Vault-13

SCHWAB STRATEGIC TR SCHO

SHT TM US TRES · ETP · CUSIP 808524862

685 institutional holders +39 vs Q3 2025
329,718,085329.7m shares reported held*
$8.0bnreported value*
56 new 310 added 205 reduced 46 sold out net sold ≈ $334.0m (-13.7m 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 ($1.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $24.38.

Trends to Q4 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: 646Q4 25: 685685Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025685

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q1 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 25Q3 25: 339 bought or addedQ3 25: 293 cut or sold outQ4 25: 366 bought or addedQ4 25: 251 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024300280
Q2 2024284285
Q3 2024296263
Q4 2024303285
Q1 2025336282
Q2 2025329289
Q3 2025339293
Q4 2025366251

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ1 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 —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$2.5m$934.7k0.37
Q2 2025$2.4m$1.7m0.71
Q3 2025$0$0—
Q4 2025$0$0—

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +3,835,325+3.8m
Willis Johnson & Associates, Inc. New +1,359,076+1.4m
United Capital Management of KS, Inc. Added +1,149,566+1.1m
SEI INVESTMENTS CO Added +1,003,826+1.0m
Savant Capital, LLC Added +729,248+729.2k
ENVESTNET ASSET MANAGEMENT INC Added +705,193+705.2k
Brooklyn Investment Group New +685,399+685.4k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Added +433,210+433.2k
Triad Wealth Partners, LLC New +405,359+405.4k
Merit Financial Group, LLC Added +327,024+327.0k

Biggest sellers

JPMORGAN CHASE & CO Reduced -18,392,789-18.4m
Clearwater Capital Advisors, LLC Reduced -2,033,683-2.0m
RENAISSANCE TECHNOLOGIES LLC Reduced -1,781,261-1.8m
MORGAN STANLEY Reduced -1,644,350-1.6m
LPL Financial LLC Reduced -1,497,729-1.5m
Williams Financial, LLC Sold out -945,377-945.4k
Cerity Partners LLC Reduced -656,792-656.8k
Altiora Financial Group, LLC Reduced -543,831-543.8k
STIFEL FINANCIAL CORP Reduced -526,835-526.8k
NATIONAL BANK OF CANADA /FI/ Reduced -488,300-488.3k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.22% of their portfolio CHARLOTTE, NC 122,501,159122.5m $3.0bn $3.0bn 0.22% Added +3.8m +3,835,325
2 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 21,107,64721.1m $514.4m $514.4m 0.03% Reduced -18.4m -18,392,789
3 AMERIPRISE FINANCIAL INC 0.11% of their portfolio MINNEAPOLIS, MN 18,996,85619.0m $465.0m $465.0m 0.11% Reduced -404.8k -404,783
4 SEI INVESTMENTS CO 0.45% of their portfolio OAKS, PA 18,600,55518.6m $453.3m $453.3m 0.45% Added +1.0m +1,003,826
5 ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio Berwyn, PA 7,472,9337.5m $182.1m $182.1m 0.05% Added +705.2k +705,193
6 STIFEL FINANCIAL CORP 0.13% of their portfolio ST. LOUIS, MO 6,027,7656.0m $146.9m $146.9m 0.13% Reduced -526.8k -526,835
7 Wealthfront Advisers LLC 0.22% of their portfolio Palo Alto, CA 4,077,3254.1m $99.4m $99.4m 0.22% Added +289.6k +289,578
8 PNC Financial Services Group, Inc. 0.05% of their portfolio Pittsburgh, PA 3,876,3033.9m $94.5m $94.5m 0.05% Added +113.1k +113,120
9 Moisand Fitzgerald Tamayo, LLC 10.10% of their portfolio ORLANDO, FL 3,670,5143.7m $89.5m $89.5m 10.10% Added +229.4k +229,449
10 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio PLYMOUTH, MN 3,177,5833.2m $77.5m $77.5m 0.11% Added +433.2k +433,210
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,100,0003.1m $75.5m $75.5m 0.00% Unchanged
12 MCF Advisors LLC 3.65% of their portfolio LEXINGTON, KY 2,711,6042.7m $66.1m $66.1m 3.65% Added +110.4k +110,355
13 Bangor Savings Bank 4.79% of their portfolio BANGOR, ME 2,443,5422.4m $59.5m $59.5m 4.79% Added +209.3k +209,266
14 United Capital Management of KS, Inc. 3.85% of their portfolio SALINA, KS 2,255,8702.3m $55.0m $55.0m 3.85% Added +1.1m +1,149,566
15 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,157,5362.2m $52.6m $52.6m 0.01% Added +162.8k +162,785
16 Cerity Partners LLC 0.07% of their portfolio NEW YORK, NY 2,110,7102.1m $51.4m $51.4m 0.07% Reduced -656.8k -656,792
17 STEPHENS GROUP ASSET MANAGEMENT, LLC 3.38% of their portfolio LITTLE ROCK, AR 2,077,8132.1m $50.6m $50.6m 3.38% Reduced -4.0k -4,033
18 LVW Advisors, LLC 5.12% of their portfolio PITTSFORD, NY 2,072,2342.1m $50.5m $50.5m 5.12% Added +90.2k +90,232
19 FIDUCIARY FINANCIAL GROUP, LLC 6.72% of their portfolio SAN RAFAEL, CA 1,952,0522.0m $47.6m $47.6m 6.72% Added +39.3k +39,268
20 TruNorth Capital Management, LLC 8.96% of their portfolio KALAMAZOO, MI 1,937,9881.9m $47.2m $47.2m 8.96% Added +114.0k +114,013
21 Merit Financial Group, LLC 0.37% of their portfolio ALPHARETTA, GA 1,889,3161.9m $46.0m $46.0m 0.37% Added +327.0k +327,024
22 DAVENPORT & Co LLC 0.23% of their portfolio RICHMOND, VA 1,731,0251.7m $42.2m $42.2m 0.23% Added +94.5k +94,477
23 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 1,728,4541.7m $42.1m $42.1m 0.01% Reduced -1.5m -1,497,729
24 Morningstar Investment Management LLC 2.48% of their portfolio CHICAGO, IL 1,726,6721.7m $42.1m $42.1m 2.48% Unchanged
25 FLC Capital Advisors 7.33% of their portfolio PALM DESERT, CA 1,629,2111.6m $39.7m $39.7m 7.33% Added +104.0k +103,950
26 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,533,4001.5m $37.4m $37.4m 0.00% Reduced -1.6m -1,644,350
27 High Probability Advisors, LLC 4.77% of their portfolio Pittsford, NY 1,469,1421.5m $35.8m $35.8m 4.77% Added +45.6k +45,616
28 MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio DENVER, CO 1,437,5251.4m $35.0m $35.0m 0.05% Reduced -144.8k -144,817
29 SCS Capital Management LLC 0.36% of their portfolio BOSTON, MA 1,402,8841.4m $34.2m $34.2m 0.36% Added +79.6k +79,606
30 ACCESS FINANCIAL SERVICES, INC. 12.26% of their portfolio MINNEAPOLIS, MN 1,381,5851.4m $33.7m $33.7m 12.26% Added +34.8k +34,836
31 Willis Johnson & Associates, Inc. 2.04% of their portfolio Houston, TX 1,359,0761.4m $33.1m $33.1m 2.04% New
32 Midwest Trust Co 0.40% of their portfolio Overland Park, KS 1,322,6921.3m $32.2m $32.2m 0.40% Added +111.8k +111,760
33 LEAVELL INVESTMENT MANAGEMENT, INC. 1.30% of their portfolio MOBILE, AL 1,284,8691.3m $31.3m $31.3m 1.30% Added +48.8k +48,752
34 MAI Capital Management 0.18% of their portfolio INDEPENDENCE, OH 1,263,5701.3m $30.8m $30.8m 0.18% Added +94.3k +94,259
35 Passive Capital Management, LLC. 8.89% of their portfolio BALTIMORE, MD 1,166,2841.2m $28.4m $28.4m 8.89% Added +62.4k +62,394
36 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,119,0171.1m $27.3m $27.3m 0.01% Added +175.5k +175,543
37 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 1,054,4721.1m $25.7m $25.7m 0.03% Added +68.3k +68,311
38 Charles Schwab Trust Co 1.66% of their portfolio HENDERSON, NV 1,037,2191.0m $25.3m $25.3m 1.66% Added +34.5k +34,514
39 Avior Wealth Management, LLC 0.75% of their portfolio OMAHA, NE 983,861983.9k $24.0m $24.0m 0.75% Added +83.3k +83,336
40 Holcombe Financial, Inc. 14.69% of their portfolio ATLANTA, GA 959,862959.9k $23.4m $23.4m 14.69% Reduced -109.3k -109,348
41 Savant Capital, LLC 0.13% of their portfolio ROCKFORD, IL 932,951933.0k $22.7m $22.7m 0.13% Added +729.2k +729,248
42 MBM WEALTH CONSULTANTS, LLC 5.21% of their portfolio CHESTERFIELD, MO 899,719899.7k $21.9m $21.9m 5.21% Added +93.0k +92,967
43 Galvin, Gaustad & Stein, LLC 1.68% of their portfolio Scottsdale, AZ 882,638882.6k $21.5m $21.5m 1.68% Added +30.2k +30,189
44 Waverly Advisors, LLC 0.17% of their portfolio BIRMINGHAM, AL 877,529877.5k $21.4m $21.4m 0.17% Added +191.1k +191,136
45 MassMutual Private Wealth & Trust, FSB 0.53% of their portfolio Windsor, CT 848,705848.7k $20.7m $20.7m 0.53% Added +7.9k +7,862
46 TRUIST FINANCIAL CORP 0.03% of their portfolio CHARLOTTE, NC 845,565845.6k $20.6m $20.6m 0.03% Added +57.5k +57,480
47 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 812,517812.5k $19.8m $19.8m 0.01% Reduced -34.4k -34,378
48 Journey Advisory Group, LLC 1.63% of their portfolio COVINGTON, KY 795,344795.3k $19.4m $19.4m 1.63% Added +37.2k +37,202
49 Courage Miller Partners, LLC 5.83% of their portfolio NORFOLK, VA 794,567794.6k $19.4m $19.4m 5.83% Reduced -3.0k -3,050
50 AdvisorNet Financial, Inc 1.03% of their portfolio MINNETONKA, MN 790,290790.3k $19.3m $19.3m 1.03% Added +5.5k +5,479
51 Fund Evaluation Group, LLC 0.62% of their portfolio CINCINNATI, OH 772,924772.9k $18.8m $18.8m 0.62% Unchanged
52 NOVEM GROUP 2.14% of their portfolio Rochester, NY 757,520757.5k $18.5m $18.5m 2.14% Added +37.8k +37,781
53 BRANDYWINE OAK PRIVATE WEALTH LLC 1.54% of their portfolio Kennett Square, PA 753,731753.7k $18.4m $18.4m 1.54% Reduced -173 -173
54 Inspire Investing, LLC 1.62% of their portfolio MERIDIAN, ID 737,734737.7k $18.0m $18.0m 1.62% Added +76.8k +76,814
55 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 734,359734.4k $17.9m $17.9m 0.01% Added +73.1k +73,096
56 Black Diamond Financial, LLC 1.79% of their portfolio TOWSON, MD 697,251697.3k $17.0m $17.0m 1.79% Added +124.2k +124,221
57 Brooklyn Investment Group 0.77% of their portfolio NEW YORK, NY 685,399685.4k $16.7m $16.7m 0.77% New
58 Resonant Capital Advisors, LLC 0.90% of their portfolio Madison, WI 671,112671.1k $16.4m $16.4m 0.90% Added +77.0k +76,956
59 Stratos Wealth Advisors, LLC 0.78% of their portfolio BEACHWOOD, OH 666,641666.6k $16.2m $16.2m 0.78% Reduced -39.5k -39,481
60 RMR Wealth Builders 1.28% of their portfolio Montclair, NJ 656,804656.8k $16.0m $16.0m 1.28% Added +109.7k +109,654
61 BALLAST ADVISORS LLC 4.37% of their portfolio WOODBURY, MN 650,187650.2k $15.8m $15.8m 4.37% Added +26.4k +26,418
62 Robinswood Financial LLC 4.93% of their portfolio KIRKLAND, WA 631,962632.0k $15.4m $15.4m 4.93% Added +26.7k +26,712
63 BWM Planning, LLC 4.10% of their portfolio THE WOODLANDS, TX 629,939629.9k $15.4m $15.4m 4.10% Added +66.8k +66,754
64 KRM WEALTH MANAGEMENT L.L.C. 8.35% of their portfolio RENO, NV 624,993625.0k $15.2m $15.2m 8.35% First filing
65 Alesco Advisors, LLC, An ESL Co 0.39% of their portfolio Pittsford, NY 618,801618.8k $15.1m $15.1m 0.39% Added +18.6k +18,625
66 JPL Wealth Management, LLC 3.64% of their portfolio GREENWOOD VILLAGE, CO 613,191613.2k $14.9m $14.9m 3.64% Reduced -62.6k -62,576
67 Pure Financial Advisors, LLC 0.21% of their portfolio SAN DIEGO, CA 596,850596.9k $14.5m $14.5m 0.21% Added +8.5k +8,461
68 Northeast Financial Group, Inc. 3.63% of their portfolio Allentown, PA 594,236594.2k $14.5m $14.5m 3.63% Added +42.2k +42,212
69 Marotta Asset Management 2.67% of their portfolio CHARLOTTESVILLE, VA 592,692592.7k $14.4m $14.4m 2.67% Added +7.7k +7,687
70 PURE PORTFOLIOS HOLDINGS LLC 4.35% of their portfolio LAKE OSWEGO, OR 592,210592.2k $14.4m $14.4m 4.35% Added +20.0k +20,011
71 Avidian Wealth Enterprises, LLC 0.53% of their portfolio Houston, TX 592,021592.0k $14.4m $14.4m 0.53% Added +14.2k +14,200
72 Clear Retirement Advice LLC 11.16% of their portfolio SAN MATEO, CA 588,651588.7k $14.3m $14.3m 11.16% First filing
73 World Investment Advisors 0.23% of their portfolio LINCROFT, NJ 565,126565.1k $13.8m $13.8m 0.23% Added +4.3k +4,345
74 Clearwater Capital Advisors, LLC 1.12% of their portfolio HOFFMAN ESTATES, IL 552,087552.1k $13.5m $13.5m 1.12% Reduced -2.0m -2,033,683
75 Cloud Capital Management, LLC 6.33% of their portfolio SEATTLE, WA 549,467549.5k $13.4m $13.4m 6.33% Reduced -581 -581
76 DEBUSSY CAPITAL MANAGEMENT LP 1.80% of their portfolio CHICAGO, IL 543,040543.0k $13.2m $13.2m 1.80% Added +42.9k +42,918
77 Prairiewood Capital, LLC 4.08% of their portfolio FARGO, ND 539,460539.5k $13.1m $13.1m 4.08% Added +43.0k +43,019
78 Towneley Capital Management, Inc / DE 2.76% of their portfolio LAGUNA HILLS, CA 537,693537.7k $13.1m $13.1m 2.76% Added +8.3k +8,264
79 Farther Finance Advisors, LLC 0.14% of their portfolio SAN FRANCISCO, CA 533,218533.2k $13.0m $13.0m 0.14% Added +296.8k +296,795
80 Meridian Wealth Partners, LLC 1.75% of their portfolio EXTON, PA 520,155520.2k $12.7m $12.7m 1.75% Added +21.8k +21,765
81 DIVERSIFY WEALTH MANAGEMENT, LLC 0.59% of their portfolio SANDY, UT 516,604516.6k $12.6m $12.6m 0.59% Added +23.1k +23,086
82 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 516,591516.6k $12.6m $12.6m 0.00% Added +32.8k +32,793
83 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 498,545498.5k $12.1m $12.1m 0.01% Added +97.3k +97,350
84 Westover Capital Advisors, LLC 2.17% of their portfolio WILMINGTON, DE 488,649488.6k $11.9m $11.9m 2.17% Added +27.9k +27,908
85 ZynergyRetirementPlanningLLC 7.28% of their portfolio RED BANK, NJ 483,964484.0k $11.8m $11.8m 7.28% Added +102.6k +102,601
86 Peterson Wealth Advisors, LLC 1.57% of their portfolio Orem, UT 481,950481.9k $11.7m $11.7m 1.57% Added +57.6k +57,591
87 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 481,839481.8k $11.7m $11.7m 0.03% Added +45.2k +45,181
88 Arnold Financial Planning LLC 10.90% of their portfolio HIAWATHA, IA 433,668433.7k $10.6m $10.6m 10.90% First filing
89 Mutual Advisors, LLC 0.22% of their portfolio OMAHA, NE 428,919428.9k $10.5m $10.5m 0.22% Added +5.0k +5,020
90 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 427,802427.8k $10.4m $10.4m 0.01% Reduced -52.8k -52,774
91 Blue Sky Capital Consultants Group, Inc. 4.52% of their portfolio Poway, CA 424,225424.2k $10.3m $10.3m 4.52% Added +34.0k +33,952
92 First National Trust Co 0.34% of their portfolio Johnstown, PA 413,382413.4k $10.1m $10.1m 0.34% Added +8.5k +8,489
93 SIMS INVESTMENT MANAGEMENT, LLC 3.54% of their portfolio CINCINNATI, OH 410,843410.8k $10.0m $10.0m 3.54% Added +4.9k +4,905
94 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 407,484407.5k $9.9m $9.9m 0.01% Added +33.5k +33,503
95 Triad Wealth Partners, LLC 0.94% of their portfolio LAWRENCE, KS 405,359405.4k $9.9m $9.9m 0.94% New
96 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 403,072403.1k $9.8m $9.8m 0.01% Added +16.1k +16,071
97 Phil A. Younker & Associates, Ltd. 6.83% of their portfolio FAIRBANKS, AK 402,053402.1k $9.8m $9.8m 6.83% Added +19.3k +19,272
98 BROWN WEALTH MANAGEMENT, LLC 2.47% of their portfolio NAPERVILLE, IL 385,162385.2k $9.4m $9.4m 2.47% Reduced -97.1k -97,054
99 Oakwell Private Wealth Management, LLC 1.69% of their portfolio Austin, TX 371,523371.5k $9.1m $9.1m 1.69% Added +35.2k +35,241
100 Milestone Investment Advisors LLC 2.16% of their portfolio MIDDLETON, WI 366,728366.7k $8.9m $8.9m 2.16% Added +10.0k +9,987