Who owns SCHD (SCHD)
Which tracked institutional funds hold SCHD, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SCHD company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on SCHD is one-sided between 2025-Q4 and 2026-Q1: 784 added or opened and 192 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SCHD’s largest tracked holder by dollar value, Rakuten Investment Management, Inc., sizes it at 4.6% of its own reported 13F book, while the median holder sizes it at 0.7% of theirs — a 3.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SCHD divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 2030 tracked filers holding SCHD, 1090 increased or opened the position and 876 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SCHD between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 71
- Paradiem, LLC$56M
- Baer Investment Advisory LLC$47M
- Mendel Capital Management LLC$15M
- Gilbert Capital Group, Inc.$13M
- Mayfair Advisory Group, LLC$10M
- CIBC Bancorp USA Inc.$8M
Full exits 57
- Main Street Financial Solutions, LLC$46M
- ARGENT CAPITAL MANAGEMENT LLC$30M
- McCarthy Asset Management, Inc.$22M
- Integrated Investment Consultants, LLC$16M
- Global Retirement Partners, LLC$15M
- Blue Barn Wealth, LLC$8M
Largest adds
- Rakuten Investment Management, Inc.$1.1B
- SUMITOMO LIFE INSURANCE CO$543M
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$420M
- RAYMOND JAMES FINANCIAL INC$101M
- MORGAN STANLEY$99M
- ENVESTNET ASSET MANAGEMENT INC$86M
Largest trims
- BANK OF AMERICA CORP /DE/$341M
- Cetera Investment Advisers$207M
- Avantax Planning Partners, Inc.$108M
- Cerity Partners LLC$72M
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$65M
- Allworth Financial LP$29M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Rakuten Investment Management, Inc. added | 83,184,068 | $2.3B | 12.3% | 2026-Q1 |
| SUMITOMO LIFE INSURANCE CO added | 45,450,000 | $1.4B | 7.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 30,862,254 | $947M | 5.2% | 2026-Q1 |
| LPL Financial LLC trimmed | 30,861,601 | $947M | 5.2% | 2026-Q1 |
| MORGAN STANLEY added | 26,336,113 | $808M | 4.4% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 24,184,523 | $742M | 4.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 17,312,076 | $531M | 2.9% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 17,180,084 | $527M | 2.9% | 2026-Q1 |
| UBS Group AG added | 14,633,771 | $449M | 2.5% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 13,734,714 | $421M | 2.3% | 2026-Q1 |
| Wealthspire Advisors, LLC trimmed | 13,311,446 | $408M | 2.2% | 2026-Q1 |
| Wealthfront Advisers LLC trimmed | 12,807,842 | $393M | 2.1% | 2026-Q1 |
| Cassaday & Co Wealth Management LLC added | 9,569,026 | $294M | 1.6% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 9,553,728 | $293M | 1.6% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 9,444,472 | $290M | 1.6% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 9,298,733 | $285M | 1.6% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 8,655,941 | $266M | 1.5% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 7,892,894 | $242M | 1.3% | 2026-Q1 |
| Mariner, LLC added | 7,606,319 | $233M | 1.3% | 2026-Q1 |
| Keystone Financial Planning, Inc. added | 6,763,707 | $208M | 1.1% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. added | 6,543,313 | $201M | 1.1% | 2026-Q1 |
| CIBC WORLD MARKET INC. trimmed | 6,157,767 | $189M | 1.0% | 2026-Q1 |
| Avantax Planning Partners, Inc. trimmed | 5,507,557 | $169M | 0.9% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC trimmed | 5,368,583 | $165M | 0.9% | 2026-Q1 |
| HHM Wealth Advisors, LLC added | 5,156,506 | $158M | 0.9% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 5,134,661 | $158M | 0.9% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 4,979,785 | $151M | 0.8% | 2026-Q1 |
| Creative Planning added | 4,398,038 | $135M | 0.7% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 4,312,275 | $131M | 0.7% | 2026-Q1 |
| CWM, LLC trimmed | 4,054,445 | $124M | 0.7% | 2026-Q1 |
| KEYBANK NATIONAL ASSOCIATION/OH added | 3,836,791 | $118M | 0.6% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 3,854,996 | $117M | 0.6% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 3,523,127 | $108M | 0.6% | 2026-Q1 |
| TRUIST FINANCIAL CORP trimmed | 3,179,295 | $98M | 0.5% | 2026-Q1 |
| Berger Financial Group, Inc trimmed | 2,995,109 | $92M | 0.5% | 2026-Q1 |
| Cresset Asset Management, LLC added | 2,810,190 | $86M | 0.5% | 2026-Q1 |
| FIFTH THIRD BANCORP added | 2,740,918 | $84M | 0.5% | 2026-Q1 |
| Valmark Advisers, Inc. added | 2,665,661 | $82M | 0.4% | 2026-Q1 |
| Asset Advisors Investment Management, LLC trimmed | 2,518,563 | $77M | 0.4% | 2026-Q1 |
| Cerity Partners LLC trimmed | 2,502,403 | $77M | 0.4% | 2026-Q1 |
| Bouchey Financial Group Ltd trimmed | 2,356,664 | $73M | 0.4% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 2,305,438 | $71M | 0.4% | 2026-Q1 |
| MAI Capital Management added | 2,304,855 | $71M | 0.4% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV added | 2,297,170 | $70M | 0.4% | 2026-Q1 |
| Golden Reserve Retirement LLC trimmed | 2,287,654 | $70M | 0.4% | 2026-Q1 |
| Charles Schwab Trust Bank trimmed | 2,064,792 | $63M | 0.3% | 2026-Q1 |
| Summit Asset Management, LLC added | 2,060,404 | $63M | 0.3% | 2026-Q1 |
| Baird Financial Group, Inc. trimmed | 2,019,352 | $62M | 0.3% | 2026-Q1 |
| Focus Financial Network, Inc. trimmed | 1,983,174 | $61M | 0.3% | 2026-Q1 |
| D.A. DAVIDSON & CO. trimmed | 1,957,156 | $60M | 0.3% | 2026-Q1 |
| HOWARD FINANCIAL SERVICES, LTD. trimmed | 1,945,292 | $60M | 0.3% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. added | 1,925,473 | $59M | 0.3% | 2026-Q1 |
| Summit Financial Wealth Advisors, LLC trimmed | 1,921,721 | $59M | 0.3% | 2026-Q1 |
| CVA Family Office, LLC trimmed | 1,911,610 | $59M | 0.3% | 2026-Q1 |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC added | 1,912,047 | $59M | 0.3% | 2026-Q1 |
| MCF Advisors LLC added | 1,838,647 | $56M | 0.3% | 2026-Q1 |
| Paradiem, LLC new | 1,833,707 | $56M | 0.3% | 2026-Q1 |
| Allied Investment Advisors, LLC added | 1,816,625 | $56M | 0.3% | 2026-Q1 |
| BOKF, NA added | 1,810,667 | $56M | 0.3% | 2026-Q1 |
| STEPHENS INC /AR/ added | 1,807,762 | $55M | 0.3% | 2026-Q1 |
| Whelan Financial trimmed | 1,775,462 | $54M | 0.3% | 2026-Q1 |
| Beacon Pointe Advisors, LLC added | 1,761,460 | $54M | 0.3% | 2026-Q1 |
| Waverly Advisors, LLC added | 1,746,418 | $54M | 0.3% | 2026-Q1 |
| Gerber Kawasaki Wealth & Investment Management trimmed | 1,729,734 | $53M | 0.3% | 2026-Q1 |
| BURKETT FINANCIAL SERVICES, LLC trimmed | 1,722,959 | $53M | 0.3% | 2026-Q1 |
| Scott Capital Advisors, LLC trimmed | 1,729,169 | $53M | 0.3% | 2026-Q1 |
| Spinnaker Investment Group, LLC trimmed | 1,715,499 | $53M | 0.3% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS added | 1,668,997 | $51M | 0.3% | 2026-Q1 |
| CHOREO, LLC added | 1,660,526 | $51M | 0.3% | 2026-Q1 |
| Sarver Vrooman Wealth Advisors trimmed | 1,654,095 | $51M | 0.3% | 2026-Q1 |
| HB Wealth Management, LLC added | 1,643,156 | $50M | 0.3% | 2026-Q1 |
| Northwest Quadrant Wealth Management, LLC added | 1,642,886 | $50M | 0.3% | 2026-Q1 |
| Focus Partners Wealth added | 1,641,871 | $50M | 0.3% | 2026-Q1 |
| Mirae Asset Global Investments Co., Ltd. added | 1,631,844 | $50M | 0.3% | 2026-Q1 |
| CGC Financial Services, LLC trimmed | 1,616,296 | $50M | 0.3% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC added | 1,601,572 | $49M | 0.3% | 2026-Q1 |
| Cullen/Frost Bankers, Inc. trimmed | 1,587,128 | $49M | 0.3% | 2026-Q1 |
| Leelyn Smith, LLC added | 1,586,958 | $49M | 0.3% | 2026-Q1 |
| SECURIAN ASSET MANAGEMENT, INC | 1,581,000 | $49M | 0.3% | 2026-Q1 |
| Evergreen Advisors, LLC added | 1,551,080 | $48M | 0.3% | 2026-Q1 |
| Merit Financial Group, LLC trimmed | 1,535,104 | $47M | 0.3% | 2026-Q1 |
| Keudell/Morrison Wealth Management trimmed | 1,530,634 | $47M | 0.3% | 2026-Q1 |
| VICTORY FINANCIAL GROUP, LLC trimmed | 1,526,950 | $47M | 0.3% | 2026-Q1 |
| Baer Investment Advisory LLC new | 1,526,950 | $47M | 0.3% | 2026-Q1 |
| Noble Family Wealth, LLC added | 1,505,055 | $46M | 0.3% | 2026-Q1 |
| Allworth Financial LP trimmed | 1,495,297 | $46M | 0.3% | 2026-Q1 |
| PINNACLE ASSOCIATES LTD added | 1,469,689 | $45M | 0.2% | 2026-Q1 |
| Cedar Wealth Management, LLC trimmed | 1,437,761 | $44M | 0.2% | 2026-Q1 |
| Private Advisor Group, LLC trimmed | 1,430,798 | $44M | 0.2% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 1,406,718 | $43M | 0.2% | 2026-Q1 |
| American Financial Advisors, LLC trimmed | 1,375,154 | $42M | 0.2% | 2026-Q1 |
| Curran Financial Partners, LLC added | 1,371,246 | $42M | 0.2% | 2026-Q1 |
| LVW Advisors, LLC trimmed | 1,348,255 | $41M | 0.2% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 1,343,731 | $41M | 0.2% | 2026-Q1 |
| Aptus Capital Advisors, LLC trimmed | 1,319,700 | $40M | 0.2% | 2026-Q1 |
| ForthRight Wealth Management, LLC added | 1,290,143 | $40M | 0.2% | 2026-Q1 |
| AVANTAX ADVISORY SERVICES, INC. added | 28,436,927 | $754M | 4.1% | 2025-Q2 stale |
| Main Street Financial Solutions, LLC trimmed | 1,689,595 | $46M | 0.3% | 2025-Q4 stale |
| Reliant Wealth Planning added | 1,664,663 | $45M | 0.2% | 2025-Q3 stale |
| Apexium Financial, LP added | 1,520,165 | $42M | 0.2% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.