Vault-13

SCHWAB STRATEGIC TR SCHG

US LCAP GR ETF · ETP · CUSIP 808524300

1,636 institutional holders +123 vs Q3 2025
866,021,104866.0m shares reported held*
$28.3bnreported value*
84 new 661 added 558 reduced 54 sold out net bought ≈ $621.1m (+18.8m 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 ($21.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $32.65. Options: 5 managers hold calls ($16.1m notional), 5 hold puts ($7.4m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 792Q4 22: 861Q1 23: 894Q2 23: 944Q3 23: 975Q4 23: 1,097Q1 24: 1,135Q2 24: 1,191Q3 24: 1,232Q4 24: 1,386Q1 25: 1,381Q2 25: 1,467Q3 25: 1,513Q4 25: 1,6361,636Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022792
Q4 2022861
Q1 2023894
Q2 2023944
Q3 2023975
Q4 20231,097
Q1 20241,135
Q2 20241,191
Q3 20241,232
Q4 20241,386
Q1 20251,381
Q2 20251,467
Q3 20251,513
Q4 20251,636

Buyers vs sellers

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

Bought or addedCut or sold out
1k01kQ1 24: 548 bought or addedQ1 24: 470 cut or sold outQ2 24: 549 bought or addedQ2 24: 450 cut or sold outQ2 24Q3 24: 595 bought or addedQ3 24: 491 cut or sold outQ4 24: 636 bought or addedQ4 24: 525 cut or sold outQ4 24Q1 25: 718 bought or addedQ1 25: 552 cut or sold outQ2 25: 786 bought or addedQ2 25: 517 cut or sold outQ2 25Q3 25: 755 bought or addedQ3 25: 581 cut or sold outQ4 25: 745 bought or addedQ4 25: 612 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024548470
Q2 2024549450
Q3 2024595491
Q4 2024636525
Q1 2025718552
Q2 2025786517
Q3 2025755581
Q4 2025745612

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ1 25 calls: $8.5mQ1 25 puts: $4.8mQ1 25P/C 0.57Q2 25 calls: $19.4mQ2 25 puts: $4.7mQ2 25P/C 0.24Q3 25 calls: $18.7mQ3 25 puts: $3.6mQ3 25P/C 0.19Q4 25 calls: $16.1mQ4 25 puts: $7.4mQ4 25P/C 0.46
Numbers
QuarterCallsPutsP/C
Q1 2025$8.5m$4.8m0.57
Q2 2025$19.4m$4.7m0.24
Q3 2025$18.7m$3.6m0.19
Q4 2025$16.1m$7.4m0.46

Biggest buyers

Focus Partners Wealth Added +5,728,214+5.7m
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +3,230,427+3.2m
Thrivent Financial for Lutherans Added +3,071,625+3.1m
BlueStem Wealth Partners, LLC New +2,823,123+2.8m
LPL Financial LLC Added +2,464,714+2.5m
ENVESTNET ASSET MANAGEMENT INC Added +2,435,513+2.4m
WELLS FARGO & COMPANY/MN Added +2,381,950+2.4m
Creative Planning Added +2,235,456+2.2m
Mariner, LLC Added +2,229,203+2.2m
Koshinski Asset Management, Inc. Added +2,106,262+2.1m

Biggest sellers

JPMORGAN CHASE & CO Reduced -8,328,968-8.3m
NorthCoast Asset Management LLC Sold out -5,701,018-5.7m
RMG Wealth Management LLC Reduced -4,948,421-4.9m
TWO SIGMA INVESTMENTS, LP Reduced -1,755,600-1.8m
Strategic Blueprint, LLC Reduced -1,680,969-1.7m
Financial Engines Advisors L.L.C. Reduced -1,604,897-1.6m
OSAIC HOLDINGS, INC. Reduced -1,149,933-1.1m
COMMONWEALTH EQUITY SERVICES, LLC Reduced -1,095,032-1.1m
FINANCIAL COUNSELORS INC Sold out -740,237-740.2k
OBSIDIAN CIO, LLC Reduced -681,350-681.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.2m219.8k shares
CITADEL ADVISORS LLC Reduced $3.8m115.7k shares
JANE STREET GROUP, LLC Added $3.7m114.4k shares
IMC-Chicago, LLC Added $1.4m43.2k shares
GROUP ONE TRADING LLC Reduced $45.7k1.4k shares

Biggest puts

Kovack Advisors, Inc. New $3.3m100.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $2.4m73.5k shares
JANE STREET GROUP, LLC Added $1.1m34.8k shares
CITADEL ADVISORS LLC Added $538.2k16.5k shares
Weaver Capital Management LLC Reduced $104.4k3.2k 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 ENVESTNET ASSET MANAGEMENT INC 0.62% of their portfolio Berwyn, PA 64,327,20364.3m $2.1bn $2.1bn 0.62% Added +2.4m +2,435,513
2 SEI INVESTMENTS CO 1.42% of their portfolio OAKS, PA 44,207,93944.2m $1.4bn $1.4bn 1.42% Reduced -242.9k -242,930
3 MATHER GROUP, LLC. 14.05% of their portfolio CHICAGO, IL 41,810,55041.8m $1.4bn $1.4bn 14.05% Reduced -357.8k -357,792
4 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.19% of their portfolio SAN FRANCISCO, CA 37,744,87237.7m $1.2bn $1.2bn 0.19% Added +3.2m +3,230,427
5 LPL Financial LLC 0.30% of their portfolio FORT MILL, SC 34,166,65434.2m $1.1bn $1.1bn 0.30% Added +2.5m +2,464,714
6 Financial Engines Advisors L.L.C. 2.10% of their portfolio SANTA CLARA, CA 33,984,23234.0m $1.1bn $1.1bn 2.10% Reduced -1.6m -1,604,897
7 Mariner, LLC 0.78% of their portfolio Overland Park, KS 20,078,59220.1m $655.0m $655.0m 0.78% Added +2.2m +2,229,203
8 OSAIC HOLDINGS, INC. 0.87% of their portfolio SCOTTSDALE, AZ 18,282,95318.3m $596.4m $596.4m 0.87% Reduced -1.1m -1,149,933
9 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 17,605,05417.6m $574.0m $574.0m 0.13% Added +884.7k +884,737
10 VANTAGEPOINT INVESTMENT ADVISERS LLC 4.48% of their portfolio WASHINGTON, DC 17,067,49417.1m $556.7m $556.7m 4.48% Added +1.0m +1,038,388
11 Cetera Investment Advisers 0.60% of their portfolio SCHAUMBURG, IL 16,960,26717.0m $553.2m $553.2m 0.60% Added +1.6m +1,572,946
12 RAYMOND JAMES FINANCIAL INC 0.15% of their portfolio ST. PETERSBURG, FL 14,890,93414.9m $485.7m $485.7m 0.15% Added +374.2k +374,218
13 Avantax Planning Partners, Inc. 13.59% of their portfolio DUBUQUE, IA 14,890,53314.9m $485.7m $485.7m 13.59% Reduced -123.8k -123,778
14 MML INVESTORS SERVICES, LLC 0.93% of their portfolio SPRINGFIELD, MA 11,726,42511.7m $382.5m $382.5m 0.93% Added +1.6m +1,552,141
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.22% of their portfolio MILWAUKEE, WI 10,572,06310.6m $344.9m $344.9m 0.22% Added +544.5k +544,507
16 Fund Evaluation Group, LLC 10.19% of their portfolio CINCINNATI, OH 9,445,5869.4m $308.2m $308.2m 10.19% Reduced -207.3k -207,306
17 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 8,820,7378.8m $287.7m $287.7m 0.02% Reduced -43.5k -43,550
18 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 8,546,5448.5m $278.8m $278.8m 0.02% Added +154.4k +154,410
19 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 8,443,9888.4m $275.4m $275.4m 0.02% Reduced -8.3m -8,328,968
20 HighTower Advisors, LLC 0.30% of their portfolio CHICAGO, IL 8,369,4178.4m $273.0m $273.0m 0.30% Added +236.7k +236,668
21 CWM, LLC 0.66% of their portfolio OMAHA, NE 7,458,6127.5m $243.3m $243.3m 0.66% Added +156.0k +155,983
22 McAdam, LLC 10.83% of their portfolio Philadelphia, PA 7,256,9747.3m $236.7m $236.7m 10.83% Added +242.8k +242,784
23 OneDigital Investment Advisors LLC 2.29% of their portfolio OVERLAND PARK, KS 7,168,2497.2m $233.8m $233.8m 2.29% Reduced -224.8k -224,767
24 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 6,783,9336.8m $221.3m $221.3m 0.04% Added +2.4m +2,381,950
25 Focus Partners Wealth 0.25% of their portfolio ST LOUIS, MO 6,602,2516.6m $215.3m $215.3m 0.25% Added +5.7m +5,728,214
26 MONETA GROUP INVESTMENT ADVISORS LLC 1.41% of their portfolio ST LOUIS, MO 5,729,9585.7m $186.9m $186.9m 1.41% Reduced -138.0k -138,011
27 Thrive Wealth Management, LLC 23.60% of their portfolio AUDUBON, PA 4,922,5274.9m $160.6m $160.6m 23.60% Reduced -45.7k -45,663
28 Focus Financial Network, Inc. 5.41% of their portfolio MINNEAPOLIS, MN 4,761,7844.8m $155.3m $155.3m 5.41% Added +18.8k +18,770
29 Clark Capital Management Group, Inc. 0.91% of their portfolio PHILADELPHIA, PA 4,560,9514.6m $148.8m $148.8m 0.91% Added +201.1k +201,100
30 Marquette Asset Management, LLC 20.44% of their portfolio MINNEAPOLIS, MN 4,244,2364.2m $138.4m $138.4m 20.44% Reduced -51.9k -51,858
31 Creative Planning 0.10% of their portfolio OVERLAND PARK, KS 4,214,5394.2m $137.5m $137.5m 0.10% Added +2.2m +2,235,456
32 Golden Reserve Retirement LLC 24.74% of their portfolio DUBLIN, OH 4,107,5534.1m $134.0m $134.0m 24.74% Added +519.2k +519,203
33 COMMONWEALTH EQUITY SERVICES, LLC 0.17% of their portfolio WALTHAM, MA 3,860,3763.9m $125.9m $125.9m 0.17% Reduced -1.1m -1,095,032
34 PARK AVENUE SECURITIES LLC 1.01% of their portfolio NEW YORK, NY 3,646,6173.6m $119.0m $119.0m 1.01% Added +413.6k +413,587
35 Beacon Pointe Advisors, LLC 0.83% of their portfolio NEWPORT BEACH, CA 3,639,5463.6m $118.7m $118.7m 0.83% Reduced -3.7k -3,686
36 HHM Wealth Advisors, LLC 13.40% of their portfolio CHATTANOOGA, TN 3,482,6863.5m $113.6m $113.6m 13.40% Reduced -132.6k -132,594
37 Krilogy Financial LLC 3.83% of their portfolio ST. LOUIS, MO 3,465,0693.5m $112.5m $112.5m 3.83% Added +246.6k +246,591
38 TRUIST FINANCIAL CORP 0.14% of their portfolio CHARLOTTE, NC 3,235,9993.2m $105.6m $105.6m 0.14% Added +20.9k +20,900
39 Cambridge Investment Research Advisors, Inc. 0.28% of their portfolio FAIRFIELD, IA 3,233,0073.2m $105.5m $105.5m 0.28% Reduced -50.4k -50,423
40 Lido Advisors, LLC 0.40% of their portfolio Los Angeles, CA 3,173,9623.2m $102.1m $102.1m 0.40% Added +697.9k +697,937
41 Thrivent Financial for Lutherans 0.18% of their portfolio Minneapolis, MN 3,110,4593.1m $101.5m $101.5m 0.18% Added +3.1m +3,071,625
42 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.14% of their portfolio PLYMOUTH, MN 3,109,5363.1m $102.1m $102.1m 0.14% Added +24.8k +24,783
43 RAINEY & RANDALL WEALTH ADVISORS INC. 16.48% of their portfolio Celebration, FL 3,096,7743.1m $101.0m $101.0m 16.48% Added +11.4k +11,370
44 Cerity Partners LLC 0.15% of their portfolio NEW YORK, NY 3,065,4473.1m $100.0m $100.0m 0.15% Added +20.7k +20,681
45 ASSETMARK, INC 0.19% of their portfolio CONCORD, CA 2,901,3752.9m $94.6m $94.6m 0.19% Reduced -183.0k -183,041
46 Legacy Financial Strategies, LLC 16.48% of their portfolio OVERLAND PARK, KS 2,853,0672.9m $93.1m $93.1m 16.48% Reduced -56.2k -56,217
47 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.56% of their portfolio IRVING, TX 2,847,9632.8m $92.9m $92.9m 0.56% Added +887.6k +887,615
48 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 2,831,7442.8m $92.4m $92.4m 0.02% Reduced -34.2k -34,229
49 BlueStem Wealth Partners, LLC 10.17% of their portfolio MINNETONKA, MN 2,823,1232.8m $92.1m $92.1m 10.17% New
50 UBS Group AG 0.02% of their portfolio ZURICH, V8 2,787,8612.8m $90.9m $90.9m 0.02% Added +627.9k +627,864
51 Gemmer Asset Management LLC 6.79% of their portfolio WALNUT CREEK, CA 2,702,3342.7m $88.2m $88.2m 6.79% Added +694.0k +694,019
52 Waverly Advisors, LLC 0.67% of their portfolio BIRMINGHAM, AL 2,523,3612.5m $82.3m $82.3m 0.67% Added +124.2k +124,241
53 Savvy Advisors, Inc. 2.50% of their portfolio NEW YORK, NY 2,371,1282.4m $77.3m $77.3m 2.50% Added +734.0k +734,008
54 ANGELES WEALTH MANAGEMENT, LLC 4.20% of their portfolio SANTA MONICA, CA 2,336,8252.3m $76.2m $76.2m 4.20% Added +157.2k +157,177
55 Berger Financial Group, Inc 4.34% of their portfolio PLYMOUTH, MN 2,295,4282.3m $74.9m $74.9m 4.34% Added +27.6k +27,587
56 HRC WEALTH MANAGEMENT, LLC 35.12% of their portfolio Moscow, ID 2,248,0632.2m $73.3m $73.3m 35.12% Reduced -21.7k -21,710
57 MAI Capital Management 0.42% of their portfolio INDEPENDENCE, OH 2,242,1822.2m $73.1m $73.1m 0.42% Reduced -16.1k -16,117
58 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 2,175,1212.2m $71.0m $71.0m 0.06% Reduced -7.8k -7,754
59 Brio Consultants, LLC 9.05% of their portfolio SAN FRANCISCO, CA 2,135,1842.1m $69.6m $69.6m 9.05% Reduced -79.3k -79,263
60 Kestra Advisory Services, LLC 0.28% of their portfolio AUSTIN, TX 2,112,9172.1m $68.9m $68.9m 0.28% Added +291.5k +291,480
61 Koshinski Asset Management, Inc. 4.42% of their portfolio DECATUR, IL 2,106,2622.1m $68.7m $68.7m 4.42% Added +2.1m +2,106,262
62 Compound Planning, Inc. 2.02% of their portfolio NEW YORK, NY 2,097,8172.1m $68.4m $68.4m 2.02% Reduced -30.5k -30,473
63 Envestnet Portfolio Solutions, Inc. 0.22% of their portfolio BERWYN, PA 1,952,0242.0m $63.7m $63.7m 0.22% Added +192.7k +192,666
64 Nadler Financial Group, Inc. 5.85% of their portfolio DEERFIELD, IL 1,927,5771.9m $62.9m $62.9m 5.85% Added +11.8k +11,754
65 Belpointe Asset Management LLC 2.18% of their portfolio RENO, NV 1,849,9211.8m $60.3m $60.3m 2.18% Added +28.8k +28,787
66 Kelman-Lazarov, Inc. 8.55% of their portfolio MEMPHIS, TN 1,834,8231.8m $59.9m $59.9m 8.55% Reduced -21.9k -21,942
67 HB Wealth Management, LLC 0.39% of their portfolio Atlanta, GA 1,834,7181.8m $59.8m $59.8m 0.39% Reduced -5.1k -5,135
68 Financial Management Professionals, Inc. 6.17% of their portfolio AUSTIN, TX 1,832,8351.8m $59.8m $59.8m 6.17% Reduced -164.7k -164,691
69 BIP Wealth, LLC 2.05% of their portfolio ATLANTA, GA 1,779,5031.8m $58.0m $58.0m 2.05% Added +1.7m +1,746,355
70 Bleakley Financial Group, LLC 1.01% of their portfolio PARSIPPANY, NJ 1,776,1121.8m $57.9m $57.9m 1.01% Added +43.2k +43,243
71 EXCHANGE TRADED CONCEPTS, LLC 0.48% of their portfolio Oklahoma City, OK 1,764,1161.8m $57.5m $57.5m 0.48% Added +237.6k +237,594
72 Midwest Trust Co 0.72% of their portfolio Overland Park, KS 1,763,8561.8m $57.5m $57.5m 0.72% Added +192.6k +192,625
73 Charles Schwab Trust Co 3.76% of their portfolio HENDERSON, NV 1,753,2221.8m $57.2m $57.2m 3.76% Added +30.9k +30,853
74 Northern Capital Management, Inc. 30.05% of their portfolio SPOKANE, WA 1,743,3731.7m $56.9m $56.9m 30.05% Reduced -38.5k -38,455
75 Merit Financial Group, LLC 0.45% of their portfolio ALPHARETTA, GA 1,731,6541.7m $56.5m $56.5m 0.45% Reduced -102.4k -102,376
76 Main Street Financial Solutions, LLC 4.06% of their portfolio NEWTOWN, PA 1,661,4361.7m $54.2m $54.2m 4.06% Reduced -238.7k -238,692
77 Cornerstone Wealth Advisors, Inc. 12.35% of their portfolio EDINA, MN 1,628,5041.6m $53.1m $53.1m 12.35% Reduced -36.7k -36,741
78 Schneider Downs Wealth Management Advisors, LP 5.92% of their portfolio Pittsburgh, PA 1,609,2841.6m $52.5m $52.5m 5.92% Added +5.4k +5,408
79 BURKETT FINANCIAL SERVICES, LLC 17.81% of their portfolio ROCK HILL, SC 1,599,6261.6m $52.2m $52.2m 17.81% Reduced -62.2k -62,199
80 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.77% of their portfolio MINNEAPOLIS, MN 1,565,1801.6m $51.1m $51.1m 0.77% Reduced -31.9k -31,926
81 Focus Partners Advisor Solutions, LLC 0.62% of their portfolio SAINT LOUIS, MO 1,557,9831.6m $50.8m $50.8m 0.62% Added +77.8k +77,827
82 Tradition Wealth Management, LLC 3.64% of their portfolio EDINA, MN 1,556,1451.6m $50.8m $50.8m 3.64% Reduced -29.7k -29,658
83 Prime Capital Investment Advisors, LLC 0.61% of their portfolio OVERLAND PARK, KS 1,540,4461.5m $50.2m $50.2m 0.61% Reduced -64.4k -64,362
84 SUMMIT WEALTH & RETIREMENT PLANNING, INC. 11.74% of their portfolio EAGLE, ID 1,528,4941.5m $49.9m $49.9m 11.74% Reduced -25.7k -25,747
85 XML Financial, LLC 4.00% of their portfolio BETHESDA, MD 1,501,6571.5m $49.0m $49.0m 4.00% Reduced -87.0k -87,024
86 Triton Wealth Management, PLLC 17.62% of their portfolio SUN CITY, AZ 1,495,2381.5m $46.8m $46.8m 17.62% Reduced -121.8k -121,848
87 CAPTRUST FINANCIAL ADVISORS 0.09% of their portfolio RALEIGH, NC 1,468,7371.5m $47.9m $47.9m 0.09% Reduced -46.7k -46,690
88 GHP Investment Advisors, Inc. 1.95% of their portfolio Denver, CO 1,454,7741.5m $47.5m $47.5m 1.95% Reduced -5.5k -5,527
89 Rollins Financial Advisors, LLC 6.78% of their portfolio ATLANTA, GA 1,415,9261.4m $46.2m $46.2m 6.78% Reduced -67.8k -67,799
90 Summit Asset Management, LLC 6.46% of their portfolio MEMPHIS, TN 1,399,0241.4m $45.6m $45.6m 6.46% Added +9.7k +9,699
91 Ausdal Financial Partners, Inc. 2.10% of their portfolio Davenport, IA 1,386,6081.4m $45.2m $45.2m 2.10% Added +16.3k +16,344
92 Goepper Burkhardt LLC 14.61% of their portfolio GREENVILLE, SC 1,374,7161.4m $44.8m $44.8m 14.61% Added +36.0k +36,040
93 PRINCIPAL SECURITIES, INC. 0.68% of their portfolio DES MOINES, IA 1,359,1011.4m $44.3m $44.3m 0.68% Added +79.1k +79,137
94 Visionary Wealth Advisors 1.96% of their portfolio O'FALLON, IL 1,331,8131.3m $43.4m $43.4m 1.96% Added +16.3k +16,314
95 Veery Capital, LLC 13.19% of their portfolio Wilmington, DE 1,317,7311.3m $43.0m $43.0m 13.19% Reduced -15.2k -15,243
96 AFFINITY WEALTH LLC 29.14% of their portfolio CANTON, OH 1,305,4841.3m $42.6m $42.6m 29.14% Added +99.1k +99,093
97 Financial Advisors Network, Inc. 5.80% of their portfolio TUSTIN, CA 1,298,1231.3m $42.3m $42.3m 5.80% Added +32.2k +32,195
98 Provident Wealth Management, LLC 12.38% of their portfolio BRENTWOOD, TN 1,281,4531.3m $41.8m $41.8m 12.38% Reduced -4.8k -4,764
99 Vestwell Advisors, LLC 6.01% of their portfolio NEW YORK, NY 1,247,8921.2m $40.7m $40.7m 6.01% Added +79.3k +79,342
100 Financial Synergies Wealth Advisors, Inc. 3.83% of their portfolio HOUSTON, TX 1,215,1601.2m $39.6m $39.6m 3.83% Reduced -4.8k -4,803