Vault-13

SCHWAB STRATEGIC TR SCMB

MUN BD ETF · ETP · CUSIP 808524649

151 institutional holders +22 vs Q3 2025
79,645,83779.6m shares reported held*
$2.1bnreported value*
29 new 75 added 20 reduced 13 sold out net bought ≈ $133.8m (+5.2m 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 ($1.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $25.76.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q4 22: 19Q1 23: 26Q2 23: 27Q3 23: 30Q4 23: 52Q1 24: 49Q2 24: 63Q3 24: 69Q4 24: 86Q1 25: 87Q2 25: 111Q3 25: 129Q4 25: 151151Q4 22Q3 23Q2 24Q1 25Q4 25
Numbers
QuarterHolders
Q4 202219
Q1 202326
Q2 202327
Q3 202330
Q4 202352
Q1 202449
Q2 202463
Q3 202469
Q4 202486
Q1 202587
Q2 2025111
Q3 2025129
Q4 2025151

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 33 bought or addedQ1 24: 22 cut or sold outQ2 24: 39 bought or addedQ2 24: 13 cut or sold outQ2 24Q3 24: 46 bought or addedQ3 24: 20 cut or sold outQ4 24: 77 bought or addedQ4 24: 6 cut or sold outQ4 24Q1 25: 55 bought or addedQ1 25: 27 cut or sold outQ2 25: 76 bought or addedQ2 25: 32 cut or sold outQ2 25Q3 25: 85 bought or addedQ3 25: 32 cut or sold outQ4 25: 104 bought or addedQ4 25: 33 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243322
Q2 20243913
Q3 20244620
Q4 2024776
Q1 20255527
Q2 20257632
Q3 20258532
Q4 202510433

Biggest buyers

CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +5,793,290+5.8m
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +348,114+348.1k
JONES FINANCIAL COMPANIES LLLP Added +325,435+325.4k
Charles Schwab Trust Co Added +113,942+113.9k
Pallas Capital Advisors LLC Added +113,208+113.2k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +91,233+91.2k
UNITED CAPITAL FINANCIAL ADVISORS, LLC Added +76,770+76.8k
ROYAL BANK OF CANADA Added +74,540+74.5k
SMITH, MOORE & CO. Added +64,425+64.4k
Values Added Financial LLC New +49,293+49.3k

Biggest sellers

JPMORGAN CHASE & CO Reduced -1,668,563-1.7m
ENVESTNET ASSET MANAGEMENT INC Reduced -283,148-283.1k
JANE STREET GROUP, LLC Sold out -256,035-256.0k
OLD MISSION CAPITAL LLC Sold out -210,281-210.3k
GOLDMAN SACHS GROUP INC Reduced -106,485-106.5k
Torrey Growth & Income Advisors Reduced -64,170-64.2k
Avidian Wealth Enterprises, LLC Reduced -41,555-41.6k
VanderPol Investments L.L.C. Sold out -24,975-25.0k
Elequin Capital, LP Reduced -23,468-23.5k
Creative Planning Reduced -19,835-19.8k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.26% of their portfolio SAN FRANCISCO, CA 65,617,52065.6m $1.7bn $1.7bn 0.26% Added +5.8m +5,793,290
2 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 2,100,2892.1m $54.1m $54.1m 0.03% Added +325.4k +325,435
3 Avidian Wealth Enterprises, LLC 1.41% of their portfolio Houston, TX 1,506,4001.5m $38.8m $38.8m 1.41% Reduced -41.6k -41,555
4 Charles Schwab Trust Co 1.55% of their portfolio HENDERSON, NV 916,075916.1k $23.6m $23.6m 1.55% Added +113.9k +113,942
5 Pallas Capital Advisors LLC 0.76% of their portfolio BRAINTREE, MA 894,144894.1k $23.0m $23.0m 0.76% Added +113.2k +113,208
6 Fort Point Capital Partners LLC 2.39% of their portfolio San Francisco, CA 762,050762.0k $19.8m $19.8m 2.39% Added +42.6k +42,573
7 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.10% of their portfolio IRVING, TX 646,753646.8k $16.7m $16.7m 0.10% Added +76.8k +76,770
8 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 635,726635.7k $16.4m $16.4m 0.00% Added +32.7k +32,741
9 Wedmont Private Capital 0.44% of their portfolio WEST CHESTER, PA 492,383492.4k $12.7m $12.7m 0.44% Added +3.0k +3,031
10 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 489,805489.8k $12.7m $12.7m 0.02% Added +348.1k +348,114
11 CGN Advisors LLC 0.60% of their portfolio MANHATTAN, KS 294,181294.2k $7.6m $7.6m 0.60% Added +22.5k +22,520
12 RWA WEALTH PARTNERS, LLC 0.07% of their portfolio BOSTON, MA 241,215241.2k $6.2m $6.2m 0.07% Added +42.3k +42,297
13 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 208,318208.3k $5.4m $5.4m 0.01% Added +17.4k +17,385
14 Beaird Harris Wealth Management, LLC 0.36% of their portfolio DALLAS, TX 204,462204.5k $5.3m $5.3m 0.36% Reduced -6.2k -6,200
15 Perigon Wealth Management, LLC 0.09% of their portfolio SAN FRANCISCO, CA 195,744195.7k $5.0m $5.0m 0.09% Added +12.3k +12,270
16 MYECFO, LLC 1.89% of their portfolio La Jolla, CA 172,440172.4k $4.4m $4.4m 1.89% Added +22.7k +22,740
17 SMITH, MOORE & CO. 0.31% of their portfolio CLAYTON, MO 157,865157.9k $4.1m $4.1m 0.31% Added +64.4k +64,425
18 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 156,657156.7k $4.0m $4.0m 0.00% Added +74.5k +74,540
19 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 155,048155.0k $4.0m $4.0m 0.01% Added +13.0k +12,992
20 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 145,037145.0k $3.7m $3.7m 0.00% Reduced -283.1k -283,148
21 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 136,069136.1k $3.5m $3.5m 0.00% Reduced -1.7m -1,668,563
22 CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC 0.54% of their portfolio BETHLEHEM, PA 129,240129.2k $3.3m $3.3m 0.54% Added +44.0k +44,037
23 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 127,350127.3k $3.3m $3.3m 0.00% Added +91.2k +91,233
24 PURE PORTFOLIOS HOLDINGS LLC 0.95% of their portfolio LAKE OSWEGO, OR 122,608122.6k $3.2m $3.2m 0.95% Added +2.3k +2,345
25 Torrey Growth & Income Advisors 1.01% of their portfolio DEL MAR, CA 112,292112.3k $2.9m $2.9m 1.01% Reduced -64.2k -64,170
26 MANNING & NAPIER ADVISORS LLC 0.04% of their portfolio Fairport, NY 107,109107.1k $2.8m $2.8m 0.04% Added +26.0k +26,020
27 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 95,64595.6k $2.5m $2.5m 0.00% Added +3.9k +3,880
28 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 83,72483.7k $2.2m $2.2m 0.00% Added +20.6k +20,623
29 Investment Planning Advisors, Inc. 0.62% of their portfolio CUMMING, GA 82,33182.3k $2.1m $2.1m 0.62% Added +13.5k +13,515
30 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 80,00080.0k $2.1m $2.1m 0.00% Unchanged
31 O'ROURKE & COMPANY, Inc 0.74% of their portfolio BOSTON, MA 73,97074.0k $1.9m $1.9m 0.74% Added +2.2k +2,185
32 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 73,40673.4k $1.9m $1.9m 0.00% Added +19.8k +19,787
33 DONALDSON CAPITAL MANAGEMENT, LLC 0.06% of their portfolio EVANSVILLE, IN 71,79271.8k $1.8m $1.8m 0.06% Unchanged
34 Breakwater Investment Management 0.63% of their portfolio SEATTLE, WA 68,10068.1k $1.8m $1.8m 0.63% Added +28.1k +28,094
35 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 66,79866.8k $1.7m $1.7m 0.00% Added +24.5k +24,500
36 GREAT VALLEY ADVISOR GROUP, INC. 0.03% of their portfolio WILMINGTON, DE 65,92465.9k $1.7m $1.7m 0.03% Added +2.4k +2,380
37 Mariner, LLC 0.00% of their portfolio Overland Park, KS 64,20864.2k $1.7m $1.7m 0.00% Added +48.1k +48,113
38 Ackerman Capital Advisors, LLC 0.33% of their portfolio DALLAS, TX 63,11463.1k $1.6m $1.6m 0.33% Reduced -4.8k -4,800
39 CREATIVE FINANCIAL DESIGNS INC /ADV 0.10% of their portfolio KOKOMO, IN 58,79758.8k $1.5m $1.5m 0.10% Reduced -2.5k -2,534
40 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 58,75558.8k $1.5m $1.5m 0.00% Unchanged
41 TSA Wealth Managment LLC 0.50% of their portfolio HOUSTON, TX 58,60058.6k $1.5m $1.5m 0.50% Added +3.9k +3,856
42 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 57,97258.0k $1.5m $1.5m 0.00% Added +8.2k +8,174
43 Compass Financial Group, INC/SD 0.21% of their portfolio Sioux Falls, SD 57,24457.2k $1.5m $1.5m 0.21% Added +24.3k +24,251
44 Meridian Wealth Management, LLC 0.05% of their portfolio LEXINGTON, KY 53,16853.2k $1.4m $1.4m 0.05% Added +1.3k +1,303
45 Columbus Macro, LLC 0.15% of their portfolio NEW CASTLE, PA 53,07653.1k $1.4m $1.4m 0.15% Added +10.2k +10,245
46 CORE WEALTH ADVISORS, LLC 1.02% of their portfolio INDIANAPOLIS, IN 50,29550.3k $1.3m $1.3m 1.02% First filing
47 Values Added Financial LLC 0.54% of their portfolio WASHINGTON, DC 49,29349.3k $1.3m $1.3m 0.54% New
48 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 43,60343.6k $1.1m $1.1m 0.03% Added +30.8k +30,798
49 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 43,24043.2k $1.1m $1.1m 0.00% Added +2.6k +2,552
50 Francis Financial, Inc. 0.22% of their portfolio NEW YORK, NY 42,67142.7k $1.1m $1.1m 0.22% Unchanged
51 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 42,56542.6k $1.1m $1.1m 0.00% Reduced -19.8k -19,835
52 Northeast Financial Group, Inc. 0.26% of their portfolio Allentown, PA 40,04340.0k $1.0m $1.0m 0.26% Reduced -4.1k -4,099
53 Elequin Capital, LP 0.12% of their portfolio NEW YORK, NY 35,55235.6k $915.8k $915.8k 0.12% Reduced -23.5k -23,468
54 NewCorp Financial Services, Inc. 0.80% of their portfolio ALPHARETTA, GA 35,13835.1k $905.2k $905.2k 0.80% First filing
55 Legacy Wealth Management, LLC 0.05% of their portfolio MEMPHIS, TN 35,06835.1k $903.4k $903.4k 0.05% Unchanged
56 STOLZ & ASSOCIATES, PS 0.70% of their portfolio TACOMA, WA 35,06535.1k $903.3k $903.3k 0.70% First filing
57 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 34,67634.7k $893.3k $893.3k 0.00% Added +372 +372
58 Family Capital Management, Inc. 0.38% of their portfolio GRAND RAPIDS, MI 33,04133.0k $851.1k $851.1k 0.38% Added +5.8k +5,841
59 Shared Vision Wealth Group LLC 0.34% of their portfolio CARLSBAD, X1 32,00032.0k $828.5k $828.5k 0.34% Unchanged
60 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 31,28231.3k $805.8k $805.8k 0.00% Added +592 +592
61 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 31,16031.2k $802.7k $802.7k 0.01% New
62 Meeder Advisory Services, Inc. 0.03% of their portfolio DUBLIN, OH 31,16031.2k $802.7k $802.7k 0.03% New
63 Wescott Financial Advisory Group, LLC 0.07% of their portfolio Philadelphia, PA 30,81730.8k $793.8k $793.8k 0.07% New
64 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 28,88128.9k $744.0k $744.0k 0.00% Added +1.4k +1,364
65 AdvisorNet Financial, Inc 0.04% of their portfolio MINNETONKA, MN 27,69827.7k $713.5k $713.5k 0.04% Reduced -1.2k -1,200
66 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 27,57327.6k $710.3k $710.3k 0.00% Added +13.2k +13,226
67 Coastal Bridge Advisors, LLC 0.05% of their portfolio WESTPORT, CT 25,27425.3k $651.1k $651.1k 0.05% Added +548 +548
68 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 25,00225.0k $644.1k $644.1k 0.00% Added +17.2k +17,158
69 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 24,94424.9k $642.6k $642.6k 0.00% Added +76 +76
70 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 24,46824.5k $630.3k $630.3k 0.00% New
71 Blueprint Investment Partners LLC 0.07% of their portfolio GREENSBORO, NC 24,24524.2k $624.6k $624.6k 0.07% Unchanged
72 Blueprint Financial Advisors LLC 0.10% of their portfolio GREENSBOTO, NC 24,24524.2k $624.6k $624.6k 0.10% Unchanged
73 PEAPACK GLADSTONE FINANCIAL CORP 0.01% of their portfolio BEDMINSTER, NJ 22,59822.6k $582.0k $582.0k 0.01% Unchanged
74 Alteri Wealth LLC 0.17% of their portfolio WESTLAKE VILLAGE, CA 20,77520.8k $535.2k $535.2k 0.17% Added +12.7k +12,690
75 Clear Creek Financial Management, LLC 0.04% of their portfolio SILVERDALE, WA 20,76420.8k $534.9k $534.9k 0.04% Added +649 +649
76 Advyzon Investment Management, LLC 0.06% of their portfolio LISLE, IL 20,76420.8k $534.9k $534.9k 0.06% Added +724 +724
77 Berger Financial Group, Inc 0.03% of their portfolio PLYMOUTH, MN 20,68720.7k $532.9k $532.9k 0.03% Added +24 +24
78 Waverly Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 20,40220.4k $525.6k $525.6k 0.00% Added +3.0k +3,000
79 Altiora Financial Group, LLC 0.09% of their portfolio LEBANON, OH 20,00020.0k $515.2k $515.2k 0.09% Unchanged
80 CAP Partners, LLC 0.29% of their portfolio FRANKLIN, TN 19,58119.6k $504.4k $504.4k 0.29% Added +3.3k +3,280
81 GILL CAPITAL PARTNERS, LLC 0.15% of their portfolio DENVER, CO 19,35119.4k $498.5k $498.5k 0.15% New
82 FF Advisors,LLC 0.21% of their portfolio MANHATTAN BEACH, CA 17,98118.0k $463.2k $463.2k 0.21% Unchanged
83 Galvin, Gaustad & Stein, LLC 0.04% of their portfolio Scottsdale, AZ 17,59917.6k $453.4k $453.4k 0.04% Reduced -29 -29
84 Asset Allocation Strategies LLC 0.08% of their portfolio FARMINGTON, MI 17,36617.4k $447.4k $447.4k 0.08% Reduced -1.3k -1,331
85 Symmetry Partners, LLC 0.03% of their portfolio GLASTONBURY, CT 17,27417.3k $445.0k $445.0k 0.03% New
86 Golden Bell Financial Planning LLC 0.37% of their portfolio ALPHARETTA, GA 17,16217.2k $442.1k $442.1k 0.37% Added +1.6k +1,649
87 Unify Financial Advisors 0.46% of their portfolio CLEARWATER, FL 17,00017.0k $437.9k $437.9k 0.46% First filing
88 Gleason Group, Inc. 0.04% of their portfolio PROSPECT, KY 16,91716.9k $435.8k $435.8k 0.04% Added +6.9k +6,938
89 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 16,67916.7k $429.7k $429.7k 0.01% Added +193 +193
90 Revisor Wealth Management LLC 0.11% of their portfolio AKRON, OH 16,55416.6k $428.3k $428.3k 0.11% New
91 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 16,12316.1k $415.3k $415.3k 0.00% Reduced -2.8k -2,782
92 Grant Street Asset Management, Inc. 0.08% of their portfolio CANONSBURG, PA 16,10816.1k $415.0k $415.0k 0.08% Added +188 +188
93 CHAPMAN FINANCIAL GROUP, LLC 0.28% of their portfolio KAILUA, HI 16,10016.1k $414.7k $414.7k 0.28% Added +2.3k +2,300
94 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 15,60915.6k $402.1k $402.1k 0.00% Reduced -106.5k -106,485
95 FIDUCIARY FINANCIAL GROUP, LLC 0.05% of their portfolio SAN RAFAEL, CA 14,99315.0k $386.2k $386.2k 0.05% Reduced -2.3k -2,290
96 Continuum Advisory, LLC 0.04% of their portfolio EAGLE, ID 14,92214.9k $384.4k $384.4k 0.04% Added +165 +165
97 Gemmer Asset Management LLC 0.03% of their portfolio WALNUT CREEK, CA 14,28414.3k $368.0k $368.0k 0.03% Added +327 +327
98 Nalls Sherbakoff Group, LLC 0.26% of their portfolio KNOXVILLE, TN 13,97114.0k $359.9k $359.9k 0.26% Added +3.9k +3,880
99 MSH Capital Advisors LLC 0.08% of their portfolio SCOTTSDALE, AZ 13,87613.9k $357.4k $357.4k 0.08% New
100 SageView Advisory Group, LLC 0.01% of their portfolio Newport Beach, CA 13,37113.4k $344.4k $344.4k 0.01% Added +2.6k +2,561