% of shares outstanding is not shown for SCHD: this is a fund line, and we hold no cover-page share count for it at any quarter — a fund's shares outstanding move with creations and redemptions rather than with issuance and buybacks, and it is not the SEC cover-page count this percentage is defined against. The figure is withheld rather than computed against a count that does not exist. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for SCHD in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | Rakuten Investment Management, Inc. | 83,184,06883.2M | $2.3B | — | ADD 100% |
| 2 | SUMITOMO LIFE INSURANCE CO | 45,450,00045.5M | $1.4B | — | ADD 46% |
| 3 | BANK OF AMERICA CORP /DE/ | 30,862,25430.9M | $947M | — | TRIM -34% |
| 4 | LPL Financial LLC | 30,861,60130.9M | $947M | — | TRIM -4% |
| 5 | MORGAN STANLEY | 26,336,11326.3M | $808M | — | — |
| 6 | Cetera Investment Advisers | 24,184,52324.2M | $742M | — | TRIM -30% |
| 7 | ENVESTNET ASSET MANAGEMENT INC | 17,312,07617.3M | $531M | — | ADD 7% |
| 8 | RAYMOND JAMES FINANCIAL INC | 17,180,08417.2M | $527M | — | ADD 11% |
| 9 | UBS Group AG | 14,633,77114.6M | $449M | — | ADD 3% |
| 10 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 13,734,71413.7M | $421M | — | TRIM -2% |
| 11 | Wealthspire Advisors, LLC | 13,311,44613.3M | $408M | — | — |
| 12 | Wealthfront Advisers LLC | 12,807,84212.8M | $393M | — | — |
| 13 | Cassaday & Co Wealth Management LLC | 9,569,0269.6M | $294M | — | ADD 4% |
| 14 | OSAIC HOLDINGS, INC. | 9,553,7289.6M | $293M | — | ADD 4% |
| 15 | COMMONWEALTH EQUITY SERVICES, LLC | 9,444,4729.4M | $290M | — | TRIM -6% |
| 16 | WELLS FARGO & COMPANY/MN | 9,298,7339.3M | $285M | — | TRIM -9% |
| 17 | ROYAL BANK OF CANADA | 8,655,9418.7M | $266M | — | ADD 8% |
| 18 | AMERIPRISE FINANCIAL INC | 7,892,8947.9M | $242M | — | TRIM -8% |
| 19 | Mariner, LLC | 7,606,3197.6M | $233M | — | ADD 10% |
| 20 | Keystone Financial Planning, Inc. | 6,763,7076.8M | $208M | — | ADD 12% |
| 21 | Cambridge Investment Research Advisors, Inc. | 6,543,3136.5M | $201M | — | ADD 3% |
| 22 | CIBC WORLD MARKET INC. | 6,157,7676.2M | $189M | — | TRIM -12% |
| 23 | Avantax Planning Partners, Inc. | 5,507,5575.5M | $169M | — | TRIM -46% |
| 24 | MML INVESTORS SERVICES, LLC | 5,368,5835.4M | $165M | — | TRIM -15% |
| 25 | HHM Wealth Advisors, LLC | 5,156,5065.2M | $158M | — | ADD 3% |
| 26 | HighTower Advisors, LLC | 5,134,6615.1M | $158M | — | TRIM -5% |
| 27 | WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | 4,979,7855.0M | $151M | — | TRIM -35% |
| 28 | Creative Planning | 4,398,0384.4M | $135M | — | ADD 2% |
| 29 | JPMORGAN CHASE & CO | 4,312,2754.3M | $131M | — | TRIM -19% |
| 30 | CWM, LLC | 4,054,4454.1M | $124M | — | TRIM -26% |
| 31 | KEYBANK NATIONAL ASSOCIATION/OH | 3,836,7913.8M | $118M | — | ADD 8% |
| 32 | JONES FINANCIAL COMPANIES LLLP | 3,854,9963.9M | $117M | — | ADD 22% |
| 33 | Kestra Advisory Services, LLC | 3,523,1273.5M | $108M | — | ADD 4% |
| 34 | TRUIST FINANCIAL CORP | 3,179,2953.2M | $98M | — | TRIM -18% |
| 35 | Berger Financial Group, Inc | 2,995,1093.0M | $92M | — | TRIM -5% |
| 36 | Cresset Asset Management, LLC | 2,810,1902.8M | $86M | — | ADD 7% |
| 37 | FIFTH THIRD BANCORP | 2,740,9182.7M | $84M | — | ADD 7% |
| 38 | Valmark Advisers, Inc. | 2,665,6612.7M | $82M | — | — |
| 39 | Asset Advisors Investment Management, LLC | 2,518,5632.5M | $77M | — | — |
| 40 | Cerity Partners LLC | 2,502,4032.5M | $77M | — | TRIM -54% |
| 41 | Bouchey Financial Group Ltd | 2,356,6642.4M | $73M | — | TRIM -7% |
| 42 | STIFEL FINANCIAL CORP | 2,305,4382.3M | $71M | — | ADD 3% |
| 43 | MAI Capital Management | 2,304,8552.3M | $71M | — | ADD 3% |
| 44 | MERCER GLOBAL ADVISORS INC /ADV | 2,297,1702.3M | $70M | — | ADD 28% |
| 45 | Golden Reserve Retirement LLC | 2,287,6542.3M | $70M | — | TRIM -5% |
| 46 | Charles Schwab Trust Bank | 2,064,7922.1M | $63M | — | TRIM -17% |
| 47 | Summit Asset Management, LLC | 2,060,4042.1M | $63M | — | — |
| 48 | Baird Financial Group, Inc. | 2,019,3522.0M | $62M | — | TRIM -5% |
| 49 | Focus Financial Network, Inc. | 1,983,1742.0M | $61M | — | TRIM -9% |
| 50 | D.A. DAVIDSON & CO. | 1,957,1562.0M | $60M | — | TRIM -12% |
| 51 | HOWARD FINANCIAL SERVICES, LTD. | 1,945,2921.9M | $60M | — | — |
| 52 | HARBOUR INVESTMENTS, INC. | 1,925,4731.9M | $59M | — | ADD 19% |
| 53 | Summit Financial Wealth Advisors, LLC | 1,921,7211.9M | $59M | — | TRIM -3% |
| 54 | CVA Family Office, LLC | 1,911,6101.9M | $59M | — | TRIM -4% |
| 55 | UNITED CAPITAL FINANCIAL ADVISORS, LLC | 1,912,0471.9M | $59M | — | ADD 3% |
| 56 | MCF Advisors LLC | 1,838,6471.8M | $56M | — | ADD 487% |
| 57 | Paradiem, LLC | 1,833,7071.8M | $56M | — | NEW |
| 58 | Allied Investment Advisors, LLC | 1,816,6251.8M | $56M | — | — |
| 59 | BOKF, NA | 1,810,6671.8M | $56M | — | ADD 3% |
| 60 | STEPHENS INC /AR/ | 1,807,7621.8M | $55M | — | ADD 6% |
| 61 | Whelan Financial | 1,775,4621.8M | $54M | — | — |
| 62 | Beacon Pointe Advisors, LLC | 1,761,4601.8M | $54M | — | ADD 14% |
| 63 | Waverly Advisors, LLC | 1,746,4181.7M | $54M | — | ADD 4% |
| 64 | Gerber Kawasaki Wealth & Investment Management | 1,729,7341.7M | $53M | — | TRIM -8% |
| 65 | BURKETT FINANCIAL SERVICES, LLC | 1,722,9591.7M | $53M | — | — |
| 66 | Scott Capital Advisors, LLC | 1,729,1691.7M | $53M | — | TRIM -2% |
| 67 | Spinnaker Investment Group, LLC | 1,715,4991.7M | $53M | — | TRIM -8% |
| 68 | CAPTRUST FINANCIAL ADVISORS | 1,668,9971.7M | $51M | — | ADD 3% |
| 69 | CHOREO, LLC | 1,660,5261.7M | $51M | — | ADD 20% |
| 70 | Sarver Vrooman Wealth Advisors | 1,654,0951.7M | $51M | — | — |
| 71 | HB Wealth Management, LLC | 1,643,1561.6M | $50M | — | ADD 4% |
| 72 | Northwest Quadrant Wealth Management, LLC | 1,642,8861.6M | $50M | — | — |
| 73 | Focus Partners Wealth | 1,641,8711.6M | $50M | — | ADD 5% |
| 74 | Mirae Asset Global Investments Co., Ltd. | 1,631,8441.6M | $50M | — | ADD 93% |
| 75 | CGC Financial Services, LLC | 1,616,2961.6M | $50M | — | — |
| 76 | Steward Partners Investment Advisory, LLC | 1,601,5721.6M | $49M | — | ADD 3% |
| 77 | Cullen/Frost Bankers, Inc. | 1,587,1281.6M | $49M | — | TRIM -14% |
| 78 | Leelyn Smith, LLC | 1,586,9581.6M | $49M | — | ADD 3% |
| 79 | SECURIAN ASSET MANAGEMENT, INC | 1,581,0001.6M | $49M | — | — |
| 80 | Evergreen Advisors, LLC | 1,551,0801.6M | $48M | — | ADD 2% |
| 81 | Merit Financial Group, LLC | 1,535,1041.5M | $47M | — | TRIM -2% |
| 82 | Keudell/Morrison Wealth Management | 1,530,6341.5M | $47M | — | TRIM -4% |
| 83 | VICTORY FINANCIAL GROUP, LLC | 1,526,9501.5M | $47M | — | TRIM -10% |
| 84 | Noble Family Wealth, LLC | 1,505,0551.5M | $46M | — | ADD 5% |
| 85 | Allworth Financial LP | 1,495,2971.5M | $46M | — | TRIM -45% |
| 86 | PINNACLE ASSOCIATES LTD | 1,469,6891.5M | $45M | — | — |
| 87 | Cedar Wealth Management, LLC | 1,437,7611.4M | $44M | — | — |
| 88 | Private Advisor Group, LLC | 1,430,7981.4M | $44M | — | TRIM -7% |
| 89 | Janney Montgomery Scott LLC | 1,406,7181.4M | $43M | — | ADD 7% |
| 90 | American Financial Advisors, LLC | 1,375,1541.4M | $42M | — | TRIM -3% |
| 91 | Curran Financial Partners, LLC | 1,371,2461.4M | $42M | — | ADD 6% |
| 92 | LVW Advisors, LLC | 1,348,2551.3M | $41M | — | TRIM -40% |
| 93 | Farther Finance Advisors, LLC | 1,343,7311.3M | $41M | — | ADD 30% |
| 94 | Aptus Capital Advisors, LLC | 1,319,7001.3M | $40M | — | TRIM -3% |
| 95 | ForthRight Wealth Management, LLC | 1,290,1431.3M | $40M | — | ADD 2% |
| 96 | Thrivent Financial for Lutherans | 1,265,8631.3M | $39M | — | TRIM -6% |
| 97 | Focus Partners Advisor Solutions, LLC | 1,234,5451.2M | $38M | — | TRIM -6% |
| 98 | CRA Financial Services, LLC | 1,188,4171.2M | $36M | — | — |
| 99 | First Command Advisory Services, Inc. | 1,179,5641.2M | $36M | — | — |
| 100 | VAUGHAN DAVID INVESTMENTS LLC/IL | 1,179,4861.2M | $36M | — | TRIM -3% |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| Rakuten Investment Management, Inc. | — | 33.0M | — | 41.6M | 41.6M | 83.2M | $2.3B |
| SUMITOMO LIFE INSURANCE CO | 26.8M | 18.6M | — | 31.1M | 31.1M | 45.5M | $1.4B |
| BANK OF AMERICA CORP /DE/ | 49.6M | 32.2M | 28.6M | 26.4M | 46.9M | 30.9M | $947M |
| LPL Financial LLC | 36.3M | 38.8M | 39.2M | 36.3M | 32.2M | 30.9M | $947M |
| MORGAN STANLEY | 28.5M | 29.4M | 28.2M | 27.2M | 25.9M | 26.3M | $808M |
| Cetera Investment Advisers | 6.1M | 6.8M | 7.1M | 35.0M | 34.6M | 24.2M | $742M |
| ENVESTNET ASSET MANAGEMENT INC | 19.6M | 18.1M | 19.2M | 18.0M | 16.2M | 17.3M | $531M |
| RAYMOND JAMES FINANCIAL INC | 21.7M | 21.2M | 17.5M | 16.4M | 15.5M | 17.2M | $527M |
| UBS Group AG | 16.0M | 15.5M | 15.7M | 14.5M | 14.1M | 14.6M | $449M |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 18.2M | 17.8M | 17.1M | 15.6M | 14.1M | 13.7M | $421M |
| Wealthspire Advisors, LLC | 15.1M | 29.6M | 29.0M | 28.3M | 13.5M | 13.3M | $408M |
| Wealthfront Advisers LLC | 14.3M | 13.9M | 13.5M | 13.2M | 12.9M | 12.8M | $393M |
| Cassaday & Co Wealth Management LLC | 5.8M | 5.9M | 5.9M | 6.1M | 9.2M | 9.6M | $294M |
| OSAIC HOLDINGS, INC. | 9.0M | 10.0M | 11.3M | 11.9M | 9.2M | 9.6M | $293M |
| COMMONWEALTH EQUITY SERVICES, LLC | 13.1M | 13.5M | 12.0M | 11.9M | 10.0M | 9.4M | $290M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| Rakuten Investment Management, Inc. | +41,592,034 | $1.3B | ADD |
| SUMITOMO LIFE INSURANCE CO | +14,400,000 | $442M | ADD |
| Paradiem, LLC | +1,833,707 | $56M | OPEN |
| RAYMOND JAMES FINANCIAL INC | +1,663,039 | $51M | ADD |
| MCF Advisors LLC | +1,525,348 | $47M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| BANK OF AMERICA CORP /DE/ | −16,082,890 | $493M | TRIM |
| Cetera Investment Advisers | −10,421,505 | $320M | TRIM |
| Avantax Planning Partners, Inc. | −4,598,666 | $141M | TRIM |
| Cerity Partners LLC | −2,930,338 | $90M | TRIM |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | −2,712,642 | $83M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 2,027 | 817,589,774 | — | $24.8B |
| 2025-Q4 | 1,926 | 801,630,826 | — | $22.0B |
| 2025-Q3 | 1,799 | 818,026,449 | — | $22.3B |
| 2025-Q2 | 1,797 | 801,776,929 | — | $21.3B |
| 2025-Q1 | 1,803 | 869,918,501 | — | $24.3B |
| 2024-Q4 | 1,799 | 834,716,746 | — | $22.9B |
| 2024-Q3 | 1,623 | 268,127,881 | — | $22.2B |
| 2024-Q2 | 1,551 | 266,767,415 | — | $20.5B |
| 2024-Q1 | 1,560 | 286,751,289 | — | $23.1B |
| 2023-Q4 | 1,520 | 280,508,640 | — | $21.4B |
| 2023-Q3 | 1,379 | 272,312,254 | — | $19.3B |
| 2023-Q2 | 1,376 | 258,160,105 | — | $18.8B |
| 2023-Q1 | 1,343 | 254,699,406 | — | $18.6B |
| 2022-Q4 | 1,321 | 246,423,028 | — | $18.5B |
| 2022-Q3 | 1,158 | 209,812,016 | — | $14.0B |
| 2022-Q2 | 1,180 | 190,004,223 | — | $13.6B |
| 2022-Q1 | 1,171 | 167,472,358 | — | $13.2B |
| 2021-Q4 | 1,109 | 146,655,105 | — | $11.8B |
| 2021-Q3 | 926 | 149,571,917 | — | $11.1B |
| 2021-Q2 | 909 | 134,808,200 | — | $10.2B |
| 2021-Q1 | 852 | 108,191,244 | — | $7.9B |
| 2020-Q4 | 776 | 92,440,147 | — | $5.8B |
| 2020-Q3 | 677 | 77,666,213 | — | $4.3B |
| 2020-Q2 | 647 | 71,606,242 | — | $3.7B |
| 2020-Q1 | 645 | 81,737,440 | — | $3.4B |
| 2019-Q4 | 666 | 68,355,662 | — | $4.0B |
| 2019-Q3 | 543 | 60,804,353 | — | $3.3B |
| 2019-Q2 | 521 | 57,221,471 | — | $3.0B |
| 2019-Q1 | 519 | 55,607,495 | — | $2.9B |
| 2018-Q4 | 481 | 48,150,123 | — | $2.3B |
| 2018-Q3 | 430 | 42,454,980 | — | $2.3B |
| 2018-Q2 | 416 | 40,864,883 | — | $2.0B |
| 2018-Q1 | 407 | 39,947,193 | — | $1.9B |
| 2017-Q4 | 393 | 38,184,761 | — | $2.0B |
| 2017-Q3 | 302 | 32,589,282 | — | $1.5B |
| 2017-Q2 | 289 | 29,769,873 | — | $1.3B |
| 2017-Q1 | 268 | 28,718,848 | — | $1.3B |
| 2016-Q4 | 263 | 28,000,616 | — | $1.2B |
| 2016-Q3 | 238 | 27,809,878 | — | $1.2B |
| 2016-Q2 | 222 | 20,156,089 | — | $831M |
| 2016-Q1 | 194 | 15,931,380 | — | $639M |
| 2015-Q4 | 185 | 22,371,426 | — | $863M |
| 2015-Q3 | 157 | 12,795,154 | — | $461M |
| 2015-Q2 | 149 | 13,288,982 | — | $509M |
| 2015-Q1 | 153 | 19,660,946 | — | $774M |
| 2014-Q4 | 143 | 16,325,214 | — | $650M |
| 2014-Q3 | 109 | 9,694,160 | — | $371M |
| 2014-Q2 | 107 | 8,795,506 | — | $334M |
| 2014-Q1 | 99 | 7,374,396 | — | $272M |
| 2013-Q4 | 88 | 6,871,212 | — | $252M |
| 2013-Q3 | 61 | 5,424,478 | — | $183M |
| 2013-Q2 | 53 | 5,325,479 | — | $174M |
