Vault-13

SCHWAB STRATEGIC TR SCHD

US DIVIDEND EQ · ETP · CUSIP 808524797

1,812 institutional holders +4 vs Q4 2024
868,546,010868.5m shares reported held*
$24.2bnreported value*
106 new 901 added 595 reduced 90 sold out net sold ≈ $19.1m (-803.0k 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 ($37.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.92. Options: 8 managers hold calls ($135.8m notional), 7 hold puts ($61.1m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ3 22: 1,166Q4 22: 1,330Q1 23: 1,352Q2 23: 1,386Q3 23: 1,392Q4 23: 1,531Q1 24: 1,570Q2 24: 1,561Q3 24: 1,633Q4 24: 1,808Q1 25: 1,8121,812Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 20221,166
Q4 20221,330
Q1 20231,352
Q2 20231,386
Q3 20231,392
Q4 20231,531
Q1 20241,570
Q2 20241,561
Q3 20241,633
Q4 20241,808
Q1 20251,812

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ2 23: 759 bought or addedQ2 23: 541 cut or sold outQ3 23: 766 bought or addedQ3 23: 552 cut or sold outQ3 23Q4 23: 708 bought or addedQ4 23: 644 cut or sold outQ1 24: 857 bought or addedQ1 24: 625 cut or sold outQ1 24Q2 24: 745 bought or addedQ2 24: 659 cut or sold outQ3 24: 936 bought or addedQ3 24: 561 cut or sold outQ3 24Q4 24: 951 bought or addedQ4 24: 615 cut or sold outQ1 25: 1,007 bought or addedQ1 25: 685 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023759541
Q3 2023766552
Q4 2023708644
Q1 2024857625
Q2 2024745659
Q3 2024936561
Q4 2024951615
Q1 20251,007685

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ2 24 calls: $115.9mQ2 24 puts: $54.0mQ2 24P/C 0.47Q3 24 calls: $159.9mQ3 24 puts: $94.0mQ3 24P/C 0.59Q4 24 calls: $130.8mQ4 24 puts: $73.3mQ4 24P/C 0.56Q1 25 calls: $135.8mQ1 25 puts: $61.1mQ1 25P/C 0.45
Numbers
QuarterCallsPutsP/C
Q2 2024$115.9m$54.0m0.47
Q3 2024$159.9m$94.0m0.59
Q4 2024$130.8m$73.3m0.56
Q1 2025$135.8m$61.1m0.45

Biggest buyers

Wealthspire Advisors, LLC Added +14,410,724+14.4m
LPL Financial LLC Added +2,470,706+2.5m
Cresset Asset Management, LLC Added +2,069,007+2.1m
AVANTAX ADVISORY SERVICES, INC. Added +1,637,300+1.6m
TWO SIGMA INVESTMENTS, LP New +1,207,941+1.2m
OSAIC HOLDINGS, INC. Added +1,034,229+1.0m
Pathstone Holdings, LLC Added +970,200+970.2k
MORGAN STANLEY Added +886,025+886.0k
CWM, LLC Added +757,040+757.0k
Cetera Investment Advisers Added +749,871+749.9k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -17,387,364-17.4m
SUMITOMO LIFE INSURANCE CO Reduced -8,250,000-8.2m
WELLS FARGO & COMPANY/MN Reduced -2,334,003-2.3m
D.A. DAVIDSON & CO. Reduced -1,659,248-1.7m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,493,996-1.5m
Kestra Advisory Services, LLC Reduced -1,398,711-1.4m
Independent Advisor Alliance Reduced -1,342,165-1.3m
Focus Partners Wealth Reduced -1,214,819-1.2m
Charles Schwab Trust Bank Reduced -1,069,112-1.1m
PARK AVENUE SECURITIES LLC Sold out -931,020-931.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $44.8m1.6m shares
Twin Tree Management, LP Reduced $37.8m1.4m shares
CITADEL ADVISORS LLC Added $18.9m677.2k shares
WOLVERINE TRADING, LLC Added $18.3m662.6k shares
CAPITAL FUND MANAGEMENT S.A. Added $7.4m263.8k shares
JANE STREET GROUP, LLC Reduced $5.0m179.7k shares
Squarepoint Ops LLC Added $3.6m129.1k shares
Destination Wealth Management Unchanged $668300 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $34.7m1.2m shares
CITADEL ADVISORS LLC Added $17.1m610.6k shares
WOLVERINE TRADING, LLC Reduced $3.5m126.3k shares
CAPITAL FUND MANAGEMENT S.A. Added $2.8m101.0k shares
Squarepoint Ops LLC Added $2.1m74.4k shares
JANE STREET GROUP, LLC Reduced $894.7k32.0k shares
BANK OF AMERICA CORP /DE/ New $55.9k2.0k 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LPL Financial LLC 0.42% of their portfolio FORT MILL, SC 38,785,48238.8m $1.1bn $1.1bn 0.42% Added +2.5m +2,470,706
2 Rakuten Investment Management, Inc. 4.17% of their portfolio TOKYO, M0 33,032,23433.0m $911.0m $911.0m 4.17% First filing
3 BANK OF AMERICA CORP /DE/ 0.08% of their portfolio CHARLOTTE, NC 32,243,42032.2m $901.5m $901.5m 0.08% Reduced -17.4m -17,387,364
4 Wealthspire Advisors, LLC 4.94% of their portfolio NEW YORK, NY 29,554,83629.6m $826.4m $826.4m 4.94% Added +14.4m +14,410,724
5 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 29,361,32329.4m $820.9m $820.9m 0.06% Added +886.0k +886,025
6 AVANTAX ADVISORY SERVICES, INC. 4.69% of their portfolio DALLAS, TX 27,640,92627.6m $772.8m $772.8m 4.69% Added +1.6m +1,637,300
7 RAYMOND JAMES FINANCIAL INC 0.22% of their portfolio ST. PETERSBURG, FL 21,199,63121.2m $592.7m $592.7m 0.22% Reduced -503.8k -503,845
8 SUMITOMO LIFE INSURANCE CO 18.58% of their portfolio TOKYO, M0 18,570,00018.6m $519.2m $519.2m 18.58% Reduced -8.2m -8,250,000
9 ENVESTNET ASSET MANAGEMENT INC 0.16% of their portfolio Berwyn, PA 18,132,67818.1m $507.0m $507.0m 0.16% Reduced -1.5m -1,493,996
10 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.41% of their portfolio MILWAUKEE, WI 17,763,62617.8m $496.7m $496.7m 0.41% Reduced -459.1k -459,050
11 AMERIPRISE FINANCIAL INC 0.13% of their portfolio MINNEAPOLIS, MN 17,539,87517.5m $491.2m $491.2m 0.13% Added +113.3k +113,330
12 UBS Group AG 0.10% of their portfolio ZURICH, V8 15,485,19415.5m $433.0m $433.0m 0.10% Reduced -490.1k -490,089
13 Wealthfront Advisers LLC 1.05% of their portfolio Palo Alto, CA 13,924,58213.9m $389.3m $389.3m 1.05% Reduced -385.1k -385,060
14 COMMONWEALTH EQUITY SERVICES, LLC 0.53% of their portfolio WALTHAM, MA 13,496,41613.5m $377.4m $377.4m 0.53% Added +365.9k +365,856
15 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.62% of their portfolio PLYMOUTH, MN 11,654,61911.7m $325.9m $325.9m 0.62% Added +182.7k +182,749
16 Orgel Wealth Management, LLC 8.37% of their portfolio ALTOONA, WI 11,520,11011.5m $322.1m $322.1m 8.37% Added +457.9k +457,867
17 OSAIC HOLDINGS, INC. 0.63% of their portfolio SCOTTSDALE, AZ 10,047,60510.0m $281.0m $281.0m 0.63% Added +1.0m +1,034,229
18 WELLS FARGO & COMPANY/MN 0.07% of their portfolio SAN FRANCISCO, CA 9,960,23210.0m $278.5m $278.5m 0.07% Reduced -2.3m -2,334,003
19 Avantax Planning Partners, Inc. 9.54% of their portfolio DUBUQUE, IA 9,634,7739.6m $269.4m $269.4m 9.54% Added +253.8k +253,790
20 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 9,164,8749.2m $256.2m $256.2m 0.06% Added +85.0k +84,956
21 Mariner, LLC 0.38% of their portfolio Overland Park, KS 8,235,6598.2m $230.3m $230.3m 0.38% Added +25.1k +25,129
22 Cresset Asset Management, LLC 1.06% of their portfolio Chicago, IL 7,582,2827.6m $212.0m $212.0m 1.06% Added +2.1m +2,069,007
23 Cetera Investment Advisers 0.37% of their portfolio SCHAUMBURG, IL 6,818,5616.8m $190.6m $190.6m 0.37% Added +749.9k +749,871
24 Cambridge Investment Research Advisors, Inc. 0.64% of their portfolio FAIRFIELD, IA 6,768,3326.8m $189.2m $189.2m 0.64% Reduced -331.6k -331,630
25 Cassaday & Co Wealth Management LLC 4.65% of their portfolio MCLEAN, VA 5,917,3035.9m $165.4m $165.4m 4.65% Added +161.4k +161,391
26 MML INVESTORS SERVICES, LLC 0.55% of their portfolio SPRINGFIELD, MA 5,872,9935.9m $164.2m $164.2m 0.55% Added +483.1k +483,132
27 HighTower Advisors, LLC 0.22% of their portfolio CHICAGO, IL 5,669,0125.7m $158.5m $158.5m 0.22% Added +431.5k +431,525
28 CWM, LLC 0.63% of their portfolio OMAHA, NE 5,650,7755.7m $158.0m $158.0m 0.63% Added +757.0k +757,040
29 Cerity Partners LLC 0.32% of their portfolio NEW YORK, NY 5,620,5735.6m $157.2m $157.2m 0.32% Reduced -14.8k -14,794
30 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 5,566,7025.6m $155.6m $155.6m 0.01% Added +490.4k +490,361
31 Keystone Financial Planning, Inc. 45.72% of their portfolio CLEVELAND, OH 5,488,3205.5m $153.5m $153.5m 45.72% Added +122.7k +122,693
32 HHM Wealth Advisors, LLC 18.73% of their portfolio CHATTANOOGA, TN 4,975,2785.0m $139.1m $139.1m 18.73% Added +102.7k +102,700
33 Creative Planning 0.12% of their portfolio OVERLAND PARK, KS 4,483,9824.5m $125.4m $125.4m 0.12% Added +150.0k +150,011
34 Baird Financial Group, Inc. 0.24% of their portfolio MILWAUKEE, WI 4,388,4734.4m $122.7m $122.7m 0.24% Reduced -5.7k -5,709
35 Diversified Enterprises, LLC 9.89% of their portfolio Wilmington, DE 4,204,4544.2m $117.6m $117.6m 9.89% Added +210.0k +210,001
36 Cullen/Frost Bankers, Inc. 1.60% of their portfolio San Antonio, TX 4,090,7374.1m $114.4m $114.4m 1.60% Reduced -20.3k -20,307
37 KEYBANK NATIONAL ASSOCIATION/OH 0.43% of their portfolio BROOKLYN, OH 3,799,1013.8m $106.2m $106.2m 0.43% Reduced -28.6k -28,592
38 TRUIST FINANCIAL CORP 0.16% of their portfolio CHARLOTTE, NC 3,572,3213.6m $99.9m $99.9m 0.16% Added +28.9k +28,923
39 LVW Advisors, LLC 11.93% of their portfolio PITTSFORD, NY 3,538,7103.5m $98.9m $98.9m 11.93% Reduced -58.9k -58,926
40 Kestra Advisory Services, LLC 0.44% of their portfolio AUSTIN, TX 3,272,5573.3m $91.5m $91.5m 0.44% Reduced -1.4m -1,398,711
41 Focus Financial Network, Inc. 3.73% of their portfolio MINNEAPOLIS, MN 3,262,5333.3m $91.2m $91.2m 3.73% Added +78.7k +78,717
42 FIFTH THIRD BANCORP 0.33% of their portfolio CINCINNATI, OH 3,129,4873.1m $87.5m $87.5m 0.33% Added +90.8k +90,769
43 Bouchey Financial Group, Ltd. 7.55% of their portfolio TROY, NY 2,993,1003.0m $83.7m $83.7m 7.55% Added +60.4k +60,357
44 Berger Financial Group, Inc 5.69% of their portfolio PLYMOUTH, MN 2,927,3502.9m $81.8m $81.8m 5.69% Added +286.9k +286,891
45 Charles Schwab Trust Bank 100.00% of their portfolio HENDERSON, NV 2,886,5382.9m $80.7m $80.7m 100.00% Reduced -1.1m -1,069,112
46 IMA Advisory Services, Inc. 9.55% of their portfolio DENVER, CO 2,881,2422.9m $80.5m $80.5m 9.55% Added +194.0k +193,968
47 Asset Advisors Investment Management, LLC 8.13% of their portfolio AUGUSTA, GA 2,769,0662.8m $77.4m $77.4m 8.13% Reduced -67.5k -67,469
48 Valmark Advisers, Inc. 1.15% of their portfolio AKRON, OH 2,721,2292.7m $76.1m $76.1m 1.15% Reduced -226.1k -226,119
49 Mirae Asset Global Investments Co., Ltd. 0.30% of their portfolio SEOUL, M5 2,695,7912.7m $74.3m $74.3m 0.30% Added +184.0k +183,968
50 CVA Family Office, LLC 10.48% of their portfolio DENVER, CO 2,445,9132.4m $68.4m $68.4m 10.48% Added +147.6k +147,599
51 HARBOUR INVESTMENTS, INC. 1.92% of their portfolio MADISON, WI 2,397,4772.4m $67.0m $67.0m 1.92% Added +37.6k +37,638
52 Aptus Capital Advisors, LLC 0.74% of their portfolio FAIRHOPE, AL 2,346,0902.3m $65.6m $65.6m 0.74% Added +128.8k +128,823
53 CGC Financial Services, LLC 24.92% of their portfolio LAKE OSWEGO, OR 2,253,6952.3m $63.0m $63.0m 24.92% Added +68.7k +68,717
54 STIFEL FINANCIAL CORP 0.07% of their portfolio ST. LOUIS, MO 2,207,9452.2m $61.7m $61.7m 0.07% Added +17.3k +17,314
55 MAI Capital Management 0.45% of their portfolio INDEPENDENCE, OH 2,143,2562.1m $59.9m $59.9m 0.45% Added +4.1k +4,109
56 Allworth Financial LP 0.31% of their portfolio FOLSOM, CA 2,140,7432.1m $55.0m $55.0m 0.31% Added +39.9k +39,930
57 JONES FINANCIAL COMPANIES LLLP 0.05% of their portfolio DES PERES, MO 2,082,6942.1m $57.4m $57.4m 0.05% Added +627.7k +627,687
58 Steward Partners Investment Advisory, LLC 0.51% of their portfolio STAMFORD, CT 2,075,3752.1m $58.0m $58.0m 0.51% Reduced -55.7k -55,735
59 HOWARD FINANCIAL SERVICES, LTD. 7.89% of their portfolio DALLAS, TX 2,073,1002.1m $58.0m $58.0m 7.89% Added +51.3k +51,341
60 Marquette Asset Management, LLC 9.97% of their portfolio MINNEAPOLIS, MN 2,022,5082.0m $56.5m $56.5m 9.97% Added +5.1k +5,113
61 Summit Asset Management, LLC 9.49% of their portfolio MEMPHIS, TN 1,960,3362.0m $54.8m $54.8m 9.49% Added +14.4k +14,357
62 Gerber Kawasaki Wealth & Investment Management 2.42% of their portfolio SANTA MONICA, CA 1,926,1411.9m $53.9m $53.9m 2.42% Added +17.6k +17,554
63 Pathstone Holdings, LLC 0.23% of their portfolio ENGLEWOOD, NJ 1,915,8421.9m $53.6m $53.6m 0.23% Added +970.2k +970,200
64 Summit Financial Wealth Advisors, LLC 10.37% of their portfolio Lafayette, LA 1,868,5991.9m $52.2m $52.2m 10.37% Added +27.5k +27,469
65 VICTORY FINANCIAL GROUP, LLC 9.83% of their portfolio AUSTIN, TX 1,838,7921.8m $51.2m $51.2m 9.83% Added +87.6k +87,597
66 D.A. DAVIDSON & CO. 0.41% of their portfolio GREAT FALLS, MT 1,827,8471.8m $51.1m $51.1m 0.41% Reduced -1.7m -1,659,248
67 Ameritas Advisory Services, LLC 2.00% of their portfolio Lincoln, NE 1,788,0651.8m $49.6m $49.6m 2.00% Reduced -385.7k -385,664
68 Private Advisor Group, LLC 0.30% of their portfolio MORRISTOWN, NJ 1,763,5681.8m $49.3m $49.3m 0.30% Added +93.7k +93,719
69 ESL Trust Services, LLC 11.11% of their portfolio ROCHESTER, NY 1,760,6161.8m $49.2m $49.2m 11.11% Reduced -132 -132
70 True Link Financial Advisors, LLC 3.66% of their portfolio SAN FRANCISCO, CA 1,754,5221.8m $49.1m $49.1m 3.66% Added +186.0k +185,997
71 Spinnaker Investment Group, LLC 10.98% of their portfolio Newport Beach, CA 1,737,3811.7m $48.6m $48.6m 10.98% Added +104.2k +104,150
72 Scott Capital Advisors, LLC 14.43% of their portfolio PORTLAND, OR 1,729,6241.7m $48.4m $48.4m 14.43% Added +43.4k +43,390
73 Equitable Holdings, Inc. 0.46% of their portfolio NEW YORK, NY 1,729,2801.7m $48.4m $48.4m 0.46% Added +247.0k +246,960
74 Main Street Financial Solutions, LLC 4.16% of their portfolio NEWTOWN, PA 1,713,5841.7m $47.9m $47.9m 4.16% Added +80.5k +80,470
75 Whelan Financial 18.35% of their portfolio FRESNO, CA 1,687,3531.7m $47.2m $47.2m 18.35% Added +1.8k +1,843
76 Sarver Vrooman Wealth Advisors 30.58% of their portfolio KANSAS CITY, MO 1,643,8051.6m $46.0m $46.0m 30.58% First filing
77 ADAMSBROWN WEALTH CONSULTANTS LLC 14.11% of their portfolio WICHITA, KS 1,607,1111.6m $44.9m $44.9m 14.11% Added +73.9k +73,896
78 BOKF, NA 0.79% of their portfolio TULSA, OK 1,606,0631.6m $44.9m $44.9m 0.79% Added +120.5k +120,465
79 Waverly Advisors, LLC 0.54% of their portfolio BIRMINGHAM, AL 1,594,0561.6m $44.6m $44.6m 0.54% Added +114.8k +114,785
80 SECURIAN ASSET MANAGEMENT, INC 1.34% of their portfolio ST PAUL, MN 1,581,0001.6m $44.2m $44.2m 1.34% Unchanged
81 Reliant Wealth Planning 20.16% of their portfolio LOUISVILLE, KY 1,580,3231.6m $44.2m $44.2m 20.16% Reduced -4.0k -4,043
82 BURKETT FINANCIAL SERVICES, LLC 18.00% of their portfolio ROCK HILL, SC 1,580,1691.6m $44.2m $44.2m 18.00% Added +38.0k +38,030
83 PINNACLE ASSOCIATES LTD 0.64% of their portfolio NEW YORK, NY 1,568,3741.6m $43.9m $43.9m 0.64% Reduced -568.0k -568,005
84 Allied Investment Advisors, LLC 8.12% of their portfolio BILLINGS, MT 1,531,3161.5m $42.8m $42.8m 8.12% Added +76.4k +76,370
85 HB Wealth Management, LLC 0.36% of their portfolio Atlanta, GA 1,524,1031.5m $42.6m $42.6m 0.36% Added +86.8k +86,824
86 Golden Reserve Retirement LLC 16.77% of their portfolio DUBLIN, OH 1,508,1281.5m $42.2m $42.2m 16.77% First filing
87 BLAIR WILLIAM & CO/IL 0.13% of their portfolio CHICAGO, IL 1,507,1571.5m $42.1m $42.1m 0.13% Added +89.2k +89,224
88 Northwest Quadrant Wealth Management, LLC 9.83% of their portfolio BEND, OR 1,497,7091.5m $41.9m $41.9m 9.83% Added +309.3k +309,252
89 Focus Partners Wealth 0.10% of their portfolio ST LOUIS, MO 1,486,4581.5m $41.6m $41.6m 0.10% Reduced -1.2m -1,214,819
90 MERCER GLOBAL ADVISORS INC /ADV 0.10% of their portfolio DENVER, CO 1,486,0161.5m $41.5m $41.5m 0.10% Added +49.0k +48,963
91 MFA WEALTH ADVISORS, LLC 10.27% of their portfolio PITTSBURGH, PA 1,483,4431.5m $41.5m $41.5m 10.27% Added +5.4k +5,364
92 CENTRAL TRUST Co 1.02% of their portfolio JEFFERSON CITY, MO 1,479,8681.5m $41.4m $41.4m 1.02% Reduced -92.5k -92,542
93 Wealthcare Advisory Partners LLC 1.10% of their portfolio WEST CHESTER, PA 1,468,0801.5m $41.0m $41.0m 1.10% Added +58.2k +58,174
94 Focus Partners Advisor Solutions, LLC 0.62% of their portfolio SAINT LOUIS, MO 1,458,3451.5m $40.8m $40.8m 0.62% Reduced -2.1k -2,099
95 Evergreen Advisors, LLC 11.18% of their portfolio CHATTANOOGA, TN 1,440,2671.4m $40.3m $40.3m 11.18% Reduced -4.9k -4,889
96 Richardson Capital Management LLC 25.04% of their portfolio MENOMONEE FALLS, WI 1,435,9481.4m $40.1m $40.1m 25.04% Added +38.7k +38,737
97 Walker Financial Services, Inc. 20.64% of their portfolio BOWLING GREEN, KY 1,408,3781.4m $39.4m $39.4m 20.64% Added +100.4k +100,381
98 Presidio Capital Management, LLC 16.28% of their portfolio SAN DIEGO, CA 1,396,4121.4m $39.0m $39.0m 16.28% Added +343.9k +343,887
99 Atria Wealth Solutions, Inc. 0.46% of their portfolio NEW YORK, NY 1,362,0431.4m $38.1m $38.1m 0.46% Reduced -2.9k -2,868
100 Apexium Financial, LP 2.26% of their portfolio Dallas, TX 1,356,9701.4m $37.9m $37.9m 2.26% Added +44.4k +44,413