreement. Securities lending income, as disclosed in each fund’s Statement of Operations, if applicable, represents the income earned from the investment of the cash collateral plus any fees paid by borrowers, less the fees paid to the lending agent and broker rebates which are subject to adjustments pursuant to the securities lending agreement. On loans not collateralized by cash, a fee is received from the borrower, and is allocated between a fund and the lending agent. The aggregate market value of securities loaned will not at any time exceed one-third of the total assets of a fund, including collateral received from the loan. Securities lending fees paid to the unaffiliated lending agents start at 10% of gross lending revenue, with subsequent breakpoints to a low of 7.5%. Any expenses charged by the cash collateral fund are in addition to these fees.

As of April 30, 2019, the funds had securities on loan, all of which were classified as common stocks. The value of the securities on loan and the related collateral as of April 30, 2019, if any, are disclosed in each fund’s Condensed Portfolio Holdings. The value of the securities on loan and the investment of cash collateral are also disclosed in each fund’s Statement of Assets and Liabilities.

Cash Management Transactions: The funds, except for Schwab 1000 Index Fund, Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund and Schwab U.S. Mid-Cap Index Fund may subscribe to the Brown Brothers Harriman & Co. (BBH) Cash Management Service Sweep (CMS Sweep). The BBH CMS Sweep is an investment product that automatically

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Financial Notes, unaudited (continued)

2. Significant Accounting Policies (continued):

sweeps the funds’ cash balances into overnight offshore time deposits with either the BBH Grand Cayman branch or a branch of a pre-approved commercial bank. This fully automated program allows the funds to earn interest on cash balances. Excess cash invested with deposit institutions domiciled outside of the U.S., as with any offshore deposit, may be subject to sovereign actions in the jurisdiction of the deposit institution including, but not limited to, freeze, seizure or diminution. The funds bear the risk associated with the repayment of principal and payment of interest on such instruments by the institution with which the deposit is ultimately placed. Balances in the CMS Sweep are accounted for on a cost basis, which approximates market value.

Security transactions are recorded as of the date the order to buy or sell the security is executed. Realized gains and losses from security transactions are based on the identified costs of the securities involved.

Assets and liabilities denominated in foreign currencies are reported in U.S. dollars. For assets and liabilities held on a given date, the dollar value is based on market exchange rates in effect on that date. Transactions involving foreign currencies, including purchases, sales, income receipts and expense payments, are calculated using exchange rates in effect on the transaction date. Realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions and the differences between the recorded amounts of dividends, interest, and foreign withholding taxes and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange appreciation or depreciation arises from changes in foreign exchange rates on foreign denominated assets and liabilities other than investments in securities held at the end of the reporting period. These realized and unrealized foreign exchange gains or losses are reported in foreign currency transactions or translations in the Statement of Operations. The funds do not isolate the portion of the fluctuations on investments resulting from changes in foreign currency exchange rates from the fluctuations in market prices of investments held. Such fluctuations are included with the net realized and unrealized gain or loss from investments.

Gains realized by the funds on the sale of securities in certain foreign countries may be subject to non-U.S. taxes. In those instances, the funds record a liability based on unrealized appreciation to provide for potential non-U.S. taxes payable upon the sale of these securities.

When a fund closes out a futures contract position, it calculates the difference between the value of the position at the beginning and at the end of the contract, and records a realized gain or loss accordingly.

(d) Investment Income:

Interest income is recorded as it accrues. Dividends, in the form of cash or non-cash income such as in the form of additional securities, and distributions from portfolio securities and underlying funds are recorded on the date they are effective (the ex-dividend date), although the funds record certain foreign security dividends on the day they learn of the ex-dividend date. Any distributions from underlying funds are recorded in accordance with the character of the distributions as designated by the underlying funds.

Income received from foreign sources may result in withholding tax. Withholding taxes are accrued at the same time as the related income if the tax rate is fixed and known, unless a tax withheld is reclaimable from the local tax authorities in which case it is recorded as receivable. If the tax rate is not known or estimable, such expense or reclaim receivable is recorded when the net proceeds are received.

In 2015, the Schwab International Index Fund filed claims to recover taxes previously withheld in certain European Union countries on the basis that those countries had purportedly violated certain provisions in the Treaty on the Functioning of the European Union. These filings are subject to various administrative and judicial proceedings within these countries, and all professional fees associated with these filings have been paid by the investment adviser. For additional details, see Affiliates and Affiliated Transactions in financial note 4, Other Affiliated Transactions.

(e) Expenses:

Pursuant to an Amended and Restated Investment Advisory and Administration Agreement (Advisory Agreement) between Charles Schwab Investment Management, Inc. (CSIM or the investment adviser) and each trust, CSIM pays the operating expenses of each fund, excluding acquired fund fees and expenses, taxes, any brokerage expenses, and extraordinary or non-routine expenses. Taxes, any brokerage expenses and extraordinary or non-routine expenses that are specific to a fund are charged directly to the fund.

(f) Distributions to Shareholders:

The funds make distributions from net investment income and net realized capital gains, if any, once a year.

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Financial Notes, unaudited (continued)

2. Significant Accounting Policies (continued):

(g) Accounting Estimates:

The accounting policies described in this report conform to GAAP. Notwithstanding this, shareholders should understand that in order to follow these principles, fund management has to make estimates and assumptions that affect the information reported in the financial statements. It’s possible that once the results are known, they may turn out to be different from these estimates and these differences may be material.

(h) Federal Income Taxes:

The funds intend to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the funds distribute substantially all of their net investment income and net realized capital gains, if any, to their respective shareholders each year. As long as a fund meets the tax requirements, it is not required to pay federal income tax.

(i) Foreign Taxes:

The funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, corporate events, foreign currency exchanges and capital gains on investments. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in foreign markets in which the funds invest. These foreign taxes, if any, are paid by the funds and are disclosed in the Statement of Operations. Foreign taxes payable as of April 30, 2019, if any, are reflected in each fund’s Statement of Assets and Liabilities.

(j) Indemnification:

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

(k) Recent Accounting Standards:

In August 2018, the FASB issued Accounting Standards Update “Fair Value Measurement (Topic 820)” (ASU 2018-13) which modifies the disclosure requirements for fair value measurement by removing, modifying, or adding certain disclosures. The amendments are effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. The funds are permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until their effective date. The funds have early adopted certain removed or modified disclosures, including the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of transfers between levels upon issuance of ASU 2018-13, and have delayed adoption of the additional disclosures until their effective date. At this time, management is currently evaluating the impact that the adoption of the additional disclosures will have on the funds’ financial statements.

3. Risk Factors:

Investing in the funds may involve certain risks, as discussed in the funds’ prospectuses, including, but not limited to, those described below. Any of these risks could cause an investor to lose money.

Market Risk. Financial markets rise and fall in response to a variety of factors, sometimes rapidly and unpredictably. As with any investment whose performance is tied to these markets, the value of an investment in a fund will fluctuate, which means that an investor could lose money over short or long periods.

Equity Risk. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.

Tracking Error Risk. As an index fund, each fund seeks to track the performance of its respective index, although it may not be successful in doing so. The divergence between the performance of a fund and the index, positive or negative, is called “tracking error.” Tracking error can be caused by many factors and it may be significant.

Investment Style Risk. The funds are index funds. Therefore, each fund follows the securities included in its respective index during upturns as well as downturns. Because of its indexing strategy, a fund does not take steps to reduce market exposure or to lessen the effects of a declining market. In addition, because of a fund’s expenses, a fund’s performance may be below that of the index.

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Financial Notes, unaudited (continued)

3. Risk Factors (continued):

Sampling Index Tracking Risk. To the extent a fund uses sampling techniques, a fund will not fully replicate its index and may hold securities not included in the index. As a result, a fund will be subject to the risk that the investment adviser’s investment strategy, the implementation of which is subject to a number of constraints, may not produce the intended results. If a fund utilizes a sampling approach, it may not track the return of the index as well as it would if the fund purchased all of the securities in the index.

Concentration Risk. To the extent that a fund’s or an index’s portfolio is concentrated in the securities of issuers in a particular market, industry, group of industries, sector, country or asset class, the fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more vulnerable to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector, country or asset class.

Market Capitalization Risk. Securities issued by companies of different market capitalizations tend to go in and out of favor based on market and economic conditions. During a period when securities of a particular market capitalization fall behind other types of investments, a fund’s performance could be impacted.

Large-Cap Company Risk. Large-cap companies are generally more mature and the securities issued by these companies may not be able to reach the same levels of growth as the securities issued by small- or mid-cap companies.

Mid-Cap Company Risk. Mid-cap companies may be more vulnerable to adverse business or economic events than larger, more established companies and the value of securities issued by these companies may move sharply.

Small-Cap Company Risk. Securities issued by small-cap companies may be riskier than those issued by larger companies, and their prices may move sharply, especially during market upturns and downturns.

Growth Investing Risk. Growth stocks can be volatile. Growth companies usually invest a high portion of earnings in their businesses and may lack the dividends of value stocks that can cushion stock prices in a falling market. The prices of growth stocks are based largely on projections of the issuer’s future earnings and revenues. If a company’s earnings or revenues fall short of expectations, its stock price may fall dramatically. Growth stocks may also be more expensive relative to their earnings or assets compared to value or other stocks.

Value Investing Risk. A fund may emphasize “value” style of investing, which targets undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on “value” securities may not move in tandem with the returns on other styles of investing or the stock market in general.

Foreign Investment Risk. A fund’s investments in securities of foreign issuers involve certain risks that may be greater than those associated with investments in securities of U.S. issuers. These include risks of adverse changes in foreign economic, political, regulatory and other conditions; changes in currency exchange rates or exchange control regulations (including limitations on currency movements and exchanges); the imposition of economic sanctions or other government restrictions; differing accounting, auditing, financial reporting and legal standards and practices; differing securities market structures; and higher transaction costs. These risks may negatively impact the value or liquidity of a fund’s investments, and could impair the fund’s ability to meet its investment objective or invest in accordance with its investment strategy. There is a risk that investments in securities denominated in, and/or receiving revenues in, foreign currencies will decline in value relative to the U.S. dollar. To the extent a fund’s investments in a single country or a limited number of countries represent a large percentage of the fund’s assets, the fund’s performance may be adversely affected by the economic, political, regulatory and social conditions in those countries, and the fund’s price may be more volatile than the price of a fund that is geographically diversified.

Derivatives Risk. A fund may use derivatives to enhance returns or hedge against market declines. Examples of derivatives are futures and options on futures. An option is the right to buy or sell an instrument at a specific price before a specific date. A future is an agreement to buy or sell a financial instrument at a specific price on a specific day. The use of derivatives that are subject to regulation by the Commodity Futures Trading Commission (CFTC) could cause the fund to become a commodity pool, which would require the fund to comply with certain CFTC rules.

A fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Certain of these risks, such as liquidity risk and market risk, are discussed elsewhere in this section. A fund’s use of derivatives is also subject to lack of availability risk, credit risk, leverage risk, valuation risk, correlation risk and tax risk. Lack of availability risk is the risk that suitable derivative transactions may not be available in all circumstances for risk management or other purposes. Credit risk is the risk that the counterparty to a derivatives transaction may not fulfill its obligations. Leverage risk is the risk that a small percentage of assets invested in derivatives can have a disproportionately large impact on a fund. Valuation risk is the risk that a particular derivative may be valued incorrectly. Correlation

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Financial Notes, unaudited (continued)

3. Risk Factors (continued):

risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Tax risk is the risk that the use of derivatives may cause a fund to realize higher amounts of short-term capital gains. A fund’s use of derivatives could reduce the fund’s performance, increase its volatility, and could cause the fund to lose more than the initial amount invested.

Liquidity Risk. A fund may be unable to sell certain securities, such as illiquid securities, readily at a favorable time or price, or the fund may have to sell them at a loss.

Securities Lending Risk. Securities lending involves the risk of loss of rights in, or delay in recovery of, the loaned securities if the borrower fails to return the security loaned or becomes insolvent.

Please refer to the funds’ prospectuses for a more complete description of the principal risks of investing in the funds.

4. Affiliates and Affiliated Transactions:

Investment Adviser

CSIM, a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund’s investment adviser and administrator pursuant to an Advisory Agreement between CSIM and each trust.

For its advisory and administrative services to the funds, CSIM is entitled to receive an annual fee, payable monthly, based on a percentage of each fund’s average daily net assets as follows:

Schwab S&P 500 Index Fund	Schwab 1000 Index Fund	Schwab Small-Cap Index Fund	Schwab Total Stock Market Index Fund	Schwab U.S. Large-Cap Growth Index Fund	Schwab U.S. Large-Cap Value Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
0.02%	0.05%	0.04%	0.03%	0.035%	0.035%	0.04%	0.06%

Prior to December 20, 2018, the advisory and administrative services fee of each fund were as follows:

Schwab S&P 500 Index Fund	Schwab 1000 Index Fund	Schwab Small-Cap Index Fund	Schwab Total Stock Market Index Fund	Schwab U.S. Large-Cap Growth Index Fund	Schwab U.S. Large-Cap Value Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
0.03%	0.05%	0.05%	0.03%	0.04%	0.04%	0.05%	0.06%

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Financial Notes, unaudited (continued)

4. Affiliates and Affiliated Transactions (continued):

Investments from Affiliates

Certain funds in the Fund Complex (for definition refer to Trustees and Officers section) may own shares of other funds in the Fund Complex. The table below reflects the percentages of shares of each fund in this report that are owned by other funds in the Fund Complex as of April 30, 2019, as applicable:

	Underlying Funds
	Schwab S&P 500 Index Fund	Schwab Small-Cap Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
Schwab MarketTrack All Equity Portfolio	0.6%	2.8%	—%	1.9%
Schwab MarketTrack Balanced Portfolio	0.3%	1.3%	—%	0.8%
Schwab MarketTrack Conservative Portfolio	0.1%	0.4%	—%	0.2%
Schwab MarketTrack Growth Portfolio	0.6%	2.7%	—%	1.6%
Schwab Target 2010 Fund	0.0%*	—%	0.2%	—%
Schwab Target 2015 Fund	0.0%*	—%	0.2%	—%
Schwab Target 2020 Fund	0.2%	—%	1.7%	—%
Schwab Target 2025 Fund	0.2%	—%	2.3%	—%
Schwab Target 2030 Fund	0.4%	—%	4.4%	—%
Schwab Target 2035 Fund	0.2%	—%	2.2%	—%
Schwab Target 2040 Fund	0.4%	—%	5.5%	—%
Schwab Target 2045 Fund	0.1%	—%	0.8%	—%
Schwab Target 2050 Fund	0.1%	—%	0.8%	—%
Schwab Target 2055 Fund	0.0%*	—%	0.5%	—%
Schwab Target 2060 Fund	0.0%*	—%	0.1%	—%

*	Less than 0.05%

Other Affiliated Transactions

The professional fees related to foreign withholding tax claims discussed in financial note 2 were non-routine expenses. However, the investment adviser agreed to pay these professional fees, subject to reimbursement by the Schwab International Index Fund to the extent the fund is able to successfully recover taxes withheld in the future.

Schwab International Index Fund has recovered previously withheld foreign taxes from Finland. The investment adviser has paid upfront professional fees associated with recovering these foreign taxes in the amount of $131,932 for Schwab International Index Fund and the amount of $58,864 has been reimbursed to the investment adviser by the fund.

As of April 30, 2019, the balance of professional fees related to foreign withholding tax subject to future reimbursement to the investment adviser was $73,068 for Schwab International Index Fund.

No other amounts for additional tax reclaims are reflected in the financial statements due to the uncertainty surrounding the ultimate resolution of proceedings, the likelihood of receipt of these claims, and the potential timing of payment.

Interfund Borrowing and Lending

Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other funds in the Fund Complex. All loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the overnight repurchase agreement rate and the short-term bank loan rate. All loans are subject to numerous conditions designed to ensure fair and equitable treatment of all participating funds. The interfund lending facility is subject to the oversight and periodic review by the Board. The funds had no interfund borrowing or lending activity during the period.

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Financial Notes, unaudited (continued)

4. Affiliates and Affiliated Transactions (continued):

Interfund Transactions

The funds may engage in transactions with certain other funds in the Fund Complex when permitted by applicable law. When one fund is seeking to sell a security that another is seeking to buy, an interfund transaction can allow both funds to benefit by reducing transaction costs. This practice is limited to funds that share the same investment adviser, trustees and/or officers. For the period ended April 30, 2019, each fund’s total aggregate security transactions with other funds in the Fund Complex as well as any realized gains (losses) were as follows:

	Total Aggregate Transactions	Realized Gains (Losses)
Schwab S&P 500 Index Fund	$145,631,690	($27,070,893)
Schwab 1000 Index Fund	29,183,029	2,805,756
Schwab Small-Cap Index Fund	32,705,270	(11,664,586)
Schwab Total Stock Market Index Fund	78,524,848	(8,520,207)
Schwab U.S. Large-Cap Growth Index Fund	390,905	(52,989)
Schwab U.S. Large-Cap Value Index Fund	849,969	(39,886)
Schwab U.S. Mid-Cap Index Fund	1,297,903	(172,044)
Schwab International Index Fund	6,466,093	(4,066,591)

5. Board of Trustees:

The Board may include people who are officers and/or directors of CSIM or its affiliates. Federal securities law limits the percentage of such “interested persons” who may serve on a trust’s board, and the trusts were in compliance with these limitations throughout the report period. The funds do not pay any interested or non-interested (independent trustees) trustees. The independent trustees are paid by CSIM. For information regarding the trustees, please refer to the Trustees and Officers table at the end of this report.

6. Borrowing from Banks:

During the period, the funds were participants with other U.S. registered investment companies managed by CSIM in a joint, syndicated, committed $750 million line of credit (the Syndicated Credit Facility), maturing on October 3, 2019. Under the terms of the Syndicated Credit Facility, in addition to CSIM paying the interest charged on any borrowings by a fund, CSIM paid a commitment fee of 0.15% per annum on the funds’ proportionate share of the unused portion of the Syndicated Credit Facility.

During the period, the funds were participants with other U.S. registered investment companies managed by CSIM in a joint, unsecured, uncommitted $500 million line of credit (the Uncommitted Credit Facility), with State Street Bank and Trust Company, which matured on November 30, 2018. On November 30, 2018, the Uncommitted Credit Facility was amended to run for a new 364 day period, maturing on November 29, 2019. Under the terms of the Uncommitted Credit Facility, CSIM pays interest on the amount a fund borrows. There were no borrowings from either line of credit during the period.

The funds also have access to custodian overdraft facilities. A fund may have utilized the overdraft facility and incurred an interest expense, which is paid by CSIM. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.

7. Derivatives:

Certain funds entered into equity index futures contracts during the report period. The funds invested in futures contracts to equitize available cash. The current value and variation margin for futures contracts held at April 30, 2019 are presented on the Condensed Portfolio Holdings and Statement of Assets and Liabilities, respectively. The net realized and change in unrealized gains (losses) on futures contracts are presented on the Statement of Operations, if any. Refer to financial note 2(b) for the funds’

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Financial Notes, unaudited (continued)

7. Derivatives (continued):

accounting policies with respect to futures contracts and financial note 3 for disclosures concerning the risks of investing in futures contracts. During the period ended April 30, 2019, the month-end average notional amounts of futures contracts held by the funds and the month-end average number of contracts held were as follows:

	Notional Amounts	Number of Contracts
Schwab S&P 500 Index Fund	$185,640,189	1,368
Schwab 1000 Index Fund	36,908,679	271
Schwab Small-Cap Index Fund	25,723,064	344
Schwab Total Stock Market Index Fund	47,396,073	387
Schwab U.S. Large-Cap Growth Index Fund	410,035	6
Schwab U.S. Large-Cap Value Index Fund	578,058	10
Schwab U.S. Mid-Cap Index Fund	1,353,139	7
Schwab International Index Fund	28,451,896	313

8. Purchases and Sales of Investment Securities:

For the period ended April 30, 2019, purchases and sales of securities (excluding short-term obligations) were as follows:

	Purchases of Securities	Sales of Securities
Schwab S&P 500 Index Fund	$1,651,398,214	$405,937,127
Schwab 1000 Index Fund	177,098,349	188,877,307
Schwab Small-Cap Index Fund	356,465,590	102,392,579
Schwab Total Stock Market Index Fund	694,205,581	100,860,118
Schwab U.S. Large-Cap Growth Index Fund	64,761,654	31,470,318
Schwab U.S. Large-Cap Value Index Fund	103,580,274	7,527,259
Schwab U.S. Mid-Cap Index Fund	130,992,008	29,910,496
Schwab International Index Fund	605,243,513	158,024,332

9. Federal Income Taxes:

As of April 30, 2019, the tax basis cost of the funds’ investments and gross unrealized appreciation and depreciation were as follows:

	Schwab S&P 500 Index Fund	Schwab 1000 Index Fund	Schwab Small-Cap Index Fund	Schwab Total Stock Market Index Fund	Schwab U.S. Large-Cap Growth Index Fund
Tax cost	$19,620,605,972	$2,209,781,501	$3,277,588,489	$5,940,422,893	$125,771,617
Gross unrealized appreciation	$19,430,113,785	$6,376,633,248	$1,361,924,461	$3,988,552,684	$16,542,544
Gross unrealized depreciation	(620,386,033)	(42,565,063)	(342,917,789)	(191,780,887)	(1,497,396)
Net unrealized appreciation (depreciation)	$18,809,727,752	$6,334,068,185	$1,019,006,672	$3,796,771,797	$15,045,148

	Schwab U.S. Large-Cap Value Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
Tax cost	$167,100,034	$280,694,415	$4,280,943,161
Gross unrealized appreciation	$16,374,870	$29,013,236	$994,303,044
Gross unrealized depreciation	(2,737,527)	(8,515,833)	(265,345,994)
Net unrealized appreciation (depreciation)	$13,637,343	$20,497,403	$728,957,050

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Financial Notes, unaudited (continued)

9. Federal Income Taxes (continued):

Capital loss carryforwards may be used to offset future realized capital gains for federal income tax purposes. As of October 31, 2018, the funds had capital loss carryforwards available to offset future net capital gains as follows:

Expiration Date	Schwab S&P 500 Index Fund	Schwab 1000 Index Fund	Schwab Small-Cap Index Fund	Schwab Total Stock Market Index Fund	Schwab U.S. Large-Cap Growth Index Fund
No expiration	$—	$—	$—	$—	$195,435
Total	$—	$—	$—	$—	$195,435

Expiration Date	Schwab U.S. Large-Cap Value Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
No expiration	$—	$—	$99,207,933
Total	$—	$—	$99,207,933

The tax-basis components of distributions and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of April 30, 2019. The tax-basis components of distributions paid during the year ended October 31, 2018 were as follows:

	Schwab S&P 500 Index Fund	Schwab 1000 Index Fund	Schwab Small-Cap Index Fund	Schwab Total Stock Market Index Fund	Schwab U.S. Large-Cap Growth Index Fund
Ordinary income	$554,866,625	$134,342,862	$61,629,828	$118,432,377	$—
Long-term capital gains	—	189,924,986	119,643,043	11,101,631	—

	Schwab U.S. Large-Cap Value Index Fund	Schwab U.S. Mid-Cap Index Fund	Schwab International Index Fund
Ordinary income	$—	$—	$112,933,005
Long-term capital gains	—	—	—

As of October 31, 2018, management has reviewed the tax positions for open periods (for federal purposes, three years from the date of filing and for state purposes, four years from the date of filing) as applicable to the funds, and has determined that no provision for income tax is required in the funds’ financial statements. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the period ended October 31, 2018, the funds did not incur any interest or penalties.

10. Subsequent Events:

Management has determined there are no subsequent events or transactions through the date the financial statements were issued that would have materially impacted the financial statements as presented.

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Schwab Equity Index Funds

Investment Advisory Agreement Approval

The Investment Company Act of 1940, as amended, requires that initial approval of, as well as the continuation or amendment of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the Independent Trustees), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.

At a meeting held on December 11, 2018, the Board of Trustees (the Board or the Trustees, as appropriate), including a majority of the Independent Trustees, considered information specifically relating to its consideration of the approval of an amendment to the investment advisory and administration agreement (the Amendment) between Schwab Capital Trust and Charles Schwab Investment Management, Inc. (CSIM) with respect Schwab Small-Cap Index Fund, Schwab S&P 500 Index Fund, Schwab U.S. Large-Cap Growth Index Fund, Schwab U.S. Large-Cap Value Index Fund and Schwab U.S. Mid-Cap Index Fund (the Funds) to reflect a reduction in the fee paid by the Funds to CSIM as compensation for CSIM’s services rendered to the Funds. The Board reviewed materials provided by CSIM relating to this change (including a representation by CSIM that the change will not result in any

reduction in the nature and level of services provided to the Fund by CSIM) and also took into account the extensive information that the Board reviewed and the conclusions it reached at its April 26, 2018 and June 5, 2018 meetings, in connection with its annual consideration and approval of the continuation of the Funds’ investment advisory and administration agreement. The discussion regarding the information that the Board reviewed and the conclusions it reached at its April 26, 2018 and June 5, 2018 meetings is available in the Funds’ annual report, which covers the period November 1, 2017 through October 31, 2018. Because the Board had conducted a full review of the Funds’ investment advisory and administration agreement at its April 26, 2018 meeting, and intends to conduct another such review at its May 13, 2019 meeting, it limited its discussions at the December 11, 2018 meeting primarily to the proposed Amendment.

Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including a majority of the Independent Trustees, approved the Amendment with respect to the Funds effective December 20, 2018 and concluded that the compensation payable by the Funds to CSIM under the Amendment is fair and reasonable in light of the services CSIM renders to (and the expenses it bears relating to) the Funds and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment.

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Schwab Equity Index Funds

Trustees and Officers

The tables below give information about the trustees and officers of Schwab Capital Trust and Schwab Investments, which includes the funds covered in this report. The “Fund Complex” includes The Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust. The Fund Complex includes 98 funds.

The address for all trustees and officers is 211 Main Street, San Francisco, CA 94105. You can find more information about the trustees and officers in the funds’ Statement of Additional Information, which is available free by calling 1-877-824-5615.

Independent Trustees
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served¹)	Principal Occupations During the Past Five Years	Number of Portfolios in Fund Complex Overseen by the Trustee	Other Directorships
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016)	Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds.	98	None
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016)	Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University.	98	Director (2005 – present), Gilead Sciences, Inc.
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018)	President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services).	98	None
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016)	CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting).	98	None

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Schwab Equity Index Funds

Independent Trustees (continued)
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served¹)	Principal Occupations During the Past Five Years	Number of Portfolios in Fund Complex Overseen by the Trustee	Other Directorships
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016)	Private Investor.	98	Director (2003 – present), Symantec Corporation Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc.
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019)	Chief Investment Officer (2009-2017), CareGroup Healthcare System, Inc. (healthcare).	98	None
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016)	Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses).	98	Director (2008 – present), KLA-Tencor Corporation
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016)	Consultant (2008 – present), Patmore Management Consulting (management consulting).	98	None
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016)	Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors).	98	Director (2012 – present), Eaton

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Interested Trustees
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served¹)	Principal Occupations During the Past Five Years	Number of Portfolios in Fund Complex Overseen by the Trustee	Other Directorships
Walter W. Bettinger II² 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010)	Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank; Director (Nov. 2017 – present), Charles Schwab Premier Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (July 2016 – present), Charles Schwab Investment Management, Inc.	98	Director (2008 – present), The Charles Schwab Corporation
Jonathan de St. Paer² 1973 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019)	Director and Chief Executive Officer (Apr. 2019 – present) and President (Oct. 2018 – present) Charles Schwab Investment Management, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc.	98	None
Joseph R. Martinetto² 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016)	Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director (Nov. 2017 – present), Charles Schwab Premier Bank; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.	98	None

Officers of the Trust
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served³)	Principal Occupations During the Past Five Years
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018)	Director and Chief Executive Officer (Apr. 2019 – present) and President (Oct. 2018 – present) Charles Schwab Investment Management, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc.

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Officers of the Trust (continued)
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served³)	Principal Occupations During the Past Five Years
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013)	Treasurer and Chief Financial Officer (Jan. 2016 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management.
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009)	Senior Vice President and Chief Financial Officer (Nov. 2004 – present) and Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Treasurer and Chief Financial Officer (June 2006 – Dec. 2015), Laudus Funds; Treasurer and Principal Financial Officer (Nov. 2004 – Dec. 2015), Schwab Funds; Treasurer and Principal Financial Officer (Oct. 2009 – Dec. 2015), Schwab ETFs; Director (Apr. 2005 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited.
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011)	Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management.
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011)	Senior Vice President and Chief Investment Officer – Fixed Income (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director, Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm).
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011)	Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs.
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009)	Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs.

¹	Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first.
²	Mr. Bettinger, Mr. de St. Paer and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co.
³	The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board.

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Schwab Equity Index Funds

Glossary

asset allocation The practice of dividing a portfolio among different asset classes, with each asset class assigned a particular percentage.

asset class A group of securities with similar structure and basic characteristics. Stocks, bonds and cash are the three main examples of asset classes.

Bloomberg Barclays US Aggregate Bond Index An index that is a broad-based benchmark measuring the performance of the U.S. investment grade, taxable bond market, including U.S. Treasuries, government-related and corporate bonds, mortgage pass-through securities, commercial mortgage-backed securities, and asset-backed securities that are publicly available for sale in the United States. To be eligible for inclusion in the index, securities must be fixed rate, non-convertible, U.S. dollar denominated with at least $300 million or more of outstanding face value and have one or more years remaining to maturity. The index excludes certain types of securities, including tax-exempt state and local government series bonds, structured notes embedded with swaps or other special features, private placements, floating rate securities, inflation-linked bonds and Eurobonds. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.

Bloomberg Barclays US Treasury Bills 1–3 Month Index An index that includes all publicly issued zero-coupon U.S. Treasury Bills that have a remaining maturity of less than 3 months but more than 1 month, are rated investment grade and have $250 million or more of outstanding face value. It excludes zero-coupon STRIPS.

bond A security representing a loan from the investor to the issuer. A bond typically pays interest at a fixed rate (the coupon rate) until a specified date (the maturity date), at which time the issuer returns the money borrowed (principal or face value) to the bondholder. Because of their structure, bonds are sometimes called “fixed income securities” or “debt securities.”

An individual bond is subject to the credit risk of the issuer. Changes in interest rates can affect a bond’s market value prior to call or maturity. There is no guarantee that a bond’s yield to call or maturity will provide a positive return over the rate of inflation.

bond fund A bond fund is subject to the same credit, interest rate, and inflation risks as bonds. In addition, a bond fund incurs ongoing fees and expenses. A bond fund’s net asset value will fluctuate with the price of the underlying bonds and the portfolio turnover activity; return of principal is not guaranteed.

cap, capitalization See “market cap.”

capital gain, capital loss the difference between the amount paid for an investment and its value at a later time. If the investment has been sold, the capital gain or loss is considered a realized gain or loss. If the investment is still held, the capital gain or loss is considered unrealized appreciation or depreciation.

Dow Jones U.S. Total Stock Market Index An index which includes all publicly traded stocks of companies headquartered in the United States for which pricing information is readily available. The index is a float-adjusted market capitalization weighted index that reflects the shares of securities actually available to investors in the marketplace.

expense ratio The amount that is taken from a mutual fund’s assets each year to cover the fund’s operating expenses. An expense ratio of 0.50% means that a fund’s expenses amount to half of one percent of its average net assets a year.

International Spliced Index An internally calculated index comprised of the Schwab International Index from inception of the Schwab International Index Fund until the close of business on December 20, 2011, the MSCI EAFE Index from December 21, 2011 until the close of business on February 28, 2013, and the MSCI EAFE Index (Net) from March 1, 2013 forward.

market cap, market capitalization The value of a company as determined by the total value of all shares of its stock outstanding.

MSCI EAFE Index (Net) A free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets in Europe, Australasia, and the Far East. The Net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes; returns are calculated applying dividend withholding rates applicable to non-resident persons who do not benefit from double taxation treaties.

net asset value (NAV) The value of one share of a mutual fund. NAV is calculated by taking the fund’s total assets, subtracting liabilities, and dividing by the number of shares outstanding.

outstanding shares, shares outstanding When speaking of a company or mutual fund, indicates all shares currently held by investors.

price-to-book ratio (P/B) The market price of a company’s stock compared with its “book value.” A mutual fund’s P/B is the weighted average of the P/B of all stocks in the fund’s portfolio.

price-to-earnings ratio (P/E) The market price of a company’s stock compared with earnings over the past year. A mutual fund’s P/E is the weighted average of the P/E of all stocks in the fund’s portfolio.

restricted and illiquid securities Restricted securities are securities that are subject to legal restrictions on their sale. Restricted securities generally can be sold in privately negotiated transactions, pursuant to an exemption from registration under the Securities Act of 1933 (the 1933 Act), or in a registered public offering. Certain restricted securities, such as Section 4(a)(2) commercial paper and Rule 144A securities under the 1933 Act, may be considered to be liquid if they meet the criteria for liquidity established by the Board. Illiquid securities generally are any securities that cannot be disposed of promptly and in the ordinary course of business at approximately the amount at which a fund has valued the instruments. The liquidity of a fund’s investments is monitored under the supervision and direction of the Board. Investments currently not considered liquid include repurchase agreements not maturing within seven days and certain restricted securities.

return on equity (ROE) The average yearly rate of return for each dollar of investors’ money, measured over the past five years.

Russell 1000 Growth Index An index that measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.

Russell 1000 Index An index that measures the performance of the 1,000 largest companies in the Russell 3000 Index, and represents approximately 92% of the total market capitalization of the Russell 3000 Index. The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.

Russell 1000 Value Index An index that measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 Index companies with lower price-to-book ratios and lower expected growth values.

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Russell 2000 Index An index that measures the performance of the 2,000 smallest companies in the Russell 3000 Index. The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market.

Russell Midcap Index An index that measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap Index is a subset of the Russell 1000 Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership.

S&P 500 Index An index that is designed to measure the performance of 500 leading publicly traded companies from a broad range of industries.

Schwab 1000 Index A float-adjusted market capitalization weighted index developed by Charles Schwab & Co., Inc. that represents the performance of the largest 1,000 publicly traded companies in the United States. As a result of corporate actions, the index may be comprised of more or less than 1,000 securities.

Small-Cap Spliced Index An internally calculated index comprised of the Schwab Small-Cap Index from inception of the Schwab Small-Cap Index Fund until the close of business on December 14, 2011, and the Russell 2000 Index from December 15, 2011 forward.

stock A share of ownership, or equity, in the issuing company.

total return The percentage that an investor would have earned or lost on an investment in the fund assuming dividends and distributions were reinvested.

weighted average For mutual funds, an average that gives the same weight to each security as the security represents in the fund’s portfolio.

yield The income paid out by an investment, expressed as a percentage of the investment’s market value.

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Schwab Equity Index Funds

Charles Schwab Investment Management

With a straightforward lineup of core products and solutions for building the foundation of a portfolio, Charles Schwab Investment Management advocates for investors of all sizes with a steadfast focus on lowering costs and reducing unnecessary complexity. The list below shows all currently available Schwab Funds.

Investors should carefully consider information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses before investing. Please call 1-877-824-5615 for a prospectus for any Schwab Fund. Please read the prospectus carefully before you invest. This report must be preceded or accompanied by a current prospectus.

Proxy Voting Policies, Procedures and Results

A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab Funds’ website at www.schwabfunds.com/schwabfunds_prospectus, the SEC’s website at www.sec.gov, or by contacting Schwab Funds at 1-877-824-5615.

Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund’s website at www.schwabfunds.com/schwabfunds_prospectus or the SEC’s website at www.sec.gov.

The Schwab Funds Family^®

Equity Funds

Schwab Core Equity Fund

Schwab Dividend Equity Fund

Schwab Large-Cap Growth Fund

Schwab Small-Cap Equity Fund

Schwab Hedged Equity Fund

Schwab Health Care Fund

Schwab International Core Equity Fund

Schwab Fundamental US Large Company Index Fund

Schwab Fundamental US Small Company Index Fund

Schwab Fundamental International Large Company Index Fund

Schwab Fundamental International Small Company Index Fund

Schwab Fundamental Emerging Markets Large Company Index Fund

Schwab Fundamental Global Real Estate Index Fund

Schwab Global Real Estate Fund

Schwab S&P 500 Index Fund

Schwab 1000 Index^® Fund

Schwab Small-Cap Index Fund^®

Schwab Total Stock Market Index Fund^®

Schwab U.S. Large-Cap Growth Index Fund

Schwab U.S. Large-Cap Value Index Fund

Schwab U.S. Mid-Cap Index Fund

Schwab International Index Fund^®

Asset Allocation Funds

Schwab Balanced Fund

Schwab MarketTrack Portfolios^®

Schwab Target Funds

Schwab Target Index Funds

Schwab Monthly Income Funds

Bond Funds

Schwab Treasury Inflation Protected Securities Index Fund

Schwab U.S. Aggregate Bond Index Fund

Schwab Short-Term Bond Index Fund

Schwab Tax-Free Bond Fund¹

Schwab California Tax-Free Bond Fund¹

Schwab Money Funds²

Schwab provides a broad choice of taxable and tax-exempt money market funds for both retail and institutional client types.

Investment Adviser

Charles Schwab Investment Management, Inc.

211 Main Street, San Francisco, CA 94105

Funds

Schwab Funds^®

1-877-824-5615

State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation.

You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

Schwab S&P 500 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

The fund files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at www.sec.gov. Effective March 31, 2019, Form N-PORT Part F has replaced Form N-Q. The fund also makes available its complete schedule of portfolio holdings 15 to 20 days after the end of the month on the fund’s website at www.schwabfunds.com/schwabfunds_prospectus.

Security	Number of Shares	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 0.5%
Aptiv plc	407,285	34,904,325
BorgWarner, Inc.	327,994	13,700,309
Ford Motor Co.	6,119,648	63,950,322
General Motors Co.	2,041,670	79,523,046
Harley-Davidson, Inc.	253,351	9,432,258
		201,510,260

Banks 5.7%
Bank of America Corp.	14,043,116	429,438,487
BB&T Corp.	1,196,241	61,247,539
Citigroup, Inc.	3,676,744	259,945,801
Citizens Financial Group, Inc.	719,660	26,051,692
Comerica, Inc.	248,104	19,498,493
Fifth Third Bancorp	1,208,852	34,839,115
First Republic Bank	258,771	27,331,393
Huntington Bancshares, Inc.	1,636,968	22,786,595
JPMorgan Chase & Co.	5,118,002	593,944,132
KeyCorp	1,587,167	27,854,781
M&T Bank Corp.	216,203	36,769,644
People's United Financial, Inc.	613,125	10,600,931
Regions Financial Corp.	1,582,063	24,569,439
SunTrust Banks, Inc.	690,612	45,221,274
SVB Financial Group *	81,638	20,549,917
The PNC Financial Services Group, Inc.	708,658	97,036,540
U.S. Bancorp	2,355,694	125,605,604
Wells Fargo & Co.	6,399,992	309,823,613
Zions Bancorp NA	292,798	14,443,725
		2,187,558,715

Capital Goods 6.7%
3M Co.	899,215	170,410,235
A.O. Smith Corp.	218,924	11,508,835
Allegion plc	145,811	14,468,826
AMETEK, Inc.	356,825	31,461,260
Arconic, Inc.	628,815	13,506,946
Caterpillar, Inc.	898,196	125,226,486
Cummins, Inc.	225,253	37,457,321
Deere & Co.	497,232	82,356,536
Dover Corp.	227,049	22,259,884
Eaton Corp. plc	663,536	54,954,051
Emerson Electric Co.	961,616	68,265,120
Fastenal Co.	445,863	31,455,635
Flowserve Corp.	203,421	9,973,732
Fluor Corp.	218,021	8,661,974
Fortive Corp.	460,114	39,726,243
Fortune Brands Home & Security, Inc.	217,200	11,463,816
General Dynamics Corp.	423,070	75,611,070
General Electric Co.	13,616,331	138,478,086
Harris Corp.	185,518	31,259,783
Honeywell International, Inc.	1,140,223	197,976,919
Huntington Ingalls Industries, Inc.	64,329	14,318,349
Illinois Tool Works, Inc.	471,747	73,417,986
Ingersoll-Rand plc	379,371	46,514,678
Jacobs Engineering Group, Inc.	184,703	14,395,752

Security	Number of Shares	Value ($)
Johnson Controls International plc	1,422,122	53,329,575
L3 Technologies, Inc.	124,796	27,277,910
Lockheed Martin Corp.	384,918	128,304,717
Masco Corp.	457,098	17,854,248
Northrop Grumman Corp.	264,827	76,775,996
PACCAR, Inc.	542,047	38,848,508
Parker-Hannifin Corp.	202,582	36,683,549
Pentair plc	247,801	9,661,761
Quanta Services, Inc.	224,116	9,099,110
Raytheon Co.	442,021	78,498,509
Rockwell Automation, Inc.	187,365	33,858,729
Roper Technologies, Inc.	162,078	58,299,457
Snap-on, Inc.	86,648	14,581,125
Stanley Black & Decker, Inc.	237,163	34,768,096
Textron, Inc.	365,433	19,367,949
The Boeing Co.	821,372	310,223,991
TransDigm Group, Inc. *	76,425	36,876,591
United Rentals, Inc. *	124,172	17,498,318
United Technologies Corp.	1,266,497	180,615,137
W.W. Grainger, Inc.	70,063	19,757,766
Wabtec Corp.	217,331	16,097,707
Xylem, Inc.	282,231	23,538,065
		2,566,946,337

Commercial & Professional Services 0.7%
Cintas Corp.	132,781	28,832,066
Copart, Inc. *	314,600	21,178,872
Equifax, Inc.	188,220	23,706,309
IHS Markit Ltd. *	564,178	32,304,832
Nielsen Holdings plc	559,325	14,279,567
Republic Services, Inc.	333,280	27,602,250
Robert Half International, Inc.	185,042	11,489,258
Rollins, Inc.	234,760	9,078,169
Verisk Analytics, Inc.	256,402	36,188,578
Waste Management, Inc.	609,196	65,391,099
		270,051,000

Consumer Durables & Apparel 1.1%
Capri Holdings Ltd. *	238,940	10,532,475
D.R. Horton, Inc.	531,699	23,559,583
Garmin Ltd.	189,999	16,290,514
Hanesbrands, Inc.	559,275	10,106,099
Hasbro, Inc.	179,475	18,281,323
Leggett & Platt, Inc.	207,237	8,156,848
Lennar Corp., Class A	447,584	23,287,796
Mattel, Inc. *	538,671	6,566,399
Mohawk Industries, Inc. *	96,759	13,183,414
Newell Brands, Inc.	604,050	8,686,239
NIKE, Inc., Class B	1,968,908	172,929,190
PulteGroup, Inc.	401,926	12,644,592
PVH Corp.	120,039	15,483,831
Ralph Lauren Corp.	83,426	10,977,193
Tapestry, Inc.	453,028	14,619,214
Under Armour, Inc., Class A *	301,776	6,968,008
Under Armour, Inc., Class C *	286,892	5,944,402

₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
VF Corp.	505,050	47,681,770
Whirlpool Corp.	99,012	13,744,846
		439,643,736

Consumer Services 1.9%
Carnival Corp.	626,533	34,371,600
Chipotle Mexican Grill, Inc. *	38,024	26,162,033
Darden Restaurants, Inc.	191,954	22,573,790
H&R Block, Inc.	320,597	8,723,444
Hilton Worldwide Holdings, Inc.	457,148	39,767,305
Marriott International, Inc., Class A	440,344	60,071,729
McDonald's Corp.	1,196,780	236,447,825
MGM Resorts International	791,534	21,078,550
Norwegian Cruise Line Holdings Ltd. *	338,002	19,059,933
Royal Caribbean Cruises Ltd.	267,497	32,351,087
Starbucks Corp.	1,945,485	151,125,275
Wynn Resorts Ltd.	150,373	21,721,380
Yum! Brands, Inc.	480,711	50,181,421
		723,635,372

Diversified Financials 5.2%
Affiliated Managers Group, Inc.	80,700	8,951,244
American Express Co.	1,079,462	126,545,330
Ameriprise Financial, Inc.	210,686	30,922,384
Berkshire Hathaway, Inc., Class B *	3,039,609	658,713,666
BlackRock, Inc.	190,033	92,211,613
Capital One Financial Corp.	733,305	68,072,703
Cboe Global Markets, Inc.	177,352	18,020,737
CME Group, Inc.	559,436	100,083,100
Discover Financial Services	515,104	41,975,825
E*TRADE Financial Corp.	383,028	19,404,198
Franklin Resources, Inc.	461,424	15,960,656
Intercontinental Exchange, Inc.	889,368	72,350,087
Invesco Ltd.	627,020	13,775,629
Jefferies Financial Group, Inc.	409,551	8,424,464
Moody's Corp.	259,660	51,054,349
Morgan Stanley	2,034,470	98,163,178
MSCI, Inc.	131,177	29,564,672
Nasdaq, Inc.	180,931	16,681,838
Northern Trust Corp.	339,736	33,480,983
Raymond James Financial, Inc.	197,333	18,069,783
S&P Global, Inc.	389,637	85,977,300
State Street Corp.	591,765	40,038,820
Synchrony Financial	1,026,998	35,606,021
T. Rowe Price Group, Inc.	369,411	39,711,683
The Bank of New York Mellon Corp.	1,370,578	68,062,904
The Charles Schwab Corp. (a)	1,843,741	84,406,463
The Goldman Sachs Group, Inc.	536,117	110,397,213
		1,986,626,843

Energy 5.2%
Anadarko Petroleum Corp.	783,438	57,073,458
Apache Corp.	585,488	19,268,410
Baker Hughes, a GE Co.	800,827	19,235,865
Cabot Oil & Gas Corp.	665,522	17,230,365
Chevron Corp.	2,969,586	356,528,495
Cimarex Energy Co.	158,781	10,901,904
Concho Resources, Inc.	313,583	36,181,207
ConocoPhillips	1,773,128	111,919,839
Devon Energy Corp.	681,474	21,902,574
Diamondback Energy, Inc.	240,580	25,595,306
EOG Resources, Inc.	907,510	87,166,336
Exxon Mobil Corp.	6,622,029	531,616,488
Halliburton Co.	1,366,923	38,724,929
Helmerich & Payne, Inc.	173,747	10,167,674

Security	Number of Shares	Value ($)
Hess Corp.	400,411	25,674,353
HollyFrontier Corp.	244,100	11,650,893
Kinder Morgan, Inc.	3,051,878	60,640,816
Marathon Oil Corp.	1,278,325	21,782,658
Marathon Petroleum Corp.	1,050,153	63,922,813
National Oilwell Varco, Inc.	600,624	15,700,311
Noble Energy, Inc.	754,234	20,409,572
Occidental Petroleum Corp.	1,174,052	69,128,182
ONEOK, Inc.	644,477	43,779,323
Phillips 66	657,396	61,972,721
Pioneer Natural Resources Co.	262,954	43,771,323
Schlumberger Ltd.	2,163,583	92,341,722
TechnipFMC plc	666,241	16,382,866
The Williams Cos., Inc.	1,887,840	53,482,507
Valero Energy Corp.	651,383	59,054,383
		2,003,207,293

Food & Staples Retailing 1.4%
Costco Wholesale Corp.	688,928	169,152,492
Sysco Corp.	735,743	51,774,235
The Kroger Co.	1,244,877	32,092,929
Walgreens Boots Alliance, Inc.	1,250,315	66,979,375
Walmart, Inc.	2,225,530	228,873,505
		548,872,536

Food, Beverage & Tobacco 3.9%
Altria Group, Inc.	2,930,315	159,204,014
Archer-Daniels-Midland Co.	876,796	39,105,102
Brown-Forman Corp., Class B	257,630	13,729,103
Campbell Soup Co.	299,434	11,585,101
ConAgra Brands, Inc.	759,770	23,385,721
Constellation Brands, Inc., Class A	260,774	55,198,033
General Mills, Inc.	934,587	48,103,193
Hormel Foods Corp.	426,861	17,048,828
Kellogg Co.	392,190	23,649,057
Lamb Weston Holdings, Inc.	229,955	16,108,348
McCormick & Co., Inc. - Non Voting Shares	192,130	29,582,256
Molson Coors Brewing Co., Class B	294,199	18,884,634
Mondelez International, Inc., Class A	2,260,044	114,923,237
Monster Beverage Corp. *	611,616	36,452,314
PepsiCo, Inc.	2,195,501	281,133,903
Philip Morris International, Inc.	2,429,831	210,326,171
The Coca-Cola Co.	6,014,582	295,075,393
The Hershey Co.	217,382	27,140,143
The JM Smucker Co.	178,140	21,845,308
The Kraft Heinz Co.	973,069	32,344,813
Tyson Foods, Inc., Class A	460,137	34,514,876
		1,509,339,548

Health Care Equipment & Services 5.9%
Abbott Laboratories	2,746,714	218,528,566
ABIOMED, Inc. *	70,022	19,424,803
Align Technology, Inc. *	113,726	36,924,558
AmerisourceBergen Corp.	243,901	18,234,039
Anthem, Inc.	402,038	105,748,055
Baxter International, Inc.	744,366	56,795,126
Becton, Dickinson & Co.	420,078	101,129,578
Boston Scientific Corp. *	2,170,728	80,577,423
Cardinal Health, Inc.	465,761	22,687,218
Centene Corp. *	645,569	33,285,538
Cerner Corp. *	506,848	33,680,050
Cigna Corp. *	594,874	94,489,786
CVS Health Corp.	2,029,508	110,364,645
Danaher Corp.	982,765	130,157,397

₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
DaVita, Inc. *	199,413	11,015,574
DENTSPLY SIRONA, Inc.	347,034	17,743,849
Edwards Lifesciences Corp. *	325,324	57,279,797
HCA Healthcare, Inc.	415,835	52,906,687
Henry Schein, Inc. *	235,266	15,071,140
Hologic, Inc. *	419,355	19,449,685
Humana, Inc.	212,491	54,272,326
IDEXX Laboratories, Inc. *	134,292	31,155,744
Intuitive Surgical, Inc. *	179,219	91,514,598
Laboratory Corp. of America Holdings *	153,064	24,477,995
McKesson Corp.	300,199	35,798,731
Medtronic plc	2,097,556	186,283,948
Quest Diagnostics, Inc.	208,314	20,077,303
ResMed, Inc.	224,620	23,475,036
Stryker Corp.	482,664	91,180,056
Teleflex, Inc.	71,874	20,568,901
The Cooper Cos., Inc.	76,520	22,184,678
UnitedHealth Group, Inc.	1,500,357	349,688,206
Universal Health Services, Inc., Class B	130,414	16,545,624
Varian Medical Systems, Inc. *	142,171	19,359,425
WellCare Health Plans, Inc. *	78,276	20,222,605
Zimmer Biomet Holdings, Inc.	318,115	39,179,043
		2,281,477,733

Household & Personal Products 1.9%
Church & Dwight Co., Inc.	384,221	28,797,364
Colgate-Palmolive Co.	1,345,680	97,952,047
Coty, Inc., Class A (b)	697,648	7,548,551
Kimberly-Clark Corp.	539,168	69,218,388
The Clorox Co.	199,309	31,835,627
The Estee Lauder Cos., Inc., Class A	340,515	58,503,882
The Procter & Gamble Co.	3,910,382	416,377,475
		710,233,334

Insurance 2.4%
Aflac, Inc.	1,170,706	58,980,168
American International Group, Inc.	1,357,067	64,555,677
Aon plc	376,351	67,795,869
Arthur J. Gallagher & Co.	285,949	23,911,055
Assurant, Inc.	95,251	9,048,845
Chubb Ltd.	717,961	104,247,937
Cincinnati Financial Corp.	235,362	22,637,117
Everest Re Group Ltd.	62,846	14,800,233
Lincoln National Corp.	317,777	21,202,082
Loews Corp.	432,166	22,165,794
Marsh & McLennan Cos., Inc.	791,651	74,644,773
MetLife, Inc.	1,493,957	68,916,236
Principal Financial Group, Inc.	404,520	23,122,363
Prudential Financial, Inc.	639,174	67,567,084
The Allstate Corp.	520,407	51,551,517
The Hartford Financial Services Group, Inc.	559,203	29,251,909
The Progressive Corp.	915,098	71,514,909
The Travelers Cos., Inc.	410,526	59,013,113
Torchmark Corp.	157,794	13,832,222
Unum Group	337,415	12,457,362
Willis Towers Watson plc	202,366	37,304,149
		918,520,414

Materials 2.7%
Air Products & Chemicals, Inc.	343,789	70,748,338
Albemarle Corp.	163,453	12,268,782
Avery Dennison Corp.	130,526	14,442,702
Ball Corp.	524,531	31,440,388
Celanese Corp.	199,428	21,516,287

Security	Number of Shares	Value ($)
CF Industries Holdings, Inc.	351,018	15,718,586
Dow, Inc. *	1,172,355	66,507,699
DowDuPont, Inc.	3,528,133	135,656,714
Eastman Chemical Co.	219,489	17,313,292
Ecolab, Inc.	395,026	72,716,386
FMC Corp.	211,043	16,685,060
Freeport-McMoRan, Inc.	2,269,365	27,935,883
International Flavors & Fragrances, Inc.	157,727	21,733,204
International Paper Co.	622,771	29,151,911
Linde plc	861,631	155,317,604
LyondellBasell Industries N.V., Class A	476,018	41,999,068
Martin Marietta Materials, Inc.	97,727	21,685,621
Newmont Mining Corp.	1,276,936	39,661,632
Nucor Corp.	479,023	27,337,843
Packaging Corp. of America	148,727	14,747,769
PPG Industries, Inc.	367,946	43,233,655
Sealed Air Corp.	246,976	11,514,021
The Mosaic Co.	554,270	14,471,990
The Sherwin-Williams Co.	127,863	58,155,928
Vulcan Materials Co.	205,238	25,882,564
WestRock Co.	397,022	15,237,705
		1,023,080,632

Media & Entertainment 8.4%
Activision Blizzard, Inc.	1,191,194	57,427,463
Alphabet, Inc., Class A *	468,088	561,218,789
Alphabet, Inc., Class C *	480,360	570,898,253
CBS Corp., Class B - Non Voting Shares	544,923	27,938,202
Charter Communications, Inc., Class A *	271,593	100,812,606
Comcast Corp., Class A	7,060,172	307,329,287
Discovery, Inc., Class A *	245,778	7,594,540
Discovery, Inc., Class C *	560,065	16,107,469
DISH Network Corp., Class A *	362,653	12,736,373
Electronic Arts, Inc. *	467,937	44,290,237
Facebook, Inc., Class A *	3,729,248	721,236,563
Fox Corp., Class A *	546,854	21,321,838
Fox Corp., Class B *	253,053	9,742,541
Netflix, Inc. *	682,709	252,970,993
News Corp., Class A	592,632	7,360,490
News Corp., Class B	205,200	2,562,948
Omnicom Group, Inc.	349,542	27,973,846
Take-Two Interactive Software, Inc. *	176,645	17,104,535
The Interpublic Group of Cos., Inc.	605,365	13,923,395
The Walt Disney Co.	2,729,758	373,894,953
TripAdvisor, Inc. *	158,917	8,459,152
Twitter, Inc. *	1,138,874	45,452,461
Viacom, Inc., Class B	547,423	15,825,999
		3,224,182,933

Pharmaceuticals, Biotechnology & Life Sciences 7.7%
AbbVie, Inc.	2,306,422	183,106,843
Agilent Technologies, Inc.	494,360	38,807,260
Alexion Pharmaceuticals, Inc. *	349,982	47,643,050
Allergan plc	487,552	71,670,144
Amgen, Inc.	973,104	174,497,009
Biogen, Inc. *	307,385	70,464,937
Bristol-Myers Squibb Co.	2,556,060	118,677,866
Celgene Corp. *	1,098,625	103,995,843
Eli Lilly & Co.	1,350,562	158,069,777
Gilead Sciences, Inc.	1,995,948	129,816,458
Illumina, Inc. *	229,357	71,559,384
Incyte Corp. *	275,747	21,177,370
IQVIA Holdings, Inc. *	246,946	34,300,799
Johnson & Johnson	4,162,672	587,769,286
Merck & Co., Inc.	4,034,058	317,520,705
Mettler-Toledo International, Inc. *	38,947	29,025,641

₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Mylan N.V. *	805,993	21,753,751
Nektar Therapeutics *	276,872	8,865,441
PerkinElmer, Inc.	171,310	16,418,350
Perrigo Co., plc	199,112	9,541,447
Pfizer, Inc.	8,678,781	352,445,296
Regeneron Pharmaceuticals, Inc. *	122,581	42,062,444
Thermo Fisher Scientific, Inc.	629,668	174,701,387
Vertex Pharmaceuticals, Inc. *	398,706	67,373,340
Waters Corp. *	111,401	23,788,570
Zoetis, Inc.	749,406	76,319,507
		2,951,371,905

Real Estate 3.0%
Alexandria Real Estate Equities, Inc.	174,706	24,876,387
American Tower Corp.	689,617	134,682,200
Apartment Investment & Management Co., Class A	246,026	12,143,843
AvalonBay Communities, Inc.	216,978	43,597,390
Boston Properties, Inc.	242,350	33,352,207
CBRE Group, Inc., Class A *	489,684	25,497,846
Crown Castle International Corp.	648,692	81,592,480
Digital Realty Trust, Inc.	324,758	38,227,264
Duke Realty Corp.	561,673	17,479,264
Equinix, Inc.	129,989	59,105,998
Equity Residential	577,617	44,141,491
Essex Property Trust, Inc.	102,181	28,866,133
Extra Space Storage, Inc.	198,551	20,587,753
Federal Realty Investment Trust	116,170	15,549,355
HCP, Inc.	749,080	22,307,602
Host Hotels & Resorts, Inc.	1,155,683	22,235,341
Iron Mountain, Inc.	449,001	14,583,552
Kimco Realty Corp.	668,690	11,628,519
Mid-America Apartment Communities, Inc.	178,281	19,505,724
Prologis, Inc.	985,134	75,530,224
Public Storage	234,979	51,972,655
Realty Income Corp.	471,428	33,004,674
Regency Centers Corp.	263,495	17,698,959
SBA Communications Corp. *	175,472	35,748,911
Simon Property Group, Inc.	481,761	83,681,886
SL Green Realty Corp.	131,590	11,624,661
The Macerich Co.	167,679	6,730,635
UDR, Inc.	424,697	19,090,130
Ventas, Inc.	559,329	34,180,595
Vornado Realty Trust	273,268	18,893,750
Welltower, Inc.	604,920	45,084,688
Weyerhaeuser Co.	1,169,598	31,345,226
		1,134,547,343

Retailing 6.7%
Advance Auto Parts, Inc.	112,678	18,740,605
Amazon.com, Inc. *	645,033	1,242,668,975
AutoZone, Inc. *	38,911	40,012,570
Best Buy Co., Inc.	365,418	27,190,753
Booking Holdings, Inc. *	70,449	130,682,191
CarMax, Inc. *	264,228	20,572,792
Dollar General Corp.	411,851	51,930,293
Dollar Tree, Inc. *	372,934	41,500,096
eBay, Inc.	1,342,729	52,030,749
Expedia Group, Inc.	181,909	23,619,065
Foot Locker, Inc.	176,800	10,114,728
Genuine Parts Co.	227,094	23,286,219
Kohl's Corp.	260,064	18,490,550
L Brands, Inc.	352,628	9,041,382
LKQ Corp. *	496,629	14,948,533
Lowe's Cos., Inc.	1,253,169	141,783,541

Security	Number of Shares	Value ($)
Macy's, Inc.	474,659	11,173,473
Nordstrom, Inc.	167,165	6,857,108
O'Reilly Automotive, Inc. *	122,726	46,460,382
Ross Stores, Inc.	578,788	56,524,436
Target Corp.	813,650	62,992,783
The Gap, Inc.	332,179	8,663,228
The Home Depot, Inc.	1,766,404	359,816,495
The TJX Cos., Inc.	1,932,233	106,040,947
Tiffany & Co.	169,848	18,313,011
Tractor Supply Co.	190,933	19,761,565
Ulta Salon, Cosmetics & Fragrance, Inc. *	87,900	30,675,342
		2,593,891,812

Semiconductors & Semiconductor Equipment 4.0%
Advanced Micro Devices, Inc. *	1,371,991	37,908,111
Analog Devices, Inc.	576,696	67,035,143
Applied Materials, Inc.	1,481,591	65,293,715
Broadcom, Inc.	619,181	197,147,230
Intel Corp.	7,029,443	358,782,771
KLA-Tencor Corp.	258,683	32,976,909
Lam Research Corp.	238,414	49,454,216
Maxim Integrated Products, Inc.	429,853	25,791,180
Microchip Technology, Inc.	369,576	36,916,947
Micron Technology, Inc. *	1,748,437	73,539,260
NVIDIA Corp.	947,534	171,503,654
Qorvo, Inc. *	193,158	14,604,676
QUALCOMM, Inc.	1,892,962	163,040,817
Skyworks Solutions, Inc.	272,632	24,040,690
Texas Instruments, Inc.	1,466,820	172,835,401
Xilinx, Inc.	396,482	47,633,348
		1,538,504,068

Software & Services 11.8%
Accenture plc, Class A	997,421	182,198,894
Adobe, Inc. *	762,452	220,539,241
Akamai Technologies, Inc. *	255,369	20,444,842
Alliance Data Systems Corp.	71,700	11,479,170
ANSYS, Inc. *	132,086	25,862,439
Autodesk, Inc. *	341,707	60,895,604
Automatic Data Processing, Inc.	680,967	111,944,165
Broadridge Financial Solutions, Inc.	180,196	21,286,554
Cadence Design Systems, Inc. *	439,780	30,511,936
Citrix Systems, Inc.	196,646	19,853,380
Cognizant Technology Solutions Corp., Class A	897,417	65,475,544
DXC Technology Co.	420,559	27,647,549
Fidelity National Information Services, Inc.	504,522	58,489,235
Fiserv, Inc. *	612,870	53,466,779
FleetCor Technologies, Inc. *	133,473	34,829,779
Fortinet, Inc. *	228,532	21,349,459
Gartner, Inc. *	140,768	22,377,889
Global Payments, Inc.	246,366	35,986,682
International Business Machines Corp.	1,391,153	195,137,031
Intuit, Inc.	405,245	101,740,810
Jack Henry & Associates, Inc.	120,557	17,970,226
Mastercard, Inc., Class A	1,410,982	358,728,064
Microsoft Corp.	11,992,440	1,566,212,664
Oracle Corp.	3,982,164	220,333,134
Paychex, Inc.	501,180	42,254,486
PayPal Holdings, Inc. *	1,834,223	206,845,328
Red Hat, Inc. *	276,818	50,527,590
salesforce.com, Inc. *	1,196,061	197,768,686
Symantec Corp.	998,171	24,165,720
Synopsys, Inc. *	233,456	28,266,853

₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab S&P 500 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
The Western Union Co.	683,883	13,294,686
Total System Services, Inc.	252,871	25,853,531
VeriSign, Inc. *	163,704	32,323,355
Visa, Inc., Class A	2,735,659	449,824,409
		4,555,885,714

Technology Hardware & Equipment 5.8%
Amphenol Corp., Class A	466,244	46,419,253
Apple, Inc.	7,002,623	1,405,216,358
Arista Networks, Inc. *	81,900	25,576,551
Cisco Systems, Inc.	6,879,205	384,891,520
Corning, Inc.	1,232,953	39,269,553
F5 Networks, Inc. *	93,937	14,738,715
FLIR Systems, Inc.	210,279	11,132,170
Hewlett Packard Enterprise Co.	2,154,443	34,061,744
HP, Inc.	2,393,414	47,748,609
IPG Photonics Corp. *	55,795	9,749,060
Juniper Networks, Inc.	544,995	15,134,511
Keysight Technologies, Inc. *	292,204	25,430,514
Motorola Solutions, Inc.	256,699	37,198,251
NetApp, Inc.	385,463	28,080,980
Seagate Technology plc	402,022	19,425,703
TE Connectivity Ltd.	530,625	50,754,281
Western Digital Corp.	453,729	23,194,627
Xerox Corp.	309,133	10,312,677
		2,228,335,077

Telecommunication Services 1.9%
AT&T, Inc.	11,388,099	352,575,545
CenturyLink, Inc.	1,483,953	16,946,743
Verizon Communications, Inc.	6,458,401	369,355,953
		738,878,241

Transportation 2.1%
Alaska Air Group, Inc.	190,762	11,808,168
American Airlines Group, Inc.	620,847	21,220,550
C.H. Robinson Worldwide, Inc.	212,851	17,240,931
CSX Corp.	1,213,544	96,634,509
Delta Air Lines, Inc.	968,297	56,442,032
Expeditors International of Washington, Inc.	270,690	21,498,200
FedEx Corp.	375,241	71,093,160
JB Hunt Transport Services, Inc.	136,868	12,931,289
Kansas City Southern	156,595	19,283,108
Norfolk Southern Corp.	419,076	85,499,885
Southwest Airlines Co.	777,182	42,146,580
Union Pacific Corp.	1,129,897	200,036,965
United Continental Holdings, Inc. *	351,667	31,249,129
United Parcel Service, Inc., Class B	1,086,835	115,443,614
		802,528,120

Utilities 3.2%
AES Corp.	1,046,140	17,909,917
Alliant Energy Corp.	366,569	17,313,054
Ameren Corp.	381,169	27,737,668
American Electric Power Co., Inc.	769,500	65,830,725
American Water Works Co., Inc.	281,576	30,463,707
Atmos Energy Corp.	182,699	18,697,416
CenterPoint Energy, Inc.	782,138	24,246,278
CMS Energy Corp.	444,078	24,668,533
Consolidated Edison, Inc.	501,309	43,192,783
Dominion Energy, Inc.	1,249,917	97,331,037
DTE Energy Co.	284,526	35,767,763
Duke Energy Corp.	1,138,117	103,705,221

Security	Number of Shares	Value ($)
Edison International	510,521	32,555,924
Entergy Corp.	293,913	28,480,170
Evergy, Inc.	397,768	22,998,946
Eversource Energy	495,193	35,485,530
Exelon Corp.	1,519,772	77,432,383
FirstEnergy Corp.	791,086	33,249,345
NextEra Energy, Inc.	748,248	145,489,341
NiSource, Inc.	586,906	16,304,249
NRG Energy, Inc.	438,384	18,048,269
Pinnacle West Capital Corp.	172,624	16,445,888
PPL Corp.	1,127,010	35,173,982
Public Service Enterprise Group, Inc.	789,271	47,080,015
Sempra Energy	428,186	54,786,399
The Southern Co.	1,615,257	85,963,978
WEC Energy Group, Inc.	492,302	38,611,246
Xcel Energy, Inc.	805,904	45,533,576
		1,240,503,343
Total Common Stock
(Cost $19,402,366,081)		38,379,332,309

Other Investment Company 0.0% of net assets

Securities Lending Collateral 0.0%
Wells Fargo Government Money Market Fund, Select Class 2.36% (c)	7,417,454	7,417,454
Total Other Investment Company
(Cost $7,417,454)		7,417,454
Security Rate, Maturity Date	Face Amount ($)	Value ($)
Short-Term Investment 0.1% of net assets

Time Deposit 0.1%
BNP Paribas
1.80%, 05/01/19 (d)	42,275,468	42,275,468
Total Short-Term Investment
(Cost $42,275,468)		42,275,468

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
S&P 500 Index, e-mini, expires 06/21/19	695	102,460,375	1,308,493

*	Non-income producing security.
(a)	Issuer is affiliated with the fund’s investment adviser.
(b)	All or a portion of this security is on loan. Securities on loan were valued at $7,171,117.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the current daily overnight rate.

₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 0.7%
Aptiv plc	79,830	6,841,431
Autoliv, Inc.	26,600	2,087,834
BorgWarner, Inc.	63,892	2,668,769
Ford Motor Co.	1,205,655	12,599,095
General Motors Co.	404,602	15,759,248
Gentex Corp.	80,644	1,857,231
Harley-Davidson, Inc.	50,210	1,869,318
Lear Corp.	19,040	2,722,720
Tesla, Inc. *(a)	42,112	10,051,713
The Goodyear Tire & Rubber Co.	72,416	1,391,112
Thor Industries, Inc.	15,782	1,039,560
		58,888,031

Banks 5.7%
Associated Banc-Corp.	51,800	1,175,342
Bank of America Corp.	2,771,749	84,760,084
Bank OZK	38,527	1,257,907
BankUnited, Inc.	31,300	1,144,954
BB&T Corp.	236,439	12,105,677
BOK Financial Corp.	9,900	862,686
CIT Group, Inc.	30,458	1,622,498
Citigroup, Inc.	725,617	51,301,122
Citizens Financial Group, Inc.	141,260	5,113,612
Comerica, Inc.	48,822	3,836,921
Commerce Bancshares, Inc.	30,467	1,841,121
Cullen/Frost Bankers, Inc.	19,600	1,993,124
East West Bancorp, Inc.	44,100	2,270,268
Essent Group Ltd. *	30,500	1,447,225
F.N.B. Corp.	100,483	1,218,859
Fifth Third Bancorp	238,670	6,878,469
First Citizens BancShares, Inc., Class A	2,700	1,210,275
First Financial Bankshares, Inc.	20,712	1,274,202
First Hawaiian, Inc.	27,700	765,905
First Horizon National Corp.	99,933	1,507,989
First Republic Bank	50,980	5,384,508
Glacier Bancorp, Inc.	26,023	1,108,320
Hancock Whitney Corp.	26,750	1,170,045
Huntington Bancshares, Inc.	324,306	4,514,339
IBERIABANK Corp.	17,679	1,405,480
Investors Bancorp, Inc.	75,440	886,420
JPMorgan Chase & Co.	1,010,255	117,240,093
KeyCorp	311,478	5,466,439
LendingTree, Inc. *	2,300	885,086
M&T Bank Corp.	42,581	7,241,751
MGIC Investment Corp. *	111,600	1,633,824
New York Community Bancorp, Inc.	147,497	1,715,390
PacWest Bancorp	36,753	1,453,581
People's United Financial, Inc.	121,309	2,097,433
Pinnacle Financial Partners, Inc.	22,700	1,318,189
Popular, Inc.	30,388	1,753,691
Prosperity Bancshares, Inc.	20,032	1,475,156
Radian Group, Inc.	65,144	1,525,672
Regions Financial Corp.	312,942	4,859,989
Signature Bank	17,030	2,249,152
Sterling Bancorp	65,230	1,397,227

Security	Number of Shares	Value ($)
SunTrust Banks, Inc.	136,553	8,941,490
SVB Financial Group *	16,200	4,077,864
Synovus Financial Corp.	48,809	1,799,100
TCF Financial Corp.	51,200	1,133,056
TFS Financial Corp.	16,400	272,896
The PNC Financial Services Group, Inc.	139,952	19,163,627
U.S. Bancorp	463,546	24,716,273
UMB Financial Corp.	13,800	964,068
Umpqua Holdings Corp.	67,400	1,170,064
United Bankshares, Inc.	30,849	1,210,515
Valley National Bancorp	102,900	1,078,392
Webster Financial Corp.	28,300	1,503,579
Wells Fargo & Co.	1,263,346	61,158,580
Western Alliance Bancorp *	30,400	1,452,512
Wintrust Financial Corp.	17,428	1,328,014
Zions Bancorp NA	57,068	2,815,164
		483,155,219

Capital Goods 6.8%
3M Co.	177,604	33,657,734
A.O. Smith Corp.	44,100	2,318,337
Acuity Brands, Inc.	12,500	1,829,125
AECOM *	47,300	1,603,470
AGCO Corp.	19,765	1,398,967
Air Lease Corp.	31,200	1,203,072
Allegion plc	29,200	2,897,516
Allison Transmission Holdings, Inc.	36,300	1,701,018
AMETEK, Inc.	69,935	6,166,169
Arconic, Inc.	124,429	2,672,735
BWX Technologies, Inc.	30,500	1,558,550
Carlisle Cos., Inc.	17,486	2,472,870
Caterpillar, Inc.	177,521	24,749,978
Crane Co.	15,384	1,308,409
Cummins, Inc.	44,492	7,398,575
Curtiss-Wright Corp.	13,245	1,509,135
Deere & Co.	98,463	16,308,427
Donaldson Co., Inc.	38,900	2,082,706
Dover Corp.	45,037	4,415,427
Eaton Corp. plc	130,561	10,813,062
EMCOR Group, Inc.	17,500	1,472,450
Emerson Electric Co.	189,487	13,451,682
EnerSys	12,927	894,419
Fastenal Co.	88,800	6,264,840
Flowserve Corp.	39,496	1,936,489
Fluor Corp.	42,431	1,685,784
Fortive Corp.	91,310	7,883,705
Fortune Brands Home & Security, Inc.	42,900	2,264,262
Gardner Denver Holdings, Inc. *	39,200	1,323,000
Gates Industrial Corp. plc *	14,417	231,825
Generac Holdings, Inc. *	19,019	1,045,855
General Dynamics Corp.	83,563	14,934,379
General Electric Co.	2,686,368	27,320,363
Graco, Inc.	51,737	2,651,521
GrafTech International Ltd.	18,736	214,527
Harris Corp.	36,597	6,166,595
HD Supply Holdings, Inc. *	55,600	2,540,364
HEICO Corp.	12,581	1,327,673
HEICO Corp., Class A	22,025	1,969,696
Hexcel Corp.	26,300	1,859,673

₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Honeywell International, Inc.	224,714	39,017,092
Hubbell, Inc.	16,932	2,160,523
Huntington Ingalls Industries, Inc.	12,800	2,849,024
IDEX Corp.	23,631	3,702,032
Illinois Tool Works, Inc.	93,280	14,517,166
Ingersoll-Rand plc	74,511	9,135,794
ITT, Inc.	27,300	1,653,015
Jacobs Engineering Group, Inc.	36,356	2,833,587
Johnson Controls International plc	282,100	10,578,750
L3 Technologies, Inc.	24,554	5,367,013
Lennox International, Inc.	11,200	3,040,240
Lincoln Electric Holdings, Inc.	19,160	1,672,093
Lockheed Martin Corp.	75,763	25,254,081
Masco Corp.	90,606	3,539,070
MasTec, Inc. *	19,292	977,140
MSC Industrial Direct Co., Inc., Class A	14,258	1,192,682
Nordson Corp.	16,000	2,335,200
Northrop Grumman Corp.	52,362	15,180,267
nVent Electric plc	48,839	1,365,050
Oshkosh Corp.	22,100	1,825,239
Owens Corning	34,000	1,743,180
PACCAR, Inc.	107,289	7,689,403
Parker-Hannifin Corp.	39,752	7,198,292
Pentair plc	48,454	1,889,221
Proto Labs, Inc. *	8,301	911,367
Quanta Services, Inc.	43,558	1,768,455
Raytheon Co.	86,979	15,446,601
RBC Bearings, Inc. *	7,598	1,045,105
Rockwell Automation, Inc.	37,049	6,695,125
Roper Technologies, Inc.	31,941	11,489,178
Sensata Technologies Holding plc *	50,400	2,516,976
Snap-on, Inc.	17,250	2,902,830
Spirit AeroSystems Holdings, Inc., Class A	32,300	2,806,870
Stanley Black & Decker, Inc.	46,770	6,856,482
Teledyne Technologies, Inc. *	11,000	2,733,610
Textron, Inc.	72,366	3,835,398
The Boeing Co.	162,141	61,239,034
The Middleby Corp. *	17,519	2,314,785
The Timken Co.	21,044	1,009,060
The Toro Co.	32,980	2,412,487
TransDigm Group, Inc. *	15,090	7,281,227
Trex Co., Inc. *	18,067	1,251,501
United Rentals, Inc. *	24,317	3,426,752
United Technologies Corp.	250,083	35,664,337
W.W. Grainger, Inc.	13,771	3,883,422
WABCO Holdings, Inc. *	15,900	2,105,796
Wabtec Corp.	43,105	3,192,787
Watsco, Inc.	9,926	1,572,973
Woodward, Inc.	17,300	1,883,970
Xylem, Inc.	55,766	4,650,884
		583,116,550

Commercial & Professional Services 0.9%
ADT, Inc.	37,530	247,323
Cintas Corp.	26,070	5,660,840
Copart, Inc. *	61,295	4,126,379
CoStar Group, Inc. *	11,270	5,592,737
Equifax, Inc.	37,449	4,716,702
IHS Markit Ltd. *	111,666	6,393,995
Insperity, Inc.	11,683	1,396,819
KAR Auction Services, Inc.	41,500	2,343,920
ManpowerGroup, Inc.	18,691	1,795,084
MSA Safety, Inc.	10,781	1,184,940
Nielsen Holdings plc	110,660	2,825,150
Republic Services, Inc.	66,286	5,489,807
Robert Half International, Inc.	36,803	2,285,098
Rollins, Inc.	45,851	1,773,058

Security	Number of Shares	Value ($)
Stericycle, Inc. *	26,398	1,541,379
The Brink's Co.	15,600	1,246,908
TransUnion	57,442	4,000,835
Verisk Analytics, Inc.	50,600	7,141,684
Waste Management, Inc.	120,328	12,916,008
		72,678,666

Consumer Durables & Apparel 1.2%
Brunswick Corp.	26,300	1,346,823
Capri Holdings Ltd. *	47,277	2,083,970
Carter's, Inc.	14,300	1,514,513
Columbia Sportswear Co.	8,900	889,733
D.R. Horton, Inc.	105,597	4,679,003
Deckers Outdoor Corp. *	8,960	1,417,562
Garmin Ltd.	37,704	3,232,741
Hanesbrands, Inc.	113,150	2,044,620
Hasbro, Inc.	36,244	3,691,814
Leggett & Platt, Inc.	39,744	1,564,324
Lennar Corp., Class A	88,100	4,583,843
lululemon Athletica, Inc. *	32,400	5,713,740
Mattel, Inc. *	108,287	1,320,019
Mohawk Industries, Inc. *	18,839	2,566,814
Newell Brands, Inc.	120,093	1,726,937
NIKE, Inc., Class B	388,659	34,135,920
NVR, Inc. *	1,063	3,351,086
Polaris Industries, Inc.	17,500	1,687,000
PulteGroup, Inc.	78,376	2,465,709
PVH Corp.	23,037	2,971,543
Ralph Lauren Corp.	16,145	2,124,359
Skechers U.S.A., Inc., Class A *	40,162	1,271,529
Tapestry, Inc.	89,430	2,885,906
Toll Brothers, Inc.	41,800	1,592,580
Under Armour, Inc., Class A *	57,000	1,316,130
Under Armour, Inc., Class C *	59,000	1,222,480
VF Corp.	100,468	9,485,184
Whirlpool Corp.	19,343	2,685,195
		105,571,077

Consumer Services 2.2%
Aramark	76,496	2,377,496
Bright Horizons Family Solutions, Inc. *	17,800	2,281,070
Caesars Entertainment Corp. *	177,100	1,657,656
Carnival Corp.	124,210	6,814,161
Chegg, Inc. *	31,678	1,129,321
Chipotle Mexican Grill, Inc. *	7,561	5,202,270
Choice Hotels International, Inc.	10,700	888,528
Churchill Downs, Inc.	10,800	1,089,180
Cracker Barrel Old Country Store, Inc.	7,500	1,265,550
Darden Restaurants, Inc.	37,768	4,441,517
Domino's Pizza, Inc.	12,667	3,427,437
Dunkin' Brands Group, Inc.	26,020	1,941,873
Eldorado Resorts, Inc. *	19,920	983,450
Grand Canyon Education, Inc. *	15,100	1,749,939
H&R Block, Inc.	62,428	1,698,666
Hilton Worldwide Holdings, Inc.	90,140	7,841,278
Las Vegas Sands Corp.	114,325	7,665,491
Marriott International, Inc., Class A	87,134	11,886,820
Marriott Vacations Worldwide Corp.	12,060	1,273,898
McDonald's Corp.	236,030	46,632,447
MGM Resorts International	157,347	4,190,151
Norwegian Cruise Line Holdings Ltd. *	67,600	3,811,964
Planet Fitness, Inc., Class A *	25,803	1,953,287
Royal Caribbean Cruises Ltd.	53,071	6,418,407
Service Corp. International	55,600	2,313,516
ServiceMaster Global Holdings, Inc. *	41,700	2,044,551
Six Flags Entertainment Corp.	21,900	1,162,671

₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Starbucks Corp.	383,546	29,793,853
Texas Roadhouse, Inc.	20,900	1,128,809
The Wendy's Co.	56,900	1,058,909
Vail Resorts, Inc.	12,400	2,837,740
Wyndham Destinations, Inc.	29,465	1,283,495
Wyndham Hotels & Resorts, Inc.	29,865	1,664,078
Wynn Resorts Ltd.	29,745	4,296,665
Yum! Brands, Inc.	94,277	9,841,576
		186,047,720

Diversified Financials 5.2%
Affiliated Managers Group, Inc.	16,259	1,803,448
AGNC Investment Corp.	165,958	2,952,393
Ally Financial, Inc.	125,210	3,719,989
American Express Co.	213,478	25,026,026
Ameriprise Financial, Inc.	41,938	6,155,240
Annaly Capital Management, Inc.	434,328	4,382,369
AXA Equitable Holdings, Inc.	77,274	1,753,347
Berkshire Hathaway, Inc., Class B *	600,015	130,029,251
BlackRock, Inc.	37,592	18,241,142
Blackstone Mortgage Trust, Inc., Class A	37,319	1,328,183
Capital One Financial Corp.	144,373	13,402,146
Cboe Global Markets, Inc.	34,290	3,484,207
Chimera Investment Corp.	57,904	1,110,020
CME Group, Inc.	110,432	19,756,285
Credit Acceptance Corp. *	3,800	1,885,636
Discover Financial Services	101,504	8,271,561
E*TRADE Financial Corp.	76,200	3,860,292
Eaton Vance Corp.	36,184	1,504,169
Evercore, Inc., Class A	12,700	1,237,361
FactSet Research Systems, Inc.	11,600	3,200,092
FirstCash, Inc.	13,489	1,317,606
Franklin Resources, Inc.	90,260	3,122,093
Green Dot Corp., Class A *	14,545	927,535
Interactive Brokers Group, Inc., Class A	23,100	1,252,944
Intercontinental Exchange, Inc.	175,521	14,278,633
Invesco Ltd.	122,207	2,684,888
Janus Henderson Group plc	49,800	1,248,486
Jefferies Financial Group, Inc.	81,368	1,673,740
Lazard Ltd., Class A	39,699	1,543,497
LPL Financial Holdings, Inc.	26,600	1,970,794
MarketAxess Holdings, Inc.	11,500	3,200,795
Moody's Corp.	51,405	10,107,251
Morgan Stanley	400,221	19,310,663
Morningstar, Inc.	5,400	774,630
MSCI, Inc.	26,090	5,880,164
Nasdaq, Inc.	36,087	3,327,221
New Residential Investment Corp.	125,365	2,107,386
Northern Trust Corp.	67,086	6,611,325
OneMain Holdings, Inc.	22,221	754,847
Raymond James Financial, Inc.	39,649	3,630,659
S&P Global, Inc.	76,728	16,930,800
Santander Consumer USA Holdings, Inc.	33,617	717,723
SEI Investments Co.	39,748	2,164,279
SLM Corp.	136,261	1,384,412
Starwood Property Trust, Inc.	84,100	1,938,505
State Street Corp.	116,350	7,872,241
Stifel Financial Corp.	22,382	1,335,534
Synchrony Financial	200,530	6,952,375
T. Rowe Price Group, Inc.	73,030	7,850,725
TD Ameritrade Holding Corp.	82,931	4,360,512
The Bank of New York Mellon Corp.	271,230	13,469,282
The Charles Schwab Corp. (b)	364,332	16,679,119
The Goldman Sachs Group, Inc.	105,562	21,737,327

Security	Number of Shares	Value ($)
Two Harbors Investment Corp.	82,857	1,148,398
Voya Financial, Inc.	47,230	2,592,455
		445,962,001

Energy 4.9%
Anadarko Petroleum Corp.	155,048	11,295,247
Antero Resources Corp. *	66,200	479,950
Apache Corp.	116,200	3,824,142
Baker Hughes, a GE Co.	159,511	3,831,454
Cabot Oil & Gas Corp.	129,476	3,352,134
Centennial Resource Development, Inc., Class A *	59,100	622,323
Cheniere Energy, Inc. *	67,900	4,369,365
Chevron Corp.	586,253	70,385,535
Cimarex Energy Co.	31,816	2,184,487
Concho Resources, Inc.	61,972	7,150,329
ConocoPhillips	350,071	22,096,481
Continental Resources, Inc. *	25,800	1,186,542
CVR Energy, Inc.	8,925	407,069
Devon Energy Corp.	134,206	4,313,381
Diamondback Energy, Inc.	47,462	5,049,482
EOG Resources, Inc.	179,026	17,195,447
EQT Corp.	77,919	1,593,444
Equitrans Midstream Corp. *	61,955	1,290,523
Exxon Mobil Corp.	1,307,315	104,951,248
Halliburton Co.	270,236	7,655,786
Helmerich & Payne, Inc.	33,892	1,983,360
Hess Corp.	78,643	5,042,589
HollyFrontier Corp.	48,700	2,324,451
Kinder Morgan, Inc.	600,607	11,934,061
Marathon Oil Corp.	254,896	4,343,428
Marathon Petroleum Corp.	207,865	12,652,743
Murphy Oil Corp.	49,944	1,360,475
National Oilwell Varco, Inc.	117,826	3,079,972
Noble Energy, Inc.	147,622	3,994,651
Occidental Petroleum Corp.	231,074	13,605,637
ONEOK, Inc.	127,355	8,651,225
Parsley Energy, Inc., Class A *	83,700	1,670,652
PBF Energy, Inc., Class A	37,600	1,262,608
Peabody Energy Corp.	23,000	661,710
Phillips 66	129,834	12,239,451
Pioneer Natural Resources Co.	52,211	8,691,043
Schlumberger Ltd.	427,170	18,231,616
Targa Resources Corp.	70,000	2,810,500
TechnipFMC plc	131,368	3,230,339
The Williams Cos., Inc.	373,601	10,584,116
Transocean Ltd. *	155,600	1,223,016
Valero Energy Corp.	128,726	11,670,299
WPX Energy, Inc. *	119,087	1,654,118
		416,136,429

Food & Staples Retailing 1.3%
BJ's Wholesale Club Holdings, Inc. *	28,820	817,047
Casey's General Stores, Inc.	11,200	1,482,320
Costco Wholesale Corp.	135,941	33,377,594
Performance Food Group Co. *	32,351	1,324,773
Sysco Corp.	145,420	10,233,205
The Kroger Co.	246,842	6,363,587
U.S. Foods Holding Corp. *	67,490	2,466,760
Walgreens Boots Alliance, Inc.	247,507	13,258,950
Walmart, Inc.	439,297	45,177,303
		114,501,539

₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Food, Beverage & Tobacco 3.6%
Altria Group, Inc.	578,367	31,422,679
Archer-Daniels-Midland Co.	173,705	7,747,243
Brown-Forman Corp., Class B	50,650	2,699,139
Bunge Ltd.	43,292	2,268,934
Campbell Soup Co.	58,858	2,277,216
ConAgra Brands, Inc.	148,549	4,572,338
Constellation Brands, Inc., Class A	51,512	10,903,545
Darling Ingredients, Inc. *	50,657	1,104,829
Flowers Foods, Inc.	56,925	1,237,550
General Mills, Inc.	184,294	9,485,612
Hormel Foods Corp.	83,988	3,354,481
Ingredion, Inc.	20,368	1,929,868
Kellogg Co.	77,163	4,652,929
Keurig Dr Pepper, Inc.	55,420	1,611,059
Lamb Weston Holdings, Inc.	45,639	3,197,012
Lancaster Colony Corp.	5,986	890,178
McCormick & Co., Inc. - Non Voting Shares	37,864	5,829,920
Molson Coors Brewing Co., Class B	58,412	3,749,466
Mondelez International, Inc., Class A	446,269	22,692,779
Monster Beverage Corp. *	120,390	7,175,244
National Beverage Corp.	4,100	229,600
PepsiCo, Inc.	433,344	55,489,699
Philip Morris International, Inc.	479,663	41,519,629
Pilgrim's Pride Corp. *	15,000	403,650
Post Holdings, Inc. *	20,500	2,311,990
Seaboard Corp.	90	404,602
The Coca-Cola Co.	1,187,049	58,236,624
The Hershey Co.	42,665	5,326,725
The JM Smucker Co.	34,901	4,279,910
The Kraft Heinz Co.	192,980	6,414,655
TreeHouse Foods, Inc. *	17,211	1,152,793
Tyson Foods, Inc., Class A	90,559	6,792,831
		311,364,729

Health Care Equipment & Services 5.8%
Abbott Laboratories	542,024	43,123,429
ABIOMED, Inc. *	13,800	3,828,258
Align Technology, Inc. *	22,328	7,249,455
Amedisys, Inc. *	8,893	1,136,703
AmerisourceBergen Corp.	48,120	3,597,451
Anthem, Inc.	79,234	20,840,919
Baxter International, Inc.	147,065	11,221,060
Becton, Dickinson & Co.	83,025	19,987,439
Boston Scientific Corp. *	427,834	15,881,198
Cantel Medical Corp.	10,800	744,552
Cardinal Health, Inc.	91,510	4,457,452
Centene Corp. *	127,404	6,568,950
Cerner Corp. *	100,561	6,682,278
Chemed Corp.	5,000	1,633,900
Cigna Corp. *	117,237	18,621,925
Covetrus, Inc. *	29,277	962,335
CVS Health Corp.	400,158	21,760,592
Danaher Corp.	193,876	25,676,937
DaVita, Inc. *	39,626	2,188,940
DENTSPLY SIRONA, Inc.	69,140	3,535,128
DexCom, Inc. *	27,808	3,366,715
Edwards Lifesciences Corp. *	64,382	11,335,739
Encompass Health Corp.	30,562	1,969,721
Globus Medical, Inc., Class A *	23,443	1,057,045
Haemonetics Corp. *	15,871	1,385,221
HCA Healthcare, Inc.	82,358	10,478,408
HealthEquity, Inc. *	16,667	1,129,189
Henry Schein, Inc. *	46,438	2,974,818
Hill-Rom Holdings, Inc.	20,273	2,056,088

Security	Number of Shares	Value ($)
Hologic, Inc. *	82,070	3,806,407
Humana, Inc.	41,795	10,674,861
ICU Medical, Inc. *	5,100	1,160,250
IDEXX Laboratories, Inc. *	26,472	6,141,504
Insulet Corp. *	18,700	1,612,875
Integra LifeSciences Holdings Corp. *	21,700	1,132,523
Intuitive Surgical, Inc. *	35,342	18,046,686
Laboratory Corp. of America Holdings *	30,348	4,853,252
LHC Group, Inc. *	8,981	997,879
LivaNova plc *	15,000	1,033,350
Masimo Corp. *	14,798	1,925,960
McKesson Corp.	59,577	7,104,557
Medidata Solutions, Inc. *	19,600	1,770,664
MEDNAX, Inc. *	26,490	740,925
Medtronic plc	413,806	36,750,111
Molina Healthcare, Inc. *	19,600	2,540,748
Penumbra, Inc. *	9,529	1,281,651
Quest Diagnostics, Inc.	41,847	4,033,214
ResMed, Inc.	44,506	4,651,322
Steris plc *	26,100	3,418,578
Stryker Corp.	95,254	17,994,433
Teladoc Health, Inc. *	21,534	1,224,854
Teleflex, Inc.	14,096	4,033,993
The Cooper Cos., Inc.	15,100	4,377,792
UnitedHealth Group, Inc.	296,027	68,995,013
Universal Health Services, Inc., Class B	25,554	3,242,036
Varian Medical Systems, Inc. *	28,297	3,853,203
Veeva Systems, Inc., Class A *	38,650	5,405,976
WellCare Health Plans, Inc. *	15,601	4,030,518
West Pharmaceutical Services, Inc.	23,280	2,881,831
Wright Medical Group N.V. *	35,809	1,058,872
Zimmer Biomet Holdings, Inc.	63,262	7,791,348
		494,019,031

Household & Personal Products 1.7%
Church & Dwight Co., Inc.	75,588	5,665,321
Colgate-Palmolive Co.	266,398	19,391,110
Coty, Inc., Class A (a)	142,141	1,537,966
Herbalife Nutrition Ltd. *	31,700	1,675,345
Kimberly-Clark Corp.	106,208	13,634,983
Nu Skin Enterprises, Inc., Class A	17,200	874,964
The Clorox Co.	39,477	6,305,661
The Estee Lauder Cos., Inc., Class A	67,570	11,609,202
The Procter & Gamble Co.	771,698	82,170,403
		142,864,955

Insurance 2.7%
Aflac, Inc.	230,812	11,628,309
Alleghany Corp. *	4,456	2,927,057
American Financial Group, Inc.	21,805	2,257,472
American International Group, Inc.	268,413	12,768,406
American National Insurance Co.	2,711	307,129
Aon plc	73,929	13,317,570
Arch Capital Group Ltd. *	124,200	4,195,476
Arthur J. Gallagher & Co.	57,240	4,786,409
Assurant, Inc.	19,035	1,808,325
Assured Guaranty Ltd.	32,300	1,540,710
Athene Holding Ltd., Class A *	38,400	1,734,144
Axis Capital Holdings Ltd.	25,662	1,458,885
Brighthouse Financial, Inc. *	36,676	1,532,690
Brown & Brown, Inc.	71,352	2,265,426
Chubb Ltd.	141,656	20,568,451
Cincinnati Financial Corp.	46,617	4,483,623
CNA Financial Corp.	7,797	361,235
Erie Indemnity Co., Class A	6,285	1,189,876
Everest Re Group Ltd.	12,420	2,924,910

₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Fidelity National Financial, Inc.	84,969	3,394,512
First American Financial Corp.	33,794	1,928,286
Kemper Corp.	18,653	1,676,532
Lincoln National Corp.	63,120	4,211,366
Loews Corp.	84,158	4,316,464
Markel Corp. *	4,247	4,550,703
Marsh & McLennan Cos., Inc.	155,900	14,699,811
MetLife, Inc.	295,493	13,631,092
Old Republic International Corp.	88,409	1,976,825
Primerica, Inc.	12,900	1,680,741
Principal Financial Group, Inc.	79,640	4,552,222
Prudential Financial, Inc.	126,163	13,336,691
Reinsurance Group of America, Inc.	19,636	2,975,050
RenaissanceRe Holdings Ltd.	13,037	2,025,428
Selective Insurance Group, Inc.	18,104	1,290,996
The Allstate Corp.	102,388	10,142,555
The Hanover Insurance Group, Inc.	12,552	1,513,897
The Hartford Financial Services Group, Inc.	111,257	5,819,854
The Progressive Corp.	180,285	14,089,273
The Travelers Cos., Inc.	81,338	11,692,338
Torchmark Corp.	31,597	2,769,793
Unum Group	67,046	2,475,338
W. R. Berkley Corp.	45,117	2,765,672
Willis Towers Watson plc	39,688	7,316,086
		226,887,628

Materials 2.8%
Air Products & Chemicals, Inc.	67,767	13,945,771
Albemarle Corp.	32,603	2,447,181
Alcoa Corp. *	57,980	1,546,906
AptarGroup, Inc.	19,790	2,201,440
Ashland Global Holdings, Inc.	19,100	1,538,123
Avery Dennison Corp.	25,830	2,858,090
Axalta Coating Systems Ltd. *	64,356	1,736,325
Ball Corp.	102,902	6,167,946
Bemis Co., Inc.	28,149	1,616,316
Berry Global Group, Inc. *	40,400	2,375,520
Celanese Corp.	39,553	4,267,373
CF Industries Holdings, Inc.	68,590	3,071,460
Crown Holdings, Inc. *	41,075	2,387,690
Dow, Inc. *	231,951	13,158,580
DowDuPont, Inc.	695,853	26,755,548
Eastman Chemical Co.	43,062	3,396,731
Ecolab, Inc.	78,167	14,388,981
Element Solutions, Inc. *	72,012	782,050
FMC Corp.	42,134	3,331,114
Freeport-McMoRan, Inc.	448,537	5,521,490
Graphic Packaging Holding Co.	93,400	1,296,392
Huntsman Corp.	65,004	1,445,689
Ingevity Corp. *	12,877	1,480,984
International Flavors & Fragrances, Inc.	31,208	4,300,150
International Paper Co.	122,867	5,751,404
Linde plc	170,055	30,654,114
Livent Corp. *	45,294	488,269
Louisiana-Pacific Corp.	41,200	1,032,060
LyondellBasell Industries N.V., Class A	93,913	8,285,944
Martin Marietta Materials, Inc.	19,124	4,243,616
NewMarket Corp.	2,620	1,099,300
Newmont Mining Corp.	252,074	7,829,418
Nucor Corp.	93,736	5,349,514
Olin Corp.	49,909	1,082,526
Packaging Corp. of America	29,030	2,878,615
PPG Industries, Inc.	72,589	8,529,208
Reliance Steel & Aluminum Co.	20,342	1,870,650
Royal Gold, Inc.	20,400	1,776,024
RPM International, Inc.	40,200	2,438,130

Security	Number of Shares	Value ($)
Sealed Air Corp.	47,802	2,228,529
Sonoco Products Co.	30,870	1,946,662
Steel Dynamics, Inc.	71,200	2,255,616
The Chemours Co.	52,500	1,890,525
The Mosaic Co.	108,966	2,845,102
The Scotts Miracle-Gro Co.	12,068	1,026,021
The Sherwin-Williams Co.	25,265	11,491,280
United States Steel Corp.	54,100	843,960
Valvoline, Inc.	56,839	1,051,522
Vulcan Materials Co.	40,924	5,160,926
W.R. Grace & Co.	20,300	1,534,274
Westlake Chemical Corp.	10,700	746,325
WestRock Co.	79,652	3,057,044
		241,404,428

Media & Entertainment 8.0%
Activision Blizzard, Inc.	235,768	11,366,375
Alphabet, Inc., Class A *	92,381	110,761,124
Alphabet, Inc., Class C *	94,845	112,721,386
Altice USA, Inc., Class A	35,800	843,448
Cable One, Inc.	1,550	1,643,822
Cargurus, Inc. *	10,163	414,041
CBS Corp., Class B - Non Voting Shares	107,298	5,501,168
Charter Communications, Inc., Class A *	53,554	19,878,709
Cinemark Holdings, Inc.	32,800	1,379,240
Comcast Corp., Class A	1,393,728	60,668,980
Discovery, Inc., Class A *	48,200	1,489,380
Discovery, Inc., Class C *	110,604	3,180,971
DISH Network Corp., Class A *	70,572	2,478,489
Electronic Arts, Inc. *	92,731	8,776,989
Facebook, Inc., Class A *	736,126	142,366,768
Fox Corp., Class A *	109,012	4,250,378
Fox Corp., Class B *	49,857	1,919,494
GCI Liberty, Inc., Class A *	31,112	1,854,897
IAC/InterActiveCorp *	24,110	5,420,892
Liberty Broadband Corp., Class C *	47,000	4,639,370
Liberty Global plc, Class A *	64,356	1,738,256
Liberty Global plc, Class C *	183,672	4,803,023
Liberty Media Corp. - Liberty Formula One, Class C *	61,800	2,398,458
Liberty Media Corp. - Liberty SiriusXM, Class A *	25,546	1,020,307
Liberty Media Corp. - Liberty SiriusXM, Class C *	48,900	1,963,824
Live Nation Entertainment, Inc. *	42,800	2,796,552
Netflix, Inc. *	134,738	49,925,819
News Corp., Class A	118,782	1,475,272
Nexstar Media Group, Inc., Class A	14,370	1,682,008
Omnicom Group, Inc.	68,688	5,497,101
Sirius XM Holdings, Inc.	519,126	3,016,122
Snap, Inc., Class A *	227,119	2,530,106
Take-Two Interactive Software, Inc. *	34,900	3,379,367
The Interpublic Group of Cos., Inc.	118,364	2,722,372
The Madison Square Garden Co., Class A *	5,291	1,653,120
The New York Times Co., Class A	43,368	1,437,649
The Walt Disney Co.	538,897	73,812,722
Tribune Media Co., Class A	25,730	1,188,726
TripAdvisor, Inc. *	31,300	1,666,099
Twitter, Inc. *	224,870	8,974,562
Viacom, Inc., Class B	109,146	3,155,411
World Wrestling Entertainment, Inc., Class A	13,259	1,111,767

₁₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Zillow Group, Inc., Class C *	35,100	1,172,340
Zynga, Inc., Class A *	256,013	1,449,034
		682,125,938

Pharmaceuticals, Biotechnology & Life Sciences 7.4%
AbbVie, Inc.	455,199	36,138,249
Agilent Technologies, Inc.	97,931	7,687,584
Agios Pharmaceuticals, Inc. *	15,621	873,526
Alexion Pharmaceuticals, Inc. *	69,017	9,395,284
Alkermes plc *	47,300	1,434,136
Allergan plc	96,392	14,169,624
Alnylam Pharmaceuticals, Inc. *	29,020	2,592,647
Amgen, Inc.	192,031	34,434,999
Array BioPharma, Inc. *	69,165	1,563,821
Bio-Rad Laboratories, Inc., Class A *	6,100	1,835,673
Bio-Techne Corp.	11,883	2,431,143
Biogen, Inc. *	60,709	13,916,931
BioMarin Pharmaceutical, Inc. *	55,280	4,728,098
Bluebird Bio, Inc. *	17,204	2,440,043
Bristol-Myers Squibb Co.	503,702	23,386,884
Bruker Corp.	30,900	1,192,740
Catalent, Inc. *	45,780	2,051,860
Celgene Corp. *	216,751	20,517,650
Charles River Laboratories International, Inc. *	15,075	2,117,585
Eli Lilly & Co.	266,566	31,198,885
Emergent BioSolutions, Inc. *	13,825	714,476
Exact Sciences Corp. *	38,860	3,835,093
Exelixis, Inc. *	91,800	1,804,788
FibroGen, Inc. *	22,900	1,070,117
Gilead Sciences, Inc.	393,630	25,601,695
Horizon Pharma plc *	56,132	1,433,050
Illumina, Inc. *	45,370	14,155,440
Immunomedics, Inc. *	52,566	842,107
Incyte Corp. *	54,400	4,177,920
Intercept Pharmaceuticals, Inc. *	6,745	581,284
Ionis Pharmaceuticals, Inc. *	42,000	3,121,860
IQVIA Holdings, Inc. *	48,646	6,756,929
Jazz Pharmaceuticals plc *	17,610	2,285,250
Johnson & Johnson	821,870	116,048,044
Merck & Co., Inc.	796,409	62,685,352
Mettler-Toledo International, Inc. *	7,653	5,703,475
Mylan N.V. *	158,300	4,272,517
Nektar Therapeutics *	53,300	1,706,666
Neurocrine Biosciences, Inc. *	27,589	1,993,029
PerkinElmer, Inc.	34,580	3,314,147
Perrigo Co., plc	39,356	1,885,940
Pfizer, Inc.	1,712,805	69,557,011
PRA Health Sciences, Inc. *	18,580	1,798,916
Regeneron Pharmaceuticals, Inc. *	24,194	8,301,929
Sage Therapeutics, Inc. *	15,522	2,611,266
Sarepta Therapeutics, Inc. *	20,392	2,384,641
Seattle Genetics, Inc. *	33,636	2,279,848
Syneos Health, Inc. *	18,700	877,591
Thermo Fisher Scientific, Inc.	124,309	34,489,532
United Therapeutics Corp. *	13,500	1,384,695
Vertex Pharmaceuticals, Inc. *	78,932	13,337,929
Waters Corp. *	22,300	4,761,942
Zoetis, Inc.	147,633	15,034,945
		634,916,786

Real Estate 3.7%
Alexandria Real Estate Equities, Inc.	34,840	4,960,868
American Campus Communities, Inc.	42,300	1,996,560
American Homes 4 Rent, Class A	81,200	1,947,176
American Tower Corp.	136,127	26,585,603

Security	Number of Shares	Value ($)
Americold Realty Trust	56,959	1,823,258
Apartment Investment & Management Co., Class A	48,249	2,381,571
Apple Hospitality REIT, Inc.	64,300	1,057,735
AvalonBay Communities, Inc.	42,769	8,593,575
Boston Properties, Inc.	47,905	6,592,686
Brixmor Property Group, Inc.	91,600	1,637,808
Camden Property Trust	29,894	3,008,831
CBRE Group, Inc., Class A *	97,011	5,051,363
CoreSite Realty Corp.	11,000	1,203,510
Cousins Properties, Inc.	133,558	1,278,150
Crown Castle International Corp.	128,241	16,130,153
CubeSmart	57,200	1,825,252
CyrusOne, Inc.	33,890	1,887,334
Digital Realty Trust, Inc.	64,177	7,554,275
Douglas Emmett, Inc.	49,600	2,043,024
Duke Realty Corp.	110,237	3,430,575
EastGroup Properties, Inc.	11,139	1,273,522
EPR Properties	23,100	1,821,666
Equinix, Inc.	25,714	11,692,156
Equity Commonwealth	37,400	1,189,320
Equity LifeStyle Properties, Inc.	27,600	3,220,920
Equity Residential	114,212	8,728,081
Essex Property Trust, Inc.	20,229	5,714,693
Extra Space Storage, Inc.	38,900	4,033,541
Federal Realty Investment Trust	23,022	3,081,495
First Industrial Realty Trust, Inc.	40,231	1,418,947
Gaming & Leisure Properties, Inc.	61,700	2,491,446
HCP, Inc.	147,080	4,380,042
Healthcare Realty Trust, Inc.	40,140	1,239,523
Healthcare Trust of America, Inc., Class A	62,279	1,717,655
Highwoods Properties, Inc.	31,600	1,408,728
Hospitality Properties Trust	52,221	1,357,746
Host Hotels & Resorts, Inc.	226,239	4,352,838
Hudson Pacific Properties, Inc.	47,074	1,641,000
Invitation Homes, Inc.	104,412	2,595,682
Iron Mountain, Inc.	89,356	2,902,283
JBG SMITH Properties	36,814	1,566,436
Jones Lang LaSalle, Inc.	14,100	2,179,437
Kilroy Realty Corp.	31,780	2,444,200
Kimco Realty Corp.	131,131	2,280,368
Lamar Advertising Co., Class A	26,170	2,163,474
Liberty Property Trust	46,354	2,301,013
Life Storage, Inc.	14,200	1,353,118
Medical Properties Trust, Inc.	118,040	2,060,978
Mid-America Apartment Communities, Inc.	34,970	3,826,068
National Health Investors, Inc.	13,072	986,021
National Retail Properties, Inc.	50,111	2,636,841
Omega Healthcare Investors, Inc.	63,530	2,248,327
Paramount Group, Inc.	60,657	878,920
Park Hotels & Resorts, Inc.	61,318	1,967,081
Pebblebrook Hotel Trust	39,408	1,283,124
Prologis, Inc.	194,612	14,920,902
PS Business Parks, Inc.	6,154	945,377
Public Storage	46,299	10,240,413
Rayonier, Inc.	40,200	1,277,958
Realty Income Corp.	93,850	6,570,438
Regency Centers Corp.	52,242	3,509,095
Ryman Hospitality Properties, Inc.	15,500	1,233,800
Sabra Health Care REIT, Inc.	54,953	1,074,881
SBA Communications Corp. *	34,800	7,089,804
Simon Property Group, Inc.	95,350	16,562,295
SL Green Realty Corp.	25,951	2,292,511
Spirit Realty Capital, Inc.	25,656	1,038,042
STORE Capital Corp.	61,140	2,037,185
Sun Communities, Inc.	26,600	3,273,928
Sunstone Hotel Investors, Inc.	71,700	1,032,480

₁₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
The Howard Hughes Corp. *	12,200	1,354,200
The Macerich Co.	32,515	1,305,152
UDR, Inc.	84,662	3,805,557
Uniti Group, Inc.	54,960	604,010
Ventas, Inc.	110,320	6,741,655
VEREIT, Inc.	298,200	2,463,132
VICI Properties, Inc.	110,633	2,522,432
Vornado Realty Trust	53,234	3,680,599
Weingarten Realty Investors	37,309	1,079,722
Welltower, Inc.	119,339	8,894,336
Weyerhaeuser Co.	229,726	6,156,657
WP Carey, Inc.	52,404	4,156,685
		313,289,243

Retailing 6.3%
Advance Auto Parts, Inc.	22,228	3,696,961
Amazon.com, Inc. *	127,321	245,286,453
American Eagle Outfitters, Inc.	51,999	1,236,536
AutoNation, Inc. *	17,606	738,220
AutoZone, Inc. *	7,667	7,884,053
Best Buy Co., Inc.	71,881	5,348,665
Booking Holdings, Inc. *	13,887	25,760,246
Burlington Stores, Inc. *	20,853	3,522,280
CarMax, Inc. *	53,093	4,133,821
Dollar General Corp.	81,260	10,246,073
Dollar Tree, Inc. *	73,549	8,184,533
eBay, Inc.	265,379	10,283,436
Etsy, Inc. *	36,873	2,490,402
Expedia Group, Inc.	36,404	4,726,695
Five Below, Inc. *	17,000	2,488,630
Foot Locker, Inc.	34,809	1,991,423
Genuine Parts Co.	45,030	4,617,376
GrubHub, Inc. *	27,800	1,856,762
Kohl's Corp.	51,395	3,654,184
L Brands, Inc.	71,123	1,823,594
LKQ Corp. *	97,900	2,946,790
Lowe's Cos., Inc.	247,161	27,963,796
Macy's, Inc.	93,676	2,205,133
Nordstrom, Inc.	33,076	1,356,778
O'Reilly Automotive, Inc. *	24,183	9,154,958
Ollie's Bargain Outlet Holdings, Inc. *	15,874	1,518,189
Penske Automotive Group, Inc.	10,700	491,344
Pool Corp.	11,990	2,203,043
Qurate Retail, Inc. *	129,357	2,205,537
Ross Stores, Inc.	114,630	11,194,766
Target Corp.	161,073	12,470,272
The Gap, Inc.	66,664	1,738,597
The Home Depot, Inc.	348,495	70,988,431
The TJX Cos., Inc.	381,744	20,950,111
Tiffany & Co.	33,827	3,647,227
Tractor Supply Co.	37,300	3,860,550
Ulta Salon, Cosmetics & Fragrance, Inc. *	17,492	6,104,358
Urban Outfitters, Inc. *	22,300	662,979
Wayfair, Inc., Class A *	19,100	3,097,065
Williams-Sonoma, Inc.	24,139	1,380,027
		536,110,294

Semiconductors & Semiconductor Equipment 3.9%
Advanced Micro Devices, Inc. *	273,610	7,559,844
Analog Devices, Inc.	113,329	13,173,363
Applied Materials, Inc.	293,124	12,917,975
Broadcom, Inc.	122,242	38,921,853
Cree, Inc. *	31,459	2,079,125
Cypress Semiconductor Corp.	114,630	1,969,343
Entegris, Inc.	40,930	1,672,400
First Solar, Inc. *	22,700	1,396,731

Security	Number of Shares	Value ($)
Intel Corp.	1,387,754	70,830,964
KLA-Tencor Corp.	51,278	6,536,919
Lam Research Corp.	47,109	9,771,820
Marvell Technology Group Ltd.	181,074	4,530,471
Maxim Integrated Products, Inc.	83,670	5,020,200
Microchip Technology, Inc.	73,388	7,330,727
Micron Technology, Inc. *	345,995	14,552,550
MKS Instruments, Inc.	16,800	1,528,968
Monolithic Power Systems, Inc.	11,934	1,858,243
NVIDIA Corp.	186,784	33,807,904
ON Semiconductor Corp. *	125,410	2,891,955
Qorvo, Inc. *	38,200	2,888,302
QUALCOMM, Inc.	373,481	32,167,919
Semtech Corp. *	20,196	1,087,959
Silicon Laboratories, Inc. *	13,400	1,442,644
Skyworks Solutions, Inc.	54,100	4,770,538
Teradyne, Inc.	52,950	2,594,550
Texas Instruments, Inc.	289,712	34,136,765
Universal Display Corp.	13,000	2,074,800
Xilinx, Inc.	78,205	9,395,549
		328,910,381

Software & Services 12.4%
Accenture plc, Class A	196,694	35,930,093
ACI Worldwide, Inc. *	35,763	1,270,302
Adobe, Inc. *	150,551	43,546,877
Akamai Technologies, Inc. *	50,009	4,003,721
Alliance Data Systems Corp.	13,991	2,239,959
Amdocs Ltd.	43,600	2,401,488
ANSYS, Inc. *	25,916	5,074,353
Aspen Technology, Inc. *	21,900	2,669,829
Autodesk, Inc. *	67,692	12,063,391
Automatic Data Processing, Inc.	134,205	22,061,960
Black Knight, Inc. *	44,566	2,514,414
Blackbaud, Inc.	15,000	1,189,350
Booz Allen Hamilton Holding Corp.	43,900	2,602,831
Broadridge Financial Solutions, Inc.	35,700	4,217,241
CACI International, Inc., Class A *	7,659	1,493,045
Cadence Design Systems, Inc. *	87,127	6,044,871
CDK Global, Inc.	38,919	2,347,594
Ceridian HCM Holding, Inc. *	17,211	914,765
Citrix Systems, Inc.	38,570	3,894,027
Cognizant Technology Solutions Corp., Class A	176,938	12,909,397
Coupa Software, Inc. *	16,722	1,727,884
DocuSign, Inc. *	7,140	404,624
Dropbox, Inc., Class A *	63,351	1,544,497
DXC Technology Co.	82,811	5,443,995
EPAM Systems, Inc. *	15,990	2,867,966
Euronet Worldwide, Inc. *	15,685	2,351,025
Fair Isaac Corp. *	9,046	2,530,619
Fidelity National Information Services, Inc.	99,572	11,543,382
FireEye, Inc. *	60,574	970,395
First Data Corp., Class A *	176,524	4,564,911
Fiserv, Inc. *	120,850	10,542,954
FleetCor Technologies, Inc. *	26,499	6,914,914
Fortinet, Inc. *	44,600	4,166,532
Gartner, Inc. *	27,440	4,362,137
Genpact Ltd.	46,564	1,690,273
Global Payments, Inc.	48,699	7,113,463
GoDaddy, Inc., Class A *	52,319	4,263,999
Guidewire Software, Inc. *	24,600	2,619,900
HubSpot, Inc. *	11,891	2,193,771
International Business Machines Corp.	274,598	38,517,861
Intuit, Inc.	80,007	20,086,557
j2 Global, Inc.	14,400	1,261,728
Jack Henry & Associates, Inc.	23,600	3,517,816

₁₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Leidos Holdings, Inc.	45,321	3,330,187
LogMeIn, Inc.	15,331	1,263,274
Mastercard, Inc., Class A	278,587	70,827,959
MAXIMUS, Inc.	19,300	1,421,445
Microsoft Corp.	2,367,484	309,193,410
New Relic, Inc. *	13,985	1,471,781
Nuance Communications, Inc. *	89,900	1,513,017
Nutanix, Inc., Class A *	23,700	1,023,603
Okta, Inc. *	24,808	2,580,776
Oracle Corp.	786,289	43,505,370
Palo Alto Networks, Inc. *	29,300	7,290,719
Paychex, Inc.	98,596	8,312,629
Paycom Software, Inc. *	14,900	3,017,697
Paylocity Holding Corp. *	9,751	941,459
PayPal Holdings, Inc. *	362,112	40,835,370
Pegasystems, Inc.	10,800	810,108
Proofpoint, Inc. *	16,800	2,107,056
PTC, Inc. *	32,800	2,967,416
RealPage, Inc. *	22,000	1,434,620
Red Hat, Inc. *	54,531	9,953,543
RingCentral, Inc., Class A *	21,019	2,445,981
Sabre Corp.	84,650	1,757,334
salesforce.com, Inc. *	236,175	39,051,536
Science Applications International Corp.	15,664	1,174,017
ServiceNow, Inc. *	55,380	15,036,224
Splunk, Inc. *	45,750	6,315,330
Square, Inc., Class A *	94,700	6,896,054
SS&C Technologies Holdings, Inc.	65,900	4,458,794
Symantec Corp.	196,089	4,747,315
Synopsys, Inc. *	46,290	5,604,793
Tableau Software, Inc., Class A *	21,800	2,655,458
Teradata Corp. *	35,844	1,629,827
The Trade Desk, Inc., Class A *	11,086	2,455,327
The Ultimate Software Group, Inc. *	9,700	3,207,305
The Western Union Co.	135,759	2,639,155
Total System Services, Inc.	50,260	5,138,582
Twilio, Inc., Class A *	29,511	4,047,139
Tyler Technologies, Inc. *	12,000	2,782,920
VeriSign, Inc. *	32,505	6,418,112
Visa, Inc., Class A	540,102	88,808,972
VMware, Inc., Class A	23,300	4,756,229
WEX, Inc. *	13,300	2,796,990
Workday, Inc., Class A *	46,650	9,592,640
Worldpay, Inc., Class A *	93,190	10,922,800
Zendesk, Inc. *	33,730	2,960,819
Zscaler, Inc. *	4,421	301,999
		1,062,993,802

Technology Hardware & Equipment 5.6%
Amphenol Corp., Class A	92,240	9,183,415
Apple, Inc.	1,382,281	277,382,328
Arista Networks, Inc. *	16,190	5,055,975
Arrow Electronics, Inc. *	25,770	2,177,823
Avnet, Inc.	33,434	1,625,227
CDW Corp.	46,000	4,857,600
Ciena Corp. *	43,544	1,670,348
Cisco Systems, Inc.	1,358,403	76,002,648
Cognex Corp.	53,400	2,692,962
CommScope Holding Co., Inc. *	59,700	1,479,366
Corning, Inc.	242,753	7,731,683
Dell Technologies, Inc., Class C *	45,766	3,085,086
Dolby Laboratories, Inc., Class A	19,800	1,280,862
F5 Networks, Inc. *	18,573	2,914,104
FLIR Systems, Inc.	42,010	2,224,009
Hewlett Packard Enterprise Co.	425,594	6,728,641
HP, Inc.	473,878	9,453,866
IPG Photonics Corp. *	10,800	1,887,084

Security	Number of Shares	Value ($)
Jabil, Inc.	44,900	1,356,429
Juniper Networks, Inc.	106,394	2,954,561
Keysight Technologies, Inc. *	58,050	5,052,092
Littelfuse, Inc.	7,700	1,548,085
Lumentum Holdings, Inc. *	24,298	1,505,747
Motorola Solutions, Inc.	50,592	7,331,287
National Instruments Corp.	33,894	1,596,407
NetApp, Inc.	76,140	5,546,799
Pure Storage, Inc., Class A *	53,295	1,218,324
Seagate Technology plc	79,351	3,834,240
SYNNEX Corp.	12,700	1,370,076
TE Connectivity Ltd.	104,729	10,017,329
Tech Data Corp. *	11,820	1,260,130
Trimble, Inc. *	78,336	3,197,676
Ubiquiti Networks, Inc.	5,700	971,565
ViaSat, Inc. *	18,070	1,641,117
Western Digital Corp.	88,993	4,549,322
Xerox Corp.	60,731	2,025,986
Zebra Technologies Corp., Class A *	16,500	3,483,810
		477,894,009

Telecommunication Services 1.8%
AT&T, Inc.	2,247,728	69,589,659
CenturyLink, Inc.	296,581	3,386,955
Intelsat S.A. *	20,695	418,867
Sprint Corp. *	176,400	984,312
T-Mobile US, Inc. *	96,500	7,043,535
Telephone & Data Systems, Inc.	28,470	907,623
Verizon Communications, Inc.	1,275,005	72,917,536
Zayo Group Holdings, Inc. *	62,300	1,949,367
		157,197,854

Transportation 2.0%
Alaska Air Group, Inc.	37,600	2,327,440
AMERCO	2,300	858,291
American Airlines Group, Inc.	122,133	4,174,506
C.H. Robinson Worldwide, Inc.	42,248	3,422,088
CSX Corp.	239,135	19,042,320
Delta Air Lines, Inc.	191,530	11,164,284
Expeditors International of Washington, Inc.	52,998	4,209,101
FedEx Corp.	74,213	14,060,395
Genesee & Wyoming, Inc., Class A *	17,600	1,560,240
JB Hunt Transport Services, Inc.	26,491	2,502,870
JetBlue Airways Corp. *	96,948	1,798,385
Kansas City Southern	31,009	3,818,448
Kirby Corp. *	16,152	1,319,941
Knight-Swift Transportation Holdings, Inc.	39,346	1,312,189
Landstar System, Inc.	12,099	1,318,307
Macquarie Infrastructure Corp.	23,100	935,781
Norfolk Southern Corp.	82,566	16,845,115
Old Dominion Freight Line, Inc.	20,200	3,015,456
Southwest Airlines Co.	153,407	8,319,262
Spirit Airlines, Inc. *	20,968	1,140,240
Union Pacific Corp.	223,089	39,495,677
United Continental Holdings, Inc. *	68,978	6,129,385
United Parcel Service, Inc., Class B	214,747	22,810,426
XPO Logistics, Inc. *	33,436	2,276,323
		173,856,470

Utilities 3.2%
AES Corp.	204,102	3,494,226
ALLETE, Inc.	15,800	1,286,910
Alliant Energy Corp.	72,300	3,414,729
Ameren Corp.	75,695	5,508,325

₁₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab 1000 Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
American Electric Power Co., Inc.	152,341	13,032,773
American Water Works Co., Inc.	56,180	6,078,114
Aqua America, Inc.	64,983	2,538,236
Atmos Energy Corp.	35,918	3,675,848
Avangrid, Inc.	17,100	875,691
Black Hills Corp.	16,489	1,199,740
CenterPoint Energy, Inc.	154,311	4,783,641
CMS Energy Corp.	87,133	4,840,238
Consolidated Edison, Inc.	99,093	8,537,853
Dominion Energy, Inc.	246,619	19,204,221
DTE Energy Co.	55,897	7,026,812
Duke Energy Corp.	224,356	20,443,319
Edison International	100,734	6,423,807
Entergy Corp.	58,532	5,671,751
Evergy, Inc.	78,487	4,538,118
Eversource Energy	97,991	7,022,035
Exelon Corp.	299,229	15,245,717
FirstEnergy Corp.	155,484	6,534,992
Hawaiian Electric Industries, Inc.	33,800	1,402,024
IDACORP, Inc.	15,210	1,506,094
MDU Resources Group, Inc.	61,117	1,598,210
National Fuel Gas Co.	26,747	1,583,690
New Jersey Resources Corp.	26,933	1,348,805
NextEra Energy, Inc.	147,541	28,687,872
NiSource, Inc.	115,179	3,199,673
NRG Energy, Inc.	86,890	3,577,261
OGE Energy Corp.	62,298	2,637,697
ONE Gas, Inc.	16,000	1,416,320
Pinnacle West Capital Corp.	34,937	3,328,448
PNM Resources, Inc.	24,524	1,138,895
Portland General Electric Co.	27,200	1,422,832
PPL Corp.	221,261	6,905,556
Public Service Enterprise Group, Inc.	155,931	9,301,284
Sempra Energy	84,564	10,819,964
Southwest Gas Holdings, Inc. *	16,300	1,355,997
Spire, Inc.	15,427	1,298,799
The Southern Co.	319,285	16,992,348
UGI Corp.	53,472	2,914,759
Vistra Energy Corp.	120,700	3,289,075
WEC Energy Group, Inc.	97,507	7,647,474
Xcel Energy, Inc.	159,339	9,002,653
		273,752,826
Total Common Stock
(Cost $2,208,531,503)		8,523,645,606

Other Investment Companies 0.2% of net assets

Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 2.37% (c)	8,158,119	8,158,119

Securities Lending Collateral 0.1%
Wells Fargo Government Money Market Fund, Select Class 2.36% (c)	11,378,750	11,378,750
Total Other Investment Companies
(Cost $19,536,869)		19,536,869

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
S&P 500 Index, e-mini, expires 06/21/19	128	18,870,400	667,211

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $11,008,300.
(b)	Issuer is affiliated with the fund's investment adviser.
(c)	The rate shown is the 7-day yield.

REIT —

Real Estate Investment Trust

₁₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 1.0%
American Axle & Manufacturing Holdings, Inc. *	224,708	3,314,443
Cooper Tire & Rubber Co.	103,084	3,078,088
Cooper-Standard Holding, Inc. *	35,957	1,821,941
Dana, Inc.	295,943	5,770,889
Dorman Products, Inc. *	54,442	4,772,930
Fox Factory Holding Corp. *	73,214	5,681,406
Gentherm, Inc. *	70,440	2,983,838
LCI Industries	49,429	4,342,338
Modine Manufacturing Co. *	99,450	1,470,866
Motorcar Parts of America, Inc. *	38,495	795,307
Shiloh Industries, Inc. *	28,902	165,319
Standard Motor Products, Inc.	42,725	2,134,968
Stoneridge, Inc. *	55,924	1,757,691
Superior Industries International, Inc.	47,511	235,180
Tenneco, Inc., Class A	103,169	2,261,465
Tower International, Inc.	40,560	946,670
Winnebago Industries, Inc.	62,942	2,226,259
		43,759,598

Banks 11.6%
1st Constitution Bancorp	16,177	303,804
1st Source Corp.	31,705	1,484,745
ACNB Corp.	13,745	520,523
Allegiance Bancshares, Inc. *	23,826	823,665
Amalgamated Bank, Class A	23,070	391,036
American National Bankshares, Inc.	21,157	800,158
Ameris Bancorp	86,315	3,147,045
Ames National Corp.	16,940	478,555
Arrow Financial Corp.	24,161	813,018
Atlantic Capital Bancshares, Inc. *	50,481	880,389
Auburn National Bancorp, Inc. (a)	4,400	157,388
Axos Financial, Inc. *	116,881	3,824,346
Banc of California, Inc.	88,040	1,277,460
BancFirst Corp.	36,653	2,067,229
BancorpSouth Bank	190,545	5,807,812
Bank of Commerce Holdings	30,228	327,067
Bank of Marin Bancorp	27,592	1,168,521
Bank7 Corp. *	6,830	118,296
BankFinancial Corp.	25,700	385,757
Bankwell Financial Group, Inc.	12,876	392,589
Banner Corp.	64,935	3,442,854
Bar Harbor Bankshares	30,457	800,410
Baycom Corp. *	20,965	483,243
BCB Bancorp, Inc.	26,700	352,974
Berkshire Hills Bancorp, Inc.	82,086	2,461,759
Boston Private Financial Holdings, Inc.	169,909	1,945,458
Bridge Bancorp, Inc.	33,680	1,043,743
Bridgewater Bancshares, Inc. *	47,796	510,939
Brookline Bancorp, Inc.	160,468	2,415,043
Bryn Mawr Bank Corp.	39,936	1,521,162
Business First Bancshares, Inc.	21,951	558,653
Byline Bancorp, Inc. *	33,530	671,271
C&F Financial Corp.	6,601	320,149
Cadence BanCorp	243,452	5,538,533

Security	Number of Shares	Value ($)
Cambridge Bancorp	7,393	619,903
Camden National Corp.	31,133	1,369,229
Capital Bancorp, Inc. *	12,520	142,352
Capital City Bank Group, Inc.	23,683	543,288
Capitol Federal Financial, Inc.	265,879	3,669,130
Capstar Financial Holdings, Inc.	16,936	262,339
Carolina Financial Corp.	42,659	1,539,563
Cathay General Bancorp	156,592	5,761,020
CB Financial Services, Inc.	8,900	211,286
CBTX, Inc.	35,903	1,138,125
CenterState Bank Corp.	245,423	6,057,040
Central Pacific Financial Corp.	57,098	1,713,511
Central Valley Community Bancorp	22,500	460,350
Century Bancorp, Inc., Class A	5,660	518,852
Chemical Financial Corp.	144,299	6,339,055
Chemung Financial Corp.	7,040	333,555
Citizens & Northern Corp.	24,410	692,023
City Holding Co.	32,055	2,544,526
Civista Bancshares, Inc.	28,800	633,600
CNB Financial Corp.	28,892	822,844
Coastal Financial Corp. *	15,073	240,414
Codorus Valley Bancorp, Inc.	17,919	379,166
Columbia Banking System, Inc.	148,200	5,563,428
Columbia Financial, Inc. *	100,327	1,591,186
Community Bank System, Inc.	101,819	6,766,891
Community Bankers Trust Corp.	43,669	344,112
Community Trust Bancorp, Inc.	31,472	1,329,692
ConnectOne Bancorp, Inc.	60,435	1,319,296
County Bancorp, Inc.	10,600	190,058
Customers Bancorp, Inc. *	58,961	1,335,467
CVB Financial Corp.	226,554	4,916,222
Dime Community Bancshares, Inc.	63,378	1,277,067
Eagle Bancorp, Inc. *	64,320	3,554,323
Entegra Financial Corp. *	13,300	392,350
Enterprise Bancorp, Inc.	19,689	624,732
Enterprise Financial Services Corp.	45,405	1,931,529
Equity Bancshares, Inc., Class A *	27,264	715,953
Esquire Financial Holdings, Inc. *	13,514	339,742
ESSA Bancorp, Inc.	18,600	284,766
Essent Group Ltd. *	194,579	9,232,774
Evans Bancorp, Inc.	9,330	342,784
Farmers & Merchants Bancorp, Inc.	18,823	597,442
Farmers National Banc Corp.	51,704	744,021
FB Financial Corp.	33,170	1,218,666
Federal Agricultural Mortgage Corp., Class C	17,955	1,373,198
Fidelity D&D Bancorp, Inc. (a)	5,770	346,200
Fidelity Southern Corp.	43,894	1,277,754
Financial Institutions, Inc.	31,340	861,850
First BanCorp	432,190	4,883,747
First Bancorp (North Carolina)	59,081	2,239,761
First Bancorp, Inc.	19,776	530,195
First Bank/Hamilton NJ	33,507	382,315
First Busey Corp.	89,349	2,308,778
First Business Financial Services, Inc.	16,640	383,219
First Choice Bancorp	18,760	398,838
First Commonwealth Financial Corp.	198,143	2,696,726
First Community Bankshares, Inc.	31,150	1,082,774
First Community Corp.	13,600	255,544
First Defiance Financial Corp.	40,310	1,189,548

₁₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
First Financial Bancorp	193,713	4,862,196
First Financial Bankshares, Inc.	131,745	8,104,952
First Financial Corp.	24,323	1,001,378
First Financial Northwest, Inc.	15,804	264,401
First Foundation, Inc.	77,325	1,098,788
First Guaranty Bancshares, Inc.	9,650	206,993
First Internet Bancorp	20,089	439,748
First Interstate BancSystem, Inc., Class A	66,472	2,809,107
First Merchants Corp.	100,593	3,688,745
First Mid Bancshares, Inc.	25,898	893,222
First Midwest Bancorp, Inc.	213,524	4,584,360
First Northwest Bancorp	18,910	307,855
First Savings Financial Group, Inc.	3,500	203,350
First United Corp.	14,381	272,089
Flagstar Bancorp, Inc.	59,573	2,129,735
Flushing Financial Corp.	54,252	1,226,095
Franklin Financial Network, Inc.	26,401	729,988
FS Bancorp, Inc.	8,007	413,882
Fulton Financial Corp.	337,946	5,829,568
FVCBankcorp, Inc. *	3,860	63,304
German American Bancorp, Inc.	46,136	1,377,160
Glacier Bancorp, Inc.	171,933	7,322,626
Great Southern Bancorp, Inc.	22,339	1,294,545
Great Western Bancorp, Inc.	115,646	4,067,270
Greene County Bancorp, Inc.	6,562	202,897
Guaranty Bancshares, Inc.	15,913	446,678
Hancock Whitney Corp.	172,565	7,547,993
Hanmi Financial Corp.	61,150	1,450,478
HarborOne Bancorp, Inc. *	30,062	562,761
Heartland Financial USA, Inc.	59,845	2,687,040
Heritage Commerce Corp.	81,177	1,016,336
Heritage Financial Corp.	74,697	2,261,078
Hilltop Holdings, Inc.	144,526	3,039,382
Hingham Institution for Savings	2,692	498,047
Home Bancorp, Inc.	15,300	560,592
Home BancShares, Inc.	317,468	6,092,211
HomeStreet, Inc. *	49,948	1,405,537
HomeTrust Bancshares, Inc.	34,389	872,105
Hope Bancorp, Inc.	244,437	3,436,784
Horizon Bancorp, Inc.	74,975	1,219,843
Howard Bancorp, Inc. *	26,940	404,908
IBERIABANK Corp.	112,348	8,931,666
Impac Mortgage Holdings, Inc. *	17,322	59,588
Independent Bank Corp.	66,789	5,358,481
Independent Bank Corp., Michigan	42,713	919,611
Independent Bank Group, Inc.	66,165	3,771,405
International Bancshares Corp.	111,683	4,631,494
Investar Holding Corp.	18,630	433,706
Investors Bancorp, Inc.	482,030	5,663,852
Kearny Financial Corp.	178,775	2,502,850
Lakeland Bancorp, Inc.	91,030	1,507,457
Lakeland Financial Corp.	49,416	2,359,614
LCNB Corp.	19,025	323,425
LegacyTexas Financial Group, Inc.	96,386	3,863,151
LendingTree, Inc. *	16,105	6,197,526
Level One Bancorp, Inc.	9,970	246,957
Live Oak Bancshares, Inc.	51,489	899,513
Luther Burbank Corp.	42,018	442,450
Macatawa Bank Corp.	53,650	553,668
Malvern Bancorp, Inc. *	15,895	336,815
MBT Financial Corp.	33,020	331,521
Mercantile Bank Corp.	33,002	1,115,468
Merchants Bancorp	33,095	800,237
Meridian Bancorp, Inc.	97,323	1,675,902
Meta Financial Group, Inc.	55,920	1,440,499
Metropolitan Bank Holding Corp. *	13,494	538,546
MGIC Investment Corp. *	718,589	10,520,143
Mid Penn Bancorp, Inc.	8,900	216,982

Security	Number of Shares	Value ($)
Middlefield Banc Corp.	6,240	253,032
Midland States Bancorp, Inc.	43,998	1,180,026
MidSouth Bancorp, Inc.	29,170	346,248
MidWestOne Financial Group, Inc.	21,961	618,861
Mr Cooper Group, Inc. *	151,940	1,306,684
MutualFirst Financial, Inc.	11,680	349,115
MVB Financial Corp.	18,547	307,695
National Bank Holdings Corp., Class A	58,927	2,253,368
National Bankshares, Inc.	13,833	584,998
NBT Bancorp, Inc.	86,421	3,285,726
Nicolet Bankshares, Inc. *	15,986	975,945
NMI Holdings, Inc., Class A *	127,806	3,588,792
Northeast Bancorp	15,064	330,203
Northfield Bancorp, Inc.	87,826	1,317,390
Northrim BanCorp, Inc.	13,880	492,601
Northwest Bancshares, Inc.	193,285	3,368,958
Norwood Financial Corp.	12,672	407,785
Oak Valley Bancorp (a)	13,100	251,127
OceanFirst Financial Corp.	96,951	2,441,226
Oconee Federal Financial Corp.	3,710	97,276
Ocwen Financial Corp. *	243,150	410,923
OFG Bancorp	87,156	1,758,808
Ohio Valley Banc Corp.	8,584	322,587
Old Line Bancshares, Inc.	31,930	798,250
Old National Bancorp	306,830	5,240,656
Old Second Bancorp, Inc.	58,779	778,822
OP Bancorp	27,171	255,951
Opus Bank	40,065	876,222
Origin Bancorp, Inc.	35,248	1,228,040
Oritani Financial Corp.	77,963	1,352,658
Orrstown Financial Services, Inc.	18,331	380,185
Pacific City Financial Corp.	24,818	454,666
Pacific Mercantile Bancorp *	32,250	252,518
Pacific Premier Bancorp, Inc.	91,833	2,669,585
Park National Corp.	27,881	2,723,416
Parke Bancorp, Inc.	13,940	318,947
PCSB Financial Corp.	32,100	611,505
Peapack-Gladstone Financial Corp.	38,153	1,103,766
Penns Woods Bancorp, Inc.	8,900	388,574
PennyMac Financial Services, Inc.	40,548	904,220
People's Utah Bancorp	31,179	887,043
Peoples Bancorp of North Carolina, Inc.	9,150	255,926
Peoples Bancorp, Inc.	35,988	1,176,088
Peoples Financial Services Corp.	13,696	595,776
Ponce de Leon Federal Bank *	16,900	244,543
Preferred Bank	28,117	1,383,075
Premier Financial Bancorp, Inc.	23,233	385,203
Provident Bancorp, Inc. *	8,700	213,150
Provident Financial Services, Inc.	124,174	3,293,094
Prudential Bancorp, Inc.	17,200	300,312
QCR Holdings, Inc.	26,754	915,254
Radian Group, Inc.	438,183	10,262,246
RBB Bancorp	28,453	550,850
Reliant Bancorp, Inc.	20,138	461,160
Renasant Corp.	97,879	3,549,093
Republic Bancorp, Inc., Class A	19,537	923,319
Republic First Bancorp, Inc. *	90,400	462,848
Riverview Bancorp, Inc.	41,890	310,824
S&T Bancorp, Inc.	69,656	2,791,812
Sandy Spring Bancorp, Inc.	70,070	2,444,742
SB One Bancorp	14,938	354,777
Seacoast Banking Corp. of Florida *	93,292	2,645,761
Select Bancorp, Inc. *	29,960	367,909
ServisFirst Bancshares, Inc.	93,719	3,180,823
Shore Bancshares, Inc.	26,439	418,529
SI Financial Group, Inc.	20,830	298,286
Sierra Bancorp	28,100	743,526
Simmons First National Corp., Class A	183,602	4,661,655

₁₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
SmartFinancial, Inc. *	23,740	493,555
South State Corp.	72,017	5,448,806
Southern First Bancshares, Inc. *	14,211	523,107
Southern Missouri Bancorp, Inc.	15,034	504,391
Southern National Bancorp of Virginia, Inc.	39,508	589,459
Southside Bancshares, Inc.	64,892	2,279,656
Spirit of Texas Bancshares, Inc. *	20,613	463,174
Sterling Bancorp, Inc.	42,739	418,415
Stock Yards Bancorp, Inc.	43,412	1,491,202
Summit Financial Group, Inc.	22,894	596,389
Territorial Bancorp, Inc.	15,705	454,660
The Bancorp, Inc. *	103,182	1,053,488
The Bank of N.T. Butterfield & Son Ltd.	113,445	4,540,069
The Bank of Princeton	11,896	358,070
The Community Financial Corp.	9,300	284,766
The First Bancshares, Inc.	25,227	779,010
The First of Long Island Corp.	49,849	1,159,986
Timberland Bancorp, Inc.	15,113	471,526
Tompkins Financial Corp.	29,737	2,398,884
Towne Bank	132,930	3,466,814
TriCo Bancshares	51,503	2,055,485
TriState Capital Holdings, Inc. *	49,979	1,162,512
Triumph Bancorp, Inc. *	49,741	1,542,468
TrustCo Bank Corp.	190,331	1,522,648
Trustmark Corp.	132,390	4,760,744
UMB Financial Corp.	91,706	6,406,581
Union Bankshares Corp.	156,240	5,702,760
Union Bankshares, Inc.	7,500	296,325
United Bankshares, Inc.	199,939	7,845,606
United Community Banks, Inc.	159,147	4,468,848
United Community Financial Corp.	95,589	880,375
United Financial Bancorp, Inc.	102,100	1,346,699
United Security Bancshares	25,900	271,950
Unity Bancorp, Inc.	15,793	341,129
Univest Financial Corp.	58,295	1,470,200
Valley National Bancorp	653,757	6,851,373
Veritex Holdings, Inc.	88,917	2,357,190
Walker & Dunlop, Inc.	55,844	3,068,628
Washington Federal, Inc.	164,122	5,439,003
Washington Trust Bancorp, Inc.	30,206	1,564,973
Waterstone Financial, Inc.	49,309	816,557
WesBanco, Inc.	105,888	4,269,404
West Bancorp, Inc.	31,399	658,437
Westamerica Bancorp	51,951	3,336,293
Western New England Bancorp, Inc.	51,880	501,161
WSFS Financial Corp.	102,910	4,443,654
		492,409,676

Capital Goods 9.3%
AAON, Inc.	83,710	4,203,079
AAR Corp.	66,533	2,246,819
Actuant Corp., Class A	122,913	3,144,115
Advanced Drainage Systems, Inc.	73,349	2,057,439
Aegion Corp. *	64,360	1,281,408
Aerojet Rocketdyne Holdings, Inc. *	146,710	4,967,601
Aerovironment, Inc. *	42,738	2,930,117
Aircastle Ltd.	109,594	2,183,112
Alamo Group, Inc.	19,476	2,018,493
Albany International Corp., Class A	58,206	4,305,498
Allied Motion Technologies, Inc.	14,454	529,161
Altra Industrial Motion Corp.	121,248	4,545,588
Ameresco, Inc., Class A *	37,400	563,244
American Woodmark Corp. *	28,231	2,538,814
Apogee Enterprises, Inc.	53,824	2,169,107
Applied Industrial Technologies, Inc.	77,596	4,651,104
Argan, Inc.	29,620	1,416,428

Security	Number of Shares	Value ($)
Armstrong Flooring, Inc. *	44,567	645,776
Astec Industries, Inc.	46,303	1,560,874
Astronics Corp. *	43,278	1,442,889
Atkore International Group, Inc. *	79,493	1,968,247
Axon Enterprise, Inc. *	116,156	7,375,906
AZZ, Inc.	52,101	2,474,276
Babcock & Wilcox Enterprises, Inc. *	60,000	20,946
Barnes Group, Inc.	96,994	5,394,806
Beacon Roofing Supply, Inc. *	137,968	5,195,875
Blue Bird Corp. *	30,267	523,922
BlueLinx Holdings, Inc. *	17,481	449,611
BMC Stock Holdings, Inc. *	136,318	2,805,424
Briggs & Stratton Corp.	83,651	1,020,542
Builders FirstSource, Inc. *	229,068	3,156,557
Caesarstone Ltd.	46,942	710,232
CAI International, Inc. *	34,237	850,105
Chart Industries, Inc. *	62,212	5,491,453
CIRCOR International, Inc. *	32,697	1,102,543
Columbus McKinnon Corp.	45,195	1,778,875
Comfort Systems USA, Inc.	74,298	4,019,522
Commercial Vehicle Group, Inc. *	62,540	557,857
Continental Building Products, Inc. *	75,374	1,933,343
CSW Industrials, Inc. *	30,175	1,808,991
Cubic Corp.	63,553	3,608,539
Douglas Dynamics, Inc.	44,902	1,695,500
Ducommun, Inc. *	21,597	876,406
DXP Enterprises, Inc. *	32,568	1,396,842
Dycom Industries, Inc. *	61,545	3,052,017
EMCOR Group, Inc.	116,059	9,765,204
Encore Wire Corp.	41,262	2,446,424
Energous Corp. *(a)	48,917	248,009
Energy Recovery, Inc. *	72,215	702,652
EnerSys	87,731	6,070,108
Enphase Energy, Inc. *(a)	173,624	1,743,185
EnPro Industries, Inc.	41,345	3,072,760
ESCO Technologies, Inc.	51,553	3,866,475
EVI Industries, Inc. (a)	7,496	273,604
Evoqua Water Technologies Corp. *	153,689	2,093,244
Federal Signal Corp.	119,872	3,448,717
Foundation Building Materials, Inc. *	29,100	395,469
Franklin Electric Co., Inc.	93,870	4,586,488
FreightCar America, Inc. *	23,510	162,689
FuelCell Energy, Inc. *	210,648	55,190
GATX Corp.	76,012	5,862,806
Gencor Industries, Inc. *	17,250	208,208
Generac Holdings, Inc. *	123,101	6,769,324
General Finance Corp. *	21,620	201,066
Gibraltar Industries, Inc. *	64,892	2,574,266
Global Brass & Copper Holdings, Inc.	43,947	1,906,860
GMS, Inc. *	64,960	1,144,595
Graham Corp.	18,500	382,950
Granite Construction, Inc.	89,431	4,014,558
Great Lakes Dredge & Dock Corp. *	116,239	1,189,125
Griffon Corp.	72,262	1,417,780
H&E Equipment Services, Inc.	64,377	1,957,705
Harsco Corp. *	163,322	3,697,610
HC2 Holdings, Inc. *	83,090	177,813
Herc Holdings, Inc. *	48,577	2,339,468
Hillenbrand, Inc.	127,157	5,470,294
Hurco Cos., Inc.	13,045	513,060
Hyster-Yale Materials Handling, Inc.	21,050	1,402,351
IES Holdings, Inc. *	17,000	297,670
Infrastructure and Energy Alternatives, Inc. *	31,920	144,917
Insteel Industries, Inc.	37,201	778,989
JELD-WEN Holding, Inc. *	137,843	2,722,399
John Bean Technologies Corp.	63,317	6,951,573
Kadant, Inc.	22,029	2,160,825

₁₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Kaman Corp.	56,089	3,472,470
Kennametal, Inc.	164,737	6,704,796
Kratos Defense & Security Solutions, Inc. *	177,807	2,823,575
L.B. Foster Co., Class A *	20,486	440,244
Lawson Products, Inc. *	13,737	451,123
Lindsay Corp.	21,629	1,838,465
Lydall, Inc. *	34,205	841,785
Manitex International, Inc. *	31,814	243,059
Masonite International Corp. *	53,304	2,744,623
MasTec, Inc. *	128,194	6,493,026
Maxar Technologies, Inc. *(a)	116,691	575,287
Mercury Systems, Inc. *	94,910	6,930,328
Meritor, Inc. *	162,070	3,931,818
Milacron Holdings Corp. *	140,816	2,057,322
Miller Industries, Inc.	22,652	749,328
Moog, Inc., Class A	64,890	6,076,300
MRC Global, Inc. *	171,137	2,965,804
Mueller Industries, Inc.	115,217	3,360,880
Mueller Water Products, Inc., Class A	314,450	3,374,048
MYR Group, Inc. *	32,693	1,181,852
National Presto Industries, Inc.	10,105	1,076,182
Navistar International Corp. *	99,829	3,408,162
NCI Building Systems, Inc. *	84,156	481,372
NN, Inc.	86,187	779,130
Northwest Pipe Co. *	19,374	464,395
NOW, Inc. *	218,435	3,193,520
NV5 Global, Inc. *	18,813	1,191,615
Omega Flex, Inc.	6,050	512,193
Orion Group Holdings, Inc. *	56,110	145,325
Park-Ohio Holdings Corp.	18,496	677,508
Patrick Industries, Inc. *	46,486	2,318,257
PGT Innovations, Inc. *	113,838	1,668,865
Plug Power, Inc. *(a)	436,359	1,086,534
Powell Industries, Inc.	18,157	531,092
Preformed Line Products Co.	6,271	353,622
Primoris Services Corp.	84,315	1,848,185
Proto Labs, Inc. *	54,792	6,015,614
Quanex Building Products Corp.	66,485	1,111,629
Raven Industries, Inc.	72,371	2,815,956
RBC Bearings, Inc. *	48,472	6,667,324
REV Group, Inc.	60,226	764,268
Rexnord Corp. *	211,396	6,045,926
Rush Enterprises, Inc., Class A	60,491	2,565,423
Rush Enterprises, Inc., Class B	8,930	375,060
Simpson Manufacturing Co., Inc.	83,906	5,343,134
SiteOne Landscape Supply, Inc. *	82,357	5,542,626
Spartan Motors, Inc.	70,590	656,487
SPX Corp. *	87,407	3,190,355
SPX FLOW, Inc. *	85,434	3,070,498
Standex International Corp.	25,465	1,682,473
Sterling Construction Co., Inc. *	54,212	735,115
Sun Hydraulics Corp.	58,386	3,055,923
Sunrun, Inc. *	195,536	2,974,103
Systemax, Inc.	24,861	564,593
Tennant Co.	36,228	2,404,815
Textainer Group Holdings Ltd. *	56,401	540,886
The Eastern Co.	11,372	325,922
The Gorman-Rupp Co.	35,678	1,188,077
The Greenbrier Cos., Inc.	63,675	2,262,373
The KeyW Holding Corp. *	98,972	1,122,342
The Manitowoc Co., Inc. *	70,959	1,267,328
Thermon Group Holdings, Inc. *	65,493	1,689,064
Titan International, Inc.	104,346	723,118
Titan Machinery, Inc. *	38,753	666,552
TPI Composites, Inc. *	29,560	914,882
Trex Co., Inc. *	119,825	8,300,278
TriMas Corp. *	93,143	2,880,913
Triton International Ltd.	105,000	3,459,750

Security	Number of Shares	Value ($)
Triumph Group, Inc.	98,768	2,343,765
Tutor Perini Corp. *	75,741	1,512,548
Twin Disc, Inc. *	18,460	349,632
Universal Forest Products, Inc.	121,022	4,471,763
Vectrus, Inc. *	22,619	917,200
Veritiv Corp. *	23,031	642,335
Vicor Corp. *	35,336	1,325,453
Vivint Solar, Inc. *	78,923	426,973
Wabash National Corp.	110,017	1,659,056
Watts Water Technologies, Inc., Class A	56,145	4,805,451
Wesco Aircraft Holdings, Inc. *	109,114	920,922
Willis Lease Finance Corp. *	6,462	321,291
WillScot Corp. *	77,678	1,046,323
Woodward, Inc.	108,411	11,805,958
		392,349,000

Commercial & Professional Services 4.1%
ABM Industries, Inc.	134,155	5,093,865
Acacia Research Corp. *	95,890	304,930
ACCO Brands Corp.	204,126	1,865,712
Advanced Disposal Services, Inc. *	147,043	4,755,371
ASGN, Inc. *	102,596	6,467,652
Barrett Business Services, Inc.	14,233	1,037,016
BG Staffing, Inc.	17,428	407,292
Brady Corp., Class A	96,507	4,708,577
BrightView Holdings, Inc. *	60,609	972,168
Casella Waste Systems, Inc., Class A *	87,776	3,275,800
CBIZ, Inc. *	104,196	2,012,025
CECO Environmental Corp. *	61,489	477,155
Charah Solutions, Inc. *	19,137	134,724
Cimpress N.V. *	44,736	4,044,134
CompX International, Inc.	2,900	45,153
Covanta Holding Corp.	237,177	4,285,788
CRA International, Inc.	16,204	843,904
Deluxe Corp.	93,965	4,202,115
Ennis, Inc.	51,499	1,039,250
Exponent, Inc.	104,762	5,931,624
Forrester Research, Inc.	21,202	1,078,334
Franklin Covey Co. *	19,948	568,717
FTI Consulting, Inc. *	77,058	6,548,389
GP Strategies Corp. *	24,376	310,306
Healthcare Services Group, Inc.	150,245	5,085,793
Heidrick & Struggles International, Inc.	37,813	1,352,949
Heritage-Crystal Clean, Inc. *	30,558	877,931
Herman Miller, Inc.	119,168	4,626,102
HNI Corp.	87,706	3,219,687
Huron Consulting Group, Inc. *	44,648	2,157,838
ICF International, Inc.	36,597	2,849,808
InnerWorkings, Inc. *	90,190	304,842
Insperity, Inc.	77,607	9,278,693
Interface, Inc.	120,113	1,926,613
Kelly Services, Inc., Class A	62,727	1,396,303
Kforce, Inc.	46,827	1,686,709
Kimball International, Inc., Class B	73,109	1,144,887
Knoll, Inc.	97,777	2,135,450
Korn Ferry	114,846	5,400,059
LSC Communications, Inc.	67,322	470,581
Matthews International Corp., Class A	63,301	2,535,838
McGrath RentCorp	48,772	3,023,864
Mistras Group, Inc. *	36,028	493,944
Mobile Mini, Inc.	89,992	3,241,512
MSA Safety, Inc.	68,960	7,579,394
Multi-Color Corp.	28,110	1,402,689
Navigant Consulting, Inc.	85,836	1,959,636
NL Industries, Inc. *	14,900	52,895
PICO Holdings, Inc. *	39,800	454,914
Pitney Bowes, Inc.	381,907	2,715,359

₁₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Quad Graphics, Inc.	64,106	782,734
Resources Connection, Inc.	59,954	962,861
RR Donnelley & Sons Co.	141,466	653,573
SP Plus Corp. *	45,343	1,565,240
Steelcase, Inc., Class A	173,554	3,000,749
Team, Inc. *	58,966	996,525
Tetra Tech, Inc.	112,418	7,275,693
The Brink's Co.	101,727	8,131,039
TriNet Group, Inc. *	88,160	5,495,894
TrueBlue, Inc. *	81,225	1,962,396
UniFirst Corp.	30,867	4,880,999
Upwork, Inc. *	26,129	522,319
US Ecology, Inc.	44,197	2,696,459
Viad Corp.	41,077	2,518,431
VSE Corp.	18,008	550,505
WageWorks, Inc. *	80,478	3,926,522
Willdan Group, Inc. *	19,847	784,552
		174,490,782

Consumer Durables & Apparel 2.9%
Acushnet Holdings Corp.	69,905	1,762,305
American Outdoor Brands Corp. *	108,778	1,071,463
Bassett Furniture Industries, Inc.	20,009	355,360
Beazer Homes USA, Inc. *	60,165	799,593
Callaway Golf Co.	190,038	3,337,067
Cavco Industries, Inc. *	17,193	2,145,171
Century Communities, Inc. *	52,467	1,334,236
Clarus Corp.	42,566	571,236
Crocs, Inc. *	134,272	3,739,475
Culp, Inc.	23,369	479,532
Deckers Outdoor Corp. *	59,195	9,365,241
Escalade, Inc.	20,400	245,616
Ethan Allen Interiors, Inc.	48,614	1,074,369
Flexsteel Industries, Inc.	15,246	330,228
Fossil Group, Inc. *	92,206	1,205,132
G-III Apparel Group Ltd. *	87,664	3,782,702
GoPro, Inc., Class A *	231,035	1,365,417
Green Brick Partners, Inc. *	50,448	451,005
Hamilton Beach Brands Holding Co., Class A	13,375	242,087
Helen of Troy Ltd. *	52,092	7,501,248
Hooker Furniture Corp.	23,431	698,478
Hovnanian Enterprises, Inc., Class A *	9,575	145,732
Installed Building Products, Inc. *	44,051	2,115,770
iRobot Corp. *	54,649	5,658,357
Johnson Outdoors, Inc., Class A	9,967	764,170
KB Home	173,226	4,488,286
La-Z-Boy, Inc.	94,163	3,088,546
Legacy Housing Corp. *	9,140	110,868
LGI Homes, Inc. *	37,247	2,581,590
Lifetime Brands, Inc.	25,133	237,758
M.D.C. Holdings, Inc.	99,291	3,034,333
M/I Homes, Inc. *	54,486	1,534,871
Malibu Boats, Inc., Class A *	42,007	1,748,331
Marine Products Corp.	15,402	233,648
MasterCraft Boat Holdings, Inc. *	37,551	929,012
Meritage Homes Corp. *	77,184	3,947,962
Movado Group, Inc.	31,940	1,138,661
Nautilus, Inc. *	56,900	304,415
Oxford Industries, Inc.	33,681	2,797,544
Purple Innovation, Inc. *	10,300	59,328
Rocky Brands, Inc.	13,971	356,400
Roku, Inc. *	87,844	5,586,000
Skyline Champion Corp.	68,176	1,439,195
Sonos, Inc. *	32,995	360,305
Steven Madden Ltd.	176,150	6,403,052
Sturm, Ruger & Co., Inc.	33,945	1,900,581

Security	Number of Shares	Value ($)
Superior Group of Cos., Inc.	19,075	319,315
Taylor Morrison Home Corp., Class A *	235,044	4,550,452
The Lovesac Co. *	11,080	436,497
The New Home Co., Inc. *	23,849	109,944
TopBuild Corp. *	72,013	5,129,486
TRI Pointe Group, Inc. *	287,194	3,747,882
Tupperware Brands Corp.	99,007	2,356,367
Turtle Beach Corp. *(a)	17,153	175,647
Unifi, Inc. *	31,966	645,713
Universal Electronics, Inc. *	27,534	1,047,669
Vera Bradley, Inc. *	44,049	540,922
Vista Outdoor, Inc. *	117,024	1,009,917
Vuzix Corp. *(a)	44,000	104,280
William Lyon Homes, Class A *	64,862	1,093,573
Wolverine World Wide, Inc.	186,649	6,870,550
YETI Holdings, Inc. *(a)	34,780	1,240,950
ZAGG, Inc. *	52,521	432,773
		122,633,613

Consumer Services 3.8%
Adtalem Global Education, Inc. *	116,704	5,755,841
American Public Education, Inc. *	32,039	1,025,248
BBX Capital Corp.	132,653	734,898
Biglari Holdings, Inc., Class A *	191	140,767
Biglari Holdings, Inc., Class B *	1,810	252,187
BJ's Restaurants, Inc.	42,422	2,117,282
Bloomin' Brands, Inc.	167,314	3,344,607
Bluegreen Vacations Corp. (a)	15,000	228,000
Boyd Gaming Corp.	167,193	4,811,815
Brinker International, Inc.	75,610	3,233,840
Career Education Corp. *	137,508	2,495,770
Carriage Services, Inc.	35,601	624,798
Carrols Restaurant Group, Inc. *	71,430	700,728
Century Casinos, Inc. *	53,700	488,670
Chegg, Inc. *	219,883	7,838,829
Churchill Downs, Inc.	71,414	7,202,102
Chuy's Holdings, Inc. *	34,135	678,945
Cracker Barrel Old Country Store, Inc.	39,085	6,595,203
Dave & Buster's Entertainment, Inc.	78,655	4,470,750
Del Frisco's Restaurant Group, Inc. *	67,787	454,173
Del Taco Restaurants, Inc. *	63,082	633,974
Denny's Corp. *	124,037	2,309,569
Dine Brands Global, Inc.	33,753	2,992,541
Drive Shack, Inc. *	121,934	626,741
El Pollo Loco Holdings, Inc. *	45,189	577,515
Eldorado Resorts, Inc. *	133,154	6,573,813
Empire Resorts, Inc. *(a)	8,021	111,733
Everi Holdings, Inc. *	133,108	1,369,681
Fiesta Restaurant Group, Inc. *	47,134	596,716
Golden Entertainment, Inc. *	36,698	577,260
Houghton Mifflin Harcourt Co. *	209,386	1,492,922
International Speedway Corp., Class A	47,795	2,108,715
J Alexander's Holdings, Inc. *	25,627	281,641
Jack in the Box, Inc.	52,238	4,027,550
K12, Inc. *	75,552	2,275,626
Laureate Education, Inc., Class A *	192,024	3,022,458
Lindblad Expeditions Holdings, Inc. *	43,555	706,027
Marriott Vacations Worldwide Corp.	78,717	8,314,877
Monarch Casino & Resort, Inc. *	22,806	973,588
Nathan's Famous, Inc.	5,520	381,156
Noodles & Co. *	29,936	214,042
Papa John's International, Inc. (a)	44,818	2,292,889
Penn National Gaming, Inc. *	223,200	4,836,744
Planet Fitness, Inc., Class A *	179,034	13,552,874
PlayAGS, Inc. *	44,872	1,082,313
Potbelly Corp. *	43,800	389,820
RCI Hospitality Holdings, Inc.	18,724	426,345

₁₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Red Lion Hotels Corp. *	33,245	263,300
Red Robin Gourmet Burgers, Inc. *	26,044	834,189
Red Rock Resorts, Inc., Class A	140,851	3,800,160
Regis Corp. *	61,920	1,159,142
Ruth's Hospitality Group, Inc.	58,787	1,527,286
Scientific Games Corp., Class A *	112,146	2,593,937
SeaWorld Entertainment, Inc. *	110,898	2,952,105
Shake Shack, Inc., Class A *	49,769	3,050,840
Sotheby's *	67,512	2,847,656
Speedway Motorsports, Inc.	23,875	438,106
Strategic Education, Inc.	42,256	6,057,398
Texas Roadhouse, Inc.	137,506	7,426,699
The Cheesecake Factory, Inc.	85,783	4,256,552
The Habit Restaurants, Inc., Class A *	42,369	451,654
Town Sports International Holdings, Inc. *	26,900	97,647
Weight Watchers International, Inc. *	78,167	1,596,170
Wingstop, Inc.	58,793	4,425,349
		159,721,773

Diversified Financials 3.3%
AG Mortgage Investment Trust, Inc.	58,703	1,004,408
Anworth Mortgage Asset Corp.	199,439	835,649
Apollo Commercial Real Estate Finance, Inc.	249,675	4,678,909
Arbor Realty Trust, Inc. (a)	148,265	2,025,300
Ares Commercial Real Estate Corp.	54,456	827,731
Arlington Asset Investment Corp., Class A	58,250	457,263
ARMOUR Residential REIT, Inc.	102,734	1,960,165
Artisan Partners Asset Management, Inc., Class A	97,790	2,771,369
Ashford, Inc. *	1,520	84,208
Associated Capital Group, Inc., Class A (a)	4,800	198,288
B. Riley Financial, Inc.	42,099	763,255
Banco Latinoamericano de Comercio Exterior, S.A., Class E	62,288	1,347,289
Blackstone Mortgage Trust, Inc., Class A	231,221	8,229,155
Blucora, Inc. *	96,635	3,382,225
BrightSphere Investment Group plc	163,853	2,402,085
Cannae Holdings, Inc. *	139,157	3,572,160
Capstead Mortgage Corp.	170,906	1,468,083
Cherry Hill Mortgage Investment Corp.	32,246	556,566
Cohen & Steers, Inc.	45,389	2,276,258
Colony Credit Real Estate, Inc.	169,670	2,636,672
Cowen, Inc. *	55,475	929,206
Curo Group Holdings Corp. *	24,576	327,352
Diamond Hill Investment Group, Inc.	6,684	965,704
Donnelley Financial Solutions, Inc. *	68,363	1,046,638
Dynex Capital, Inc.	137,418	838,250
Elevate Credit, Inc. *	43,861	196,497
Encore Capital Group, Inc. *	52,653	1,487,974
Enova International, Inc. *	66,888	1,834,738
Exantas Capital Corp.	61,352	671,804
EZCORP, Inc., Class A *	105,596	1,147,829
Federated Investors, Inc., Class B	196,521	6,039,090
FGL Holdings	295,523	2,520,811
FirstCash, Inc.	86,398	8,439,357
Focus Financial Partners, Inc., Class A *	53,657	2,012,137
GAIN Capital Holdings, Inc.	56,210	296,227
GAMCO Investors, Inc., Class A	10,071	218,339
Granite Point Mortgage Trust, Inc.	102,474	1,970,575
Great Ajax Corp.	31,800	455,376
Green Dot Corp., Class A *	97,741	6,232,944
Greenhill & Co., Inc.	35,543	736,096
Hamilton Lane, Inc., Class A	33,997	1,661,093
Houlihan Lokey, Inc.	68,760	3,391,243
INTL. FCStone, Inc. *	31,410	1,273,990
Invesco Mortgage Capital, Inc.	260,978	4,259,161

Security	Number of Shares	Value ($)
KKR Real Estate Finance Trust, Inc.	43,968	886,835
Ladder Capital Corp.	187,560	3,263,544
Ladenburg Thalmann Financial Services, Inc.	206,135	756,515
LendingClub Corp. *	646,317	2,055,288
Marlin Business Services Corp.	17,000	370,430
Moelis & Co., Class A	90,582	3,709,333
Nelnet, Inc., Class A	37,692	2,188,021
New York Mortgage Trust, Inc.	344,371	2,169,537
On Deck Capital, Inc. *	103,472	564,957
Oppenheimer Holdings, Inc., Class A	19,926	523,058
Orchid Island Capital, Inc.	96,769	635,772
PennyMac Mortgage Investment Trust	122,210	2,566,410
Piper Jaffray Cos.	29,017	2,338,770
PJT Partners, Inc., Class A	40,652	1,752,914
PRA Group, Inc. *	90,137	2,534,652
Pzena Investment Management, Inc., Class A	34,400	342,280
Ready Capital Corp.	59,217	894,769
Redwood Trust, Inc.	193,096	3,159,051
Regional Management Corp. *	18,310	453,539
Safeguard Scientifics, Inc. *	38,500	440,440
Siebert Financial Corp. *	13,700	143,439
Silvercrest Asset Management Group, Inc., Class A	15,600	226,824
Stifel Financial Corp.	140,700	8,395,569
TPG RE Finance Trust, Inc.	71,162	1,402,603
Value Line, Inc.	1,900	43,985
Virtus Investment Partners, Inc.	13,560	1,662,592
Waddell & Reed Financial, Inc., Class A	151,094	2,829,991
Western Asset Mortgage Capital Corp.	93,376	982,316
Westwood Holdings Group, Inc.	16,567	518,381
WisdomTree Investments, Inc.	235,519	1,695,737
World Acceptance Corp. *	12,466	1,620,455
		141,557,476

Energy 3.5%
Abraxas Petroleum Corp. *	333,304	459,960
Adams Resources & Energy, Inc.	4,584	165,712
Alta Mesa Resources, Inc., Class A *	192,120	42,266
Approach Resources, Inc. *	96,530	32,994
Arch Coal, Inc., Class A	35,315	3,424,849
Archrock, Inc.	257,567	2,604,002
Ardmore Shipping Corp. *	65,290	455,724
Basic Energy Services, Inc. *	36,000	90,720
Berry Petroleum Corp.	112,768	1,281,044
Bonanza Creek Energy, Inc. *	37,764	908,979
Bristow Group, Inc. *(a)	63,782	32,210
C&J Energy Services, Inc. *	129,086	1,813,658
Cactus, Inc., Class A *	76,761	2,786,424
California Resources Corp. *	91,648	1,931,940
Callon Petroleum Co. *	460,775	3,460,420
CARBO Ceramics, Inc. *	38,723	105,327
Carrizo Oil & Gas, Inc. *	177,499	2,275,537
Clean Energy Fuels Corp. *	274,202	860,994
CONSOL Energy, Inc. *	55,735	1,889,417
Covia Holdings Corp. *	65,239	313,800
CVR Energy, Inc.	37,080	1,691,219
Dawson Geophysical Co. *	39,500	110,600
Delek US Holdings, Inc.	164,725	6,104,708
Denbury Resources, Inc. *	926,568	2,066,247
DHT Holdings, Inc.	187,337	998,506
Diamond Offshore Drilling, Inc. *	131,917	1,280,914
DMC Global, Inc.	28,855	1,999,652
Dorian LPG Ltd. *	57,218	458,888
Dril-Quip, Inc. *	72,101	3,140,720
Earthstone Energy, Inc., Class A *	37,690	252,523

₂₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Energy Fuels, Inc. *	175,442	526,326
EP Energy Corp., Class A *	88,300	25,113
Era Group, Inc. *	39,630	382,033
Evolution Petroleum Corp.	49,480	347,844
Exterran Corp. *	64,665	919,536
Forum Energy Technologies, Inc. *	164,959	986,455
Frank's International N.V. *	149,317	872,011
Frontline Ltd. *(a)	154,121	1,262,251
FTS International, Inc. *	66,200	685,170
GasLog Ltd.	81,717	1,277,237
Golar LNG Ltd.	191,641	3,744,665
Goodrich Petroleum Corp. *	18,729	256,400
Green Plains, Inc.	80,805	1,403,583
Gulfport Energy Corp. *	354,277	2,320,514
Halcon Resources Corp. *(a)	276,078	358,901
Hallador Energy Co.	33,360	172,138
Helix Energy Solutions Group, Inc. *	285,425	2,232,024
HighPoint Resources Corp. *	216,854	594,180
Independence Contract Drilling, Inc. *	96,360	272,699
International Seaways, Inc. *	44,827	798,817
ION Geophysical Corp. *	22,100	282,659
Isramco, Inc. *	1,400	162,330
Jagged Peak Energy, Inc. *	129,144	1,365,052
Keane Group, Inc. *	103,762	1,088,463
Key Energy Services, Inc. *	20,930	87,487
KLX Energy Services Holdings, Inc. *	41,020	1,150,611
Laredo Petroleum, Inc. *	319,629	965,280
Liberty Oilfield Services, Inc., Class A	89,395	1,332,879
Lilis Energy, Inc. *	85,300	109,184
Mammoth Energy Services, Inc.	25,335	394,973
Matador Resources Co. *	212,910	4,192,198
Matrix Service Co. *	53,036	1,040,036
McDermott International, Inc. *	362,581	2,933,280
Midstates Petroleum Co., Inc. *	31,359	400,454
Montage Resources Corp. *	12,907	143,526
NACCO Industries, Inc., Class A	7,792	318,615
Natural Gas Services Group, Inc. *	24,300	390,501
NCS Multistage Holdings, Inc. *	18,000	71,460
Newpark Resources, Inc. *	180,975	1,321,118
NextDecade Corp. *(a)	14,700	81,585
Nine Energy Service, Inc. *	30,014	604,182
Noble Corp. plc *	510,476	1,342,552
Nordic American Tankers Ltd.	290,238	621,109
Northern Oil & Gas, Inc. *	393,642	1,043,151
Nuverra Environmental Solutions, Inc. *	2,300	20,102
Oasis Petroleum, Inc. *	545,134	3,325,317
Oceaneering International, Inc. *	199,703	3,834,298
Oil States International, Inc. *	121,949	2,356,055
Overseas Shipholding Group, Inc., Class A *	119,511	217,510
Panhandle Oil & Gas, Inc., Class A	30,730	460,950
Par Pacific Holdings, Inc. *	64,405	1,258,474
PDC Energy, Inc. *	134,693	5,857,799
Peabody Energy Corp.	158,571	4,562,088
Penn Virginia Corp. *	25,401	1,140,505
Pioneer Energy Services Corp. *	162,212	282,249
Profire Energy, Inc. *	44,000	69,520
ProPetro Holding Corp. *	143,057	3,165,851
Quintana Energy Services, Inc. *	10,200	48,552
Renewable Energy Group, Inc. *	74,877	1,806,033
REX American Resources Corp. *	11,411	964,344
RigNet, Inc. *	28,854	270,939
Ring Energy, Inc. *	112,699	583,781
Rosehill Resources, Inc. *	2,300	10,833
SandRidge Energy, Inc. *	63,258	528,837
Scorpio Tankers, Inc.	92,623	2,387,821
SEACOR Holdings, Inc. *	34,293	1,527,410
SEACOR Marine Holdings, Inc. *	33,847	459,642

Security	Number of Shares	Value ($)
Select Energy Services, Inc., Class A *	91,663	1,055,958
SemGroup Corp., Class A	161,003	2,102,699
Ship Finance International Ltd.	162,502	2,073,526
SilverBow Resources, Inc. *	14,100	255,774
Smart Sand, Inc. *	48,150	189,230
Solaris Oilfield Infrastructure, Inc., Class A	53,479	908,608
Southwestern Energy Co. *	1,192,475	4,710,276
SRC Energy, Inc. *	488,445	3,003,937
Superior Energy Services, Inc. *	310,359	1,114,189
Talos Energy, Inc. *	41,539	1,233,708
Teekay Corp. (a)	135,000	561,600
Teekay Tankers Ltd., Class A *	390,532	425,680
Tellurian, Inc. *(a)	171,888	1,632,936
TETRA Technologies, Inc. *	253,261	602,761
Tidewater, Inc. *	60,703	1,365,818
Ultra Petroleum Corp. *	303,100	127,423
Unit Corp. *	106,672	1,446,472
Uranium Energy Corp. *(a)	366,940	517,385
US Silica Holdings, Inc.	157,621	2,493,564
W&T Offshore, Inc. *	188,101	1,200,084
World Fuel Services Corp.	135,948	4,193,996
Zion Oil & Gas, Inc. *	122,348	68,307
		150,343,377

Food & Staples Retailing 0.7%
BJ's Wholesale Club Holdings, Inc. *	258,414	7,326,037
Ingles Markets, Inc., Class A	28,931	794,156
Natural Grocers by Vitamin Cottage, Inc. *	17,200	212,936
Performance Food Group Co. *	206,049	8,437,707
PriceSmart, Inc.	44,768	2,677,574
Rite Aid Corp. *(a)	108,370	992,669
Smart & Final Stores, Inc. *	44,995	293,817
SpartanNash, Co.	72,304	1,169,156
The Andersons, Inc.	54,556	1,783,981
The Chefs' Warehouse, Inc. *	44,264	1,446,547
United Natural Foods, Inc. *	103,900	1,342,388
Village Super Market, Inc., Class A	17,018	499,989
Weis Markets, Inc.	19,538	821,573
		27,798,530

Food, Beverage & Tobacco 1.6%
22nd Century Group, Inc. *(a)	230,180	504,094
Alico, Inc.	5,524	153,457
B&G Foods, Inc. (a)	132,930	3,456,180
Cal-Maine Foods, Inc.	63,186	2,597,576
Calavo Growers, Inc.	32,217	3,086,711
Castle Brands, Inc. *	201,300	128,751
Celsius Holdings, Inc. *(a)	43,000	178,020
Coca-Cola Consolidated, Inc.	9,502	3,088,435
Craft Brew Alliance, Inc. *	25,482	359,551
Darling Ingredients, Inc. *	332,298	7,247,419
Dean Foods Co.	184,411	313,499
Farmer Brothers Co. *	20,644	416,183
Fresh Del Monte Produce, Inc.	61,758	1,822,479
Freshpet, Inc. *	53,154	2,373,858
Hostess Brands, Inc. *	200,639	2,688,563
J&J Snack Foods Corp.	30,506	4,794,933
John B. Sanfilippo & Son, Inc.	17,409	1,255,363
Lancaster Colony Corp.	38,259	5,689,496
Landec Corp. *	48,683	511,658
Limoneira Co.	30,097	687,416
MGP Ingredients, Inc.	26,875	2,361,506
National Beverage Corp.	23,860	1,336,160
Primo Water Corp. *	67,763	1,067,267
Pyxus International, Inc. *(a)	17,377	396,717
Sanderson Farms, Inc.	40,200	6,095,526

₂₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Seneca Foods Corp., Class A *	14,490	358,628
The Boston Beer Co., Inc., Class A *	16,725	5,184,917
The Simply Good Foods Co. *	123,791	2,780,346
Tootsie Roll Industries, Inc.	34,074	1,323,093
Turning Point Brands, Inc.	16,327	698,306
Universal Corp.	49,852	2,685,029
Vector Group Ltd.	207,159	1,974,225
		67,615,362

Health Care Equipment & Services 6.2%
AAC Holdings, Inc. *(a)	26,363	42,444
Accuray, Inc. *	175,921	728,313
Addus HomeCare Corp. *	19,674	1,335,865
Allscripts Healthcare Solutions, Inc. *	351,353	3,467,854
Amedisys, Inc. *	54,020	6,904,836
American Renal Associates Holdings, Inc. *	27,540	189,475
AMN Healthcare Services, Inc. *	93,555	4,870,473
AngioDynamics, Inc. *	73,422	1,508,088
Antares Pharma, Inc. *	293,600	789,784
Apollo Medical Holdings, Inc. *	6,306	122,021
AtriCure, Inc. *	74,966	2,250,479
Atrion Corp.	2,876	2,530,880
Avanos Medical, Inc. *	94,884	3,980,384
AxoGen, Inc. *	68,626	1,611,339
Axonics Modulation Technologies, Inc. *	13,550	273,710
BioScrip, Inc. *	251,062	482,039
BioTelemetry, Inc. *	66,922	3,640,557
Brookdale Senior Living, Inc. *	377,212	2,331,170
Capital Senior Living Corp. *	52,050	218,610
Cardiovascular Systems, Inc. *	68,724	2,442,451
Castlight Health, Inc., Class B *	161,465	602,264
Cerus Corp. *	270,356	1,657,282
Community Health Systems, Inc. *	175,170	602,585
Computer Programs & Systems, Inc.	23,667	719,240
CONMED Corp.	50,921	4,075,208
CorVel Corp. *	18,196	1,306,473
Cross Country Healthcare, Inc. *	73,057	515,052
CryoLife, Inc. *	71,718	2,198,874
CryoPort, Inc. *(a)	55,064	774,750
Cutera, Inc. *	28,232	500,836
CytoSorbents Corp. *	61,831	445,183
Diplomat Pharmacy, Inc. *	114,422	638,475
ElectroCore, Inc. *	24,895	155,594
Endologix, Inc. *	21,209	136,162
Enzo Biochem, Inc. *	93,733	325,254
Evolent Health, Inc., Class A *	138,088	1,871,092
FONAR Corp. *	13,161	261,114
Genesis Healthcare, Inc. *	120,745	156,969
GenMark Diagnostics, Inc. *	105,208	761,706
Glaukos Corp. *	68,967	4,974,590
Globus Medical, Inc., Class A *	150,165	6,770,940
Guardant Health, Inc. *	29,396	1,925,732
Haemonetics Corp. *	103,894	9,067,868
HealthEquity, Inc. *	109,503	7,418,828
HealthStream, Inc. *	52,021	1,361,910
Helius Medical Technologies, Inc. *(a)	34,800	85,260
Heska Corp. *	13,847	1,075,358
HMS Holdings Corp. *	167,919	5,109,775
Inogen, Inc. *	36,220	3,162,006
Inovalon Holdings, Inc., Class A *	139,316	1,884,946
Inspire Medical Systems, Inc. *	30,034	1,552,457
Integer Holdings Corp. *	63,154	4,363,310
IntriCon Corp. *	14,944	349,241
Invacare Corp.	67,591	500,173
iRadimed Corp. *	7,540	188,575
iRhythm Technologies, Inc. *	48,633	3,711,184

Security	Number of Shares	Value ($)
Lantheus Holdings, Inc. *	74,831	1,807,917
LeMaitre Vascular, Inc.	31,918	921,792
LHC Group, Inc. *	59,588	6,620,823
LivaNova plc *	98,425	6,780,498
Magellan Health, Inc. *	48,891	3,422,370
Medidata Solutions, Inc. *	117,003	10,570,051
Meridian Bioscience, Inc.	84,681	974,678
Merit Medical Systems, Inc. *	107,775	6,054,800
Mesa Laboratories, Inc.	6,836	1,618,013
NantHealth, Inc. *(a)	30,500	21,045
National HealthCare Corp.	24,791	1,869,985
National Research Corp., Class A	22,897	906,263
Natus Medical, Inc. *	65,893	1,763,297
Neogen Corp. *	101,727	6,170,760
Neuronetics, Inc. *	25,839	430,736
Nevro Corp. *	58,898	3,634,596
NextGen Healthcare, Inc. *	109,632	2,059,985
Novocure Ltd. *	148,705	6,553,429
NuVasive, Inc. *	103,909	6,296,885
Nuvectra Corp. *	33,570	316,901
Omnicell, Inc. *	78,288	6,291,224
OraSure Technologies, Inc. *	121,433	1,148,756
Orthofix Medical, Inc. *	35,442	1,941,867
OrthoPediatrics Corp. *	15,782	642,959
Owens & Minor, Inc.	123,127	419,863
Oxford Immunotec Global plc *	52,600	853,698
Patterson Cos., Inc.	166,263	3,631,184
PetIQ, Inc. *	31,894	876,128
Pulse Biosciences, Inc. *(a)	22,140	354,683
Quidel Corp. *	69,374	4,435,774
Quorum Health Corp. *	53,300	109,265
R1 RCM, Inc. *	208,666	2,184,733
RadNet, Inc. *	80,180	970,980
Rockwell Medical, Inc. *(a)	93,610	450,264
RTI Surgical Holdings, Inc. *	113,346	613,202
SeaSpine Holdings Corp. *	30,847	454,376
Select Medical Holdings Corp. *	220,440	3,167,723
Senseonics Holdings, Inc. *(a)	176,516	411,282
SI-BONE, Inc. *	16,230	275,910
Sientra, Inc. *	48,382	407,376
Simulations Plus, Inc.	23,689	533,713
STAAR Surgical Co. *	88,606	2,877,923
Surgery Partners, Inc. *	39,118	423,648
Surmodics, Inc. *	26,458	1,149,336
Tabula Rasa HealthCare, Inc. *	35,921	1,913,152
Tactile Systems Technology, Inc. *	35,478	1,765,385
Tandem Diabetes Care, Inc. *	103,004	6,325,476
Teladoc Health, Inc. *	135,517	7,708,207
Tenet Healthcare Corp. *	169,775	3,718,073
The Ensign Group, Inc.	100,862	5,196,410
The Providence Service Corp. *	22,746	1,508,742
Tivity Health, Inc. *	96,652	2,089,616
TransEnterix, Inc. *(a)	337,536	675,072
Triple-S Management Corp., Class B *	43,681	992,432
U.S. Physical Therapy, Inc.	25,261	2,942,654
Utah Medical Products, Inc.	7,060	595,864
Vapotherm, Inc. *	9,090	153,894
Varex Imaging Corp. *	76,910	2,525,724
ViewRay, Inc. *	129,728	902,907
Vocera Communications, Inc. *	60,907	1,939,888
Wright Medical Group N.V. *	252,101	7,454,627
		262,755,852

Household & Personal Products 0.5%
Central Garden & Pet Co. *	21,424	578,020
Central Garden & Pet Co., Class A *	83,295	2,039,062
Edgewell Personal Care Co. *	109,122	4,499,100

₂₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
elf Beauty, Inc. *	47,046	601,718
Inter Parfums, Inc.	35,070	2,542,224
Medifast, Inc.	23,583	3,459,390
Natural Health Trends Corp. (a)	14,970	173,053
Nature's Sunshine Products, Inc. *	18,214	163,926
Oil-Dri Corp. of America	9,987	317,686
Revlon, Inc., Class A *(a)	17,022	363,420
USANA Health Sciences, Inc. *	25,645	2,140,332
WD-40 Co.	27,632	4,649,084
		21,527,015

Insurance 2.7%
Ambac Financial Group, Inc. *	91,765	1,716,006
American Equity Investment Life Holding Co.	181,020	5,323,798
AMERISAFE, Inc.	38,965	2,307,507
Argo Group International Holdings Ltd.	65,572	5,119,206
Citizens, Inc. *(a)	99,061	669,652
CNO Financial Group, Inc.	332,920	5,509,826
Crawford & Co., Class B	20,941	184,700
Donegal Group, Inc., Class A	18,452	249,102
eHealth, Inc. *	44,234	2,686,773
EMC Insurance Group, Inc.	19,080	612,659
Employers Holdings, Inc.	65,308	2,803,019
Enstar Group Ltd. *	24,393	4,323,903
FBL Financial Group, Inc., Class A	19,871	1,241,341
FedNat Holding Co.	22,366	363,895
Genworth Financial, Inc., Class A *	1,023,298	3,878,299
Global Indemnity Ltd.	16,555	509,894
Goosehead Insurance, Inc., Class A	20,047	610,832
Greenlight Capital Re Ltd., Class A *	57,521	689,102
Hallmark Financial Services, Inc. *	26,732	306,883
HCI Group, Inc.	14,512	618,501
Health Insurance Innovations, Inc., Class A *(a)	25,788	601,376
Heritage Insurance Holdings, Inc.	40,062	546,446
Horace Mann Educators Corp.	83,644	3,226,986
Independence Holding Co.	9,248	354,013
Investors Title Co.	2,878	486,152
James River Group Holdings Ltd.	52,253	2,206,122
Kemper Corp.	106,753	9,594,960
Kingstone Cos., Inc.	18,310	212,579
Kinsale Capital Group, Inc.	39,622	2,876,557
Maiden Holdings Ltd.	131,188	85,731
MBIA, Inc. *	180,304	1,743,540
National General Holdings Corp.	131,369	3,238,246
National Western Life Group, Inc., Class A	4,631	1,235,180
NI Holdings, Inc. *	18,920	303,288
Primerica, Inc.	87,259	11,368,975
ProAssurance Corp.	107,664	4,040,630
Protective Insurance Corp., Class B	18,870	306,638
RLI Corp.	79,376	6,455,650
Safety Insurance Group, Inc.	29,755	2,764,835
Selective Insurance Group, Inc.	117,482	8,377,641
State Auto Financial Corp.	33,987	1,142,983
Stewart Information Services Corp.	47,371	2,013,741
The Navigators Group, Inc.	42,282	2,957,203
Third Point Reinsurance Ltd. *	149,950	1,740,920
Tiptree, Inc.	53,210	303,297
Trupanion, Inc. *(a)	51,751	1,697,433
United Fire Group, Inc.	43,005	1,875,448
United Insurance Holdings Corp.	40,963	627,553
Universal Insurance Holdings, Inc.	64,476	1,920,740
		114,029,761

Security	Number of Shares	Value ($)
Materials 3.8%
Advanced Emissions Solutions, Inc. (a)	39,022	440,949
AdvanSix, Inc. *	60,584	1,831,454
AgroFresh Solutions, Inc. *	59,500	189,805
AK Steel Holding Corp. *	635,804	1,538,646
Allegheny Technologies, Inc. *	254,086	6,331,823
American Vanguard Corp.	58,085	914,258
Amyris, Inc. *(a)	68,297	305,971
Balchem Corp.	64,896	6,587,593
Boise Cascade Co.	78,675	2,178,511
Carpenter Technology Corp.	94,828	4,710,107
Century Aluminum Co. *	99,488	836,694
Chase Corp.	14,720	1,378,822
Clearwater Paper Corp. *	32,283	651,148
Cleveland-Cliffs, Inc.	591,639	5,910,474
Coeur Mining, Inc. *	384,578	1,388,327
Commercial Metals Co.	237,087	4,099,234
Compass Minerals International, Inc.	69,260	3,974,831
Ferro Corp. *	167,525	2,993,672
Ferroglobe Representation & Warranty Insurance *(b)	108,500	—
Flotek Industries, Inc. *	110,660	395,056
Forterra, Inc. *(a)	37,450	173,768
FutureFuel Corp.	53,030	779,011
GCP Applied Technologies, Inc. *	145,672	4,193,897
Gold Resource Corp.	103,205	377,730
Greif, Inc., Class A	51,625	2,040,220
Greif, Inc., Class B	11,444	556,751
H.B. Fuller Co.	102,404	5,014,724
Hawkins, Inc.	19,583	722,809
Haynes International, Inc.	25,888	836,441
Hecla Mining Co.	925,331	1,943,195
Ingevity Corp. *	85,922	9,881,889
Innophos Holdings, Inc.	39,210	1,262,170
Innospec, Inc.	49,183	4,171,702
Intrepid Potash, Inc. *	196,158	729,708
Kaiser Aluminum Corp.	32,711	3,218,762
Koppers Holdings, Inc. *	40,801	1,091,019
Kraton Corp. *	62,477	2,050,495
Kronos Worldwide, Inc.	46,526	632,754
Livent Corp. *	301,433	3,249,448
Louisiana-Pacific Corp.	287,116	7,192,256
LSB Industries, Inc. *	45,165	264,215
Marrone Bio Innovations, Inc. *(a)	101,700	163,737
Materion Corp.	40,570	2,354,277
Minerals Technologies, Inc.	71,685	4,499,668
Myers Industries, Inc.	71,101	1,271,997
Neenah, Inc.	33,724	2,288,173
Olympic Steel, Inc.	19,559	317,247
OMNOVA Solutions, Inc. *	88,543	655,218
P.H. Glatfelter Co.	87,722	1,384,253
PolyOne Corp.	161,577	4,465,988
PQ Group Holdings, Inc. *	74,461	1,177,228
Quaker Chemical Corp.	26,439	5,917,577
Ramaco Resources, Inc. *	10,400	69,888
Rayonier Advanced Materials, Inc.	103,218	1,531,755
Ryerson Holding Corp. *	31,700	274,205
Schnitzer Steel Industries, Inc., Class A	52,542	1,246,296
Schweitzer-Mauduit International, Inc.	62,119	2,209,573
Sensient Technologies Corp.	86,289	6,050,585
Stepan Co.	41,132	3,806,355
Summit Materials, Inc., Class A *	226,118	3,961,587
SunCoke Energy, Inc. *	129,738	1,117,044
Synalloy Corp.	16,565	292,372
TimkenSteel Corp. *	80,758	818,886
Trecora Resources *	40,200	375,870
Tredegar Corp.	52,150	939,743

₂₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Trinseo S.A.	87,175	3,918,516
Tronox Holdings plc, Class A *	188,780	2,669,349
UFP Technologies, Inc. *	13,677	497,843
United States Lime & Minerals, Inc.	3,900	315,588
Universal Stainless & Alloy Products, Inc. *	17,543	252,444
US Concrete, Inc. *	32,211	1,518,104
Valhi, Inc.	49,094	123,226
Verso Corp., Class A *	70,512	1,573,828
Warrior Met Coal, Inc.	87,109	2,700,379
Worthington Industries, Inc.	83,079	3,333,960
		161,133,098

Media & Entertainment 2.6%
AMC Entertainment Holdings, Inc., Class A	105,071	1,592,876
Beasley Broadcasting Group, Inc., Class A	15,050	55,234
Boston Omaha Corp., Class A *	10,547	248,382
Cardlytics, Inc. *	11,166	174,190
Care.com, Inc. *	39,747	665,762
Cargurus, Inc. *	101,516	4,135,762
Cars.com, Inc. *	139,464	2,902,246
Central European Media Enterprises Ltd., Class A *	179,409	710,460
Clear Channel Outdoor Holdings, Inc., Class A *	77,076	376,902
Daily Journal Corp. *	2,181	486,363
Emerald Expositions Events, Inc.	51,158	718,770
Entercom Communications Corp., Class A	262,051	1,802,911
Entravision Communications Corp., Class A	132,515	380,318
Eros International plc *	67,824	588,712
Fluent, Inc. *	68,506	481,597
Gannett Co., Inc.	229,131	2,137,792
Glu Mobile, Inc. *	227,378	2,487,515
Gray Television, Inc. *	162,263	3,801,822
Hemisphere Media Group, Inc. *	35,700	521,577
IMAX Corp. *	108,242	2,638,940
Liberty Latin America Ltd., Class A *	89,192	1,866,789
Liberty Latin America Ltd., Class C *	228,016	4,751,853
Liberty Media Corp. - Liberty Braves, Class A *	20,631	585,095
Liberty Media Corp. - Liberty Braves, Class C *	71,986	2,026,406
Liberty TripAdvisor Holdings, Inc., Class A *	146,384	2,157,700
LiveXLive Media, Inc. *(a)	57,140	283,986
Loral Space & Communications, Inc. *	25,768	948,778
MDC Partners, Inc., Class A *	113,743	238,860
Meredith Corp.	80,148	4,728,732
MSG Networks, Inc., Class A *	119,624	2,754,941
National CineMedia, Inc.	153,758	1,073,231
New Media Investment Group, Inc.	122,765	1,312,358
Nexstar Media Group, Inc., Class A	90,751	10,622,405
QuinStreet, Inc. *	90,784	1,295,488
Reading International, Inc., Class A *	33,850	516,551
Rosetta Stone, Inc. *	40,663	1,025,521
Saga Communications, Inc., Class A	7,830	251,186
Scholastic Corp.	57,534	2,294,456
Sinclair Broadcast Group, Inc., Class A	136,737	6,261,187
TechTarget, Inc. *	41,610	694,471
TEGNA, Inc.	438,519	6,981,222
The E.W. Scripps Co., Class A	91,265	2,079,929
The Marcus Corp.	40,175	1,511,384
The Meet Group, Inc. *	146,077	812,188
The New York Times Co., Class A	266,445	8,832,652
Travelzoo *	9,000	158,130

Security	Number of Shares	Value ($)
Tribune Publishing Co. *	35,823	385,455
TrueCar, Inc. *	189,448	1,220,045
WideOpenWest, Inc. *	61,670	492,743
World Wrestling Entertainment, Inc., Class A	86,936	7,289,584
Yelp, Inc. *	164,308	6,582,178
		108,943,635

Pharmaceuticals, Biotechnology & Life Sciences 8.8%
Abeona Therapeutics, Inc. *	63,943	492,361
ACADIA Pharmaceuticals, Inc. *	229,031	5,508,196
Accelerate Diagnostics, Inc. *(a)	52,704	1,027,728
Acceleron Pharma, Inc. *	87,876	3,579,189
Achillion Pharmaceuticals, Inc. *	273,913	810,782
Aclaris Therapeutics, Inc. *	69,640	438,732
Acorda Therapeutics, Inc. *	89,134	931,450
Adamas Pharmaceuticals, Inc. *(a)	42,547	268,897
ADMA Biologics, Inc. *(a)	41,302	191,228
Aduro Biotech, Inc. *	130,400	533,336
Adverum Biotechnologies, Inc. *	113,955	735,010
Aeglea BioTherapeutics, Inc. *	39,266	268,972
Aerie Pharmaceuticals, Inc. *	71,841	2,740,734
Agenus, Inc. *	186,928	480,405
AgeX Therapeutics, Inc. *	19,423	88,569
Aimmune Therapeutics, Inc. *	89,032	1,793,104
Akcea Therapeutics, Inc. *(a)	26,688	669,602
Akebia Therapeutics, Inc. *	172,204	1,040,112
Akorn, Inc. *	188,731	509,574
Albireo Pharma, Inc. *	18,341	631,297
Alder Biopharmaceuticals, Inc. *	117,086	1,591,199
Aldeyra Therapeutics, Inc. *	41,710	344,942
Alector, Inc. *	11,378	225,967
Allakos, Inc. *	28,519	1,118,230
Allena Pharmaceuticals, Inc. *	21,600	133,272
Allogene Therapeutics, Inc. *(a)	44,571	1,334,901
AMAG Pharmaceuticals, Inc. *	68,529	764,784
Amicus Therapeutics, Inc. *	382,660	5,104,684
Amneal Pharmaceuticals, Inc. *	176,813	2,275,583
Amphastar Pharmaceuticals, Inc. *	70,355	1,518,964
Ampio Pharmaceuticals, Inc. *	211,320	120,410
AnaptysBio, Inc. *	42,805	3,112,780
ANI Pharmaceuticals, Inc. *	16,203	1,150,089
Anika Therapeutics, Inc. *	28,552	909,381
Apellis Pharmaceuticals, Inc. *	72,962	1,445,377
Aptinyx, Inc. *	25,190	96,982
Aquestive Therapeutics, Inc. *	23,379	133,494
Aratana Therapeutics, Inc. *	91,160	428,452
Arbutus Biopharma Corp. *	73,368	197,360
Arcus Biosciences, Inc. *	63,655	618,727
Ardelyx, Inc. *	90,736	308,502
Arena Pharmaceuticals, Inc. *	100,453	4,595,725
ArQule, Inc. *	220,828	1,318,343
Array BioPharma, Inc. *	426,902	9,652,254
Arrowhead Pharmaceuticals, Inc. *	190,103	3,418,052
Arvinas Holding Co. LLC *	15,490	323,276
Assembly Biosciences, Inc. *	42,215	666,153
Assertio Therapeutics, Inc. *	121,417	506,309
Atara Biotherapeutics, Inc. *	85,025	2,856,840
Athenex, Inc. *	87,529	864,787
Athersys, Inc. *(a)	240,352	372,546
Audentes Therapeutics, Inc. *	75,237	2,843,206
AVEO Pharmaceuticals, Inc. *(a)	201,030	185,531
Avid Bioservices, Inc. *	103,254	494,587
Avrobio, Inc. *	25,673	482,909
Bellicum Pharmaceuticals, Inc. *	88,014	268,443
BioCryst Pharmaceuticals, Inc. *	219,821	1,633,270

₂₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Biohaven Pharmaceutical Holding Co., Ltd. *	63,247	3,785,333
BioSpecifics Technologies Corp. *	11,371	761,857
BioTime, Inc. *(a)	233,687	289,772
Blueprint Medicines Corp. *	91,345	6,906,595
Calithera Biosciences, Inc. *	68,159	419,859
Calyxt, Inc. *(a)	11,460	182,787
Cambrex Corp. *	67,571	2,906,904
Cara Therapeutics, Inc. *	65,777	1,255,025
CareDx, Inc. *	70,840	1,927,556
CASI Pharmaceuticals, Inc. *(a)	105,221	343,020
Catalyst Biosciences, Inc. *	22,100	192,712
Catalyst Pharmaceuticals, Inc. *	197,984	1,136,428
Celcuity, Inc. *	10,900	245,250
Cellular Biomedicine Group, Inc. *	24,008	414,858
ChemoCentryx, Inc. *	45,247	600,428
Chimerix, Inc. *	102,059	275,559
ChromaDex Corp. *(a)	78,680	350,126
Clearside Biomedical, Inc. *(a)	52,100	64,604
Clovis Oncology, Inc. *	96,999	1,772,172
Codexis, Inc. *	105,225	2,072,933
Cohbar, Inc. *	50,453	123,610
Coherus Biosciences, Inc. *	104,999	1,671,584
Collegium Pharmaceutical, Inc. *	59,504	828,891
Concert Pharmaceuticals, Inc. *	41,670	428,368
Constellation Pharmaceuticals, Inc. *	32,312	424,903
Corbus Pharmaceuticals Holdings, Inc. *(a)	110,240	787,114
Corcept Therapeutics, Inc. *	197,338	2,443,044
Corvus Pharmaceuticals, Inc. *	25,900	109,557
Crinetics Pharmaceuticals, Inc. *	17,428	452,257
CTI BioPharma Corp. *(a)	95,500	93,571
Cue Biopharma, Inc. *(a)	38,898	330,244
Cyclerion Therapeutics, Inc. *	28,061	427,369
Cymabay Therapeutics, Inc. *	120,330	1,541,427
Cytokinetics, Inc. *	94,285	831,594
CytomX Therapeutics, Inc. *	91,429	869,490
Deciphera Pharmaceuticals, Inc. *	18,210	418,830
Denali Therapeutics, Inc. *	91,702	2,243,948
Dermira, Inc. *	71,700	795,153
Dicerna Pharmaceuticals, Inc. *	109,268	1,416,113
Dova Pharmaceuticals, Inc. *(a)	22,000	202,400
Durect Corp. *	301,576	166,319
Dynavax Technologies Corp. *	124,347	826,908
Eagle Pharmaceuticals, Inc. *	21,557	1,108,245
Editas Medicine, Inc. *	94,068	2,328,183
Eidos Therapeutics, Inc. *(a)	32,765	858,771
Eloxx Pharmaceuticals, Inc. *	46,319	553,049
Emergent BioSolutions, Inc. *	92,029	4,756,059
Enanta Pharmaceuticals, Inc. *	33,863	2,952,515
Endo International plc *	455,390	3,415,425
Epizyme, Inc. *	120,400	1,494,164
Equillium, Inc. *	10,650	66,456
Esperion Therapeutics, Inc. *(a)	46,193	1,990,918
Evelo Biosciences, Inc. *(a)	27,130	227,485
Evolus, Inc. *(a)	18,862	459,856
Fate Therapeutics, Inc. *	122,732	2,061,898
Fennec Pharmaceuticals, Inc. *	27,211	121,089
FibroGen, Inc. *	154,276	7,209,318
Five Prime Therapeutics, Inc. *	68,479	758,747
Flexion Therapeutics, Inc. *	68,117	722,040
Fluidigm Corp. *	65,845	904,710
Fortress Biotech, Inc. *(a)	75,653	120,288
Forty Seven, Inc. *	28,482	540,873
G1 Therapeutics, Inc. *	46,333	991,526
Genomic Health, Inc. *	42,357	2,724,826
Geron Corp. *(a)	348,068	633,484
Global Blood Therapeutics, Inc. *	108,258	5,997,493

Security	Number of Shares	Value ($)
GlycoMimetics, Inc. *	70,362	856,306
Gossamer Bio, Inc. *	22,395	379,819
Gritstone Oncology, Inc. *(a)	13,660	143,567
GTx, Inc. *(a)	10,550	11,500
Halozyme Therapeutics, Inc. *	252,773	4,077,229
Harpoon Therapeutics, Inc. *	5,538	65,016
Harvard Bioscience, Inc. *	74,682	289,019
Heron Therapeutics, Inc. *	140,230	3,040,186
Homology Medicines, Inc. *	34,913	751,328
Horizon Pharma plc *	365,253	9,324,909
Idera Pharmaceuticals, Inc. *	35,991	108,333
Immunic, Inc. *	1,415	19,640
ImmunoGen, Inc. *	291,747	697,275
Immunomedics, Inc. *	303,413	4,860,676
Innovate Biopharmaceuticals, Inc. *(a)	34,500	55,545
Innoviva, Inc. *	139,795	1,961,324
Inovio Pharmaceuticals, Inc. *(a)	178,593	671,510
Insmed, Inc. *	155,378	4,729,706
Insys Therapeutics, Inc. *(a)	53,079	228,240
Intellia Therapeutics, Inc. *	68,852	1,058,944
Intercept Pharmaceuticals, Inc. *	44,469	3,832,338
Intersect ENT, Inc. *	60,648	1,970,454
Intra-Cellular Therapies, Inc. *	92,197	1,214,235
Intrexon Corp. *(a)	151,066	654,116
Invitae Corp. *	144,113	3,403,949
Iovance Biotherapeutics, Inc. *	213,306	2,431,688
Ironwood Pharmaceuticals, Inc. *	286,274	3,403,798
Jounce Therapeutics, Inc. *	31,400	178,352
Kadmon Holdings, Inc. *	205,435	482,772
Kala Pharmaceuticals, Inc. *	32,134	249,360
Karyopharm Therapeutics, Inc. *	96,671	451,454
Kezar Life Sciences, Inc. *	25,483	480,864
Kindred Biosciences, Inc. *	71,822	638,498
Kiniksa Pharmaceuticals Ltd., Class A *	23,992	358,201
Kodiak Sciences, Inc. *	19,210	142,538
Kura Oncology, Inc. *	56,508	855,531
La Jolla Pharmaceutical Co. *	41,455	333,713
Lannett Co., Inc. *(a)	61,043	469,421
Lexicon Pharmaceuticals, Inc. *	85,580	496,364
Ligand Pharmaceuticals, Inc. *	42,331	5,327,356
Liquidia Technologies, Inc. *	14,417	137,106
LogicBio Therapeutics, Inc. *	16,200	220,482
Luminex Corp.	84,047	1,917,112
MacroGenics, Inc. *	78,755	1,320,721
Madrigal Pharmaceuticals, Inc. *	14,070	1,492,546
Magenta Therapeutics, Inc. *	29,189	420,614
Mallinckrodt plc *	167,372	2,587,571
MannKind Corp. *(a)	328,950	506,583
Marinus Pharmaceuticals, Inc. *	95,501	471,775
MediciNova, Inc. *(a)	79,802	893,782
Medpace Holdings, Inc. *	44,007	2,471,873
MeiraGTx Holdings plc *	24,395	476,434
Melinta Therapeutics, Inc. *(a)	13,108	57,413
Menlo Therapeutics, Inc. *	18,240	131,328
Mersana Therapeutics, Inc. *	24,500	120,540
Minerva Neurosciences, Inc. *	59,981	442,060
Miragen Therapeutics, Inc. *	48,000	140,640
Mirati Therapeutics, Inc. *	43,234	2,571,991
Molecular Templates, Inc. *	25,530	187,646
Momenta Pharmaceuticals, Inc. *	197,240	2,759,388
Mustang Bio, Inc. *	31,300	129,895
MyoKardia, Inc. *	69,145	3,317,577
Myriad Genetics, Inc. *	139,492	4,391,208
NanoString Technologies, Inc. *	53,107	1,379,189
NantKwest, Inc. *(a)	57,600	64,512
Natera, Inc. *	67,744	1,294,588
NeoGenomics, Inc. *	166,481	3,467,799
Neon Therapeutics, Inc. *	30,308	186,697

₂₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Neos Therapeutics, Inc. *	94,530	227,817
NewLink Genetics Corp. *	62,762	107,323
Novavax, Inc. *	753,795	400,491
Nymox Pharmaceutical Corp. *(a)	60,400	110,532
Ocular Therapeutix, Inc. *	73,073	274,024
Odonate Therapeutics, Inc. *(a)	14,103	277,265
Omeros Corp. *(a)	94,207	1,774,860
OPKO Health, Inc. *	649,324	1,551,884
Optinose, Inc. *(a)	39,034	388,779
Organovo Holdings, Inc. *(a)	230,021	230,021
Osmotica Pharmaceuticals plc *	19,680	79,114
Ovid therapeutics, Inc. *	22,600	46,104
Pacific Biosciences of California, Inc. *	278,232	2,056,134
Pacira BioSciences, Inc. *	80,465	3,204,116
Palatin Technologies, Inc. *(a)	414,510	513,992
Paratek Pharmaceuticals, Inc. *(a)	66,998	369,159
PDL BioPharma, Inc. *	286,865	938,049
Pfenex, Inc. *	58,647	339,566
Phibro Animal Health Corp., Class A	41,163	1,428,768
Pieris Pharmaceuticals, Inc. *	110,068	329,103
PolarityTE, Inc. *(a)	21,404	193,492
Portola Pharmaceuticals, Inc. *	132,198	4,666,589
Prestige Consumer Healthcare, Inc. *	105,046	3,090,453
Principia Biopharma, Inc. *	11,310	338,282
Progenics Pharmaceuticals, Inc. *	171,094	879,423
Proteostasis Therapeutics, Inc. *	67,220	73,942
Prothena Corp. plc *	81,310	845,624
PTC Therapeutics, Inc. *	104,432	3,907,845
Puma Biotechnology, Inc. *	59,059	1,896,975
Quanterix Corp. *	17,832	405,143
Ra Pharmaceuticals, Inc. *	37,661	836,074
Radius Health, Inc. *	82,612	1,819,116
Reata Pharmaceuticals, Inc., Class A *	38,099	2,989,248
Recro Pharma, Inc. *	37,570	327,986
REGENXBIO, Inc. *	65,172	3,284,669
Repligen Corp. *	79,107	5,330,230
Replimune Group, Inc. *	24,007	402,597
resTORbio, Inc. *	14,800	119,140
Retrophin, Inc. *	83,079	1,585,147
Revance Therapeutics, Inc. *	77,265	1,022,989
Rhythm Pharmaceuticals, Inc. *	30,465	770,155
Rigel Pharmaceuticals, Inc. *	344,780	768,859
Rocket Pharmaceuticals, Inc. *	47,903	889,080
Rubius Therapeutics, Inc. *	68,556	1,199,044
Sangamo Therapeutics, Inc. *	204,282	2,388,057
Savara, Inc. *	59,311	633,441
Scholar Rock Holding Corp. *	30,043	639,315
scPharmaceuticals, Inc. *	13,400	43,550
Selecta Biosciences, Inc. *	70,776	152,168
Seres Therapeutics, Inc. *	41,037	268,382
Sienna Biopharmaceuticals, Inc. *	30,497	56,724
SIGA Technologies, Inc. *	108,707	569,625
Solid Biosciences, Inc. *	24,264	220,317
Sorrento Therapeutics, Inc. *(a)	234,254	855,027
Spark Therapeutics, Inc. *	63,582	6,783,564
Spectrum Pharmaceuticals, Inc. *	203,179	1,903,787
Spero Therapeutics, Inc. *	15,400	172,172
Spring Bank Pharmaceuticals, Inc. *	26,580	196,958
Stemline Therapeutics, Inc. *	77,214	1,158,210
Supernus Pharmaceuticals, Inc. *	99,393	3,650,705
Surface Oncology, Inc. *	23,320	109,138
Sutro Biopharma, Inc. *	13,110	130,772
Syndax Pharmaceuticals, Inc. *	28,882	206,506
Syneos Health, Inc. *	125,287	5,879,719
Synlogic, Inc. *	32,508	278,919
Synthorx, Inc. *(a)	14,901	227,985
Syros Pharmaceuticals, Inc. *	51,816	374,630
T2 Biosystems, Inc. *(a)	58,780	151,065

Security	Number of Shares	Value ($)
Teligent, Inc. *(a)	74,300	72,807
Tetraphase Pharmaceuticals, Inc. *	100,653	106,692
TG Therapeutics, Inc. *	126,938	1,009,157
The Medicines Co. *	139,654	4,461,945
TherapeuticsMD, Inc. *(a)	369,914	1,590,630
Theravance Biopharma, Inc. *	87,201	2,079,744
Tocagen, Inc. *	41,873	413,705
Translate Bio, Inc. *	59,787	579,934
Tricida, Inc. *	36,102	1,236,855
Twist Bioscience Corp. *	10,990	260,023
Tyme Technologies, Inc. *(a)	216,877	327,484
Ultragenyx Pharmaceutical, Inc. *	106,694	7,041,804
UNITY Biotechnology, Inc. *	48,280	397,344
Unum Therapeutics, Inc. *	38,190	123,736
Vanda Pharmaceuticals, Inc. *	102,988	1,677,675
Veracyte, Inc. *	57,340	1,311,366
Verastem, Inc. *(a)	143,699	306,079
Vericel Corp. *	88,386	1,501,678
Verrica Pharmaceuticals, Inc. *	21,992	219,920
Viking Therapeutics, Inc. *(a)	124,297	973,246
Voyager Therapeutics, Inc. *	44,210	932,831
WaVe Life Sciences Ltd. *	40,485	1,074,067
X4 Pharmaceuticals, Inc. *	1,450	29,580
Xencor, Inc. *	94,689	2,907,899
Xeris Pharmaceuticals, Inc. *	41,526	423,565
XOMA Corp. *(a)	13,350	158,331
Y-mAbs Therapeutics, Inc. *	13,880	319,518
Zafgen, Inc. *	57,770	147,891
ZIOPHARM Oncology, Inc. *(a)	267,851	1,183,901
Zogenix, Inc. *	84,608	3,298,866
Zomedica Pharmaceuticals Corp. *	73,900	31,075
		372,292,910

Real Estate 7.4%
Acadia Realty Trust	163,340	4,612,722
Agree Realty Corp.	67,823	4,440,372
Alexander & Baldwin, Inc.	137,608	3,250,301
Alexander's, Inc.	4,274	1,622,539
Altisource Portfolio Solutions S.A. *	20,132	476,524
American Assets Trust, Inc.	77,797	3,593,443
American Realty Investors, Inc. *(a)	3,390	46,477
Americold Realty Trust	319,846	10,238,270
Armada Hoffler Properties, Inc.	99,164	1,601,499
Ashford Hospitality Trust, Inc.	173,271	954,723
Bluerock Residential Growth REIT, Inc.	49,720	557,361
Braemar Hotels & Resorts, Inc.	59,874	832,249
BRT Apartments Corp.	18,860	264,606
CareTrust REIT, Inc.	168,773	4,092,745
CatchMark Timber Trust, Inc., Class A	99,204	992,040
CBL & Associates Properties, Inc. (a)	337,157	340,529
Cedar Realty Trust, Inc.	182,555	560,444
Chatham Lodging Trust	93,523	1,841,468
Chesapeake Lodging Trust	120,641	3,438,269
City Office REIT, Inc.	76,826	891,182
Clipper Realty, Inc.	29,212	381,217
Community Healthcare Trust, Inc.	35,333	1,288,948
Consolidated-Tomoka Land Co.	7,600	471,200
CoreCivic, Inc.	240,136	4,997,230
CorEnergy Infrastructure Trust, Inc.	23,964	905,600
CorePoint Lodging, Inc.	82,632	1,032,900
Cousins Properties, Inc.	851,774	8,151,477
Cushman & Wakefield plc *	129,215	2,537,783
DiamondRock Hospitality Co.	420,206	4,563,437
Easterly Government Properties, Inc.	123,390	2,221,020
EastGroup Properties, Inc.	71,014	8,119,031
Essential Properties Realty Trust, Inc.	72,590	1,501,161
Farmland Partners, Inc. (a)	62,203	408,052

₂₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
First Industrial Realty Trust, Inc.	251,905	8,884,689
Forestar Group, Inc. *	21,619	416,598
Four Corners Property Trust, Inc.	136,886	3,893,038
Franklin Street Properties Corp.	210,624	1,655,505
Front Yard Residential Corp.	99,674	987,769
FRP Holdings, Inc. *	14,520	736,019
Getty Realty Corp.	65,974	2,139,537
Gladstone Commercial Corp.	59,485	1,293,799
Gladstone Land Corp.	29,678	376,020
Global Medical REIT, Inc.	45,434	463,427
Global Net Lease, Inc.	154,200	2,940,594
Griffin Industrial Realty, Inc.	2,012	73,458
Hannon Armstrong Sustainable Infrastructure Capital, Inc.	120,937	3,215,715
Healthcare Realty Trust, Inc.	251,726	7,773,299
Hersha Hospitality Trust	73,340	1,361,924
HFF, Inc., Class A	76,000	3,616,840
Independence Realty Trust, Inc.	181,852	1,925,813
Industrial Logistics Properties Trust	131,329	2,606,881
InfraREIT, Inc.	89,734	1,888,901
Innovative Industrial Properties, Inc. (a)	18,857	1,605,485
Investors Real Estate Trust	24,513	1,477,644
iStar, Inc.	131,889	1,143,478
Jernigan Capital, Inc.	37,912	798,806
Kennedy-Wilson Holdings, Inc.	253,508	5,460,562
Kite Realty Group Trust	166,682	2,631,909
Lexington Realty Trust	428,449	3,886,032
LTC Properties, Inc.	79,440	3,579,566
Mack-Cali Realty Corp.	182,597	4,250,858
Marcus & Millichap, Inc. *	39,339	1,695,511
Maui Land & Pineapple Co., Inc. *	14,430	172,727
MedEquities Realty Trust, Inc.	59,204	634,075
Monmouth Real Estate Investment Corp.	179,337	2,464,090
National Health Investors, Inc.	83,019	6,262,123
National Storage Affiliates Trust	114,847	3,360,423
New Senior Investment Group, Inc.	149,403	835,163
Newmark Group, Inc., Class A	304,479	2,594,161
NexPoint Residential Trust, Inc.	37,809	1,417,459
NorthStar Realty Europe Corp.	89,805	1,601,223
Office Properties Income Trust	96,276	2,612,931
One Liberty Properties, Inc.	30,570	865,131
Pebblebrook Hotel Trust	262,649	8,551,851
Pennsylvania Real Estate Investment Trust (a)	139,500	839,790
Physicians Realty Trust	369,422	6,671,761
Piedmont Office Realty Trust, Inc., Class A	255,507	5,319,656
PotlatchDeltic Corp.	134,617	5,204,293
Preferred Apartment Communities, Inc., Class A	82,321	1,287,500
PS Business Parks, Inc.	40,465	6,216,233
QTS Realty Trust, Inc., Class A	103,146	4,677,671
RE/MAX Holdings, Inc., Class A	36,453	1,579,508
Redfin Corp. *(a)	159,671	3,301,996
Retail Opportunity Investments Corp.	227,711	3,996,328
Rexford Industrial Realty, Inc.	187,428	7,101,647
RLJ Lodging Trust	351,859	6,477,724
RPT Realty	159,803	1,938,410
Ryman Hospitality Properties, Inc.	90,595	7,211,362
Sabra Health Care REIT, Inc.	360,028	7,042,148
Safehold, Inc.	16,818	424,318
Saul Centers, Inc.	23,852	1,272,504
Seritage Growth Properties, Class A	66,158	2,949,985
Spirit MTA REIT	88,712	597,919
STAG Industrial, Inc.	198,222	5,704,829
Stratus Properties, Inc. *	11,800	316,004
Summit Hotel Properties, Inc.	211,253	2,452,647
Sunstone Hotel Investors, Inc.	462,029	6,653,218
Tanger Factory Outlet Centers, Inc.	186,334	3,365,192

Security	Number of Shares	Value ($)
Tejon Ranch Co. *	42,725	737,006
Terreno Realty Corp.	121,617	5,430,199
The GEO Group, Inc.	242,918	4,863,218
The RMR Group, Inc., Class A	14,158	818,899
The St. Joe Co. *	70,087	1,194,282
Tier REIT, Inc.	109,206	3,094,898
Transcontinental Realty Investors, Inc. *	2,800	91,000
Trinity Place Holdings, Inc. *	32,544	127,572
UMH Properties, Inc.	68,316	959,840
Universal Health Realty Income Trust	26,034	2,109,275
Urban Edge Properties	221,643	4,115,911
Urstadt Biddle Properties, Inc., Class A	59,599	1,307,006
Washington Prime Group, Inc.	377,544	1,680,071
Washington Real Estate Investment Trust	162,039	4,575,981
Whitestone REIT	77,315	991,951
Xenia Hotels & Resorts, Inc.	228,120	4,938,798
		315,016,403

Retailing 4.4%
1-800-Flowers.com, Inc., Class A *	54,277	1,155,557
Aaron's, Inc.	140,293	7,812,917
Abercrombie & Fitch Co., Class A	134,007	4,005,469
America's Car-Mart, Inc. *	11,746	1,163,441
American Eagle Outfitters, Inc.	327,164	7,779,960
Asbury Automotive Group, Inc. *	39,165	3,140,250
Ascena Retail Group, Inc. *	347,188	413,154
At Home Group, Inc. *	91,084	2,139,563
Barnes & Noble Education, Inc. *	79,683	342,637
Barnes & Noble, Inc.	120,686	607,051
Bed Bath & Beyond, Inc.	267,545	4,470,677
Big 5 Sporting Goods Corp. (a)	40,484	106,473
Big Lots, Inc.	80,914	3,006,764
Boot Barn Holdings, Inc. *	56,798	1,635,214
Caleres, Inc.	85,334	2,238,311
Camping World Holdings, Inc., Class A (a)	64,567	963,340
Carvana Co. *(a)	65,655	4,698,272
Chico's FAS, Inc.	247,613	866,646
Citi Trends, Inc.	24,632	455,938
Conn's, Inc. *	39,664	1,026,108
Core-Mark Holding Co., Inc.	92,679	3,368,882
Designer Brands, Inc.	138,875	3,089,969
Dillard's, Inc., Class A	22,633	1,549,229
Duluth Holdings, Inc., Class B *	16,694	265,768
Etsy, Inc. *	241,963	16,342,181
Express, Inc. *	134,722	495,777
Five Below, Inc. *	110,654	16,198,639
Francesca's Holdings Corp. *	64,500	44,615
Funko, Inc., Class A *	23,095	457,974
Gaia, Inc. *(a)	22,400	236,992
GameStop Corp., Class A	202,265	1,749,592
Genesco, Inc. *	40,031	1,793,789
GNC Holdings, Inc., Class A *(a)	166,237	369,046
Group 1 Automotive, Inc.	37,429	2,931,065
Groupon, Inc. *	906,422	3,190,605
Guess?, Inc.	116,215	2,367,300
Haverty Furniture Cos., Inc.	36,757	875,552
Hibbett Sports, Inc. *	36,213	749,609
Hudson Ltd., Class A *	80,779	1,239,150
J. Jill, Inc.	35,071	196,748
J.C. Penney Co., Inc. *	637,348	873,167
Kirkland's, Inc. *	28,746	169,026
Lands' End, Inc. *	21,745	380,755
Leaf Group Ltd. *	32,500	272,675
Liberty Expedia Holdings, Inc., Class A *	110,739	5,140,504
Liquidity Services, Inc. *	52,735	358,071
Lithia Motors, Inc., Class A	45,129	5,123,044
Lumber Liquidators Holdings, Inc. *	57,481	759,899

₂₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
MarineMax, Inc. *	44,262	765,290
Monro, Inc.	64,417	5,400,077
Murphy USA, Inc. *	60,983	5,212,217
National Vision Holdings, Inc. *	127,190	3,434,130
Office Depot, Inc.	1,100,112	2,640,269
Ollie's Bargain Outlet Holdings, Inc. *	100,750	9,635,730
Overstock.com, Inc. *(a)	46,479	612,593
Party City Holdco, Inc. *	114,128	764,658
PetMed Express, Inc. (a)	40,027	874,590
Pier 1 Imports, Inc. *	169,796	153,988
Quotient Technology, Inc. *	161,169	1,497,260
Remark Holdings, Inc. *(a)	50,900	64,134
Rent-A-Center, Inc. *	89,482	2,230,786
RH *	38,503	4,108,655
RTW RetailWinds, Inc. *	53,300	123,656
Sally Beauty Holdings, Inc. *	244,114	4,320,818
Shoe Carnival, Inc.	20,605	734,774
Shutterfly, Inc. *	67,482	2,957,736
Shutterstock, Inc.	38,324	1,550,206
Signet Jewelers Ltd.	105,211	2,438,791
Sleep Number Corp. *	65,744	2,287,891
Sonic Automotive, Inc., Class A	49,259	996,510
Sportsman's Warehouse Holdings, Inc. *	77,381	345,119
Stamps.com, Inc. *	35,658	3,059,456
Tailored Brands, Inc.	99,262	808,985
The Buckle, Inc. (a)	58,123	1,074,113
The Cato Corp., Class A	46,590	706,304
The Children's Place, Inc.	31,719	3,578,538
The Container Store Group, Inc. *	32,932	284,533
Tile Shop Holdings, Inc.	84,140	408,920
Tilly's, Inc., Class A	42,269	497,083
Weyco Group, Inc.	12,841	440,575
Winmark Corp.	5,120	944,896
Zumiez, Inc. *	37,191	990,396
		184,561,042

Semiconductors & Semiconductor Equipment 2.8%
ACM Research, Inc., Class A *(a)	18,340	315,998
Adesto Technologies Corp. *	51,598	328,679
Advanced Energy Industries, Inc. *	77,354	4,467,967
Alpha & Omega Semiconductor Ltd. *	41,200	510,880
Ambarella, Inc. *	62,581	3,136,560
Amkor Technology, Inc. *	206,495	1,870,845
Aquantia Corp. *	45,203	429,881
Axcelis Technologies, Inc. *	66,433	1,414,359
AXT, Inc. *	74,320	423,624
Brooks Automation, Inc.	140,753	5,279,645
Cabot Microelectronics Corp.	57,392	7,245,740
CEVA, Inc. *	44,155	1,112,264
Cirrus Logic, Inc. *	120,394	5,728,346
Cohu, Inc.	79,818	1,183,701
Cree, Inc. *	209,323	13,834,157
Diodes, Inc. *	80,894	2,946,159
Entegris, Inc.	287,559	11,749,661
FormFactor, Inc. *	149,568	2,834,314
Ichor Holdings Ltd. *	44,527	1,121,190
Impinj, Inc. *	33,337	975,774
Inphi Corp. *	87,868	4,012,053
Kopin Corp. *	118,000	147,500
Lattice Semiconductor Corp. *	238,232	3,085,104
MACOM Technology Solutions Holdings, Inc. *	93,674	1,301,132
MaxLinear, Inc. *	127,579	3,433,151
Nanometrics, Inc. *	46,049	1,371,800
NeoPhotonics Corp. *	73,071	499,075
NVE Corp.	9,538	913,836
PDF Solutions, Inc. *	56,626	735,005

Security	Number of Shares	Value ($)
Photronics, Inc. *	131,461	1,227,846
Power Integrations, Inc.	58,112	4,592,010
Rambus, Inc. *	216,926	2,485,972
Rudolph Technologies, Inc. *	63,722	1,541,435
Semtech Corp. *	131,486	7,083,151
Silicon Laboratories, Inc. *	87,046	9,371,372
SMART Global Holdings, Inc. *	26,193	569,436
SunPower Corp. *(a)	125,753	907,937
Synaptics, Inc. *	70,190	2,644,057
Ultra Clean Holdings, Inc. *	77,270	924,922
Veeco Instruments, Inc. *	96,052	1,169,913
Xperi Corp.	97,824	2,430,926
		117,357,377

Software & Services 8.3%
8x8, Inc. *	190,860	4,565,371
A10 Networks, Inc. *	105,490	681,465
ACI Worldwide, Inc. *	232,004	8,240,782
Agilysys, Inc. *	30,900	591,117
Alarm.com Holdings, Inc. *	63,285	4,485,641
Altair Engineering, Inc., Class A *	50,259	1,982,215
Alteryx, Inc., Class A *	59,225	5,249,704
Amber Road, Inc. *	48,664	439,923
American Software, Inc., Class A	58,242	754,234
Anaplan, Inc. *	36,771	1,447,674
Appfolio, Inc., Class A *	31,655	3,074,017
Asure Software, Inc. *	23,660	164,674
Avalara, Inc. *	55,844	3,287,536
Avaya Holdings Corp. *	212,663	4,057,610
Benefitfocus, Inc. *	56,765	2,312,038
Blackbaud, Inc.	97,645	7,742,272
Blackline, Inc. *	74,795	3,820,529
Bottomline Technologies (de), Inc. *	85,775	4,337,642
Box, Inc., Class A *	256,182	5,282,473
Brightcove, Inc. *	72,292	725,089
CACI International, Inc., Class A *	49,774	9,702,943
Carbon Black, Inc. *	76,840	1,055,782
Carbonite, Inc. *	65,047	1,595,603
Cardtronics plc, Class A *	80,693	2,885,582
Cass Information Systems, Inc.	28,997	1,430,422
ChannelAdvisor Corp. *	53,337	626,710
Cision Ltd. *	135,679	1,636,289
Cloudera, Inc. *	407,635	4,536,977
CommVault Systems, Inc. *	81,093	4,265,492
Cornerstone OnDemand, Inc. *	110,315	6,028,715
Coupa Software, Inc. *	112,873	11,663,167
CSG Systems International, Inc.	66,360	2,962,974
Digimarc Corp. *(a)	22,962	684,038
Domo, Inc., Class B *	33,677	1,290,166
Ebix, Inc.	48,585	2,452,571
eGain Corp. *	36,412	363,756
Endurance International Group Holdings, Inc. *	139,806	773,127
Envestnet, Inc. *	90,432	6,419,768
Everbridge, Inc. *	59,148	4,370,446
EVERTEC, Inc.	123,589	3,869,572
Evo Payments, Inc., Class A *	49,659	1,475,369
Exela Technologies, Inc. *	99,570	327,585
ExlService Holdings, Inc. *	67,570	4,013,658
Five9, Inc. *	116,046	6,158,561
ForeScout Technologies, Inc. *	62,412	2,623,800
GTT Communications, Inc. *(a)	85,588	3,590,417
HubSpot, Inc. *	74,895	13,817,378
I3 Verticals, Inc., Class A *	18,556	447,942
Information Services Group, Inc. *	71,976	256,235
Instructure, Inc. *	64,028	2,758,326
Internap Corp. *	47,345	186,539

₂₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
j2 Global, Inc.	95,069	8,329,946
KBR, Inc.	285,440	6,342,477
Limelight Networks, Inc. *	221,397	657,549
LivePerson, Inc. *	119,808	3,513,969
LiveRamp Holdings, Inc. *	137,415	8,015,417
Majesco *	11,700	91,260
ManTech International Corp., Class A	53,432	3,312,250
MAXIMUS, Inc.	129,422	9,531,930
MicroStrategy, Inc., Class A *	17,427	2,608,822
Mitek Systems, Inc. *	68,309	812,877
MobileIron, Inc. *	148,578	881,067
Model N, Inc. *	52,500	973,350
MoneyGram International, Inc. *	61,251	202,741
Monotype Imaging Holdings, Inc.	82,536	1,422,921
New Relic, Inc. *	91,280	9,606,307
NIC, Inc.	129,806	2,240,451
OneSpan, Inc. *	63,568	1,178,551
Park City Group, Inc. *	25,000	193,250
Paylocity Holding Corp. *	58,636	5,661,306
Perficient, Inc. *	65,263	1,921,343
Perspecta, Inc.	287,548	6,636,608
PFSweb, Inc. *	28,700	132,594
Presidio, Inc.	81,864	1,229,597
PRGX Global, Inc. *	42,456	340,497
Progress Software Corp.	90,909	4,146,359
PROS Holdings, Inc. *	64,255	3,292,426
Q2 Holdings, Inc. *	75,817	5,718,118
QAD, Inc., Class A	20,790	974,427
Qualys, Inc. *	68,957	6,224,059
Rapid7, Inc. *	74,752	4,062,024
Rimini Street, Inc. *	18,800	95,504
SailPoint Technologies Holding, Inc. *	141,826	4,008,003
Science Applications International Corp.	102,247	7,663,413
SecureWorks Corp., Class A *(a)	17,646	342,685
ServiceSource International, Inc. *	144,500	153,170
ShotSpotter, Inc. *	14,912	785,862
SPS Commerce, Inc. *	34,854	3,615,754
SVMK, Inc. *	35,865	641,983
Sykes Enterprises, Inc. *	80,007	2,220,194
Telaria, Inc. *	89,271	643,644
Telenav, Inc. *	62,009	386,316
Tenable Holdings, Inc. *	60,614	2,176,043
The Hackett Group, Inc.	49,591	761,222
The Trade Desk, Inc., Class A *	67,461	14,941,262
TiVo Corp.	243,195	2,278,737
Travelport Worldwide Ltd.	254,407	3,989,102
TTEC Holdings, Inc.	28,401	1,035,500
Tucows, Inc., Class A *	19,336	1,705,242
Unisys Corp. *	102,249	1,146,211
Upland Software, Inc. *	31,707	1,474,058
USA Technologies, Inc. *(a)	115,107	652,657
Varonis Systems, Inc. *	57,342	4,079,883
Verint Systems, Inc. *	130,539	7,883,250
Veritone, Inc. *(a)	15,300	94,707
VirnetX Holding Corp. *(a)	117,570	750,097
Virtusa Corp. *	57,270	3,181,348
Workiva, Inc. *	58,465	3,106,830
Yext, Inc. *	172,948	3,789,291
Zix Corp. *	107,834	878,847
Zscaler, Inc. *	123,316	8,423,716
		350,670,940

Technology Hardware & Equipment 4.6%
3D Systems Corp. *	220,723	2,348,493
Acacia Communications, Inc. *	55,530	3,214,076
ADTRAN, Inc.	96,198	1,648,834
Aerohive Networks, Inc. *	68,562	231,740

Security	Number of Shares	Value ($)
Anixter International, Inc. *	59,703	3,753,528
Applied Optoelectronics, Inc. *(a)	37,389	468,110
Arlo Technologies, Inc. *	151,848	602,837
Avid Technology, Inc. *	53,873	409,435
AVX Corp.	94,315	1,538,278
Badger Meter, Inc.	58,117	3,224,331
Bel Fuse, Inc., Class B	20,511	486,111
Belden, Inc.	81,754	4,541,435
Benchmark Electronics, Inc.	88,383	2,388,992
CalAmp Corp. *	68,843	1,005,796
Calix, Inc. *	89,638	614,020
Casa Systems, Inc. *	53,474	512,816
Ciena Corp. *	290,425	11,140,703
Clearfield, Inc. *	23,802	350,841
Comtech Telecommunications Corp.	46,862	1,102,663
Control4 Corp. *	53,043	923,479
Cray, Inc. *	82,291	2,160,962
CTS Corp.	65,997	1,976,610
Daktronics, Inc.	74,050	561,299
DASAN Zhone Solutions, Inc. *	11,000	126,060
Diebold Nixdorf, Inc. *	153,626	1,550,086
Digi International, Inc. *	56,275	724,259
Eastman Kodak Co. *(a)	33,200	81,672
Electronics For Imaging, Inc. *	89,160	3,315,860
ePlus, Inc. *	27,092	2,554,505
Extreme Networks, Inc. *	233,511	1,868,088
Fabrinet *	73,112	4,424,738
FARO Technologies, Inc. *	34,656	1,949,400
Finisar Corp. *	237,183	5,718,482
Fitbit, Inc., Class A *	430,539	2,273,246
Harmonic, Inc. *	172,730	977,652
II-VI, Inc. *	127,098	5,063,584
Immersion Corp. *	53,067	501,483
Infinera Corp. *	303,760	1,318,318
Insight Enterprises, Inc. *	71,288	4,033,475
InterDigital, Inc.	68,277	4,464,633
Iteris, Inc. *	53,911	233,974
Itron, Inc. *	68,330	3,666,588
KEMET Corp.	114,041	2,037,913
Kimball Electronics, Inc. *	49,908	755,108
Knowles Corp. *	177,411	3,349,520
KVH Industries, Inc. *	34,626	339,335
Lumentum Holdings, Inc. *	153,804	9,531,234
Maxwell Technologies, Inc. *	84,082	369,120
Methode Electronics, Inc.	72,789	2,148,003
MTS Systems Corp.	35,992	1,978,840
Napco Security Technologies, Inc. *	24,151	598,462
NETGEAR, Inc. *	63,085	1,957,527
NetScout Systems, Inc. *	152,130	4,472,622
nLight, Inc. *	45,857	1,198,243
Novanta, Inc. *	66,200	5,760,724
OSI Systems, Inc. *	34,024	3,066,583
PAR Technology Corp. *(a)	22,979	544,832
Park Electrochemical Corp.	39,416	648,393
PC Connection, Inc.	22,963	853,305
Plantronics, Inc.	67,427	3,471,142
Plexus Corp. *	62,239	3,745,543
Quantenna Communications, Inc. *	69,382	1,689,452
Ribbon Communications, Inc. *	111,163	595,834
Rogers Corp. *	37,124	6,219,012
Sanmina Corp. *	137,202	4,653,892
ScanSource, Inc. *	50,861	1,914,917
Stratasys Ltd. *	102,005	2,371,616
SYNNEX Corp.	84,299	9,094,176
Tech Data Corp. *	75,520	8,051,187
TTM Technologies, Inc. *	189,399	2,507,643
ViaSat, Inc. *	112,233	10,193,001
Viavi Solutions, Inc. *	460,170	6,120,261

₂₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Small-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Vishay Intertechnology, Inc.	268,028	5,309,635
Vishay Precision Group, Inc. *	20,645	781,826
		196,380,393

Telecommunication Services 0.7%
ATN International, Inc.	21,311	1,301,037
Boingo Wireless, Inc. *	83,248	1,893,060
Cincinnati Bell, Inc. *	92,775	825,697
Cogent Communications Holdings, Inc.	84,963	4,692,506
Consolidated Communications Holdings, Inc.	140,421	724,572
Frontier Communications Corp. *(a)	214,428	611,120
Gogo, Inc. *(a)	118,894	625,382
Intelsat S.A. *	113,150	2,290,156
Iridium Communications, Inc. *	194,067	5,329,080
NII Holdings, Inc. *	176,452	345,846
Ooma, Inc. *	37,395	504,459
ORBCOMM, Inc. *	147,108	1,065,062
pdvWireless, Inc. *	19,358	770,448
Shenandoah Telecommunications Co.	94,313	3,897,956
Spok Holdings, Inc.	36,000	498,600
Vonage Holdings Corp. *	448,086	4,355,396
		29,730,377

Transportation 1.4%
Air Transport Services Group, Inc. *	118,435	2,786,776
Allegiant Travel Co.	26,207	3,849,284
ArcBest Corp.	51,657	1,578,638
Atlas Air Worldwide Holdings, Inc. *	47,734	2,305,075
Avis Budget Group, Inc. *	132,291	4,702,945
Costamare, Inc.	102,998	622,108
Covenant Transportation Group, Inc., Class A *	25,593	499,831
Daseke, Inc. *	82,000	423,120
Eagle Bulk Shipping, Inc. *	98,835	538,651
Echo Global Logistics, Inc. *	57,224	1,312,719
Forward Air Corp.	58,517	3,705,296
Genco Shipping & Trading Ltd. *	18,254	184,365
Hawaiian Holdings, Inc.	99,233	2,799,363
Heartland Express, Inc.	94,814	1,865,939
Hertz Global Holdings, Inc. *	110,472	2,008,381
Hub Group, Inc., Class A *	65,899	2,739,421
Marten Transport Ltd.	78,429	1,551,326
Matson, Inc.	85,551	3,388,675
Mesa Air Group, Inc. *	22,730	207,752
P.A.M. Transportation Services, Inc. *	4,100	205,082
Radiant Logistics, Inc. *	76,687	501,533
Safe Bulkers, Inc. *	110,082	197,047
Saia, Inc. *	51,938	3,344,288
Scorpio Bulkers, Inc.	113,298	609,543
SkyWest, Inc.	102,978	6,342,415
Spirit Airlines, Inc. *	138,778	7,546,748
Universal Logistics Holdings, Inc.	17,261	421,514
US Xpress Enterprises, Inc., Class A *	45,894	309,326
USA Truck, Inc. *	16,597	236,341
Werner Enterprises, Inc.	93,986	3,148,531
YRC Worldwide, Inc. *	68,047	463,400
		60,395,433

Utilities 3.7%
ALLETE, Inc.	104,372	8,501,099
American States Water Co.	74,133	5,276,046
AquaVenture Holdings Ltd. *	22,390	435,485
Artesian Resources Corp., Class A	15,735	570,866
Atlantic Power Corp. *	214,100	494,571

Security	Number of Shares	Value ($)
Avista Corp.	132,748	5,726,749
Black Hills Corp.	108,628	7,903,773
Cadiz, Inc. *(a)	46,818	479,416
California Water Service Group	97,375	4,906,726
Chesapeake Utilities Corp.	32,051	2,969,205
Clearway Energy, Inc., Class A	70,961	1,090,671
Clearway Energy, Inc., Class C	147,690	2,343,840
Connecticut Water Service, Inc.	24,487	1,679,074
Consolidated Water Co., Ltd.	30,469	385,738
El Paso Electric Co.	82,081	5,015,970
Global Water Resources, Inc.	21,700	211,575
IDACORP, Inc.	102,229	10,122,716
MGE Energy, Inc.	70,423	4,773,975
Middlesex Water Co.	32,140	1,863,799
New Jersey Resources Corp.	176,405	8,834,362
Northwest Natural Holding Co.	57,777	3,864,704
NorthWestern Corp.	102,540	7,162,419
ONE Gas, Inc.	105,705	9,357,007
Ormat Technologies, Inc.	80,729	4,711,344
Otter Tail Corp.	79,712	4,089,226
Pattern Energy Group, Inc., Class A	163,136	3,771,704
PNM Resources, Inc.	161,316	7,491,515
Portland General Electric Co.	181,189	9,477,997
Pure Cycle Corp. *	34,440	346,122
RGC Resources, Inc.	14,400	398,880
SJW Group.	47,921	2,973,977
South Jersey Industries, Inc.	187,436	6,020,444
Southwest Gas Holdings, Inc. *	107,318	8,927,784
Spark Energy, Inc., Class A	24,910	235,649
Spire, Inc.	99,891	8,409,823
TerraForm Power, Inc., Class A	148,374	2,011,951
The York Water Co.	26,264	893,764
Unitil Corp.	29,510	1,679,414
		155,409,380
Total Common Stock
(Cost $3,150,705,444)		4,222,882,803

Rights 0.0% of net assets

Materials 0.0%
A. Schulman, Inc. CVR *(b)	50,881	22,031

Media & Entertainment 0.0%
Media General, Inc. CVR *(b)	174,886	14,883

Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Corium International, Inc. CVR *(b)	50,000	9,000
Omthera Pharmaceuticals, Inc. CVR *(b)	8,400	—
Tobira Therapeutics, Inc. CVR *(b)	14,029	161,679
		170,679
Total Rights
(Cost $31,873)		207,593

Other Investment Company 1.5% of net assets

Securities Lending Collateral 1.5%
Wells Fargo Government Money Market Fund, Select Class 2.36% (c)	65,884,644	65,884,644
Total Other Investment Company
(Cost $65,884,644)		65,884,644

₃₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.4% of net assets

Automobiles & Components 0.8%
Adient plc	26,996	623,608
American Axle & Manufacturing Holdings, Inc. *	37,198	548,670
Aptiv plc	85,737	7,347,661
Autoliv, Inc.	28,446	2,232,727
BorgWarner, Inc.	68,190	2,848,296
Cooper Tire & Rubber Co.	16,286	486,300
Cooper-Standard Holding, Inc. *	4,777	242,051
Dana, Inc.	51,173	997,873
Delphi Technologies plc	29,887	661,399
Dorman Products, Inc. *	9,233	809,457
Ford Motor Co.	1,283,848	13,416,212
Fox Factory Holding Corp. *	12,576	975,898
Garrett Motion, Inc. *	22,129	416,025
General Motors Co.	429,349	16,723,144
Gentex Corp.	85,280	1,963,998
Gentherm, Inc. *	11,532	488,495
Harley-Davidson, Inc.	52,399	1,950,815
Horizon Global Corp. *(a)	18,114	50,357
LCI Industries	8,433	740,839
Lear Corp.	20,464	2,926,352
Modine Manufacturing Co. *	17,500	258,825
Motorcar Parts of America, Inc. *	5,552	114,704
Shiloh Industries, Inc. *	4,387	25,094
Standard Motor Products, Inc.	6,318	315,710
Stoneridge, Inc. *	7,541	237,014
Strattec Security Corp.	1,500	45,435
Tenneco, Inc., Class A	15,201	333,206
Tesla, Inc. *	44,826	10,699,518
The Goodyear Tire & Rubber Co.	76,362	1,466,914
Thor Industries, Inc.	16,886	1,112,281
Tower International, Inc.	6,203	144,778
UQM Technologies, Inc. *	26,900	44,923
Veoneer, Inc. *(a)	27,094	597,965
Visteon Corp. *	9,724	641,978
Winnebago Industries, Inc.	9,427	333,433
		72,821,955

Banks 6.0%
1st Constitution Bancorp	2,000	37,560
1st Source Corp.	5,295	247,965
ACNB Corp.	2,261	85,624
Allegiance Bancshares, Inc. *	4,113	142,186
Amalgamated Bank, Class A	2,800	47,460
American National Bankshares, Inc.	2,310	87,364
American River Bankshares	3,244	41,556
Ameris Bancorp	13,824	504,023
AmeriServ Financial, Inc.	10,799	44,600
Ames National Corp.	2,389	67,489
Arrow Financial Corp.	4,841	162,900
Associated Banc-Corp.	51,177	1,161,206
Atlantic Capital Bancshares, Inc. *	7,985	139,258
Auburn National Bancorp, Inc. (a)	1,391	49,756
Axos Financial, Inc. *	16,578	542,432
Banc of California, Inc.	10,980	159,320

Security	Number of Shares	Value ($)
BancFirst Corp.	5,588	315,163
Bancorp of New Jersey, Inc. *	3,401	45,777
BancorpSouth Bank	29,709	905,530
Bank of America Corp.	2,944,448	90,041,220
Bank of Commerce Holdings	5,000	54,100
Bank of Hawaii Corp.	12,593	1,037,411
Bank of Marin Bancorp	3,742	158,474
Bank OZK	40,810	1,332,447
BankFinancial Corp.	4,321	64,858
BankUnited, Inc.	30,596	1,119,202
Bankwell Financial Group, Inc.	2,000	60,980
Banner Corp.	10,761	570,548
Bar Harbor Bankshares	5,502	144,593
Baycom Corp. *	1,979	45,616
BB&T Corp.	249,293	12,763,802
BCB Bancorp, Inc.	4,200	55,524
Berkshire Hills Bancorp, Inc.	14,788	443,492
BOK Financial Corp.	10,014	872,620
Boston Private Financial Holdings, Inc.	28,203	322,924
Bridge Bancorp, Inc.	5,500	170,445
Bridgewater Bancshares, Inc. *	4,163	44,502
Brookline Bancorp, Inc.	26,142	393,437
Bryn Mawr Bank Corp.	6,152	234,330
Business First Bancshares, Inc.	4,553	115,874
Byline Bancorp, Inc. *	4,600	92,092
C&F Financial Corp.	1,200	58,200
Cadence BanCorp	41,959	954,567
Cambridge Bancorp	1,228	102,968
Camden National Corp.	4,903	215,634
Capital City Bank Group, Inc.	5,225	119,862
Capitol Federal Financial, Inc.	48,563	670,169
Capstar Financial Holdings, Inc.	2,802	43,403
Carolina Financial Corp.	7,600	274,284
Carolina Trust Bancshares, Inc. *	5,399	44,542
Cathay General Bancorp	25,355	932,810
CB Financial Services, Inc.	1,482	35,183
CBTX, Inc.	6,037	191,373
CenterState Bank Corp.	35,279	870,686
Central Pacific Financial Corp.	8,622	258,746
Central Valley Community Bancorp	3,755	76,827
Century Bancorp, Inc., Class A	1,223	112,112
Chemical Financial Corp.	24,890	1,093,418
Chemung Financial Corp.	968	45,864
CIT Group, Inc.	32,351	1,723,338
Citigroup, Inc.	770,835	54,498,035
Citizens & Northern Corp.	4,229	119,892
Citizens Community Bancorp, Inc.	3,744	44,029
Citizens Financial Group, Inc.	148,791	5,386,234
City Holding Co.	5,897	468,104
Civista Bancshares, Inc.	3,796	83,512
CNB Financial Corp.	5,361	152,681
Codorus Valley Bancorp, Inc.	2,694	57,005
Colony Bankcorp, Inc.	2,706	46,300
Columbia Banking System, Inc.	23,632	887,145
Columbia Financial, Inc. *	19,578	310,507
Comerica, Inc.	51,184	4,022,551
Commerce Bancshares, Inc.	31,494	1,903,182
Community Bank System, Inc.	16,367	1,087,751
Community Bankers Trust Corp.	7,000	55,160
Community Trust Bancorp, Inc.	5,256	222,066

₃₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Community West Bancshares	4,366	44,490
ConnectOne Bancorp, Inc.	8,775	191,558
County Bancorp, Inc.	2,567	46,026
Cullen/Frost Bankers, Inc.	20,392	2,073,662
Customers Bancorp, Inc. *	10,510	238,052
CVB Financial Corp.	31,741	688,780
Dime Community Bancshares, Inc.	9,580	193,037
DNB Financial Corp.	1,193	48,889
Eagle Bancorp Montana, Inc.	2,558	43,486
Eagle Bancorp, Inc. *	9,700	536,022
East West Bancorp, Inc.	46,607	2,399,328
Entegra Financial Corp. *	2,050	60,475
Enterprise Bancorp, Inc.	2,816	89,352
Enterprise Financial Services Corp.	6,416	272,937
Equity Bancshares, Inc., Class A *	5,288	138,863
Esquire Financial Holdings, Inc. *	1,750	43,995
ESSA Bancorp, Inc.	2,841	43,496
Essent Group Ltd. *	31,614	1,500,084
Evans Bancorp, Inc.	1,382	50,775
F.N.B. Corp.	99,859	1,211,290
Farmers & Merchants Bancorp, Inc.	2,641	83,825
Farmers National Banc Corp.	7,093	102,068
Fauquier Bankshares, Inc.	2,085	45,557
FB Financial Corp.	5,492	201,776
Federal Agricultural Mortgage Corp., Class A	643	45,589
Federal Agricultural Mortgage Corp., Class C	2,925	223,704
Fidelity D&D Bancorp, Inc. (a)	800	48,000
Fidelity Southern Corp.	6,757	196,696
Fifth Third Bancorp	253,648	7,310,135
Financial Institutions, Inc.	4,637	127,518
First BanCorp	65,649	741,834
First Bancorp (North Carolina)	10,445	395,970
First Bancorp, Inc.	3,885	104,157
First Bank/Hamilton NJ	6,451	73,606
First Busey Corp.	16,944	437,833
First Business Financial Services, Inc.	2,369	54,558
First Capital, Inc.	1,074	54,967
First Choice Bancorp	2,370	50,386
First Citizens BancShares, Inc., Class A	3,013	1,350,577
First Commonwealth Financial Corp.	32,758	445,836
First Community Bankshares, Inc.	4,583	159,305
First Community Corp.	2,104	39,534
First Defiance Financial Corp.	7,044	207,868
First Financial Bancorp	32,014	803,551
First Financial Bankshares, Inc.	23,490	1,445,105
First Financial Corp.	2,991	123,139
First Financial Northwest, Inc.	2,467	41,273
First Foundation, Inc.	11,843	168,289
First Guaranty Bancshares, Inc.	2,136	45,817
First Hawaiian, Inc.	26,246	725,702
First Horizon National Corp.	107,270	1,618,704
First Interstate BancSystem, Inc., Class A	12,482	527,489
First Merchants Corp.	17,712	649,499
First Mid Bancshares, Inc.	3,252	112,161
First Midwest Bancorp, Inc.	39,319	844,179
First Northwest Bancorp	3,416	55,612
First Republic Bank	54,301	5,735,272
First Savings Financial Group, Inc.	860	49,966
First United Corp.	2,475	46,827
First US Bancshares, Inc.	4,470	44,812
Flagstar Bancorp, Inc.	8,664	309,738
Flushing Financial Corp.	8,253	186,518
FNCB Bancorp, Inc.	4,152	33,133
Franklin Financial Network, Inc.	3,791	104,821
FS Bancorp, Inc.	938	48,485
Fulton Financial Corp.	53,140	916,665

Security	Number of Shares	Value ($)
German American Bancorp, Inc.	6,328	188,891
Glacier Bancorp, Inc.	29,832	1,270,545
Great Southern Bancorp, Inc.	3,639	210,880
Great Western Bancorp, Inc.	17,159	603,482
Greene County Bancorp, Inc.	1,473	45,545
Guaranty Bancshares, Inc.	2,780	78,035
Guaranty Federal Bancshares, Inc.	1,961	44,554
Hancock Whitney Corp.	27,778	1,215,010
Hanmi Financial Corp.	10,693	253,638
HarborOne Bancorp, Inc. *	11,107	207,923
Hawthorn Bancshares, Inc.	1,601	37,640
Heartland Financial USA, Inc.	9,104	408,770
Heritage Commerce Corp.	11,571	144,869
Heritage Financial Corp.	9,356	283,206
Hilltop Holdings, Inc.	25,847	543,562
Hingham Institution for Savings	534	98,795
Home Bancorp, Inc.	1,946	71,301
Home BancShares, Inc.	48,375	928,316
HomeStreet, Inc. *	9,269	260,830
HomeTrust Bancshares, Inc.	6,004	152,261
Hope Bancorp, Inc.	42,153	592,671
Hopfed Bancorp, Inc.	2,268	44,317
Horizon Bancorp, Inc.	12,027	195,679
Howard Bancorp, Inc. *	4,800	72,144
Huntington Bancshares, Inc.	348,093	4,845,455
IBERIABANK Corp.	17,289	1,374,476
Independent Bank Corp.	11,089	889,670
Independent Bank Corp., Michigan	7,335	157,923
Independent Bank Group, Inc.	12,943	737,751
International Bancshares Corp.	19,695	816,752
Investar Holding Corp.	2,523	58,735
Investors Bancorp, Inc.	74,260	872,555
JPMorgan Chase & Co.	1,073,256	124,551,359
Kearny Financial Corp.	30,708	429,912
KeyCorp	332,660	5,838,183
Lakeland Bancorp, Inc.	15,000	248,400
Lakeland Financial Corp.	10,005	477,739
LCNB Corp.	4,536	77,112
LegacyTexas Financial Group, Inc.	15,859	635,629
LendingTree, Inc. *	2,539	977,058
Live Oak Bancshares, Inc.	7,662	133,855
Luther Burbank Corp.	6,821	71,825
M&T Bank Corp.	45,049	7,661,483
Macatawa Bank Corp.	7,248	74,799
Mackinac Financial Corp.	2,963	46,489
Malvern Bancorp, Inc. *	1,956	41,448
MBT Financial Corp.	4,678	46,967
Mercantile Bank Corp.	5,614	189,753
Merchants Bancorp	5,609	135,626
Meridian Bancorp, Inc.	15,771	271,577
Meridian Corp. *	2,531	44,773
Meta Financial Group, Inc.	7,302	188,100
Metropolitan Bank Holding Corp. *	2,381	95,026
MGIC Investment Corp. *	117,944	1,726,700
Mid Penn Bancorp, Inc.	1,996	48,662
Middlefield Banc Corp.	904	36,657
Midland States Bancorp, Inc.	7,038	188,759
MidSouth Bancorp, Inc.	3,600	42,732
MidWestOne Financial Group, Inc.	3,261	91,895
MMA Capital Holdings, Inc. *	1,499	47,668
Mr Cooper Group, Inc. *	8,189	70,425
MSB Financial Corp.	2,482	44,118
MutualFirst Financial, Inc.	1,990	59,481
MVB Financial Corp.	3,423	56,788
National Bank Holdings Corp., Class A	9,231	352,993
National Bankshares, Inc.	2,688	113,676
NBT Bancorp, Inc.	12,985	493,690
New York Community Bancorp, Inc.	151,685	1,764,097

₃₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Nicolet Bankshares, Inc. *	2,665	162,698
NMI Holdings, Inc., Class A *	21,585	606,107
Northeast Bancorp	1,965	43,073
Northfield Bancorp, Inc.	15,765	236,475
Northrim BanCorp, Inc.	2,596	92,132
Northwest Bancshares, Inc.	33,446	582,964
Norwood Financial Corp.	1,600	51,488
Oak Valley Bancorp	2,528	48,462
OceanFirst Financial Corp.	12,138	305,635
Ocwen Financial Corp. *	33,720	56,987
OFG Bancorp	12,812	258,546
Ohio Valley Banc Corp.	1,139	42,804
Old Line Bancshares, Inc.	4,758	118,950
Old National Bancorp	51,917	886,742
Old Second Bancorp, Inc.	10,602	140,477
Opus Bank	7,454	163,019
Origin Bancorp, Inc.	1,600	55,744
Oritani Financial Corp.	10,694	185,541
Orrstown Financial Services, Inc.	2,174	45,089
Pacific Mercantile Bancorp *	4,589	35,932
Pacific Premier Bancorp, Inc.	15,952	463,725
PacWest Bancorp	38,677	1,529,675
Park National Corp.	4,258	415,921
Parke Bancorp, Inc.	2,239	51,228
PB Bancorp, Inc.	4,076	45,244
PCSB Financial Corp.	6,385	121,634
Peapack-Gladstone Financial Corp.	5,216	150,899
Penns Woods Bancorp, Inc.	1,500	65,490
PennyMac Financial Services, Inc.	18,548	413,620
People's United Financial, Inc.	123,560	2,136,352
People's Utah Bancorp	5,381	153,089
Peoples Bancorp of North Carolina, Inc.	1,427	39,913
Peoples Bancorp, Inc.	6,847	223,760
Peoples Financial Services Corp.	2,448	106,488
Pinnacle Financial Partners, Inc.	25,044	1,454,305
Plumas Bancorp	1,860	48,639
Ponce de Leon Federal Bank *	3,464	50,124
Popular, Inc.	31,714	1,830,215
Preferred Bank	5,001	245,999
Premier Financial Bancorp, Inc.	2,848	47,220
Prosperity Bancshares, Inc.	22,843	1,682,159
Provident Bancorp, Inc. *	750	18,375
Provident Financial Holdings, Inc.	2,246	45,482
Provident Financial Services, Inc.	21,746	576,704
Prudential Bancorp, Inc.	2,109	36,823
QCR Holdings, Inc.	3,960	135,472
Radian Group, Inc.	70,757	1,657,129
Randolph Bancorp, Inc. *	2,980	45,505
RBB Bancorp	4,010	77,634
Regions Financial Corp.	330,259	5,128,922
Reliant Bancorp, Inc.	2,700	61,830
Renasant Corp.	16,472	597,275
Republic Bancorp, Inc., Class A	2,950	139,417
Republic First Bancorp, Inc. *	17,184	87,982
Rhinebeck Bancorp, Inc. *	3,810	44,768
Riverview Bancorp, Inc.	5,400	40,068
S&T Bancorp, Inc.	12,483	500,319
Salisbury Bancorp, Inc.	1,041	40,453
Sandy Spring Bancorp, Inc.	12,945	451,651
SB Financial Group, Inc.	2,430	44,469
SB One Bancorp	1,887	44,816
Seacoast Banking Corp. of Florida *	17,503	496,385
Security National Financial Corp., Class A *	8,967	45,552
Select Bancorp, Inc. *	5,100	62,628
ServisFirst Bancshares, Inc.	14,569	494,472
Severn Bancorp, Inc.	5,134	47,541
Shore Bancshares, Inc.	4,629	73,277

Security	Number of Shares	Value ($)
SI Financial Group, Inc.	3,257	46,640
Sierra Bancorp	4,155	109,941
Signature Bank	18,380	2,427,447
Simmons First National Corp., Class A	31,070	788,867
SmartFinancial, Inc. *	2,700	56,133
Sound Financial Bancorp, Inc.	1,293	44,285
South State Corp.	11,139	842,777
Southern First Bancshares, Inc. *	1,875	69,019
Southern Missouri Bancorp, Inc.	3,020	101,321
Southern National Bancorp of Virginia, Inc.	6,730	100,412
Southside Bancshares, Inc.	10,547	370,516
Spirit of Texas Bancshares, Inc. *	3,720	83,588
Standard AVB Financial Corp.	1,872	51,199
Sterling Bancorp	71,928	1,540,698
Sterling Bancorp, Inc.	7,691	75,295
Stock Yards Bancorp, Inc.	7,278	249,999
Summit Financial Group, Inc.	3,433	89,430
Summit State Bank	3,591	41,297
SunTrust Banks, Inc.	145,870	9,551,568
SVB Financial Group *	17,483	4,400,821
Synovus Financial Corp.	51,358	1,893,056
TCF Financial Corp.	56,386	1,247,822
Territorial Bancorp, Inc.	2,571	74,430
Texas Capital Bancshares, Inc. *	18,012	1,165,917
TFS Financial Corp.	19,782	329,172
The Bancorp, Inc. *	15,734	160,644
The Bank of Princeton	1,521	45,782
The Community Financial Corp.	1,476	45,195
The First Bancshares, Inc.	3,371	104,096
The First of Long Island Corp.	9,000	209,430
The PNC Financial Services Group, Inc.	148,743	20,367,379
Timberland Bancorp, Inc.	2,502	78,062
Tompkins Financial Corp.	4,024	324,616
Towne Bank	22,138	577,359
TriCo Bancshares	9,284	370,524
TriState Capital Holdings, Inc. *	7,935	184,568
Triumph Bancorp, Inc. *	6,748	209,255
TrustCo Bank Corp.	28,716	229,728
Trustmark Corp.	22,989	826,684
Two River Bancorp	2,741	41,745
U.S. Bancorp	492,880	26,280,362
UMB Financial Corp.	15,587	1,088,908
Umpqua Holdings Corp.	69,755	1,210,947
Union Bankshares Corp.	24,306	887,169
Union Bankshares, Inc.	1,200	47,412
United Bancshares, Inc.	1,936	44,567
United Bankshares, Inc.	35,319	1,385,918
United Community Banks, Inc.	27,233	764,703
United Community Financial Corp.	18,657	171,831
United Financial Bancorp, Inc.	15,207	200,580
United Security Bancshares	4,123	43,292
Unity Bancorp, Inc.	2,299	49,658
Univest Financial Corp.	10,769	271,594
Valley National Bancorp	107,799	1,129,734
Veritex Holdings, Inc.	15,506	411,064
Walker & Dunlop, Inc.	8,850	486,308
Washington Federal, Inc.	26,742	886,230
Washington Trust Bancorp, Inc.	4,849	251,227
Waterstone Financial, Inc.	9,659	159,953
Webster Financial Corp.	30,645	1,628,169
Wells Fargo & Co.	1,341,700	64,951,697
WesBanco, Inc.	17,140	691,085
West Bancorp, Inc.	4,641	97,322
Westamerica Bancorp	9,699	622,870
Western Alliance Bancorp *	33,495	1,600,391
Western New England Bancorp, Inc.	10,349	99,971
Wintrust Financial Corp.	17,847	1,359,941

₃₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
WSFS Financial Corp.	19,920	860,146
Zions Bancorp NA	60,271	2,973,168
		580,800,535

Capital Goods 7.0%
3M Co.	188,592	35,740,070
A.O. Smith Corp.	47,396	2,491,608
AAON, Inc.	13,579	681,802
AAR Corp.	12,256	413,885
Actuant Corp., Class A	23,196	593,354
Acuity Brands, Inc.	13,528	1,979,552
Advanced Drainage Systems, Inc.	12,146	340,695
AECOM *	52,814	1,790,395
Aegion Corp. *	12,259	244,077
Aerojet Rocketdyne Holdings, Inc. *	23,147	783,757
Aerovironment, Inc. *	6,804	466,482
AGCO Corp.	21,204	1,500,819
Air Lease Corp.	33,619	1,296,349
Aircastle Ltd.	16,101	320,732
Alamo Group, Inc.	3,373	349,578
Albany International Corp., Class A	9,212	681,412
Allegion plc	30,242	3,000,914
Allied Motion Technologies, Inc.	1,959	71,719
Allison Transmission Holdings, Inc.	39,145	1,834,335
Altra Industrial Motion Corp.	21,554	808,059
Ameresco, Inc., Class A *	5,440	81,926
American Superconductor Corp. *	5,600	61,824
American Woodmark Corp. *	4,841	435,351
AMETEK, Inc.	74,803	6,595,381
Apogee Enterprises, Inc.	9,481	382,084
Applied Industrial Technologies, Inc.	13,758	824,655
Arconic, Inc.	131,190	2,817,961
Arcosa, Inc.	14,726	458,420
Argan, Inc.	6,731	321,876
Armstrong Flooring, Inc. *	7,547	109,356
Armstrong World Industries, Inc.	16,287	1,411,594
Arotech Corp. *	14,875	43,138
Astec Industries, Inc.	6,955	234,453
Astronics Corp. *	7,256	241,915
Atkore International Group, Inc. *	15,845	392,322
Axon Enterprise, Inc. *	19,650	1,247,775
AZZ, Inc.	9,021	428,407
Babcock & Wilcox Enterprises, Inc. *	61,677	21,531
Barnes Group, Inc.	14,308	795,811
Beacon Roofing Supply, Inc. *	22,400	843,584
Bloom Energy Corp., Class A *(a)	6,100	83,082
Blue Bird Corp. *	6,024	104,275
BlueLinx Holdings, Inc. *	2,241	57,639
BMC Stock Holdings, Inc. *	24,109	496,163
Briggs & Stratton Corp.	12,415	151,463
Builders FirstSource, Inc. *	43,286	596,481
BWX Technologies, Inc.	33,163	1,694,629
CAI International, Inc. *	4,600	114,218
Capstone Turbine Corp. *	56,507	49,670
Carlisle Cos., Inc.	19,079	2,698,152
Caterpillar, Inc.	188,899	26,336,299
Chart Industries, Inc. *	10,540	930,366
CIRCOR International, Inc. *	5,887	198,510
Colfax Corp. *	32,483	980,012
Columbus McKinnon Corp.	5,837	229,744
Comfort Systems USA, Inc.	11,445	619,175
Commercial Vehicle Group, Inc. *	7,300	65,116
Construction Partners, Inc., Class A *	3,554	46,557
Continental Building Products, Inc. *	10,633	272,736
CPI Aerostructures, Inc. *	6,418	40,626
Crane Co.	15,778	1,341,919
CSW Industrials, Inc. *	4,946	296,513

Security	Number of Shares	Value ($)
Cubic Corp.	8,744	496,484
Cummins, Inc.	47,289	7,863,688
Curtiss-Wright Corp.	13,752	1,566,903
Deere & Co.	104,538	17,314,629
Donaldson Co., Inc.	41,916	2,244,183
Douglas Dynamics, Inc.	9,241	348,940
Dover Corp.	46,769	4,585,233
Ducommun, Inc. *	3,200	129,856
DXP Enterprises, Inc. *	4,731	202,913
Dycom Industries, Inc. *	9,706	481,321
Eaton Corp. plc	138,956	11,508,336
EMCOR Group, Inc.	18,306	1,540,267
Emerson Electric Co.	200,953	14,265,653
Encore Wire Corp.	7,393	438,331
Energous Corp. *(a)	5,300	26,871
Energy Recovery, Inc. *	9,780	95,159
EnerSys	14,027	970,528
Enphase Energy, Inc. *(a)	25,967	260,709
EnPro Industries, Inc.	7,907	587,648
ESCO Technologies, Inc.	8,457	634,275
EVI Industries, Inc. (a)	1,400	51,100
Evoqua Water Technologies Corp. *	17,636	240,202
Fastenal Co.	93,551	6,600,023
Federal Signal Corp.	18,109	520,996
Flowserve Corp.	42,304	2,074,165
Fluor Corp.	46,688	1,854,914
Fortive Corp.	95,854	8,276,034
Fortune Brands Home & Security, Inc.	47,275	2,495,174
Foundation Building Materials, Inc. *	5,200	70,668
Franklin Electric Co., Inc.	12,105	591,450
FreightCar America, Inc. *	3,100	21,452
Gardner Denver Holdings, Inc. *	41,048	1,385,370
Gates Industrial Corp. plc *	17,841	286,883
GATX Corp.	12,164	938,209
Gencor Industries, Inc. *	3,540	42,728
Generac Holdings, Inc. *	19,509	1,072,800
General Dynamics Corp.	88,671	15,847,281
General Electric Co.	2,860,541	29,091,702
General Finance Corp. *	3,300	30,690
Gibraltar Industries, Inc. *	10,558	418,836
Global Brass & Copper Holdings, Inc.	6,304	273,531
GMS, Inc. *	10,209	179,883
Graco, Inc.	55,223	2,830,179
GrafTech International Ltd.	17,928	205,276
Graham Corp.	2,809	58,146
Granite Construction, Inc.	14,427	647,628
Great Lakes Dredge & Dock Corp. *	19,016	194,534
Griffon Corp.	9,621	188,764
H&E Equipment Services, Inc.	9,632	292,909
Harris Corp.	39,049	6,579,756
Harsco Corp. *	23,810	539,058
HD Supply Holdings, Inc. *	59,223	2,705,899
HEICO Corp.	12,901	1,361,443
HEICO Corp., Class A	23,537	2,104,914
Herc Holdings, Inc. *	7,118	342,803
Hexcel Corp.	27,236	1,925,858
Hillenbrand, Inc.	22,065	949,236
Honeywell International, Inc.	238,585	41,425,514
Houston Wire & Cable Co. *	8,228	50,931
Hubbell, Inc.	17,977	2,293,865
Huntington Ingalls Industries, Inc.	13,735	3,057,136
Hurco Cos., Inc.	2,000	78,660
Hyster-Yale Materials Handling, Inc.	3,600	239,832
IDEX Corp.	24,531	3,843,026
IES Holdings, Inc. *	4,126	72,246
Illinois Tool Works, Inc.	98,781	15,373,287
Ingersoll-Rand plc	79,267	9,718,927
Insteel Industries, Inc.	5,095	106,689

₃₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
ITT, Inc.	29,658	1,795,792
Jacobs Engineering Group, Inc.	38,205	2,977,698
JELD-WEN Holding, Inc. *	20,479	404,460
John Bean Technologies Corp.	10,923	1,199,236
Johnson Controls International plc	297,872	11,170,200
Kadant, Inc.	3,843	376,960
Kaman Corp.	8,429	521,839
Kennametal, Inc.	29,179	1,187,585
Kratos Defense & Security Solutions, Inc. *	30,097	477,940
L3 Technologies, Inc.	26,272	5,742,534
Lawson Products, Inc. *	2,101	68,997
Lennox International, Inc.	11,635	3,158,321
Lincoln Electric Holdings, Inc.	21,404	1,867,927
Lindsay Corp.	3,100	263,500
LiqTech International, Inc. *	5,399	39,089
Lockheed Martin Corp.	80,493	26,830,732
LSI Industries, Inc.	14,777	50,242
Lydall, Inc. *	5,500	135,355
Manitex International, Inc. *	4,549	34,754
Masco Corp.	97,883	3,823,310
Masonite International Corp. *	10,062	518,092
MasTec, Inc. *	19,794	1,002,566
Mercury Systems, Inc. *	15,234	1,112,387
Meritor, Inc. *	27,700	672,002
Milacron Holdings Corp. *	20,539	300,075
Miller Industries, Inc.	3,410	112,803
Moog, Inc., Class A	10,366	970,672
MRC Global, Inc. *	31,160	540,003
MSC Industrial Direct Co., Inc., Class A	14,699	1,229,571
Mueller Industries, Inc.	19,369	564,994
Mueller Water Products, Inc., Class A	58,600	628,778
MYR Group, Inc. *	4,813	173,990
National Presto Industries, Inc.	1,664	177,216
Navistar International Corp. *	20,382	695,841
NCI Building Systems, Inc. *	14,252	81,521
NN, Inc.	15,065	136,188
Nordson Corp.	16,932	2,471,225
Northrop Grumman Corp.	55,589	16,115,807
Northwest Pipe Co. *	2,896	69,417
NOW, Inc. *	41,172	601,935
NV5 Global, Inc. *	2,552	161,644
nVent Electric plc	54,394	1,520,312
Omega Flex, Inc.	832	70,437
Orion Group Holdings, Inc. *	8,139	21,080
Oshkosh Corp.	22,462	1,855,137
Owens Corning	36,549	1,873,867
PACCAR, Inc.	112,540	8,065,742
Park-Ohio Holdings Corp.	3,600	131,868
Parker-Hannifin Corp.	42,416	7,680,689
Patrick Industries, Inc. *	8,643	431,026
Pentair plc	51,196	1,996,132
PGT Innovations, Inc. *	19,928	292,144
Plug Power, Inc. *(a)	108,526	270,230
Powell Industries, Inc.	2,862	83,714
Preformed Line Products Co.	1,000	56,390
Primoris Services Corp.	13,954	305,872
Proto Labs, Inc. *	8,737	959,235
Quanex Building Products Corp.	10,061	168,220
Quanta Services, Inc.	44,328	1,799,717
Raven Industries, Inc.	11,752	457,270
Raytheon Co.	92,695	16,461,705
RBC Bearings, Inc. *	7,984	1,098,199
Regal Beloit Corp.	14,878	1,265,820
Resideo Technologies, Inc. *	41,983	953,014
REV Group, Inc.	7,500	95,175
Rexnord Corp. *	36,665	1,048,619
Rockwell Automation, Inc.	39,192	7,082,386
Roper Technologies, Inc.	33,843	12,173,327

Security	Number of Shares	Value ($)
Rush Enterprises, Inc., Class A	8,204	347,932
Rush Enterprises, Inc., Class B	750	31,500
Sensata Technologies Holding plc *	53,380	2,665,797
Simpson Manufacturing Co., Inc.	12,975	826,248
SiteOne Landscape Supply, Inc. *	13,439	904,445
Snap-on, Inc.	18,273	3,074,980
Spartan Motors, Inc.	9,445	87,839
Spirit AeroSystems Holdings, Inc., Class A	34,344	2,984,494
SPX Corp. *	13,882	506,693
SPX FLOW, Inc. *	13,487	484,723
Standex International Corp.	4,408	291,237
Stanley Black & Decker, Inc.	50,014	7,332,052
Sterling Construction Co., Inc. *	7,334	99,449
Sun Hydraulics Corp.	9,064	474,410
Sunrun, Inc. *	26,305	400,099
Systemax, Inc.	3,800	86,298
Tecogen, Inc. *	11,344	42,540
Teledyne Technologies, Inc. *	11,737	2,916,762
Tennant Co.	5,863	389,186
Terex Corp.	21,913	730,360
Textron, Inc.	77,070	4,084,710
The Boeing Co.	172,404	65,115,267
The Eastern Co.	1,864	53,422
The ExOne Co. *	4,754	42,120
The Goldfield Corp. *	16,952	39,668
The Gorman-Rupp Co.	5,933	197,569
The Greenbrier Cos., Inc.	11,186	397,439
The KeyW Holding Corp. *	15,259	173,037
The Manitowoc Co., Inc. *	12,331	220,232
The Middleby Corp. *	18,359	2,425,775
The Timken Co.	24,113	1,156,218
The Toro Co.	34,675	2,536,476
Thermon Group Holdings, Inc. *	9,540	246,037
Titan International, Inc.	13,787	95,544
Titan Machinery, Inc. *	5,599	96,303
TPI Composites, Inc. *	7,622	235,901
Transcat, Inc. *	2,013	46,400
TransDigm Group, Inc. *	16,097	7,767,124
Trex Co., Inc. *	19,919	1,379,789
TriMas Corp. *	15,539	480,621
Trinity Industries, Inc.	44,815	966,211
Triton International Ltd.	20,019	659,626
Triumph Group, Inc.	16,938	401,939
Tutor Perini Corp. *	11,769	235,027
Twin Disc, Inc. *	3,405	64,491
Ultralife Corp. *	4,422	51,074
United Rentals, Inc. *	26,091	3,676,744
United Technologies Corp.	266,092	37,947,380
Univar, Inc. *	42,234	943,085
Universal Forest Products, Inc.	22,482	830,710
Valmont Industries, Inc.	6,716	905,585
Vectrus, Inc. *	3,418	138,600
Veritiv Corp. *	3,278	91,423
Vicor Corp. *	4,790	179,673
Vivint Solar, Inc. *	9,172	49,621
W.W. Grainger, Inc.	14,832	4,182,624
Wabash National Corp.	19,725	297,453
WABCO Holdings, Inc. *	16,865	2,233,601
Wabtec Corp.	45,433	3,365,222
Watsco, Inc.	10,632	1,684,853
Watts Water Technologies, Inc., Class A	8,225	703,978
Welbilt, Inc. *	47,359	797,052
Wesco Aircraft Holdings, Inc. *	20,800	175,552
WESCO International, Inc. *	15,809	904,907
Willis Lease Finance Corp. *	1,177	58,520
WillScot Corp. *	16,161	217,689

₃₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Woodward, Inc.	18,544	2,019,442
Xylem, Inc.	58,802	4,904,087
		684,488,227

Commercial & Professional Services 1.1%
ABM Industries, Inc.	23,031	874,487
Acacia Research Corp. *	15,357	48,835
ACCO Brands Corp.	34,735	317,478
ADT, Inc.	42,276	278,599
Advanced Disposal Services, Inc. *	23,888	772,538
Aqua Metals, Inc. *	12,685	31,839
ASGN, Inc. *	16,990	1,071,050
Barrett Business Services, Inc.	3,084	224,700
BG Staffing, Inc.	2,500	58,425
Brady Corp., Class A	17,257	841,969
BrightView Holdings, Inc. *	6,100	97,844
Casella Waste Systems, Inc., Class A *	15,213	567,749
CBIZ, Inc. *	15,664	302,472
CECO Environmental Corp. *	9,324	72,354
Cintas Corp.	27,979	6,075,360
Clean Harbors, Inc. *	17,394	1,321,944
Copart, Inc. *	66,325	4,464,999
CoStar Group, Inc. *	12,049	5,979,316
Covanta Holding Corp.	39,133	707,133
CRA International, Inc.	2,542	132,387
Deluxe Corp.	14,100	630,552
DLH Holdings Corp. *	7,588	47,425
Ennis, Inc.	11,953	241,212
Equifax, Inc.	39,669	4,996,311
Exponent, Inc.	15,952	903,202
Forrester Research, Inc.	3,376	171,703
Franklin Covey Co. *	5,656	161,253
FTI Consulting, Inc. *	12,563	1,067,604
GP Strategies Corp. *	5,086	64,745
Healthcare Services Group, Inc.	23,875	808,169
Heidrick & Struggles International, Inc.	5,759	206,057
Heritage-Crystal Clean, Inc. *	3,533	101,503
Herman Miller, Inc.	18,448	716,151
Hill International, Inc. *	13,292	35,224
HNI Corp.	16,018	588,021
Hudson Technologies, Inc. *	26,118	35,259
Huron Consulting Group, Inc. *	6,590	318,495
ICF International, Inc.	6,209	483,495
IHS Markit Ltd. *	118,084	6,761,490
Insperity, Inc.	11,850	1,416,786
Interface, Inc.	19,952	320,030
KAR Auction Services, Inc.	42,669	2,409,945
Kelly Services, Inc., Class A	13,493	300,354
Kforce, Inc.	6,775	244,035
Kimball International, Inc., Class B	11,882	186,072
Knoll, Inc.	13,937	304,384
Korn Ferry	18,537	871,610
LSC Communications, Inc.	9,950	69,551
ManpowerGroup, Inc.	20,786	1,996,287
Matthews International Corp., Class A	10,170	407,410
McGrath RentCorp	8,505	527,310
Mistras Group, Inc. *	5,000	68,550
Mobile Mini, Inc.	15,499	558,274
MSA Safety, Inc.	10,934	1,201,756
Multi-Color Corp.	3,869	193,063
Navigant Consulting, Inc.	14,000	319,620
Nielsen Holdings plc	115,680	2,953,310
NRC Group Holdings Corp. *	5,211	46,534
PICO Holdings, Inc. *	7,559	86,399
Pitney Bowes, Inc.	56,836	404,104
Quad Graphics, Inc.	9,800	119,658
Republic Services, Inc.	69,582	5,762,781

Security	Number of Shares	Value ($)
Resources Connection, Inc.	11,300	181,478
Robert Half International, Inc.	39,218	2,435,046
Rollins, Inc.	46,601	1,802,061
RR Donnelley & Sons Co.	19,875	91,822
SP Plus Corp. *	8,505	293,593
Steelcase, Inc., Class A	29,265	505,992
Stericycle, Inc. *	28,923	1,688,814
Team, Inc. *	8,225	139,002
Tetra Tech, Inc.	19,037	1,232,075
The Brink's Co.	17,306	1,383,269
TransUnion	60,266	4,197,527
TriNet Group, Inc. *	15,640	974,998
TrueBlue, Inc. *	14,540	351,286
UniFirst Corp.	5,552	877,938
Upwork, Inc. *	21,190	423,588
US Ecology, Inc.	7,422	452,816
Verisk Analytics, Inc.	53,218	7,511,189
Viad Corp.	7,132	437,263
VSE Corp.	2,601	79,513
WageWorks, Inc. *	12,366	603,337
Waste Management, Inc.	127,644	13,701,307
Willdan Group, Inc. *	4,309	170,335
		102,881,421

Consumer Durables & Apparel 1.4%
Acushnet Holdings Corp.	11,316	285,276
American Outdoor Brands Corp. *	15,020	147,947
Beazer Homes USA, Inc. *	14,438	191,881
Brunswick Corp.	28,630	1,466,142
Callaway Golf Co.	33,382	586,188
Capri Holdings Ltd. *	49,787	2,194,611
Carter's, Inc.	14,934	1,581,660
Cavco Industries, Inc. *	3,237	403,880
Century Communities, Inc. *	7,618	193,726
Clarus Corp.	6,000	80,520
Columbia Sportswear Co.	9,203	920,024
Crocs, Inc. *	24,211	674,276
CSS Industries, Inc.	2,830	19,838
D.R. Horton, Inc.	113,022	5,008,005
Deckers Outdoor Corp. *	9,598	1,518,500
Delta Apparel, Inc. *	1,907	45,901
Escalade, Inc.	3,955	47,618
Ethan Allen Interiors, Inc.	7,327	161,927
Flexsteel Industries, Inc.	1,900	41,154
Fossil Group, Inc. *	12,996	169,858
G-III Apparel Group Ltd. *	12,985	560,303
Garmin Ltd.	39,050	3,348,147
GoPro, Inc., Class A *	41,540	245,501
Green Brick Partners, Inc. *	7,100	63,474
Hamilton Beach Brands Holding Co., Class A	1,750	31,675
Hanesbrands, Inc.	117,091	2,115,834
Hasbro, Inc.	38,186	3,889,626
Helen of Troy Ltd. *	8,312	1,196,928
Hooker Furniture Corp.	5,161	153,849
Hovnanian Enterprises, Inc., Class A *	2,020	30,744
Installed Building Products, Inc. *	6,876	330,254
iRobot Corp. *	9,024	934,345
Johnson Outdoors, Inc., Class A	1,700	130,339
KB Home	30,005	777,429
La-Z-Boy, Inc.	16,047	526,342
Lakeland Industries, Inc. *	4,088	51,877
Legacy Housing Corp. *	3,213	38,974
Leggett & Platt, Inc.	41,687	1,640,800
Lennar Corp., B Shares	4,272	178,228
Lennar Corp., Class A	94,598	4,921,934
LGI Homes, Inc. *	5,899	408,860

₃₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Libbey, Inc. *	7,232	18,080
Lifetime Brands, Inc.	5,000	47,300
lululemon Athletica, Inc. *	34,639	6,108,588
M.D.C. Holdings, Inc.	14,792	452,043
M/I Homes, Inc. *	9,900	278,883
Malibu Boats, Inc., Class A *	6,152	256,046
Marine Products Corp.	3,933	59,664
MasterCraft Boat Holdings, Inc. *	4,993	123,527
Mattel, Inc. *	112,078	1,366,231
Meritage Homes Corp. *	11,524	589,453
Mohawk Industries, Inc. *	20,552	2,800,210
Movado Group, Inc.	5,167	184,204
Newell Brands, Inc.	132,354	1,903,250
NIKE, Inc., Class B	413,420	36,310,679
NVR, Inc. *	1,102	3,474,033
Oxford Industries, Inc.	5,331	442,793
Polaris Industries, Inc.	19,417	1,871,799
PulteGroup, Inc.	84,990	2,673,785
PVH Corp.	24,492	3,159,223
Ralph Lauren Corp.	17,866	2,350,808
Rocky Brands, Inc.	1,800	45,918
Roku, Inc. *	26,777	1,702,749
Skechers U.S.A., Inc., Class A *	43,313	1,371,290
Skyline Champion Corp.	16,024	338,267
Sonos, Inc. *	4,100	44,772
Steven Madden Ltd.	24,117	876,653
Sturm, Ruger & Co., Inc.	7,077	396,241
Superior Group of Cos., Inc.	3,200	53,568
Tapestry, Inc.	94,488	3,049,128
Taylor Morrison Home Corp., Class A *	36,816	712,758
Tempur Sealy International, Inc. *	14,925	916,395
The Lovesac Co. *	1,800	70,911
The New Home Co., Inc. *	9,661	44,537
Toll Brothers, Inc.	42,269	1,610,449
TopBuild Corp. *	12,215	870,074
TRI Pointe Group, Inc. *	42,455	554,038
Tupperware Brands Corp.	14,971	356,310
Turtle Beach Corp. *(a)	2,910	29,798
Under Armour, Inc., Class A *	59,372	1,370,899
Under Armour, Inc., Class C *	64,286	1,332,006
Unifi, Inc. *	4,248	85,810
Universal Electronics, Inc. *	4,081	155,282
Vera Bradley, Inc. *	5,909	72,562
VF Corp.	106,683	10,071,942
Vista Outdoor, Inc. *	17,574	151,664
Vuzix Corp. *(a)	7,800	18,486
Whirlpool Corp.	20,507	2,846,782
William Lyon Homes, Class A *	9,666	162,969
Wolverine World Wide, Inc.	30,060	1,106,509
YETI Holdings, Inc. *(a)	5,910	210,869
ZAGG, Inc. *	8,000	65,920
		132,480,550

Consumer Services 2.3%
Adtalem Global Education, Inc. *	20,276	1,000,012
American Public Education, Inc. *	5,600	179,200
Aramark	79,252	2,463,152
Aspen Group, Inc. *	8,985	40,972
BBX Capital Corp.	20,416	113,105
BJ's Restaurants, Inc.	6,241	311,488
Bloomin' Brands, Inc.	28,060	560,919
Bluegreen Vacations Corp. (a)	2,223	33,790
Boyd Gaming Corp.	25,952	746,899
Bright Horizons Family Solutions, Inc. *	19,474	2,495,593
Brinker International, Inc.	12,650	541,040
Caesars Entertainment Corp. *	194,922	1,824,470
Career Education Corp. *	25,565	464,005

Security	Number of Shares	Value ($)
Carnival Corp.	131,499	7,214,035
Carriage Services, Inc.	6,911	121,288
Carrols Restaurant Group, Inc. *	10,038	98,473
Century Casinos, Inc. *	7,935	72,209
Chegg, Inc. *	33,304	1,187,288
Chipotle Mexican Grill, Inc. *	7,994	5,500,192
Choice Hotels International, Inc.	11,987	995,400
Churchill Downs, Inc.	12,411	1,251,649
Chuy's Holdings, Inc. *	5,160	102,632
Collectors Universe, Inc.	2,500	43,475
Cracker Barrel Old Country Store, Inc.	7,610	1,284,111
Darden Restaurants, Inc.	40,724	4,789,142
Dave & Buster's Entertainment, Inc.	11,742	667,415
Del Frisco's Restaurant Group, Inc. *	14,779	99,019
Del Taco Restaurants, Inc. *	10,395	104,470
Denny's Corp. *	21,100	392,882
Dine Brands Global, Inc.	6,527	578,684
Domino's Pizza, Inc.	13,564	3,670,147
Drive Shack, Inc. *	17,215	88,485
Dunkin' Brands Group, Inc.	26,376	1,968,441
El Pollo Loco Holdings, Inc. *	6,221	79,504
Eldorado Resorts, Inc. *	21,543	1,063,578
Everi Holdings, Inc. *	19,772	203,454
Extended Stay America, Inc.	60,722	1,087,531
Fiesta Restaurant Group, Inc. *	7,980	101,027
frontdoor, Inc. *	27,504	969,241
Golden Entertainment, Inc. *	6,136	96,519
Graham Holdings Co., Class B	1,451	1,078,717
Grand Canyon Education, Inc. *	16,295	1,888,428
H&R Block, Inc.	65,033	1,769,548
Hilton Grand Vacations, Inc. *	31,058	995,098
Hilton Worldwide Holdings, Inc.	95,906	8,342,863
Houghton Mifflin Harcourt Co. *	37,061	264,245
Hyatt Hotels Corp., Class A	13,340	1,023,578
Inspired Entertainment, Inc. *	6,626	52,147
International Speedway Corp., Class A	7,430	327,812
J Alexander's Holdings, Inc. *	6,429	70,655
Jack in the Box, Inc.	8,383	646,329
K12, Inc. *	12,100	364,452
Las Vegas Sands Corp.	121,245	8,129,477
Laureate Education, Inc., Class A *	21,137	332,696
Lincoln Educational Services Corp. *	14,491	44,053
Lindblad Expeditions Holdings, Inc. *	7,500	121,575
Marriott International, Inc., Class A	92,462	12,613,666
Marriott Vacations Worldwide Corp.	13,189	1,393,154
McDonald's Corp.	250,707	49,532,182
MGM Resorts International	169,195	4,505,663
Monarch Casino & Resort, Inc. *	3,610	154,111
Nathan's Famous, Inc.	842	58,140
Noodles & Co. *	12,000	85,800
Norwegian Cruise Line Holdings Ltd. *	71,756	4,046,321
Papa John's International, Inc. (a)	7,000	358,120
Papa Murphy's Holdings, Inc. *	7,786	50,375
Penn National Gaming, Inc. *	35,224	763,304
Planet Fitness, Inc., Class A *	27,197	2,058,813
Playa Hotels & Resorts N.V. *	16,595	132,760
PlayAGS, Inc. *	10,460	252,295
Potbelly Corp. *	7,813	69,536
RCI Hospitality Holdings, Inc.	2,500	56,925
Red Lion Hotels Corp. *	7,000	55,440
Red Robin Gourmet Burgers, Inc. *	3,624	116,077
Red Rock Resorts, Inc., Class A	20,977	565,959
Regis Corp. *	10,203	191,000
Royal Caribbean Cruises Ltd.	56,450	6,827,063
Ruth's Hospitality Group, Inc.	8,878	230,650
Scientific Games Corp., Class A *	21,201	490,379
SeaWorld Entertainment, Inc. *	21,055	560,484
Service Corp. International	60,092	2,500,428

₃₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
ServiceMaster Global Holdings, Inc. *	44,154	2,164,871
Shake Shack, Inc., Class A *	8,483	520,008
Six Flags Entertainment Corp.	24,020	1,275,222
Sotheby's *	10,738	452,929
Starbucks Corp.	407,315	31,640,229
Strategic Education, Inc.	6,759	968,903
Texas Roadhouse, Inc.	21,590	1,166,076
The Cheesecake Factory, Inc.	14,852	736,956
The Habit Restaurants, Inc., Class A *	6,100	65,026
The Wendy's Co.	61,459	1,143,752
Twin River Worldwide Holdings, Inc. *	8,850	285,855
Universal Technical Institute, Inc. *	13,059	44,270
Vail Resorts, Inc.	13,151	3,009,606
Weight Watchers International, Inc. *	13,623	278,182
Wingstop, Inc.	10,514	791,389
Wyndham Destinations, Inc.	32,092	1,397,928
Wyndham Hotels & Resorts, Inc.	33,142	1,846,672
Wynn Resorts Ltd.	32,024	4,625,867
Yum! Brands, Inc.	99,890	10,427,517
		220,566,512

Diversified Financials 5.1%
A-Mark Precious Metals, Inc. *	3,562	40,108
Affiliated Managers Group, Inc.	17,171	1,904,607
AG Mortgage Investment Trust, Inc.	14,385	246,127
AGNC Investment Corp.	179,265	3,189,124
Ally Financial, Inc.	133,659	3,971,009
American Express Co.	226,799	26,587,647
Ameriprise Financial, Inc.	44,573	6,541,979
Annaly Capital Management, Inc.	466,532	4,707,308
Anworth Mortgage Asset Corp.	30,522	127,887
Apollo Commercial Real Estate Finance, Inc.	37,142	696,041
Arbor Realty Trust, Inc. (a)	20,193	275,836
Ares Commercial Real Estate Corp.	10,752	163,430
Ares Management Corp., Class A	20,332	497,117
Arlington Asset Investment Corp., Class A	7,300	57,305
ARMOUR Residential REIT, Inc.	18,030	344,012
Artisan Partners Asset Management, Inc., Class A	15,052	426,574
Ashford, Inc. *	778	43,101
Associated Capital Group, Inc., Class A	1,241	51,266
AXA Equitable Holdings, Inc.	81,475	1,848,668
B. Riley Financial, Inc.	6,039	109,487
Berkshire Hathaway, Inc., Class B *	637,460	138,143,957
BGC Partners, Inc., Class A	93,111	502,799
BlackRock, Inc.	39,919	19,370,296
Blackstone Mortgage Trust, Inc., Class A	39,972	1,422,603
Blucora, Inc. *	15,753	551,355
Cannae Holdings, Inc. *	23,093	592,797
Capital One Financial Corp.	154,128	14,307,702
Capstead Mortgage Corp.	28,021	240,700
Cboe Global Markets, Inc.	36,360	3,694,540
Cherry Hill Mortgage Investment Corp.	6,786	117,126
Chimera Investment Corp.	57,935	1,110,614
CME Group, Inc.	117,212	20,969,227
Cohen & Steers, Inc.	6,489	325,423
Colony Credit Real Estate, Inc.	30,690	476,923
Consumer Portfolio Services, Inc. *	10,696	37,650
Cowen, Inc. *	8,211	137,534
Credit Acceptance Corp. *	3,958	1,964,039
Diamond Hill Investment Group, Inc.	1,017	146,936
Discover Financial Services	106,996	8,719,104
Donnelley Financial Solutions, Inc. *	9,665	147,971
Dynex Capital, Inc.	18,815	114,772
E*TRADE Financial Corp.	81,699	4,138,871
Eaton Vance Corp.	38,920	1,617,904

Security	Number of Shares	Value ($)
Elevate Credit, Inc. *	5,396	24,174
Ellington Residential Mortgage REIT	3,804	44,963
Encore Capital Group, Inc. *	8,553	241,708
Enova International, Inc. *	10,313	282,886
Evercore, Inc., Class A	13,443	1,309,752
Exantas Capital Corp.	9,433	103,291
EZCORP, Inc., Class A *	14,614	158,854
FactSet Research Systems, Inc.	12,375	3,413,891
Federated Investors, Inc., Class B	31,576	970,330
FGL Holdings	56,622	482,986
FirstCash, Inc.	15,033	1,468,423
Focus Financial Partners, Inc., Class A *	5,800	217,500
Franklin Resources, Inc.	97,861	3,385,012
GAIN Capital Holdings, Inc.	6,506	34,287
GAMCO Investors, Inc., Class A	2,351	50,970
Granite Point Mortgage Trust, Inc.	14,601	280,777
Great Ajax Corp.	5,000	71,600
Great Elm Capital Group, Inc. *	11,791	50,407
Green Dot Corp., Class A *	15,760	1,005,015
Greenhill & Co., Inc.	6,539	135,423
Hamilton Lane, Inc., Class A	7,159	349,789
Houlihan Lokey, Inc.	12,478	615,415
Hunt Cos. Finance Trust, Inc.	13,059	46,359
Interactive Brokers Group, Inc., Class A	25,219	1,367,879
Intercontinental Exchange, Inc.	185,865	15,120,118
INTL. FCStone, Inc. *	6,044	245,145
Invesco Ltd.	132,508	2,911,201
Invesco Mortgage Capital, Inc.	45,888	748,892
Janus Henderson Group plc	55,258	1,385,318
Jefferies Financial Group, Inc.	89,692	1,844,964
KKR & Co., Inc., Class A	176,279	4,310,022
KKR Real Estate Finance Trust, Inc.	8,629	174,047
Ladder Capital Corp.	30,130	524,262
Ladenburg Thalmann Financial Services, Inc.	36,436	133,720
Lazard Ltd., Class A	43,222	1,680,471
Legg Mason, Inc.	27,907	933,489
LendingClub Corp. *	150,465	478,479
LPL Financial Holdings, Inc.	28,846	2,137,200
MarketAxess Holdings, Inc.	12,472	3,471,332
Marlin Business Services Corp.	4,000	87,160
MFA Financial, Inc.	151,043	1,134,333
Moelis & Co., Class A	14,035	574,733
Moody's Corp.	54,232	10,663,096
Morgan Stanley	426,021	20,555,513
Morningstar, Inc.	5,601	803,463
MSCI, Inc.	27,482	6,193,893
Nasdaq, Inc.	38,115	3,514,203
Navient Corp.	76,443	1,032,745
Nelnet, Inc., Class A	6,877	399,210
New Residential Investment Corp.	131,252	2,206,346
New York Mortgage Trust, Inc.	63,123	397,675
Northern Trust Corp.	71,330	7,029,572
On Deck Capital, Inc. *	20,000	109,200
OneMain Holdings, Inc.	26,737	908,256
Oppenheimer Holdings, Inc., Class A	3,500	91,875
Orchid Island Capital, Inc.	12,908	84,806
PennyMac Mortgage Investment Trust	17,996	377,916
Piper Jaffray Cos.	4,986	401,872
PJT Partners, Inc., Class A	6,501	280,323
PRA Group, Inc. *	14,276	401,441
Pzena Investment Management, Inc., Class A	8,430	83,879
Raymond James Financial, Inc.	41,168	3,769,754
Ready Capital Corp.	8,683	131,200
Redwood Trust, Inc.	27,911	456,624
Regional Management Corp. *	3,000	74,310
S&P Global, Inc.	81,231	17,924,432

₃₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Safeguard Scientifics, Inc. *	7,000	80,080
Santander Consumer USA Holdings, Inc.	35,217	751,883
SEI Investments Co.	43,526	2,369,991
Siebert Financial Corp. *(a)	3,682	38,551
Silvercrest Asset Management Group, Inc., Class A	3,213	46,717
SLM Corp.	142,528	1,448,084
Starwood Property Trust, Inc.	86,733	1,999,196
State Street Corp.	123,368	8,347,079
Stifel Financial Corp.	24,275	1,448,489
Synchrony Financial	214,607	7,440,425
T. Rowe Price Group, Inc.	76,914	8,268,255
TD Ameritrade Holding Corp.	88,860	4,672,259
The Bank of New York Mellon Corp.	287,404	14,272,483
The Charles Schwab Corp. (b)	387,915	17,758,749
The Goldman Sachs Group, Inc.	112,194	23,102,988
TheStreet, Inc.	2,023	14,141
TPG RE Finance Trust, Inc.	16,170	318,711
Two Harbors Investment Corp.	86,216	1,194,954
Victory Capital Holdings, Inc., Class A *	3,900	64,311
Virtu Financial, Inc., Class A	21,937	539,211
Virtus Investment Partners, Inc.	2,646	324,426
Voya Financial, Inc.	48,530	2,663,812
Waddell & Reed Financial, Inc., Class A	25,984	486,680
Western Asset Mortgage Capital Corp.	15,107	158,926
Westwood Holdings Group, Inc.	2,653	83,012
WisdomTree Investments, Inc.	38,043	273,910
World Acceptance Corp. *	2,084	270,899
		501,015,879

Energy 4.9%
Adams Resources & Energy, Inc.	1,166	42,151
Alta Mesa Resources, Inc., Class A *	30,000	6,600
Altus Midstream Co., Class A *	17,889	90,339
Anadarko Petroleum Corp.	163,033	11,876,954
Antero Resources Corp. *	74,733	541,814
Apache Corp.	123,128	4,052,143
Apergy Corp. *	24,002	952,639
Arch Coal, Inc., Class A	6,370	617,763
Archrock, Inc.	37,700	381,147
Aspen Aerogels, Inc. *	14,261	58,328
Baker Hughes, a GE Co.	166,164	3,991,259
Basic Energy Services, Inc. *	6,128	15,443
Berry Petroleum Corp.	3,687	41,884
Bonanza Creek Energy, Inc. *	5,626	135,418
Bristow Group, Inc. *	8,868	4,478
C&J Energy Services, Inc. *	25,379	356,575
Cabot Oil & Gas Corp.	137,177	3,551,513
Cactus, Inc., Class A *	15,987	580,328
California Resources Corp. *	16,680	351,614
Callon Petroleum Co. *	67,969	510,447
CARBO Ceramics, Inc. *	6,353	17,280
Carrizo Oil & Gas, Inc. *	27,793	356,306
Centennial Resource Development, Inc., Class A *	64,330	677,395
Cheniere Energy, Inc. *	71,820	4,621,617
Chesapeake Energy Corp. *	337,879	983,228
Chevron Corp.	622,989	74,796,059
Cimarex Energy Co.	32,581	2,237,011
Clean Energy Fuels Corp. *	36,000	113,040
CNX Resources Corp. *	70,060	627,738
Comstock Resources, Inc. *	6,806	41,517
Concho Resources, Inc.	66,137	7,630,887
ConocoPhillips	372,519	23,513,399
CONSOL Energy, Inc. *	8,270	280,353
Contango Oil & Gas Co. *	14,038	42,395
Continental Resources, Inc. *	28,202	1,297,010

Security	Number of Shares	Value ($)
Contura Energy, Inc. *	1,810	101,994
Core Laboratories N.V.	14,663	929,488
CVR Energy, Inc.	8,752	399,179
Dawson Geophysical Co. *	14,633	40,972
Delek US Holdings, Inc.	23,379	866,426
Denbury Resources, Inc. *	137,039	305,597
Devon Energy Corp.	146,058	4,694,304
Diamond Offshore Drilling, Inc. *	27,749	269,443
Diamondback Energy, Inc.	50,163	5,336,842
DMC Global, Inc.	4,394	304,504
Dril-Quip, Inc. *	13,860	603,742
Earthstone Energy, Inc., Class A *	5,613	37,607
Ensco Rowan plc, Class A	68,457	956,344
EOG Resources, Inc.	190,348	18,282,925
EQT Corp.	84,261	1,723,137
Equitrans Midstream Corp. *	66,172	1,378,363
Era Group, Inc. *	6,921	66,718
Evolution Petroleum Corp.	8,679	61,013
Exterran Corp. *	9,906	140,863
Extraction Oil & Gas, Inc. *	30,147	141,691
Exxon Mobil Corp.	1,389,276	111,531,077
Falcon Minerals Corp.	13,000	112,710
Forum Energy Technologies, Inc. *	33,550	200,629
Frank's International N.V. *	23,486	137,158
FTS International, Inc. *	9,805	101,482
Goodrich Petroleum Corp. *	3,169	43,384
Green Plains, Inc.	13,339	231,698
Gulf Island Fabrication, Inc. *	4,500	38,700
Gulfport Energy Corp. *	53,493	350,379
Hallador Energy Co.	8,706	44,923
Halliburton Co.	287,406	8,142,212
Helix Energy Solutions Group, Inc. *	39,464	308,609
Helmerich & Payne, Inc.	34,941	2,044,747
Hess Corp.	84,741	5,433,593
HighPoint Resources Corp. *	33,805	92,626
HollyFrontier Corp.	51,708	2,468,023
Independence Contract Drilling, Inc. *	11,500	32,545
International Seaways, Inc. *	8,633	153,840
ION Geophysical Corp. *	3,676	47,016
Isramco, Inc. *	437	50,670
Jagged Peak Energy, Inc. *	18,587	196,465
Keane Group, Inc. *	14,562	152,755
Kinder Morgan, Inc.	636,058	12,638,472
KLX Energy Services Holdings, Inc. *	8,644	242,464
Kosmos Energy Ltd.	71,067	475,438
Laredo Petroleum, Inc. *	45,079	136,139
Legacy Reserves, Inc. *	36,523	16,435
Liberty Oilfield Services, Inc., Class A	10,447	155,765
Lilis Energy, Inc. *	28,432	36,393
Lonestar Resources US, Inc., Class A *	6,800	27,064
Magnolia Oil & Gas Corp. *	34,040	448,647
Mammoth Energy Services, Inc.	4,000	62,360
Marathon Oil Corp.	269,403	4,590,627
Marathon Petroleum Corp.	220,693	13,433,583
Matador Resources Co. *	33,967	668,810
Matrix Service Co. *	8,000	156,880
McDermott International, Inc. *	55,783	451,284
Montage Resources Corp. *	2,898	32,226
Murphy Oil Corp.	55,134	1,501,850
Nabors Industries Ltd.	129,406	452,921
NACCO Industries, Inc., Class A	1,900	77,691
National Oilwell Varco, Inc.	123,989	3,241,072
Natural Gas Services Group, Inc. *	4,213	67,703
NCS Multistage Holdings, Inc. *	4,000	15,880
Newpark Resources, Inc. *	27,584	201,363
Nine Energy Service, Inc. *	4,359	87,747
Noble Corp. plc *	107,107	281,691
Noble Energy, Inc.	161,580	4,372,355

₄₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Northern Oil & Gas, Inc. *	84,525	223,991
Oasis Petroleum, Inc. *	98,252	599,337
Occidental Petroleum Corp.	246,404	14,508,268
Oceaneering International, Inc. *	31,277	600,518
Oil States International, Inc. *	24,308	469,631
ONEOK, Inc.	135,591	9,210,697
Overseas Shipholding Group, Inc., Class A *	18,500	33,670
Pacific Ethanol, Inc. *	31,636	34,483
Panhandle Oil & Gas, Inc., Class A	6,200	93,000
Par Pacific Holdings, Inc. *	7,904	154,444
Parsley Energy, Inc., Class A *	85,134	1,699,275
Patterson-UTI Energy, Inc.	74,009	1,005,782
PBF Energy, Inc., Class A	38,291	1,285,812
PDC Energy, Inc. *	23,251	1,011,186
Peabody Energy Corp.	24,630	708,605
Penn Virginia Corp. *	3,770	169,273
Phillips 66	137,641	12,975,417
Pioneer Natural Resources Co.	55,502	9,238,863
PrimeEnergy Resources Corp. *	306	42,228
Profire Energy, Inc. *	26,425	41,752
ProPetro Holding Corp. *	24,021	531,585
QEP Resources, Inc. *	77,176	580,364
Range Resources Corp.	66,553	601,639
Renewable Energy Group, Inc. *	11,517	277,790
REX American Resources Corp. *	1,646	139,103
Ring Energy, Inc. *	20,681	107,128
Roan Resources, Inc. *	11,000	62,370
RPC, Inc.	17,418	179,231
SandRidge Energy, Inc. *	8,633	72,172
Schlumberger Ltd.	454,755	19,408,943
SEACOR Holdings, Inc. *	4,850	216,019
SEACOR Marine Holdings, Inc. *	4,876	66,216
Select Energy Services, Inc., Class A *	17,554	202,222
SemGroup Corp., Class A	26,100	340,866
SilverBow Resources, Inc. *	1,839	33,359
SM Energy Co.	35,926	572,301
Smart Sand, Inc. *	16,516	64,908
Solaris Oilfield Infrastructure, Inc., Class A	7,665	130,228
Southwestern Energy Co. *	193,835	765,648
SRC Energy, Inc. *	85,339	524,835
Superior Energy Services, Inc. *	55,813	200,369
Talos Energy, Inc. *	7,627	226,522
Targa Resources Corp.	74,486	2,990,613
TechnipFMC plc	138,097	3,395,805
Tellurian, Inc. *(a)	28,096	266,912
TETRA Technologies, Inc. *	33,023	78,595
The Williams Cos., Inc.	396,829	11,242,166
Tidewater, Inc. *	12,517	281,633
Torchlight Energy Resources, Inc. *(a)	33,032	45,915
Transocean Ltd. *	167,047	1,312,989
U.S. Well Services, Inc. *	10,920	78,515
Ultra Petroleum Corp. *	51,863	21,803
Unit Corp. *	17,972	243,700
Uranium Energy Corp. *	39,550	55,766
US Silica Holdings, Inc.	23,982	379,395
VAALCO Energy, Inc. *	20,055	46,327
Valero Energy Corp.	136,939	12,414,890
W&T Offshore, Inc. *	25,000	159,500
Weatherford International plc *	301,607	166,879
Whiting Petroleum Corp. *	32,291	884,451
World Fuel Services Corp.	22,400	691,040
WPX Energy, Inc. *	133,500	1,854,315
		473,844,584

Security	Number of Shares	Value ($)
Food & Staples Retailing 1.3%
BJ's Wholesale Club Holdings, Inc. *	30,377	861,188
Casey's General Stores, Inc.	11,839	1,566,892
Costco Wholesale Corp.	144,480	35,474,174
Ingles Markets, Inc., Class A	4,200	115,290
Natural Grocers by Vitamin Cottage, Inc. *	2,400	29,712
Performance Food Group Co. *	35,573	1,456,714
PriceSmart, Inc.	7,280	435,417
Rite Aid Corp. *(a)	19,024	174,260
Smart & Final Stores, Inc. *	9,939	64,902
SpartanNash, Co.	10,256	165,839
Sprouts Farmers Market, Inc. *	40,062	858,128
Sysco Corp.	154,825	10,895,035
The Andersons, Inc.	8,571	280,272
The Chefs' Warehouse, Inc. *	6,460	211,113
The Kroger Co.	262,008	6,754,566
U.S. Foods Holding Corp. *	70,039	2,559,925
United Natural Foods, Inc. *	18,511	239,162
Village Super Market, Inc., Class A	3,931	115,493
Walgreens Boots Alliance, Inc.	262,453	14,059,607
Walmart, Inc.	466,564	47,981,442
Weis Markets, Inc.	6,977	293,383
		124,592,514

Food, Beverage & Tobacco 3.5%
22nd Century Group, Inc. *(a)	28,273	61,918
Alico, Inc.	475	13,195
Altria Group, Inc.	614,954	33,410,451
Archer-Daniels-Midland Co.	183,378	8,178,659
B&G Foods, Inc. (a)	20,423	530,998
Brown-Forman Corp., Class A	20,430	1,068,489
Brown-Forman Corp., Class B	54,938	2,927,646
Bunge Ltd.	46,455	2,434,707
Cal-Maine Foods, Inc.	11,612	477,369
Calavo Growers, Inc.	5,260	503,961
Campbell Soup Co.	62,968	2,436,232
Castle Brands, Inc. *	56,154	35,916
Celsius Holdings, Inc. *(a)	12,799	52,988
Coca-Cola Consolidated, Inc.	1,738	564,902
ConAgra Brands, Inc.	157,960	4,862,009
Constellation Brands, Inc., Class A	54,756	11,590,202
Craft Brew Alliance, Inc. *	3,000	42,330
Darling Ingredients, Inc. *	54,643	1,191,764
Dean Foods Co.	26,756	45,485
Farmer Brothers Co. *	4,500	90,720
Flowers Foods, Inc.	59,000	1,282,660
Fresh Del Monte Produce, Inc.	9,062	267,420
Freshpet, Inc. *	9,400	419,804
General Mills, Inc.	196,130	10,094,811
Hormel Foods Corp.	89,781	3,585,853
Hostess Brands, Inc. *	38,002	509,227
Ingredion, Inc.	21,324	2,020,449
J&J Snack Foods Corp.	4,866	764,838
John B. Sanfilippo & Son, Inc.	2,559	184,529
Kellogg Co.	81,470	4,912,641
Keurig Dr Pepper, Inc.	59,754	1,737,049
Lamb Weston Holdings, Inc.	47,370	3,318,268
Lancaster Colony Corp.	6,637	986,988
Landec Corp. *	9,100	95,641
Limoneira Co.	4,500	102,780
McCormick & Co., Inc. - Non Voting Shares	40,287	6,202,989
MGP Ingredients, Inc.	4,637	407,453
Molson Coors Brewing Co., Class B	60,684	3,895,306
Mondelez International, Inc., Class A	473,907	24,098,171
Monster Beverage Corp. *	128,652	7,667,659

₄₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
National Beverage Corp.	4,003	224,168
New Age Beverages Corp. *(a)	25,010	135,054
PepsiCo, Inc.	460,021	58,905,689
Philip Morris International, Inc.	509,741	44,123,181
Pilgrim's Pride Corp. *	17,681	475,796
Post Holdings, Inc. *	21,670	2,443,943
Primo Water Corp. *	10,121	159,406
Reed's, Inc. *	17,898	68,012
RiceBran Technologies *	12,444	37,456
S&W Seed Co. *	16,638	48,916
Sanderson Farms, Inc.	7,031	1,066,111
Seaboard Corp.	95	427,080
Seneca Foods Corp., Class A *	2,000	49,500
The Alkaline Water Co., Inc. *	16,336	37,083
The Boston Beer Co., Inc., Class A *	2,871	890,039
The Coca-Cola Co.	1,260,231	61,826,933
The Hain Celestial Group, Inc. *	29,151	636,075
The Hershey Co.	45,416	5,670,188
The JM Smucker Co.	37,144	4,554,969
The Kraft Heinz Co.	203,468	6,763,276
The Simply Good Foods Co. *	17,340	389,456
Tootsie Roll Industries, Inc.	5,933	230,378
TreeHouse Foods, Inc. *	17,940	1,201,621
Turning Point Brands, Inc.	4,197	179,506
Tyson Foods, Inc., Class A	97,054	7,280,021
Universal Corp.	7,470	402,334
Vector Group Ltd.	32,261	307,447
		341,608,115

Health Care Equipment & Services 5.7%
Abbott Laboratories	575,999	45,826,480
ABIOMED, Inc. *	14,900	4,133,409
Acadia Healthcare Co., Inc. *	29,166	933,895
Accuray, Inc. *	28,423	117,671
Addus HomeCare Corp. *	3,011	204,447
Align Technology, Inc. *	23,917	7,765,372
Allscripts Healthcare Solutions, Inc. *	53,720	530,216
Amedisys, Inc. *	9,316	1,190,771
American Renal Associates Holdings, Inc. *	4,023	27,678
AmerisourceBergen Corp.	51,299	3,835,113
AMN Healthcare Services, Inc. *	14,459	752,736
AngioDynamics, Inc. *	11,450	235,183
Antares Pharma, Inc. *	62,307	167,606
Anthem, Inc.	84,273	22,166,327
Apollo Medical Holdings, Inc. *	6,700	129,645
Apyx Medical Corp. *	8,600	42,914
AtriCure, Inc. *	12,275	368,495
Atrion Corp.	475	418,000
Avanos Medical, Inc. *	17,115	717,974
AxoGen, Inc. *	11,943	280,422
Axonics Modulation Technologies, Inc. *	2,812	56,802
Baxter International, Inc.	156,337	11,928,513
Becton, Dickinson & Co.	88,297	21,256,620
BioLife Solutions, Inc. *	2,800	46,872
BioScrip, Inc. *	36,021	69,160
BioSig Technologies, Inc. *	8,008	52,693
BioTelemetry, Inc. *	10,678	580,883
Boston Scientific Corp. *	453,624	16,838,523
Brookdale Senior Living, Inc. *	70,732	437,124
Cantel Medical Corp.	12,347	851,202
Cardinal Health, Inc.	98,325	4,789,411
Cardiovascular Systems, Inc. *	13,409	476,556
Castlight Health, Inc., Class B *	20,805	77,603
Catasys, Inc. *(a)	4,607	71,501
Centene Corp. *	136,083	7,016,439
Cerner Corp. *	105,978	7,042,238

Security	Number of Shares	Value ($)
Cerus Corp. *	45,797	280,736
Chembio Diagnostics, Inc. *	7,487	53,981
Chemed Corp.	5,251	1,715,922
Cigna Corp. *	124,359	19,753,184
Community Health Systems, Inc. *	34,809	119,743
Computer Programs & Systems, Inc.	3,700	112,443
ConforMIS, Inc. *	39,063	96,876
CONMED Corp.	8,206	656,726
Corindus Vascular Robotics, Inc. *(a)	33,062	70,422
CorVel Corp. *	3,002	215,544
Covetrus, Inc. *	30,651	1,007,498
Cross Country Healthcare, Inc. *	14,856	104,735
CryoLife, Inc. *	12,053	369,545
CryoPort, Inc. *(a)	8,100	113,967
Cutera, Inc. *	4,219	74,845
CVS Health Corp.	425,617	23,145,052
Danaher Corp.	205,982	27,280,256
DaVita, Inc. *	40,730	2,249,925
DENTSPLY SIRONA, Inc.	72,560	3,709,993
DexCom, Inc. *	29,172	3,531,854
Diplomat Pharmacy, Inc. *	16,723	93,314
Edwards Lifesciences Corp. *	68,306	12,026,637
Ekso Bionics Holdings, Inc. *	21,090	46,398
Encompass Health Corp.	32,917	2,121,501
Endologix, Inc. *	7,640	49,049
Enzo Biochem, Inc. *	13,471	46,744
Evolent Health, Inc., Class A *	21,273	288,249
FONAR Corp. *	1,870	37,101
Genesis Healthcare, Inc. *	32,553	42,319
GenMark Diagnostics, Inc. *	16,600	120,184
Glaukos Corp. *	10,445	753,398
Globus Medical, Inc., Class A *	25,743	1,160,752
Guardant Health, Inc. *	4,690	307,242
Haemonetics Corp. *	17,151	1,496,939
Hanger, Inc. *	13,820	274,603
HCA Healthcare, Inc.	87,100	11,081,733
HealthEquity, Inc. *	17,448	1,182,102
HealthStream, Inc. *	7,648	200,225
Helius Medical Technologies, Inc. *(a)	4,659	11,415
Henry Schein, Inc. *	49,791	3,189,611
Heska Corp. *	2,364	183,588
Hill-Rom Holdings, Inc.	22,070	2,238,339
HMS Holdings Corp. *	27,853	847,567
Hologic, Inc. *	87,010	4,035,524
HTG Molecular Diagnostics, Inc. *	18,640	46,600
Humana, Inc.	44,521	11,371,109
Icad, Inc. *	10,399	54,075
ICU Medical, Inc. *	5,638	1,282,645
IDEXX Laboratories, Inc. *	28,423	6,594,136
Inogen, Inc. *	5,839	509,745
Inovalon Holdings, Inc., Class A *	22,744	307,726
Inspire Medical Systems, Inc. *	4,371	225,937
Insulet Corp. *	19,916	1,717,755
Integer Holdings Corp. *	9,472	654,420
Integra LifeSciences Holdings Corp. *	23,714	1,237,634
Intuitive Surgical, Inc. *	37,481	19,138,923
Invacare Corp.	9,218	68,213
iRadimed Corp. *	1,334	33,363
iRhythm Technologies, Inc. *	7,680	586,061
Iridex Corp. *	10,210	50,744
Kewaunee Scientific Corp.	1,936	43,831
Laboratory Corp. of America Holdings *	32,494	5,196,440
Lantheus Holdings, Inc. *	11,198	270,544
LeMaitre Vascular, Inc.	4,566	131,866
LHC Group, Inc. *	9,623	1,069,212
LivaNova plc *	16,277	1,121,322
Magellan Health, Inc. *	7,281	509,670
Masimo Corp. *	15,906	2,070,166

₄₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
McKesson Corp.	62,831	7,492,597
Medidata Solutions, Inc. *	19,944	1,801,741
MEDNAX, Inc. *	29,765	832,527
Medtronic plc	439,569	39,038,123
Meridian Bioscience, Inc.	17,657	203,232
Merit Medical Systems, Inc. *	17,753	997,364
Mesa Laboratories, Inc.	1,023	242,134
Misonix, Inc. *	2,200	38,148
Molina Healthcare, Inc. *	20,254	2,625,526
National HealthCare Corp.	3,965	299,080
National Research Corp., Class A	5,456	215,948
Natus Medical, Inc. *	13,282	355,426
Neogen Corp. *	16,676	1,011,566
Neuronetics, Inc. *	1,800	30,006
Nevro Corp. *	10,264	633,391
NextGen Healthcare, Inc. *	20,414	383,579
NuVasive, Inc. *	16,757	1,015,474
Nuvectra Corp. *	4,133	39,015
Omnicell, Inc. *	13,621	1,094,584
OptimizeRx Corp. *	3,035	33,992
OraSure Technologies, Inc. *	17,275	163,421
Orthofix Medical, Inc. *	6,531	357,833
OrthoPediatrics Corp. *	2,000	81,480
Owens & Minor, Inc.	18,500	63,085
Patterson Cos., Inc.	30,201	659,590
Penumbra, Inc. *	9,983	1,342,713
PetIQ, Inc. *	6,200	170,314
Premier, Inc., Class A *	16,623	552,382
Psychemedics Corp.	2,969	34,114
Pulse Biosciences, Inc. *	3,000	48,060
Quest Diagnostics, Inc.	44,084	4,248,816
Quidel Corp. *	12,426	794,518
Quorum Health Corp. *	19,116	39,188
R1 RCM, Inc. *	30,270	316,927
RadNet, Inc. *	18,079	218,937
ResMed, Inc.	47,400	4,953,774
Rockwell Medical, Inc. *	13,042	62,732
RTI Surgical Holdings, Inc. *	18,100	97,921
SeaSpine Holdings Corp. *	3,910	57,594
Select Medical Holdings Corp. *	39,462	567,069
Senseonics Holdings, Inc. *(a)	26,000	60,580
Sensus Healthcare, Inc. *	5,903	37,956
SI-BONE, Inc. *	4,040	68,680
Sientra, Inc. *	6,300	53,046
Simulations Plus, Inc.	3,188	71,826
STAAR Surgical Co. *	8,247	267,863
Steris plc *	27,897	3,653,949
Stryker Corp.	101,446	19,164,164
Surgery Partners, Inc. *	5,591	60,551
Surmodics, Inc. *	4,200	182,448
Tabula Rasa HealthCare, Inc. *	5,870	312,636
Tactile Systems Technology, Inc. *	5,530	275,173
Tandem Diabetes Care, Inc. *	19,235	1,181,221
Teladoc Health, Inc. *	22,445	1,276,672
Teleflex, Inc.	14,943	4,276,388
Tenet Healthcare Corp. *	28,972	634,487
The Cooper Cos., Inc.	15,952	4,624,804
The Ensign Group, Inc.	16,546	852,450
The Joint Corp. *	3,340	58,984
The Providence Service Corp. *	3,302	219,022
Tivity Health, Inc. *	13,471	291,243
TransEnterix, Inc. *(a)	54,700	109,400
Triple-S Management Corp., Class B *	6,648	151,043
U.S. Physical Therapy, Inc.	3,850	448,486
UnitedHealth Group, Inc.	314,616	73,327,551
Universal Health Services, Inc., Class B	27,156	3,445,282
Utah Medical Products, Inc.	1,365	115,206
Vapotherm, Inc. *	2,247	38,042

Security	Number of Shares	Value ($)
Varex Imaging Corp. *	11,819	388,136
Varian Medical Systems, Inc. *	29,770	4,053,781
Veeva Systems, Inc., Class A *	41,525	5,808,102
ViewRay, Inc. *	19,429	135,226
Vocera Communications, Inc. *	10,583	337,069
VolitionRX Ltd. *(a)	15,384	54,767
WellCare Health Plans, Inc. *	16,486	4,259,158
West Pharmaceutical Services, Inc.	23,811	2,947,564
Wright Medical Group N.V. *	37,486	1,108,461
Zimmer Biomet Holdings, Inc.	67,291	8,287,560
		558,079,310

Household & Personal Products 1.6%
Avon Products, Inc. *	148,757	473,047
Central Garden & Pet Co. *	4,210	113,586
Central Garden & Pet Co., Class A *	13,239	324,091
Church & Dwight Co., Inc.	79,881	5,987,081
Colgate-Palmolive Co.	282,804	20,585,303
Coty, Inc., Class A (a)	153,228	1,657,927
Edgewell Personal Care Co. *	18,438	760,199
Energizer Holdings, Inc.	20,781	995,202
Herbalife Nutrition Ltd. *	32,858	1,736,545
Inter Parfums, Inc.	5,613	406,886
Kimberly-Clark Corp.	113,045	14,512,717
Lifevantage Corp. *	5,280	60,086
Medifast, Inc.	3,897	571,651
Natural Alternative International, Inc. *	3,826	49,776
Natural Health Trends Corp.	2,166	25,039
Nature's Sunshine Products, Inc. *	5,329	47,961
Nu Skin Enterprises, Inc., Class A	17,207	875,320
Oil-Dri Corp. of America	1,600	50,896
Revlon, Inc., Class A *(a)	3,255	69,494
Spectrum Brands Holdings, Inc.	14,785	910,313
The Clorox Co.	42,002	6,708,980
The Estee Lauder Cos., Inc., Class A	71,664	12,312,592
The Procter & Gamble Co.	819,730	87,284,850
USANA Health Sciences, Inc. *	4,945	412,710
Veru, Inc. *	32,319	44,924
WD-40 Co.	4,489	755,274
		157,732,450

Insurance 2.6%
Aflac, Inc.	245,289	12,357,660
Alleghany Corp. *	4,663	3,063,031
Ambac Financial Group, Inc. *	13,400	250,580
American Equity Investment Life Holding Co.	29,147	857,213
American Financial Group, Inc.	23,222	2,404,174
American International Group, Inc.	286,412	13,624,619
American National Insurance Co.	2,769	313,700
AMERISAFE, Inc.	5,668	335,659
Aon plc	78,428	14,128,020
Arch Capital Group Ltd. *	131,656	4,447,340
Argo Group International Holdings Ltd.	10,503	819,969
Arthur J. Gallagher & Co.	60,299	5,042,202
Assurant, Inc.	20,070	1,906,650
Assured Guaranty Ltd.	33,320	1,589,364
Athene Holding Ltd., Class A *	42,140	1,903,042
Axis Capital Holdings Ltd.	27,220	1,547,457
Brighthouse Financial, Inc. *	37,570	1,570,050
Brown & Brown, Inc.	75,230	2,388,553
Chubb Ltd.	150,093	21,793,504
Cincinnati Financial Corp.	50,014	4,810,347
Citizens, Inc. *(a)	22,044	149,017
CNA Financial Corp.	9,550	442,452
CNO Financial Group, Inc.	57,112	945,204

₄₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Crawford & Co., Class A	4,938	44,442
Crawford & Co., Class B	5,800	51,156
Donegal Group, Inc., Class A	5,782	78,057
eHealth, Inc. *	6,602	401,005
EMC Insurance Group, Inc.	4,286	137,623
Employers Holdings, Inc.	9,753	418,599
Enstar Group Ltd. *	4,751	842,162
Erie Indemnity Co., Class A	6,531	1,236,449
Everest Re Group Ltd.	13,250	3,120,375
FBL Financial Group, Inc., Class A	3,305	206,463
FedNat Holding Co.	4,085	66,463
Fidelity National Financial, Inc.	90,493	3,615,195
First American Financial Corp.	37,060	2,114,644
Genworth Financial, Inc., Class A *	154,020	583,736
Global Indemnity Ltd.	2,000	61,600
Goosehead Insurance, Inc., Class A	2,800	85,316
Greenlight Capital Re Ltd., Class A *	12,115	145,138
Hallmark Financial Services, Inc. *	3,228	37,057
HCI Group, Inc.	2,926	124,706
Health Insurance Innovations, Inc., Class A *(a)	3,371	78,612
Heritage Insurance Holdings, Inc.	9,756	133,072
Horace Mann Educators Corp.	12,141	468,400
Independence Holding Co.	2,346	89,805
Investors Title Co.	416	70,271
James River Group Holdings Ltd.	9,426	397,966
Kemper Corp.	20,537	1,845,866
Kingstone Cos., Inc.	2,696	31,301
Kinsale Capital Group, Inc.	7,030	510,378
Lincoln National Corp.	67,775	4,521,948
Loews Corp.	90,512	4,642,360
Maiden Holdings Ltd.	18,900	12,351
Markel Corp. *	4,524	4,847,511
Marsh & McLennan Cos., Inc.	165,756	15,629,133
MBIA, Inc. *	34,102	329,766
Mercury General Corp.	9,807	527,420
MetLife, Inc.	313,439	14,458,941
National General Holdings Corp.	21,670	534,166
National Western Life Group, Inc., Class A	964	257,118
NI Holdings, Inc. *	2,860	45,846
Old Republic International Corp.	92,520	2,068,747
Primerica, Inc.	13,498	1,758,654
Principal Financial Group, Inc.	85,964	4,913,702
ProAssurance Corp.	18,940	710,818
Protective Insurance Corp., Class B	4,607	74,864
Prudential Financial, Inc.	134,318	14,198,756
Reinsurance Group of America, Inc.	20,424	3,094,440
RenaissanceRe Holdings Ltd.	13,639	2,118,955
RLI Corp.	12,648	1,028,662
Safety Insurance Group, Inc.	5,451	506,507
Selective Insurance Group, Inc.	19,164	1,366,585
State Auto Financial Corp.	5,500	184,965
Stewart Information Services Corp.	6,635	282,054
The Allstate Corp.	108,952	10,792,785
The Hanover Insurance Group, Inc.	14,022	1,691,193
The Hartford Financial Services Group, Inc.	117,473	6,145,013
The Navigators Group, Inc.	7,334	512,940
The Progressive Corp.	190,780	14,909,457
The Travelers Cos., Inc.	85,915	12,350,281
Third Point Reinsurance Ltd. *	22,436	260,482
Tiptree, Inc.	7,504	42,773
Torchmark Corp.	33,120	2,903,299
Trupanion, Inc. *(a)	9,088	298,086
United Fire Group, Inc.	6,616	288,524
United Insurance Holdings Corp.	6,439	98,645
Universal Insurance Holdings, Inc.	9,563	284,882
Unum Group	71,355	2,634,427

Security	Number of Shares	Value ($)
W. R. Berkley Corp.	47,087	2,886,433
White Mountains Insurance Group Ltd.	1,000	939,040
Willis Towers Watson plc	42,005	7,743,202
		256,581,395

Materials 2.9%
Advanced Emissions Solutions, Inc. (a)	5,901	66,681
AdvanSix, Inc. *	8,959	270,831
AgroFresh Solutions, Inc. *	10,000	31,900
Air Products & Chemicals, Inc.	71,955	14,807,619
AK Steel Holding Corp. *	92,567	224,012
Albemarle Corp.	34,978	2,625,449
Alcoa Corp. *	60,402	1,611,525
Allegheny Technologies, Inc. *	40,422	1,007,316
American Vanguard Corp.	7,917	124,614
AptarGroup, Inc.	20,134	2,239,706
Ashland Global Holdings, Inc.	20,666	1,664,233
Avery Dennison Corp.	27,714	3,066,554
Axalta Coating Systems Ltd. *	70,138	1,892,323
Balchem Corp.	10,584	1,074,382
Ball Corp.	109,084	6,538,495
Bemis Co., Inc.	29,645	1,702,216
Berry Global Group, Inc. *	42,905	2,522,814
Boise Cascade Co.	11,827	327,490
Cabot Corp.	18,903	857,818
Carpenter Technology Corp.	15,701	779,869
Celanese Corp.	42,572	4,593,093
Century Aluminum Co. *	14,114	118,699
CF Industries Holdings, Inc.	73,475	3,290,211
Chase Corp.	3,067	287,286
Clearwater Paper Corp. *	7,956	160,473
Cleveland-Cliffs, Inc.	97,710	976,123
Coeur Mining, Inc. *	75,926	274,093
Commercial Metals Co.	42,616	736,831
Compass Minerals International, Inc.	11,822	678,465
Crown Holdings, Inc. *	44,193	2,568,939
Domtar Corp.	19,787	967,584
Dow, Inc. *	246,352	13,975,549
DowDuPont, Inc.	739,906	28,449,386
Eagle Materials, Inc.	15,582	1,416,560
Eastman Chemical Co.	45,852	3,616,806
Ecolab, Inc.	82,961	15,271,461
Element Solutions, Inc. *	76,011	825,479
Ferro Corp. *	25,700	459,259
Flotek Industries, Inc. *	16,539	59,044
FMC Corp.	43,685	3,453,736
Forterra, Inc. *	5,539	25,701
Freeport-McMoRan, Inc.	475,020	5,847,496
FutureFuel Corp.	8,300	121,927
GCP Applied Technologies, Inc. *	22,792	656,182
Gold Resource Corp.	19,195	70,254
Graphic Packaging Holding Co.	101,521	1,409,111
Greif, Inc., Class A	9,091	359,276
Greif, Inc., Class B	2,000	97,300
H.B. Fuller Co.	17,701	866,818
Hawkins, Inc.	3,679	135,792
Haynes International, Inc.	3,574	115,476
Hecla Mining Co.	160,671	337,409
Huntsman Corp.	72,102	1,603,548
Ingevity Corp. *	13,947	1,604,044
Innophos Holdings, Inc.	6,990	225,008
Innospec, Inc.	7,393	627,074
International Flavors & Fragrances, Inc.	32,842	4,525,299
International Paper Co.	130,987	6,131,501
Intrepid Potash, Inc. *	27,197	101,173
Kaiser Aluminum Corp.	4,864	478,618
Koppers Holdings, Inc. *	5,651	151,108

₄₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Kraton Corp. *	9,654	316,844
Kronos Worldwide, Inc.	6,230	84,728
Linde plc	180,736	32,579,471
Livent Corp. *	47,698	514,184
Loop Industries, Inc. *(a)	4,729	33,481
Louisiana-Pacific Corp.	40,157	1,005,933
LSB Industries, Inc. *	5,600	32,760
LyondellBasell Industries N.V., Class A	100,037	8,826,265
Marrone Bio Innovations, Inc. *(a)	27,730	44,645
Martin Marietta Materials, Inc.	20,531	4,555,829
Materion Corp.	7,145	414,624
McEwen Mining, Inc.	126,062	173,966
Mercer International, Inc.	19,586	277,338
Minerals Technologies, Inc.	12,903	809,921
Myers Industries, Inc.	14,310	256,006
Neenah, Inc.	5,035	341,625
NewMarket Corp.	2,808	1,178,181
Newmont Mining Corp.	267,993	8,323,863
Northern Technologies International Corp.	1,624	43,004
Nucor Corp.	100,682	5,745,922
Olin Corp.	56,546	1,226,483
Olympic Steel, Inc.	2,550	41,361
OMNOVA Solutions, Inc. *	14,068	104,103
Owens-Illinois, Inc.	50,995	1,007,661
P.H. Glatfelter Co.	17,901	282,478
Packaging Corp. of America	30,532	3,027,553
PolyOne Corp.	23,918	661,094
PPG Industries, Inc.	77,241	9,075,818
PQ Group Holdings, Inc. *	11,343	179,333
Quaker Chemical Corp.	4,376	979,436
Rayonier Advanced Materials, Inc.	17,736	263,202
Reliance Steel & Aluminum Co.	22,340	2,054,386
Resolute Forest Products, Inc.	28,000	221,480
Royal Gold, Inc.	21,730	1,891,814
RPM International, Inc.	42,835	2,597,943
Ryerson Holding Corp. *	4,659	40,300
Schnitzer Steel Industries, Inc., Class A	9,050	214,666
Schweitzer-Mauduit International, Inc.	10,032	356,838
Sealed Air Corp.	51,349	2,393,890
Sensient Technologies Corp.	14,680	1,029,362
Silgan Holdings, Inc.	26,115	781,883
Sonoco Products Co.	32,655	2,059,224
Steel Dynamics, Inc.	74,814	2,370,108
Stepan Co.	6,704	620,388
Summit Materials, Inc., Class A *	35,560	623,011
SunCoke Energy, Inc. *	18,406	158,476
Synalloy Corp.	2,200	38,830
Tecnoglass, Inc.	4,997	35,878
The Chemours Co.	54,183	1,951,130
The Mosaic Co.	113,922	2,974,503
The Scotts Miracle-Gro Co.	12,913	1,097,863
The Sherwin-Williams Co.	26,735	12,159,880
TimkenSteel Corp. *	10,796	109,471
Tredegar Corp.	8,263	148,899
Trinseo S.A.	12,703	571,000
Tronox Holdings plc, Class A *	28,193	398,649
UFP Technologies, Inc. *	3,202	116,553
United States Lime & Minerals, Inc.	1,011	81,810
United States Steel Corp.	54,379	848,312
Universal Stainless & Alloy Products, Inc. *	1,800	25,902
US Concrete, Inc. *	4,493	211,755
Valvoline, Inc.	63,880	1,181,780
Venator Materials plc *	13,280	80,477
Verso Corp., Class A *	11,750	262,260
Vulcan Materials Co.	42,955	5,417,055
W.R. Grace & Co.	22,540	1,703,573
Warrior Met Coal, Inc.	14,218	440,758
Westlake Chemical Corp.	11,394	794,732

Security	Number of Shares	Value ($)
WestRock Co.	83,801	3,216,282
Worthington Industries, Inc.	13,511	542,196
		285,335,468

Media & Entertainment 7.6%
A. H. Belo Corp., Class A	12,274	44,309
Activision Blizzard, Inc.	251,183	12,109,532
Alphabet, Inc., Class A *	98,205	117,743,867
Alphabet, Inc., Class C *	100,835	119,840,381
Altice USA, Inc., Class A	39,888	939,761
AMC Entertainment Holdings, Inc., Class A	22,090	334,884
AMC Networks, Inc., Class A *	14,071	821,887
ANGI Homeservices, Inc., Class A *	22,425	389,746
Boston Omaha Corp., Class A *	2,600	61,230
Cable One, Inc.	1,582	1,677,758
Cardlytics, Inc. *	2,700	42,120
Care.com, Inc. *	12,196	204,283
Cargurus, Inc. *	9,842	400,963
Cars.com, Inc. *	19,198	399,510
CBS Corp., Class A	2,103	108,052
CBS Corp., Class B - Non Voting Shares	114,063	5,848,010
Central European Media Enterprises Ltd., Class A *	43,184	171,009
Charter Communications, Inc., Class A *	56,979	21,150,035
Cinemark Holdings, Inc.	34,645	1,456,822
Clear Channel Outdoor Holdings, Inc., Class A *	18,449	90,216
Comcast Corp., Class A	1,481,553	64,492,002
comScore, Inc. *	18,690	234,559
Daily Journal Corp. *	427	95,221
DHI Group, Inc. *	17,016	51,899
Discovery, Inc., Class A *	53,351	1,648,546
Discovery, Inc., Class C *	115,541	3,322,959
DISH Network Corp., Class A *	74,425	2,613,806
Electronic Arts, Inc. *	98,498	9,322,836
Emerald Expositions Events, Inc.	7,000	98,350
Entercom Communications Corp., Class A	36,599	251,801
Entravision Communications Corp., Class A	23,831	68,395
Eventbrite, Inc., Class A *	4,210	105,250
Facebook, Inc., Class A *	782,595	151,353,873
Fluent, Inc. *	13,431	94,420
Fox Corp., Class A *	114,911	4,480,380
Fox Corp., Class B *	52,914	2,037,189
Gannett Co., Inc.	39,315	366,809
GCI Liberty, Inc., Class A *	32,047	1,910,642
Global Eagle Entertainment, Inc. *	17,279	11,076
Glu Mobile, Inc. *	32,800	358,832
Gray Television, Inc. *	26,260	615,272
Hemisphere Media Group, Inc. *	4,890	71,443
IAC/InterActiveCorp *	25,278	5,683,505
John Wiley & Sons, Inc., Class A	15,690	724,564
Lee Enterprises, Inc. *	15,450	43,260
Liberty Broadband Corp., Class A *	7,891	776,395
Liberty Broadband Corp., Class C *	49,637	4,899,668
Liberty Global plc, Class A *	67,214	1,815,450
Liberty Global plc, Class C *	197,592	5,167,031
Liberty Latin America Ltd., Class A *	13,577	284,167
Liberty Latin America Ltd., Class C *	43,369	903,810
Liberty Media Corp. - Liberty Braves, Class A *	2,953	83,747
Liberty Media Corp. - Liberty Braves, Class C *	10,998	309,594
Liberty Media Corp. - Liberty Formula One, Class A *	8,419	317,901

₄₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Liberty Media Corp. - Liberty Formula One, Class C *	65,833	2,554,979
Liberty Media Corp. - Liberty SiriusXM, Class A *	28,055	1,120,517
Liberty Media Corp. - Liberty SiriusXM, Class C *	51,810	2,080,690
Liberty TripAdvisor Holdings, Inc., Class A *	24,773	365,154
Lions Gate Entertainment Corp., Class A	19,000	277,210
Lions Gate Entertainment Corp., Class B	34,368	467,405
Live Nation Entertainment, Inc. *	45,143	2,949,644
LiveXLive Media, Inc. *	8,492	42,205
Loral Space & Communications, Inc. *	3,815	140,468
Marchex, Inc., Class B *	10,570	50,419
Match Group, Inc.	17,962	1,084,905
Meredith Corp.	14,298	843,582
MSG Networks, Inc., Class A *	18,579	427,874
National CineMedia, Inc.	18,547	129,458
Netflix, Inc. *	143,351	53,117,279
New Media Investment Group, Inc.	19,939	213,148
News Corp., Class A	121,207	1,505,391
News Corp., Class B	45,036	562,500
Nexstar Media Group, Inc., Class A	15,258	1,785,949
Omnicom Group, Inc.	74,239	5,941,347
QuinStreet, Inc. *	10,517	150,078
Reading International, Inc., Class A *	4,446	67,846
Rosetta Stone, Inc. *	5,610	141,484
Saga Communications, Inc., Class A	1,496	47,992
Scholastic Corp.	8,161	325,461
Sinclair Broadcast Group, Inc., Class A	20,682	947,029
Sirius XM Holdings, Inc.	540,640	3,141,118
Snap, Inc., Class A *	242,547	2,701,974
Take-Two Interactive Software, Inc. *	36,871	3,570,219
TechTarget, Inc. *	5,500	91,795
TEGNA, Inc.	67,635	1,076,749
The E.W. Scripps Co., Class A	18,724	426,720
The Interpublic Group of Cos., Inc.	124,542	2,864,466
The Madison Square Garden Co., Class A *	5,804	1,813,402
The Marcus Corp.	6,272	235,953
The Meet Group, Inc. *	20,844	115,893
The New York Times Co., Class A	48,572	1,610,162
The Walt Disney Co.	572,296	78,387,383
Travelzoo *	3,496	61,425
Tribune Media Co., Class A	25,530	1,179,486
Tribune Publishing Co. *	7,731	83,186
TripAdvisor, Inc. *	32,880	1,750,202
TrueCar, Inc. *	24,896	160,330
Twitter, Inc. *	239,638	9,563,953
Viacom, Inc., Class A	2,300	79,695
Viacom, Inc., Class B	117,642	3,401,030
World Wrestling Entertainment, Inc., Class A	14,046	1,177,757
Yelp, Inc. *	26,189	1,049,131
Zillow Group, Inc., Class A *	16,569	550,256
Zillow Group, Inc., Class C *	37,704	1,259,314
Zynga, Inc., Class A *	268,110	1,517,503
		743,658,143

Pharmaceuticals, Biotechnology & Life Sciences 7.5%
AbbVie, Inc.	484,619	38,473,902
Abeona Therapeutics, Inc. *	8,452	65,080
ACADIA Pharmaceuticals, Inc. *	36,054	867,099
Accelerate Diagnostics, Inc. *(a)	10,300	200,850
Acceleron Pharma, Inc. *	16,020	652,495
AcelRx Pharmaceuticals, Inc. *(a)	28,438	110,055

Security	Number of Shares	Value ($)
Acer Therapeutics, Inc. *	1,495	29,257
Achillion Pharmaceuticals, Inc. *	42,273	125,128
Acorda Therapeutics, Inc. *	15,538	162,372
Actinium Pharmaceuticals, Inc. *	80,219	24,467
Adamis Pharmaceuticals Corp. *	16,516	33,858
ADMA Biologics, Inc. *	8,300	38,429
Adverum Biotechnologies, Inc. *	12,177	78,542
Aeglea BioTherapeutics, Inc. *	5,245	35,928
Aerie Pharmaceuticals, Inc. *	12,866	490,838
Aerpio Pharmaceuticals, Inc. *	12,835	13,348
Agenus, Inc. *	38,795	99,703
AgeX Therapeutics, Inc. *	10,645	48,541
Agilent Technologies, Inc.	103,639	8,135,662
Agios Pharmaceuticals, Inc. *	17,426	974,462
Aimmune Therapeutics, Inc. *	15,127	304,658
Akcea Therapeutics, Inc. *(a)	4,993	125,274
Akebia Therapeutics, Inc. *	35,152	212,318
Akorn, Inc. *	41,431	111,864
Albireo Pharma, Inc. *	2,099	72,248
Alder Biopharmaceuticals, Inc. *	23,744	322,681
Alector, Inc. *	2,705	53,721
Alexion Pharmaceuticals, Inc. *	73,636	10,024,069
Alimera Sciences, Inc. *	39,406	38,224
Alkermes plc *	51,588	1,564,148
Allakos, Inc. *	2,100	82,341
Allena Pharmaceuticals, Inc. *	6,539	40,346
Allergan plc	103,017	15,143,499
Allogene Therapeutics, Inc. *(a)	6,710	200,965
Alnylam Pharmaceuticals, Inc. *	31,363	2,801,970
AMAG Pharmaceuticals, Inc. *	9,201	102,683
Amgen, Inc.	204,566	36,682,775
Amicus Therapeutics, Inc. *	70,254	937,188
Amneal Pharmaceuticals, Inc. *	27,858	358,532
Amphastar Pharmaceuticals, Inc. *	10,000	215,900
Ampio Pharmaceuticals, Inc. *	73,284	41,757
AnaptysBio, Inc. *	7,720	561,398
Anavex Life Sciences Corp. *(a)	15,874	47,146
ANI Pharmaceuticals, Inc. *	2,423	171,985
Anika Therapeutics, Inc. *	4,606	146,701
Anixa Biosciences, Inc. *	9,149	38,060
Apellis Pharmaceuticals, Inc. *	13,300	263,473
Aptinyx, Inc. *	1,900	7,315
Aquinox Pharmaceuticals, Inc. *	16,825	44,755
Arcus Biosciences, Inc. *	3,846	37,383
Ardelyx, Inc. *	12,366	42,044
Arena Pharmaceuticals, Inc. *	17,164	785,253
ArQule, Inc. *	34,889	208,287
Array BioPharma, Inc. *	71,760	1,622,494
Arrowhead Pharmaceuticals, Inc. *	31,590	567,988
Arvinas Holding Co. LLC *	2,500	52,175
Assembly Biosciences, Inc. *	7,557	119,249
Assertio Therapeutics, Inc. *	18,832	78,529
Atara Biotherapeutics, Inc. *	14,848	498,893
Athenex, Inc. *	15,009	148,289
Audentes Therapeutics, Inc. *	11,282	426,347
AVEO Pharmaceuticals, Inc. *(a)	28,629	26,422
Avrobio, Inc. *	1,700	31,977
Axsome Therapeutics, Inc. *	6,000	106,380
Bio-Rad Laboratories, Inc., Class A *	6,493	1,953,939
Bio-Techne Corp.	12,297	2,515,843
BioCryst Pharmaceuticals, Inc. *	38,239	284,116
BioDelivery Sciences International, Inc. *	16,652	80,429
Biogen, Inc. *	64,282	14,736,006
Biohaven Pharmaceutical Holding Co., Ltd. *	12,114	725,023
BioMarin Pharmaceutical, Inc. *	59,540	5,092,456
BioSpecifics Technologies Corp. *	1,514	101,438
Bluebird Bio, Inc. *	18,112	2,568,825

₄₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Blueprint Medicines Corp. *	16,608	1,255,731
BrainStorm Cell Therapeutics, Inc. *(a)	11,287	44,922
Bristol-Myers Squibb Co.	536,906	24,928,546
Bruker Corp.	32,654	1,260,444
Calithera Biosciences, Inc. *	9,145	56,333
Calyxt, Inc. *	2,501	39,891
Cambrex Corp. *	11,666	501,871
Cara Therapeutics, Inc. *	9,818	187,327
CareDx, Inc. *	12,115	329,649
Catabasis Pharmaceuticals, Inc. *	8,304	62,363
Catalent, Inc. *	47,914	2,147,505
Catalyst Biosciences, Inc. *	5,715	49,835
Catalyst Pharmaceuticals, Inc. *	28,204	161,891
CEL-SCI Corp. *	15,653	99,866
Celcuity, Inc. *	2,500	56,250
Celgene Corp. *	229,914	21,763,659
Celldex Therapeutics, Inc. *	8,808	32,237
Cellular Biomedicine Group, Inc. *	2,900	50,112
Cerecor, Inc. *	8,153	44,352
Charles River Laboratories International, Inc. *	15,822	2,222,516
Checkpoint Therapeutics, Inc. *	16,577	67,634
ChemoCentryx, Inc. *	11,922	158,205
Chiasma, Inc. *	7,614	46,293
Chimerix, Inc. *	15,000	40,500
ChromaDex Corp. *	12,690	56,471
Clovis Oncology, Inc. *	17,986	328,604
Codexis, Inc. *	17,581	346,346
Cohbar, Inc. *	14,681	35,968
Coherus Biosciences, Inc. *	19,857	316,123
Collegium Pharmaceutical, Inc. *	8,383	116,775
Concert Pharmaceuticals, Inc. *	4,499	46,250
ContraFect Corp. *	39,150	20,045
Corbus Pharmaceuticals Holdings, Inc. *(a)	13,863	98,982
Corcept Therapeutics, Inc. *	35,050	433,919
CorMedix, Inc. *(a)	5,920	47,952
Corvus Pharmaceuticals, Inc. *	10,375	43,886
Crinetics Pharmaceuticals, Inc. *	1,700	44,115
Cue Biopharma, Inc. *	6,911	58,674
Cyclerion Therapeutics, Inc. *	5,131	78,145
Cymabay Therapeutics, Inc. *	20,365	260,876
Cytokinetics, Inc. *	15,082	133,023
CytomX Therapeutics, Inc. *	15,748	149,763
Deciphera Pharmaceuticals, Inc. *	5,000	115,000
Denali Therapeutics, Inc. *	23,955	586,179
Dermira, Inc. *	16,451	182,442
Dicerna Pharmaceuticals, Inc. *	18,700	242,352
Dova Pharmaceuticals, Inc. *	3,704	34,077
Durect Corp. *	41,585	22,934
Dynavax Technologies Corp. *	27,027	179,730
Eagle Pharmaceuticals, Inc. *	4,489	230,779
Editas Medicine, Inc. *	12,965	320,884
Eidos Therapeutics, Inc. *(a)	2,511	65,813
Eiger BioPharmaceuticals, Inc. *	4,600	50,278
Elanco Animal Health, Inc. *	118,944	3,746,736
Eli Lilly & Co.	283,607	33,193,363
Eloxx Pharmaceuticals, Inc. *	6,055	72,297
Emergent BioSolutions, Inc. *	14,639	756,544
Enanta Pharmaceuticals, Inc. *	4,706	410,316
Endo International plc *	64,200	481,500
Enochian Biosciences, Inc. *	7,176	44,132
Epizyme, Inc. *	24,693	306,440
Esperion Therapeutics, Inc. *	8,439	363,721
Evolus, Inc. *(a)	3,116	75,968
Exact Sciences Corp. *	41,724	4,117,742
Exelixis, Inc. *	96,908	1,905,211
EyePoint Pharmaceuticals, Inc. *	14,600	24,966

Security	Number of Shares	Value ($)
Fate Therapeutics, Inc. *	21,600	362,880
FibroGen, Inc. *	24,370	1,138,810
Five Prime Therapeutics, Inc. *	14,036	155,519
Flexion Therapeutics, Inc. *	11,400	120,840
Fluidigm Corp. *	20,340	279,472
Forty Seven, Inc. *	3,550	67,415
G1 Therapeutics, Inc. *	7,400	158,360
Galectin Therapeutics, Inc. *(a)	8,013	34,296
Genomic Health, Inc. *	7,854	505,248
Geron Corp. *(a)	62,177	113,162
Gilead Sciences, Inc.	419,554	27,287,792
Global Blood Therapeutics, Inc. *	18,461	1,022,739
GlycoMimetics, Inc. *	11,422	139,006
Gossamer Bio, Inc. *	4,676	79,305
Gritstone Oncology, Inc. *	3,670	38,572
Halozyme Therapeutics, Inc. *	47,185	761,094
Harpoon Therapeutics, Inc. *	3,414	40,080
Harrow Health, Inc. *	6,848	31,912
Harvard Bioscience, Inc. *	7,316	28,313
Heron Therapeutics, Inc. *	24,691	535,301
Homology Medicines, Inc. *	2,700	58,104
Horizon Pharma plc *	61,160	1,561,415
Idera Pharmaceuticals, Inc. *	6,495	19,550
Illumina, Inc. *	48,107	15,009,384
ImmunoGen, Inc. *	46,115	110,215
Immunomedics, Inc. *	55,414	887,732
Incyte Corp. *	59,056	4,535,501
Infinity Pharmaceuticals, Inc. *	29,948	49,714
Innoviva, Inc. *	25,683	360,332
Inovio Pharmaceuticals, Inc. *(a)	24,594	92,473
Insmed, Inc. *	26,767	814,787
Insys Therapeutics, Inc. *(a)	7,600	32,680
Intellia Therapeutics, Inc. *	9,131	140,435
Intercept Pharmaceuticals, Inc. *	7,219	622,133
Intersect ENT, Inc. *	10,273	333,770
Intra-Cellular Therapies, Inc. *	15,000	197,550
Intrexon Corp. *(a)	19,807	85,764
Invitae Corp. *	27,863	658,124
Ionis Pharmaceuticals, Inc. *	45,005	3,345,222
Iovance Biotherapeutics, Inc. *	41,432	472,325
IQVIA Holdings, Inc. *	51,773	7,191,270
Ironwood Pharmaceuticals, Inc. *	51,313	610,112
IVERIC bio, Inc. *	29,361	40,518
Jazz Pharmaceuticals plc *	18,561	2,408,661
Johnson & Johnson	873,698	123,366,158
Jounce Therapeutics, Inc. *	8,460	48,053
Kadmon Holdings, Inc. *	44,130	103,706
Kala Pharmaceuticals, Inc. *	6,000	46,560
KalVista Pharmaceuticals, Inc. *	3,000	69,000
Karyopharm Therapeutics, Inc. *	14,263	66,608
Kezar Life Sciences, Inc. *	2,720	51,326
Kindred Biosciences, Inc. *	7,379	65,599
Kodiak Sciences, Inc. *	6,901	51,205
Krystal Biotech, Inc. *	2,600	85,150
Kura Oncology, Inc. *	10,835	164,042
Lannett Co., Inc. *(a)	8,800	67,672
Lexicon Pharmaceuticals, Inc. *	18,214	105,641
Ligand Pharmaceuticals, Inc. *	6,860	863,331
Liquidia Technologies, Inc. *	2,763	26,276
LogicBio Therapeutics, Inc. *	4,315	58,727
Luminex Corp.	12,900	294,249
MacroGenics, Inc. *	13,343	223,762
Madrigal Pharmaceuticals, Inc. *	2,520	267,322
Magenta Therapeutics, Inc. *	2,808	40,463
Mallinckrodt plc *	25,602	395,807
MannKind Corp. *(a)	76,925	118,465
Marker Therapeutics, Inc. *(a)	8,200	43,296
Matinas BioPharma Holdings, Inc. *	35,096	34,222

₄₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
MediciNova, Inc. *(a)	10,435	116,872
Medpace Holdings, Inc. *	8,500	477,445
MEI Pharma, Inc. *	15,228	47,816
Merck & Co., Inc.	847,106	66,675,713
Merrimack Pharmaceuticals, Inc. *	7,188	47,010
Mersana Therapeutics, Inc. *	10,350	50,922
Mettler-Toledo International, Inc. *	8,100	6,036,606
Minerva Neurosciences, Inc. *	8,467	62,402
Mirati Therapeutics, Inc. *	10,935	650,523
Molecular Templates, Inc. *	8,381	61,600
Momenta Pharmaceuticals, Inc. *	32,005	447,750
Mustang Bio, Inc. *	12,479	51,788
Mylan N.V. *	171,322	4,623,981
MyoKardia, Inc. *	12,009	576,192
Myriad Genetics, Inc. *	24,574	773,590
NanoString Technologies, Inc. *	8,674	225,264
Natera, Inc. *	11,323	216,383
Nektar Therapeutics *	55,978	1,792,416
NeoGenomics, Inc. *	31,685	659,999
Neos Therapeutics, Inc. *	21,090	50,827
Neurocrine Biosciences, Inc. *	29,810	2,153,474
Odonate Therapeutics, Inc. *(a)	3,000	58,980
Omeros Corp. *(a)	14,156	266,699
Oncocyte Corp. *	13,252	56,984
OPKO Health, Inc. *	126,764	302,966
Organogenesis Holdings, Inc. *	6,071	42,376
Organovo Holdings, Inc. *(a)	33,744	33,744
Otonomy, Inc. *	17,686	47,398
Pacific Biosciences of California, Inc. *	47,700	352,503
Pacira BioSciences, Inc. *	13,130	522,837
Palatin Technologies, Inc. *	56,900	70,556
PDL BioPharma, Inc. *	61,807	202,109
PerkinElmer, Inc.	37,113	3,556,910
Perrigo Co., plc	41,607	1,993,807
Pfenex, Inc. *	8,600	49,794
Pfizer, Inc.	1,819,431	73,887,093
Phibro Animal Health Corp., Class A	6,184	214,647
PolarityTE, Inc. *(a)	4,800	43,392
Portola Pharmaceuticals, Inc. *	22,854	806,746
PRA Health Sciences, Inc. *	18,930	1,832,803
Prestige Consumer Healthcare, Inc. *	18,865	555,008
Principia Biopharma, Inc. *	3,720	111,265
Progenics Pharmaceuticals, Inc. *	22,368	114,972
Protagonist Therapeutics, Inc. *	4,920	50,824
Proteostasis Therapeutics, Inc. *	7,700	8,470
Prothena Corp. plc *	14,018	145,787
PTC Therapeutics, Inc. *	17,765	664,766
Puma Biotechnology, Inc. *	12,061	387,399
Quanterix Corp. *	2,695	61,230
Ra Pharmaceuticals, Inc. *	10,340	229,548
Radius Health, Inc. *	14,153	311,649
Reata Pharmaceuticals, Inc., Class A *	5,354	420,075
Recro Pharma, Inc. *	5,876	51,297
Regeneron Pharmaceuticals, Inc. *	25,790	8,849,581
REGENXBIO, Inc. *	10,013	504,655
Repligen Corp. *	13,429	904,846
Replimune Group, Inc. *	3,655	61,294
resTORbio, Inc. *	5,465	43,993
Retrophin, Inc. *	12,048	229,876
Revance Therapeutics, Inc. *	17,210	227,860
Rhythm Pharmaceuticals, Inc. *	7,427	187,755
Rigel Pharmaceuticals, Inc. *	48,200	107,486
Rocket Pharmaceuticals, Inc. *	10,739	199,316
Rubius Therapeutics, Inc. *	3,100	54,219
Sage Therapeutics, Inc. *	16,241	2,732,223
Sangamo Therapeutics, Inc. *	39,121	457,324
Sarepta Therapeutics, Inc. *	21,634	2,529,880
Scholar Rock Holding Corp. *	1,652	35,155

Security	Number of Shares	Value ($)
SCYNEXIS, Inc. *	36,822	57,442
Seattle Genetics, Inc. *	34,764	2,356,304
Selecta Biosciences, Inc. *	19,532	41,994
Sesen Bio, Inc. *(a)	48,356	59,961
Sienna Biopharmaceuticals, Inc. *	17,969	33,422
SIGA Technologies, Inc. *	12,274	64,316
Spark Therapeutics, Inc. *	11,473	1,224,054
Spectrum Pharmaceuticals, Inc. *	35,369	331,408
Spero Therapeutics, Inc. *	3,823	42,741
Spring Bank Pharmaceuticals, Inc. *	3,900	28,899
Stemline Therapeutics, Inc. *	17,463	261,945
Supernus Pharmaceuticals, Inc. *	16,821	617,835
Syndax Pharmaceuticals, Inc. *	8,335	59,595
Syneos Health, Inc. *	19,695	924,286
Synlogic, Inc. *	4,700	40,326
Synthorx, Inc. *	3,342	51,133
T2 Biosystems, Inc. *(a)	9,688	24,898
Teligent, Inc. *(a)	12,899	12,640
TG Therapeutics, Inc. *	20,100	159,795
The Medicines Co. *	21,607	690,344
TherapeuticsMD, Inc. *(a)	66,164	284,505
Theravance Biopharma, Inc. *	13,214	315,154
Thermo Fisher Scientific, Inc.	132,019	36,628,672
Tocagen, Inc. *	5,300	52,364
Translate Bio, Inc. *	5,651	54,815
Trevena, Inc. *(a)	31,860	46,834
Tricida, Inc. *	9,420	322,729
Twist Bioscience Corp. *	2,133	50,467
Tyme Technologies, Inc. *(a)	21,100	31,861
Ultragenyx Pharmaceutical, Inc. *	16,832	1,110,912
United Therapeutics Corp. *	14,277	1,464,392
Urovant Sciences Ltd. *	3,443	25,375
Vanda Pharmaceuticals, Inc. *	15,429	251,338
VBI Vaccines, Inc. *	26,272	49,917
Veracyte, Inc. *	9,000	205,830
Vericel Corp. *	16,052	272,723
Verrica Pharmaceuticals, Inc. *	4,091	40,910
Vertex Pharmaceuticals, Inc. *	83,973	14,189,758
Viking Therapeutics, Inc. *(a)	13,300	104,139
Voyager Therapeutics, Inc. *	7,809	164,770
Waters Corp. *	23,640	5,048,086
WaVe Life Sciences Ltd. *	6,065	160,904
XBiotech, Inc. *	6,000	53,460
Xencor, Inc. *	16,064	493,325
Xeris Pharmaceuticals, Inc. *	12,101	123,430
XOMA Corp. *(a)	3,029	35,924
Y-mAbs Therapeutics, Inc. *	1,598	36,786
ZIOPHARM Oncology, Inc. *(a)	53,154	234,941
Zoetis, Inc.	157,233	16,012,609
Zogenix, Inc. *	13,013	507,377
Zynerba Pharmaceuticals, Inc. *(a)	9,398	117,663
		735,089,553

Real Estate 3.9%
Acadia Realty Trust	25,100	708,824
Agree Realty Corp.	11,566	757,226
Alexander & Baldwin, Inc.	20,598	486,525
Alexander's, Inc.	1,421	539,454
Alexandria Real Estate Equities, Inc.	36,743	5,231,836
Altisource Portfolio Solutions S.A. *	3,227	76,383
American Assets Trust, Inc.	12,467	575,851
American Campus Communities, Inc.	45,286	2,137,499
American Finance Trust, Inc.	23,377	229,328
American Homes 4 Rent, Class A	84,315	2,021,874
American Tower Corp.	144,470	28,214,991
Americold Realty Trust	60,528	1,937,501

₄₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Apartment Investment & Management Co., Class A	50,095	2,472,689
Apple Hospitality REIT, Inc.	68,202	1,121,923
Armada Hoffler Properties, Inc.	21,716	350,713
Ashford Hospitality Trust, Inc.	26,337	145,117
AvalonBay Communities, Inc.	45,692	9,180,894
Bluerock Residential Growth REIT, Inc.	7,000	78,470
Boston Properties, Inc.	50,887	7,003,069
Braemar Hotels & Resorts, Inc.	9,906	137,693
Brandywine Realty Trust	56,616	871,320
Brixmor Property Group, Inc.	99,589	1,780,651
BRT Apartments Corp.	3,343	46,902
Camden Property Trust	31,942	3,214,962
CareTrust REIT, Inc.	27,705	671,846
CatchMark Timber Trust, Inc., Class A	18,210	182,100
CBL & Associates Properties, Inc. (a)	72,502	73,227
CBRE Group, Inc., Class A *	101,491	5,284,636
Cedar Realty Trust, Inc.	24,073	73,904
Chatham Lodging Trust	15,396	303,147
Chesapeake Lodging Trust	18,078	515,223
City Office REIT, Inc.	14,341	166,356
Clipper Realty, Inc.	4,400	57,420
Colony Capital, Inc.	172,207	885,144
Columbia Property Trust, Inc.	35,857	814,312
Community Healthcare Trust, Inc.	5,328	194,365
Consolidated-Tomoka Land Co.	2,000	124,000
CoreCivic, Inc.	39,234	816,460
CorEnergy Infrastructure Trust, Inc.	3,676	138,916
CorePoint Lodging, Inc.	10,845	135,563
CoreSite Realty Corp.	11,971	1,309,747
Corporate Office Properties Trust	35,495	989,601
Cousins Properties, Inc.	137,143	1,312,459
Crown Castle International Corp.	136,526	17,172,240
CubeSmart	60,636	1,934,895
CyrusOne, Inc.	35,278	1,964,632
DiamondRock Hospitality Co.	74,589	810,037
Digital Realty Trust, Inc.	68,572	8,071,610
Douglas Emmett, Inc.	52,539	2,164,081
Duke Realty Corp.	117,046	3,642,472
Easterly Government Properties, Inc.	20,310	365,580
EastGroup Properties, Inc.	11,588	1,324,856
Empire State Realty Trust, Inc., Class A	44,686	690,846
EPR Properties	24,282	1,914,879
Equinix, Inc.	27,365	12,442,866
Equity Commonwealth	39,860	1,267,548
Equity LifeStyle Properties, Inc.	29,532	3,446,384
Equity Residential	121,191	9,261,416
Essential Properties Realty Trust, Inc.	15,481	320,147
Essex Property Trust, Inc.	21,425	6,052,563
eXp World Holdings, Inc. *(a)	10,600	115,540
Extra Space Storage, Inc.	42,224	4,378,207
Federal Realty Investment Trust	24,047	3,218,691
First Industrial Realty Trust, Inc.	41,020	1,446,775
Forestar Group, Inc. *	2,213	42,645
Four Corners Property Trust, Inc.	23,222	660,434
Franklin Street Properties Corp.	34,230	269,048
Front Yard Residential Corp.	16,297	161,503
FRP Holdings, Inc. *	2,400	121,656
Gaming & Leisure Properties, Inc.	65,535	2,646,303
Getty Realty Corp.	10,767	349,174
Gladstone Commercial Corp.	10,000	217,500
Gladstone Land Corp.	4,200	53,214
Global Medical REIT, Inc.	6,100	62,220
Global Net Lease, Inc.	25,740	490,862
Griffin Industrial Realty, Inc.	1,332	48,631
Hannon Armstrong Sustainable Infrastructure Capital, Inc.	22,350	594,287
HCP, Inc.	159,036	4,736,092

Security	Number of Shares	Value ($)
Healthcare Realty Trust, Inc.	40,231	1,242,333
Healthcare Trust of America, Inc., Class A	66,598	1,836,773
Hersha Hospitality Trust	10,000	185,700
HFF, Inc., Class A	12,184	579,837
Highwoods Properties, Inc.	34,596	1,542,290
Hospitality Properties Trust	55,854	1,452,204
Host Hotels & Resorts, Inc.	240,719	4,631,434
Hudson Pacific Properties, Inc.	50,327	1,754,399
Independence Realty Trust, Inc.	36,887	390,633
Industrial Logistics Properties Trust	19,682	390,688
InfraREIT, Inc.	11,128	234,244
Innovative Industrial Properties, Inc. (a)	3,735	317,998
Investors Real Estate Trust	3,746	225,809
Invitation Homes, Inc.	110,090	2,736,837
Iron Mountain, Inc.	92,729	3,011,838
iStar, Inc.	19,869	172,264
JBG SMITH Properties	39,120	1,664,556
Jernigan Capital, Inc.	3,937	82,953
Jones Lang LaSalle, Inc.	15,080	2,330,916
Kennedy-Wilson Holdings, Inc.	38,765	834,998
Kilroy Realty Corp.	32,700	2,514,957
Kimco Realty Corp.	137,356	2,388,621
Kite Realty Group Trust	25,983	410,272
Lamar Advertising Co., Class A	27,463	2,270,366
Lexington Realty Trust	76,718	695,832
Liberty Property Trust	47,560	2,360,878
Life Storage, Inc.	14,830	1,413,151
LTC Properties, Inc.	12,155	547,704
Mack-Cali Realty Corp.	28,080	653,702
Marcus & Millichap, Inc. *	5,570	240,067
Maui Land & Pineapple Co., Inc. *	3,129	37,454
MedEquities Realty Trust, Inc.	9,955	106,618
Medical Properties Trust, Inc.	123,126	2,149,780
Mid-America Apartment Communities, Inc.	36,973	4,045,216
Monmouth Real Estate Investment Corp.	32,076	440,724
National Health Investors, Inc.	13,800	1,040,934
National Retail Properties, Inc.	52,169	2,745,133
National Storage Affiliates Trust	19,731	577,329
New Century Financial Corp. *(c)	3,600	—
New Senior Investment Group, Inc.	31,775	177,622
Newmark Group, Inc., Class A	51,828	441,575
NexPoint Residential Trust, Inc.	6,034	226,215
NorthStar Realty Europe Corp.	15,816	281,999
Office Properties Income Trust	15,045	408,321
Omega Healthcare Investors, Inc.	68,515	2,424,746
One Liberty Properties, Inc.	6,071	171,809
Outfront Media, Inc.	45,613	1,086,958
Paramount Group, Inc.	62,880	911,131
Park Hotels & Resorts, Inc.	67,895	2,178,072
Pebblebrook Hotel Trust	43,324	1,410,629
Pennsylvania Real Estate Investment Trust (a)	18,917	113,880
Physicians Realty Trust	61,530	1,111,232
Piedmont Office Realty Trust, Inc., Class A	45,430	945,853
Plymouth Industrial REIT, Inc.	2,889	54,227
PotlatchDeltic Corp.	24,056	930,005
Preferred Apartment Communities, Inc., Class A	15,145	236,868
Prologis, Inc.	207,106	15,878,817
PS Business Parks, Inc.	6,633	1,018,961
Public Storage	49,244	10,891,788
QTS Realty Trust, Inc., Class A	17,617	798,931
Rafael Holdings, Inc., Class B *	3,200	51,840
Rayonier, Inc.	44,038	1,399,968
RE/MAX Holdings, Inc., Class A	6,136	265,873
Realogy Holdings Corp.	39,454	513,691
Realty Income Corp.	99,592	6,972,436

₄₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Redfin Corp. *(a)	23,950	495,286
Regency Centers Corp.	54,903	3,687,835
Retail Opportunity Investments Corp.	40,733	714,864
Retail Properties of America, Inc., Class A	66,408	816,154
Retail Value, Inc.	4,749	159,092
Rexford Industrial Realty, Inc.	32,071	1,215,170
RLJ Lodging Trust	59,027	1,086,687
RPT Realty	32,510	394,346
Ryman Hospitality Properties, Inc.	17,318	1,378,513
Sabra Health Care REIT, Inc.	56,788	1,110,773
Safehold, Inc.	2,548	64,286
Saul Centers, Inc.	4,700	250,745
SBA Communications Corp. *	36,780	7,493,189
Senior Housing Properties Trust	84,248	676,511
Seritage Growth Properties, Class A	11,011	490,981
Simon Property Group, Inc.	101,197	17,577,919
SITE Centers Corp.	46,256	612,429
SL Green Realty Corp.	28,221	2,493,043
Sotherly Hotels, Inc.	6,858	48,417
Spirit MTA REIT	16,032	108,056
Spirit Realty Capital, Inc.	29,164	1,179,975
STAG Industrial, Inc.	40,540	1,166,741
STORE Capital Corp.	63,396	2,112,355
Stratus Properties, Inc. *	1,286	34,439
Summit Hotel Properties, Inc.	41,562	482,535
Sun Communities, Inc.	28,106	3,459,286
Sunstone Hotel Investors, Inc.	72,757	1,047,701
Tanger Factory Outlet Centers, Inc.	28,674	517,852
Taubman Centers, Inc.	21,237	1,046,984
Tejon Ranch Co. *	8,332	143,727
Terreno Realty Corp.	19,224	858,352
The GEO Group, Inc.	38,092	762,602
The Howard Hughes Corp. *	12,520	1,389,720
The Macerich Co.	35,093	1,408,633
The RMR Group, Inc., Class A	3,199	185,030
The St. Joe Co. *	18,800	320,352
Tier REIT, Inc.	16,543	468,829
Transcontinental Realty Investors, Inc. *	1,319	42,868
Trinity Place Holdings, Inc. *	12,207	47,851
UDR, Inc.	90,560	4,070,672
UMH Properties, Inc.	10,800	151,740
Uniti Group, Inc.	58,401	641,827
Universal Health Realty Income Trust	4,004	324,404
Urban Edge Properties	44,072	818,417
Urstadt Biddle Properties, Inc., Class A	9,781	214,497
Ventas, Inc.	117,779	7,197,475
VEREIT, Inc.	314,719	2,599,579
VICI Properties, Inc.	115,929	2,643,181
Vornado Realty Trust	58,077	4,015,444
Washington Prime Group, Inc.	74,197	330,177
Washington Real Estate Investment Trust	23,930	675,783
Weingarten Realty Investors	37,198	1,076,510
Welltower, Inc.	127,388	9,494,228
Weyerhaeuser Co.	247,439	6,631,365
Whitestone REIT	10,368	133,021
WP Carey, Inc.	55,687	4,417,093
Xenia Hotels & Resorts, Inc.	34,928	756,191
		380,732,576

Retailing 6.1%
1-800-Flowers.com, Inc., Class A *	7,004	149,115
Aaron's, Inc.	22,333	1,243,725
Abercrombie & Fitch Co., Class A	21,254	635,282
Advance Auto Parts, Inc.	23,586	3,922,823
Amazon.com, Inc. *	135,361	260,775,674
America's Car-Mart, Inc. *	2,683	265,751
American Eagle Outfitters, Inc.	58,459	1,390,155

Security	Number of Shares	Value ($)
Asbury Automotive Group, Inc. *	5,904	473,383
Ascena Retail Group, Inc. *	50,000	59,500
At Home Group, Inc. *	9,100	213,759
AutoNation, Inc. *	20,397	855,246
AutoZone, Inc. *	8,201	8,433,170
Barnes & Noble, Inc.	16,068	80,822
Bed Bath & Beyond, Inc.	44,734	747,505
Best Buy Co., Inc.	77,122	5,738,648
Big 5 Sporting Goods Corp. (a)	12,274	32,281
Big Lots, Inc.	12,600	468,216
Blue Apron Holdings, Inc., Class A *(a)	46,795	48,199
Booking Holdings, Inc. *	14,765	27,388,927
Boot Barn Holdings, Inc. *	8,400	241,836
Build-A-Bear Workshop, Inc. *	8,460	47,376
Burlington Stores, Inc. *	21,988	3,713,993
Caleres, Inc.	13,090	343,351
Camping World Holdings, Inc., Class A (a)	12,348	184,232
CarMax, Inc. *	56,426	4,393,328
Carvana Co. *(a)	10,744	768,841
Chico's FAS, Inc.	43,544	152,404
Citi Trends, Inc.	3,906	72,300
Conn's, Inc. *	7,143	184,789
Core-Mark Holding Co., Inc.	15,301	556,191
Designer Brands, Inc.	21,162	470,854
Destination XL Group, Inc. *	18,114	38,221
Dick's Sporting Goods, Inc.	23,982	887,334
Dillard's, Inc., Class A	6,379	436,643
Dollar General Corp.	85,917	10,833,275
Dollar Tree, Inc. *	78,061	8,686,628
Duluth Holdings, Inc., Class B *	2,900	46,168
eBay, Inc.	282,261	10,937,614
Etsy, Inc. *	39,027	2,635,884
Expedia Group, Inc.	38,440	4,991,050
Express, Inc. *	20,816	76,603
Five Below, Inc. *	18,005	2,635,752
Floor & Decor Holdings, Inc., Class A *	19,367	930,003
Foot Locker, Inc.	37,189	2,127,583
Fred's, Inc., Class A *	15,075	22,009
Funko, Inc., Class A *	2,900	57,507
Gaia, Inc. *	3,400	35,972
GameStop Corp., Class A	31,567	273,055
Genesco, Inc. *	5,704	255,596
Genuine Parts Co.	47,718	4,893,004
Group 1 Automotive, Inc.	5,612	439,476
Groupon, Inc. *	143,303	504,427
GrubHub, Inc. *	29,181	1,948,999
Guess?, Inc.	16,800	342,216
Haverty Furniture Cos., Inc.	5,712	136,060
Hibbett Sports, Inc. *	5,715	118,300
J. Jill, Inc.	6,408	35,949
J.C. Penney Co., Inc. *	104,289	142,876
Kirkland's, Inc. *	5,229	30,746
Kohl's Corp.	54,726	3,891,019
L Brands, Inc.	74,492	1,909,975
Lands' End, Inc. *	5,100	89,301
Liberty Expedia Holdings, Inc., Class A *	19,377	899,480
Liquidity Services, Inc. *	10,485	71,193
Lithia Motors, Inc., Class A	6,969	791,121
LKQ Corp. *	105,016	3,160,982
Lowe's Cos., Inc.	262,988	29,754,462
Lumber Liquidators Holdings, Inc. *	7,615	100,670
Macy's, Inc.	99,605	2,344,702
MarineMax, Inc. *	6,661	115,169
Monro, Inc.	11,231	941,495
Murphy USA, Inc. *	10,535	900,426
National Vision Holdings, Inc. *	21,179	571,833
Nordstrom, Inc.	34,543	1,416,954
O'Reilly Automotive, Inc. *	25,730	9,740,606

₅₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Office Depot, Inc.	162,879	390,910
Ollie's Bargain Outlet Holdings, Inc. *	17,516	1,675,230
Overstock.com, Inc. *(a)	6,591	86,869
Party City Holdco, Inc. *	16,146	108,178
Penske Automotive Group, Inc.	12,486	573,357
PetMed Express, Inc. (a)	5,544	121,136
Pier 1 Imports, Inc. *	36,228	32,855
Pool Corp.	13,046	2,397,072
Quotient Technology, Inc. *	32,482	301,758
Qurate Retail, Inc. *	135,073	2,302,995
Remark Holdings, Inc. *	20,894	26,326
Rent-A-Center, Inc. *	14,742	367,518
RH *	6,122	653,279
Ross Stores, Inc.	121,162	11,832,681
RTW RetailWinds, Inc. *	15,491	35,939
Sally Beauty Holdings, Inc. *	38,688	684,778
Shoe Carnival, Inc.	4,036	143,924
Shutterfly, Inc. *	11,028	483,357
Shutterstock, Inc.	6,548	264,867
Signet Jewelers Ltd.	17,080	395,914
Sleep Number Corp. *	10,441	363,347
Sonic Automotive, Inc., Class A	7,037	142,358
Sportsman's Warehouse Holdings, Inc. *	10,300	45,938
Stamps.com, Inc. *	5,751	493,436
Stitch Fix, Inc., Class A *	7,900	210,535
Tailored Brands, Inc.	15,557	126,790
Target Corp.	170,963	13,235,955
The Buckle, Inc. (a)	7,969	147,267
The Cato Corp., Class A	7,100	107,636
The Children's Place, Inc.	5,680	640,818
The Container Store Group, Inc. *	6,755	58,363
The Gap, Inc.	70,685	1,843,465
The Home Depot, Inc.	370,224	75,414,629
The Michaels Cos., Inc. *	33,965	381,767
The Rubicon Project, Inc. *	13,000	83,070
The TJX Cos., Inc.	405,481	22,252,797
Tiffany & Co.	35,148	3,789,657
Tile Shop Holdings, Inc.	13,900	67,554
Tilly's, Inc., Class A	8,425	99,078
Tractor Supply Co.	39,577	4,096,219
Tuesday Morning Corp. *	19,035	42,829
Ulta Salon, Cosmetics & Fragrance, Inc. *	18,503	6,457,177
Urban Outfitters, Inc. *	23,531	699,577
Waitr Holdings, Inc. *	19,879	194,019
Wayfair, Inc., Class A *	20,270	3,286,780
Weyco Group, Inc.	3,066	105,194
Williams-Sonoma, Inc.	27,252	1,557,997
Winmark Corp.	768	141,734
Zumiez, Inc. *	5,244	139,648
		594,354,591

Semiconductors & Semiconductor Equipment 3.7%
ACM Research, Inc., Class A *	3,856	66,439
Adesto Technologies Corp. *	7,400	47,138
Advanced Energy Industries, Inc. *	11,720	676,947
Advanced Micro Devices, Inc. *	289,373	7,995,376
Alpha & Omega Semiconductor Ltd. *	6,543	81,133
Amkor Technology, Inc. *	44,787	405,770
Analog Devices, Inc.	120,937	14,057,717
Applied Materials, Inc.	311,222	13,715,554
Axcelis Technologies, Inc. *	11,082	235,936
Broadcom, Inc.	129,924	41,367,802
Brooks Automation, Inc.	25,660	962,507
Cabot Microelectronics Corp.	9,251	1,167,939
CEVA, Inc. *	6,184	155,775
Cirrus Logic, Inc. *	20,721	985,905
Cohu, Inc.	12,667	187,852

Security	Number of Shares	Value ($)
Cree, Inc. *	33,682	2,226,043
CyberOptics Corp. *	2,095	37,165
Cypress Semiconductor Corp.	121,601	2,089,105
Diodes, Inc. *	12,571	457,836
DSP Group, Inc. *	6,300	90,027
Entegris, Inc.	44,467	1,816,922
Everspin Technologies, Inc. *	5,399	45,783
First Solar, Inc. *	23,979	1,475,428
FormFactor, Inc. *	22,390	424,290
GSI Technology, Inc. *	8,500	69,105
Ichor Holdings Ltd. *	8,793	221,408
Impinj, Inc. *	5,438	159,170
Inphi Corp. *	13,242	604,630
Intel Corp.	1,474,424	75,254,601
inTEST Corp. *	6,301	41,713
KLA-Tencor Corp.	53,553	6,826,936
Kopin Corp. *	19,600	24,500
Kulicke & Soffa Industries, Inc.	24,955	580,703
Lam Research Corp.	49,937	10,358,432
Lattice Semiconductor Corp. *	43,433	562,457
MACOM Technology Solutions Holdings, Inc. *	13,284	184,515
Marvell Technology Group Ltd.	195,168	4,883,103
Maxim Integrated Products, Inc.	90,591	5,435,460
MaxLinear, Inc. *	20,732	557,898
Microchip Technology, Inc.	77,735	7,764,951
Micron Technology, Inc. *	367,500	15,457,050
MKS Instruments, Inc.	18,138	1,650,739
Monolithic Power Systems, Inc.	13,091	2,038,400
Nanometrics, Inc. *	7,752	230,932
NeoPhotonics Corp. *	7,437	50,795
NVE Corp.	1,664	159,428
NVIDIA Corp.	198,891	35,999,271
ON Semiconductor Corp. *	136,526	3,148,290
PDF Solutions, Inc. *	9,699	125,893
Photronics, Inc. *	29,300	273,662
Pixelworks, Inc. *	8,973	41,366
Power Integrations, Inc.	9,019	712,681
Qorvo, Inc. *	40,823	3,086,627
QUALCOMM, Inc.	396,626	34,161,397
QuickLogic Corp. *	61,286	45,045
Rambus, Inc. *	34,897	399,920
Rudolph Technologies, Inc. *	9,279	224,459
Semtech Corp. *	20,510	1,104,874
Silicon Laboratories, Inc. *	14,888	1,602,842
Skyworks Solutions, Inc.	57,501	5,070,438
SMART Global Holdings, Inc. *	3,678	79,960
SolarEdge Technologies, Inc. *	15,328	679,030
SunPower Corp. *(a)	22,805	164,652
Synaptics, Inc. *	10,518	396,213
Teradyne, Inc.	58,353	2,859,297
Texas Instruments, Inc.	307,390	36,219,764
Ultra Clean Holdings, Inc. *	13,767	164,791
Universal Display Corp.	13,769	2,197,532
Veeco Instruments, Inc. *	13,473	164,101
Versum Materials, Inc.	35,880	1,872,218
Xilinx, Inc.	82,688	9,934,136
Xperi Corp.	14,408	358,039
		364,975,813

Software & Services 12.0%
2U, Inc. *	20,000	1,210,000
8x8, Inc. *	35,091	839,377
A10 Networks, Inc. *	15,072	97,365
Accenture plc, Class A	208,747	38,131,814
ACI Worldwide, Inc. *	40,140	1,425,773
Adobe, Inc. *	159,988	46,276,529

₅₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Agilysys, Inc. *	5,175	98,998
Akamai Technologies, Inc. *	54,010	4,324,041
Alarm.com Holdings, Inc. *	11,765	833,903
Alliance Data Systems Corp.	14,726	2,357,633
Altair Engineering, Inc., Class A *	9,060	357,326
Alteryx, Inc., Class A *	9,634	853,958
Amber Road, Inc. *	7,500	67,800
American Software, Inc., Class A	9,461	122,520
Anaplan, Inc. *	5,830	229,527
ANSYS, Inc. *	27,676	5,418,961
Appfolio, Inc., Class A *	3,289	319,395
Appian Corp. *	9,651	348,305
Aspen Technology, Inc. *	22,986	2,802,223
Asure Software, Inc. *	7,413	51,594
Autodesk, Inc. *	72,078	12,845,020
Automatic Data Processing, Inc.	142,805	23,475,714
Avalara, Inc. *	2,200	129,514
Avaya Holdings Corp. *	34,372	655,818
Benefitfocus, Inc. *	8,210	334,393
Black Knight, Inc. *	46,886	2,645,308
Blackbaud, Inc.	15,798	1,252,623
Blackline, Inc. *	14,755	753,685
Booz Allen Hamilton Holding Corp.	45,307	2,686,252
Bottomline Technologies (de), Inc. *	13,177	666,361
Box, Inc., Class A *	46,681	962,562
Brightcove, Inc. *	15,409	154,552
Broadridge Financial Solutions, Inc.	38,109	4,501,816
CACI International, Inc., Class A *	7,913	1,542,560
Cadence Design Systems, Inc. *	92,050	6,386,429
Carbonite, Inc. *	9,694	237,794
Cardtronics plc, Class A *	12,687	453,687
Cass Information Systems, Inc.	3,769	185,925
CDK Global, Inc.	41,609	2,509,855
Ceridian HCM Holding, Inc. *	18,146	964,460
ChannelAdvisor Corp. *	6,900	81,075
Cision Ltd. *	25,097	302,670
Citrix Systems, Inc.	40,746	4,113,716
Cloudera, Inc. *	72,993	812,412
Cognizant Technology Solutions Corp., Class A	188,363	13,742,964
CommVault Systems, Inc. *	13,742	722,829
Conduent, Inc. *	60,525	776,536
CoreLogic, Inc. *	27,679	1,124,044
Cornerstone OnDemand, Inc. *	18,618	1,017,474
Coupa Software, Inc. *	17,729	1,831,938
CSG Systems International, Inc.	10,871	485,390
Digimarc Corp. *	3,187	94,941
Digital Turbine, Inc. *	18,000	68,040
DocuSign, Inc. *	7,123	403,660
Domo, Inc., Class B *	2,700	103,437
Dropbox, Inc., Class A *	67,317	1,641,188
DXC Technology Co.	88,632	5,826,668
Ebix, Inc.	6,724	339,428
eGain Corp. *	7,634	76,264
Elastic N.V. *	2,100	179,655
Endurance International Group Holdings, Inc. *	22,190	122,711
Envestnet, Inc. *	16,730	1,187,663
EPAM Systems, Inc. *	16,822	3,017,194
Euronet Worldwide, Inc. *	16,798	2,517,852
Everbridge, Inc. *	10,489	775,032
EVERTEC, Inc.	18,404	576,229
Evo Payments, Inc., Class A *	11,170	331,861
ExlService Holdings, Inc. *	10,709	636,115
Fair Isaac Corp. *	9,452	2,644,197
Fidelity National Information Services, Inc.	105,819	12,267,597
Finjan Holdings, Inc. *	15,437	45,694
FireEye, Inc. *	67,609	1,083,096

Security	Number of Shares	Value ($)
First Data Corp., Class A *	184,150	4,762,119
Fiserv, Inc. *	128,252	11,188,704
Five9, Inc. *	18,926	1,004,403
FleetCor Technologies, Inc. *	28,324	7,391,148
ForeScout Technologies, Inc. *	8,171	343,509
Fortinet, Inc. *	47,916	4,476,313
Gartner, Inc. *	29,486	4,687,389
Genpact Ltd.	48,750	1,769,625
Global Payments, Inc.	51,070	7,459,795
GlobalSCAPE, Inc.	7,401	56,026
GoDaddy, Inc., Class A *	56,302	4,588,613
GreenSky, Inc., Class A *	12,400	198,152
GTT Communications, Inc. *(a)	11,441	479,950
Guidewire Software, Inc. *	26,464	2,818,416
HubSpot, Inc. *	12,240	2,258,158
I3 Verticals, Inc., Class A *	1,974	47,652
Information Services Group, Inc. *	16,112	57,359
Instructure, Inc. *	9,873	425,329
Intelligent Systems Corp. *(a)	2,218	62,681
Internap Corp. *	9,578	37,737
International Business Machines Corp.	291,702	40,917,040
International Money Express, Inc. *	6,533	78,853
Intuit, Inc.	84,822	21,295,411
j2 Global, Inc.	15,865	1,390,091
Jack Henry & Associates, Inc.	25,291	3,769,876
KBR, Inc.	46,622	1,035,941
Leidos Holdings, Inc.	48,894	3,592,731
Limelight Networks, Inc. *	37,860	112,444
LivePerson, Inc. *	20,467	600,297
LiveRamp Holdings, Inc. *	21,737	1,267,919
LogMeIn, Inc.	16,384	1,350,042
Manhattan Associates, Inc. *	20,022	1,350,484
ManTech International Corp., Class A	8,531	528,837
Mastercard, Inc., Class A	295,948	75,241,820
MAXIMUS, Inc.	20,373	1,500,471
Microsoft Corp.	2,516,182	328,613,369
MicroStrategy, Inc., Class A *	2,864	428,741
Mitek Systems, Inc. *	10,165	120,964
MobileIron, Inc. *	31,619	187,501
Model N, Inc. *	7,661	142,035
MoneyGram International, Inc. *	19,116	63,274
MongoDB, Inc. *	9,103	1,282,795
Monotype Imaging Holdings, Inc.	12,486	215,259
NetSol Technologies, Inc. *	5,701	41,389
New Relic, Inc. *	14,677	1,544,607
NIC, Inc.	21,419	369,692
Nuance Communications, Inc. *	95,139	1,601,189
Nutanix, Inc., Class A *	24,928	1,076,640
Okta, Inc. *	25,447	2,647,251
OneSpan, Inc. *	9,000	166,860
Oracle Corp.	834,572	46,176,869
Palo Alto Networks, Inc. *	31,245	7,774,693
Park City Group, Inc. *	5,812	44,927
Paychex, Inc.	104,326	8,795,725
Paycom Software, Inc. *	15,995	3,239,467
Paylocity Holding Corp. *	9,950	960,672
PayPal Holdings, Inc. *	385,131	43,431,223
Paysign, Inc. *	7,000	56,910
Pegasystems, Inc.	11,904	892,919
Perficient, Inc. *	10,300	303,232
Perspecta, Inc.	47,635	1,099,416
PFSweb, Inc. *	7,732	35,722
Pivotal Software, Inc., Class A *	14,213	308,422
Pluralsight, Inc., Class A *	18,398	652,945
Presidio, Inc.	14,732	221,275
PRGX Global, Inc. *	6,500	52,130
Progress Software Corp.	15,976	728,665
Proofpoint, Inc. *	17,904	2,245,520

₅₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
PROS Holdings, Inc. *	10,908	558,926
PTC, Inc. *	34,741	3,143,018
Q2 Holdings, Inc. *	12,356	931,890
QAD, Inc., Class A	3,753	175,903
Qualys, Inc. *	11,618	1,048,641
Rapid7, Inc. *	14,555	790,919
RealNetworks, Inc. *	13,613	35,394
RealPage, Inc. *	23,740	1,548,085
Red Hat, Inc. *	57,895	10,567,574
RingCentral, Inc., Class A *	22,771	2,649,861
Sabre Corp.	89,828	1,864,829
SailPoint Technologies Holding, Inc. *	23,502	664,167
salesforce.com, Inc. *	251,161	41,529,471
Science Applications International Corp.	17,060	1,278,647
SecureWorks Corp., Class A *	2,900	56,318
ServiceNow, Inc. *	58,850	15,978,363
ServiceSource International, Inc. *	26,733	28,337
SharpSpring, Inc. *	3,003	62,462
ShotSpotter, Inc. *	2,300	121,210
Smartsheet, Inc., Class A *	4,529	191,713
Splunk, Inc. *	48,911	6,751,674
SPS Commerce, Inc. *	5,412	561,441
Square, Inc., Class A *	100,173	7,294,598
SS&C Technologies Holdings, Inc.	70,598	4,776,661
StarTek, Inc. *	5,834	40,255
Steel Connect, Inc. *	23,644	46,342
SVMK, Inc. *	6,980	124,942
Switch, Inc., Class A	9,655	104,950
Sykes Enterprises, Inc. *	12,854	356,699
Symantec Corp.	210,923	5,106,446
Synacor, Inc. *	24,152	35,262
Synchronoss Technologies, Inc. *	15,860	85,327
Synopsys, Inc. *	49,285	5,967,428
Tableau Software, Inc., Class A *	23,155	2,820,511
Telaria, Inc. *	8,914	64,270
Telenav, Inc. *	9,800	61,054
Tenable Holdings, Inc. *	3,200	114,880
Teradata Corp. *	39,683	1,804,386
The Hackett Group, Inc.	8,738	134,128
The Trade Desk, Inc., Class A *	11,677	2,586,222
The Ultimate Software Group, Inc. *	10,181	3,366,348
The Western Union Co.	143,151	2,782,855
TiVo Corp.	38,279	358,674
Total System Services, Inc.	53,913	5,512,065
Travelport Worldwide Ltd.	43,382	680,230
TTEC Holdings, Inc.	4,849	176,795
Twilio, Inc., Class A *	30,924	4,240,917
Tyler Technologies, Inc. *	12,492	2,897,020
Unisys Corp. *	15,300	171,513
Upland Software, Inc. *	4,500	209,205
Varonis Systems, Inc. *	9,890	703,674
Verint Systems, Inc. *	21,191	1,279,724
VeriSign, Inc. *	34,692	6,849,935
Veritone, Inc. *(a)	7,563	46,815
Verra Mobility Corp. *	29,010	392,215
VirnetX Holding Corp. *(a)	14,945	95,349
Virtusa Corp. *	10,572	587,275
Visa, Inc., Class A	573,550	94,308,826
VMware, Inc., Class A	24,637	5,029,151
WEX, Inc. *	14,208	2,987,942
Workday, Inc., Class A *	49,767	10,233,588
Workiva, Inc. *	8,050	427,777
Worldpay, Inc., Class A *	99,196	11,626,763
Yext, Inc. *	26,789	586,947
Zendesk, Inc. *	35,407	3,108,026
Zix Corp. *	17,000	138,550

Security	Number of Shares	Value ($)
Zscaler, Inc. *	4,790	327,205
Zuora, Inc., Class A *	3,163	69,902
		1,173,387,063

Technology Hardware & Equipment 5.5%
3D Systems Corp. *	36,503	388,392
Acacia Communications, Inc. *	9,855	570,407
ADTRAN, Inc.	15,268	261,694
Aerohive Networks, Inc. *	10,367	35,040
Airgain, Inc. *	3,401	54,314
Akoustis Technologies, Inc. *	7,703	50,840
Amphenol Corp., Class A	98,071	9,763,949
Anixter International, Inc. *	10,581	665,227
Apple, Inc.	1,469,437	294,871,923
Applied Optoelectronics, Inc. *	6,000	75,120
Arista Networks, Inc. *	17,317	5,407,926
Arlo Technologies, Inc. *	21,716	86,213
Arrow Electronics, Inc. *	27,283	2,305,686
AstroNova, Inc.	1,900	47,538
Aviat Networks, Inc. *	3,298	44,985
Avid Technology, Inc. *	9,400	71,440
Avnet, Inc.	36,328	1,765,904
AVX Corp.	14,751	240,589
Badger Meter, Inc.	8,931	495,492
Bel Fuse, Inc., Class B	3,500	82,950
Belden, Inc.	12,455	691,875
Benchmark Electronics, Inc.	13,708	370,527
CalAmp Corp. *	9,892	144,522
Calix, Inc. *	12,108	82,940
Casa Systems, Inc. *	8,800	84,392
CDW Corp.	48,916	5,165,530
Ciena Corp. *	47,421	1,819,070
Cisco Systems, Inc.	1,443,606	80,769,756
Clearfield, Inc. *	3,291	48,509
Cognex Corp.	56,191	2,833,712
Coherent, Inc. *	8,069	1,194,293
CommScope Holding Co., Inc. *	61,232	1,517,329
Comtech Telecommunications Corp.	8,949	210,570
Control4 Corp. *	7,683	133,761
Corning, Inc.	256,613	8,173,124
Cray, Inc. *	14,399	378,118
CTS Corp.	10,207	305,700
Daktronics, Inc.	14,170	107,409
DASAN Zhone Solutions, Inc. *	4,470	51,226
Dell Technologies, Inc., Class C *	48,395	3,262,307
Diebold Nixdorf, Inc. *	28,307	285,618
Digi International, Inc. *	9,100	117,117
Dolby Laboratories, Inc., Class A	20,574	1,330,932
Eastman Kodak Co. *(a)	13,330	32,792
EchoStar Corp., Class A *	15,207	605,999
Electronics For Imaging, Inc. *	15,647	581,912
EMCORE Corp. *	11,147	43,696
ePlus, Inc. *	3,969	374,237
Extreme Networks, Inc. *	36,200	289,600
F5 Networks, Inc. *	19,170	3,007,773
Fabrinet *	12,888	779,982
FARO Technologies, Inc. *	6,085	342,281
Finisar Corp. *	38,142	919,604
Fitbit, Inc., Class A *	69,583	367,398
FLIR Systems, Inc.	43,766	2,316,972
Frequency Electronics, Inc. *	3,930	47,357
Harmonic, Inc. *	28,370	160,574
Hewlett Packard Enterprise Co.	453,685	7,172,760
HP, Inc.	503,648	10,047,778
I.D. Systems, Inc. *	7,153	40,128
Identiv, Inc. *	8,288	42,683
IEC Electronics Corp. *	6,511	49,158

₅₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
II-VI, Inc. *	20,259	807,119
Immersion Corp. *	10,166	96,069
Infinera Corp. *	49,462	214,665
Inseego Corp. *(a)	13,900	63,523
Insight Enterprises, Inc. *	11,782	666,626
InterDigital, Inc.	11,287	738,057
Intevac, Inc. *	6,954	33,310
IPG Photonics Corp. *	11,818	2,064,959
Iteris, Inc. *	7,250	31,465
Itron, Inc. *	10,420	559,137
Jabil, Inc.	45,500	1,374,555
Juniper Networks, Inc.	112,342	3,119,737
KEMET Corp.	20,294	362,654
Key Tronic Corp. *	7,019	38,955
Keysight Technologies, Inc. *	61,496	5,351,997
Kimball Electronics, Inc. *	11,150	168,700
Knowles Corp. *	30,607	577,860
KVH Industries, Inc. *	5,000	49,000
Littelfuse, Inc.	8,379	1,684,598
LRAD Corp. *	16,638	51,245
Lumentum Holdings, Inc. *	24,294	1,505,499
Luna Innovations, Inc. *	11,699	51,944
Methode Electronics, Inc.	11,479	338,745
MicroVision, Inc. *	37,436	37,436
Motorola Solutions, Inc.	54,117	7,842,094
MTS Systems Corp.	5,904	324,602
Napco Security Technologies, Inc. *	3,300	81,774
National Instruments Corp.	38,023	1,790,883
NCR Corp. *	38,411	1,111,998
NetApp, Inc.	81,033	5,903,254
NETGEAR, Inc. *	9,502	294,847
NetScout Systems, Inc. *	21,875	643,125
nLight, Inc. *	1,656	43,271
Novanta, Inc. *	10,959	953,652
OSI Systems, Inc. *	5,852	527,441
PAR Technology Corp. *(a)	3,100	73,501
Park Electrochemical Corp.	6,594	108,471
PC Connection, Inc.	4,382	162,835
PC-Tel, Inc. *	9,339	44,173
PCM, Inc. *	2,500	68,975
Perceptron, Inc. *	5,911	43,032
Plantronics, Inc.	11,458	589,858
Plexus Corp. *	10,389	625,210
Pure Storage, Inc., Class A *	56,350	1,288,161
Quantenna Communications, Inc. *	8,500	206,975
Ribbon Communications, Inc. *	15,542	83,305
Richardson Electronics Ltd.	6,205	36,299
Rogers Corp. *	6,188	1,036,614
Sanmina Corp. *	22,139	750,955
ScanSource, Inc. *	9,015	339,415
Seagate Technology plc	83,973	4,057,575
SYNNEX Corp.	13,580	1,465,010
TE Connectivity Ltd.	110,701	10,588,551
Tech Data Corp. *	12,437	1,325,909
TESSCO Technologies, Inc.	1,269	23,527
TransAct Technologies, Inc.	5,070	47,759
Trimble, Inc. *	81,888	3,342,668
TTM Technologies, Inc. *	28,872	382,265
Ubiquiti Networks, Inc.	6,440	1,097,698
ViaSat, Inc. *	19,196	1,743,381
Viavi Solutions, Inc. *	71,700	953,610
Vishay Intertechnology, Inc.	42,924	850,324
Vishay Precision Group, Inc. *	4,093	155,002
Western Digital Corp.	95,779	4,896,222
Wrap Technologies, Inc. *(a)	7,550	51,038

Security	Number of Shares	Value ($)
Xerox Corp.	65,784	2,194,554
Zebra Technologies Corp., Class A *	17,711	3,739,501
		535,463,819

Telecommunication Services 1.8%
Alaska Communications Systems Group, Inc. *	26,271	45,712
AT&T, Inc.	2,389,386	73,975,391
ATN International, Inc.	3,277	200,061
Bandwidth, Inc., Class A *	3,693	278,526
Boingo Wireless, Inc. *	12,610	286,751
CenturyLink, Inc.	307,696	3,513,888
Cincinnati Bell, Inc. *	14,894	132,557
Cogent Communications Holdings, Inc.	13,036	719,978
Consolidated Communications Holdings, Inc.	30,887	159,377
Frontier Communications Corp. *(a)	31,111	88,666
Globalstar, Inc. *	173,777	92,884
Gogo, Inc. *(a)	16,000	84,160
IDT Corp., Class B *	6,600	46,992
Iridium Communications, Inc. *	33,235	912,633
NII Holdings, Inc. *	28,127	55,129
Ooma, Inc. *	5,385	72,644
ORBCOMM, Inc. *	28,696	207,759
Pareteum Corp. *(a)	15,774	71,930
pdvWireless, Inc. *	2,756	109,689
Shenandoah Telecommunications Co.	15,310	632,762
Spok Holdings, Inc.	5,240	72,574
Sprint Corp. *	196,285	1,095,270
T-Mobile US, Inc. *	101,971	7,442,863
Telephone & Data Systems, Inc.	31,867	1,015,920
United States Cellular Corp. *	5,400	259,740
Verizon Communications, Inc.	1,355,141	77,500,514
Vonage Holdings Corp. *	68,775	668,493
Zayo Group Holdings, Inc. *	66,860	2,092,049
		171,834,912

Transportation 2.0%
Air Transport Services Group, Inc. *	21,611	508,507
Alaska Air Group, Inc.	40,363	2,498,470
Allegiant Travel Co.	4,000	587,520
AMERCO	2,676	998,603
American Airlines Group, Inc.	132,182	4,517,981
ArcBest Corp.	9,560	292,154
Atlas Air Worldwide Holdings, Inc. *	7,665	370,143
Avis Budget Group, Inc. *	20,631	733,432
C.H. Robinson Worldwide, Inc.	44,734	3,623,454
Covenant Transportation Group, Inc., Class A *	3,000	58,590
CSX Corp.	253,717	20,203,485
Daseke, Inc. *	20,197	104,217
Delta Air Lines, Inc.	203,289	11,849,716
Eagle Bulk Shipping, Inc. *	21,200	115,540
Echo Global Logistics, Inc. *	10,195	233,873
Expeditors International of Washington, Inc.	55,932	4,442,119
FedEx Corp.	78,860	14,940,816
Forward Air Corp.	9,608	608,379
Genco Shipping & Trading Ltd. *	3,574	36,097
Genesee & Wyoming, Inc., Class A *	17,960	1,592,154
Hawaiian Holdings, Inc.	15,015	423,573
Heartland Express, Inc.	16,083	316,513
Hertz Global Holdings, Inc. *	16,276	295,898
Hub Group, Inc., Class A *	10,614	441,224
JB Hunt Transport Services, Inc.	28,283	2,672,178
JetBlue Airways Corp. *	99,277	1,841,588

₅₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab Total Stock Market Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Kansas City Southern	33,219	4,090,588
Kirby Corp. *	18,227	1,489,510
Knight-Swift Transportation Holdings, Inc.	41,398	1,380,623
Landstar System, Inc.	13,558	1,477,280
Macquarie Infrastructure Corp.	25,201	1,020,892
Marten Transport Ltd.	16,755	331,414
Matson, Inc.	14,354	568,562
Mesa Air Group, Inc. *	2,843	25,985
Norfolk Southern Corp.	87,401	17,831,552
Old Dominion Freight Line, Inc.	21,502	3,209,819
P.A.M. Transportation Services, Inc. *	907	45,368
Radiant Logistics, Inc. *	10,193	66,662
Roadrunner Transportation Systems, Inc. *	4,781	53,117
Ryder System, Inc.	16,655	1,049,265
Saia, Inc. *	9,047	582,536
Schneider National, Inc., Class B	9,373	195,896
SkyWest, Inc.	17,068	1,051,218
Southwest Airlines Co.	162,463	8,810,368
Spirit Airlines, Inc. *	21,713	1,180,753
Union Pacific Corp.	236,901	41,940,953
United Continental Holdings, Inc. *	73,262	6,510,061
United Parcel Service, Inc., Class B	227,885	24,205,945
Universal Logistics Holdings, Inc.	3,300	80,586
Werner Enterprises, Inc.	13,355	447,392
XPO Logistics, Inc. *	36,386	2,477,159
YRC Worldwide, Inc. *	8,600	58,566
		194,488,294

Utilities 3.1%
AES Corp.	215,144	3,683,265
ALLETE, Inc.	17,471	1,423,013
Alliant Energy Corp.	77,010	3,637,182
Ameren Corp.	80,429	5,852,818
American Electric Power Co., Inc.	162,195	13,875,782
American States Water Co.	11,892	846,354
American Water Works Co., Inc.	59,198	6,404,632
Aqua America, Inc.	69,053	2,697,210
AquaVenture Holdings Ltd. *	3,900	75,855
Artesian Resources Corp., Class A	3,837	139,206
Atmos Energy Corp.	37,991	3,887,999
Avangrid, Inc.	17,304	886,138
Avista Corp.	21,423	924,188
Black Hills Corp.	17,312	1,259,621
Cadiz, Inc. *(a)	6,356	65,085
California Water Service Group	15,402	776,107
CenterPoint Energy, Inc.	163,248	5,060,688
Chesapeake Utilities Corp.	5,602	518,969
Clearway Energy, Inc., Class A	11,000	169,070
Clearway Energy, Inc., Class C	26,372	418,524
CMS Energy Corp.	92,319	5,128,320
Connecticut Water Service, Inc.	3,873	265,572
Consolidated Edison, Inc.	105,766	9,112,799
Dominion Energy, Inc.	262,206	20,417,981
DTE Energy Co.	59,785	7,515,572
Duke Energy Corp.	238,425	21,725,286
Edison International	107,573	6,859,930
El Paso Electric Co.	12,777	780,802
Entergy Corp.	61,311	5,941,036
Evergy, Inc.	84,416	4,880,933
Eversource Energy	103,539	7,419,605
Exelon Corp.	317,548	16,179,071
FirstEnergy Corp.	163,247	6,861,271
Genie Energy Ltd., Class B	5,585	48,534
Global Water Resources, Inc.	4,694	45,767
Hawaiian Electric Industries, Inc.	35,748	1,482,827
IDACORP, Inc.	17,160	1,699,183
MDU Resources Group, Inc.	66,666	1,743,316

Security	Number of Shares	Value ($)
MGE Energy, Inc.	11,963	810,972
Middlesex Water Co.	5,342	309,783
National Fuel Gas Co.	28,185	1,668,834
New Jersey Resources Corp.	27,920	1,398,234
NextEra Energy, Inc.	156,514	30,432,582
NiSource, Inc.	121,798	3,383,548
Northwest Natural Holding Co.	8,913	596,191
NorthWestern Corp.	16,100	1,124,585
NRG Energy, Inc.	93,108	3,833,256
OGE Energy Corp.	65,564	2,775,980
ONE Gas, Inc.	17,772	1,573,177
Ormat Technologies, Inc.	17,239	1,006,068
Otter Tail Corp.	13,885	712,301
Pattern Energy Group, Inc., Class A	33,146	766,336
Pinnacle West Capital Corp.	36,399	3,467,733
PNM Resources, Inc.	25,500	1,184,220
Portland General Electric Co.	27,720	1,450,033
PPL Corp.	236,168	7,370,803
Public Service Enterprise Group, Inc.	165,603	9,878,219
Pure Cycle Corp. *	8,000	80,400
RGC Resources, Inc.	2,000	55,400
Sempra Energy	89,809	11,491,062
SJW Group.	7,118	441,743
South Jersey Industries, Inc.	32,706	1,050,517
Southwest Gas Holdings, Inc. *	17,141	1,425,960
Spark Energy, Inc., Class A	5,059	47,858
Spire, Inc.	16,209	1,364,636
TerraForm Power, Inc., Class A	27,688	375,449
The Southern Co.	339,602	18,073,618
The York Water Co.	4,611	156,912
UGI Corp.	57,518	3,135,306
Unitil Corp.	4,900	278,859
Vistra Energy Corp.	129,436	3,527,131
WEC Energy Group, Inc.	103,825	8,142,995
Xcel Energy, Inc.	168,433	9,516,464
		303,616,676
Total Common Stock
(Cost $5,833,778,641)		9,690,430,355

Rights 0.0% of net assets

Materials 0.0%
A. Schulman, Inc. CVR *(c)	8,178	3,541

Media & Entertainment 0.0%
Media General, Inc. CVR *(c)	18,400	1,566

Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Corium International, Inc. CVR *(c)	8,309	1,495
FRD Acquisition Co. CVR *(c)	8,700	—
Galectin Therapeutics, Inc. *(c)	8,013	—
		1,495
Total Rights
(Cost $5,036)		6,602

Other Investment Company 0.1% of net assets

Securities Lending Collateral 0.1%
Wells Fargo Government Money Market Fund, Select Class 2.36% (d)	11,644,771	11,644,771
Total Other Investment Company
(Cost $11,644,771)		11,644,771

₅₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 0.4%
Aptiv plc	2,275	194,967
Garrett Motion, Inc. *	475	8,930
Gentex Corp.	1,800	41,454
Lear Corp.	68	9,724
Tesla, Inc. *	1,382	329,869
Thor Industries, Inc.	410	27,007
Visteon Corp. *	179	11,818
		623,769

Banks 0.2%
BOK Financial Corp.	58	5,054
Comerica, Inc.	100	7,859
East West Bancorp, Inc.	100	5,148
Pinnacle Financial Partners, Inc.	337	19,569
Signature Bank	333	43,979
SVB Financial Group *	408	102,702
Synovus Financial Corp.	465	17,140
Texas Capital Bancshares, Inc. *	326	21,102
Western Alliance Bancorp *	587	28,047
		250,600

Capital Goods 8.0%
3M Co.	4,712	892,971
A.O. Smith Corp.	1,417	74,492
Air Lease Corp.	79	3,046
Allegion plc	788	78,193
Allison Transmission Holdings, Inc.	1,154	54,076
AMETEK, Inc.	447	39,412
Armstrong World Industries, Inc.	437	37,875
BWX Technologies, Inc.	1,004	51,304
Caterpillar, Inc.	5,312	740,599
Cummins, Inc.	538	89,464
Curtiss-Wright Corp.	43	4,899
Deere & Co.	3,225	534,157
Donaldson Co., Inc.	1,197	64,087
Emerson Electric Co.	4,382	311,078
Fastenal Co.	2,902	204,736
Fortive Corp.	2,719	234,759
Fortune Brands Home & Security, Inc.	606	31,985
Gardner Denver Holdings, Inc. *	411	13,871
General Dynamics Corp.	1,143	204,277
Graco, Inc.	1,652	84,665
Harris Corp.	1,195	201,358
HD Supply Holdings, Inc. *	524	23,942
HEICO Corp.	388	40,946
HEICO Corp., Class A	765	68,414
Hexcel Corp.	180	12,728
Honeywell International, Inc.	4,558	791,406
Hubbell, Inc.	374	47,722
Huntington Ingalls Industries, Inc.	369	82,132
IDEX Corp.	725	113,579
Illinois Tool Works, Inc.	3,335	519,026
Ingersoll-Rand plc	1,339	164,175
Lennox International, Inc.	336	91,207

Security	Number of Shares	Value ($)
Lincoln Electric Holdings, Inc.	623	54,369
Lockheed Martin Corp.	2,259	752,993
Masco Corp.	2,038	79,604
MSC Industrial Direct Co., Inc., Class A	192	16,061
Nordson Corp.	540	78,813
Northrop Grumman Corp.	1,587	460,087
Parker-Hannifin Corp.	236	42,735
Quanta Services, Inc.	409	16,605
Raytheon Co.	2,895	514,123
Resideo Technologies, Inc. *	757	17,184
Rockwell Automation, Inc.	1,212	219,021
Roper Technologies, Inc.	189	67,983
Sensata Technologies Holding plc *	894	44,646
Spirit AeroSystems Holdings, Inc., Class A	1,070	92,983
Textron, Inc.	413	21,889
The Boeing Co.	5,401	2,039,904
The Middleby Corp. *	325	42,942
The Toro Co.	1,048	76,661
TransDigm Group, Inc. *	488	235,470
United Rentals, Inc. *	796	112,172
Univar, Inc. *	154	3,439
W.W. Grainger, Inc.	460	129,720
WABCO Holdings, Inc. *	522	69,134
Wabtec Corp.	312	23,110
Watsco, Inc.	260	41,202
Welbilt, Inc. *	1,315	22,131
Xylem, Inc.	1,000	83,400
		11,264,962

Commercial & Professional Services 1.1%
Cintas Corp.	863	187,392
Copart, Inc. *	2,030	136,660
CoStar Group, Inc. *	361	179,146
Equifax, Inc.	329	41,437
KAR Auction Services, Inc.	1,258	71,052
Republic Services, Inc.	150	12,423
Robert Half International, Inc.	1,182	73,390
Rollins, Inc.	1,458	56,381
TransUnion	1,861	129,619
Verisk Analytics, Inc.	1,617	228,223
Waste Management, Inc.	3,644	391,147
		1,506,870

Consumer Durables & Apparel 1.6%
Brunswick Corp.	81	4,148
Capri Holdings Ltd. *	773	34,074
Carter's, Inc.	457	48,401
Columbia Sportswear Co.	31	3,099
D.R. Horton, Inc.	2,023	89,639
Hanesbrands, Inc.	3,597	64,998
Hasbro, Inc.	909	92,591
Lennar Corp., B Shares	109	4,547
Lennar Corp., Class A	1,510	78,565
lululemon Athletica, Inc. *	964	170,001
Mattel, Inc. *	835	10,179
NIKE, Inc., Class B	12,419	1,090,761
NVR, Inc. *	31	97,727
Polaris Industries, Inc.	588	56,683

₅₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
PulteGroup, Inc.	814	25,608
Skechers U.S.A., Inc., Class A *	634	20,072
Tapestry, Inc.	582	18,781
Tempur Sealy International, Inc. *	459	28,183
Toll Brothers, Inc.	687	26,175
Under Armour, Inc., Class A *	1,432	33,065
Under Armour, Inc., Class C *	1,416	29,340
VF Corp.	2,509	236,875
		2,263,512

Consumer Services 2.4%
Bright Horizons Family Solutions, Inc. *	485	62,153
Chipotle Mexican Grill, Inc. *	246	169,258
Choice Hotels International, Inc.	339	28,151
Darden Restaurants, Inc.	624	73,382
Domino's Pizza, Inc.	417	112,832
Dunkin' Brands Group, Inc.	831	62,017
Extended Stay America, Inc.	1,156	20,704
frontdoor, Inc. *	871	30,694
Grand Canyon Education, Inc. *	474	54,932
H&R Block, Inc.	408	11,102
Hilton Grand Vacations, Inc. *	949	30,406
Hilton Worldwide Holdings, Inc.	2,778	241,658
International Game Technology plc	57	834
Las Vegas Sands Corp.	2,208	148,046
Marriott International, Inc., Class A	2,848	388,524
McDonald's Corp.	1,519	300,109
MGM Resorts International	435	11,584
Service Corp. International	836	34,786
ServiceMaster Global Holdings, Inc. *	1,360	66,681
Six Flags Entertainment Corp.	735	39,021
Starbucks Corp.	12,175	945,754
The Wendy's Co.	1,902	35,396
Vail Resorts, Inc.	405	92,684
Wyndham Destinations, Inc.	971	42,297
Wyndham Hotels & Resorts, Inc.	987	54,996
Wynn Resorts Ltd.	1,039	150,083
Yum China Holdings, Inc.	324	15,403
Yum! Brands, Inc.	899	93,847
		3,317,334

Diversified Financials 3.2%
American Express Co.	4,800	562,704
Ameriprise Financial, Inc.	217	31,849
Berkshire Hathaway, Inc., Class B *	2,461	533,323
Capital One Financial Corp.	369	34,254
Cboe Global Markets, Inc.	1,045	106,183
CME Group, Inc.	416	74,423
Credit Acceptance Corp. *	102	50,615
Discover Financial Services	1,517	123,620
E*TRADE Financial Corp.	576	29,180
Eaton Vance Corp.	1,135	47,182
Evercore, Inc., Class A	409	39,849
FactSet Research Systems, Inc.	378	104,279
Interactive Brokers Group, Inc., Class A	685	37,154
Intercontinental Exchange, Inc.	2,932	238,518
Lazard Ltd., Class A	1,065	41,407
LPL Financial Holdings, Inc.	844	62,532
MarketAxess Holdings, Inc.	367	102,147
Moody's Corp.	1,680	330,322
Morningstar, Inc.	182	26,108
MSCI, Inc.	832	187,516
Northern Trust Corp.	572	56,371
OneMain Holdings, Inc.	44	1,495
Raymond James Financial, Inc.	383	35,071
S&P Global, Inc.	2,505	552,753

Security	Number of Shares	Value ($)
Santander Consumer USA Holdings, Inc.	156	3,331
SEI Investments Co.	1,294	70,458
State Street Corp.	249	16,847
Synchrony Financial	2,512	87,091
T. Rowe Price Group, Inc.	2,178	234,135
TD Ameritrade Holding Corp.	2,794	146,909
The Charles Schwab Corp. (a)	12,085	553,251
Virtu Financial, Inc., Class A	445	10,938
Voya Financial, Inc.	107	5,873
		4,537,688

Energy 0.7%
Anadarko Petroleum Corp.	1,715	124,938
Antero Resources Corp. *	1,228	8,903
Apache Corp.	237	7,800
Cabot Oil & Gas Corp.	3,134	81,139
Cheniere Energy, Inc. *	1,604	103,217
Chesapeake Energy Corp. *	1,295	3,768
Cimarex Energy Co.	133	9,132
Concho Resources, Inc.	259	29,883
Continental Resources, Inc. *	424	19,500
Diamondback Energy, Inc.	256	27,236
EOG Resources, Inc.	655	62,913
Halliburton Co.	8,801	249,332
Kosmos Energy Ltd.	575	3,847
ONEOK, Inc.	1,704	115,753
Parsley Energy, Inc., Class A *	1,866	37,245
Pioneer Natural Resources Co.	943	156,972
RPC, Inc.	285	2,933
		1,044,511

Food & Staples Retailing 1.0%
Costco Wholesale Corp.	4,407	1,082,051
Sprouts Farmers Market, Inc. *	1,239	26,539
Sysco Corp.	4,731	332,920
U.S. Foods Holding Corp. *	134	4,898
		1,446,408

Food, Beverage & Tobacco 3.8%
Altria Group, Inc.	19,098	1,037,594
Brown-Forman Corp., Class A	530	27,719
Brown-Forman Corp., Class B	2,804	149,425
Campbell Soup Co.	1,231	47,627
Constellation Brands, Inc., Class A	1,564	331,052
General Mills, Inc.	293	15,081
Kellogg Co.	1,241	74,832
Keurig Dr Pepper, Inc.	1,832	53,256
McCormick & Co., Inc. - Non Voting Shares	73	11,240
Monster Beverage Corp. *	4,023	239,771
PepsiCo, Inc.	12,674	1,622,906
Post Holdings, Inc. *	379	42,744
The Coca-Cola Co.	29,938	1,468,758
The Hershey Co.	1,290	161,057
		5,283,062

Health Care Equipment & Services 5.3%
ABIOMED, Inc. *	432	119,841
Align Technology, Inc. *	799	259,419
AmerisourceBergen Corp.	1,545	115,504
Baxter International, Inc.	566	43,186
Becton, Dickinson & Co.	242	58,259
Boston Scientific Corp. *	10,687	396,701
Cantel Medical Corp.	364	25,094
Centene Corp. *	3,617	186,493

₅₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Cerner Corp. *	1,401	93,097
Chemed Corp.	156	50,978
Cigna Corp. *	1,062	168,688
Covetrus, Inc. *	121	3,977
CVS Health Corp.	985	53,564
DaVita, Inc. *	686	37,895
DexCom, Inc. *	874	105,815
Edwards Lifesciences Corp. *	2,116	372,564
Encompass Health Corp.	981	63,226
HCA Healthcare, Inc.	1,960	249,371
Henry Schein, Inc. *	220	14,093
Hill-Rom Holdings, Inc.	433	43,915
Humana, Inc.	1,295	330,756
ICU Medical, Inc. *	159	36,173
IDEXX Laboratories, Inc. *	865	200,680
Insulet Corp. *	587	50,629
Integra LifeSciences Holdings Corp. *	538	28,078
Intuitive Surgical, Inc. *	1,145	584,671
Laboratory Corp. of America Holdings *	58	9,275
Masimo Corp. *	463	60,259
McKesson Corp.	237	28,262
Molina Healthcare, Inc. *	526	68,185
Penumbra, Inc. *	310	41,695
Premier, Inc., Class A *	199	6,613
ResMed, Inc.	1,420	148,404
Stryker Corp.	3,444	650,606
Teleflex, Inc.	87	24,898
The Cooper Cos., Inc.	78	22,614
UnitedHealth Group, Inc.	9,641	2,247,028
Varian Medical Systems, Inc. *	925	125,957
Veeva Systems, Inc., Class A *	1,258	175,957
WellCare Health Plans, Inc. *	469	121,166
West Pharmaceutical Services, Inc.	175	21,663
		7,445,249

Household & Personal Products 0.9%
Church & Dwight Co., Inc.	2,093	156,870
Colgate-Palmolive Co.	1,594	116,027
Energizer Holdings, Inc.	361	17,288
Herbalife Nutrition Ltd. *	202	10,676
Kimberly-Clark Corp.	3,012	386,681
Nu Skin Enterprises, Inc., Class A	176	8,953
Spectrum Brands Holdings, Inc.	179	11,021
The Clorox Co.	1,127	180,016
The Estee Lauder Cos., Inc., Class A	2,155	370,251
		1,257,783

Insurance 1.0%
Alleghany Corp. *	17	11,167
American International Group, Inc.	1,289	61,318
Aon plc	2,422	436,299
Arch Capital Group Ltd. *	630	21,281
Axis Capital Holdings Ltd.	88	5,003
Brown & Brown, Inc.	127	4,032
Erie Indemnity Co., Class A	191	36,160
Everest Re Group Ltd.	163	38,387
Markel Corp. *	12	12,858
Marsh & McLennan Cos., Inc.	2,390	225,353
RenaissanceRe Holdings Ltd.	31	4,816
The Progressive Corp.	5,843	456,631
The Travelers Cos., Inc.	519	74,606
		1,387,911

Security	Number of Shares	Value ($)
Materials 1.8%
Avery Dennison Corp.	873	96,597
Axalta Coating Systems Ltd. *	812	21,908
Berry Global Group, Inc. *	665	39,102
Celanese Corp.	821	88,578
Crown Holdings, Inc. *	1,296	75,337
Eagle Materials, Inc.	397	36,091
Ecolab, Inc.	1,163	214,085
Element Solutions, Inc. *	1,106	12,011
FMC Corp.	550	43,483
Graphic Packaging Holding Co.	563	7,814
International Flavors & Fragrances, Inc.	481	66,277
International Paper Co.	469	21,954
Linde plc	3,284	591,974
LyondellBasell Industries N.V., Class A	1,475	130,139
Martin Marietta Materials, Inc.	584	129,590
NewMarket Corp.	71	29,790
Packaging Corp. of America	937	92,913
PPG Industries, Inc.	162	19,035
Royal Gold, Inc.	268	23,332
RPM International, Inc.	261	15,830
Sealed Air Corp.	875	40,793
Silgan Holdings, Inc.	274	8,204
Southern Copper Corp.	844	32,427
Steel Dynamics, Inc.	324	10,264
The Chemours Co.	1,712	61,649
The Scotts Miracle-Gro Co.	206	17,514
The Sherwin-Williams Co.	839	381,602
Vulcan Materials Co.	1,249	157,511
W.R. Grace & Co.	504	38,092
Westlake Chemical Corp.	335	23,366
		2,527,262

Media & Entertainment 12.2%
Activision Blizzard, Inc.	7,594	366,107
Alphabet, Inc., Class A *	3,014	3,613,665
Alphabet, Inc., Class C *	3,072	3,651,011
AMC Networks, Inc., Class A *	437	25,525
Cable One, Inc.	43	45,603
CBS Corp., Class B - Non Voting Shares	3,282	168,268
Charter Communications, Inc., Class A *	1,207	448,026
Electronic Arts, Inc. *	2,990	283,004
Facebook, Inc., Class A *	23,988	4,639,279
IAC/InterActiveCorp *	751	168,855
Lions Gate Entertainment Corp., Class A	42	613
Lions Gate Entertainment Corp., Class B	132	1,795
Live Nation Entertainment, Inc. *	1,394	91,084
Match Group, Inc.	536	32,374
Netflix, Inc. *	4,204	1,557,750
Omnicom Group, Inc.	1,477	118,204
Sirius XM Holdings, Inc.	16,593	96,405
Take-Two Interactive Software, Inc. *	663	64,198
The Interpublic Group of Cos., Inc.	403	9,269
The Madison Square Garden Co., Class A *	17	5,312
The Walt Disney Co.	10,759	1,473,660
TripAdvisor, Inc. *	1,047	55,732
Twitter, Inc. *	7,213	287,871
Zillow Group, Inc., Class A *	431	14,314
Zillow Group, Inc., Class C *	871	29,091
		17,247,015

Pharmaceuticals, Biotechnology & Life Sciences 6.8%
AbbVie, Inc.	15,288	1,213,714
Agios Pharmaceuticals, Inc. *	465	26,003
Alexion Pharmaceuticals, Inc. *	1,793	244,081

₅₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Alkermes plc *	1,555	47,148
Alnylam Pharmaceuticals, Inc. *	834	74,510
Amgen, Inc.	5,985	1,073,230
Bio-Techne Corp.	371	75,903
Biogen, Inc. *	1,880	430,971
BioMarin Pharmaceutical, Inc. *	1,782	152,414
Bluebird Bio, Inc. *	374	53,044
Bristol-Myers Squibb Co.	8,778	407,563
Bruker Corp.	396	15,286
Catalent, Inc. *	355	15,911
Celgene Corp. *	7,080	670,193
Charles River Laboratories International, Inc. *	341	47,900
Elanco Animal Health, Inc. *	1,572	49,518
Eli Lilly & Co.	5,486	642,081
Exact Sciences Corp. *	1,198	118,231
Exelixis, Inc. *	2,937	57,741
Gilead Sciences, Inc.	9,594	623,994
Illumina, Inc. *	1,480	461,760
Incyte Corp. *	1,759	135,091
Ionis Pharmaceuticals, Inc. *	1,249	92,838
Jazz Pharmaceuticals plc *	541	70,206
Johnson & Johnson	4,875	688,350
Merck & Co., Inc.	1,749	137,664
Mettler-Toledo International, Inc. *	248	184,825
Moderna, Inc. *	275	7,158
Nektar Therapeutics *	1,575	50,432
Neurocrine Biosciences, Inc. *	901	65,088
PRA Health Sciences, Inc. *	581	56,252
Regeneron Pharmaceuticals, Inc. *	815	279,659
Sage Therapeutics, Inc. *	493	82,937
Sarepta Therapeutics, Inc. *	662	77,414
Seattle Genetics, Inc. *	1,082	73,338
Thermo Fisher Scientific, Inc.	237	65,756
Vertex Pharmaceuticals, Inc. *	2,574	434,955
Waters Corp. *	706	150,759
Zoetis, Inc.	4,886	497,590
		9,651,508

Real Estate 2.3%
Alexandria Real Estate Equities, Inc.	93	13,242
American Tower Corp.	4,424	864,007
CBRE Group, Inc., Class A *	1,551	80,761
Colony Capital, Inc.	229	1,177
CoreSite Realty Corp.	370	40,482
Crown Castle International Corp.	3,149	396,081
Equinix, Inc.	834	379,220
Equity LifeStyle Properties, Inc.	858	100,129
Extra Space Storage, Inc.	1,065	110,430
Gaming & Leisure Properties, Inc.	714	28,831
Hudson Pacific Properties, Inc.	187	6,519
Lamar Advertising Co., Class A	768	63,490
Life Storage, Inc.	27	2,573
Omega Healthcare Investors, Inc.	146	5,167
Public Storage	1,495	330,664
SBA Communications Corp. *	1,130	230,215
Simon Property Group, Inc.	2,852	495,392
Taubman Centers, Inc.	610	30,073
The Howard Hughes Corp. *	152	16,872
		3,195,325

Retailing 10.8%
Advance Auto Parts, Inc.	216	35,925
Amazon.com, Inc. *	4,152	7,998,911
AutoZone, Inc. *	221	227,257
Best Buy Co., Inc.	596	44,348
Booking Holdings, Inc. *	467	866,280

Security	Number of Shares	Value ($)
Burlington Stores, Inc. *	670	113,170
CarMax, Inc. *	1,024	79,729
Dollar General Corp.	2,679	337,795
Dollar Tree, Inc. *	404	44,957
eBay, Inc.	1,867	72,346
Expedia Group, Inc.	1,192	154,769
Floor & Decor Holdings, Inc., Class A *	587	28,188
GrubHub, Inc. *	905	60,445
L Brands, Inc.	438	11,230
LKQ Corp. *	512	15,411
Lowe's Cos., Inc.	8,102	916,660
Nordstrom, Inc.	1,184	48,568
O'Reilly Automotive, Inc. *	782	296,042
Pool Corp.	393	72,210
Ross Stores, Inc.	3,682	359,584
The Gap, Inc.	130	3,390
The Home Depot, Inc.	11,393	2,320,754
The Michaels Cos., Inc. *	147	1,652
The TJX Cos., Inc.	12,484	685,122
Tiffany & Co.	214	23,073
Tractor Supply Co.	1,235	127,823
Ulta Salon, Cosmetics & Fragrance, Inc. *	570	198,919
Urban Outfitters, Inc. *	746	22,179
Wayfair, Inc., Class A *	572	92,750
Williams-Sonoma, Inc.	184	10,519
		15,270,006

Semiconductors & Semiconductor Equipment 4.2%
Advanced Micro Devices, Inc. *	9,440	260,827
Analog Devices, Inc.	584	67,884
Applied Materials, Inc.	9,617	423,821
Broadcom, Inc.	2,452	780,717
Cypress Semiconductor Corp.	2,504	43,019
KLA-Tencor Corp.	1,640	209,067
Lam Research Corp.	1,538	319,027
Marvell Technology Group Ltd.	1,527	38,206
Maxim Integrated Products, Inc.	2,745	164,700
Microchip Technology, Inc.	2,346	234,342
Micron Technology, Inc. *	8,837	371,684
MKS Instruments, Inc.	537	48,873
Monolithic Power Systems, Inc.	408	63,530
NVIDIA Corp.	5,872	1,062,832
NXP Semiconductors N.V.	178	18,800
ON Semiconductor Corp. *	4,170	96,160
Skyworks Solutions, Inc.	1,238	109,167
Teradyne, Inc.	286	14,014
Texas Instruments, Inc.	9,698	1,142,715
Universal Display Corp.	425	67,830
Versum Materials, Inc.	1,090	56,876
Xilinx, Inc.	2,569	308,640
		5,902,731

Software & Services 21.5%
2U, Inc. *	558	33,759
Accenture plc, Class A	6,486	1,184,798
Adobe, Inc. *	4,960	1,434,680
Akamai Technologies, Inc. *	1,491	119,369
Alliance Data Systems Corp.	473	75,727
ANSYS, Inc. *	840	164,472
Aspen Technology, Inc. *	659	80,339
Atlassian Corp. plc, Class A *	1,011	111,362
Autodesk, Inc. *	1,858	331,114
Automatic Data Processing, Inc.	4,394	722,330
Black Knight, Inc. *	1,421	80,173
Booz Allen Hamilton Holding Corp.	1,297	76,899
Broadridge Financial Solutions, Inc.	1,172	138,448

₆₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Growth Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Cadence Design Systems, Inc. *	2,815	195,305
CDK Global, Inc.	1,246	75,159
Ceridian HCM Holding, Inc. *	500	26,575
Citrix Systems, Inc.	1,369	138,214
Cognizant Technology Solutions Corp., Class A	5,228	381,435
CoreLogic, Inc. *	512	20,792
DocuSign, Inc. *	791	44,826
Elastic N.V. *	67	5,732
EPAM Systems, Inc. *	513	92,012
Euronet Worldwide, Inc. *	252	37,772
Fair Isaac Corp. *	286	80,008
Fidelity National Information Services, Inc.	273	31,649
FireEye, Inc. *	1,308	20,954
First Data Corp., Class A *	5,500	142,230
Fiserv, Inc. *	4,018	350,530
FleetCor Technologies, Inc. *	859	224,156
Fortinet, Inc. *	1,412	131,909
Gartner, Inc. *	896	142,437
Genpact Ltd.	532	19,312
Global Payments, Inc.	1,602	234,004
GoDaddy, Inc., Class A *	1,706	139,039
Guidewire Software, Inc. *	821	87,436
International Business Machines Corp.	6,662	934,479
Intuit, Inc.	2,492	625,641
Jack Henry & Associates, Inc.	773	115,223
LogMeIn, Inc.	329	27,110
Manhattan Associates, Inc. *	654	44,112
Mastercard, Inc., Class A	9,167	2,330,618
Microsoft Corp.	72,406	9,456,224
Nutanix, Inc., Class A *	1,405	60,682
Okta, Inc. *	881	91,650
Oracle Corp.	2,349	129,970
Palo Alto Networks, Inc. *	917	228,177
Paychex, Inc.	3,235	272,743
Paycom Software, Inc. *	486	98,430
PayPal Holdings, Inc. *	11,841	1,335,310
Pegasystems, Inc.	372	27,904
Pluralsight, Inc., Class A *	446	15,829
Proofpoint, Inc. *	504	63,212
PTC, Inc. *	1,168	105,669
RealPage, Inc. *	724	47,212
Red Hat, Inc. *	1,785	325,816
RingCentral, Inc., Class A *	681	79,248
Sabre Corp.	2,243	46,565
salesforce.com, Inc. *	7,335	1,212,842
ServiceNow, Inc. *	1,793	486,817
SolarWinds Corp. *	239	4,672
Splunk, Inc. *	1,477	203,885
Square, Inc., Class A *	2,949	214,746
SS&C Technologies Holdings, Inc.	2,007	135,794
Switch, Inc., Class A	466	5,065
Synopsys, Inc. *	146	17,678
Tableau Software, Inc., Class A *	713	86,850
Teradata Corp. *	856	38,922
The Ultimate Software Group, Inc. *	307	101,510
The Western Union Co.	1,247	24,242
Total System Services, Inc.	1,816	185,668
Twilio, Inc., Class A *	884	121,232
Tyler Technologies, Inc. *	382	88,590
VeriSign, Inc. *	1,035	204,361
Visa, Inc., Class A	17,770	2,921,921
VMware, Inc., Class A	725	147,994
WEX, Inc. *	412	86,644
Workday, Inc., Class A *	1,464	301,042

Security	Number of Shares	Value ($)
Worldpay, Inc., Class A *	262	30,709
Zendesk, Inc. *	1,063	93,310
		30,351,274

Technology Hardware & Equipment 7.8%
Amphenol Corp., Class A	2,976	296,291
Apple, Inc.	47,911	9,614,300
Arista Networks, Inc. *	582	181,753
CDW Corp.	1,479	156,182
Cognex Corp.	1,671	84,269
Coherent, Inc. *	173	25,606
Dell Technologies, Inc., Class C *	101	6,808
F5 Networks, Inc. *	596	93,512
FLIR Systems, Inc.	110	5,823
IPG Photonics Corp. *	361	63,078
Littelfuse, Inc.	203	40,813
Motorola Solutions, Inc.	182	26,374
National Instruments Corp.	908	42,767
NCR Corp. *	959	27,763
NetApp, Inc.	2,550	185,767
Pure Storage, Inc., Class A *	1,674	38,268
Ubiquiti Networks, Inc.	151	25,738
Zebra Technologies Corp., Class A *	529	111,693
		11,026,805

Telecommunication Services 0.2%
T-Mobile US, Inc. *	2,030	148,170
Zayo Group Holdings, Inc. *	2,264	70,840
		219,010

Transportation 2.5%
C.H. Robinson Worldwide, Inc.	1,370	110,970
CSX Corp.	3,673	292,481
Delta Air Lines, Inc.	1,615	94,139
Expeditors International of Washington, Inc.	1,741	138,270
FedEx Corp.	2,461	466,261
Genesee & Wyoming, Inc., Class A *	125	11,081
JB Hunt Transport Services, Inc.	883	83,426
Landstar System, Inc.	403	43,911
Old Dominion Freight Line, Inc.	659	98,376
Schneider National, Inc., Class B	60	1,254
Southwest Airlines Co.	3,644	197,614
Union Pacific Corp.	6,705	1,187,053
United Parcel Service, Inc., Class B	6,965	739,822
XPO Logistics, Inc. *	1,253	85,304
		3,549,962
Total Common Stock
(Cost $121,670,391)		140,570,557

Other Investment Companies 0.2% of net assets

Equity Fund 0.0%
iShares Russell 1000 Growth ETF	330	52,167

Money Market Fund 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class 2.37% (b)	195,441	195,441
Total Other Investment Companies
(Cost $245,943)		247,608

₆₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.8% of net assets

Automobiles & Components 1.0%
Adient plc	1,255	28,990
Aptiv plc	459	39,336
BorgWarner, Inc.	2,821	117,833
Ford Motor Co.	52,388	547,455
Garrett Motion, Inc. *	381	7,163
General Motors Co.	17,580	684,741
Gentex Corp.	1,071	24,665
Harley-Davidson, Inc.	2,170	80,789
Lear Corp.	757	108,251
The Goodyear Tire & Rubber Co.	3,090	59,359
Thor Industries, Inc.	117	7,707
Visteon Corp. *	139	9,177
		1,715,466

Banks 11.2%
Associated Banc-Corp.	2,137	48,488
Bank of America Corp.	120,951	3,698,682
Bank of Hawaii Corp.	541	44,568
Bank OZK	1,594	52,044
BankUnited, Inc.	1,269	46,420
BB&T Corp.	10,333	529,050
BOK Financial Corp.	349	30,412
CIT Group, Inc.	1,343	71,542
Citigroup, Inc.	31,805	2,248,613
Citizens Financial Group, Inc.	6,288	227,626
Comerica, Inc.	2,053	161,345
Commerce Bancshares, Inc.	1,346	81,339
Cullen/Frost Bankers, Inc.	754	76,674
East West Bancorp, Inc.	1,820	93,694
F.N.B. Corp.	4,363	52,923
Fifth Third Bancorp	10,289	296,529
First Citizens BancShares, Inc., Class A	103	46,170
First Hawaiian, Inc.	1,780	49,217
First Horizon National Corp.	4,201	63,393
First Republic Bank	2,195	231,836
Huntington Bancshares, Inc.	13,999	194,866
JPMorgan Chase & Co.	44,408	5,153,548
KeyCorp	13,627	239,154
M&T Bank Corp.	1,857	315,820
New York Community Bancorp, Inc.	6,108	71,036
PacWest Bancorp	1,659	65,613
People's United Financial, Inc.	5,123	88,577
Pinnacle Financial Partners, Inc.	577	33,506
Popular, Inc.	1,335	77,043
Prosperity Bancshares, Inc.	887	65,319
Regions Financial Corp.	13,937	216,442
Signature Bank	257	33,942
Sterling Bancorp	2,803	60,040
SunTrust Banks, Inc.	6,026	394,582
SVB Financial Group *	160	40,275
Synovus Financial Corp.	1,476	54,405
TCF Financial Corp.	2,145	47,469
Texas Capital Bancshares, Inc. *	230	14,888
TFS Financial Corp.	624	10,383
The PNC Financial Services Group, Inc.	6,131	839,518

Security	Number of Shares	Value ($)
U.S. Bancorp	20,303	1,082,556
Umpqua Holdings Corp.	3,022	52,462
Webster Financial Corp.	1,208	64,181
Wells Fargo & Co.	55,417	2,682,737
Western Alliance Bancorp *	521	24,893
Wintrust Financial Corp.	768	58,522
Zions Bancorp NA	2,496	123,128
		20,255,470

Capital Goods 5.7%
3M Co.	1,239	234,803
Acuity Brands, Inc.	526	76,970
AECOM *	2,070	70,173
AGCO Corp.	893	63,207
Air Lease Corp.	1,229	47,390
Allegion plc	236	23,418
AMETEK, Inc.	2,488	219,367
Arconic, Inc.	5,802	124,627
Arcosa, Inc.	660	20,546
Carlisle Cos., Inc.	779	110,166
Caterpillar, Inc.	625	87,137
Colfax Corp. *	1,135	34,243
Crane Co.	655	55,708
Cummins, Inc.	1,282	213,184
Curtiss-Wright Corp.	539	61,414
Donaldson Co., Inc.	118	6,318
Dover Corp.	1,947	190,884
Eaton Corp. plc	5,863	485,574
Emerson Electric Co.	2,392	169,808
Flowserve Corp.	1,758	86,195
Fluor Corp.	1,889	75,050
Fortive Corp.	323	27,888
Fortune Brands Home & Security, Inc.	1,095	57,794
Gardner Denver Holdings, Inc. *	1,130	38,137
Gates Industrial Corp. plc *	564	9,069
General Dynamics Corp.	1,859	332,240
General Electric Co.	115,686	1,176,527
GrafTech International Ltd.	776	8,885
HD Supply Holdings, Inc. *	1,661	75,891
Hexcel Corp.	890	62,932
Honeywell International, Inc.	3,697	641,910
Hubbell, Inc.	225	28,710
Huntington Ingalls Industries, Inc.	77	17,139
IDEX Corp.	61	9,556
Ingersoll-Rand plc	1,508	184,896
ITT, Inc.	1,158	70,117
Jacobs Engineering Group, Inc.	1,693	131,952
Johnson Controls International plc	12,228	458,550
L3 Technologies, Inc.	1,051	229,728
Lennox International, Inc.	28	7,601
Lockheed Martin Corp.	287	95,666
Masco Corp.	1,218	47,575
MSC Industrial Direct Co., Inc., Class A	343	28,692
Nordson Corp.	52	7,589
nVent Electric plc	2,195	61,350
Oshkosh Corp.	926	76,478
Owens Corning	1,450	74,341
PACCAR, Inc.	4,538	325,238
Parker-Hannifin Corp.	1,420	257,134

₆₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Pentair plc	2,124	82,815
Quanta Services, Inc.	1,381	56,069
Regal Beloit Corp.	564	47,985
Resideo Technologies, Inc. *	667	15,141
Roper Technologies, Inc.	1,106	397,828
Sensata Technologies Holding plc *	984	49,141
Snap-on, Inc.	741	124,695
Stanley Black & Decker, Inc.	2,029	297,451
Teledyne Technologies, Inc. *	478	118,788
Terex Corp.	865	28,830
Textron, Inc.	2,733	144,849
The Middleby Corp. *	298	39,375
The Timken Co.	899	43,107
Trinity Industries, Inc.	1,908	41,136
United Technologies Corp.	10,874	1,550,741
Univar, Inc. *	1,457	32,535
Valmont Industries, Inc.	284	38,295
Wabtec Corp.	1,357	100,513
Watsco, Inc.	82	12,995
WESCO International, Inc. *	620	35,489
Xylem, Inc.	1,063	88,654
		10,346,199

Commercial & Professional Services 0.6%
ADT, Inc.	1,509	9,944
Clean Harbors, Inc. *	691	52,516
Equifax, Inc.	1,167	146,984
IHS Markit Ltd. *	5,191	297,237
KAR Auction Services, Inc.	115	6,495
ManpowerGroup, Inc.	817	78,465
Nielsen Holdings plc	4,772	121,829
Republic Services, Inc.	2,732	226,264
Stericycle, Inc. *	1,129	65,922
Waste Management, Inc.	876	94,030
		1,099,686

Consumer Durables & Apparel 0.8%
Brunswick Corp.	1,061	54,334
Capri Holdings Ltd. *	882	38,879
Columbia Sportswear Co.	350	34,989
D.R. Horton, Inc.	1,872	82,948
Garmin Ltd.	1,526	130,839
Hasbro, Inc.	335	34,123
Leggett & Platt, Inc.	1,763	69,392
Lennar Corp., B Shares	96	4,005
Lennar Corp., Class A	1,742	90,636
Mattel, Inc. *	3,656	44,567
Mohawk Industries, Inc. *	838	114,177
Newell Brands, Inc.	5,864	84,324
PulteGroup, Inc.	2,293	72,138
PVH Corp.	1,012	130,538
Ralph Lauren Corp.	701	92,238
Skechers U.S.A., Inc., Class A *	922	29,191
Tapestry, Inc.	3,102	100,102
Toll Brothers, Inc.	888	33,833
Under Armour, Inc., Class A *	632	14,593
Under Armour, Inc., Class C *	584	12,100
VF Corp.	995	93,938
Whirlpool Corp.	838	116,331
		1,478,215

Consumer Services 2.1%
Aramark	3,255	101,165
Bright Horizons Family Solutions, Inc. *	111	14,225
Caesars Entertainment Corp. *	7,553	70,696

Security	Number of Shares	Value ($)
Carnival Corp.	5,366	294,379
Darden Restaurants, Inc.	830	97,608
Extended Stay America, Inc.	950	17,014
Graham Holdings Co., Class B	57	42,376
H&R Block, Inc.	2,257	61,413
Hyatt Hotels Corp., Class A	528	40,513
International Game Technology plc	1,268	18,551
Las Vegas Sands Corp.	1,864	124,981
McDonald's Corp.	8,401	1,659,786
MGM Resorts International	6,112	162,763
Norwegian Cruise Line Holdings Ltd. *	2,938	165,674
Royal Caribbean Cruises Ltd.	2,234	270,180
Service Corp. International	1,233	51,305
Yum China Holdings, Inc.	4,458	211,933
Yum! Brands, Inc.	2,913	304,088
		3,708,650

Diversified Financials 7.3%
Affiliated Managers Group, Inc.	706	78,310
AGNC Investment Corp.	7,187	127,857
Ally Financial, Inc.	5,485	162,959
American Express Co.	2,975	348,759
Ameriprise Financial, Inc.	1,534	225,145
Annaly Capital Management, Inc.	18,669	188,370
AXA Equitable Holdings, Inc.	3,188	72,336
Berkshire Hathaway, Inc., Class B *	22,719	4,923,435
BGC Partners, Inc., Class A	3,570	19,278
BlackRock, Inc.	1,627	789,485
Capital One Financial Corp.	5,774	536,000
Cboe Global Markets, Inc.	106	10,771
Chimera Investment Corp.	2,424	46,468
CME Group, Inc.	4,190	749,591
Credit Acceptance Corp. *	10	4,962
Discover Financial Services	2,410	196,391
E*TRADE Financial Corp.	2,547	129,031
Franklin Resources, Inc.	4,048	140,020
Interactive Brokers Group, Inc., Class A	87	4,719
Intercontinental Exchange, Inc.	3,638	295,951
Invesco Ltd.	5,452	119,780
Jefferies Financial Group, Inc.	3,648	75,039
Lazard Ltd., Class A	132	5,132
Legg Mason, Inc.	1,117	37,364
MFA Financial, Inc.	5,831	43,791
Morgan Stanley	16,271	785,076
Nasdaq, Inc.	1,559	143,740
Navient Corp.	3,221	43,516
New Residential Investment Corp.	5,343	89,816
Northern Trust Corp.	1,942	191,384
OneMain Holdings, Inc.	943	32,034
Raymond James Financial, Inc.	1,213	111,074
Santander Consumer USA Holdings, Inc.	1,348	28,780
SLM Corp.	5,933	60,279
Starwood Property Trust, Inc.	3,623	83,510
State Street Corp.	4,720	319,355
Synchrony Financial	6,303	218,525
T. Rowe Price Group, Inc.	206	22,145
The Bank of New York Mellon Corp.	11,920	591,947
The Goldman Sachs Group, Inc.	4,677	963,088
Two Harbors Investment Corp.	3,235	44,837
Voya Financial, Inc.	1,886	103,523
		13,163,573

Energy 9.3%
Anadarko Petroleum Corp.	4,491	327,169
Antero Resources Corp. *	1,418	10,281
Apache Corp.	4,808	158,231

₆₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Apergy Corp. *	1,024	40,643
Baker Hughes, a GE Co.	6,880	165,258
Cabot Oil & Gas Corp.	1,509	39,068
Centennial Resource Development, Inc., Class A *	2,418	25,462
Cheniere Energy, Inc. *	934	60,103
Chesapeake Energy Corp. *	12,292	35,770
Chevron Corp.	25,562	3,068,974
Cimarex Energy Co.	1,174	80,607
CNX Resources Corp. *	2,642	23,672
Concho Resources, Inc.	2,270	261,913
ConocoPhillips	15,285	964,789
Continental Resources, Inc. *	605	27,824
Devon Energy Corp.	6,270	201,518
Diamondback Energy, Inc.	1,758	187,034
EOG Resources, Inc.	6,880	660,824
EQT Corp.	3,405	69,632
Equitrans Midstream Corp. *	2,826	58,866
Extraction Oil & Gas, Inc. *	1,573	7,393
Exxon Mobil Corp.	56,855	4,564,319
Helmerich & Payne, Inc.	1,430	83,684
Hess Corp.	3,508	224,933
HollyFrontier Corp.	2,133	101,808
Kinder Morgan, Inc.	26,123	519,064
Kosmos Energy Ltd.	2,715	18,163
Marathon Oil Corp.	11,111	189,331
Marathon Petroleum Corp.	8,993	547,404
Murphy Oil Corp.	2,176	59,274
Nabors Industries Ltd.	4,772	16,702
National Oilwell Varco, Inc.	5,122	133,889
Noble Energy, Inc.	6,443	174,348
Occidental Petroleum Corp.	10,138	596,925
ONEOK, Inc.	3,223	218,938
Parsley Energy, Inc., Class A *	1,063	21,217
Patterson-UTI Energy, Inc.	2,834	38,514
PBF Energy, Inc., Class A	1,617	54,299
Phillips 66	5,521	520,465
Pioneer Natural Resources Co.	1,019	169,623
QEP Resources, Inc. *	3,180	23,914
Range Resources Corp.	2,785	25,176
RPC, Inc.	424	4,363
Schlumberger Ltd.	18,601	793,891
SM Energy Co.	1,479	23,560
Targa Resources Corp.	3,050	122,457
The Williams Cos., Inc.	15,990	452,997
Transocean Ltd. *	7,008	55,083
Valero Energy Corp.	5,685	515,402
Weatherford International plc *	13,881	7,680
Whiting Petroleum Corp. *	1,228	33,635
WPX Energy, Inc. *	5,288	73,450
		16,859,539

Food & Staples Retailing 1.6%
Casey's General Stores, Inc.	481	63,660
The Kroger Co.	10,643	274,377
U.S. Foods Holding Corp. *	2,749	100,476
Walgreens Boots Alliance, Inc.	10,867	582,145
Walmart, Inc.	18,838	1,937,300
		2,957,958

Food, Beverage & Tobacco 3.6%
Archer-Daniels-Midland Co.	7,492	334,143
Bunge Ltd.	1,895	99,317
Campbell Soup Co.	738	28,553
ConAgra Brands, Inc.	6,469	199,116
Flowers Foods, Inc.	2,368	51,480

Security	Number of Shares	Value ($)
General Mills, Inc.	7,549	388,547
Hormel Foods Corp.	3,651	145,821
Ingredion, Inc.	880	83,380
Kellogg Co.	1,682	101,425
Lamb Weston Holdings, Inc.	1,967	137,788
McCormick & Co., Inc. - Non Voting Shares	1,553	239,115
Molson Coors Brewing Co., Class B	2,336	149,948
Mondelez International, Inc., Class A	19,150	973,778
PepsiCo, Inc.	2,147	274,923
Philip Morris International, Inc.	20,846	1,804,430
Pilgrim's Pride Corp. *	751	20,209
Post Holdings, Inc. *	359	40,488
Seaboard Corp.	3	13,487
The Coca-Cola Co.	11,494	563,896
The Hain Celestial Group, Inc. *	1,236	26,970
The Hershey Co.	158	19,726
The JM Smucker Co.	1,472	180,511
The Kraft Heinz Co.	8,093	269,011
TreeHouse Foods, Inc. *	728	48,762
Tyson Foods, Inc., Class A	3,901	292,614
		6,487,438

Health Care Equipment & Services 6.2%
Abbott Laboratories	22,957	1,826,459
Acadia Healthcare Co., Inc. *	1,141	36,535
Anthem, Inc.	3,492	918,501
Baxter International, Inc.	5,958	454,595
Becton, Dickinson & Co.	3,231	777,831
Boston Scientific Corp. *	4,269	158,465
Cardinal Health, Inc.	4,007	195,181
Centene Corp. *	618	31,864
Cerner Corp. *	2,314	153,765
Cigna Corp. *	3,591	570,395
Covetrus, Inc. *	670	22,023
CVS Health Corp.	15,926	866,056
Danaher Corp.	8,422	1,115,410
DaVita, Inc. *	810	44,744
DENTSPLY SIRONA, Inc.	2,934	150,015
HCA Healthcare, Inc.	1,055	134,228
Henry Schein, Inc. *	1,739	111,400
Hill-Rom Holdings, Inc.	308	31,237
Hologic, Inc. *	3,578	165,948
Humana, Inc.	93	23,753
Integra LifeSciences Holdings Corp. *	201	10,490
Laboratory Corp. of America Holdings *	1,271	203,258
McKesson Corp.	2,253	268,670
MEDNAX, Inc. *	1,142	31,942
Medtronic plc	18,157	1,612,523
Molina Healthcare, Inc. *	131	16,982
Premier, Inc., Class A *	467	15,518
Quest Diagnostics, Inc.	1,828	176,183
Steris plc *	1,129	147,876
Teleflex, Inc.	495	141,659
The Cooper Cos., Inc.	548	158,876
Universal Health Services, Inc., Class B	1,127	142,983
WellCare Health Plans, Inc. *	43	11,109
West Pharmaceutical Services, Inc.	755	93,462
Zimmer Biomet Holdings, Inc.	2,731	336,350
		11,156,286

Household & Personal Products 2.5%
Church & Dwight Co., Inc.	493	36,950
Colgate-Palmolive Co.	9,316	678,112
Coty, Inc., Class A	4,216	45,617
Energizer Holdings, Inc.	354	16,953
Herbalife Nutrition Ltd. *	1,173	61,993

₆₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Kimberly-Clark Corp.	611	78,440
Nu Skin Enterprises, Inc., Class A	504	25,639
Spectrum Brands Holdings, Inc.	279	17,178
The Clorox Co.	219	34,981
The Procter & Gamble Co.	33,430	3,559,626
		4,555,489

Insurance 4.3%
Aflac, Inc.	9,996	503,598
Alleghany Corp. *	172	112,983
American Financial Group, Inc.	967	100,114
American International Group, Inc.	10,216	485,975
American National Insurance Co.	93	10,536
Arch Capital Group Ltd. *	4,400	148,632
Arthur J. Gallagher & Co.	2,425	202,778
Assurant, Inc.	802	76,190
Assured Guaranty Ltd.	1,382	65,921
Athene Holding Ltd., Class A *	2,145	96,868
Axis Capital Holdings Ltd.	978	55,599
Brighthouse Financial, Inc. *	1,600	66,864
Brown & Brown, Inc.	2,945	93,504
Chubb Ltd.	6,150	892,980
Cincinnati Financial Corp.	2,066	198,708
CNA Financial Corp.	355	16,447
Erie Indemnity Co., Class A	75	14,199
Everest Re Group Ltd.	323	76,066
Fidelity National Financial, Inc.	3,563	142,342
First American Financial Corp.	1,458	83,193
Lincoln National Corp.	2,854	190,419
Loews Corp.	3,743	191,978
Markel Corp. *	166	177,871
Marsh & McLennan Cos., Inc.	3,625	341,801
Mercury General Corp.	352	18,931
MetLife, Inc.	10,921	503,786
Old Republic International Corp.	3,774	84,387
Principal Financial Group, Inc.	3,711	212,121
Prudential Financial, Inc.	5,539	585,528
Reinsurance Group of America, Inc.	848	128,480
RenaissanceRe Holdings Ltd.	480	74,573
The Allstate Corp.	4,446	440,421
The Hanover Insurance Group, Inc.	560	67,542
The Hartford Financial Services Group, Inc.	4,799	251,036
The Travelers Cos., Inc.	2,855	410,406
Torchmark Corp.	1,392	122,023
Unum Group	2,709	100,016
W. R. Berkley Corp.	1,916	117,451
White Mountains Insurance Group Ltd.	41	38,501
Willis Towers Watson plc	1,739	320,567
		7,821,335

Materials 4.0%
Air Products & Chemicals, Inc.	2,944	605,846
Albemarle Corp.	1,428	107,186
Alcoa Corp. *	2,511	66,993
AptarGroup, Inc.	844	93,887
Ardagh Group S.A.	313	4,344
Ashland Global Holdings, Inc.	826	66,518
Axalta Coating Systems Ltd. *	1,659	44,760
Ball Corp.	4,482	268,651
Bemis Co., Inc.	1,218	69,938
Berry Global Group, Inc. *	856	50,333
Cabot Corp.	779	35,351
Celanese Corp.	624	67,323
CF Industries Holdings, Inc.	3,091	138,415
Domtar Corp.	835	40,831
Dow, Inc. *	10,160	576,377

Security	Number of Shares	Value ($)
DowDuPont, Inc.	30,473	1,171,687
Eagle Materials, Inc.	80	7,273
Eastman Chemical Co.	1,882	148,452
Ecolab, Inc.	1,878	345,702
Element Solutions, Inc. *	1,460	15,856
FMC Corp.	1,052	83,171
Freeport-McMoRan, Inc.	19,412	238,962
Graphic Packaging Holding Co.	3,226	44,777
Huntsman Corp.	2,930	65,163
International Flavors & Fragrances, Inc.	710	97,831
International Paper Co.	4,869	227,918
Linde plc	3,027	545,647
LyondellBasell Industries N.V., Class A	2,160	190,577
Martin Marietta Materials, Inc.	66	14,645
NewMarket Corp.	4	1,678
Newmont Mining Corp.	10,973	340,821
Nucor Corp.	4,101	234,044
Olin Corp.	2,234	48,455
Owens-Illinois, Inc.	2,087	41,239
PPG Industries, Inc.	3,038	356,965
Reliance Steel & Aluminum Co.	914	84,051
Royal Gold, Inc.	505	43,965
RPM International, Inc.	1,376	83,454
Sealed Air Corp.	934	43,543
Silgan Holdings, Inc.	645	19,311
Sonoco Products Co.	1,327	83,681
Steel Dynamics, Inc.	2,532	80,214
The Mosaic Co.	4,697	122,639
The Scotts Miracle-Gro Co.	278	23,636
United States Steel Corp.	2,321	36,208
Valvoline, Inc.	2,473	45,750
Vulcan Materials Co.	100	12,611
W.R. Grace & Co.	214	16,174
Westlake Chemical Corp.	29	2,023
WestRock Co.	3,378	129,648
		7,284,524

Media & Entertainment 3.3%
Charter Communications, Inc., Class A *	669	248,326
Cinemark Holdings, Inc.	1,461	61,435
Comcast Corp., Class A	60,306	2,625,120
Discovery, Inc., Class A *	2,112	65,261
Discovery, Inc., Class C *	4,579	131,692
DISH Network Corp., Class A *	2,975	104,482
Fox Corp., Class A *	4,672	182,161
Fox Corp., Class B *	2,177	83,814
GCI Liberty, Inc., Class A *	1,332	79,414
John Wiley & Sons, Inc., Class A	587	27,108
Liberty Broadband Corp., Class A *	356	35,027
Liberty Broadband Corp., Class C *	1,384	136,615
Liberty Media Corp. - Liberty Formula One, Class A *	362	13,669
Liberty Media Corp. - Liberty Formula One, Class C *	2,636	102,303
Liberty Media Corp. - Liberty SiriusXM, Class A *	1,102	44,014
Liberty Media Corp. - Liberty SiriusXM, Class C *	2,232	89,637
Lions Gate Entertainment Corp., Class A	622	9,075
Lions Gate Entertainment Corp., Class B	1,173	15,953
News Corp., Class A	5,125	63,652
News Corp., Class B	1,655	20,671
Omnicom Group, Inc.	1,012	80,990
Take-Two Interactive Software, Inc. *	617	59,744
The Interpublic Group of Cos., Inc.	4,635	106,605
The Madison Square Garden Co., Class A *	220	68,737
The Walt Disney Co.	9,113	1,248,208

₆₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Tribune Media Co., Class A	1,155	53,361
Viacom, Inc., Class A	158	5,475
Viacom, Inc., Class B	4,745	137,178
Zillow Group, Inc., Class A *	242	8,037
Zillow Group, Inc., Class C *	411	13,727
Zynga, Inc., Class A *	10,068	56,985
		5,978,476

Pharmaceuticals, Biotechnology & Life Sciences 8.3%
Agilent Technologies, Inc.	4,273	335,430
Agios Pharmaceuticals, Inc. *	41	2,293
Alexion Pharmaceuticals, Inc. *	484	65,887
Allergan plc	4,547	668,409
Alnylam Pharmaceuticals, Inc. *	149	13,312
Amgen, Inc.	494	88,584
Bio-Rad Laboratories, Inc., Class A *	284	85,464
Biogen, Inc. *	138	31,635
Bluebird Bio, Inc. *	227	32,195
Bristol-Myers Squibb Co.	10,272	476,929
Bruker Corp.	797	30,764
Catalent, Inc. *	1,496	67,051
Charles River Laboratories International, Inc. *	180	25,285
Elanco Animal Health, Inc. *	2,381	75,001
Eli Lilly & Co.	4,547	532,181
Gilead Sciences, Inc.	4,369	284,160
IQVIA Holdings, Inc. *	2,325	322,942
Jazz Pharmaceuticals plc *	62	8,046
Johnson & Johnson	29,545	4,171,754
Merck & Co., Inc.	32,587	2,564,923
Moderna, Inc. *	57	1,484
Mylan N.V. *	6,888	185,907
PerkinElmer, Inc.	1,487	142,514
Perrigo Co., plc	1,713	82,087
Pfizer, Inc.	76,944	3,124,696
QIAGEN N.V. *	2,974	115,867
Thermo Fisher Scientific, Inc.	5,062	1,404,452
United Therapeutics Corp. *	571	58,567
Waters Corp. *	68	14,521
		15,012,340

Real Estate 5.0%
Alexandria Real Estate Equities, Inc.	1,377	196,071
American Campus Communities, Inc.	1,834	86,565
American Homes 4 Rent, Class A	3,479	83,426
Apartment Investment & Management Co., Class A	2,026	100,003
Apple Hospitality REIT, Inc.	2,820	46,389
AvalonBay Communities, Inc.	1,849	371,520
Boston Properties, Inc.	2,070	284,873
Brandywine Realty Trust	2,318	35,674
Brixmor Property Group, Inc.	4,059	72,575
Brookfield Property REIT, Inc., Class A	1,661	34,599
Camden Property Trust	1,191	119,874
CBRE Group, Inc., Class A *	2,239	116,585
Colony Capital, Inc.	5,995	30,814
Columbia Property Trust, Inc.	1,565	35,541
Corporate Office Properties Trust	1,363	38,000
Crown Castle International Corp.	1,362	171,312
CubeSmart	2,495	79,615
CyrusOne, Inc.	1,394	77,632
Digital Realty Trust, Inc.	2,756	324,409
Douglas Emmett, Inc.	2,166	89,218
Duke Realty Corp.	4,809	149,656
Empire State Realty Trust, Inc., Class A	1,889	29,204
EPR Properties	996	78,545
Equity Commonwealth	1,535	48,813

Security	Number of Shares	Value ($)
Equity Residential	4,807	367,351
Essex Property Trust, Inc.	882	249,165
Extra Space Storage, Inc.	204	21,153
Federal Realty Investment Trust	977	130,771
Gaming & Leisure Properties, Inc.	1,730	69,857
HCP, Inc.	6,407	190,800
Healthcare Trust of America, Inc., Class A	2,782	76,728
Highwoods Properties, Inc.	1,332	59,381
Hospitality Properties Trust	2,171	56,446
Host Hotels & Resorts, Inc.	9,847	189,456
Hudson Pacific Properties, Inc.	1,785	62,225
Invitation Homes, Inc.	4,568	113,560
Iron Mountain, Inc.	3,832	124,463
JBG SMITH Properties	1,514	64,421
Jones Lang LaSalle, Inc.	612	94,597
Kilroy Realty Corp.	1,328	102,136
Kimco Realty Corp.	5,475	95,210
Lamar Advertising Co., Class A	99	8,184
Liberty Property Trust	1,983	98,436
Life Storage, Inc.	578	55,078
Medical Properties Trust, Inc.	4,895	85,467
Mid-America Apartment Communities, Inc.	1,527	167,069
National Retail Properties, Inc.	2,129	112,028
Omega Healthcare Investors, Inc.	2,464	87,201
Outfront Media, Inc.	1,818	43,323
Paramount Group, Inc.	2,686	38,920
Park Hotels & Resorts, Inc.	2,732	87,643
Prologis, Inc.	8,392	643,415
Rayonier, Inc.	1,764	56,078
Realogy Holdings Corp.	1,536	19,999
Realty Income Corp.	3,956	276,960
Regency Centers Corp.	2,049	137,631
Retail Properties of America, Inc., Class A	2,837	34,867
Retail Value, Inc.	219	7,336
Senior Housing Properties Trust	3,076	24,700
Simon Property Group, Inc.	336	58,363
SITE Centers Corp.	2,011	26,626
SL Green Realty Corp.	1,096	96,821
Spirit Realty Capital, Inc.	1,143	46,246
STORE Capital Corp.	2,585	86,132
Sun Communities, Inc.	1,124	138,342
The Howard Hughes Corp. *	305	33,855
The Macerich Co.	1,814	72,814
UDR, Inc.	3,678	165,326
Uniti Group, Inc.	2,319	25,486
Ventas, Inc.	4,774	291,739
VEREIT, Inc.	13,073	107,983
VICI Properties, Inc.	5,436	123,941
Vornado Realty Trust	2,322	160,543
Weingarten Realty Investors	1,569	45,407
Welltower, Inc.	4,990	371,905
Weyerhaeuser Co.	10,049	269,313
WP Carey, Inc.	2,140	169,745
		9,043,555

Retailing 1.5%
Advance Auto Parts, Inc.	652	108,441
AutoNation, Inc. *	718	30,106
AutoZone, Inc. *	42	43,189
Best Buy Co., Inc.	2,310	171,887
CarMax, Inc. *	890	69,295
Dick's Sporting Goods, Inc.	974	36,038
Dollar Tree, Inc. *	2,614	290,886
eBay, Inc.	9,046	350,532
Foot Locker, Inc.	1,506	86,158
Genuine Parts Co.	1,921	196,979
Kohl's Corp.	2,202	156,562

₆₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
L Brands, Inc.	2,469	63,305
LKQ Corp. *	3,577	107,668
Macy's, Inc.	4,085	96,161
Penske Automotive Group, Inc.	472	21,674
Qurate Retail, Inc. *	5,579	95,122
Target Corp.	7,071	547,437
The Gap, Inc.	2,675	69,764
The Michaels Cos., Inc. *	1,062	11,937
Tiffany & Co.	1,345	145,018
Williams-Sonoma, Inc.	823	47,051
		2,745,210

Semiconductors & Semiconductor Equipment 3.7%
Analog Devices, Inc.	4,168	484,488
Broadcom, Inc.	2,183	695,067
Cypress Semiconductor Corp.	1,503	25,822
First Solar, Inc. *	1,112	68,421
Intel Corp.	60,416	3,083,633
Marvell Technology Group Ltd.	5,417	135,533
Micron Technology, Inc. *	3,267	137,410
NXP Semiconductors N.V.	4,305	454,694
Qorvo, Inc. *	1,644	124,303
QUALCOMM, Inc.	16,266	1,400,991
Skyworks Solutions, Inc.	679	59,874
Teradyne, Inc.	2,017	98,833
		6,769,069

Software & Services 2.9%
Akamai Technologies, Inc. *	134	10,728
Amdocs Ltd.	1,872	103,110
Aspen Technology, Inc. *	46	5,608
Autodesk, Inc. *	465	82,868
Booz Allen Hamilton Holding Corp.	96	5,692
Cognizant Technology Solutions Corp., Class A	744	54,282
Conduent, Inc. *	2,552	32,742
CoreLogic, Inc. *	378	15,351
DXC Technology Co.	3,602	236,796
Elastic N.V. *	13	1,112
Euronet Worldwide, Inc. *	323	48,415
Fidelity National Information Services, Inc.	4,009	464,763
FireEye, Inc. *	822	13,168
Genpact Ltd.	1,332	48,352
International Business Machines Corp.	3,466	486,176
Leidos Holdings, Inc.	1,904	139,906
LogMeIn, Inc.	236	19,446
Microsoft Corp.	5,393	704,326
Nuance Communications, Inc. *	3,798	63,920
Oracle Corp.	29,252	1,618,513
Pluralsight, Inc., Class A *	149	5,288
Sabre Corp.	670	13,909
SolarWinds Corp. *	34	665
SS&C Technologies Holdings, Inc.	181	12,246
Symantec Corp.	8,542	206,802
Synopsys, Inc. *	1,801	218,065
Teradata Corp. *	456	20,734
The Western Union Co.	4,350	84,564
Worldpay, Inc., Class A *	3,658	428,754
		5,146,301

Technology Hardware & Equipment 3.4%
Arrow Electronics, Inc. *	1,139	96,257
Avnet, Inc.	1,437	69,853
Cisco Systems, Inc.	60,854	3,404,781
Coherent, Inc. *	95	14,061

Security	Number of Shares	Value ($)
CommScope Holding Co., Inc. *	2,495	61,826
Corning, Inc.	10,571	336,686
Dell Technologies, Inc., Class C *	1,868	125,922
Dolby Laboratories, Inc., Class A	833	53,887
EchoStar Corp., Class A *	640	25,504
FLIR Systems, Inc.	1,644	87,033
Hewlett Packard Enterprise Co.	18,758	296,564
HP, Inc.	20,850	415,957
Jabil, Inc.	1,989	60,088
Juniper Networks, Inc.	4,610	128,020
Keysight Technologies, Inc. *	2,513	218,706
Littelfuse, Inc.	51	10,254
Motorola Solutions, Inc.	1,930	279,676
National Instruments Corp.	261	12,293
NCR Corp. *	269	7,788
Trimble, Inc. *	3,361	137,196
Western Digital Corp.	3,887	198,703
Xerox Corp.	2,688	89,672
		6,130,727

Telecommunication Services 3.6%
AT&T, Inc.	97,563	3,020,550
CenturyLink, Inc.	12,871	146,987
Sprint Corp. *	8,736	48,747
T-Mobile US, Inc. *	1,441	105,179
Telephone & Data Systems, Inc.	1,292	41,189
United States Cellular Corp. *	165	7,936
Verizon Communications, Inc.	55,520	3,175,189
		6,545,777

Transportation 1.6%
Alaska Air Group, Inc.	1,623	100,464
AMERCO	94	35,078
American Airlines Group, Inc.	5,563	190,143
Copa Holdings S.A., Class A	410	34,137
CSX Corp.	5,529	440,274
Delta Air Lines, Inc.	6,424	374,455
Genesee & Wyoming, Inc., Class A *	603	53,456
JetBlue Airways Corp. *	4,100	76,055
Kansas City Southern	1,361	167,593
Kirby Corp. *	787	64,314
Knight-Swift Transportation Holdings, Inc.	1,714	57,162
Macquarie Infrastructure Corp.	1,037	42,009
Norfolk Southern Corp.	3,586	731,616
Ryder System, Inc.	682	42,966
Schneider National, Inc., Class B	499	10,429
Southwest Airlines Co.	1,961	106,345
Union Pacific Corp.	785	138,976
United Continental Holdings, Inc. *	3,281	291,550
		2,957,022

Utilities 6.3%
AES Corp.	8,880	152,026
Alliant Energy Corp.	3,179	150,144
Ameren Corp.	3,264	237,521
American Electric Power Co., Inc.	6,614	565,828
American Water Works Co., Inc.	2,423	262,144
Aqua America, Inc.	2,814	109,915
Atmos Energy Corp.	1,536	157,194
Avangrid, Inc.	737	37,742
CenterPoint Energy, Inc.	6,736	208,816
CMS Energy Corp.	3,784	210,201
Consolidated Edison, Inc.	4,177	359,890
Dominion Energy, Inc.	10,176	792,405
DTE Energy Co.	2,425	304,847

₆₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Large-Cap Value Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Duke Energy Corp.	9,563	871,381
Edison International	4,262	271,788
Entergy Corp.	2,429	235,370
Evergy, Inc.	3,530	204,105
Eversource Energy	4,250	304,555
Exelon Corp.	12,935	659,038
FirstEnergy Corp.	6,520	274,036
Hawaiian Electric Industries, Inc.	1,449	60,104
MDU Resources Group, Inc.	2,564	67,049
National Fuel Gas Co.	1,072	63,473
NextEra Energy, Inc.	6,401	1,244,610
NiSource, Inc.	4,992	138,678
NRG Energy, Inc.	3,883	159,863
OGE Energy Corp.	2,708	114,657
PG&E Corp. *	6,917	155,771
Pinnacle West Capital Corp.	1,506	143,477
PPL Corp.	9,684	302,238
Public Service Enterprise Group, Inc.	6,762	403,353
Sempra Energy	3,669	469,448
The Southern Co.	13,814	735,181
UGI Corp.	2,332	127,117
Vistra Energy Corp.	5,279	143,853
WEC Energy Group, Inc.	4,232	331,916
Xcel Energy, Inc.	6,823	385,499
		11,415,233
Total Common Stock
(Cost $165,683,311)		180,633,538

Other Investment Company 0.1% of net assets

Equity Fund 0.1%
iShares Russell Mid-Cap ETF	800	102,200
Total Other Investment Company
(Cost $100,976)		102,200

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
Russell 1000 Index, e-mini, expires 06/21/19	5	314,500	1,639

*	Non-income producing security.

ETF —	Exchange-traded fund
REIT —	Real Estate Investment Trust

₆₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 99.7% of net assets

Automobiles & Components 0.8%
Adient plc	3,734	86,255
Aptiv plc	10,243	877,825
BorgWarner, Inc.	8,271	345,480
Gentex Corp.	10,314	237,531
Harley-Davidson, Inc.	6,460	240,506
Lear Corp.	2,450	350,350
The Goodyear Tire & Rubber Co.	9,118	175,157
Thor Industries, Inc.	1,968	129,632
Visteon Corp. *	1,133	74,801
		2,517,537

Banks 4.3%
Associated Banc-Corp.	6,511	147,735
Bank of Hawaii Corp.	1,613	132,879
Bank OZK	4,823	157,471
BankUnited, Inc.	3,781	138,309
BOK Financial Corp.	1,282	111,713
CIT Group, Inc.	3,986	212,334
Citizens Financial Group, Inc.	18,460	668,252
Comerica, Inc.	6,364	500,147
Commerce Bancshares, Inc.	3,916	236,644
Cullen/Frost Bankers, Inc.	2,234	227,175
East West Bancorp, Inc.	5,680	292,406
F.N.B. Corp.	12,761	154,791
Fifth Third Bancorp	30,206	870,537
First Citizens BancShares, Inc., Class A	309	138,509
First Hawaiian, Inc.	5,252	145,218
First Horizon National Corp.	12,329	186,045
First Republic Bank	6,446	680,826
Huntington Bancshares, Inc.	40,878	569,022
KeyCorp	40,019	702,333
M&T Bank Corp.	5,452	927,222
New York Community Bancorp, Inc.	18,106	210,573
PacWest Bancorp	4,790	189,444
People's United Financial, Inc.	15,341	265,246
Pinnacle Financial Partners, Inc.	2,937	170,552
Popular, Inc.	3,887	224,319
Prosperity Bancshares, Inc.	2,597	191,243
Regions Financial Corp.	40,775	633,236
Signature Bank	2,057	271,668
Sterling Bancorp	8,382	179,542
SunTrust Banks, Inc.	17,699	1,158,930
SVB Financial Group *	2,087	525,340
Synovus Financial Corp.	6,320	232,955
TCF Financial Corp.	6,291	139,220
Texas Capital Bancshares, Inc. *	1,989	128,748
TFS Financial Corp.	1,961	32,631
Umpqua Holdings Corp.	8,699	151,015
Webster Financial Corp.	3,615	192,065
Western Alliance Bancorp *	3,847	183,810
Wintrust Financial Corp.	2,196	167,335
Zions Bancorp NA	7,267	358,481
		12,805,921

Security	Number of Shares	Value ($)
Capital Goods 9.5%
A.O. Smith Corp.	5,583	293,498
Acuity Brands, Inc.	1,565	229,006
AECOM *	6,182	209,570
AGCO Corp.	2,564	181,480
Air Lease Corp.	3,791	146,181
Allegion plc	3,724	369,533
Allison Transmission Holdings, Inc.	4,487	210,261
AMETEK, Inc.	9,003	793,794
Arconic, Inc.	17,095	367,201
Arcosa, Inc.	1,867	58,120
Armstrong World Industries, Inc.	1,713	148,466
BWX Technologies, Inc.	3,922	200,414
Carlisle Cos., Inc.	2,293	324,276
Colfax Corp. *	3,308	99,802
Crane Co.	1,960	166,698
Cummins, Inc.	5,863	974,958
Curtiss-Wright Corp.	1,737	197,914
Donaldson Co., Inc.	5,049	270,323
Dover Corp.	5,717	560,495
Fastenal Co.	11,331	799,402
Flowserve Corp.	5,162	253,093
Fluor Corp.	5,545	220,303
Fortive Corp.	11,570	998,954
Fortune Brands Home & Security, Inc.	5,588	294,935
Gardner Denver Holdings, Inc. *	5,033	169,864
Gates Industrial Corp. plc *	1,755	28,220
Graco, Inc.	6,491	332,664
GrafTech International Ltd.	2,373	27,171
Harris Corp.	4,675	787,737
HD Supply Holdings, Inc. *	6,988	319,282
HEICO Corp.	1,546	163,149
HEICO Corp., Class A	2,982	266,680
Hexcel Corp.	3,323	234,969
Hubbell, Inc.	2,158	275,361
Huntington Ingalls Industries, Inc.	1,668	371,263
IDEX Corp.	3,023	473,583
Ingersoll-Rand plc	9,652	1,183,432
ITT, Inc.	3,447	208,716
Jacobs Engineering Group, Inc.	4,924	383,777
L3 Technologies, Inc.	3,084	674,101
Lennox International, Inc.	1,413	383,559
Lincoln Electric Holdings, Inc.	2,447	213,550
Masco Corp.	11,581	452,354
MSC Industrial Direct Co., Inc., Class A	1,735	145,133
Nordson Corp.	2,270	331,306
nVent Electric plc	6,297	176,001
Oshkosh Corp.	2,744	226,627
Owens Corning	4,287	219,794
PACCAR, Inc.	13,326	955,074
Parker-Hannifin Corp.	5,088	921,335
Pentair plc	6,188	241,270
Quanta Services, Inc.	5,723	232,354
Regal Beloit Corp.	1,708	145,317
Rockwell Automation, Inc.	4,742	856,927
Roper Technologies, Inc.	3,992	1,435,922
Sensata Technologies Holding plc *	6,352	317,219
Snap-on, Inc.	2,180	366,850
Spirit AeroSystems Holdings, Inc., Class A	4,182	363,416

₇₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Stanley Black & Decker, Inc.	5,965	874,469
Teledyne Technologies, Inc. *	1,386	344,435
Terex Corp.	2,591	86,358
Textron, Inc.	9,606	509,118
The Middleby Corp. *	2,157	285,004
The Timken Co.	2,682	128,602
The Toro Co.	4,062	297,135
TransDigm Group, Inc. *	1,910	921,613
Trinity Industries, Inc.	5,698	122,849
United Rentals, Inc. *	3,139	442,348
Univar, Inc. *	4,969	110,958
Valmont Industries, Inc.	851	114,749
W.W. Grainger, Inc.	1,792	505,344
WABCO Holdings, Inc. *	2,054	272,032
Wabtec Corp.	5,219	386,571
Watsco, Inc.	1,261	199,831
Welbilt, Inc. *	5,106	85,934
WESCO International, Inc. *	1,863	106,638
Xylem, Inc.	7,064	589,138
		28,635,780

Commercial & Professional Services 2.4%
ADT, Inc.	3,985	26,261
Cintas Corp.	3,375	732,848
Clean Harbors, Inc. *	2,033	154,508
Copart, Inc. *	7,994	538,156
CoStar Group, Inc. *	1,410	699,713
Equifax, Inc.	4,712	593,476
IHS Markit Ltd. *	15,255	873,501
KAR Auction Services, Inc.	5,284	298,440
ManpowerGroup, Inc.	2,426	232,993
Nielsen Holdings plc	14,095	359,845
Republic Services, Inc.	8,558	708,774
Robert Half International, Inc.	4,646	288,470
Rollins, Inc.	5,727	221,463
Stericycle, Inc. *	3,241	189,242
TransUnion	7,267	506,147
Verisk Analytics, Inc.	6,318	891,723
		7,315,560

Consumer Durables & Apparel 3.0%
Brunswick Corp.	3,384	173,295
Capri Holdings Ltd. *	5,527	243,630
Carter's, Inc.	1,765	186,931
Columbia Sportswear Co.	1,183	118,265
D.R. Horton, Inc.	13,456	596,235
Garmin Ltd.	4,489	384,887
Hanesbrands, Inc.	14,116	255,076
Hasbro, Inc.	4,580	466,519
Leggett & Platt, Inc.	5,167	203,373
Lennar Corp., B Shares	646	26,951
Lennar Corp., Class A	11,086	576,805
lululemon Athletica, Inc. *	3,767	664,310
Mattel, Inc. *	13,660	166,515
Mohawk Industries, Inc. *	2,444	332,995
Newell Brands, Inc.	17,099	245,884
NVR, Inc. *	123	387,755
Polaris Industries, Inc.	2,320	223,648
PulteGroup, Inc.	9,903	311,548
PVH Corp.	2,975	383,745
Ralph Lauren Corp.	2,066	271,844
Skechers U.S.A., Inc., Class A *	5,111	161,814
Tapestry, Inc.	11,387	367,459
Tempur Sealy International, Inc. *	1,839	112,915
Toll Brothers, Inc.	5,351	203,873
Under Armour, Inc., Class A *	7,344	169,573

Security	Number of Shares	Value ($)
Under Armour, Inc., Class C *	7,403	153,390
VF Corp.	12,761	1,204,766
Whirlpool Corp.	2,452	340,387
		8,934,388

Consumer Services 3.2%
Aramark	9,613	298,772
Bright Horizons Family Solutions, Inc. *	2,253	288,722
Caesars Entertainment Corp. *	22,433	209,973
Chipotle Mexican Grill, Inc. *	960	660,518
Choice Hotels International, Inc.	1,350	112,104
Darden Restaurants, Inc.	4,884	574,358
Domino's Pizza, Inc.	1,635	442,398
Dunkin' Brands Group, Inc.	3,268	243,891
Extended Stay America, Inc.	7,391	132,373
frontdoor, Inc. *	3,315	116,821
Graham Holdings Co., Class B	162	120,436
Grand Canyon Education, Inc. *	1,868	216,483
H&R Block, Inc.	8,097	220,319
Hilton Grand Vacations, Inc. *	3,800	121,752
Hilton Worldwide Holdings, Inc.	10,867	945,320
Hyatt Hotels Corp., Class A	1,584	121,540
International Game Technology plc	3,815	55,814
MGM Resorts International	19,767	526,395
Norwegian Cruise Line Holdings Ltd. *	8,666	488,676
Royal Caribbean Cruises Ltd.	6,566	794,092
Service Corp. International	6,848	284,945
ServiceMaster Global Holdings, Inc. *	5,362	262,899
Six Flags Entertainment Corp.	2,870	152,368
The Wendy's Co.	7,329	136,393
Vail Resorts, Inc.	1,573	359,981
Wyndham Destinations, Inc.	3,762	163,873
Wyndham Hotels & Resorts, Inc.	3,827	213,240
Wynn Resorts Ltd.	4,044	584,156
Yum China Holdings, Inc.	14,334	681,438
		9,530,050

Diversified Financials 5.2%
Affiliated Managers Group, Inc.	2,065	229,050
AGNC Investment Corp.	21,094	375,262
Ally Financial, Inc.	16,017	475,865
Ameriprise Financial, Inc.	5,374	788,742
Annaly Capital Management, Inc.	54,573	550,642
AXA Equitable Holdings, Inc.	9,381	212,855
BGC Partners, Inc., Class A	10,528	56,851
Cboe Global Markets, Inc.	4,391	446,169
Chimera Investment Corp.	7,292	139,788
Credit Acceptance Corp. *	433	214,863
Discover Financial Services	13,023	1,061,244
E*TRADE Financial Corp.	9,696	491,199
Eaton Vance Corp.	4,448	184,903
Evercore, Inc., Class A	1,592	155,109
FactSet Research Systems, Inc.	1,475	406,908
Franklin Resources, Inc.	11,841	409,580
Interactive Brokers Group, Inc., Class A	2,912	157,947
Invesco Ltd.	16,033	352,245
Jefferies Financial Group, Inc.	10,843	223,041
Lazard Ltd., Class A	4,489	174,532
Legg Mason, Inc.	3,305	110,552
LPL Financial Holdings, Inc.	3,301	244,571
MarketAxess Holdings, Inc.	1,445	402,187
MFA Financial, Inc.	17,510	131,500
Moody's Corp.	6,569	1,291,597
Morningstar, Inc.	712	102,136
MSCI, Inc.	3,256	733,837
Nasdaq, Inc.	4,554	419,879

₇₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Navient Corp.	9,564	129,210
New Residential Investment Corp.	15,987	268,741
Northern Trust Corp.	7,966	785,049
OneMain Holdings, Inc.	3,037	103,167
Raymond James Financial, Inc.	5,014	459,132
Santander Consumer USA Holdings, Inc.	4,496	95,990
SEI Investments Co.	5,097	277,532
SLM Corp.	17,263	175,392
Starwood Property Trust, Inc.	10,536	242,855
Synchrony Financial	28,374	983,727
T. Rowe Price Group, Inc.	9,156	984,270
Two Harbors Investment Corp.	9,629	133,458
Virtu Financial, Inc., Class A	1,600	39,328
Voya Financial, Inc.	5,927	325,333
		15,546,238

Energy 3.9%
Antero Resources Corp. *	9,649	69,955
Apache Corp.	15,082	496,349
Apergy Corp. *	3,042	120,737
Cabot Oil & Gas Corp.	16,719	432,855
Centennial Resource Development, Inc., Class A *	7,296	76,827
Cheniere Energy, Inc. *	9,081	584,362
Chesapeake Energy Corp. *	40,919	119,074
Cimarex Energy Co.	3,920	269,147
CNX Resources Corp. *	7,888	70,677
Concho Resources, Inc.	7,672	885,195
Continental Resources, Inc. *	3,455	158,896
Devon Energy Corp.	18,448	592,919
Diamondback Energy, Inc.	6,198	659,405
EQT Corp.	10,011	204,725
Equitrans Midstream Corp. *	8,317	173,243
Extraction Oil & Gas, Inc. *	4,450	20,915
Helmerich & Payne, Inc.	4,165	243,736
Hess Corp.	10,326	662,103
HollyFrontier Corp.	6,244	298,026
Kosmos Energy Ltd.	9,844	65,856
Marathon Oil Corp.	32,709	557,361
Murphy Oil Corp.	6,436	175,317
Nabors Industries Ltd.	13,685	47,898
National Oilwell Varco, Inc.	15,109	394,949
Noble Energy, Inc.	18,948	512,733
ONEOK, Inc.	16,162	1,097,885
Parsley Energy, Inc., Class A *	10,434	208,263
Patterson-UTI Energy, Inc.	8,405	114,224
PBF Energy, Inc., Class A	4,646	156,013
QEP Resources, Inc. *	9,369	70,455
Range Resources Corp.	8,220	74,309
RPC, Inc.	2,272	23,379
SM Energy Co.	4,381	69,789
Targa Resources Corp.	8,929	358,499
The Williams Cos., Inc.	47,010	1,331,793
Transocean Ltd. *	20,206	158,819
Weatherford International plc *	38,642	21,381
Whiting Petroleum Corp. *	3,488	95,536
WPX Energy, Inc. *	15,517	215,531
		11,889,136

Food & Staples Retailing 0.5%
Casey's General Stores, Inc.	1,438	190,319
Sprouts Farmers Market, Inc. *	4,985	106,779
The Kroger Co.	31,290	806,656
U.S. Foods Holding Corp. *	8,463	309,323
		1,413,077

Security	Number of Shares	Value ($)
Food, Beverage & Tobacco 2.9%
Archer-Daniels-Midland Co.	22,018	982,003
Brown-Forman Corp., Class A	2,042	106,797
Brown-Forman Corp., Class B	10,994	585,870
Bunge Ltd.	5,555	291,138
Campbell Soup Co.	6,996	270,675
ConAgra Brands, Inc.	18,966	583,773
Flowers Foods, Inc.	7,117	154,724
Hormel Foods Corp.	10,699	427,318
Ingredion, Inc.	2,625	248,719
Kellogg Co.	9,761	588,588
Keurig Dr Pepper, Inc.	7,099	206,368
Lamb Weston Holdings, Inc.	5,778	404,749
McCormick & Co., Inc. - Non Voting Shares	4,833	744,137
Molson Coors Brewing Co., Class B	6,844	439,316
Pilgrim's Pride Corp. *	2,127	57,238
Post Holdings, Inc. *	2,558	288,491
Seaboard Corp.	10	44,956
The Hain Celestial Group, Inc. *	3,603	78,617
The Hershey Co.	5,518	688,922
The JM Smucker Co.	4,340	532,214
TreeHouse Foods, Inc. *	2,132	142,801
Tyson Foods, Inc., Class A	11,466	860,065
		8,727,479

Health Care Equipment & Services 5.8%
ABIOMED, Inc. *	1,683	466,881
Acadia Healthcare Co., Inc. *	3,445	110,309
Align Technology, Inc. *	3,125	1,014,625
AmerisourceBergen Corp.	6,053	452,522
Cantel Medical Corp.	1,468	101,204
Cardinal Health, Inc.	11,759	572,781
Centene Corp. *	16,007	825,321
Cerner Corp. *	12,224	812,285
Chemed Corp.	612	199,989
Covetrus, Inc. *	2,374	78,033
DaVita, Inc. *	5,101	281,779
DENTSPLY SIRONA, Inc.	8,594	439,411
DexCom, Inc. *	3,443	416,844
Edwards Lifesciences Corp. *	8,278	1,457,507
Encompass Health Corp.	3,858	248,648
Henry Schein, Inc. *	5,951	381,221
Hill-Rom Holdings, Inc.	2,614	265,112
Hologic, Inc. *	10,498	486,897
ICU Medical, Inc. *	609	138,548
IDEXX Laboratories, Inc. *	3,385	785,320
Insulet Corp. *	2,299	198,289
Integra LifeSciences Holdings Corp. *	2,798	146,028
Laboratory Corp. of America Holdings *	3,971	635,042
Masimo Corp. *	1,811	235,702
MEDNAX, Inc. *	3,380	94,539
Molina Healthcare, Inc. *	2,439	316,168
Penumbra, Inc. *	1,203	161,803
Premier, Inc., Class A *	2,082	69,185
Quest Diagnostics, Inc.	5,360	516,597
ResMed, Inc.	5,528	577,731
Steris plc *	3,303	432,627
Teleflex, Inc.	1,800	515,124
The Cooper Cos., Inc.	1,902	551,428
Universal Health Services, Inc., Class B	3,288	417,149
Varian Medical Systems, Inc. *	3,599	490,076
Veeva Systems, Inc., Class A *	4,921	688,300
WellCare Health Plans, Inc. *	1,965	507,658

₇₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
West Pharmaceutical Services, Inc.	2,892	358,001
Zimmer Biomet Holdings, Inc.	8,028	988,728
		17,435,412

Household & Personal Products 0.7%
Church & Dwight Co., Inc.	9,627	721,544
Coty, Inc., Class A	12,585	136,170
Energizer Holdings, Inc.	2,466	118,097
Herbalife Nutrition Ltd. *	4,286	226,515
Nu Skin Enterprises, Inc., Class A	2,134	108,556
Spectrum Brands Holdings, Inc.	1,585	97,588
The Clorox Co.	5,067	809,352
		2,217,822

Insurance 3.7%
Alleghany Corp. *	564	370,480
American Financial Group, Inc.	2,826	292,576
American National Insurance Co.	294	33,307
Arch Capital Group Ltd. *	15,219	514,098
Arthur J. Gallagher & Co.	7,093	593,117
Assurant, Inc.	2,346	222,870
Assured Guaranty Ltd.	4,104	195,761
Athene Holding Ltd., Class A *	6,249	282,205
Axis Capital Holdings Ltd.	3,217	182,887
Brighthouse Financial, Inc. *	4,752	198,586
Brown & Brown, Inc.	9,104	289,052
Cincinnati Financial Corp.	6,036	580,543
CNA Financial Corp.	1,101	51,009
Erie Indemnity Co., Class A	973	184,208
Everest Re Group Ltd.	1,598	376,329
Fidelity National Financial, Inc.	10,414	416,039
First American Financial Corp.	4,293	244,959
Lincoln National Corp.	8,415	561,449
Loews Corp.	10,939	561,061
Markel Corp. *	535	573,258
Mercury General Corp.	1,103	59,319
Old Republic International Corp.	11,173	249,828
Principal Financial Group, Inc.	10,852	620,300
Reinsurance Group of America, Inc.	2,481	375,896
RenaissanceRe Holdings Ltd.	1,569	243,760
The Hanover Insurance Group, Inc.	1,674	201,901
The Hartford Financial Services Group, Inc.	14,113	738,251
Torchmark Corp.	4,062	356,075
Unum Group	8,000	295,360
W. R. Berkley Corp.	5,632	345,242
White Mountains Insurance Group Ltd.	121	113,624
Willis Towers Watson plc	5,113	942,530
		11,265,880

Materials 4.9%
Albemarle Corp.	4,184	314,051
Alcoa Corp. *	7,365	196,498
AptarGroup, Inc.	2,459	273,539
Ardagh Group S.A.	633	8,786
Ashland Global Holdings, Inc.	2,443	196,735
Avery Dennison Corp.	3,414	377,759
Axalta Coating Systems Ltd. *	8,198	221,182
Ball Corp.	13,178	789,889
Bemis Co., Inc.	3,572	205,104
Berry Global Group, Inc. *	5,122	301,174
Cabot Corp.	2,293	104,056
Celanese Corp.	5,030	542,687
CF Industries Holdings, Inc.	9,097	407,364
Crown Holdings, Inc. *	5,083	295,475
Domtar Corp.	2,448	119,707

Security	Number of Shares	Value ($)
Eagle Materials, Inc.	1,756	159,638
Eastman Chemical Co.	5,513	434,865
Element Solutions, Inc. *	8,727	94,775
FMC Corp.	5,289	418,148
Freeport-McMoRan, Inc.	56,913	700,599
Graphic Packaging Holding Co.	11,762	163,257
Huntsman Corp.	8,617	191,642
International Flavors & Fragrances, Inc.	3,966	546,475
International Paper Co.	16,128	754,952
Martin Marietta Materials, Inc.	2,468	547,649
NewMarket Corp.	297	124,615
Newmont Mining Corp.	32,251	1,001,716
Nucor Corp.	12,051	687,751
Olin Corp.	6,464	140,204
Owens-Illinois, Inc.	6,259	123,678
Packaging Corp. of America	3,665	363,421
Reliance Steel & Aluminum Co.	2,682	246,637
Royal Gold, Inc.	2,576	224,267
RPM International, Inc.	5,086	308,466
Sealed Air Corp.	6,169	287,599
Silgan Holdings, Inc.	3,025	90,569
Sonoco Products Co.	3,869	243,979
Steel Dynamics, Inc.	8,658	274,285
The Chemours Co.	6,740	242,707
The Mosaic Co.	13,865	362,015
The Scotts Miracle-Gro Co.	1,573	133,736
United States Steel Corp.	7,035	109,746
Valvoline, Inc.	7,445	137,733
Vulcan Materials Co.	5,187	654,133
W.R. Grace & Co.	2,603	196,735
Westlake Chemical Corp.	1,451	101,207
WestRock Co.	9,933	381,229
		14,802,434

Media & Entertainment 3.1%
AMC Networks, Inc., Class A *	1,746	101,984
Cable One, Inc.	168	178,169
CBS Corp., Class B - Non Voting Shares	12,815	657,025
Cinemark Holdings, Inc.	4,193	176,316
Discovery, Inc., Class A *	6,059	187,223
Discovery, Inc., Class C *	13,561	390,014
DISH Network Corp., Class A *	8,735	306,773
GCI Liberty, Inc., Class A *	3,965	236,393
IAC/InterActiveCorp *	2,935	659,905
John Wiley & Sons, Inc., Class A	1,737	80,215
Liberty Broadband Corp., Class A *	1,023	100,653
Liberty Broadband Corp., Class C *	4,067	401,454
Liberty Media Corp. - Liberty Formula One, Class A *	995	37,571
Liberty Media Corp. - Liberty Formula One, Class C *	7,793	302,446
Liberty Media Corp. - Liberty SiriusXM, Class A *	3,351	133,839
Liberty Media Corp. - Liberty SiriusXM, Class C *	6,478	260,156
Lions Gate Entertainment Corp., Class A	1,875	27,356
Lions Gate Entertainment Corp., Class B	3,912	53,203
Live Nation Entertainment, Inc. *	5,449	356,038
Match Group, Inc.	2,076	125,390
News Corp., Class A	14,949	185,667
News Corp., Class B	4,949	61,813
Omnicom Group, Inc.	8,772	702,023
Sirius XM Holdings, Inc.	65,474	380,404
Take-Two Interactive Software, Inc. *	4,392	425,277
The Interpublic Group of Cos., Inc.	15,200	349,600
The Madison Square Garden Co., Class A *	726	226,831
Tribune Media Co., Class A	3,428	158,374

₇₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
TripAdvisor, Inc. *	4,096	218,030
Twitter, Inc. *	28,216	1,126,101
Viacom, Inc., Class A	423	14,657
Viacom, Inc., Class B	13,855	400,548
Zillow Group, Inc., Class A *	2,284	75,852
Zillow Group, Inc., Class C *	4,744	158,450
Zynga, Inc., Class A *	30,121	170,485
		9,426,235

Pharmaceuticals, Biotechnology & Life Sciences 3.9%
Agilent Technologies, Inc.	12,564	986,274
Agios Pharmaceuticals, Inc. *	1,994	111,504
Alkermes plc *	6,070	184,042
Alnylam Pharmaceuticals, Inc. *	3,698	330,379
Bio-Rad Laboratories, Inc., Class A *	834	250,976
Bio-Techne Corp.	1,460	298,701
BioMarin Pharmaceutical, Inc. *	6,935	593,151
Bluebird Bio, Inc. *	2,124	301,247
Bruker Corp.	3,943	152,200
Catalent, Inc. *	5,714	256,102
Charles River Laboratories International, Inc. *	1,869	262,538
Elanco Animal Health, Inc. *	13,149	414,194
Exact Sciences Corp. *	4,710	464,830
Exelixis, Inc. *	11,614	228,331
Incyte Corp. *	6,928	532,070
Ionis Pharmaceuticals, Inc. *	4,928	366,298
IQVIA Holdings, Inc. *	6,838	949,798
Jazz Pharmaceuticals plc *	2,306	299,250
Mettler-Toledo International, Inc. *	968	721,412
Moderna, Inc. *	1,117	29,076
Mylan N.V. *	20,204	545,306
Nektar Therapeutics *	6,147	196,827
Neurocrine Biosciences, Inc. *	3,537	255,513
PerkinElmer, Inc.	4,345	416,425
Perrigo Co., plc	5,057	242,331
PRA Health Sciences, Inc. *	2,275	220,266
QIAGEN N.V. *	8,697	338,835
Sage Therapeutics, Inc. *	1,909	321,151
Sarepta Therapeutics, Inc. *	2,604	304,512
Seattle Genetics, Inc. *	4,253	288,268
United Therapeutics Corp. *	1,693	173,651
Waters Corp. *	2,967	633,573
		11,669,031

Real Estate 8.9%
Alexandria Real Estate Equities, Inc.	4,395	625,804
American Campus Communities, Inc.	5,372	253,558
American Homes 4 Rent, Class A	10,223	245,148
Apartment Investment & Management Co., Class A	5,932	292,804
Apple Hospitality REIT, Inc.	8,456	139,101
AvalonBay Communities, Inc.	5,444	1,093,863
Boston Properties, Inc.	6,094	838,656
Brandywine Realty Trust	6,944	106,868
Brixmor Property Group, Inc.	11,881	212,432
Brookfield Property REIT, Inc., Class A	5,009	104,338
Camden Property Trust	3,484	350,665
CBRE Group, Inc., Class A *	12,539	652,906
Colony Capital, Inc.	18,748	96,365
Columbia Property Trust, Inc.	4,699	106,714
CoreSite Realty Corp.	1,440	157,550
Corporate Office Properties Trust	4,088	113,973
CubeSmart	7,291	232,656
CyrusOne, Inc.	4,132	230,111
Digital Realty Trust, Inc.	8,103	953,804
Douglas Emmett, Inc.	6,307	259,785

Security	Number of Shares	Value ($)
Duke Realty Corp.	14,084	438,294
Empire State Realty Trust, Inc., Class A	5,560	85,958
EPR Properties	2,922	230,429
Equity Commonwealth	4,667	148,411
Equity LifeStyle Properties, Inc.	3,362	392,345
Equity Residential	14,146	1,081,037
Essex Property Trust, Inc.	2,595	733,088
Extra Space Storage, Inc.	4,810	498,749
Federal Realty Investment Trust	2,859	382,677
Gaming & Leisure Properties, Inc.	7,923	319,931
HCP, Inc.	18,829	560,728
Healthcare Trust of America, Inc., Class A	8,113	223,757
Highwoods Properties, Inc.	3,982	177,518
Hospitality Properties Trust	6,392	166,192
Host Hotels & Resorts, Inc.	28,866	555,382
Hudson Pacific Properties, Inc.	6,072	211,670
Invitation Homes, Inc.	13,421	333,646
Iron Mountain, Inc.	11,178	363,061
JBG SMITH Properties	4,469	190,156
Jones Lang LaSalle, Inc.	1,787	276,217
Kilroy Realty Corp.	3,898	299,795
Kimco Realty Corp.	15,993	278,118
Lamar Advertising Co., Class A	3,331	275,374
Liberty Property Trust	5,822	289,004
Life Storage, Inc.	1,795	171,046
Medical Properties Trust, Inc.	14,575	254,480
Mid-America Apartment Communities, Inc.	4,456	487,531
National Retail Properties, Inc.	6,220	327,296
Omega Healthcare Investors, Inc.	7,801	276,077
Outfront Media, Inc.	5,446	129,778
Paramount Group, Inc.	8,064	116,847
Park Hotels & Resorts, Inc.	7,926	254,266
Rayonier, Inc.	5,081	161,525
Realogy Holdings Corp.	4,544	59,163
Realty Income Corp.	11,646	815,336
Regency Centers Corp.	5,995	402,684
Retail Properties of America, Inc., Class A	8,552	105,104
Retail Value, Inc.	610	20,435
SBA Communications Corp. *	4,419	900,283
Senior Housing Properties Trust	9,209	73,948
SITE Centers Corp.	6,010	79,572
SL Green Realty Corp.	3,201	282,776
Spirit Realty Capital, Inc.	3,337	135,015
STORE Capital Corp.	7,525	250,733
Sun Communities, Inc.	3,303	406,533
Taubman Centers, Inc.	2,322	114,475
The Howard Hughes Corp. *	1,525	169,275
The Macerich Co.	5,329	213,906
UDR, Inc.	10,787	484,876
Uniti Group, Inc.	6,577	72,281
Ventas, Inc.	14,036	857,740
VEREIT, Inc.	38,162	315,218
VICI Properties, Inc.	15,920	362,976
Vornado Realty Trust	6,807	470,636
Weingarten Realty Investors	4,666	135,034
Welltower, Inc.	14,669	1,093,281
Weyerhaeuser Co.	29,573	792,556
WP Carey, Inc.	6,279	498,050
		26,869,370

Retailing 4.9%
Advance Auto Parts, Inc.	2,742	456,049
AutoNation, Inc. *	2,165	90,778
AutoZone, Inc. *	990	1,018,027
Best Buy Co., Inc.	9,106	677,577
Burlington Stores, Inc. *	2,620	442,544
CarMax, Inc. *	6,695	521,273

₇₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Dick's Sporting Goods, Inc.	2,785	103,045
Dollar General Corp.	10,484	1,321,928
Dollar Tree, Inc. *	9,252	1,029,563
Expedia Group, Inc.	4,648	603,496
Floor & Decor Holdings, Inc., Class A *	2,309	110,878
Foot Locker, Inc.	4,424	253,097
Genuine Parts Co.	5,639	578,223
GrubHub, Inc. *	3,563	237,973
Kohl's Corp.	6,478	460,586
L Brands, Inc.	8,964	229,837
LKQ Corp. *	12,431	374,173
Macy's, Inc.	12,032	283,233
Nordstrom, Inc.	4,612	189,184
O'Reilly Automotive, Inc. *	3,057	1,157,289
Penske Automotive Group, Inc.	1,360	62,451
Pool Corp.	1,548	284,430
Qurate Retail, Inc. *	16,378	279,245
Ross Stores, Inc.	14,405	1,406,792
The Gap, Inc.	8,536	222,619
The Michaels Cos., Inc. *	3,732	41,948
Tiffany & Co.	4,801	517,644
Tractor Supply Co.	4,817	498,560
Ulta Salon, Cosmetics & Fragrance, Inc. *	2,230	778,225
Urban Outfitters, Inc. *	2,895	86,068
Wayfair, Inc., Class A *	2,258	366,135
Williams-Sonoma, Inc.	3,172	181,343
		14,864,213

Semiconductors & Semiconductor Equipment 3.7%
Advanced Micro Devices, Inc. *	36,918	1,020,044
Analog Devices, Inc.	14,561	1,692,571
Cypress Semiconductor Corp.	14,184	243,681
First Solar, Inc. *	3,204	197,142
KLA-Tencor Corp.	6,413	817,529
Lam Research Corp.	6,014	1,247,484
Marvell Technology Group Ltd.	21,879	547,413
Maxim Integrated Products, Inc.	10,730	643,800
Microchip Technology, Inc.	9,171	916,091
MKS Instruments, Inc.	2,107	191,758
Monolithic Power Systems, Inc.	1,605	249,915
ON Semiconductor Corp. *	16,458	379,522
Qorvo, Inc. *	4,840	365,952
Skyworks Solutions, Inc.	6,826	601,917
Teradyne, Inc.	7,025	344,225
Universal Display Corp.	1,674	267,170
Versum Materials, Inc.	4,270	222,809
Xilinx, Inc.	10,039	1,206,085
		11,155,108

Software & Services 12.0%
2U, Inc. *	2,167	131,104
Akamai Technologies, Inc. *	6,255	500,775
Alliance Data Systems Corp.	1,862	298,106
Amdocs Ltd.	5,427	298,919
ANSYS, Inc. *	3,276	641,441
Aspen Technology, Inc. *	2,739	333,911
Atlassian Corp. plc, Class A *	3,963	436,524
Autodesk, Inc. *	8,653	1,542,051
Black Knight, Inc. *	5,575	314,541
Booz Allen Hamilton Holding Corp.	5,417	321,174
Broadridge Financial Solutions, Inc.	4,568	539,618
Cadence Design Systems, Inc. *	11,011	763,943
CDK Global, Inc.	4,911	296,232
Ceridian HCM Holding, Inc. *	1,916	101,835
Citrix Systems, Inc.	5,336	538,723
Conduent, Inc. *	7,579	97,239

Security	Number of Shares	Value ($)
CoreLogic, Inc. *	3,142	127,597
DocuSign, Inc. *	3,068	173,864
DXC Technology Co.	10,573	695,069
Elastic N.V. *	301	25,751
EPAM Systems, Inc. *	2,027	363,563
Euronet Worldwide, Inc. *	1,938	290,487
Fair Isaac Corp. *	1,128	315,558
Fidelity National Information Services, Inc.	12,864	1,491,324
FireEye, Inc. *	7,604	121,816
First Data Corp., Class A *	21,396	553,301
Fiserv, Inc. *	15,715	1,370,977
FleetCor Technologies, Inc. *	3,360	876,792
Fortinet, Inc. *	5,561	519,509
Gartner, Inc. *	3,484	553,851
Genpact Ltd.	6,119	222,120
Global Payments, Inc.	6,266	915,275
GoDaddy, Inc., Class A *	6,655	542,382
Guidewire Software, Inc. *	3,181	338,776
Jack Henry & Associates, Inc.	3,037	452,695
Leidos Holdings, Inc.	5,578	409,871
LogMeIn, Inc.	1,987	163,729
Manhattan Associates, Inc. *	2,526	170,379
Nuance Communications, Inc. *	11,308	190,314
Nutanix, Inc., Class A *	5,529	238,798
Okta, Inc. *	3,410	354,742
Palo Alto Networks, Inc. *	3,589	893,051
Paychex, Inc.	12,649	1,066,437
Paycom Software, Inc. *	1,900	384,807
Pegasystems, Inc.	1,504	112,815
Pluralsight, Inc., Class A *	2,102	74,600
Proofpoint, Inc. *	1,970	247,077
PTC, Inc. *	4,586	414,895
RealPage, Inc. *	2,802	182,718
Red Hat, Inc. *	6,977	1,273,512
RingCentral, Inc., Class A *	2,689	312,919
Sabre Corp.	10,819	224,602
ServiceNow, Inc. *	7,013	1,904,100
SolarWinds Corp. *	1,003	19,609
Splunk, Inc. *	5,780	797,871
Square, Inc., Class A *	11,536	840,052
SS&C Technologies Holdings, Inc.	8,492	574,569
Switch, Inc., Class A	1,602	17,414
Symantec Corp.	25,092	607,477
Synopsys, Inc. *	5,816	704,201
Tableau Software, Inc., Class A *	2,799	340,946
Teradata Corp. *	4,646	211,254
The Ultimate Software Group, Inc. *	1,195	395,127
The Western Union Co.	17,467	339,558
Total System Services, Inc.	7,099	725,802
Twilio, Inc., Class A *	3,454	473,682
Tyler Technologies, Inc. *	1,498	347,401
VeriSign, Inc. *	4,050	799,672
WEX, Inc. *	1,618	340,265
Workday, Inc., Class A *	5,726	1,177,437
Worldpay, Inc., Class A *	11,800	1,383,078
Zendesk, Inc. *	4,125	362,092
		36,183,716

Technology Hardware & Equipment 3.8%
Amphenol Corp., Class A	11,628	1,157,684
Arista Networks, Inc. *	2,267	707,961
Arrow Electronics, Inc. *	3,329	281,334
Avnet, Inc.	4,260	207,079
CDW Corp.	5,779	610,262
Cognex Corp.	6,533	329,459
Coherent, Inc. *	941	139,277
CommScope Holding Co., Inc. *	7,429	184,091

₇₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab U.S. Mid-Cap Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Corning, Inc.	31,058	989,197
Dell Technologies, Inc., Class C *	5,907	398,191
Dolby Laboratories, Inc., Class A	2,459	159,073
EchoStar Corp., Class A *	1,902	75,795
F5 Networks, Inc. *	2,349	368,558
FLIR Systems, Inc.	5,293	280,211
IPG Photonics Corp. *	1,411	246,544
Jabil, Inc.	5,925	178,994
Juniper Networks, Inc.	13,484	374,451
Keysight Technologies, Inc. *	7,384	642,629
Littelfuse, Inc.	955	192,003
Motorola Solutions, Inc.	6,392	926,265
National Instruments Corp.	4,357	205,215
NCR Corp. *	4,618	133,691
NetApp, Inc.	9,961	725,659
Pure Storage, Inc., Class A *	6,397	146,235
Trimble, Inc. *	9,840	401,669
Ubiquiti Networks, Inc.	587	100,054
Western Digital Corp.	11,399	582,717
Xerox Corp.	7,948	265,145
Zebra Technologies Corp., Class A *	2,083	439,805
		11,449,248

Telecommunication Services 0.3%
CenturyLink, Inc.	37,757	431,185
Sprint Corp. *	25,369	141,559
Telephone & Data Systems, Inc.	3,911	124,683
United States Cellular Corp. *	545	26,214
Zayo Group Holdings, Inc. *	8,933	279,514
		1,003,155

Transportation 1.9%
Alaska Air Group, Inc.	4,722	292,292
AMERCO	280	104,488
American Airlines Group, Inc.	16,319	557,783
C.H. Robinson Worldwide, Inc.	5,363	434,403
Copa Holdings S.A., Class A	1,216	101,244
Expeditors International of Washington, Inc.	6,781	538,547
Genesee & Wyoming, Inc., Class A *	2,280	202,122
JB Hunt Transport Services, Inc.	3,445	325,484
JetBlue Airways Corp. *	12,020	222,971
Kansas City Southern	3,974	489,358
Kirby Corp. *	2,306	188,446
Knight-Swift Transportation Holdings, Inc.	4,952	165,149
Landstar System, Inc.	1,563	170,304
Macquarie Infrastructure Corp.	3,124	126,553
Old Dominion Freight Line, Inc.	2,602	388,427
Ryder System, Inc.	2,037	128,331
Schneider National, Inc., Class B	1,874	39,167
United Continental Holdings, Inc. *	9,644	856,966
XPO Logistics, Inc. *	4,915	334,613
		5,666,648

Utilities 6.4%
AES Corp.	25,977	444,726
Alliant Energy Corp.	9,340	441,128
Ameren Corp.	9,594	698,155
American Water Works Co., Inc.	7,130	771,395
Aqua America, Inc.	8,278	323,339
Atmos Energy Corp.	4,524	462,986
Avangrid, Inc.	2,175	111,382
CenterPoint Energy, Inc.	19,714	611,134
CMS Energy Corp.	11,117	617,549
Consolidated Edison, Inc.	12,273	1,057,442
DTE Energy Co.	7,131	896,438

Security	Number of Shares	Value ($)
Edison International	12,533	799,229
Entergy Corp.	7,141	691,963
Evergy, Inc.	10,345	598,148
Eversource Energy	12,486	894,747
FirstEnergy Corp.	19,182	806,219
Hawaiian Electric Industries, Inc.	4,230	175,460
MDU Resources Group, Inc.	7,670	200,571
National Fuel Gas Co.	3,210	190,064
NiSource, Inc.	14,681	407,838
NRG Energy, Inc.	11,372	468,185
OGE Energy Corp.	7,832	331,607
PG&E Corp. *	20,354	458,372
Pinnacle West Capital Corp.	4,381	417,378
PPL Corp.	28,450	887,925
Public Service Enterprise Group, Inc.	19,880	1,185,842
Sempra Energy	10,789	1,380,453
UGI Corp.	6,765	368,760
Vistra Energy Corp.	15,603	425,182
WEC Energy Group, Inc.	12,440	975,669
Xcel Energy, Inc.	20,052	1,132,938
		19,232,224
Total Common Stock
(Cost $275,365,314)		300,555,662

Other Investment Companies 0.2% of net assets

Equity Fund 0.0%
iShares Russell Mid-Cap ETF	2,200	123,112

Money Market Fund 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class 2.37% (a)	509,448	509,448
Total Other Investment Companies
(Cost $632,269)		632,560

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
S&P Mid-Cap 400 Index, e-mini, expires 06/21/19	4	789,360	3,596

*	Non-income producing security.
(a)	The rate shown is the 7-day yield.

ETF —	Exchange-traded fund
REIT —	Real Estate Investment Trust

₇₆

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited)

This section shows all the securities in the fund’s portfolio and their values as of the report date.

Security	Number of Shares	Value ($)
Common Stock 98.6% of net assets

Australia 6.8%
AGL Energy Ltd.	231,771	3,636,103
Alumina Ltd.	827,112	1,308,806
Amcor Ltd.	417,300	4,717,094
AMP Ltd.	1,049,166	1,681,745
APA Group	438,684	2,977,862
Aristocrat Leisure Ltd.	210,218	3,869,814
ASX Ltd.	67,402	3,541,185
Aurizon Holdings Ltd.	702,593	2,357,555
AusNet Services	630,312	789,142
Australia & New Zealand Banking Group Ltd.	1,017,635	19,522,896
Bank of Queensland Ltd. (a)	135,798	887,523
Bendigo & Adelaide Bank Ltd.	181,580	1,318,872
BHP Group Ltd.	1,059,047	28,024,866
BlueScope Steel Ltd.	184,866	1,756,743
Boral Ltd.	409,633	1,402,436
Brambles Ltd.	568,533	4,831,217
Caltex Australia Ltd.	92,735	1,778,218
Challenger Ltd.	215,876	1,249,696
CIMIC Group Ltd.	36,940	1,317,786
Coca-Cola Amatil Ltd.	167,340	1,038,026
Cochlear Ltd.	20,253	2,677,142
Coles Group Ltd. *	400,723	3,562,908
Commonwealth Bank of Australia	633,178	33,276,804
Computershare Ltd.	170,525	2,145,247
Crown Resorts Ltd.	128,331	1,202,976
CSL Ltd.	161,879	22,705,436
Dexus	374,210	3,303,800
Domino's Pizza Enterprises Ltd.	20,589	624,121
Flight Centre Travel Group Ltd.	17,631	477,608
Fortescue Metals Group Ltd.	537,482	2,716,007
Goodman Group	580,772	5,404,425
Harvey Norman Holdings Ltd.	213,558	627,888
Incitec Pivot Ltd.	548,693	1,303,916
Insurance Australia Group Ltd.	844,517	4,692,522
James Hardie Industries plc	160,058	2,177,635
LendLease Group	199,868	1,874,237
Macquarie Group Ltd.	114,746	10,904,781
Medibank Pvt Ltd.	949,579	1,913,746
Mirvac Group	1,322,911	2,648,321
National Australia Bank Ltd.	983,232	17,555,635
Newcrest Mining Ltd.	273,126	4,824,830
Oil Search Ltd.	495,321	2,712,590
Orica Ltd.	133,635	1,752,127
Origin Energy Ltd.	611,130	3,175,779
QBE Insurance Group Ltd.	468,018	4,268,815
Ramsay Health Care Ltd.	49,562	2,282,424
REA Group Ltd.	18,040	1,016,636
Rio Tinto Ltd.	131,939	8,892,997
Santos Ltd.	623,928	3,157,455
Scentre Group	1,868,846	5,041,209
SEEK Ltd.	122,454	1,572,804
Sonic Healthcare Ltd.	151,568	2,740,936
South32 Ltd.	1,769,858	4,180,087
Stockland	839,129	2,233,870
Suncorp Group Ltd.	475,506	4,449,905

Security	Number of Shares	Value ($)
Sydney Airport	390,321	2,098,033
Tabcorp Holdings Ltd.	693,850	2,342,915
Telstra Corp., Ltd.	1,469,937	3,501,159
The GPT Group	630,950	2,552,228
TPG Telecom Ltd.	127,512	605,898
Transurban Group	942,668	8,926,531
Treasury Wine Estates Ltd.	252,786	3,066,219
Vicinity Centres	1,124,282	2,016,213
Washington H Soul Pattinson & Co., Ltd.	37,939	615,335
Wesfarmers Ltd.	405,560	10,294,039
Westpac Banking Corp.	1,220,306	23,706,151
Woodside Petroleum Ltd.	333,075	8,303,468
Woolworths Group Ltd.	469,526	10,542,045
WorleyParsons Ltd.	110,838	1,116,886
		341,792,324

Austria 0.2%
ANDRITZ AG	25,822	1,233,156
Erste Group Bank AG	106,658	4,270,708
OMV AG	54,434	2,919,792
Raiffeisen Bank International AG	52,339	1,395,999
Verbund AG	23,583	1,171,063
voestalpine AG	40,375	1,299,027
		12,289,745

Belgium 1.0%
Ageas	65,455	3,458,998
Anheuser-Busch InBev S.A./N.V.	272,741	24,248,619
Colruyt S.A.	22,678	1,637,104
Groupe Bruxelles Lambert S.A.	28,820	2,759,809
KBC Group N.V.	88,389	6,561,633
Proximus	52,795	1,478,635
Solvay S.A.	26,372	3,179,823
Telenet Group Holding N.V.	18,167	964,900
UCB S.A.	44,821	3,562,326
Umicore S.A.	74,941	2,908,291
		50,760,138

Denmark 1.7%
AP Moeller - Maersk A/S, Series A	1,374	1,680,709
AP Moeller - Maersk A/S, Series B	2,281	2,940,424
Carlsberg A/S, Class B	38,449	4,971,487
Chr. Hansen Holding A/S	35,799	3,657,978
Coloplast A/S, Class B	42,895	4,633,579
Danske Bank A/S	253,289	4,501,897
Demant A/S *	35,986	1,137,027
DSV A/S	66,094	6,124,786
Genmab A/S *	22,205	3,686,211
H. Lundbeck A/S	23,910	1,008,009
ISS A/S	58,405	1,818,826
Novo Nordisk A/S, Class B	648,305	31,763,405
Novozymes A/S, B Shares	80,592	3,761,656
Orsted A/S	67,087	5,136,117
Pandora A/S	39,985	1,677,180

₇₇

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Tryg A/S	41,405	1,267,186
Vestas Wind Systems A/S	68,294	6,179,505
		85,945,982

Finland 1.0%
Elisa Oyj	53,323	2,262,503
Fortum Oyj	153,965	3,265,677
Kone Oyj, Class B	119,103	6,544,497
Metso Oyj	39,488	1,477,532
Neste Oyj	140,742	4,651,900
Nokia Oyj	2,028,474	10,658,844
Nokian Renkaat Oyj (a)	39,792	1,333,819
Orion Oyj, Class B	35,239	1,175,026
Sampo Oyj, A Shares	158,353	7,250,687
Stora Enso Oyj, R Shares	203,211	2,530,691
UPM-Kymmene Oyj	188,739	5,329,010
Wartsila Oyj Abp	155,462	2,489,329
		48,969,515

France 11.3%
Accor S.A.	64,908	2,734,400
Aeroports de Paris	10,344	2,107,203
Air Liquide S.A.	152,002	20,221,104
Airbus SE	207,304	28,386,064
Alstom S.A.	56,332	2,478,448
Amundi S.A.	23,050	1,658,383
ArcelorMittal	231,606	5,038,838
Arkema S.A.	24,689	2,534,982
Atos SE	33,660	3,470,708
AXA S.A. (a)	697,173	18,591,197
BioMerieux	14,251	1,131,874
BNP Paribas S.A.	398,531	21,215,037
Bollore S.A.	330,240	1,570,881
Bouygues S.A.	76,170	2,867,219
Bureau Veritas S.A.	94,004	2,382,878
Capgemini SE	56,175	6,817,076
Carrefour S.A.	208,943	4,070,670
Casino Guichard Perrachon S.A. (a)	19,672	805,341
CNP Assurances	66,187	1,563,387
Compagnie de Saint-Gobain	176,136	7,221,567
Compagnie Generale des Etablissements Michelin	60,387	7,808,674
Covivio	15,464	1,673,738
Credit Agricole S.A.	417,089	5,727,485
Danone S.A.	218,672	17,678,531
Dassault Aviation S.A.	862	1,304,240
Dassault Systemes SE	46,169	7,311,460
Edenred	87,803	4,139,714
Eiffage S.A.	27,028	2,822,026
Electricite de France S.A.	207,352	2,994,564
Engie S.A.	650,944	9,661,639
EssilorLuxottica S.A.	103,135	12,565,824
Eurazeo SE	16,045	1,259,288
Eurofins Scientific SE (a)	4,173	1,910,933
Eutelsat Communications S.A.	66,475	1,201,391
Faurecia S.A.	26,264	1,336,352
Gecina S.A.	15,857	2,369,256
Getlink SE	174,217	2,804,185
Hermes International	11,356	7,989,700
ICADE (a)	12,019	1,027,215
Iliad S.A.	9,225	939,816
Imerys S.A.	12,595	670,729
Ingenico Group S.A.	21,307	1,798,314
Ipsen S.A.	12,924	1,509,393
JCDecaux S.A.	26,452	866,322
Kering S.A.	26,897	15,916,418

Security	Number of Shares	Value ($)
Klepierre S.A.	75,290	2,675,356
L'Oreal S.A.	89,772	24,692,010
Legrand S.A.	93,968	6,911,618
LVMH Moet Hennessy Louis Vuitton SE	98,904	38,831,401
Natixis S.A.	333,026	1,962,436
Orange S.A.	718,274	11,225,582
Pernod-Ricard S.A.	75,471	13,159,650
Peugeot S.A.	210,816	5,527,359
Publicis Groupe S.A.	77,395	4,600,075
Remy Cointreau S.A.	8,794	1,171,767
Renault S.A.	69,452	4,738,459
Rexel S.A.	115,678	1,555,163
Safran S.A.	118,572	17,283,195
Sanofi	401,887	35,064,346
Sartorius Stedim Biotech	10,647	1,446,125
Schneider Electric SE	195,527	16,548,619
SCOR SE	57,470	2,346,189
SEB S.A.	8,571	1,570,303
SES S.A.	125,314	2,132,178
Societe BIC S.A.	8,402	723,802
Societe Generale S.A.	270,785	8,587,003
Sodexo S.A.	31,360	3,596,480
STMicroelectronics N.V.	248,459	4,562,880
Suez	130,676	1,835,743
Teleperformance	20,312	3,904,792
Thales S.A.	36,825	4,399,758
TOTAL S.A.	862,757	47,961,318
UbiSoft Entertainment S.A. *	30,606	2,924,042
Unibail-Rodamco-Westfield	49,964	8,588,076
Valeo S.A.	82,670	3,006,933
Veolia Environnement S.A.	196,608	4,650,264
Vinci S.A.	180,282	18,207,809
Vivendi S.A.	370,296	10,748,155
Wendel S.A.	9,974	1,381,497
		570,674,847

Germany 8.3%
1&1 Drillisch AG	22,004	820,353
adidas AG	64,050	16,498,510
Allianz SE	150,664	36,417,615
Aroundtown S.A.	267,854	2,176,187
Axel Springer SE	19,440	1,101,074
BASF SE	329,591	26,908,119
Bayer AG	333,716	22,210,728
Bayerische Motoren Werke AG	117,932	10,060,593
Beiersdorf AG	35,665	3,902,492
Brenntag AG	55,196	2,975,292
Commerzbank AG *	370,143	3,336,244
Continental AG	38,818	6,439,547
Covestro AG	66,614	3,660,279
Daimler AG	323,396	21,226,412
Delivery Hero SE *	35,935	1,656,121
Deutsche Bank AG	707,828	5,869,645
Deutsche Boerse AG	67,785	9,057,592
Deutsche Lufthansa AG	82,784	2,002,854
Deutsche Post AG	352,072	12,238,172
Deutsche Telekom AG	1,189,031	19,922,096
Deutsche Wohnen SE	125,104	5,635,366
E.ON SE	784,803	8,437,985
Evonik Industries AG	55,366	1,652,822
Fraport AG Frankfurt Airport Services Worldwide	14,981	1,247,095
Fresenius Medical Care AG & Co. KGaA	77,604	6,540,731
Fresenius SE & Co. KGaA	148,961	8,470,652
GEA Group AG	54,682	1,532,062

₇₈

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Hannover Rueck SE	21,566	3,256,677
HeidelbergCement AG	52,277	4,230,258
Henkel AG & Co. KGaA	37,261	3,553,166
HOCHTIEF AG	8,918	1,333,320
Hugo Boss AG	21,183	1,480,144
Infineon Technologies AG	405,580	9,614,516
Innogy SE	48,339	2,244,044
KION Group AG	24,718	1,700,416
LANXESS AG	30,711	1,778,439
Merck KGaA	45,929	4,895,595
METRO AG	65,086	1,105,910
MTU Aero Engines AG	18,619	4,392,775
Muenchener Rueckversicherungs-Gesellschaft AG	53,671	13,356,234
OSRAM Licht AG	34,355	1,181,640
ProSiebenSat.1 Media SE	82,277	1,300,680
Puma SE	3,030	1,874,245
QIAGEN N.V. *	82,573	3,197,297
RTL Group S.A.	13,511	761,319
RWE AG	181,355	4,651,763
SAP SE	351,145	45,265,505
Siemens AG	273,514	32,794,935
Siemens Healthineers AG	51,357	2,198,297
Symrise AG	43,850	4,214,913
Telefonica Deutschland Holding AG	301,657	979,829
ThyssenKrupp AG	148,752	2,097,199
Uniper SE	69,192	2,099,522
United Internet AG	42,877	1,723,864
Volkswagen AG	11,794	2,114,628
Vonovia SE	176,019	8,796,811
Wirecard AG	41,039	6,199,654
Zalando SE *	41,332	1,944,254
		418,334,487

Hong Kong 4.0%
AIA Group Ltd.	4,306,400	44,095,105
ASM Pacific Technology Ltd.	109,100	1,265,453
BeiGene Ltd. ADR *	11,258	1,398,581
BOC Hong Kong (Holdings) Ltd.	1,310,500	5,873,933
CK Asset Holdings Ltd.	905,525	7,280,909
CK Hutchison Holdings Ltd.	962,525	10,119,901
CK Infrastructure Holdings Ltd.	223,000	1,808,423
CLP Holdings Ltd.	588,080	6,674,510
Dairy Farm International Holdings Ltd.	116,800	914,965
Galaxy Entertainment Group Ltd.	842,000	6,305,933
Hang Lung Group Ltd.	324,000	966,299
Hang Lung Properties Ltd.	735,000	1,729,988
Hang Seng Bank Ltd.	268,336	7,050,156
Henderson Land Development Co., Ltd.	466,123	2,872,786
HK Electric Investments & HK Electric Investments Ltd.	931,500	912,811
HKT Trust & HKT Ltd.	1,286,000	1,993,392
Hong Kong & China Gas Co., Ltd.	3,251,328	7,761,759
Hong Kong Exchanges & Clearing Ltd.	425,313	14,774,865
Hongkong Land Holdings Ltd.	425,100	2,968,004
Hysan Development Co., Ltd.	208,000	1,165,784
Jardine Matheson Holdings Ltd.	78,400	5,161,078
Jardine Strategic Holdings Ltd.	76,500	2,893,930
Kerry Properties Ltd.	217,500	930,980
Link REIT	756,000	8,833,070
Melco Resorts & Entertainment Ltd. ADR	89,178	2,238,368

Security	Number of Shares	Value ($)
MGM China Holdings Ltd.	331,600	684,544
Minth Group Ltd. (a)	262,000	828,308
MTR Corp., Ltd.	539,842	3,216,070
New World Development Co., Ltd.	2,140,113	3,545,548
NWS Holdings Ltd.	603,000	1,253,955
PCCW Ltd.	1,551,000	935,221
Power Assets Holdings Ltd.	490,500	3,421,321
Sands China Ltd.	886,000	4,876,687
Shangri-La Asia Ltd.	448,000	635,167
Sino Land Co., Ltd.	1,219,765	2,145,634
SJM Holdings Ltd.	706,000	853,691
Sun Hung Kai Properties Ltd.	570,104	9,839,048
Swire Pacific Ltd., Class A	181,090	2,293,226
Swire Properties Ltd.	436,000	1,774,220
Techtronic Industries Co., Ltd.	487,000	3,524,175
The Bank of East Asia Ltd.	474,569	1,497,980
The Wharf Holdings Ltd.	459,100	1,319,438
WH Group Ltd.	3,061,000	3,621,815
Wharf Real Estate Investment Co., Ltd.	436,100	3,342,393
Wheelock & Co., Ltd.	298,000	2,123,671
Wynn Macau Ltd.	548,000	1,576,690
Yue Yuen Industrial Holdings Ltd.	291,500	941,539
		202,241,324

Ireland 0.6%
AIB Group plc	300,432	1,395,768
Bank of Ireland Group plc	329,525	2,106,493
CRH plc	292,453	9,838,325
Kerry Group plc, Class A	55,850	6,251,611
Kingspan Group plc	53,413	2,808,490
Paddy Power Betfair plc	28,684	2,402,604
Ryanair Holdings plc *	51,137	684,535
Smurfit Kappa Group plc	77,382	2,269,176
		27,757,002

Israel 0.5%
Azrieli Group Ltd.	15,758	897,776
Bank Hapoalim B.M.	372,290	2,740,728
Bank Leumi Le-Israel B.M.	529,019	3,622,691
Bezeq The Israeli Telecommunication Corp., Ltd.	671,659	459,463
Check Point Software Technologies Ltd. *	44,648	5,391,693
Elbit Systems Ltd.	8,807	1,227,692
Israel Chemicals Ltd.	255,462	1,356,449
Mizrahi Tefahot Bank Ltd.	46,535	1,007,347
Nice Ltd. *	22,157	3,052,253
Teva Pharmaceutical Industries Ltd. ADR *	340,842	5,187,615
Wix.com Ltd. *	15,258	2,047,013
		26,990,720

Italy 2.3%
Assicurazioni Generali S.p.A.	413,830	8,029,146
Atlantia S.p.A.	181,509	4,955,328
CNH Industrial N.V.	351,727	3,823,934
Davide Campari-Milano S.p.A.	205,341	2,071,476
Enel S.p.A.	2,886,207	18,275,930
Eni S.p.A.	902,621	15,381,690
EXOR N.V.	41,064	2,738,257
Ferrari N.V.	43,418	5,888,850
Fiat Chrysler Automobiles N.V.	390,523	6,018,504
Intesa Sanpaolo S.p.A.	5,316,334	13,928,882
Leonardo S.p.A.	137,608	1,591,410

₇₉

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Mediobanca S.p.A.	233,687	2,476,920
Moncler S.p.A.	62,121	2,554,059
Pirelli & C S.p.A. *	144,810	1,058,615
Poste Italiane S.p.A	176,756	1,889,064
Prysmian S.p.A.	84,797	1,637,301
Recordati S.p.A.	36,452	1,472,943
Snam S.p.A.	801,156	4,078,593
Telecom Italia S.p.A. *	3,909,262	2,188,308
Telecom Italia S.p.A. - RSP	2,225,747	1,162,224
Tenaris S.A.	166,430	2,307,026
Terna - Rete Elettrica Nationale S.p.A.	503,205	3,018,808
UniCredit S.p.A.	720,932	9,980,658
		116,527,926

Japan 23.6%
ABC-Mart, Inc.	11,880	738,340
Acom Co., Ltd.	128,700	452,264
Aeon Co., Ltd.	215,100	3,976,458
AEON Financial Service Co., Ltd.	38,700	803,471
Aeon Mall Co., Ltd.	33,600	515,859
AGC, Inc.	63,500	2,166,480
Air Water, Inc.	50,900	776,410
Aisin Seiki Co., Ltd.	56,000	2,166,355
Ajinomoto Co., Inc.	156,800	2,536,949
Alfresa Holdings Corp.	68,500	1,911,419
Alps Alpine Co., Ltd.	77,500	1,639,029
Amada Holdings Co., Ltd.	120,700	1,353,058
ANA Holdings, Inc.	39,000	1,364,872
Aozora Bank Ltd.	42,200	1,031,095
Asahi Group Holdings Ltd.	128,100	5,585,580
Asahi Intecc Co., Ltd.	36,800	1,864,250
Asahi Kasei Corp.	447,600	4,613,128
Asics Corp.	55,200	680,052
Astellas Pharma, Inc.	674,150	9,130,599
Bandai Namco Holdings, Inc.	72,400	3,470,917
Benesse Holdings, Inc.	29,700	821,141
Bridgestone Corp.	221,057	8,769,414
Brother Industries Ltd.	84,600	1,670,424
Calbee, Inc.	31,900	883,322
Canon, Inc.	355,895	9,875,397
Casio Computer Co., Ltd.	65,000	818,753
Central Japan Railway Co.	51,400	11,053,022
Chubu Electric Power Co., Inc.	209,900	3,052,268
Chugai Pharmaceutical Co., Ltd.	79,300	5,028,918
Coca-Cola Bottlers Japan Holdings, Inc.	47,200	1,165,463
Concordia Financial Group Ltd.	382,800	1,494,489
Credit Saison Co., Ltd.	56,400	721,614
CyberAgent, Inc.	34,800	1,394,930
Dai Nippon Printing Co., Ltd.	84,300	2,001,116
Dai-ichi Life Holdings, Inc.	377,300	5,446,254
Daicel Corp.	87,700	983,876
Daifuku Co., Ltd.	35,700	2,196,288
Daiichi Sankyo Co., Ltd.	204,200	10,096,553
Daikin Industries Ltd.	89,600	11,407,825
Daito Trust Construction Co., Ltd.	24,900	3,334,194
Daiwa House Industry Co., Ltd.	199,000	5,577,870
Daiwa House REIT Investment Corp.	677	1,554,580
Daiwa Securities Group, Inc.	588,900	2,741,230
Dena Co., Ltd.	39,500	616,863
Denso Corp.	151,600	6,624,161
Dentsu, Inc.	76,000	3,109,935
Disco Corp.	9,700	1,678,553
East Japan Railway Co.	110,360	10,400,529
Eisai Co., Ltd.	90,700	5,281,522
Electric Power Development Co., Ltd.	55,600	1,292,446

Security	Number of Shares	Value ($)
FamilyMart UNY Holdings Co., Ltd.	92,900	2,477,325
Fanuc Corp.	69,600	13,076,129
Fast Retailing Co., Ltd.	20,800	12,034,679
Fuji Electric Co., Ltd.	50,200	1,779,640
FUJIFILM Holdings Corp.	138,311	6,461,373
Fujitsu Ltd.	69,500	5,102,314
Fukuoka Financial Group, Inc.	57,100	1,332,843
Hakuhodo DY Holdings, Inc.	80,200	1,356,015
Hamamatsu Photonics K.K.	48,300	1,965,879
Hankyu Hanshin Holdings, Inc.	84,900	3,174,159
Hikari Tsushin, Inc.	7,400	1,372,025
Hino Motors Ltd.	91,400	866,516
Hirose Electric Co., Ltd.	10,564	1,224,365
Hisamitsu Pharmaceutical Co., Inc.	20,200	859,206
Hitachi Chemical Co., Ltd.	35,300	941,516
Hitachi Construction Machinery Co., Ltd.	36,700	985,526
Hitachi High-Technologies Corp.	23,600	1,051,898
Hitachi Ltd.	345,815	11,501,193
Hitachi Metals Ltd.	70,900	819,520
Honda Motor Co., Ltd.	577,439	16,112,241
Hoshizaki Corp.	18,400	1,192,918
Hoya Corp.	137,507	9,711,792
Hulic Co., Ltd.	103,700	894,636
Idemitsu Kosan Co., Ltd.	74,803	2,430,498
IHI Corp.	50,000	1,193,671
Iida Group Holdings Co., Ltd.	48,900	828,633
Inpex Corp.	354,400	3,447,892
Isetan Mitsukoshi Holdings Ltd.	114,700	1,093,389
Isuzu Motors Ltd.	195,000	2,808,534
ITOCHU Corp.	475,200	8,574,247
J. Front Retailing Co., Ltd.	80,700	986,063
Japan Airlines Co., Ltd.	39,400	1,284,967
Japan Airport Terminal Co., Ltd.	15,900	672,386
Japan Exchange Group, Inc.	184,500	3,012,812
Japan Post Bank Co., Ltd.	149,700	1,648,246
Japan Post Holdings Co., Ltd.	569,100	6,373,717
Japan Prime Realty Investment Corp.	277	1,107,488
Japan Real Estate Investment Corp.	468	2,594,198
Japan Retail Fund Investment Corp.	937	1,790,447
Japan Tobacco, Inc.	391,600	9,048,943
JFE Holdings, Inc.	173,100	2,978,678
JGC Corp.	77,200	1,112,333
JSR Corp.	66,800	1,019,268
JTEKT Corp.	68,100	878,470
JXTG Holdings, Inc.	1,137,500	5,534,152
Kajima Corp.	160,300	2,379,188
Kakaku.com, Inc.	54,000	1,112,535
Kamigumi Co., Ltd.	40,300	962,711
Kaneka Corp.	17,600	679,618
Kansai Paint Co., Ltd.	67,500	1,286,980
Kao Corp.	172,719	13,333,464
Kawasaki Heavy Industries Ltd.	53,500	1,249,920
KDDI Corp.	630,000	14,519,952
Keihan Holdings Co., Ltd.	34,400	1,464,960
Keikyu Corp.	81,200	1,387,374
Keio Corp.	35,300	2,131,386
Keisei Electric Railway Co., Ltd.	48,100	1,687,139
Keyence Corp.	34,500	21,555,373
Kikkoman Corp.	50,000	2,328,258
Kintetsu Group Holdings Co., Ltd.	58,500	2,600,239
Kirin Holdings Co., Ltd.	290,600	6,610,704
Kobayashi Pharmaceutical Co., Ltd.	16,800	1,339,787
Kobe Steel Ltd.	108,500	830,890
Koito Manufacturing Co., Ltd.	39,000	2,335,348
Komatsu Ltd.	326,309	8,428,691
Konami Holdings Corp.	34,000	1,548,213
Konica Minolta, Inc.	166,400	1,670,927

₈₀

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Kose Corp.	11,100	2,079,317
Kubota Corp.	350,100	5,330,359
Kuraray Co., Ltd.	121,500	1,632,443
Kurita Water Industries Ltd.	37,700	981,374
Kyocera Corp.	116,400	7,564,189
Kyowa Hakko Kirin Co., Ltd.	88,500	1,721,615
Kyushu Electric Power Co., Inc.	134,100	1,298,651
Kyushu Railway Co.	56,800	1,850,784
Lawson, Inc.	18,000	840,422
LINE Corp. *	26,000	871,115
Lion Corp.	81,300	1,673,503
LIXIL Group Corp.	88,200	1,152,287
M3, Inc.	151,500	2,704,529
Makita Corp.	78,900	2,878,541
Marubeni Corp.	562,900	4,033,508
Marui Group Co., Ltd.	63,900	1,299,793
Maruichi Steel Tube Ltd.	20,600	569,524
Mazda Motor Corp.	206,800	2,447,468
McDonald's Holdings Co., Ltd.	23,600	1,092,881
Mebuki Financial Group, Inc.	286,480	730,406
Medipal Holdings Corp.	60,000	1,349,179
MEIJI Holdings Co., Ltd.	43,600	3,436,812
Minebea Mitsumi, Inc.	143,100	2,552,132
MISUMI Group, Inc.	99,600	2,600,665
Mitsubishi Chemical Holdings Corp.	464,800	3,313,860
Mitsubishi Corp.	480,400	13,233,903
Mitsubishi Electric Corp.	656,600	9,395,901
Mitsubishi Estate Co., Ltd.	428,702	7,249,325
Mitsubishi Gas Chemical Co., Inc.	58,400	876,750
Mitsubishi Heavy Industries Ltd.	107,700	4,488,401
Mitsubishi Materials Corp.	40,600	1,055,972
Mitsubishi Motors Corp.	230,900	1,296,628
Mitsubishi Tanabe Pharma Corp.	89,500	1,126,545
Mitsubishi UFJ Financial Group, Inc.	4,182,109	20,749,639
Mitsubishi UFJ Lease & Finance Co., Ltd.	144,700	737,815
Mitsui & Co., Ltd.	583,300	9,434,636
Mitsui Chemicals, Inc.	64,100	1,575,700
Mitsui Fudosan Co., Ltd.	322,877	7,478,452
Mitsui O.S.K. Lines Ltd.	39,300	1,000,319
Mizuho Financial Group, Inc.	8,617,934	13,458,864
MonotaRO Co., Ltd.	49,800	1,146,772
MS&AD Insurance Group Holdings, Inc.	168,662	5,242,638
Murata Manufacturing Co., Ltd.	190,100	9,545,615
Nabtesco Corp.	40,600	1,244,954
Nagoya Railroad Co., Ltd.	64,200	1,740,139
NEC Corp.	94,400	3,188,175
Nexon Co., Ltd. *	157,300	2,239,196
NGK Insulators Ltd.	91,200	1,354,666
NGK Spark Plug Co., Ltd.	52,100	1,015,847
NH Foods Ltd.	35,300	1,422,636
Nidec Corp.	81,500	11,641,342
Nikon Corp.	111,000	1,547,982
Nintendo Co., Ltd.	40,439	13,927,820
Nippon Building Fund, Inc.	488	3,142,430
Nippon Electric Glass Co., Ltd.	29,800	818,874
Nippon Express Co., Ltd.	26,400	1,451,828
Nippon Paint Holdings Co., Ltd.	50,400	1,919,546
Nippon Prologis REIT, Inc.	588	1,262,715
Nippon Steel Corp.	283,941	5,078,790
Nippon Telegraph & Telephone Corp.	226,656	9,430,792
Nippon Yusen K.K.	51,500	880,027
Nissan Chemical Corp.	46,100	2,053,824
Nissan Motor Co., Ltd.	825,396	6,626,312
Nisshin Seifun Group, Inc.	72,700	1,695,204
Nissin Foods Holdings Co., Ltd.	22,500	1,489,083
Nitori Holdings Co., Ltd.	28,300	3,376,263

Security	Number of Shares	Value ($)
Nitto Denko Corp.	59,500	3,217,000
Nomura Holdings, Inc.	1,220,800	4,622,215
Nomura Real Estate Holdings, Inc.	47,800	1,016,479
Nomura Real Estate Master Fund, Inc.	1,342	1,966,342
Nomura Research Institute Ltd.	40,300	1,972,641
NSK Ltd.	116,800	1,213,979
NTT Data Corp.	229,300	2,673,867
NTT DOCOMO, Inc.	475,500	10,325,757
Obayashi Corp.	223,700	2,199,106
Obic Co., Ltd.	22,800	2,646,974
Odakyu Electric Railway Co., Ltd.	103,100	2,428,521
Oji Holdings Corp.	304,000	1,824,143
Olympus Corp.	426,000	4,781,256
Omron Corp.	70,300	3,776,097
Ono Pharmaceutical Co., Ltd.	134,700	2,530,370
Oracle Corp., Japan	13,000	891,380
Oriental Land Co., Ltd.	72,400	8,008,083
ORIX Corp.	469,000	6,643,775
Osaka Gas Co., Ltd.	130,600	2,415,958
Otsuka Corp.	35,800	1,408,122
Otsuka Holdings Co., Ltd.	137,100	4,901,267
Pan Pacific International Holdings Corp.	40,800	2,629,326
Panasonic Corp.	798,812	7,355,615
Park24 Co., Ltd.	39,000	820,540
Persol Holdings Co., Ltd.	69,000	1,300,609
Pigeon Corp.	43,500	1,862,481
Pola Orbis Holdings, Inc.	32,200	1,016,420
Rakuten, Inc.	296,120	3,312,845
Recruit Holdings Co., Ltd.	397,000	11,955,202
Renesas Electronics Corp. *	304,300	1,629,735
Resona Holdings, Inc.	721,400	3,062,429
Ricoh Co., Ltd.	237,400	2,401,764
Rinnai Corp.	12,200	823,060
Rohm Co., Ltd.	32,700	2,411,309
Ryohin Keikaku Co., Ltd.	8,100	1,545,026
Sankyo Co., Ltd.	16,700	659,539
Santen Pharmaceutical Co., Ltd.	133,000	2,031,668
SBI Holdings, Inc.	85,590	1,835,168
Secom Co., Ltd.	75,100	6,318,259
Sega Sammy Holdings, Inc.	57,400	727,050
Seibu Holdings, Inc.	76,700	1,248,558
Seiko Epson Corp.	94,800	1,520,498
Sekisui Chemical Co., Ltd.	136,200	2,186,486
Sekisui House Ltd.	221,800	3,576,141
Seven & i Holdings Co., Ltd.	265,203	9,177,958
Seven Bank Ltd.	211,400	575,098
SG Holdings Co., Ltd.	34,100	913,162
Sharp Corp.	83,400	930,368
Shimadzu Corp.	77,000	2,065,392
Shimamura Co., Ltd.	7,700	574,143
Shimano, Inc.	26,100	3,836,265
Shimizu Corp.	196,600	1,683,932
Shin-Etsu Chemical Co., Ltd.	130,660	12,376,700
Shinsei Bank Ltd. *	52,100	726,498
Shionogi & Co., Ltd.	96,600	5,642,696
Shiseido Co., Ltd.	134,100	10,548,034
Showa Denko K.K.	47,400	1,618,238
SMC Corp.	20,700	8,645,659
Softbank Corp.	607,300	7,149,318
SoftBank Group Corp.	294,800	31,258,034
Sohgo Security Services Co., Ltd.	25,300	1,130,433
Sompo Holdings, Inc.	110,900	4,185,716
Sony Corp.	450,500	22,690,829
Sony Financial Holdings, Inc.	59,700	1,227,494
Stanley Electric Co., Ltd.	48,500	1,314,983
Subaru Corp.	218,100	5,344,528

₈₁

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Sumco Corp.	91,200	1,203,097
Sumitomo Chemical Co., Ltd.	537,600	2,682,087
Sumitomo Corp.	423,800	6,074,251
Sumitomo Dainippon Pharma Co., Ltd.	57,400	1,268,143
Sumitomo Electric Industries Ltd.	259,200	3,448,833
Sumitomo Heavy Industries Ltd.	37,400	1,329,843
Sumitomo Metal Mining Co., Ltd.	84,900	2,670,432
Sumitomo Mitsui Financial Group, Inc.	472,246	17,164,348
Sumitomo Mitsui Trust Holdings, Inc.	114,600	3,998,527
Sumitomo Realty & Development Co., Ltd.	127,300	4,706,288
Sumitomo Rubber Industries Ltd.	59,100	726,713
Sundrug Co., Ltd.	25,100	672,944
Suntory Beverage & Food Ltd.	48,200	2,131,364
Suzuken Co., Ltd.	25,300	1,458,808
Suzuki Motor Corp.	123,500	5,635,756
Sysmex Corp.	58,600	3,357,901
T&D Holdings, Inc.	191,300	2,071,987
Taiheiyo Cement Corp.	43,000	1,386,698
Taisei Corp.	76,200	3,352,806
Taisho Pharmaceutical Holdings Co., Ltd.	13,900	1,285,752
Taiyo Nippon Sanso Corp.	44,900	748,109
Takashimaya Co., Ltd.	46,800	526,228
Takeda Pharmaceutical Co., Ltd.	525,090	19,376,727
TDK Corp.	44,800	3,925,110
Teijin Ltd.	59,400	1,021,806
Terumo Corp.	215,200	6,494,445
The Bank of Kyoto Ltd.	18,800	814,689
The Chiba Bank Ltd.	204,000	1,071,494
The Chugoku Electric Power Co., Inc.	99,200	1,184,409
The Kansai Electric Power Co., Inc.	258,700	3,129,818
The Shizuoka Bank Ltd.	164,200	1,261,689
The Yokohama Rubber Co., Ltd.	43,000	810,238
THK Co., Ltd.	44,300	1,171,462
Tobu Railway Co., Ltd.	66,700	1,888,693
Toho Co., Ltd.	39,500	1,658,774
Toho Gas Co., Ltd.	25,400	1,047,235
Tohoku Electric Power Co., Inc.	155,800	1,783,501
Tokio Marine Holdings, Inc.	232,499	11,779,625
Tokyo Century Corp.	15,400	712,251
Tokyo Electric Power Co. Holdings, Inc. *	531,990	3,004,879
Tokyo Electron Ltd.	55,800	8,857,324
Tokyo Gas Co., Ltd.	132,540	3,372,101
Tokyu Corp.	179,300	2,927,177
Tokyu Fudosan Holdings Corp.	214,600	1,210,740
Toppan Printing Co., Ltd.	93,400	1,515,980
Toray Industries, Inc.	479,700	3,282,623
Toshiba Corp.	235,917	7,861,114
Tosoh Corp.	98,500	1,588,178
TOTO Ltd.	48,700	2,064,286
Toyo Seikan Group Holdings Ltd.	59,300	1,189,037
Toyo Suisan Kaisha Ltd.	30,800	1,176,078
Toyoda Gosei Co., Ltd.	23,300	485,041
Toyota Industries Corp.	56,900	3,225,303
Toyota Motor Corp.	815,903	50,512,916
Toyota Tsusho Corp.	75,700	2,514,431
Trend Micro, Inc.	42,000	2,099,659
Tsuruha Holdings, Inc.	12,700	1,082,368
Unicharm Corp.	142,100	4,689,557
United Urban Investment Corp.	1,092	1,743,429
USS Co., Ltd.	82,300	1,579,816
Welcia Holdings Co., Ltd.	16,400	646,452
West Japan Railway Co.	57,500	4,276,498

Security	Number of Shares	Value ($)
Yahoo Japan Corp.	1,001,300	2,672,939
Yakult Honsha Co., Ltd.	41,200	2,812,952
Yamada Denki Co., Ltd.	219,600	1,040,998
Yamaguchi Financial Group, Inc.	67,000	495,713
Yamaha Corp.	47,500	2,466,314
Yamaha Motor Co., Ltd.	96,900	1,998,273
Yamato Holdings Co., Ltd.	110,800	2,406,983
Yamazaki Baking Co., Ltd.	41,200	613,766
Yaskawa Electric Corp.	87,600	3,261,155
Yokogawa Electric Corp.	84,100	1,761,143
ZOZO, Inc.	67,500	1,199,033
		1,185,649,284

Netherlands 3.6%
ABN AMRO Group N.V. CVA	150,467	3,543,841
Adyen N.V. *	3,811	3,105,957
Aegon N.V.	666,880	3,481,214
AerCap Holdings N.V. *	45,580	2,262,591
Akzo Nobel N.V.	79,936	6,791,805
ASML Holding N.V.	146,339	30,557,159
Coca-Cola European Partners plc *	78,041	4,182,217
Heineken Holding N.V.	40,473	4,120,312
Heineken N.V.	92,415	9,990,740
ING Groep N.V.	1,394,369	17,792,184
Koninklijke Ahold Delhaize N.V.	426,790	10,286,315
Koninklijke DSM N.V.	64,478	7,374,455
Koninklijke KPN N.V.	1,183,127	3,636,168
Koninklijke Philips N.V.	328,408	14,103,062
Koninklijke Vopak N.V.	23,616	1,054,526
NN Group N.V.	108,701	4,743,672
NXP Semiconductors N.V.	121,021	12,782,238
Randstad N.V.	41,762	2,388,420
Unilever N.V. CVA	550,616	33,314,779
Wolters Kluwer N.V.	98,698	6,888,871
		182,400,526

New Zealand 0.2%
a2 Milk Co., Ltd. *	271,614	3,053,376
Auckland International Airport Ltd.	352,489	1,876,535
Fisher & Paykel Healthcare Corp., Ltd.	213,767	2,261,410
Fletcher Building Ltd.	296,856	1,022,764
Meridian Energy Ltd.	422,027	1,146,386
Ryman Healthcare Ltd.	142,738	1,159,151
Spark New Zealand Ltd. (a)	628,248	1,541,515
		12,061,137

Norway 0.7%
Aker BP A.S.A.	36,170	1,193,880
DNB A.S.A.	340,419	6,545,985
Equinor A.S.A.	408,051	9,096,121
Gjensidige Forsikring A.S.A.	75,317	1,464,606
Mowi A.S.A. *	157,684	3,421,032
Norsk Hydro A.S.A.	484,158	2,085,308
Orkla A.S.A.	302,634	2,375,234
Schibsted A.S.A., B Shares	37,970	908,381
Telenor A.S.A.	259,382	5,214,060
Yara International A.S.A.	65,698	2,970,471
		35,275,078

Portugal 0.2%
Banco Espirito Santo S.A. *(b)	470,491	—
EDP - Energias de Portugal S.A.	935,585	3,550,233

₈₂

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Galp Energia, SGPS, S.A.	177,836	2,981,645
Jeronimo Martins, SGPS, S.A.	86,083	1,401,917
		7,933,795

Singapore 1.4%
Ascendas Real Estate Investment Trust	981,900	2,168,989
CapitaLand Commercial Trust	876,700	1,252,537
CapitaLand Ltd.	877,800	2,281,062
CapitaLand Mall Trust	949,300	1,690,312
City Developments Ltd.	139,100	915,581
ComfortDelGro Corp., Ltd.	750,800	1,487,097
DBS Group Holdings Ltd.	641,646	13,343,308
Genting Singapore Ltd.	2,174,400	1,576,695
Golden Agri-Resources Ltd.	2,252,500	478,931
Jardine Cycle & Carriage Ltd.	35,600	930,241
Keppel Corp., Ltd.	555,500	2,768,281
Oversea-Chinese Banking Corp., Ltd.	1,137,706	10,134,965
SATS Ltd.	251,300	966,509
Sembcorp Industries Ltd.	337,200	659,443
Singapore Airlines Ltd.	199,700	1,422,928
Singapore Exchange Ltd.	293,100	1,591,437
Singapore Press Holdings Ltd.	542,400	1,002,462
Singapore Technologies Engineering Ltd.	536,500	1,563,364
Singapore Telecommunications Ltd.	2,867,237	6,688,814
Suntec Real Estate Investment Trust	763,800	1,038,918
United Overseas Bank Ltd.	482,033	9,871,297
UOL Group Ltd.	166,967	931,886
Venture Corp., Ltd.	95,200	1,193,918
Wilmar International Ltd.	673,900	1,802,266
Yangzijiang Shipbuilding Holdings Ltd.	842,600	974,207
		68,735,448

Spain 3.0%
ACS Actividades de Construccion y Servicios S.A.	90,824	4,176,652
Aena SME S.A.	23,535	4,369,690
Amadeus IT Group S.A.	156,193	12,448,057
Banco Bilbao Vizcaya Argentaria S.A.	2,394,132	14,558,354
Banco De Sabadell S.A.	1,986,788	2,313,286
Banco Santander S.A.	5,765,547	29,227,723
Bankia S.A.	484,796	1,342,722
Bankinter S.A.	233,346	1,865,180
CaixaBank S.A.	1,317,630	4,199,937
Enagas S.A.	79,388	2,264,570
Endesa S.A.	112,589	2,808,911
Ferrovial S.A.	180,478	4,450,521
Grifols S.A.	104,325	2,899,327
Iberdrola S.A.	2,204,463	20,032,814
Industria de Diseno Textil S.A.	392,349	11,879,781
Mapfre S.A.	369,050	1,108,695
Naturgy Energy Group S.A.	128,396	3,655,216
Red Electrica Corp. S.A.	152,093	3,156,519
Repsol S.A.	497,694	8,445,218
Siemens Gamesa Renewable Energy S.A.	83,038	1,491,400
Telefonica S.A.	1,661,264	13,850,542
		150,545,115

Sweden 2.7%
Alfa Laval AB	100,193	2,325,645
Assa Abloy AB, Class B	359,316	7,681,298

Security	Number of Shares	Value ($)
Atlas Copco AB, A Shares	239,837	7,486,345
Atlas Copco AB, B Shares	136,494	3,887,646
Boliden AB	97,186	2,892,248
Electrolux AB, B Shares	86,372	2,116,833
Epiroc AB, Class A *	237,285	2,452,957
Epiroc AB, Class B *	137,305	1,358,738
Essity AB, Class B	214,547	6,361,512
Hennes & Mauritz AB, B Shares	314,662	5,490,521
Hexagon AB, B Shares	91,374	4,991,961
Husqvarna AB, B Shares	154,895	1,414,250
ICA Gruppen AB	27,425	991,928
Industrivarden AB, C Shares	55,379	1,246,285
Investor AB, B Shares	161,828	7,717,848
Kinnevik AB, Class B	84,914	2,474,507
LE Lundbergfortagen AB, B Shares	28,402	971,408
Lundin Petroleum AB	67,414	2,195,418
Millicom International Cellular S.A. SDR *	22,945	1,342,099
Nordea Bank Abp	1,083,036	8,520,624
Sandvik AB	398,609	7,381,593
Securitas AB, B Shares	106,175	1,856,632
Skandinaviska Enskilda Banken AB, A Shares	571,276	5,454,316
Skanska AB, B Shares	119,749	2,085,329
SKF AB, B Shares	130,882	2,429,428
Svenska Handelsbanken AB, A Shares	549,543	6,002,707
Swedbank AB, A Shares	316,656	5,173,910
Swedish Match AB	63,050	3,074,291
Tele2 AB, B Shares	185,580	2,479,263
Telefonaktiebolaget LM Ericsson, B Shares	1,097,445	10,856,116
Telia Co. AB	1,014,244	4,321,212
Volvo AB, B Shares	556,905	8,925,196
		133,960,064

Switzerland 8.7%
ABB Ltd.	654,443	13,461,048
Adecco Group AG	55,359	3,180,539
Alcon, Inc. *	153,159	8,820,227
Baloise Holding AG	18,027	3,090,572
Barry Callebaut AG	830	1,521,842
Chocoladefabriken Lindt & Spruengli AG	37	2,806,909
Chocoladefabriken Lindt & Spruengli AG - Participation Certificates	385	2,558,616
Cie Financiere Richemont S.A.	186,922	13,664,436
Clariant AG *	70,720	1,455,023
Credit Suisse Group AG *	907,918	12,074,302
Dufry AG *	11,198	1,095,962
EMS-Chemie Holding AG	2,933	1,776,192
Geberit AG	13,424	5,628,802
Givaudan S.A.	3,289	8,516,223
Julius Baer Group Ltd. *	78,953	3,813,815
Kuehne & Nagel International AG	19,314	2,807,382
LafargeHolcim Ltd. *	171,081	8,782,860
Lonza Group AG *	26,293	8,120,044
Nestle S.A.	1,090,236	104,965,309
Novartis AG	772,976	63,337,704
Pargesa Holding S.A.	13,070	1,027,157
Partners Group Holding AG	6,109	4,607,803
Roche Holding AG	250,222	66,024,399
Schindler Holding AG	21,141	4,544,263
SGS S.A.	1,871	4,936,728
Sika AG	46,658	7,149,033
Sonova Holding AG	19,451	3,928,754

₈₃

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Straumann Holding AG	3,689	2,981,340
Swiss Life Holding AG *	12,086	5,681,971
Swiss Prime Site AG *	27,291	2,191,586
Swiss Re AG	110,477	10,636,482
Swisscom AG (a)	9,144	4,260,685
Temenos AG *	21,013	3,495,463
The Swatch Group AG	18,643	1,093,946
The Swatch Group AG - Bearer Shares	11,078	3,380,882
UBS Group AG *	1,384,592	18,566,625
Vifor Pharma AG	16,082	2,100,134
Zurich Insurance Group AG	53,716	17,122,927
		435,207,985

United Kingdom 16.8%
3i Group plc	338,002	4,729,466
Admiral Group plc	69,074	1,989,627
Anglo American plc	378,446	9,820,560
Antofagasta plc	147,159	1,749,392
Ashtead Group plc	169,367	4,702,853
Associated British Foods plc	130,474	4,358,141
AstraZeneca plc	452,642	33,721,739
Auto Trader Group plc	334,934	2,475,953
Aviva plc	1,367,558	7,680,379
Babcock International Group plc	88,680	608,757
BAE Systems plc	1,155,419	7,426,200
Barclays plc	6,098,988	13,088,459
Barratt Developments plc	355,943	2,800,147
BHP Group plc	749,397	17,689,187
BP plc	7,154,748	52,027,173
British American Tobacco plc	816,972	31,983,571
BT Group plc	3,027,638	9,034,511
Bunzl plc	120,810	3,643,762
Burberry Group plc	145,889	3,845,196
Carnival plc	60,193	3,191,108
Centrica plc	2,042,688	2,839,678
Coca-Cola HBC AG *	71,813	2,572,002
Compass Group plc	562,455	12,798,023
ConvaTec Group plc	459,155	831,618
Croda International plc	45,464	3,079,695
DCC plc	35,068	3,138,947
Diageo plc	867,085	36,554,329
Direct Line Insurance Group plc	479,254	2,062,253
easyJet plc	53,857	816,037
Experian plc	324,398	9,442,872
Ferguson plc	81,717	5,815,463
Fresnillo plc	73,923	724,023
G4S plc	598,639	1,691,939
GlaxoSmithKline plc	1,772,770	36,418,398
Glencore plc *	4,000,824	15,873,500
GVC Holdings plc	189,684	1,618,660
Hammerson plc	274,751	1,155,977
Hargreaves Lansdown plc	104,346	3,082,265
HSBC Holdings plc	7,142,303	62,230,634
Imperial Brands plc	339,655	10,807,203
Informa plc	456,703	4,643,772
InterContinental Hotels Group plc	60,501	3,918,656
Intertek Group plc	57,213	4,001,694
Investec plc	241,081	1,530,022
ITV plc	1,343,280	2,398,607
J. Sainsbury plc	664,952	1,931,842
John Wood Group plc	234,019	1,434,712
Johnson Matthey plc	66,634	2,906,869
Kingfisher plc	773,561	2,667,382
Land Securities Group plc	253,674	3,057,261
Legal & General Group plc	2,120,854	7,712,548
Lloyds Banking Group plc	25,360,025	20,740,318

Security	Number of Shares	Value ($)
London Stock Exchange Group plc	110,305	7,231,959
Marks & Spencer Group plc	570,793	2,129,205
Meggitt plc	273,939	1,949,301
Melrose Industries plc	1,772,402	4,689,684
Merlin Entertainments plc	247,676	1,184,409
Micro Focus International plc	124,049	3,144,530
Mondi plc	132,530	2,912,381
National Grid plc	1,222,282	13,391,234
Next plc	51,181	3,853,607
NMC Health plc	35,412	1,307,690
Pearson plc	284,312	3,079,921
Persimmon plc	114,778	3,352,992
Prudential plc	920,305	20,910,593
Reckitt Benckiser Group plc	237,772	19,237,284
RELX plc	699,065	16,061,455
Rio Tinto plc	409,773	23,905,775
Rolls-Royce Holdings plc *	607,154	7,270,994
Royal Bank of Scotland Group plc	1,747,374	5,471,609
Royal Dutch Shell plc, A Shares	1,608,482	51,248,533
Royal Dutch Shell plc, B Shares	1,332,009	42,988,389
Royal Mail plc	300,009	989,908
RSA Insurance Group plc	363,145	2,574,375
Schroders plc	45,614	1,887,823
Segro plc	390,992	3,464,416
Severn Trent plc	82,813	2,204,358
Smith & Nephew plc	315,678	6,102,839
Smiths Group plc	142,467	2,836,454
SSE plc	367,265	5,495,248
St. James's Place plc	179,909	2,640,224
Standard Chartered plc	998,467	9,129,156
Standard Life Aberdeen plc	891,463	3,248,062
Taylor Wimpey plc	1,130,736	2,680,757
Tesco plc	3,487,165	11,377,364
The Berkeley Group Holdings plc	45,035	2,209,265
The British Land Co., plc	338,078	2,623,036
The Sage Group plc	384,398	3,643,766
The Weir Group plc	86,864	1,887,979
TUI AG	165,147	1,838,984
Unilever plc	397,001	24,064,246
United Utilities Group plc	235,373	2,553,333
Vodafone Group plc	9,486,432	17,596,135
Whitbread plc	64,958	3,781,802
WM Morrison Supermarkets plc	766,512	2,160,507
WPP plc	444,367	5,544,720
		844,919,682
Total Common Stock
(Cost $4,127,349,315)		4,958,972,124

Preferred Stock 0.5% of net assets

Germany 0.5%
Bayerische Motoren Werke AG	19,919	1,472,826
Fuchs Petrolub SE	23,960	1,044,723
Henkel AG & Co. KGaA	64,681	6,546,573
Porsche Automobil Holding SE	54,523	3,790,310
Sartorius AG	12,798	2,349,765
Volkswagen AG	65,803	11,489,341
		26,693,538

United Kingdom 0.0%
Rolls Royce Group plc *(b)	43,107,934	56,212
Total Preferred Stock
(Cost $25,008,403)		26,749,750

₈₄

Schwab Equity Index Funds | Semiannual Report

See financial notes

Schwab International Index Fund

Portfolio Holdings as of April 30, 2019 (Unaudited) (continued)

Security	Number of Shares	Value ($)
Other Investment Company 0.3% of net assets

United States 0.3%
Securities Lending Collateral 0.3%
Wells Fargo Government Money Market Fund, Select Class 2.36% (c)	14,091,813	14,091,813
Total Other Investment Company
(Cost $14,091,813)		14,091,813
Security Rate, Maturity Date	Face Amount Local Currency	Value ($)
Short-Term Investments 0.2% of net assets

Time Deposits 0.2%
Barclays Capital, Inc.
Swiss Franc
(1.60%), 05/02/19 (d)	528,470	518,641
BNP Paribas
Euro
(0.58%), 05/02/19 (d)	1,034,979	1,160,833
U.S. Dollar
1.80%, 05/01/19 (d)	7,322,988	7,322,988
Brown Brothers Harriman
Australian Dollar
0.72%, 05/01/19 (d)	6,242	4,400
Danish Krone
(0.85%), 05/01/19 (d)	105,316	15,822
Hong Kong Dollar
1.04%, 05/02/19 (d)	118,500	15,106
New Zealand Dollar
1.10%, 05/01/19 (d)	54,892	36,662
Norwegian Krone
0.47%, 05/02/19 (d)	3,185,590	369,239
Singapore Dollar
0.89%, 05/02/19 (d)	5,694	4,186
Swedish Krona
(0.52%), 05/02/19 (d)	2,530,201	266,417
Citibank
Pound Sterling
0.37%, 05/01/19 (d)	225,356	293,865
Total Short-Term Investments
(Cost $10,008,159)		10,008,159

	Number of Contracts	Notional Amount ($)	Current Value/ Unrealized Appreciation ($)
Futures Contracts
Long
MSCI EAFE Index, expires 06/21/19	380	36,423,000	78,365

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $13,508,352.
(b)	Fair-valued by management using significant unobservable inputs in accordance with procedures approved by fund’s Board of Trustees.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the current daily overnight rate.

ADR —	American Depositary Receipt
CVA —	Dutch Certificate
REIT —	Real Estate Investment Trust
RSP —	Risparmio (Convertible Savings Shares)
SDR —	Swedish Depositary Receipt

₈₅

Schwab Equity Index Funds | Semiannual Report

See financial notes

Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Number of Holdings	507
Weighted Average Market Cap (millions)	$246,822
Price/Earnings Ratio (P/E)	20.3
Price/Book Ratio (P/B)	3.3
Portfolio Turnover Rate	1% ²

Number of Holdings	996 ²
Weighted Average Market Cap (millions)	$220,675
Price/Earnings Ratio (P/E)	20.4
Price/Book Ratio (P/B)	3.2
Portfolio Turnover Rate	2% ³

Number of Holdings	1,999
Weighted Average Market Cap (millions)	$2,508
Price/Earnings Ratio (P/E)	18.1
Price/Book Ratio (P/B)	2.1
Portfolio Turnover Rate	3% ²

Number of Holdings	3,068
Weighted Average Market Cap (millions)	$206,441
Price/Earnings Ratio (P/E)	20.1
Price/Book Ratio (P/B)	3.1
Portfolio Turnover Rate	1% ²

Number of Holdings	547
Weighted Average Market Cap (millions)	$314,034
Price/Earnings Ratio (P/E)	24.2
Price/Book Ratio (P/B)	7.0
Portfolio Turnover Rate	28% ²

Number of
Contracts

Notional
Amount
($)

Current Value/
Unrealized
Depreciation
($)

Futures Contracts

Russell 1000 Growth Index, e-mini, expires 06/21/19

¹	Excludes derivatives.
²	Not annualized.
³	The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
⁴	This list is not a recommendation of any security by the investment adviser.

¹	Excludes derivatives.
²	As a result of the Schwab 1000 Index^®’s once per year reconstitution and the effects of certain corporate actions, the fund may hold less than 1,000 securities.
³	Not annualized.
⁴	The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
⁵	This list is not a recommendation of any security by the investment adviser.

Number of Holdings	722
Weighted Average Market Cap (millions)	$130,306
Price/Earnings Ratio (P/E)	17.3
Price/Book Ratio (P/B)	2.0
Portfolio Turnover Rate	6% ²

Number of Holdings	784
Weighted Average Market Cap (millions)	$16,664
Price/Earnings Ratio (P/E)	20.5
Price/Book Ratio (P/B)	2.7
Portfolio Turnover Rate	12% ²

Number of Holdings	935
Weighted Average Market Cap (millions)	$63,025
Price/Earnings Ratio (P/E)	15.3
Price/Book Ratio (P/B)	1.6
Portfolio Turnover Rate	3% ²

Assets
Investment in affiliated issuer, at value (cost $39,938,292)		$84,406,463
Investments in unaffiliated issuers, at value (cost $19,404,703,257) including securities on loan of $7,171,117		38,337,201,314
Collateral invested for securities on loan, at value (cost $7,417,454)		7,417,454
Deposit with broker for futures contracts		5,229,000
Receivables:
Fund shares sold		57,163,020
Dividends		33,104,326
Variation margin on futures contracts		194,600
Income from securities on loan		7,355
Interest	+	2,102
Total assets		38,524,725,634
Liabilities
Collateral held for securities on loan		7,417,454
Payables:
Investment adviser fees		622,075
Fund shares redeemed	+	33,277,708
Total liabilities		41,317,237
Net Assets
Total assets		38,524,725,634
Total liabilities	–	41,317,237
Net assets		$38,483,408,397
Net Assets by Source
Capital received from investors		19,365,084,816
Total distributable earnings		19,118,323,581

Net Asset Value (NAV)
Net Assets	÷	Shares Outstanding	=	NAV
$38,483,408,397		849,605,399		$45.30

Investment Income
Dividends received from affiliated issuer		$545,558
Dividends received from unaffiliated issuers		409,838,989
Interest		880,761
Securities on loan, net	+	551,528
Total investment income		411,816,836
Expenses
Investment adviser fees		3,947,228
Total expenses	–	3,947,228
Net investment income		407,869,608
Realized and Unrealized Gains (Losses)
Net realized losses on affiliated issuer		(121,720)
Net realized gains on unaffiliated issuers		9,873,262
Net realized gains on futures contracts	+	3,674,694
Net realized gains		13,426,236
Net change in unrealized appreciation (depreciation) on affiliated issuer		(596,859)
Net change in unrealized appreciation (depreciation) on unaffiliated issuers		2,990,024,122
Net change in unrealized appreciation (depreciation) on futures contracts	+	4,256,076
Net change in unrealized appreciation (depreciation)	+	2,993,683,339
Net realized and unrealized gains		3,007,109,575
Increase in net assets resulting from operations		$3,414,979,183

Operations
	11/1/18-4/30/19		11/1/17-10/31/18
Net investment income		$407,869,608	$629,555,318
Net realized gains		13,426,236	81,971,730
Net change in unrealized appreciation (depreciation)	+	2,993,683,339	1,493,538,632
Increase in net assets from operations		3,414,979,183	2,205,065,680
Distributions to Shareholders
Total distributions		($835,129,475)	($554,866,625)

Transactions in Fund Shares
		11/1/18-4/30/19		11/1/17-10/31/18
		SHARES	VALUE	SHARES	VALUE
Shares sold		103,791,477	$4,322,028,442	185,822,593	$7,893,283,318
Shares reinvested		18,928,942	700,548,834	11,333,723	469,442,817
Shares redeemed	+	(84,423,461)	(3,528,746,073)	(131,541,240)	(5,601,858,204)
Net transactions in fund shares		38,296,958	$1,493,831,203	65,615,076	$2,760,867,931
Shares Outstanding and Net Assets
		11/1/18-4/30/19		11/1/17-10/31/18
		SHARES	NET ASSETS	SHARES	NET ASSETS
Beginning of period		811,308,441	$34,409,727,486	745,693,365	$29,998,660,500
Total increase	+	38,296,958	4,073,680,911	65,615,076	4,411,066,986
End of period		849,605,399	$38,483,408,397	811,308,441	$34,409,727,486

Assets
Investments in unaffiliated issuers, at value (cost $3,158,296,661) including securities on loan of $63,175,245		$4,230,649,740
Collateral invested for securities on loan, at value (cost $65,884,644)		65,884,644
Deposit with broker for futures contracts		1,760,800
Receivables:
Fund shares sold		6,842,247
Dividends		1,049,702
Income from securities on loan		280,811
Foreign tax reclaims		1,110
Interest	+	352
Total assets		4,306,469,406
Liabilities
Collateral held for securities on loan		65,884,644
Payables:
Investments bought		546,927
Investment adviser fees		137,614
Fund shares redeemed		2,958,260
Variation margin on futures contracts	+	59,338
Total liabilities		69,586,783
Net Assets
Total assets		4,306,469,406
Total liabilities	–	69,586,783
Net assets		$4,236,882,623
Net Assets by Source
Capital received from investors		3,160,077,486
Total distributable earnings		1,076,805,137

Investment Income
Dividends (net of foreign withholding tax of $9,634)		$33,498,750
Interest		137,472
Securities on loan, net	+	1,840,527
Total investment income		35,476,749
Expenses
Investment adviser fees		832,448
Total expenses	–	832,448
Net investment income		34,644,301
Realized and Unrealized Gains (Losses)
Net realized gains on investments		12,347,931
Net realized losses on futures contracts	+	(1,260,818)
Net realized gains		11,087,113
Net change in unrealized appreciation (depreciation) on investments		196,302,913
Net change in unrealized appreciation (depreciation) on futures contracts	+	325,203
Net change in unrealized appreciation (depreciation)	+	196,628,116
Net realized and unrealized gains		207,715,229
Increase in net assets resulting from operations		$242,359,530

Operations
	11/1/18-4/30/19		12/20/17*-10/31/18
Net investment income		$744,565	$654,019
Net realized losses		(3,253,600)	(519,372)
Net change in unrealized appreciation (depreciation)	+	18,446,555	453,876
Increase in net assets from operations		15,937,520	588,523
Distributions to Shareholders
Total distributions		($949,803)	$—

Assets
Investments in unaffiliated issuers, at value (cost $165,784,287)		$180,735,738
Deposit with broker for futures contracts		29,400
Receivables:
Investments sold		1,432,833
Fund shares sold		2,650,473
Dividends		214,052
Variation margin on futures contracts	+	4,818
Total assets		185,067,314
Liabilities
Payables:
Investments bought		1,926,512
Investment adviser fees		5,119
Fund shares redeemed		2,095,348
Due to custodian	+	51,244
Total liabilities		4,078,223
Net Assets
Total assets		185,067,314
Total liabilities	–	4,078,223
Net assets		$180,989,091
Net Assets by Source
Capital received from investors		165,705,543
Total distributable earnings		15,283,548

Investment Income
Dividends (net of foreign withholding tax of $319)		$1,854,898
Expenses
Investment adviser fees		24,281
Total expenses	–	24,281
Net investment income		1,830,617
Realized and Unrealized Gains (Losses)
Net realized losses on investments		(670,605)
Net realized gains on futures contracts	+	48,945
Net realized losses		(621,660)
Net change in unrealized appreciation (depreciation) on investments		16,595,316
Net change in unrealized appreciation (depreciation) on futures contracts	+	759
Net change in unrealized appreciation (depreciation)	+	16,596,075
Net realized and unrealized gains		15,974,415
Increase in net assets resulting from operations		$17,805,032

Assets
Investments in unaffiliated issuers, at value (cost $275,997,583)		$301,188,222
Deposit with broker for futures contracts		106,600
Receivables:
Investments sold		57,991
Fund shares sold		2,944,081
Dividends	+	151,726
Total assets		304,448,620
Liabilities
Payables:
Investments bought		2,494,659
Investment adviser fees		9,560
Fund shares redeemed		397,064
Variation margin on futures contracts	+	1,400
Total liabilities		2,902,683
Net Assets
Total assets		304,448,620
Total liabilities	–	2,902,683
Net assets		$301,545,937
Net Assets by Source
Capital received from investors		279,220,002
Total distributable earnings		22,325,935

Investment Income
Dividends (net of foreign withholding tax of $268)		$2,278,008
Expenses
Investment adviser fees		51,426
Total expenses	–	51,426
Net investment income		2,226,582
Realized and Unrealized Gains (Losses)
Net realized losses on investments		(3,920,705)
Net realized gains on futures contracts	+	200,837
Net realized losses		(3,719,868)
Net change in unrealized appreciation (depreciation) on investments		34,478,786
Net change in unrealized appreciation (depreciation) on futures contracts	+	(2,758)
Net change in unrealized appreciation (depreciation)	+	34,476,028
Net realized and unrealized gains		30,756,160
Increase in net assets resulting from operations		$32,982,742

Assets
Investments in unaffiliated issuers, at value (cost $4,162,365,877) including securities on loan of $13,508,352		$4,995,730,033
Collateral invested for securities on loan, at value (cost $14,091,813)		14,091,813
Foreign currency, at value (cost $188,608)		189,210
Deposit with broker for futures contracts		2,524,500
Receivables:
Dividends		22,073,450
Fund shares sold		12,122,697
Foreign tax reclaims		7,888,752
Income from securities on loan		176,486
Variation margin on futures contracts		8,631
Interest	+	362
Total assets		5,054,805,934
Liabilities
Collateral held for securities on loan		14,091,813
Payables:
Investments bought		5,005,741
Investment adviser fees		244,976
Fund shares redeemed	+	4,566,967
Total liabilities		23,909,497
Net Assets
Total assets		5,054,805,934
Total liabilities	–	23,909,497
Net assets		$5,030,896,437
Net Assets by Source
Capital received from investors		4,368,683,807
Total distributable earnings		662,212,630

Investment Income
Dividends (net of foreign withholding tax of $7,914,160)		$77,790,476
Interest		109,247
Securities on loan, net	+	358,895
Total investment income		78,258,618
Expenses
Investment adviser fees		1,379,545
Total expenses	–	1,379,545
Net investment income		76,879,073
Realized and Unrealized Gains (Losses)
Net realized losses on investments		(56,829,379)
Net realized gains on futures contracts		1,604,105
Net realized losses on foreign currency transactions	+	(279,101)
Net realized losses		(55,504,375)
Net change in unrealized appreciation (depreciation) on investments		345,454,661
Net change in unrealized appreciation (depreciation) on futures contracts		(395,316)
Net change in unrealized appreciation (depreciation) on foreign currency translations	+	(143,124)
Net change in unrealized appreciation (depreciation)	+	344,916,221
Net realized and unrealized gains		289,411,846
Increase in net assets resulting from operations		$366,290,919



By:		/s/ Jonathan de St. Paer
		Jonathan de St. Paer
		Chief Executive Officer