Vault-13

SCHWAB STRATEGIC TR SCHO

SHT TM US TRES · ETP · CUSIP 808524862

660 institutional holders +16 vs Q1 2025
316,455,775316.5m shares reported held*
$7.7bnreported value*
57 new 272 added 238 reduced 51 sold out net bought ≈ $169.3m (+7.7m 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 ($4.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $24.39. Options: 1 managers hold calls ($2.4m notional), 1 hold puts ($1.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 529Q4 22: 565Q1 23: 574Q2 23: 583Q3 23: 575Q4 23: 600Q1 24: 601Q2 24: 586Q3 24: 591Q4 24: 634Q1 25: 644Q2 25: 660660Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022529
Q4 2022565
Q1 2023574
Q2 2023583
Q3 2023575
Q4 2023600
Q1 2024601
Q2 2024586
Q3 2024591
Q4 2024634
Q1 2025644
Q2 2025660

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 260 bought or addedQ3 23: 284 cut or sold outQ4 23: 263 bought or addedQ4 23: 291 cut or sold outQ4 23Q1 24: 300 bought or addedQ1 24: 280 cut or sold outQ2 24: 284 bought or addedQ2 24: 285 cut or sold outQ2 24Q3 24: 296 bought or addedQ3 24: 263 cut or sold outQ4 24: 303 bought or addedQ4 24: 285 cut or sold outQ4 24Q1 25: 336 bought or addedQ1 25: 282 cut or sold outQ2 25: 329 bought or addedQ2 25: 289 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023260284
Q4 2023263291
Q1 2024300280
Q2 2024284285
Q3 2024296263
Q4 2024303285
Q1 2025336282
Q2 2025329289

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ3 24 calls: $3.6mQ3 24 puts: $1.5mQ3 24P/C 0.41Q4 24 calls: $1.4mQ4 24 puts: $1.1mQ4 24P/C 0.79Q1 25 calls: $2.5mQ1 25 puts: $934.7kQ1 25P/C 0.37Q2 25 calls: $2.4mQ2 25 puts: $1.7mQ2 25P/C 0.71
Numbers
QuarterCallsPutsP/C
Q3 2024$3.6m$1.5m0.41
Q4 2024$1.4m$1.1m0.79
Q1 2025$2.5m$934.7k0.37
Q2 2025$2.4m$1.7m0.71

Biggest buyers

Cerity Partners LLC Added +3,205,930+3.2m
STEPHENS GROUP ASSET MANAGEMENT, LLC Added +1,486,385+1.5m
AMERIPRISE FINANCIAL INC Added +1,237,815+1.2m
Moisand Fitzgerald Tamayo, LLC Added +1,158,797+1.2m
PNC Financial Services Group, Inc. Added +1,104,604+1.1m
LPL Financial LLC Added +841,439+841.4k
BANK OF AMERICA CORP /DE/ Added +806,967+807.0k
ACCESS FINANCIAL SERVICES, INC. Added +610,888+610.9k
AlphaStar Capital Management, LLC New +567,621+567.6k
SEI INVESTMENTS CO Added +500,652+500.7k

Biggest sellers

West Coast Financial LLC Sold out -3,033,672-3.0m
RENAISSANCE TECHNOLOGIES LLC Reduced -1,946,347-1.9m
JPMORGAN CHASE & CO Reduced -1,210,798-1.2m
FINANCIAL COUNSELORS INC Sold out -1,200,638-1.2m
NISA INVESTMENT ADVISORS, LLC Sold out -737,900-737.9k
United Capital Management of KS, Inc. Reduced -587,862-587.9k
TOWNSQUARE CAPITAL LLC Reduced -561,326-561.3k
MCF Advisors LLC Reduced -423,402-423.4k
Wealthfront Advisers LLC Reduced -331,386-331.4k
B. Riley Wealth Advisors, Inc. Sold out -327,741-327.7k

Biggest calls

CITADEL ADVISORS LLC Added $2.4m98.6k shares

Biggest puts

CITADEL ADVISORS LLC Added $1.7m70.3k 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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.21% of their portfolio CHARLOTTE, NC 109,087,556109.1m $2.7bn $2.7bn 0.21% Added +807.0k +806,967
2 AMERIPRISE FINANCIAL INC 0.14% of their portfolio MINNEAPOLIS, MN 23,077,70723.1m $570.8m $570.8m 0.14% Added +1.2m +1,237,815
3 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 20,251,10420.3m $493.7m $493.7m 0.03% Reduced -1.2m -1,210,798
4 SEI INVESTMENTS CO 0.48% of their portfolio OAKS, PA 17,026,19317.0m $415.1m $415.1m 0.48% Added +500.7k +500,652
5 ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio Berwyn, PA 8,046,4128.0m $196.2m $196.2m 0.06% Added +401.3k +401,306
6 STIFEL FINANCIAL CORP 0.14% of their portfolio ST. LOUIS, MO 6,111,5706.1m $149.0m $149.0m 0.14% Reduced -8.4k -8,404
7 LPL Financial LLC 0.03% of their portfolio FORT MILL, SC 4,291,7274.3m $104.6m $104.6m 0.03% Added +841.4k +841,439
8 PNC Financial Services Group, Inc. 0.06% of their portfolio Pittsburgh, PA 3,819,2043.8m $93.1m $93.1m 0.06% Added +1.1m +1,104,604
9 Wealthfront Advisers LLC 0.23% of their portfolio Palo Alto, CA 3,584,7773.6m $87.4m $87.4m 0.23% Reduced -331.4k -331,386
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,268,1553.3m $79.7m $79.7m 0.01% Added +225.0k +224,985
11 Cerity Partners LLC 0.14% of their portfolio NEW YORK, NY 3,267,6503.3m $79.7m $79.7m 0.14% Added +3.2m +3,205,930
12 Moisand Fitzgerald Tamayo, LLC 10.01% of their portfolio ORLANDO, FL 3,245,1963.2m $79.1m $79.1m 10.01% Added +1.2m +1,158,797
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,100,0003.1m $75.6m $75.6m 0.00% Unchanged
14 Clearwater Capital Advisors, LLC 5.48% of their portfolio HOFFMAN ESTATES, IL 2,461,9502.5m $60.0m $60.0m 5.48% Reduced -3.3k -3,284
15 RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio NEW YORK, NY 2,432,3292.4m $59.3m $59.3m 0.08% Reduced -1.9m -1,946,347
16 MCF Advisors LLC 3.91% of their portfolio LEXINGTON, KY 2,425,6642.4m $59.1m $59.1m 3.91% Reduced -423.4k -423,402
17 Bangor Savings Bank 4.63% of their portfolio BANGOR, ME 2,125,2262.1m $51.8m $51.8m 4.63% Added +317.6k +317,598
18 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,941,0181.9m $47.3m $47.3m 0.01% Reduced -26.2k -26,202
19 STEPHENS GROUP ASSET MANAGEMENT, LLC 3.29% of their portfolio LITTLE ROCK, AR 1,876,6681.9m $45.8m $45.8m 3.29% Added +1.5m +1,486,385
20 MERCER GLOBAL ADVISORS INC /ADV 0.10% of their portfolio DENVER, CO 1,866,8791.9m $45.5m $45.5m 0.10% Reduced -55.8k -55,796
21 LVW Advisors, LLC 5.01% of their portfolio PITTSFORD, NY 1,834,6001.8m $44.7m $44.7m 5.01% Reduced -85.8k -85,772
22 FIDUCIARY FINANCIAL GROUP, LLC 7.78% of their portfolio SAN RAFAEL, CA 1,772,7061.8m $43.0m $43.0m 7.78% Added +156.2k +156,220
23 TruNorth Capital Management, LLC 9.43% of their portfolio KALAMAZOO, MI 1,739,6721.7m $42.4m $42.4m 9.43% Added +95.8k +95,773
24 Morningstar Investment Management LLC 3.60% of their portfolio CHICAGO, IL 1,681,7381.7m $41.0m $41.0m 3.60% Reduced -288.4k -288,391
25 DAVENPORT & Co LLC 0.20% of their portfolio RICHMOND, VA 1,507,9111.5m $36.8m $36.8m 0.20% Added +55.8k +55,823
26 FLC Capital Advisors 7.33% of their portfolio PALM DESERT, CA 1,454,8131.5m $35.5m $35.5m 7.33% Added +234.6k +234,601
27 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.06% of their portfolio PLYMOUTH, MN 1,451,4471.5m $35.2m $35.2m 0.06% Added +55.1k +55,145
28 BRANDYWINE OAK PRIVATE WEALTH LLC 3.15% of their portfolio Kennett Square, PA 1,396,1281.4m $34.0m $34.0m 3.15% Added +21.6k +21,567
29 SCS Capital Management LLC 0.36% of their portfolio BOSTON, MA 1,331,7531.3m $32.5m $32.5m 0.36% Added +18.6k +18,633
30 High Probability Advisors, LLC 4.62% of their portfolio Pittsford, NY 1,266,8101.3m $30.9m $30.9m 4.62% Added +19.1k +19,054
31 Midwest Trust Co 0.41% of their portfolio Overland Park, KS 1,202,2051.2m $29.3m $29.3m 0.41% First filing
32 LEAVELL INVESTMENT MANAGEMENT, INC. 1.29% of their portfolio MOBILE, AL 1,177,2271.2m $28.7m $28.7m 1.29% Added +39.0k +38,969
33 Passive Capital Management, LLC. 8.44% of their portfolio BALTIMORE, MD 1,116,8121.1m $27.1m $27.1m 8.44% Reduced -65.3k -65,292
34 Merit Financial Group, LLC 0.30% of their portfolio ALPHARETTA, GA 1,092,9691.1m $26.6m $26.6m 0.30% Added +191.6k +191,629
35 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 1,075,9811.1m $26.2m $26.2m 0.18% Added +38.1k +38,115
36 Stratos Wealth Advisors, LLC 1.37% of their portfolio BEACHWOOD, OH 1,068,2651.1m $26.0m $26.0m 1.37% Reduced -4.7k -4,661
37 United Capital Management of KS, Inc. 4.04% of their portfolio SALINA, KS 1,056,5701.1m $25.8m $25.8m 4.04% Reduced -587.9k -587,862
38 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 1,045,8001.0m $25.5m $25.5m 0.04% Reduced -52.0k -51,989
39 Holcombe Financial, Inc. 18.61% of their portfolio ATLANTA, GA 1,013,5271.0m $24.7m $24.7m 18.61% Added +43.7k +43,710
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 981,282981.3k $23.9m $23.9m 0.00% Added +478.5k +478,518
41 Charles Schwab Trust Co 1.71% of their portfolio HENDERSON, NV 932,766932.8k $22.7m $22.7m 1.71% Added +112.8k +112,752
42 Williams Financial, LLC 24.76% of their portfolio NORTH BENNINGTON, VT 931,641931.6k $22.7m $22.7m 24.76% Added +132.1k +132,069
43 UBS Group AG 0.00% of their portfolio ZURICH, V8 920,985921.0k $22.5m $22.5m 0.00% Added +85.0k +85,043
44 Altiora Financial Group, LLC 4.37% of their portfolio LEBANON, OH 917,059917.1k $22.4m $22.4m 4.37% Reduced -17.2k -17,185
45 ASSETMARK, INC 0.05% of their portfolio CONCORD, CA 888,728888.7k $21.7m $21.7m 0.05% Added +236.2k +236,229
46 Avior Wealth Management, LLC 0.73% of their portfolio OMAHA, NE 863,939863.9k $21.1m $21.1m 0.73% Added +23.8k +23,811
47 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 830,923830.9k $20.3m $20.3m 0.01% Reduced -7.2k -7,166
48 MassMutual Private Wealth & Trust, FSB 0.54% of their portfolio Windsor, CT 824,418824.4k $20.1m $20.1m 0.54% Reduced -7.0k -7,008
49 Galvin, Gaustad & Stein, LLC 1.65% of their portfolio Scottsdale, AZ 786,562786.6k $19.2m $19.2m 1.65% Added +132.4k +132,363
50 Fund Evaluation Group, LLC 0.73% of their portfolio CINCINNATI, OH 772,924772.9k $18.8m $18.8m 0.73% Unchanged
51 AdvisorNet Financial, Inc 1.21% of their portfolio MINNETONKA, MN 766,599766.6k $18.7m $18.7m 1.21% Added +9.5k +9,501
52 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 749,505749.5k $18.3m $18.3m 0.03% Added +9.2k +9,166
53 Journey Advisory Group, LLC 1.40% of their portfolio COVINGTON, KY 738,743738.7k $18.0m $18.0m 1.40% Added +39.8k +39,829
54 Courage Miller Partners, LLC 5.61% of their portfolio NORFOLK, VA 726,303726.3k $17.7m $17.7m 5.61% Reduced -30.8k -30,835
55 NOVEM GROUP 2.08% of their portfolio Rochester, NY 671,643671.6k $16.4m $16.4m 2.08% Added +40.9k +40,924
56 Inspire Investing, LLC 1.74% of their portfolio MERIDIAN, ID 655,590655.6k $16.0m $16.0m 1.74% Reduced -276.6k -276,570
57 JPL Wealth Management, LLC 4.27% of their portfolio GREENWOOD VILLAGE, CO 648,752648.8k $15.8m $15.8m 4.27% Added +70.6k +70,586
58 ACCESS FINANCIAL SERVICES, INC. 5.84% of their portfolio MINNEAPOLIS, MN 633,783633.8k $15.5m $15.5m 5.84% Added +610.9k +610,888
59 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 615,689615.7k $15.0m $15.0m 0.01% Reduced -52.7k -52,709
60 Main Street Group, LTD 4.88% of their portfolio GLEN ALLEN, VA 615,112615.1k $15.0m $15.0m 4.88% Added +106.0k +105,968
61 MBM WEALTH CONSULTANTS, LLC 4.00% of their portfolio CHESTERFIELD, MO 612,274612.3k $14.9m $14.9m 4.00% Added +39.6k +39,555
62 Resonant Capital Advisors, LLC 0.92% of their portfolio Madison, WI 590,469590.5k $14.4m $14.4m 0.92% Reduced -32.7k -32,742
63 Robinswood Financial LLC 5.06% of their portfolio KIRKLAND, WA 586,081586.1k $14.3m $14.3m 5.06% Reduced -14.0k -14,028
64 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 585,777585.8k $14.3m $14.3m 0.00% Added +399.2k +399,216
65 Pure Financial Advisors, LLC 0.25% of their portfolio SAN DIEGO, CA 577,136577.1k $14.1m $14.1m 0.25% Added +7.1k +7,122
66 Marotta Asset Management 2.80% of their portfolio CHARLOTTESVILLE, VA 573,096573.1k $14.0m $14.0m 2.80% Added +285.8k +285,808
67 World Investment Advisors 0.32% of their portfolio LINCROFT, NJ 572,558572.6k $14.0m $14.0m 0.32% Added +11.4k +11,378
68 BALLAST ADVISORS LLC 4.10% of their portfolio WOODBURY, MN 570,173570.2k $13.9m $13.9m 4.10% Added +30.6k +30,629
69 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 569,603569.6k $13.9m $13.9m 0.01% Added +387.2k +387,155
70 AlphaStar Capital Management, LLC 0.97% of their portfolio CORNELIUS, NC 567,621567.6k $13.8m $13.8m 0.97% New
71 Avidian Wealth Enterprises, LLC 0.56% of their portfolio Houston, TX 563,358563.4k $13.7m $13.7m 0.56% Added +18.9k +18,913
72 Alesco Advisors, LLC, An ESL Co 0.39% of their portfolio Pittsford, NY 561,392561.4k $13.7m $13.7m 0.39% Added +193.6k +193,610
73 Waverly Advisors, LLC 0.15% of their portfolio BIRMINGHAM, AL 560,748560.7k $13.7m $13.7m 0.15% Added +9.6k +9,566
74 Cloud Capital Management, LLC 8.39% of their portfolio SEATTLE, WA 553,342553.3k $13.5m $13.5m 8.39% Reduced -22.2k -22,170
75 Towneley Capital Management, Inc / DE 2.99% of their portfolio LAGUNA HILLS, CA 535,171535.2k $13.0m $13.0m 2.99% Reduced -279.0k -279,044
76 Northeast Financial Group, Inc. 3.98% of their portfolio Allentown, PA 515,223515.2k $12.6m $12.6m 3.98% Added +27.5k +27,490
77 BWM Planning, LLC 4.19% of their portfolio THE WOODLANDS, TX 499,090499.1k $12.2m $12.2m 4.19% Added +152.1k +152,101
78 DIVERSIFY WEALTH MANAGEMENT, LLC 0.73% of their portfolio SANDY, UT 486,704486.7k $11.8m $11.8m 0.73% Added +25.3k +25,339
79 DEBUSSY CAPITAL MANAGEMENT LP 1.75% of their portfolio CHICAGO, IL 478,649478.6k $11.7m $11.7m 1.75% Reduced -50.0k -49,998
80 Black Diamond Financial, LLC 1.78% of their portfolio TOWSON, MD 471,055471.1k $11.5m $11.5m 1.78% Reduced -29.4k -29,400
81 Meridian Wealth Partners, LLC 1.66% of their portfolio EXTON, PA 470,193470.2k $11.5m $11.5m 1.66% Added +22.8k +22,801
82 PURE PORTFOLIOS HOLDINGS LLC 3.73% of their portfolio LAKE OSWEGO, OR 451,998452.0k $11.0m $11.0m 3.73% Added +118.0k +118,023
83 Westover Capital Advisors, LLC 2.19% of their portfolio WILMINGTON, DE 449,523449.5k $11.0m $11.0m 2.19% Reduced -4.2k -4,197
84 RMR Wealth Builders 0.99% of their portfolio Montclair, NJ 445,132445.1k $10.9m $10.9m 0.99% Added +107.8k +107,768
85 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 444,031444.0k $10.8m $10.8m 0.01% Added +65.2k +65,157
86 Prairiewood Capital, LLC 3.94% of their portfolio FARGO, ND 435,102435.1k $10.6m $10.6m 3.94% Added +43.2k +43,174
87 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 434,959435.0k $10.6m $10.6m 0.01% Reduced -9.2k -9,183
88 WT Wealth Management 3.09% of their portfolio SCOTTSDALE, AZ 427,965428.0k $10.4m $10.4m 3.09% Reduced -29.3k -29,337
89 BROWN WEALTH MANAGEMENT, LLC 3.20% of their portfolio NAPERVILLE, IL 422,850422.9k $10.3m $10.3m 3.20% Reduced -113.3k -113,341
90 Diligent Investors, LLC 2.37% of their portfolio REDLANDS, CA 410,300410.3k $10.0m $10.0m 2.37% Added +401.2k +401,231
91 Mutual Advisors, LLC 0.25% of their portfolio OMAHA, NE 409,092409.1k $9.9m $9.9m 0.25% Added +25.1k +25,058
92 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 401,506401.5k $9.8m $9.8m 0.01% Added +77.5k +77,501
93 Act Two Investors LLC 1.97% of their portfolio SANTA CRUZ, CA 394,909394.9k $9.6m $9.6m 1.97% Added +35.3k +35,306
94 First National Trust Co 0.36% of their portfolio Johnstown, PA 394,510394.5k $9.6m $9.6m 0.36% Added +393 +393
95 Peterson Wealth Advisors, LLC 1.54% of their portfolio Orem, UT 382,422382.4k $9.3m $9.3m 1.54% Reduced -3.8k -3,828
96 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 375,574375.6k $9.2m $9.2m 0.01% Added +40.0k +40,029
97 ZynergyRetirementPlanningLLC 6.13% of their portfolio RED BANK, NJ 375,085375.1k $9.1m $9.1m 6.13% Reduced -8.6k -8,614
98 MGO ONE SEVEN LLC 0.29% of their portfolio Beachwood, OH 366,612366.6k $8.9m $8.9m 0.29% Reduced -143 -143
99 SIMS INVESTMENT MANAGEMENT, LLC 3.57% of their portfolio CINCINNATI, OH 363,671363.7k $8.9m $8.9m 3.57% Reduced -23.9k -23,887
100 Fifth Third Securities, Inc. 0.66% of their portfolio Cincinnati, OH 361,391361.4k $8.8m $8.8m 0.66% Added +35.5k +35,538