Schwab Capital TrustSchwab Fundamental Global Real Estate Index Fund
Portfolio Holdings as of November 30, 2024 (Unaudited)
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.2% OF NET ASSETS | ||
Australia 3.5% | ||
Charter Hall Group | 14,215 | 146,103 |
Charter Hall Retail REIT | 9,662 | 21,689 |
Cromwell Property Group | 155,846 | 38,649 |
Dexus | 40,879 | 194,484 |
Goodman Group | 17,439 | 432,962 |
GPT Group | 59,059 | 183,690 |
HomeCo Daily Needs REIT | 2,783 | 2,277 |
Mirvac Group | 227,715 | 321,671 |
National Storage REIT | 10,687 | 17,474 |
REA Group Ltd. | 225 | 37,109 |
Region RE Ltd. | 39,271 | 56,313 |
Scentre Group | 252,871 | 608,337 |
Stockland | 134,772 | 460,124 |
Vicinity Ltd. | 191,479 | 270,326 |
Waypoint REIT Ltd. | 11,011 | 18,069 |
2,809,277 | ||
Belgium 0.2% | ||
Aedifica SA | 825 | 50,659 |
Cofinimmo SA | 1,361 | 81,589 |
Warehouses De Pauw CVA | 2,421 | 53,568 |
185,816 | ||
Brazil 0.1% | ||
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 17,129 | 52,382 |
Multiplan Empreendimentos Imobiliarios SA | 3,633 | 14,365 |
66,747 | ||
Canada 2.4% | ||
Allied Properties Real Estate Investment Trust | 8,664 | 112,442 |
Altus Group Ltd. | 611 | 25,975 |
Artis Real Estate Investment Trust | 12,849 | 71,401 |
Boardwalk Real Estate Investment Trust | 995 | 50,743 |
Canadian Apartment Properties REIT | 5,115 | 167,510 |
Chartwell Retirement Residences | 5,678 | 65,498 |
Choice Properties Real Estate Investment Trust | 8,869 | 88,560 |
Colliers International Group, Inc. | 723 | 110,847 |
Crombie Real Estate Investment Trust | 7,964 | 81,799 |
CT Real Estate Investment Trust | 2,328 | 25,591 |
Dream Industrial Real Estate Investment Trust | 4,953 | 44,965 |
First Capital Real Estate Investment Trust | 13,150 | 168,502 |
FirstService Corp. | 763 | 148,845 |
Granite Real Estate Investment Trust | 1,324 | 71,872 |
H&R Real Estate Investment Trust | 25,835 | 183,237 |
Killam Apartment Real Estate Investment Trust | 4,103 | 54,363 |
NorthWest Healthcare Properties Real Estate Investment Trust | 16,092 | 57,929 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
RioCan Real Estate Investment Trust | 19,601 | 266,144 |
SmartCentres Real Estate Investment Trust | 6,295 | 115,599 |
1,911,822 | ||
China 8.2% | ||
Agile Group Holdings Ltd. * | 3,635,000 | 377,090 |
A-Living Smart City Services Co. Ltd. | 198,000 | 75,782 |
C&D International Investment Group Ltd. | 47,719 | 79,090 |
China Merchants Shekou Industrial Zone Holdings Co. Ltd., A Shares | 48,500 | 79,246 |
China Resources Land Ltd. | 326,000 | 974,538 |
China Resources Mixc Lifestyle Services Ltd. | 1,200 | 4,550 |
China SCE Group Holdings Ltd. * | 1,221,000 | 27,723 |
China Vanke Co. Ltd., A Shares * | 304,200 | 363,057 |
China Vanke Co. Ltd., H Shares * | 690,700 | 574,524 |
CIFI Holdings Group Co. Ltd. *(a) | 3,226,000 | 138,639 |
Country Garden Services Holdings Co. Ltd. | 242,900 | 176,974 |
ESR Group Ltd. (b) | 4,000 | 5,886 |
Gemdale Corp., A Shares | 116,900 | 94,199 |
Gemdale Properties & Investment Corp. Ltd. | 1,016,000 | 38,783 |
Greenland Holdings Corp. Ltd., A Shares * | 163,500 | 52,916 |
Greentown China Holdings Ltd. | 202,500 | 249,466 |
Greentown Service Group Co. Ltd. | 60,000 | 30,196 |
Guangzhou R&F Properties Co. Ltd., H Shares * | 2,609,022 | 559,173 |
Hopson Development Holdings Ltd. * | 171,800 | 68,854 |
KE Holdings, Inc., ADR | 18,276 | 344,503 |
KWG Group Holdings Ltd. * | 641,000 | 37,580 |
Logan Group Co. Ltd. * | 272,000 | 37,615 |
Longfor Group Holdings Ltd. | 536,000 | 761,403 |
Midea Real Estate Holding Ltd. * | 94,600 | 35,627 |
Onewo, Inc., H Shares | 11,100 | 31,314 |
Poly Developments & Holdings Group Co. Ltd., A Shares | 152,200 | 216,556 |
Powerlong Real Estate Holdings Ltd. *(a) | 791,000 | 59,469 |
Seazen Group Ltd. * | 1,818,000 | 468,868 |
Seazen Holdings Co. Ltd., A Shares * | 36,000 | 68,430 |
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., A Shares | 25,000 | 36,240 |
Shenzhen Overseas Chinese Town Co. Ltd., A Shares * | 167,700 | 70,867 |
Shui On Land Ltd. | 879,000 | 78,215 |
Sunac China Holdings Ltd. * | 1,338,000 | 431,873 |
6,649,246 | ||
France 1.9% | ||
Altarea SCA | 220 | 22,412 |
Carmila SA | 3,675 | 64,089 |
Covivio SA | 3,198 | 175,424 |
Gecina SA | 1,926 | 194,009 |
ICADE | 4,892 | 114,919 |
Klepierre SA | 10,511 | 317,703 |
Mercialys SA | 8,025 | 88,812 |
Nexity SA * | 10,429 | 128,667 |
Unibail-Rodamco-Westfield * | 4,937 | 404,670 |
1,510,705 | ||
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Schwab Fundamental Global Real Estate Index Fund
Portfolio Holdings (Unaudited) continued
SECURITY | NUMBER OF SHARES | VALUE ($) |
Germany 2.2% | ||
BRANICKS Group AG *(a) | 4,037 | 10,217 |
Deutsche Wohnen SE | 1,037 | 27,175 |
LEG Immobilien SE | 2,646 | 245,485 |
TAG Immobilien AG * | 11,639 | 193,689 |
Vonovia SE | 38,174 | 1,266,224 |
1,742,790 | ||
Guernsey 0.0% | ||
Sirius Real Estate Ltd. | 41,631 | 45,901 |
Hong Kong 9.3% | ||
China Jinmao Holdings Group Ltd. | 3,021,000 | 422,330 |
China Overseas Grand Oceans Group Ltd. | 563,000 | 133,837 |
China Overseas Land & Investment Ltd. | 768,500 | 1,327,872 |
CK Asset Holdings Ltd. | 179,950 | 738,265 |
Fortune Real Estate Investment Trust | 94,000 | 48,388 |
Hang Lung Group Ltd. | 72,000 | 92,827 |
Hang Lung Properties Ltd. | 135,697 | 110,423 |
Henderson Land Development Co. Ltd. | 83,866 | 263,397 |
Hongkong Land Holdings Ltd. | 83,627 | 380,382 |
Hysan Development Co. Ltd. | 48,500 | 78,342 |
Jiayuan International Group Ltd. *(b) | 534,000 | 0 |
Kerry Properties Ltd. | 115,500 | 232,380 |
Link REIT | 87,600 | 383,175 |
New World Development Co. Ltd. (a)(b) | 475,460 | 394,546 |
Poly Property Group Co. Ltd. | 827,000 | 172,074 |
Shanghai Industrial Holdings Ltd. | 58,000 | 86,234 |
Shenzhen Investment Ltd. | 340,000 | 38,511 |
Shinsun Holdings Group Co. Ltd. *(b) | 1,290,000 | 0 |
Sino Land Co. Ltd. | 200,204 | 196,298 |
Sino-Ocean Group Holding Ltd. * | 1,874,000 | 71,917 |
Sun Hung Kai Properties Ltd. | 129,842 | 1,297,633 |
Swire Pacific Ltd., A Shares | 28,000 | 230,549 |
Swire Pacific Ltd., B Shares | 52,500 | 69,940 |
Swire Properties Ltd. | 54,000 | 107,894 |
Wharf Holdings Ltd. | 61,000 | 167,397 |
Wharf Real Estate Investment Co. Ltd. | 91,400 | 246,354 |
Yuexiu Property Co. Ltd. | 287,359 | 210,436 |
7,501,401 | ||
Israel 0.4% | ||
Alony Hetz Properties & Investments Ltd. | 7,499 | 63,917 |
Ashtrom Group Ltd. * | 1,837 | 32,350 |
Azrieli Group Ltd. | 782 | 62,912 |
Elco Ltd. | 778 | 28,373 |
G City Ltd. | 19,321 | 83,134 |
Melisron Ltd. | 388 | 34,518 |
Mivne Real Estate KD Ltd. | 19,301 | 57,803 |
363,007 | ||
Japan 9.8% | ||
Activia Properties, Inc. | 25 | 53,676 |
Advance Residence Investment Corp. | 36 | 71,000 |
Aeon Mall Co. Ltd. | 11,800 | 158,365 |
AEON REIT Investment Corp. | 77 | 64,907 |
Comforia Residential REIT, Inc. | 7 | 13,491 |
Daito Trust Construction Co. Ltd. | 7,170 | 800,376 |
Daiwa House REIT Investment Corp. | 68 | 105,844 |
Daiwa Office Investment Corp. | 21 | 42,087 |
Daiwa Securities Living Investments Corp. | 64 | 38,868 |
Frontier Real Estate Investment Corp. | 17 | 44,889 |
Fukuoka REIT Corp. | 18 | 17,140 |
GLP J-Reit | 108 | 91,895 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Heiwa Real Estate Co. Ltd. | 1,700 | 48,610 |
Hulic Co. Ltd. | 24,800 | 223,575 |
Hulic Reit, Inc. | 17 | 15,100 |
Industrial & Infrastructure Fund Investment Corp. | 62 | 47,505 |
Invincible Investment Corp. | 111 | 47,205 |
Japan Excellent, Inc. | 61 | 47,797 |
Japan Hotel REIT Investment Corp. | 96 | 43,800 |
Japan Logistics Fund, Inc. | 25 | 44,113 |
Japan Metropolitan Fund Invest | 256 | 156,221 |
Japan Prime Realty Investment Corp. | 34 | 75,154 |
Japan Real Estate Investment Corp. | 45 | 166,558 |
Japan Wool Textile Co. Ltd. | 4,200 | 34,995 |
KDX Realty Investment Corp. | 97 | 95,502 |
LaSalle Logiport REIT | 19 | 18,264 |
Mirarth Holdings, Inc. | 7,100 | 23,954 |
Mitsubishi Estate Co. Ltd. | 72,800 | 1,031,696 |
Mitsui Fudosan Co. Ltd. | 161,700 | 1,355,574 |
Mori Hills REIT Investment Corp. | 18 | 15,029 |
Nippon Accommodations Fund, Inc. | 12 | 46,559 |
Nippon Building Fund, Inc. | 240 | 201,317 |
Nippon Kanzai Holdings Co. Ltd. | 1,100 | 18,891 |
Nippon Prologis REIT, Inc. | 52 | 82,015 |
NIPPON REIT Investment Corp. | 9 | 19,008 |
Nomura Real Estate Holdings, Inc. | 10,200 | 253,564 |
Nomura Real Estate Master Fund, Inc. | 167 | 158,180 |
NTT UD REIT Investment Corp. | 55 | 41,746 |
Open House Group Co. Ltd. | 2,900 | 107,395 |
Orix JREIT, Inc. | 104 | 115,887 |
Pressance Corp. | 300 | 3,704 |
Relo Group, Inc. | 5,700 | 67,387 |
SAMTY HOLDINGS Co. Ltd. | 1,200 | 26,307 |
Sekisui House Reit, Inc. | 122 | 59,613 |
Starts Corp., Inc. | 4,200 | 103,404 |
Sumitomo Realty & Development Co. Ltd. | 22,700 | 704,247 |
Sun Frontier Fudousan Co. Ltd. | 1,600 | 20,114 |
Token Corp. | 800 | 58,359 |
Tokyo Tatemono Co. Ltd. | 16,000 | 276,652 |
Tokyu Fudosan Holdings Corp. | 60,900 | 399,431 |
United Urban Investment Corp. | 117 | 106,752 |
7,863,722 | ||
Jersey 0.1% | ||
International Workplace Group PLC | 27,805 | 59,061 |
Luxembourg 0.5% | ||
Aroundtown SA * | 84,407 | 281,753 |
Grand City Properties SA * | 7,454 | 98,639 |
380,392 | ||
Mexico 0.3% | ||
Corp. Inmobiliaria Vesta SAB de CV | 5,047 | 12,033 |
FIBRA Macquarie Mexico | 31,993 | 50,340 |
Fibra Uno Administracion SA de CV | 168,248 | 176,021 |
Prologis Property Mexico SA de CV | 17,562 | 52,221 |
290,615 | ||
Netherlands 0.3% | ||
Eurocommercial Properties NV | 2,822 | 70,528 |
NEPI Rockcastle NV * | 23,174 | 179,771 |
Wereldhave NV | 1,710 | 25,090 |
275,389 | ||
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Schwab Fundamental Global Real Estate Index Fund
Portfolio Holdings (Unaudited) continued
SECURITY | NUMBER OF SHARES | VALUE ($) |
Philippines 0.7% | ||
Alliance Global Group, Inc. | 299,500 | 44,847 |
Ayala Corp. | 17,840 | 186,366 |
Ayala Land, Inc. | 297,632 | 145,380 |
Megaworld Corp. | 827,000 | 28,790 |
Robinsons Land Corp. | 80,600 | 18,263 |
SM Prime Holdings, Inc. | 243,700 | 109,836 |
533,482 | ||
Singapore 1.3% | ||
CapitaLand Ascendas REIT | 89,988 | 176,098 |
CapitaLand Ascott Trust | 84,680 | 56,317 |
CapitaLand China Trust | 28,600 | 15,269 |
CapitaLand Integrated Commercial Trust | 104,075 | 152,403 |
CapitaLand Investment Ltd. | 33,638 | 68,638 |
City Developments Ltd. | 31,700 | 123,314 |
ESR-LOGOS REIT | 24,600 | 4,780 |
Frasers Logistics & Commercial Trust | 63,800 | 43,344 |
Keppel DC REIT | 1,600 | 2,655 |
Manulife U.S. Real Estate Investment Trust * | 241,000 | 24,817 |
Mapletree Industrial Trust | 44,544 | 77,160 |
Mapletree Logistics Trust | 75,231 | 71,884 |
Mapletree Pan Asia Commercial Trust | 59,127 | 54,278 |
Suntec Real Estate Investment Trust | 32,300 | 27,502 |
UOL Group Ltd. | 32,680 | 129,374 |
1,027,833 | ||
South Africa 0.9% | ||
Fortress Real Estate Investments Ltd., Class B | 66,205 | 72,760 |
Growthpoint Properties Ltd. | 348,303 | 251,132 |
Hyprop Investments Ltd. | 36,489 | 90,512 |
Redefine Properties Ltd. | 710,154 | 178,955 |
Resilient REIT Ltd. | 20,757 | 68,033 |
Vukile Property Fund Ltd. | 67,787 | 68,855 |
730,247 | ||
Spain 0.3% | ||
Inmobiliaria Colonial Socimi SA | 11,222 | 64,667 |
Merlin Properties Socimi SA | 17,263 | 189,354 |
254,021 | ||
Sweden 0.7% | ||
Castellum AB * | 12,471 | 147,527 |
Corem Property Group AB, B Shares | 29,241 | 18,935 |
Fabege AB | 7,117 | 55,457 |
Fastighets AB Balder, B Shares * | 12,264 | 94,504 |
Nyfosa AB | 528 | 5,283 |
Pandox AB | 3,144 | 55,506 |
Sagax AB, B Shares | 1,766 | 39,133 |
Samhallsbyggnadsbolaget i Norden AB | 152,089 | 53,795 |
Samhallsbyggnadsbolaget i Norden AB, D Shares | 2,606 | 1,385 |
Wihlborgs Fastigheter AB | 8,010 | 81,276 |
552,801 | ||
Switzerland 0.8% | ||
Allreal Holding AG | 639 | 117,432 |
Mobimo Holding AG | 236 | 76,751 |
PSP Swiss Property AG | 828 | 120,742 |
Swiss Prime Site AG | 2,727 | 301,481 |
616,406 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Taiwan 0.3% | ||
Chong Hong Construction Co. Ltd. | 1,000 | 2,766 |
Farglory Land Development Co. Ltd. | 12,000 | 24,299 |
Highwealth Construction Corp. | 39,884 | 59,169 |
Huaku Development Co. Ltd. | 15,800 | 59,464 |
Kindom Development Co. Ltd. | 18,000 | 32,898 |
Ruentex Development Co. Ltd. | 43,273 | 60,022 |
238,618 | ||
Thailand 0.6% | ||
3BB Internet Infrastructure Fund * | 136,500 | 22,486 |
AP Thailand PCL NVDR | 113,061 | 28,569 |
Central Pattana PCL NVDR | 72,000 | 126,393 |
Digital Telecommunications Infrastructure Fund, Class F | 90,200 | 23,174 |
Land & Houses PCL NVDR | 670,111 | 105,711 |
Pruksa Holding PCL NVDR | 81,200 | 20,006 |
Sansiri PCL NVDR | 1,444,483 | 75,787 |
Supalai PCL NVDR | 142,382 | 79,083 |
481,209 | ||
United Arab Emirates 1.3% | ||
Aldar Properties PJSC | 89,606 | 183,890 |
Emaar Development PJSC | 44,816 | 138,696 |
Emaar Properties PJSC | 273,033 | 710,292 |
1,032,878 | ||
United Kingdom 2.1% | ||
Assura PLC | 83,547 | 42,155 |
Big Yellow Group PLC | 3,948 | 53,853 |
British Land Co. PLC | 39,120 | 193,515 |
Cushman & Wakefield PLC * | 18,788 | 287,456 |
Derwent London PLC | 3,365 | 90,517 |
Grainger PLC | 23,027 | 68,564 |
Hammerson PLC | 7,357 | 27,392 |
Land Securities Group PLC | 29,831 | 228,783 |
LondonMetric Property PLC | 18,178 | 44,851 |
Primary Health Properties PLC | 37,725 | 45,723 |
Rightmove PLC | 6,214 | 51,088 |
Safestore Holdings PLC | 5,637 | 53,416 |
Savills PLC | 11,854 | 161,998 |
Segro PLC | 17,572 | 174,326 |
Tritax Big Box REIT PLC | 34,752 | 61,510 |
UNITE Group PLC | 5,261 | 58,987 |
Workspace Group PLC | 3,322 | 23,799 |
1,667,933 | ||
United States 51.0% | ||
Acadia Realty Trust | 4,185 | 108,182 |
Agree Realty Corp. | 1,152 | 88,474 |
Alexander & Baldwin, Inc. | 5,577 | 109,755 |
Alexandria Real Estate Equities, Inc. | 4,205 | 463,517 |
American Assets Trust, Inc. | 2,925 | 83,187 |
American Homes 4 Rent, Class A | 5,718 | 218,942 |
American Tower Corp. | 9,076 | 1,896,884 |
Americold Realty Trust, Inc. | 8,654 | 206,484 |
Anywhere Real Estate, Inc. * | 25,350 | 124,215 |
Apple Hospitality REIT, Inc. | 13,010 | 209,591 |
AvalonBay Communities, Inc. | 3,490 | 821,371 |
Brandywine Realty Trust | 16,950 | 94,920 |
Brixmor Property Group, Inc. | 12,958 | 389,647 |
Broadstone Net Lease, Inc. | 4,149 | 72,649 |
BXP, Inc. | 9,807 | 804,076 |
Camden Property Trust | 2,862 | 360,040 |
3
Schwab Fundamental Global Real Estate Index Fund
Portfolio Holdings (Unaudited) continued
SECURITY | NUMBER OF SHARES | VALUE ($) |
CareTrust REIT, Inc. | 1,171 | 34,884 |
CBL & Associates Properties, Inc. | 1,388 | 42,889 |
CBRE Group, Inc., Class A * | 15,595 | 2,183,144 |
Centerspace | 353 | 25,593 |
Chatham Lodging Trust | 2,139 | 19,700 |
Claros Mortgage Trust, Inc. | 4,678 | 31,764 |
Compass, Inc., Class A * | 20,773 | 147,281 |
COPT Defense Properties | 5,573 | 183,630 |
CoStar Group, Inc. * | 2,101 | 170,895 |
Cousins Properties, Inc. | 7,568 | 240,208 |
Crown Castle, Inc. | 14,014 | 1,488,987 |
CubeSmart | 4,473 | 221,682 |
Curbline Properties Corp. * | 4,437 | 107,642 |
DiamondRock Hospitality Co. | 15,697 | 145,668 |
Digital Realty Trust, Inc. | 7,303 | 1,429,124 |
DigitalBridge Group, Inc. | 9,196 | 120,468 |
Diversified Healthcare Trust | 51,094 | 132,844 |
Douglas Emmett, Inc. | 14,455 | 279,849 |
Easterly Government Properties, Inc. | 4,764 | 58,692 |
EastGroup Properties, Inc. | 578 | 99,537 |
Elme Communities | 4,615 | 78,178 |
Empire State Realty Trust, Inc., Class A | 10,361 | 113,557 |
EPR Properties | 3,601 | 163,377 |
Equinix, Inc. | 1,466 | 1,438,850 |
Equity LifeStyle Properties, Inc. | 3,419 | 243,877 |
Equity Residential | 11,128 | 853,072 |
Essential Properties Realty Trust, Inc. | 1,812 | 61,789 |
Essex Property Trust, Inc. | 1,636 | 507,913 |
eXp World Holdings, Inc. | 5,662 | 78,419 |
Extra Space Storage, Inc. | 2,962 | 506,384 |
Federal Realty Investment Trust | 2,403 | 280,310 |
First Industrial Realty Trust, Inc. | 2,456 | 131,273 |
Four Corners Property Trust, Inc. | 1,880 | 55,855 |
Gaming & Leisure Properties, Inc. | 6,274 | 323,801 |
GEO Group, Inc. * | 11,014 | 314,009 |
Getty Realty Corp. | 631 | 20,747 |
Global Net Lease, Inc. | 12,290 | 91,069 |
HA Sustainable Infrastructure Capital, Inc. | 724 | 22,705 |
Healthcare Realty Trust, Inc. | 12,385 | 226,893 |
Healthpeak Properties, Inc. | 24,878 | 547,067 |
Highwoods Properties, Inc. | 7,835 | 254,324 |
Host Hotels & Resorts, Inc. | 34,662 | 638,474 |
Howard Hughes Holdings, Inc. * | 994 | 86,220 |
Hudson Pacific Properties, Inc. | 32,999 | 127,046 |
Independence Realty Trust, Inc. | 4,020 | 87,797 |
Industrial Logistics Properties Trust | 9,568 | 37,028 |
Innovative Industrial Properties, Inc. | 40 | 4,361 |
InvenTrust Properties Corp. | 1,518 | 47,012 |
Invitation Homes, Inc. | 12,044 | 412,507 |
Iron Mountain, Inc. | 8,699 | 1,075,805 |
JBG SMITH Properties | 9,475 | 161,928 |
Jones Lang LaSalle, Inc. * | 5,068 | 1,422,081 |
Kennedy-Wilson Holdings, Inc. | 8,727 | 101,059 |
Kilroy Realty Corp. | 6,623 | 275,053 |
Kimco Realty Corp. | 18,823 | 481,304 |
Kite Realty Group Trust | 4,653 | 128,283 |
Lamar Advertising Co., Class A | 2,816 | 377,400 |
LTC Properties, Inc. | 1,397 | 53,910 |
LXP Industrial Trust | 10,671 | 99,774 |
Macerich Co. | 17,539 | 372,002 |
Marcus & Millichap, Inc. | 1,750 | 72,818 |
McGrath RentCorp | 490 | 59,707 |
Medical Properties Trust, Inc. | 61,745 | 271,061 |
Mid-America Apartment Communities, Inc. | 3,316 | 544,355 |
National Health Investors, Inc. | 1,398 | 107,157 |
National Storage Affiliates Trust | 1,835 | 82,759 |
Newmark Group, Inc., Class A | 10,742 | 166,286 |
NNN REIT, Inc. | 4,423 | 194,524 |
Office Properties Income Trust | 10,724 | 17,695 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Omega Healthcare Investors, Inc. | 7,773 | 315,662 |
Opendoor Technologies, Inc. * | 15,302 | 35,807 |
Outfront Media, Inc. | 10,373 | 199,265 |
Paramount Group, Inc. | 15,066 | 73,221 |
Park Hotels & Resorts, Inc. | 25,001 | 388,766 |
Peakstone Realty Trust | 592 | 8,128 |
Pebblebrook Hotel Trust | 7,049 | 97,629 |
Phillips Edison & Co., Inc. | 3,511 | 138,684 |
Piedmont Office Realty Trust, Inc., Class A | 11,212 | 106,738 |
Prologis, Inc. | 9,824 | 1,147,247 |
Public Storage | 2,584 | 899,361 |
Realty Income Corp. | 10,144 | 587,236 |
Regency Centers Corp. | 4,990 | 377,194 |
Retail Opportunity Investments Corp. | 5,352 | 93,125 |
Rexford Industrial Realty, Inc. | 2,049 | 86,222 |
RLJ Lodging Trust | 15,276 | 155,968 |
Ryman Hospitality Properties, Inc. | 989 | 115,950 |
Sabra Health Care REIT, Inc. | 12,026 | 225,247 |
SBA Communications Corp. | 1,422 | 321,727 |
Seaport Entertainment Group, Inc. * | 108 | 3,656 |
Service Properties Trust | 40,137 | 111,581 |
Simon Property Group, Inc. | 9,276 | 1,703,074 |
SITE Centers Corp. | 2,237 | 34,718 |
SL Green Realty Corp. | 6,807 | 532,239 |
STAG Industrial, Inc. | 3,548 | 130,531 |
Sun Communities, Inc. | 2,928 | 369,894 |
Sunstone Hotel Investors, Inc. | 12,098 | 130,053 |
Tanger, Inc. | 3,713 | 137,270 |
Terreno Realty Corp. | 956 | 57,962 |
UDR, Inc. | 8,287 | 380,042 |
Uniti Group, Inc. | 45,355 | 268,048 |
Urban Edge Properties | 5,294 | 121,815 |
Ventas, Inc. | 19,297 | 1,236,359 |
Veris Residential, Inc. | 3,301 | 60,243 |
VICI Properties, Inc. | 11,780 | 384,146 |
Vornado Realty Trust | 17,429 | 750,318 |
Welltower, Inc. | 12,105 | 1,672,669 |
WP Carey, Inc. | 5,448 | 310,863 |
Xenia Hotels & Resorts, Inc. | 8,622 | 132,606 |
Zillow Group, Inc., Class A * | 465 | 37,911 |
Zillow Group, Inc., Class C * | 1,370 | 116,053 |
41,090,518 | ||
Total Common Stocks (Cost $60,593,774) | 79,881,837 | |
RIGHTS 0.0% OF NET ASSETS | ||
Singapore 0.0% | ||
Keppel DC REIT | ||
expires 12/10/24, strike SGD 2.03 *(b) | 137 | 19 |
Total Rights (Cost $0) | 19 | |
INVESTMENT COMPANIES 0.2% OF NET ASSETS | ||
United States 0.2% | ||
iShares Core U.S. REIT ETF | 2,362 | 147,531 |
Total Investment Companies (Cost $144,476) | 147,531 | |
4
Schwab Fundamental Global Real Estate Index Fund
Portfolio Holdings (Unaudited) continued
SECURITY | NUMBER OF SHARES | VALUE ($) |
SHORT-TERM INVESTMENTS 0.7% OF NET ASSETS | ||
Money Market Funds 0.7% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 4.59% (c)(d) | 540,112 | 540,112 |
Total Short-Term Investments (Cost $540,112) | 540,112 | |
Total Investments in Securities (Cost $61,278,362) | 80,569,499 | |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED APPRECIATION (DEPRECIATION) ($) | |
FUTURES CONTRACTS | |||
Long | |||
Dow Jones U.S. Real Estate Index, expires 12/20/24 | 7 | 274,330 | 6,190 |
MSCI EAFE Index, expires 12/20/24 | 1 | 116,585 | 2,918 |
MSCI Emerging Markets Index, expires 12/20/24 | 1 | 54,530 | (257 ) |
8,851 | |||
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $497,163. |
(b) | Fair valued using significant unobservable inputs (see notes to portfolio holdings for additional information). |
(c) | The rate shown is the annualized 7-day yield. |
(d) | Security purchased with cash collateral received for securities on loan. |
ADR — | American Depositary Receipt |
CVA — | Dutch Certificate |
ETF — | Exchange-Traded Fund |
NVDR — | Non-Voting Depositary Receipt |
REIT — | Real Estate Investment Trust |
SGD — | Singapore Dollar |
Below is a summary of the fund’s transactions with affiliated issuers and affiliated companies which are or were affiliates during the period ended November 30, 2024. An affiliated company is a company in which the investment adviser has or had an ownership of at least 5% of the voting securities of a security issue during the report period. A dash in the Value at February 29, 2024, and/or Value at November 30, 2024, columns means either the issuer was not held or not held as an affiliate at the beginning of period and is no longer held at period end or the issuer is held at period end but is no longer an affiliate.
SECURITY | VALUE AT 2/29/24 | PURCHASES | SALES | NET REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | VALUE AT 11/30/24 | BALANCE OF SHARES HELD AT 11/30/24 | DIVIDENDS RECEIVED |
COMMON STOCKS 0.0% OF NET ASSETS | ||||||||
United States 0.0% | ||||||||
Ashford Hospitality Trust, Inc. | $— | $— | ($31,880 ) | ($56,556 ) | $43,689 | $— | — | $— |
Diversified Healthcare Trust | — | 15,387 | (330,714 ) | 127,810 | (215,063 ) | — | 51,094 | 2,441 |
Total | $— | $15,387 | ($362,594 ) | $71,254 | ($171,374 ) | $— | $2,441 | |
5
Schwab Fundamental Global Real Estate Index Fund
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of November 30, 2024 (see notes to portfolio holdings 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 Stocks 1 | $44,135,850 | $— | $— | $44,135,850 |
Australia | — | 2,809,277 | — | 2,809,277 |
Belgium | — | 185,816 | — | 185,816 |
China | 380,130 | 6,263,230 | 5,886 | 6,649,246 |
France | 22,412 | 1,488,293 | — | 1,510,705 |
Germany | 10,217 | 1,732,573 | — | 1,742,790 |
Hong Kong | 167,397 | 6,939,458 | 394,546 * | 7,501,401 |
Israel | 83,134 | 279,873 | — | 363,007 |
Japan | 201,317 | 7,662,405 | — | 7,863,722 |
Jersey | — | 59,061 | — | 59,061 |
Luxembourg | — | 380,392 | — | 380,392 |
Netherlands | 250,299 | 25,090 | — | 275,389 |
Philippines | 44,847 | 488,635 | — | 533,482 |
Singapore | — | 1,027,833 | — | 1,027,833 |
Spain | — | 254,021 | — | 254,021 |
Sweden | 56,891 | 495,910 | — | 552,801 |
Switzerland | 76,751 | 539,655 | — | 616,406 |
Taiwan | — | 238,618 | — | 238,618 |
Thailand | 42,492 | 438,717 | — | 481,209 |
United Arab Emirates | — | 1,032,878 | — | 1,032,878 |
United Kingdom | 820,812 | 847,121 | — | 1,667,933 |
Rights | ||||
Singapore | — | — | 19 | 19 |
Investment Companies 1 | 147,531 | — | — | 147,531 |
Short-Term Investments 1 | 540,112 | — | — | 540,112 |
Futures Contracts 2 | 9,108 | — | — | 9,108 |
Liabilities | ||||
Futures Contracts 2 | (257 ) | — | — | (257 ) |
Total | $46,989,043 | $33,188,856 | $400 ,451 | $80,578,350 |
* | Level 3 amount shown includes securities determined to have no value at November 30, 2024. |
1 | As categorized in the Portfolio Holdings. |
2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
6
Schwab Fundamental Global Real Estate Index Fund
Notes to Portfolio Holdings (Unaudited)
Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the 1940 Act), the Board of Trustees (the Board) has designated authority to a Valuation Designee, the fund’s investment adviser, to make fair valuation determinations under adopted procedures, subject to Board oversight. The investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and liabilities as well as to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. The Valuation Designee may utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
Securities held in the fund’s portfolio are valued every business day. The following valuation policies and procedures are used by the Valuation Designee to value various types of securities:
● 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.
● Foreign equity security fair valuation: The Valuation Designee has adopted procedures to fair value foreign equity securities that are traded in markets that close prior to the valuation of the fund’s holdings. By fair valuing securities whose prices may have been affected by events occurring after the close of trading, the Valuation Designee seeks to establish prices that investors might expect to realize upon the current sales of these securities. This methodology is designed to deter “arbitrage” market timers, who seek to exploit delays between the change in the value of the fund’s portfolio holdings and the net asset value (NAV) of the fund’s shares and seeks to help ensure that the prices at which the fund’s shares are purchased and redeemed are fair and do not result in dilution of shareholder interest or other harm to shareholders. When fair value pricing is used at the open or close of a reporting period, it may cause a temporary divergence between the return of the fund and that of its comparative index or benchmark.
● Futures contracts: Futures contracts are valued at their settlement prices as of the close of their exchanges.
● Mutual funds: Mutual funds are valued at their respective NAVs.
● Securities for which no quoted value is available: The Valuation Designee has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a security may be fair valued when it’s de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. Fair value determinations are made in good faith in accordance with adopted valuation procedures. The Valuation Designee considers a number of factors, including unobservable market inputs, when arriving at fair value. The Valuation Designee may employ methods such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. Due to the subjective and variable nature of fair value pricing, there can be no assurance that the fund could obtain the fair value assigned to the security upon the sale of such security.
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the significant inputs to valuation methods used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. If it is determined that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and the Valuation Designee’s judgment will be required to estimate fair value.
The three levels of the fair value hierarchy are as follows:
● Level 1 — quoted prices in active markets for identical investments — Investments whose values are based on quoted market prices in active markets. These generally include active listed equities, mutual funds, exchange-traded funds (ETFs) and futures contracts. Mutual funds and ETFs are classified as Level 1 prices, without consideration to the classification level of the underlying securities held which could be Level 1, Level 2 or Level 3 in the fair value hierarchy.
● Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include forward foreign currency exchange contracts, U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. In addition, international securities whose markets close
7
Schwab Fundamental Global Real Estate Index Fund
Notes to Portfolio Holdings (Unaudited) (continued)
hours before the valuation of the fund’s holdings may require fair valuations due to significant movement in the U.S. markets occurring after the daily close of the foreign markets. The Valuation Designee has approved a vendor that calculates fair valuations of international equity securities based on a number of factors that appear to correlate to the movements in the U.S. markets.
● Level 3 — significant unobservable inputs (including the Valuation Designee’s assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not readily available for these securities, one or more valuation methods are used for which sufficient and reliable data is available. The inputs used in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated in the absence of market information. Assumptions used due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The levels associated with valuing the fund’s investments as of November 30, 2024, are disclosed in the fund’s Portfolio Holdings.
REG84516NOV24
8