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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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028 G020400 757
028 G030400 0
028 G040400 7142
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 N
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.410
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
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048 D010400 0
048 D020400 0.000
048 E010400 0
<PAGE> PAGE 21
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
058 A000400 N
059 000400 Y
060 A000400 N
060 B000400 N
061 000400 1000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.9
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 99.1
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 20.0
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
<PAGE> PAGE 22
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 27246
071 B000400 25899
071 C000400 42615
071 D000400 61
072 A000400 12
072 B000400 2442
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 179
072 G000400 0
072 H000400 0
072 I000400 109
072 J000400 32
072 K000400 0
072 L000400 28
072 M000400 7
072 N000400 32
072 O000400 0
072 P000400 0
072 Q000400 0
<PAGE> PAGE 23
072 R000400 26
072 S000400 1
072 T000400 0
072 U000400 17
072 V000400 0
072 W000400 17
072 X000400 448
072 Y000400 234
072 Z000400 2228
072AA000400 407
072BB000400 0
072CC010400 1281
072CC020400 0
072DD010400 2228
072DD020400 0
072EE000400 0
073 A010400 0.5300
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 416
074 D000400 45838
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 767
074 M000400 13
074 N000400 47034
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 267
074 S000400 0
074 T000400 46767
074 U010400 4442
074 U020400 0
074 V010400 10.53
074 V020400 0.00
074 W000400 0.0000
074 X000400 2320
074 Y000400 7389
075 A000400 0
<PAGE> PAGE 24
075 B000400 43987
076 000400 0.00
024 000500 N
025 D000501 0
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 641
028 A020500 129
028 A030500 0
028 A040500 899
028 B010500 977
028 B020500 139
028 B030500 0
028 B040500 2300
028 C010500 1111
028 C020500 147
028 C030500 0
028 C040500 1434
028 D010500 2202
028 D020500 125
028 D030500 0
028 D040500 886
028 E010500 1033
028 E020500 136
028 E030500 0
028 E040500 1499
028 F010500 2020
028 F020500 138
028 F030500 0
028 F040500 1056
028 G010500 7984
028 G020500 814
028 G030500 0
028 G040500 8074
028 H000500 0
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
037 000500 N
038 000500 0
039 000500 N
<PAGE> PAGE 25
040 000500 N
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.410
048 A010500 0
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048 B010500 0
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048 F020500 0.000
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048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
058 A000500 N
059 000500 Y
060 A000500 N
060 B000500 N
061 000500 1000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 1.5
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.2
062 M000500 0.0
062 N000500 0.0
062 O000500 98.3
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062 Q000500 0.0
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<PAGE> PAGE 26
063 B000500 3.5
064 A000500 Y
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 Y
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 12063
071 B000500 10314
071 C000500 51494
071 D000500 20
072 A000500 12
072 B000500 2429
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<PAGE> PAGE 27
072 D000500 0
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072 Z000500 2169
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074 D000500 52783
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074 M000500 29
074 N000500 54487
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<PAGE> PAGE 28
074 R010500 0
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074 X000500 2506
074 Y000500 11192
075 A000500 0
075 B000500 53342
076 000500 0.00
024 000600 N
025 D000601 0
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025 D000603 0
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025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 2143
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028 A040600 1841
028 B010600 1569
028 B020600 142
028 B030600 0
028 B040600 1885
028 C010600 1851
028 C020600 150
028 C030600 0
028 C040600 1417
028 D010600 2041
028 D020600 125
028 D030600 0
028 D040600 1560
028 E010600 2304
028 E020600 135
028 E030600 0
028 E040600 1664
028 F010600 4987
028 F020600 137
028 F030600 0
028 F040600 1252
028 G010600 14895
028 G020600 820
<PAGE> PAGE 29
028 G030600 0
028 G040600 9619
028 H000600 0
029 000600 N
030 A000600 0
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030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
033 000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 N
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.410
048 A010600 0
048 A020600 0.000
048 B010600 0
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048 E010600 0
048 E020600 0.000
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048 G010600 0
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048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
058 A000600 N
059 000600 Y
060 A000600 N
060 B000600 N
061 000600 1000
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 3.0
<PAGE> PAGE 30
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 97.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 3.5
064 A000600 Y
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
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070 O010600 N
<PAGE> PAGE 31
070 O020600 N
070 P010600 Y
070 P020600 Y
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070 Q020600 N
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071 A000600 24242
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071 C000600 49538
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072 B000600 2401
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073 A010600 0.4300
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074 C000600 1815
<PAGE> PAGE 32
074 D000600 57451
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074 L000600 740
074 M000600 2
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074 X000600 2112
074 Y000600 6524
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075 B000600 51242
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024 000700 N
025 D000701 0
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028 A010700 1152
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028 A040700 563
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028 C040700 2243
<PAGE> PAGE 33
028 D010700 2085
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028 D030700 0
028 D040700 1126
028 E010700 2055
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028 F030700 0
028 F040700 1702
028 G010700 10223
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028 G030700 0
028 G040700 7849
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031 A000700 0
031 B000700 0
032 000700 0
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037 000700 N
038 000700 0
039 000700 N
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<PAGE> PAGE 34
048 J010700 0
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062 L000700 1.0
062 M000700 33.7
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063 B000700 11.1
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066 A000700 N
067 000700 N
068 A000700 N
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<PAGE> PAGE 35
070 H020700 N
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070 P020700 N
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<PAGE> PAGE 36
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<PAGE> PAGE 37
072 D001400 0
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SIGNATURE KATHY THREN
TITLE COUNSEL
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<NAME> SCHWAB INVESTMENTS
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 012
<NAME> SCHWAB 1000 FUND - SELECT SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
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<REALIZED-GAINS-CURRENT> (4992)
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<NET-CHANGE-IN-ASSETS> 1286076
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<NAME> SCHWAB INVESTMENTS
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<NAME> SCHWAB SHORT/INT GOVERNMENT BOND FUND
<S> <C>
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<NAME> SCHWAB INVESTMENTS
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<NUMBER> 03
<NAME> SCHWAB CAL LONG-TERM TAX-FREE BOND FUND
<S> <C>
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<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 04
<NAME> SCHWAB LONG TERM TAX-FREE BOND FUND
<S> <C>
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<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 05
<NAME> SCHWAB SHORT/IN TAX-FREE BOND FUND
<S> <C>
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<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 06
<NAME> SCHWAB CAL SHORT/TERM TAX-FREE BOND FUND
<S> <C>
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<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
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<NAME> SCHWAB LONG-TERM GOVERNMENT BOND FUND
<S> <C>
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