Vault-13

SCHWAB STRATEGIC TR SCHB

US BRD MKT ETF · ETP · CUSIP 808524102

1,217 institutional holders +1 vs Q2 2025
479,832,141479.8m shares reported held*
$12.5bnreported value*
67 new 485 added 456 reduced 48 sold out net bought ≈ $213.1m (-55.5m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.07. Options: 4 managers hold calls ($7.5m notional), 1 hold puts ($275.1k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

05001k1.5kQ3 22: 862Q4 22: 934Q1 23: 928Q2 23: 951Q3 23: 947Q4 23: 1,041Q1 24: 1,077Q2 24: 1,088Q3 24: 1,106Q4 24: 1,184Q1 25: 1,177Q2 25: 1,216Q3 25: 1,2171,217Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022862
Q4 2022934
Q1 2023928
Q2 2023951
Q3 2023947
Q4 20231,041
Q1 20241,077
Q2 20241,088
Q3 20241,106
Q4 20241,184
Q1 20251,177
Q2 20251,216
Q3 20251,217

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1k01kQ4 23: 487 bought or addedQ4 23: 366 cut or sold outQ1 24: 484 bought or addedQ1 24: 446 cut or sold outQ1 24Q2 24: 399 bought or addedQ2 24: 454 cut or sold outQ3 24: 510 bought or addedQ3 24: 436 cut or sold outQ3 24Q4 24: 503 bought or addedQ4 24: 490 cut or sold outQ1 25: 529 bought or addedQ1 25: 491 cut or sold outQ1 25Q2 25: 583 bought or addedQ2 25: 474 cut or sold outQ3 25: 552 bought or addedQ3 25: 504 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023487366
Q1 2024484446
Q2 2024399454
Q3 2024510436
Q4 2024503490
Q1 2025529491
Q2 2025583474
Q3 2025552504

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15mQ4 24 calls: $8.1mQ4 24 puts: $467.1kQ4 24P/C 0.06Q1 25 calls: $7.7mQ1 25 puts: $347.9kQ1 25P/C 0.05Q2 25 calls: $11.9mQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $7.5mQ3 25 puts: $275.1kQ3 25P/C 0.04
Numbers
QuarterCallsPutsP/C
Q4 2024$8.1m$467.1k0.06
Q1 2025$7.7m$347.9k0.05
Q2 2025$11.9m$00.00
Q3 2025$7.5m$275.1k0.04

Biggest buyers

REGIONS FINANCIAL CORP Added +9,238,938+9.2m
Arax Advisory Partners Added +3,877,998+3.9m
Weaver Capital Management LLC New +1,373,871+1.4m
REBALANCE, LLC Added +1,320,879+1.3m
JPMORGAN CHASE & CO Added +1,313,615+1.3m
Modern Wealth Management, LLC Added +1,228,327+1.2m
JANE STREET GROUP, LLC Added +725,408+725.4k
Savant Capital, LLC Added +556,198+556.2k
Quantinno Capital Management LP Added +432,498+432.5k
Walker Financial Services, Inc. New +427,492+427.5k

Biggest sellers

Gallagher Fiduciary Advisors, LLC Reduced -63,728,192-63.7m
NATIONAL BANK OF CANADA /FI/ Sold out -4,051,638-4.1m
ROYAL BANK OF CANADA Reduced -2,635,225-2.6m
Kestra Advisory Services, LLC Reduced -1,936,258-1.9m
Cape Investment Advisory, Inc. Reduced -1,570,252-1.6m
Wealthfront Advisers LLC Reduced -1,262,961-1.3m
ENVESTNET ASSET MANAGEMENT INC Reduced -901,208-901.2k
Siligmueller & Norvid Wealth Advisors LLC Sold out -865,959-866.0k
Compass Advisory Group LLC Reduced -498,110-498.1k
Rockefeller Capital Management L.P. Reduced -350,796-350.8k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.7m184.2k shares
CITADEL ADVISORS LLC Reduced $1.8m71.9k shares
JANE STREET GROUP, LLC New $861.3k33.5k shares
GROUP ONE TRADING LLC Reduced $16.1k600 shares

Biggest puts

LPL Financial LLC New $275.1k10.7k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Wealthfront Advisers LLC 3.33% of their portfolio Palo Alto, CA 55,097,98755.1m $1.4bn $1.4bn 3.33% Reduced -1.3m -1,262,961
2 Betterment LLC 0.84% of their portfolio NEW YORK, NY 16,504,11316.5m $424.3m $424.3m 0.84% Reduced -323.3k -323,285
3 REBALANCE, LLC 22.46% of their portfolio PALO ALTO, CA 14,480,06714.5m $372.3m $372.3m 22.46% Added +1.3m +1,320,879
4 SCS Capital Management LLC 3.42% of their portfolio BOSTON, MA 12,199,92312.2m $313.7m $313.7m 3.42% Reduced -23.5k -23,473
5 REGIONS FINANCIAL CORP 1.28% of their portfolio BIRMINGHAM, AL 9,256,9899.3m $394.9m $394.9m 1.28% Added +9.2m +9,238,938
6 Strid Group, LLC 28.48% of their portfolio NEWTOWN SQUARE, PA 8,716,2018.7m $224.1m $224.1m 28.48% Added +58.0k +57,964
7 Evensky & Katz LLC 12.67% of their portfolio CORAL GABLES, FL 8,492,9618.5m $218.4m $218.4m 12.67% Reduced -287.4k -287,371
8 HENGEHOLD CAPITAL MANAGEMENT LLC 18.56% of their portfolio CINCINNATI, OH 8,457,4638.5m $217.4m $217.4m 18.56% Added +6.7k +6,669
9 Bouchey Financial Group, Ltd. 16.48% of their portfolio TROY, NY 8,318,3868.3m $213.9m $213.9m 16.48% Added +42.5k +42,459
10 HighTower Advisors, LLC 0.23% of their portfolio CHICAGO, IL 7,776,9977.8m $199.9m $199.9m 0.23% Added +38.7k +38,658
11 HB Wealth Management, LLC 1.17% of their portfolio Atlanta, GA 6,694,0896.7m $172.1m $172.1m 1.17% Added +197.5k +197,532
12 Hanson & Doremus Investment Management 21.08% of their portfolio BURLINGTON, VT 6,514,0576.5m $167.5m $167.5m 21.08% Added +108.0k +107,961
13 Forvis Mazars Wealth Advisors, LLC 3.23% of their portfolio Springfield, MO 6,334,2106.3m $162.9m $162.9m 3.23% Added +85.4k +85,409
14 AlphaCore Capital LLC 5.31% of their portfolio LA JOLLA, CA 6,102,5646.1m $156.9m $156.9m 5.31% Added +149.1k +149,100
15 HT Partners LLC 47.85% of their portfolio CENTERBROOK, CT 6,088,3596.1m $156.5m $156.5m 47.85% Added +41.2k +41,200
16 HHM Wealth Advisors, LLC 15.48% of their portfolio CHATTANOOGA, TN 5,204,8865.2m $133.8m $133.8m 15.48% Reduced -263.4k -263,354
17 TruNorth Capital Management, LLC 25.79% of their portfolio KALAMAZOO, MI 5,071,3115.1m $130.4m $130.4m 25.79% Added +407.2k +407,152
18 Accredited Investors Inc. 6.89% of their portfolio EDINA, MN 4,805,9464.8m $123.6m $123.6m 6.89% Reduced -77.7k -77,736
19 Mariner, LLC 0.14% of their portfolio Overland Park, KS 4,289,9294.3m $110.3m $110.3m 0.14% Added +72.7k +72,719
20 Arax Advisory Partners 1.59% of their portfolio NEW YORK, NY 4,050,0684.1m $110.7m $110.7m 1.59% Added +3.9m +3,877,998
21 Morton Brown Family Wealth, LLC 28.25% of their portfolio ALLENTOWN, PA 3,829,0773.8m $98.4m $98.4m 28.25% Reduced -4.9k -4,855
22 Summit Financial Strategies, Inc. 7.81% of their portfolio Columbus, OH 3,542,1523.5m $91.1m $91.1m 7.81% Reduced -154.8k -154,753
23 MANCHESTER FINANCIAL INC 17.76% of their portfolio Westlake Village, CA 3,452,0313.5m $88.8m $88.8m 17.76% Reduced -78.6k -78,608
24 CAPTRUST FINANCIAL ADVISORS 0.18% of their portfolio RALEIGH, NC 3,387,4833.4m $87.1m $87.1m 0.18% Reduced -9.4k -9,360
25 Compass Financial Group, INC/SD 13.09% of their portfolio Sioux Falls, SD 3,386,5313.4m $87.1m $87.1m 13.09% Added +191.7k +191,729
26 Ballentine Partners, LLC 1.16% of their portfolio Waltham, MA 3,237,3533.2m $83.2m $83.2m 1.16% Reduced -34.9k -34,926
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,196,3333.2m $82.2m $82.2m 0.00% Reduced -10.2k -10,174
28 HBK Sorce Advisory LLC 2.03% of their portfolio ERIE, PA 3,147,1053.1m $80.9m $80.9m 2.03% Added +621 +621
29 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,137,6963.1m $80.7m $80.7m 0.01% Reduced -113.2k -113,232
30 Waverly Advisors, LLC 0.74% of their portfolio BIRMINGHAM, AL 2,892,7812.9m $74.4m $74.4m 0.74% Added +119.1k +119,089
31 Savant Capital, LLC 0.45% of their portfolio ROCKFORD, IL 2,863,4192.9m $73.6m $73.6m 0.45% Added +556.2k +556,198
32 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 2,829,2542.8m $72.7m $72.7m 0.02% Added +71.4k +71,357
33 Asset Advisors Investment Management, LLC 6.84% of their portfolio AUGUSTA, GA 2,809,8182.8m $72.2m $72.2m 6.84% Reduced -4.2k -4,184
34 MERCER GLOBAL ADVISORS INC /ADV 0.12% of their portfolio DENVER, CO 2,727,2242.7m $70.1m $70.1m 0.12% Reduced -143.2k -143,185
35 BROWN ADVISORY INC 0.09% of their portfolio BALTIMORE, MD 2,721,6832.7m $70.0m $70.0m 0.09% Reduced -16.5k -16,487
36 NORTH STAR ASSET MANAGEMENT INC 2.80% of their portfolio NEENAH, WI 2,687,6202.7m $69.1m $69.1m 2.80% Added +23.2k +23,164
37 Legacy Financial Strategies, LLC 12.46% of their portfolio OVERLAND PARK, KS 2,683,7532.7m $69.0m $69.0m 12.46% Added +138.0k +138,003
38 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,667,1212.7m $68.6m $68.6m 0.01% Reduced -2.6m -2,635,225
39 Circle Wealth Management, LLC 1.31% of their portfolio SUMMIT, NJ 2,610,4812.6m $67.1m $67.1m 1.31% Reduced -110.7k -110,666
40 D L CARLSON INVESTMENT GROUP INC 11.26% of their portfolio CONCORD, NH 2,609,5102.6m $67.1m $67.1m 11.26% Reduced -7.3k -7,342
41 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 1.00% of their portfolio MINNEAPOLIS, MN 2,467,1022.5m $63.4m $63.4m 1.00% Reduced -40.3k -40,306
42 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 2,455,9592.5m $63.4m $63.4m 0.10% Added +195.4k +195,411
43 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,436,3702.4m $62.6m $62.6m 0.00% Added +1.3m +1,313,615
44 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,419,8432.4m $62.2m $62.2m 0.01% Added +47.8k +47,831
45 MYECFO, LLC 28.28% of their portfolio La Jolla, CA 2,417,5532.4m $62.2m $62.2m 28.28% Added +18.5k +18,517
46 Winthrop Advisory Group LLC 5.19% of their portfolio BOSTON, MA 2,308,5532.3m $59.4m $59.4m 5.19% Added +23.2k +23,233
47 JONES FINANCIAL COMPANIES LLLP 0.04% of their portfolio DES PERES, MO 2,286,6942.3m $58.4m $58.4m 0.04% Added +173.1k +173,119
48 Creative Planning 0.04% of their portfolio OVERLAND PARK, KS 2,250,0922.3m $57.8m $57.8m 0.04% Added +14.2k +14,240
49 Caprock Group, LLC 1.35% of their portfolio BOISE, ID 2,204,7842.2m $55.0m $55.0m 1.35% First filing
50 Aptus Capital Advisors, LLC 0.50% of their portfolio FAIRHOPE, AL 2,141,4232.1m $55.1m $55.1m 0.50% Added +7.9k +7,903
51 Sunburst Financial Group, LLC 11.30% of their portfolio VESTAVIA HILLS, AL 2,086,8552.1m $53.7m $53.7m 11.30% Added +4.0k +4,006
52 Ethos Financial Group, LLC 4.18% of their portfolio KING OF PRUSSIA, PA 2,072,1812.1m $53.3m $53.3m 4.18% Added +12.2k +12,243
53 WBH ADVISORY INC 3.96% of their portfolio BALTIMORE, MD 2,019,0892.0m $51.9m $51.9m 3.96% Reduced -6.8k -6,790
54 Compass Advisory Group LLC 13.97% of their portfolio MELVILLE, NY 1,935,5211.9m $49.8m $49.8m 13.97% Reduced -498.1k -498,110
55 Bluespring Wealth Management, LLC 4.12% of their portfolio AUSTIN, TX 1,840,2571.8m $47.3m $47.3m 4.12% Reduced -24.1k -24,068
56 Capital Management Associates, Inc 12.35% of their portfolio MINNEAPOLIS, MN 1,777,4841.8m $45.7m $45.7m 12.35% Added +2.3k +2,343
57 Members Advisory Group LLC 16.06% of their portfolio WILLIAMSVILLE, NY 1,766,1141.8m $45.4m $45.4m 16.06% Reduced -4.1k -4,103
58 Quantinno Capital Management LP 0.12% of their portfolio NEW YORK, NY 1,667,0871.7m $42.9m $42.9m 0.12% Added +432.5k +432,498
59 Roundview Capital LLC 2.66% of their portfolio PRINCETON, NJ 1,636,6581.6m $42.1m $42.1m 2.66% Reduced -3.2k -3,204
60 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 1,581,8001.6m $40.7m $40.7m 0.06% Added +52.1k +52,125
61 Boulder Wealth Advisors, LLC 18.80% of their portfolio BOULDER, CO 1,572,7411.6m $40.4m $40.4m 18.80% First filing
62 Jaffetilchin Investment Partners, LLC 2.38% of their portfolio TAMPA, FL 1,544,5201.5m $39.7m $39.7m 2.38% Added +4.9k +4,945
63 Modern Wealth Management, LLC 0.77% of their portfolio KANSAS CITY, MO 1,518,9361.5m $39.1m $39.1m 0.77% Added +1.2m +1,228,327
64 Genesee Capital Advisors, LLC 16.17% of their portfolio AUBURN, NY 1,447,5631.4m $37.2m $37.2m 16.17% Reduced -66.8k -66,850
65 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,436,5891.4m $36.9m $36.9m 0.01% Added +97.3k +97,345
66 NorthCoast Asset Management LLC 0.14% of their portfolio STAMFORD, CT 1,414,8281.4m $36.4m $36.4m 0.14% Added +197.6k +197,626
67 Allworth Financial LP 0.16% of their portfolio FOLSOM, CA 1,404,4661.4m $36.1m $36.1m 0.16% Reduced -61.0k -60,993
68 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,403,7101.4m $36.1m $36.1m 0.01% Added +80.9k +80,899
69 Leading Edge Financial Planning LLC 9.00% of their portfolio KNOXVILLE, TN 1,394,4111.4m $35.9m $35.9m 9.00% Added +55.7k +55,692
70 OneDigital Investment Advisors LLC 0.36% of their portfolio OVERLAND PARK, KS 1,380,9461.4m $35.5m $35.5m 0.36% Reduced -132.2k -132,162
71 Weaver Capital Management LLC 7.70% of their portfolio SUWANEE, GA 1,373,8711.4m $35.3m $35.3m 7.70% New
72 Legacy Private Trust Co. 2.06% of their portfolio NEENAH, WI 1,339,1471.3m $34.4m $34.4m 2.06% Reduced -35.4k -35,417
73 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 1,312,7321.3m $33.8m $33.8m 0.09% Reduced -62.3k -62,291
74 JUNCTURE WEALTH STRATEGIES, LLC 10.97% of their portfolio SCOTTSDALE, AZ 1,273,1411.3m $32.7m $32.7m 10.97% Added +12.1k +12,092
75 Retirement Planning Group, LLC 1.10% of their portfolio LEAWOOD, KS 1,236,9241.2m $31.8m $31.8m 1.10% Reduced -300.2k -300,227
76 Shilanski & Associates, Inc. 8.40% of their portfolio ANCHORAGE, AK 1,229,7441.2m $31.6m $31.6m 8.40% Added +36.1k +36,062
77 BOYUM WEALTH ARCHITECTS LLC 19.41% of their portfolio BLOOMINGTON, MN 1,225,5211.2m $31.5m $31.5m 19.41% Added +114.8k +114,806
78 WT Wealth Management 9.04% of their portfolio SCOTTSDALE, AZ 1,221,3011.2m $31.4m $31.4m 9.04% Reduced -62.8k -62,768
79 John Boyer, Inc. 30.78% of their portfolio TAMPA, FL 1,200,8291.2m $30.9m $30.9m 30.78% First filing
80 Pegasus Asset Management, Inc. 9.60% of their portfolio MORRISTOWN, NJ 1,163,7281.2m $29.9m $29.9m 9.60% Reduced -12.9k -12,899
81 Gemmer Asset Management LLC 2.40% of their portfolio WALNUT CREEK, CA 1,154,8131.2m $29.7m $29.7m 2.40% Reduced -5.5k -5,497
82 Focus Partners Wealth 0.05% of their portfolio ST LOUIS, MO 1,140,2151.1m $29.3m $29.3m 0.05% Reduced -109.8k -109,821
83 Strategic Advisors LLC 4.71% of their portfolio New York, NY 1,133,9001.1m $29.2m $29.2m 4.71% Added +29.6k +29,561
84 Truepoint, Inc. 0.67% of their portfolio CINCINNATI, OH 1,128,4531.1m $29.0m $29.0m 0.67% Reduced -7.4k -7,358
85 Cerity Partners LLC 0.05% of their portfolio NEW YORK, NY 1,122,6401.1m $28.9m $28.9m 0.05% Reduced -20.6k -20,621
86 Goepper Burkhardt LLC 9.74% of their portfolio GREENVILLE, SC 1,111,4391.1m $28.6m $28.6m 9.74% Added +27.7k +27,735
87 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 1,098,9481.1m $28.3m $28.3m 0.18% Reduced -14.4k -14,394
88 VALLEY NATIONAL ADVISERS INC 4.29% of their portfolio BETHLEHEM, PA 1,077,0661.1m $27.7m $27.7m 4.29% Reduced -34.3k -34,335
89 FMR LLC 0.00% of their portfolio BOSTON, MA 1,076,5431.1m $27.7m $27.7m 0.00% Added +87.2k +87,240
90 GSG Advisors LLC 7.31% of their portfolio MOUNT LAUREL, NJ 1,070,7641.1m $27.6m $27.6m 7.31% Reduced -17.5k -17,484
91 Phil A. Younker & Associates, Ltd. 21.09% of their portfolio FAIRBANKS, AK 1,070,7241.1m $27.5m $27.5m 21.09% Added +146.6k +146,639
92 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 1.77% of their portfolio KNOXVILLE, TN 1,057,0061.1m $27.2m $27.2m 1.77% Reduced -7.2k -7,249
93 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.36% of their portfolio CINCINNATI, OH 1,045,5571.0m $26.9m $26.9m 0.36% Reduced -440 -440
94 Strategic Financial Planning, Inc. 15.54% of their portfolio PLANO, TX 1,043,2921.0m $26.8m $26.8m 15.54% Added +60.5k +60,494
95 Gallagher Fiduciary Advisors, LLC 0.98% of their portfolio ROLLING MEADOWS, IL 1,036,1321.0m $26.6m $26.6m 0.98% Reduced -63.7m -63,728,192
96 SYM FINANCIAL Corp 2.82% of their portfolio WINONA LAKE, IN 1,025,0401.0m $26.4m $26.4m 2.82% Added +3.3k +3,265
97 ROBINSON SMITH WEALTH ADVISORS LLC 18.81% of their portfolio South Portland, ME 1,019,3411.0m $26.2m $26.2m 18.81% Added +19.4k +19,394
98 Intelligence Driven Advisers, LLC 3.63% of their portfolio CARLSBAD, CA 1,017,1551.0m $26.2m $26.2m 3.63% Reduced -23.2k -23,170
99 Facet Wealth, Inc. 0.54% of their portfolio WEST PALM BEACH, FL 1,011,9461.0m $26.0m $26.0m 0.54% Reduced -1.6k -1,627
100 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,003,1131.0m $25.8m $25.8m 0.00% Reduced -77.8k -77,847