Vault-13

SCHWAB STRATEGIC TR SCHB

US BRD MKT ETF · ETP · CUSIP 808524102

1,318 institutional holders +101 vs Q3 2025
477,048,844477.0m shares reported held*
$12.5bnreported value*
71 new 486 added 476 reduced 37 sold out net sold ≈ $229.2m (-8.7m 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 ($51.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.24. Options: 4 managers hold calls ($9.5m notional), 1 hold puts ($393.4k).

Trends to Q4 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: 1,217Q4 25: 1,3181,318Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 20251,318

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 484 bought or addedQ1 24: 446 cut or sold outQ2 24: 399 bought or addedQ2 24: 454 cut or sold outQ2 24Q3 24: 510 bought or addedQ3 24: 436 cut or sold outQ4 24: 503 bought or addedQ4 24: 490 cut or sold outQ4 24Q1 25: 529 bought or addedQ1 25: 491 cut or sold outQ2 25: 583 bought or addedQ2 25: 474 cut or sold outQ2 25Q3 25: 552 bought or addedQ3 25: 504 cut or sold outQ4 25: 557 bought or addedQ4 25: 513 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024484446
Q2 2024399454
Q3 2024510436
Q4 2024503490
Q1 2025529491
Q2 2025583474
Q3 2025552504
Q4 2025557513

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ1 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 0.04Q4 25 calls: $9.5mQ4 25 puts: $393.4kQ4 25P/C 0.04
Numbers
QuarterCallsPutsP/C
Q1 2025$7.7m$347.9k0.05
Q2 2025$11.9m$00.00
Q3 2025$7.5m$275.1k0.04
Q4 2025$9.5m$393.4k0.04

Biggest buyers

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +2,953,826+3.0m
Gallagher Fiduciary Advisors, LLC Added +1,590,221+1.6m
Creative Planning Added +1,557,553+1.6m
Cape Investment Advisory, Inc. Added +1,551,606+1.6m
Focus Partners Wealth Added +1,485,838+1.5m
CWM, LLC Added +1,241,374+1.2m
Corient Private Wealth LP Added +898,759+898.8k
HighTower Advisors, LLC Added +854,800+854.8k
CAPTRUST FINANCIAL ADVISORS Added +849,417+849.4k
Rothschild Wealth LLC New +777,682+777.7k

Biggest sellers

REGIONS FINANCIAL CORP Reduced -9,238,938-9.2m
Bouchey Financial Group, Ltd. Reduced -5,765,462-5.8m
Arax Advisory Partners Reduced -3,866,498-3.9m
Wealthfront Advisers LLC Reduced -1,533,696-1.5m
NorthCoast Asset Management LLC Reduced -1,346,766-1.3m
Weaver Capital Management LLC Reduced -1,285,598-1.3m
JPMORGAN CHASE & CO Reduced -1,169,101-1.2m
HENGEHOLD CAPITAL MANAGEMENT LLC Reduced -731,216-731.2k
JANE STREET GROUP, LLC Reduced -554,096-554.1k
ENVESTNET ASSET MANAGEMENT INC Reduced -502,394-502.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.6m290.0k shares
CITADEL ADVISORS LLC Reduced $1.4m55.0k shares
JANE STREET GROUP, LLC Reduced $354.1k13.5k shares
GROUP ONE TRADING LLC Added $76.7k2.9k shares

Biggest puts

LPL Financial LLC Added $393.4k15.0k 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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Wealthfront Advisers LLC 3.14% of their portfolio Palo Alto, CA 53,564,29153.6m $1.4bn $1.4bn 3.14% Reduced -1.5m -1,533,696
2 Betterment LLC 0.81% of their portfolio NEW YORK, NY 16,156,26216.2m $423.8m $423.8m 0.81% Reduced -347.9k -347,851
3 REBALANCE, LLC 22.94% of their portfolio PALO ALTO, CA 14,963,21115.0m $392.5m $392.5m 22.94% Added +483.1k +483,144
4 SCS Capital Management LLC 3.31% of their portfolio BOSTON, MA 11,909,36811.9m $312.4m $312.4m 3.31% Reduced -290.6k -290,555
5 Strid Group, LLC 28.46% of their portfolio NEWTOWN SQUARE, PA 8,716,8188.7m $228.6m $228.6m 28.46% Added +617 +617
6 HighTower Advisors, LLC 0.25% of their portfolio CHICAGO, IL 8,631,7978.6m $226.4m $226.4m 0.25% Added +854.8k +854,800
7 Evensky & Katz LLC 12.25% of their portfolio CORAL GABLES, FL 8,280,8438.3m $217.2m $217.2m 12.25% Reduced -212.1k -212,118
8 HENGEHOLD CAPITAL MANAGEMENT LLC 17.07% of their portfolio CINCINNATI, OH 7,726,2477.7m $202.7m $202.7m 17.07% Reduced -731.2k -731,216
9 Hanson & Doremus Investment Management 22.09% of their portfolio BURLINGTON, VT 7,007,8727.0m $183.8m $183.8m 22.09% Added +493.8k +493,815
10 HB Wealth Management, LLC 1.14% of their portfolio Atlanta, GA 6,688,6196.7m $175.4m $175.4m 1.14% Reduced -5.5k -5,470
11 Forvis Mazars Wealth Advisors, LLC 3.07% of their portfolio Springfield, MO 6,193,8906.2m $162.5m $162.5m 3.07% Reduced -140.3k -140,320
12 Evergreen Advisors, LLC 39.45% of their portfolio CHATTANOOGA, TN 6,167,4356.2m $161.8m $161.8m 39.45% First filing
13 HT Partners LLC 47.44% of their portfolio CENTERBROOK, CT 6,082,7856.1m $159.6m $159.6m 47.44% Reduced -5.6k -5,574
14 AlphaCore Capital LLC 3.43% of their portfolio LA JOLLA, CA 5,810,4785.8m $152.4m $152.4m 3.43% Reduced -292.1k -292,086
15 TruNorth Capital Management, LLC 25.34% of their portfolio KALAMAZOO, MI 5,090,4295.1m $133.5m $133.5m 25.34% Added +19.1k +19,118
16 HHM Wealth Advisors, LLC 15.59% of their portfolio CHATTANOOGA, TN 5,037,6485.0m $132.1m $132.1m 15.59% Reduced -167.2k -167,238
17 Accredited Investors Inc. 6.57% of their portfolio EDINA, MN 4,719,5414.7m $123.8m $123.8m 6.57% Reduced -86.4k -86,405
18 Mariner, LLC 0.14% of their portfolio Overland Park, KS 4,454,3134.5m $116.8m $116.8m 0.14% Added +164.4k +164,384
19 CAPTRUST FINANCIAL ADVISORS 0.21% of their portfolio RALEIGH, NC 4,236,9004.2m $111.1m $111.1m 0.21% Added +849.4k +849,417
20 Morton Brown Family Wealth, LLC 27.48% of their portfolio ALLENTOWN, PA 3,847,4413.8m $100.9m $100.9m 27.48% Added +18.4k +18,364
21 Creative Planning 0.07% of their portfolio OVERLAND PARK, KS 3,807,6453.8m $99.9m $99.9m 0.07% Added +1.6m +1,557,553
22 Compass Financial Group, INC/SD 13.67% of their portfolio Sioux Falls, SD 3,648,6423.6m $95.7m $95.7m 13.67% Added +262.1k +262,111
23 MANCHESTER FINANCIAL INC 16.84% of their portfolio Westlake Village, CA 3,432,2683.4m $90.0m $90.0m 16.84% Reduced -19.8k -19,763
24 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,217,1493.2m $84.4m $84.4m 0.01% Added +20.8k +20,816
25 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 3,212,4833.2m $84.3m $84.3m 0.01% Added +74.8k +74,787
26 Ballentine Partners, LLC 1.18% of their portfolio Waltham, MA 3,209,2933.2m $84.2m $84.2m 1.18% Reduced -28.1k -28,060
27 Summit Financial Strategies, Inc. 6.86% of their portfolio Columbus, OH 3,183,0363.2m $83.5m $83.5m 6.86% Reduced -359.1k -359,116
28 HBK Sorce Advisory LLC 1.90% of their portfolio ERIE, PA 3,106,1343.1m $82.8m $82.8m 1.90% Reduced -41.0k -40,971
29 Waverly Advisors, LLC 0.64% of their portfolio BIRMINGHAM, AL 3,019,8663.0m $79.2m $79.2m 0.64% Added +127.1k +127,085
30 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 2,953,8263.0m $77.5m $77.5m 0.02% New
31 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 2,849,5302.8m $74.7m $74.7m 0.02% Added +20.3k +20,276
32 Asset Advisors Investment Management, LLC 6.80% of their portfolio AUGUSTA, GA 2,809,2362.8m $73.7m $73.7m 6.80% Reduced -582 -582
33 Savant Capital, LLC 0.42% of their portfolio ROCKFORD, IL 2,799,6042.8m $73.4m $73.4m 0.42% Reduced -63.8k -63,815
34 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 2,775,9602.8m $74.1m $74.1m 0.10% Added +320.0k +320,001
35 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,743,3562.7m $72.0m $72.0m 0.01% Added +76.2k +76,235
36 BROWN ADVISORY INC 0.10% of their portfolio BALTIMORE, MD 2,726,8692.7m $71.5m $71.5m 0.10% Added +5.2k +5,186
37 NORTH STAR ASSET MANAGEMENT INC 2.83% of their portfolio NEENAH, WI 2,676,2322.7m $70.2m $70.2m 2.83% Reduced -11.4k -11,388
38 MERCER GLOBAL ADVISORS INC /ADV 0.11% of their portfolio DENVER, CO 2,667,9042.7m $70.0m $70.0m 0.11% Reduced -59.3k -59,320
39 Gallagher Fiduciary Advisors, LLC 2.23% of their portfolio ROLLING MEADOWS, IL 2,626,3532.6m $68.9m $68.9m 2.23% Added +1.6m +1,590,221
40 Focus Partners Wealth 0.08% of their portfolio ST LOUIS, MO 2,626,0532.6m $68.9m $68.9m 0.08% Added +1.5m +1,485,838
41 Circle Wealth Management, LLC 1.06% of their portfolio SUMMIT, NJ 2,611,8612.6m $68.5m $68.5m 1.06% Added +1.4k +1,380
42 D L CARLSON INVESTMENT GROUP INC 11.49% of their portfolio CONCORD, NH 2,597,8622.6m $68.1m $68.1m 11.49% Reduced -11.6k -11,648
43 Legacy Financial Strategies, LLC 12.04% of their portfolio OVERLAND PARK, KS 2,593,2262.6m $68.0m $68.0m 12.04% Reduced -90.5k -90,527
44 Bouchey Financial Group, Ltd. 5.02% of their portfolio TROY, NY 2,552,9242.6m $67.0m $67.0m 5.02% Reduced -5.8m -5,765,462
45 MYECFO, LLC 27.62% of their portfolio La Jolla, CA 2,481,0492.5m $65.1m $65.1m 27.62% Added +63.5k +63,496
46 JONES FINANCIAL COMPANIES LLLP 0.04% of their portfolio DES PERES, MO 2,395,6332.4m $62.8m $62.8m 0.04% Added +108.9k +108,939
47 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.94% of their portfolio MINNEAPOLIS, MN 2,362,3552.4m $62.0m $62.0m 0.94% Reduced -104.7k -104,747
48 Winthrop Advisory Group LLC 5.10% of their portfolio BOSTON, MA 2,294,2382.3m $60.2m $60.2m 5.10% Reduced -14.3k -14,315
49 Aptus Capital Advisors, LLC 0.49% of their portfolio FAIRHOPE, AL 2,182,5052.2m $57.2m $57.2m 0.49% Added +41.1k +41,082
50 Sunburst Financial Group, LLC 11.28% of their portfolio VESTAVIA HILLS, AL 2,126,1762.1m $55.8m $55.8m 11.28% Added +39.3k +39,321
51 Caprock Group, LLC 1.15% of their portfolio BOISE, ID 2,083,2202.1m $54.6m $54.6m 1.15% Reduced -121.6k -121,564
52 WBH ADVISORY INC 3.95% of their portfolio BALTIMORE, MD 2,032,7712.0m $53.3m $53.3m 3.95% Added +13.7k +13,682
53 Quantinno Capital Management LP 0.11% of their portfolio NEW YORK, NY 1,993,1562.0m $52.3m $52.3m 0.11% Added +326.1k +326,069
54 Ethos Financial Group, LLC 3.79% of their portfolio KING OF PRUSSIA, PA 1,956,5072.0m $51.3m $51.3m 3.79% Reduced -115.7k -115,674
55 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,947,7601.9m $51.1m $51.1m 0.01% Reduced -472.1k -472,083
56 Compass Advisory Group LLC 13.68% of their portfolio MELVILLE, NY 1,930,5891.9m $50.6m $50.6m 13.68% Reduced -4.9k -4,932
57 Bluespring Wealth Management, LLC 4.08% of their portfolio AUSTIN, TX 1,806,9461.8m $47.4m $47.4m 4.08% Reduced -33.3k -33,311
58 Capital Management Associates, Inc 10.32% of their portfolio MINNEAPOLIS, MN 1,779,5491.8m $46.7m $46.7m 10.32% Added +2.1k +2,065
59 Cambridge Investment Research Advisors, Inc. 0.12% of their portfolio FAIRFIELD, IA 1,778,9731.8m $46.7m $46.7m 0.12% Added +466.2k +466,241
60 Roundview Capital LLC 2.73% of their portfolio PRINCETON, NJ 1,691,5501.7m $44.4m $44.4m 2.73% Added +54.9k +54,892
61 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 1,673,2541.7m $43.9m $43.9m 0.03% Added +898.8k +898,759
62 CWM, LLC 0.12% of their portfolio OMAHA, NE 1,648,7741.6m $43.2m $43.2m 0.12% Added +1.2m +1,241,374
63 Genesee Capital Advisors, LLC 17.30% of their portfolio AUBURN, NY 1,638,7471.6m $43.0m $43.0m 17.30% Added +191.2k +191,184
64 Members Advisory Group LLC 15.79% of their portfolio WILLIAMSVILLE, NY 1,597,0651.6m $41.9m $41.9m 15.79% Reduced -169.0k -169,049
65 Boulder Wealth Advisors, LLC 17.59% of their portfolio BOULDER, CO 1,586,3331.6m $41.6m $41.6m 17.59% Added +13.6k +13,592
66 TRUIST FINANCIAL CORP 0.06% of their portfolio CHARLOTTE, NC 1,576,0531.6m $41.3m $41.3m 0.06% Reduced -5.7k -5,747
67 Cape Investment Advisory, Inc. 12.62% of their portfolio MCDONOUGH, GA 1,564,3671.6m $41.0m $41.0m 12.62% Added +1.6m +1,551,606
68 Appalachian Capital Management Ltd 32.70% of their portfolio ST CLAIRSVILLE, OH 1,556,0421.6m $40.8m $40.8m 32.70% First filing
69 Jaffetilchin Investment Partners, LLC 2.37% of their portfolio TAMPA, FL 1,546,0211.5m $40.6m $40.6m 2.37% Added +1.5k +1,501
70 Leading Edge Financial Planning LLC 9.07% of their portfolio KNOXVILLE, TN 1,518,2711.5m $39.8m $39.8m 9.07% Added +123.9k +123,860
71 Modern Wealth Management, LLC 0.71% of their portfolio KANSAS CITY, MO 1,485,8501.5m $39.0m $39.0m 0.71% Reduced -33.1k -33,086
72 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,414,2411.4m $37.1m $37.1m 0.01% Added +10.5k +10,531
73 Allworth Financial LP 0.15% of their portfolio FOLSOM, CA 1,410,1151.4m $37.0m $37.0m 0.15% Added +5.6k +5,649
74 BOYUM WEALTH ARCHITECTS LLC 17.28% of their portfolio BLOOMINGTON, MN 1,388,7261.4m $37.0m $37.0m 17.28% Added +163.2k +163,205
75 Legacy Private Trust Co. 2.06% of their portfolio NEENAH, WI 1,332,5351.3m $35.0m $35.0m 2.06% Reduced -6.6k -6,612
76 OneDigital Investment Advisors LLC 0.34% of their portfolio OVERLAND PARK, KS 1,332,2911.3m $34.9m $34.9m 0.34% Reduced -48.7k -48,655
77 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,273,8781.3m $33.4m $33.4m 0.01% Reduced -162.7k -162,711
78 JUNCTURE WEALTH STRATEGIES, LLC 11.00% of their portfolio SCOTTSDALE, AZ 1,273,5391.3m $33.4m $33.4m 11.00% Added +398 +398
79 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,267,2691.3m $33.2m $33.2m 0.00% Reduced -1.2m -1,169,101
80 WT Wealth Management 9.00% of their portfolio SCOTTSDALE, AZ 1,193,2681.2m $31.3m $31.3m 9.00% Reduced -28.0k -28,033
81 SYM FINANCIAL Corp 3.21% of their portfolio WINONA LAKE, IN 1,192,2291.2m $31.3m $31.3m 3.21% Added +167.2k +167,189
82 Retirement Planning Group, LLC 1.02% of their portfolio LEAWOOD, KS 1,180,9681.2m $31.0m $31.0m 1.02% Reduced -56.0k -55,956
83 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,169,4881.2m $30.7m $30.7m 0.00% Added +166.4k +166,375
84 Pegasus Asset Management, Inc. 9.42% of their portfolio MORRISTOWN, NJ 1,167,1031.2m $30.6m $30.6m 9.42% Added +3.4k +3,375
85 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 1,165,1131.2m $30.6m $30.6m 0.18% Added +66.2k +66,165
86 Goepper Burkhardt LLC 9.82% of their portfolio GREENVILLE, SC 1,149,6011.1m $30.2m $30.2m 9.82% Added +38.2k +38,162
87 Phil A. Younker & Associates, Ltd. 20.82% of their portfolio FAIRBANKS, AK 1,138,3941.1m $29.9m $29.9m 20.82% Added +67.7k +67,670
88 John Boyer, Inc. 30.23% of their portfolio TAMPA, FL 1,131,4571.1m $29.7m $29.7m 30.23% Reduced -69.4k -69,372
89 AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio Greenwich, CT 1,131,2711.1m $29.7m $29.7m 0.02% Added +375.7k +375,683
90 Gemmer Asset Management LLC 2.27% of their portfolio WALNUT CREEK, CA 1,124,6121.1m $29.5m $29.5m 2.27% Reduced -30.2k -30,201
91 Cerity Partners LLC 0.04% of their portfolio NEW YORK, NY 1,120,5311.1m $29.4m $29.4m 0.04% Reduced -2.1k -2,109
92 Truepoint, Inc. 0.66% of their portfolio CINCINNATI, OH 1,116,6991.1m $29.3m $29.3m 0.66% Reduced -11.8k -11,754
93 Strategic Advisors LLC 4.56% of their portfolio New York, NY 1,111,1191.1m $29.1m $29.1m 4.56% Reduced -22.8k -22,781
94 VALLEY NATIONAL ADVISERS INC 4.00% of their portfolio BETHLEHEM, PA 1,102,0371.1m $28.9m $28.9m 4.00% Added +25.0k +24,971
95 GSG Advisors LLC 7.30% of their portfolio MOUNT LAUREL, NJ 1,078,4561.1m $28.3m $28.3m 7.30% Added +7.7k +7,692
96 ROBINSON SMITH WEALTH ADVISORS LLC 19.23% of their portfolio South Portland, ME 1,073,6121.1m $28.2m $28.2m 19.23% Added +54.3k +54,271
97 PATRIOT INVESTMENT MANAGEMENT GROUP, INC. 1.76% of their portfolio KNOXVILLE, TN 1,056,9931.1m $27.7m $27.7m 1.76% Reduced -13 -13
98 HARBOUR INVESTMENTS, INC. 0.55% of their portfolio MADISON, WI 1,028,1721.0m $27.0m $27.0m 0.55% Added +28.7k +28,701
99 Facet Wealth, Inc. 0.49% of their portfolio WEST PALM BEACH, FL 1,027,6391.0m $27.6m $27.6m 0.49% Added +15.7k +15,693
100 Beacon Pointe Advisors, LLC 0.18% of their portfolio NEWPORT BEACH, CA 1,002,6561.0m $26.3m $26.3m 0.18% Added +391.4k +391,373