Vault-13

SCHWAB STRATEGIC TR SCHD

US DIVIDEND EQ · ETP · CUSIP 808524797

2,138 institutional holders +79 vs Q1 2026
840,432,331840.4m shares reported held*
$26.4bnreported value*
162 new 1,070 added 639 reduced 77 sold out net bought ≈ $759.3m (+24.0m 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 ($23.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $31.37. Options: 10 managers hold calls ($123.4m notional), 7 hold puts ($66.8m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

01k2k3kQ3 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: 1,812Q2 25: 1,805Q3 25: 1,808Q4 25: 1,945Q1 26: 2,059Q2 26: 2,1382,138Q3 22Q3 23Q3 24Q3 25Q2 26
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
Q2 20251,805
Q3 20251,808
Q4 20251,945
Q1 20262,059
Q2 20262,138

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ3 24: 936 bought or addedQ3 24: 561 cut or sold outQ4 24: 951 bought or addedQ4 24: 615 cut or sold outQ4 24Q1 25: 1,007 bought or addedQ1 25: 685 cut or sold outQ2 25: 943 bought or addedQ2 25: 756 cut or sold outQ2 25Q3 25: 869 bought or addedQ3 25: 829 cut or sold outQ4 25: 840 bought or addedQ4 25: 866 cut or sold outQ4 25Q1 26: 1,079 bought or addedQ1 26: 839 cut or sold outQ2 26: 1,232 bought or addedQ2 26: 716 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 2024936561
Q4 2024951615
Q1 20251,007685
Q2 2025943756
Q3 2025869829
Q4 2025840866
Q1 20261,079839
Q2 20261,232716

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 25 calls: $134.1mQ3 25 puts: $69.9mQ3 25P/C 0.52Q4 25 calls: $100.8mQ4 25 puts: $120.7mQ4 25P/C 1.20Q1 26 calls: $109.4mQ1 26 puts: $110.9mQ1 26P/C 1.01Q2 26 calls: $123.4mQ2 26 puts: $66.8mQ2 26P/C 0.54
Numbers
QuarterCallsPutsP/C
Q3 2025$134.1m$69.9m0.52
Q4 2025$100.8m$120.7m1.20
Q1 2026$109.4m$110.9m1.01
Q2 2026$123.4m$66.8m0.54

Biggest buyers

SUMITOMO LIFE INSURANCE CO Added +14,119,934+14.1m
Virginia Estate & Retirement Planning Advisors Inc. New +10,533,989+10.5m
Cambridge Investment Research Advisors, Inc. Added +6,755,980+6.8m
BANK OF AMERICA CORP /DE/ Added +5,102,120+5.1m
LPL Financial LLC Added +2,633,635+2.6m
ROYAL BANK OF CANADA Added +2,352,002+2.4m
MORGAN STANLEY Added +1,546,302+1.5m
MML INVESTORS SERVICES, LLC Added +1,381,434+1.4m
OSAIC HOLDINGS, INC. Added +1,315,834+1.3m
Cetera Investment Advisers Added +1,302,580+1.3m

Biggest sellers

Rakuten Investment Management, Inc. Reduced -36,045,234-36.0m
Bouchey Financial Group, Ltd. Reduced -1,841,711-1.8m
Paradiem, LLC Sold out -1,833,707-1.8m
Independent Advisor Alliance Reduced -919,955-920.0k
CITADEL ADVISORS LLC Sold out -836,839-836.8k
D. E. Shaw & Co., Inc. Sold out -639,606-639.6k
Mariner, LLC Reduced -632,571-632.6k
Corient Private Wealth LP Reduced -519,716-519.7k
Keystone Financial Planning, Inc. Reduced -513,358-513.4k
Allworth Financial LP Reduced -510,148-510.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $55.3m1.7m shares
JANE STREET GROUP, LLC Added $22.9m722.8k shares
CITADEL ADVISORS LLC Added $21.3m671.1k shares
Point72 Asset Management, L.P. Added $7.4m232.1k shares
Squarepoint Ops LLC Added $6.2m195.4k shares
Twin Tree Management, LP New $4.4m138.7k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $4.1m129.9k shares
Walleye Trading LLC Added $1.7m54.8k shares
ZEGA Investments, LLC New $85.6k2.7k shares
Wealth Watch Advisors, INC Reduced $132.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $27.8m876.1k shares
CITADEL ADVISORS LLC Reduced $11.9m374.4k shares
CAPITAL FUND MANAGEMENT S.A. Added $9.2m288.7k shares
Point72 Asset Management, L.P. Added $8.2m259.2k shares
Squarepoint Ops LLC Reduced $4.9m154.7k shares
JANE STREET GROUP, LLC Added $4.5m143.2k shares
LPL Financial LLC Added $282.2k8.9k 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, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SUMITOMO LIFE INSURANCE CO 30.88% of their portfolio TOKYO, M0 59,569,93459.6m $1.9bn $1.9bn 30.88% Added +14.1m +14,119,934
2 Rakuten Investment Management, Inc. 4.35% of their portfolio TOKYO, M0 47,138,83447.1m $1.5bn $1.5bn 4.35% Reduced -36.0m -36,045,234
3 BANK OF AMERICA CORP /DE/ 0.07% of their portfolio CHARLOTTE, NC 35,964,37436.0m $1.1bn $1.1bn 0.07% Added +5.1m +5,102,120
4 LPL Financial LLC 0.24% of their portfolio FORT MILL, SC 33,495,23633.5m $1.1bn $1.1bn 0.24% Added +2.6m +2,633,635
5 MORGAN STANLEY 0.05% of their portfolio NEW YORK, NY 27,882,41527.9m $884.2m $884.2m 0.05% Added +1.5m +1,546,302
6 Cetera Investment Advisers 0.74% of their portfolio SCHAUMBURG, IL 25,487,10325.5m $808.2m $808.2m 0.74% Added +1.3m +1,302,580
7 RAYMOND JAMES FINANCIAL INC 0.16% of their portfolio ST. PETERSBURG, FL 18,067,00218.1m $572.9m $572.9m 0.16% Added +886.9k +886,918
8 ENVESTNET ASSET MANAGEMENT INC 0.13% of their portfolio Berwyn, PA 17,667,05917.7m $560.2m $560.2m 0.13% Added +355.0k +354,983
9 UBS Group AG 0.07% of their portfolio ZURICH, V8 14,272,11314.3m $452.6m $452.6m 0.07% Reduced -361.7k -361,658
10 Wealthspire Advisors, LLC 2.37% of their portfolio NEW YORK, NY 13,574,50313.6m $430.4m $430.4m 2.37% Added +263.1k +263,057
11 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.23% of their portfolio MILWAUKEE, WI 13,398,71013.4m $424.9m $424.9m 0.23% Reduced -336.0k -336,004
12 Cambridge Investment Research Advisors, Inc. 0.48% of their portfolio FAIRFIELD, IA 13,299,29313.3m $421.7m $421.7m 0.48% Added +6.8m +6,755,980
13 Wealthfront Advisers LLC 0.77% of their portfolio Palo Alto, CA 12,619,20812.6m $400.2m $400.2m 0.77% Reduced -188.6k -188,634
14 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 11,007,94311.0m $349.1m $349.1m 0.06% Added +2.4m +2,352,002
15 OSAIC HOLDINGS, INC. 0.41% of their portfolio SCOTTSDALE, AZ 10,869,56210.9m $344.7m $344.7m 0.41% Added +1.3m +1,315,834
16 Virginia Estate & Retirement Planning Advisors Inc. 13.12% of their portfolio GLEN ALLEN, VA 10,533,98910.5m $10.9m $10.9m 13.12% New
17 WELLS FARGO & COMPANY/MN 0.06% of their portfolio SAN FRANCISCO, CA 10,190,06710.2m $323.1m $323.1m 0.06% Added +891.3k +891,334
18 Cassaday & Co Wealth Management LLC 5.91% of their portfolio MCLEAN, VA 9,917,4239.9m $314.5m $314.5m 5.91% Added +348.4k +348,397
19 COMMONWEALTH EQUITY SERVICES, LLC 0.38% of their portfolio WALTHAM, MA 9,607,0859.6m $304.6m $304.6m 0.38% Added +162.6k +162,613
20 AMERIPRISE FINANCIAL INC 0.05% of their portfolio MINNEAPOLIS, MN 8,187,2618.2m $259.7m $259.7m 0.05% Added +294.4k +294,367
21 Mariner, LLC 0.23% of their portfolio Overland Park, KS 6,973,7487.0m $221.1m $221.1m 0.23% Reduced -632.6k -632,571
22 MML INVESTORS SERVICES, LLC 0.44% of their portfolio SPRINGFIELD, MA 6,750,0176.8m $214.0m $214.0m 0.44% Added +1.4m +1,381,434
23 Keystone Financial Planning, Inc. 51.09% of their portfolio CLEVELAND, OH 6,250,3496.3m $198.2m $198.2m 51.09% Reduced -513.4k -513,358
24 CIBC WORLD MARKET INC. 0.33% of their portfolio TORONTO, A6 6,233,3486.2m $197.7m $197.7m 0.33% Added +75.6k +75,581
25 Avantax Planning Partners, Inc. 4.26% of their portfolio DUBUQUE, IA 5,394,0155.4m $171.0m $171.0m 4.26% Reduced -113.5k -113,542
26 HHM Wealth Advisors, LLC 16.96% of their portfolio CHATTANOOGA, TN 5,312,6135.3m $168.5m $168.5m 16.96% Added +156.1k +156,107
27 HighTower Advisors, LLC 0.16% of their portfolio CHICAGO, IL 5,226,3555.2m $165.7m $165.7m 0.16% Added +91.7k +91,694
28 JONES FINANCIAL COMPANIES LLLP 0.06% of their portfolio DES PERES, MO 4,932,7584.9m $158.3m $158.3m 0.06% Added +1.1m +1,077,762
29 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.26% of their portfolio PLYMOUTH, MN 4,807,4344.8m $154.8m $154.8m 0.26% Reduced -172.4k -172,351
30 Creative Planning 0.09% of their portfolio OVERLAND PARK, KS 4,737,8644.7m $150.2m $150.2m 0.09% Added +339.8k +339,826
31 KEYBANK NATIONAL ASSOCIATION/OH 0.47% of their portfolio BROOKLYN, OH 4,471,5834.5m $141.8m $141.8m 0.47% Added +634.8k +634,792
32 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,890,0263.9m $124.2m $124.2m 0.01% Reduced -422.2k -422,249
33 Kestra Advisory Services, LLC 0.37% of their portfolio AUSTIN, TX 3,635,3973.6m $115.3m $115.3m 0.37% Added +112.3k +112,270
34 TRUIST FINANCIAL CORP 0.12% of their portfolio CHARLOTTE, NC 3,261,4963.3m $103.4m $103.4m 0.12% Added +82.2k +82,201
35 Berger Financial Group, Inc 5.20% of their portfolio PLYMOUTH, MN 3,205,3193.2m $101.6m $101.6m 5.20% Added +210.2k +210,210
36 Cresset Asset Management, LLC 0.35% of their portfolio Chicago, IL 2,989,7223.0m $94.8m $94.8m 0.35% Added +179.5k +179,532
37 MERCER GLOBAL ADVISORS INC /ADV 0.11% of their portfolio DENVER, CO 2,835,8122.8m $89.9m $89.9m 0.11% Added +538.6k +538,642
38 FIFTH THIRD BANCORP 0.14% of their portfolio CINCINNATI, OH 2,764,0012.8m $87.6m $87.6m 0.14% Added +23.1k +23,083
39 Valmark Advisers, Inc. 0.89% of their portfolio AKRON, OH 2,632,3362.6m $83.5m $83.5m 0.89% Reduced -33.3k -33,325
40 Cerity Partners LLC 0.10% of their portfolio NEW YORK, NY 2,522,2512.5m $80.0m $80.0m 0.10% Added +19.8k +19,848
41 Golden Reserve Retirement LLC 11.68% of their portfolio DUBLIN, OH 2,339,3102.3m $74.2m $74.2m 11.68% Added +51.7k +51,656
42 Asset Advisors Investment Management, LLC 6.77% of their portfolio AUGUSTA, GA 2,326,7362.3m $73.8m $73.8m 6.77% Reduced -191.8k -191,827
43 STIFEL FINANCIAL CORP 0.06% of their portfolio ST. LOUIS, MO 2,324,5172.3m $73.7m $73.7m 0.06% Added +19.1k +19,079
44 MAI Capital Management 0.28% of their portfolio INDEPENDENCE, OH 2,289,1632.3m $72.6m $72.6m 0.28% Reduced -15.7k -15,692
45 Baird Financial Group, Inc. 0.09% of their portfolio MILWAUKEE, WI 2,080,8992.1m $66.0m $66.0m 0.09% Added +61.5k +61,547
46 Mirae Asset Global Investments Co., Ltd. 0.13% of their portfolio SEOUL, M5 2,075,0652.1m $65.8m $65.8m 0.13% Added +443.2k +443,221
47 Summit Asset Management, LLC 8.40% of their portfolio MEMPHIS, TN 2,068,0622.1m $65.6m $65.6m 8.40% Added +7.7k +7,658
48 HARBOUR INVESTMENTS, INC. 0.88% of their portfolio MADISON, WI 2,054,3112.1m $65.1m $65.1m 0.88% Added +128.8k +128,838
49 Waverly Advisors, LLC 0.38% of their portfolio BIRMINGHAM, AL 2,043,0192.0m $64.8m $64.8m 0.38% Added +296.6k +296,601
50 Charles Schwab Trust Bank 100.00% of their portfolio HENDERSON, NV 1,963,0942.0m $62.2m $62.2m 100.00% Reduced -101.7k -101,698
51 D.A. DAVIDSON & CO. 0.34% of their portfolio GREAT FALLS, MT 1,955,2642.0m $62.0m $62.0m 0.34% Reduced -1.9k -1,892
52 HOWARD FINANCIAL SERVICES, LTD. 6.19% of their portfolio DALLAS, TX 1,953,5982.0m $61.9m $61.9m 6.19% Added +8.3k +8,306
53 Spinnaker Investment Group, LLC 9.82% of their portfolio Newport Beach, CA 1,933,6041.9m $61.3m $61.3m 9.82% Added +218.1k +218,105
54 Summit Financial Wealth Advisors, LLC 7.81% of their portfolio Lafayette, LA 1,925,0601.9m $61.0m $61.0m 7.81% Added +3.3k +3,339
55 UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.34% of their portfolio IRVING, TX 1,921,9621.9m $60.9m $60.9m 0.34% Added +9.9k +9,915
56 CVA Family Office, LLC 5.47% of their portfolio DENVER, CO 1,906,5891.9m $60.5m $60.5m 5.47% Reduced -5.0k -5,021
57 Brookstone Capital Management 0.60% of their portfolio WHEATON, IL 1,889,4451.9m $59.9m $59.9m 0.60% Added +1.1m +1,124,540
58 Allied Investment Advisors, LLC 7.45% of their portfolio BILLINGS, MT 1,871,3981.9m $59.3m $59.3m 7.45% Added +54.8k +54,773
59 BOKF, NA 0.82% of their portfolio TULSA, OK 1,869,3231.9m $59.3m $59.3m 0.82% Added +58.7k +58,656
60 STEPHENS INC /AR/ 0.66% of their portfolio LITTLE ROCK, AR 1,868,8231.9m $59.3m $59.3m 0.66% Added +61.1k +61,061
61 Focus Partners Wealth 0.06% of their portfolio ST LOUIS, MO 1,841,2461.8m $58.4m $58.4m 0.06% Added +199.4k +199,375
62 Focus Financial Network, Inc. 1.78% of their portfolio MINNEAPOLIS, MN 1,818,2891.8m $57.7m $57.7m 1.78% Reduced -164.9k -164,885
63 Main Street Financial Solutions, LLC 3.70% of their portfolio NEWTOWN, PA 1,816,4381.8m $57.6m $57.6m 3.70% Added +90.8k +90,765
64 Whelan Financial 15.45% of their portfolio FRESNO, CA 1,788,7941.8m $56.7m $56.7m 15.45% Added +13.3k +13,332
65 HB Wealth Management, LLC 0.32% of their portfolio Atlanta, GA 1,780,5581.8m $56.5m $56.5m 0.32% Added +137.4k +137,402
66 MCF Advisors LLC 2.01% of their portfolio LEXINGTON, KY 1,776,2761.8m $56.3m $56.3m 2.01% Reduced -62.4k -62,371
67 Beacon Pointe Advisors, LLC 0.26% of their portfolio NEWPORT BEACH, CA 1,759,5571.8m $55.8m $55.8m 0.26% Reduced -1.9k -1,903
68 Steward Partners Investment Advisory, LLC 0.28% of their portfolio STAMFORD, CT 1,719,8891.7m $54.5m $54.5m 0.28% Added +118.3k +118,317
69 Scott Capital Advisors, LLC 8.53% of their portfolio PORTLAND, OR 1,718,3811.7m $54.5m $54.5m 8.53% Reduced -10.8k -10,788
70 Northwest Quadrant Wealth Management, LLC 10.09% of their portfolio BEND, OR 1,718,0371.7m $54.5m $54.5m 10.09% Added +75.2k +75,151
71 BURKETT FINANCIAL SERVICES, LLC 16.95% of their portfolio ROCK HILL, SC 1,708,4721.7m $54.2m $54.2m 16.95% Reduced -14.5k -14,487
72 Gerber Kawasaki Wealth & Investment Management 1.44% of their portfolio SANTA MONICA, CA 1,699,7241.7m $53.9m $53.9m 1.44% Reduced -30.0k -30,010
73 Keudell/Morrison Wealth Management 10.13% of their portfolio Salem, OR 1,690,5771.7m $53.6m $53.6m 10.13% Added +159.9k +159,943
74 CAPTRUST FINANCIAL ADVISORS 0.08% of their portfolio RALEIGH, NC 1,688,1341.7m $53.5m $53.5m 0.08% Added +19.1k +19,137
75 Sarver Vrooman Wealth Advisors 31.82% of their portfolio KANSAS CITY, MO 1,661,0971.7m $53.4m $53.4m 31.82% Added +7.0k +7,002
76 CGC Financial Services, LLC 11.71% of their portfolio LAKE OSWEGO, OR 1,641,9701.6m $52.1m $52.1m 11.71% Added +25.7k +25,674
77 Leelyn Smith, LLC 6.28% of their portfolio GENEVA, IL 1,629,3441.6m $51.7m $51.7m 6.28% Added +42.4k +42,386
78 CHOREO, LLC 0.56% of their portfolio ROCKFORD, IL 1,613,1571.6m $51.2m $51.2m 0.56% Reduced -47.4k -47,369
79 Noble Family Wealth, LLC 9.11% of their portfolio Clearwater, FL 1,605,1161.6m $50.9m $50.9m 9.11% Added +100.1k +100,061
80 Integrated Wealth Concepts LLC 0.25% of their portfolio WALTHAM, MA 1,591,7851.6m $50.5m $50.5m 0.25% Added +491.5k +491,452
81 SECURIAN ASSET MANAGEMENT, INC 1.87% of their portfolio ST PAUL, MN 1,581,0001.6m $52.0m $52.0m 1.87% Unchanged
82 Evergreen Advisors, LLC 10.61% of their portfolio CHATTANOOGA, TN 1,568,1371.6m $49.7m $49.7m 10.61% Added +17.1k +17,057
83 PINNACLE ASSOCIATES LTD 0.53% of their portfolio NEW YORK, NY 1,527,1091.5m $48.4m $48.4m 0.53% Added +57.4k +57,420
84 VICTORY FINANCIAL GROUP, LLC 5.05% of their portfolio AUSTIN, TX 1,514,9961.5m $48.0m $48.0m 5.05% Reduced -12.0k -11,954
85 Farther Finance Advisors, LLC 0.37% of their portfolio SAN FRANCISCO, CA 1,505,7671.5m $47.7m $47.7m 0.37% Added +162.0k +162,036
86 Merit Financial Group, LLC 0.29% of their portfolio ALPHARETTA, GA 1,496,0931.5m $47.4m $47.4m 0.29% Reduced -39.0k -39,011
87 Curran Financial Partners, LLC 7.03% of their portfolio DANIEL ISLAND, SC 1,490,2021.5m $47.3m $47.3m 7.03% Added +119.0k +118,956
88 Janney Montgomery Scott LLC 0.09% of their portfolio PHILADELPHIA, PA 1,464,7011.5m $46.4m $46.4m 0.09% Added +58.0k +57,983
89 Cedar Wealth Management, LLC 11.71% of their portfolio LA JOLLA, CA 1,435,8681.4m $45.5m $45.5m 11.71% Reduced -1.9k -1,893
90 Cullen/Frost Bankers, Inc. 0.44% of their portfolio San Antonio, TX 1,421,3801.4m $45.1m $45.1m 0.44% Reduced -165.7k -165,748
91 Equitable Holdings, Inc. 0.26% of their portfolio NEW YORK, NY 1,371,7941.4m $43.5m $43.5m 0.26% Added +108.3k +108,257
92 Aptus Capital Advisors, LLC 0.30% of their portfolio FAIRHOPE, AL 1,313,8031.3m $41.7m $41.7m 0.30% Reduced -5.9k -5,897
93 ForthRight Wealth Management, LLC 10.53% of their portfolio ALPHARETTA, GA 1,297,5401.3m $41.1m $41.1m 10.53% Added +7.4k +7,397
94 Ameritas Advisory Services, LLC 0.81% of their portfolio Lincoln, NE 1,262,8521.3m $40.0m $40.0m 0.81% Added +656.9k +656,892
95 Private Advisor Group, LLC 0.18% of their portfolio MORRISTOWN, NJ 1,255,7701.3m $39.8m $39.8m 0.18% Reduced -175.0k -175,028
96 Apriem Advisors 3.38% of their portfolio IRVINE, CA 1,230,3711.2m $39.0m $39.0m 3.38% Added +111.2k +111,175
97 Intergy Private Wealth, LLC 9.00% of their portfolio COLORADO SPRINGS, CO 1,228,4131.2m $39.0m $39.0m 9.00% Added +74.3k +74,327
98 Focus Partners Advisor Solutions, LLC 0.33% of their portfolio SAINT LOUIS, MO 1,221,4451.2m $38.7m $38.7m 0.33% Reduced -13.1k -13,100
99 CRA Financial Services, LLC 4.46% of their portfolio NORTHFIELD, NJ 1,220,8111.2m $38.7m $38.7m 4.46% Added +32.4k +32,394
100 Coastal Bridge Advisors, LLC 2.38% of their portfolio WESTPORT, CT 1,213,7201.2m $38.5m $38.5m 2.38% Added +55.4k +55,421