Vault-13

SCHWAB STRATEGIC TR SCHO

SHT TM US TRES · ETP · CUSIP 808524862

646 institutional holders -14 vs Q2 2025
340,819,311340.8m shares reported held*
$8.3bnreported value*
52 new 287 added 234 reduced 59 sold out net bought ≈ $597.3m (+24.2m 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 ($407.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $24.40.

Trends to Q3 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: 660Q3 25: 646646Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025646

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q4 23: 263 bought or addedQ4 23: 291 cut or sold outQ1 24: 300 bought or addedQ1 24: 280 cut or sold outQ1 24Q2 24: 284 bought or addedQ2 24: 285 cut or sold outQ3 24: 296 bought or addedQ3 24: 263 cut or sold outQ3 24Q4 24: 303 bought or addedQ4 24: 285 cut or sold outQ1 25: 336 bought or addedQ1 25: 282 cut or sold outQ1 25Q2 25: 329 bought or addedQ2 25: 289 cut or sold outQ3 25: 339 bought or addedQ3 25: 293 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023263291
Q1 2024300280
Q2 2024284285
Q3 2024296263
Q4 2024303285
Q1 2025336282
Q2 2025329289
Q3 2025339293

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ4 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 0.71Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$1.4m$1.1m0.79
Q1 2025$2.5m$934.7k0.37
Q2 2025$2.4m$1.7m0.71
Q3 2025$0$0—

Biggest buyers

JPMORGAN CHASE & CO Added +19,249,332+19.2m
BANK OF AMERICA CORP /DE/ Added +9,578,278+9.6m
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +1,292,926+1.3m
ACCESS FINANCIAL SERVICES, INC. Added +712,966+713.0k
SEI INVESTMENTS CO Added +570,536+570.5k
Merit Financial Group, LLC Added +469,323+469.3k
STIFEL FINANCIAL CORP Added +443,030+443.0k
Blue Sky Capital Consultants Group, Inc. Added +366,663+366.7k
CITIGROUP INC Added +357,473+357.5k
Oakwell Private Wealth Management, LLC New +336,282+336.3k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -3,676,068-3.7m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,278,672-1.3m
LPL Financial LLC Reduced -1,065,544-1.1m
ASSETMARK, INC Reduced -792,008-792.0k
BRANDYWINE OAK PRIVATE WEALTH LLC Reduced -642,224-642.2k
RENAISSANCE TECHNOLOGIES LLC Reduced -611,245-611.2k
AlphaStar Capital Management, LLC Sold out -567,621-567.6k
Cerity Partners LLC Reduced -500,148-500.1k
ROYAL BANK OF CANADA Reduced -497,484-497.5k
BNP PARIBAS FINANCIAL MARKETS Reduced -443,405-443.4k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.22% of their portfolio CHARLOTTE, NC 118,665,834118.7m $2.9bn $2.9bn 0.22% Added +9.6m +9,578,278
2 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 39,500,43639.5m $963.8m $963.8m 0.03% Added +19.2m +19,249,332
3 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 19,401,63919.4m $473.9m $473.9m 0.11% Reduced -3.7m -3,676,068
4 SEI INVESTMENTS CO 0.46% of their portfolio OAKS, PA 17,596,72917.6m $429.4m $429.4m 0.46% Added +570.5k +570,536
5 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 6,767,7406.8m $165.1m $165.1m 0.05% Reduced -1.3m -1,278,672
6 STIFEL FINANCIAL CORP 0.15% of their portfolio ST. LOUIS, MO 6,554,6006.6m $159.9m $159.9m 0.15% Added +443.0k +443,030
7 Wealthfront Advisers LLC 0.22% of their portfolio Palo Alto, CA 3,787,7473.8m $92.4m $92.4m 0.22% Added +203.0k +202,970
8 PNC Financial Services Group, Inc. 0.06% of their portfolio Pittsburgh, PA 3,763,1833.8m $91.8m $91.8m 0.06% Reduced -56.0k -56,021
9 Moisand Fitzgerald Tamayo, LLC 9.89% of their portfolio ORLANDO, FL 3,441,0653.4m $84.0m $84.0m 9.89% Added +195.9k +195,869
10 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 3,226,1833.2m $78.7m $78.7m 0.02% Reduced -1.1m -1,065,544
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,177,7503.2m $77.5m $77.5m 0.00% Reduced -90.4k -90,405
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,100,0003.1m $75.6m $75.6m 0.00% Unchanged
13 Cerity Partners LLC 0.11% of their portfolio NEW YORK, NY 2,767,5022.8m $67.5m $67.5m 0.11% Reduced -500.1k -500,148
14 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.10% of their portfolio PLYMOUTH, MN 2,744,3732.7m $66.9m $66.9m 0.10% Added +1.3m +1,292,926
15 MCF Advisors LLC 3.89% of their portfolio LEXINGTON, KY 2,601,2492.6m $63.5m $63.5m 3.89% Added +175.6k +175,585
16 Clearwater Capital Advisors, LLC 5.38% of their portfolio HOFFMAN ESTATES, IL 2,585,7702.6m $63.1m $63.1m 5.38% Added +123.8k +123,820
17 Bangor Savings Bank 4.54% of their portfolio BANGOR, ME 2,234,2762.2m $54.5m $54.5m 4.54% Added +109.0k +109,050
18 STEPHENS GROUP ASSET MANAGEMENT, LLC 3.42% of their portfolio LITTLE ROCK, AR 2,081,8462.1m $50.8m $50.8m 3.42% Added +205.2k +205,178
19 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,994,7512.0m $48.7m $48.7m 0.01% Added +53.7k +53,733
20 LVW Advisors, LLC 5.01% of their portfolio PITTSFORD, NY 1,982,0022.0m $48.4m $48.4m 5.01% Added +147.4k +147,402
21 FIDUCIARY FINANCIAL GROUP, LLC 7.37% of their portfolio SAN RAFAEL, CA 1,912,7841.9m $46.7m $46.7m 7.37% Added +140.1k +140,078
22 TruNorth Capital Management, LLC 8.80% of their portfolio KALAMAZOO, MI 1,823,9751.8m $44.5m $44.5m 8.80% Added +84.3k +84,303
23 RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio NEW YORK, NY 1,821,0841.8m $44.4m $44.4m 0.06% Reduced -611.2k -611,245
24 Morningstar Investment Management LLC 1.55% of their portfolio CHICAGO, IL 1,726,6721.7m $42.1m $42.1m 1.55% Added +44.9k +44,934
25 DAVENPORT & Co LLC 0.21% of their portfolio RICHMOND, VA 1,636,5481.6m $39.9m $39.9m 0.21% Added +128.6k +128,637
26 MERCER GLOBAL ADVISORS INC /ADV 0.06% of their portfolio DENVER, CO 1,582,3421.6m $38.6m $38.6m 0.06% Reduced -284.5k -284,537
27 Merit Financial Group, LLC 0.35% of their portfolio ALPHARETTA, GA 1,562,2921.6m $38.1m $38.1m 0.35% Added +469.3k +469,323
28 FLC Capital Advisors 7.21% of their portfolio PALM DESERT, CA 1,525,2611.5m $37.2m $37.2m 7.21% Added +70.4k +70,448
29 High Probability Advisors, LLC 4.76% of their portfolio Pittsford, NY 1,423,5261.4m $34.7m $34.7m 4.76% Added +156.7k +156,716
30 ACCESS FINANCIAL SERVICES, INC. 11.90% of their portfolio MINNEAPOLIS, MN 1,346,7491.3m $32.9m $32.9m 11.90% Added +713.0k +712,966
31 SCS Capital Management LLC 0.35% of their portfolio BOSTON, MA 1,323,2781.3m $32.3m $32.3m 0.35% Reduced -8.5k -8,475
32 LEAVELL INVESTMENT MANAGEMENT, INC. 1.27% of their portfolio MOBILE, AL 1,236,1171.2m $30.2m $30.2m 1.27% Added +58.9k +58,890
33 Midwest Trust Co 0.38% of their portfolio Overland Park, KS 1,210,9321.2m $29.5m $29.5m 0.38% Added +8.7k +8,727
34 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 1,169,3111.2m $28.5m $28.5m 0.18% Added +93.3k +93,330
35 United Capital Management of KS, Inc. 3.67% of their portfolio SALINA, KS 1,106,3041.1m $27.0m $27.0m 3.67% Added +49.7k +49,734
36 Passive Capital Management, LLC. 8.78% of their portfolio BALTIMORE, MD 1,103,8901.1m $26.9m $26.9m 8.78% Reduced -12.9k -12,922
37 Holcombe Financial, Inc. 18.21% of their portfolio ATLANTA, GA 1,069,2101.1m $26.1m $26.1m 18.21% Added +55.7k +55,683
38 Charles Schwab Trust Co 1.66% of their portfolio HENDERSON, NV 1,002,7051.0m $24.5m $24.5m 1.66% Added +69.9k +69,939
39 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 986,161986.2k $24.1m $24.1m 0.03% Reduced -59.6k -59,639
40 Williams Financial, LLC 23.79% of their portfolio NORTH BENNINGTON, VT 945,377945.4k $23.1m $23.1m 23.79% Added +13.7k +13,736
41 UBS Group AG 0.00% of their portfolio ZURICH, V8 943,474943.5k $23.0m $23.0m 0.00% Added +22.5k +22,489
42 Avior Wealth Management, LLC 0.71% of their portfolio OMAHA, NE 900,525900.5k $22.0m $22.0m 0.71% Added +36.6k +36,586
43 Altiora Financial Group, LLC 3.94% of their portfolio LEBANON, OH 882,842882.8k $21.5m $21.5m 3.94% Reduced -34.2k -34,217
44 Galvin, Gaustad & Stein, LLC 1.69% of their portfolio Scottsdale, AZ 852,449852.4k $20.8m $20.8m 1.69% Added +65.9k +65,887
45 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 846,895846.9k $20.7m $20.7m 0.01% Added +16.0k +15,972
46 MassMutual Private Wealth & Trust, FSB 0.52% of their portfolio Windsor, CT 840,843840.8k $20.5m $20.5m 0.52% Added +16.4k +16,425
47 MBM WEALTH CONSULTANTS, LLC 4.89% of their portfolio CHESTERFIELD, MO 806,752806.8k $19.7m $19.7m 4.89% Added +194.5k +194,478
48 Courage Miller Partners, LLC 5.83% of their portfolio NORFOLK, VA 797,617797.6k $19.5m $19.5m 5.83% Added +71.3k +71,314
49 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 788,085788.1k $19.2m $19.2m 0.03% Added +38.6k +38,580
50 AdvisorNet Financial, Inc 1.08% of their portfolio MINNETONKA, MN 784,811784.8k $19.1m $19.1m 1.08% Added +18.2k +18,212
51 Fund Evaluation Group, LLC 0.68% of their portfolio CINCINNATI, OH 772,924772.9k $18.9m $18.9m 0.68% Unchanged
52 Journey Advisory Group, LLC 1.37% of their portfolio COVINGTON, KY 758,142758.1k $18.5m $18.5m 1.37% Added +19.4k +19,399
53 BRANDYWINE OAK PRIVATE WEALTH LLC 1.60% of their portfolio Kennett Square, PA 753,904753.9k $18.4m $18.4m 1.60% Reduced -642.2k -642,224
54 NOVEM GROUP 2.09% of their portfolio Rochester, NY 719,739719.7k $17.6m $17.6m 2.09% Added +48.1k +48,096
55 Stratos Wealth Advisors, LLC 0.83% of their portfolio BEACHWOOD, OH 706,122706.1k $17.2m $17.2m 0.83% Reduced -362.1k -362,143
56 Waverly Advisors, LLC 0.17% of their portfolio BIRMINGHAM, AL 686,393686.4k $16.7m $16.7m 0.17% Added +125.6k +125,645
57 JPL Wealth Management, LLC 3.91% of their portfolio GREENWOOD VILLAGE, CO 675,767675.8k $16.5m $16.5m 3.91% Added +27.0k +27,015
58 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 661,263661.3k $16.1m $16.1m 0.01% Added +45.6k +45,574
59 Inspire Investing, LLC 1.57% of their portfolio MERIDIAN, ID 660,920660.9k $16.1m $16.1m 1.57% Added +5.3k +5,330
60 Main Street Group, LTD 4.50% of their portfolio GLEN ALLEN, VA 629,232629.2k $15.4m $15.4m 4.50% Added +14.1k +14,120
61 BALLAST ADVISORS LLC 4.19% of their portfolio WOODBURY, MN 623,769623.8k $15.2m $15.2m 4.19% Added +53.6k +53,596
62 Robinswood Financial LLC 4.93% of their portfolio KIRKLAND, WA 605,250605.2k $14.8m $14.8m 4.93% Added +19.2k +19,169
63 Alesco Advisors, LLC, An ESL Co 0.40% of their portfolio Pittsford, NY 600,176600.2k $14.6m $14.6m 0.40% Added +38.8k +38,784
64 Resonant Capital Advisors, LLC 0.84% of their portfolio Madison, WI 594,156594.2k $14.5m $14.5m 0.84% Added +3.7k +3,687
65 Pure Financial Advisors, LLC 0.23% of their portfolio SAN DIEGO, CA 588,389588.4k $14.4m $14.4m 0.23% Added +11.3k +11,253
66 Marotta Asset Management 2.68% of their portfolio CHARLOTTESVILLE, VA 585,005585.0k $14.3m $14.3m 2.68% Added +11.9k +11,909
67 Avidian Wealth Enterprises, LLC 0.53% of their portfolio Houston, TX 577,821577.8k $14.1m $14.1m 0.53% Added +14.5k +14,463
68 Black Diamond Financial, LLC 1.57% of their portfolio TOWSON, MD 573,030573.0k $14.0m $14.0m 1.57% Added +102.0k +101,975
69 PURE PORTFOLIOS HOLDINGS LLC 4.37% of their portfolio LAKE OSWEGO, OR 572,199572.2k $14.0m $14.0m 4.37% Added +120.2k +120,201
70 BWM Planning, LLC 4.09% of their portfolio THE WOODLANDS, TX 563,185563.2k $13.7m $13.7m 4.09% Added +64.1k +64,095
71 World Investment Advisors 0.28% of their portfolio LINCROFT, NJ 560,781560.8k $13.7m $13.7m 0.28% Reduced -11.8k -11,777
72 Northeast Financial Group, Inc. 3.35% of their portfolio Allentown, PA 552,024552.0k $13.5m $13.5m 3.35% Added +36.8k +36,801
73 Cloud Capital Management, LLC 7.07% of their portfolio SEATTLE, WA 550,048550.0k $13.4m $13.4m 7.07% Reduced -3.3k -3,294
74 RMR Wealth Builders 1.12% of their portfolio Montclair, NJ 547,150547.1k $13.4m $13.4m 1.12% Added +102.0k +102,018
75 Towneley Capital Management, Inc / DE 2.81% of their portfolio LAGUNA HILLS, CA 529,429529.4k $12.9m $12.9m 2.81% Reduced -5.7k -5,742
76 DEBUSSY CAPITAL MANAGEMENT LP 1.73% of their portfolio CHICAGO, IL 500,122500.1k $12.2m $12.2m 1.73% Added +21.5k +21,473
77 Meridian Wealth Partners, LLC 1.67% of their portfolio EXTON, PA 498,390498.4k $12.2m $12.2m 1.67% Added +28.2k +28,197
78 Prairiewood Capital, LLC 4.02% of their portfolio FARGO, ND 496,441496.4k $12.1m $12.1m 4.02% Added +61.3k +61,339
79 DIVERSIFY WEALTH MANAGEMENT, LLC 0.69% of their portfolio SANDY, UT 493,518493.5k $12.0m $12.0m 0.69% Added +6.8k +6,814
80 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 488,303488.3k $11.9m $11.9m 0.01% Reduced -81.3k -81,300
81 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 483,798483.8k $11.8m $11.8m 0.00% Reduced -497.5k -497,484
82 BROWN WEALTH MANAGEMENT, LLC 3.30% of their portfolio NAPERVILLE, IL 482,216482.2k $11.8m $11.8m 3.30% Added +59.4k +59,366
83 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 480,576480.6k $11.7m $11.7m 0.01% Added +45.6k +45,617
84 Westover Capital Advisors, LLC 2.08% of their portfolio WILMINGTON, DE 460,741460.7k $11.2m $11.2m 2.08% Added +11.2k +11,218
85 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 436,658436.7k $10.7m $10.7m 0.03% Added +136.7k +136,739
86 Peterson Wealth Advisors, LLC 1.55% of their portfolio Orem, UT 424,359424.4k $10.3m $10.3m 1.55% Added +41.9k +41,937
87 Mutual Advisors, LLC 0.23% of their portfolio OMAHA, NE 423,899423.9k $10.4m $10.4m 0.23% Added +14.8k +14,807
88 SIMS INVESTMENT MANAGEMENT, LLC 3.58% of their portfolio CINCINNATI, OH 405,938405.9k $9.9m $9.9m 3.58% Added +42.3k +42,267
89 First National Trust Co 0.34% of their portfolio Johnstown, PA 404,893404.9k $9.9m $9.9m 0.34% Added +10.4k +10,383
90 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 401,195401.2k $9.8m $9.8m 0.01% Reduced -311 -311
91 Act Two Investors LLC 1.69% of their portfolio SANTA CRUZ, CA 391,611391.6k $9.6m $9.6m 1.69% Reduced -3.3k -3,298
92 Blue Sky Capital Consultants Group, Inc. 4.18% of their portfolio Poway, CA 390,273390.3k $9.5m $9.5m 4.18% Added +366.7k +366,663
93 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 387,483387.5k $9.5m $9.5m 0.01% Added +357.5k +357,473
94 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 387,001387.0k $9.4m $9.4m 0.01% Added +11.4k +11,427
95 Phil A. Younker & Associates, Ltd. 7.15% of their portfolio FAIRBANKS, AK 382,781382.8k $9.3m $9.3m 7.15% Added +66.2k +66,230
96 ZynergyRetirementPlanningLLC 5.87% of their portfolio RED BANK, NJ 381,363381.4k $9.3m $9.3m 5.87% Added +6.3k +6,278
97 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 373,981374.0k $9.1m $9.1m 0.01% Added +122.5k +122,509
98 Fifth Third Securities, Inc. 0.61% of their portfolio Cincinnati, OH 365,839365.8k $8.9m $8.9m 0.61% Added +4.4k +4,448
99 Roundview Capital LLC 0.56% of their portfolio PRINCETON, NJ 363,687363.7k $8.9m $8.9m 0.56% Added +3.4k +3,355
100 SMI Advisory Services, LLC 1.66% of their portfolio COLUMBUS, IN 360,722360.7k $8.8m $8.8m 1.66% Added +2.7k +2,700