Schwab US Dividend Equity

SCHD • ARCA

Schwab US Dividend Equity is an exchange-traded fund on ARCA. As of Q3 2025, 1,755 institutional investors hold shares in this ETF, with total holdings valued at $22.1B. Rakuten Investment Management, Inc. is the largest holder with a position valued at $1.1B.

Overview

Overview of institutional ownership in SCHD as of Q3 2025

All Institutions

Institutions: 1,755
Value Held: $22.1B
Shares Held: 809.5M
Avg Position: $12.6M
Median Position: $1.4M

Hedge Funds

Hedge Funds: 22
Value Held: $73.0M
Shares Held: 2.7M
Avg Position: $3.3M
Median Position: $1.9M

Biggest Investors

Institutions with the largest positions in SCHD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
R Rakuten Investment Management, Inc. Institution	-	$1.1B 4.01% of portfolio	41.6M shares	Q3 2025 Held for 2 months	$28.1B
L LPL Financial LLC Institution	-	$990.8M 0.29% of portfolio	36.3M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$955.9M 1.12% of portfolio	35.0M shares	Q4 2020 Held for 4y 11m	$85.4B
S SUMITOMO LIFE INSURANCE CO Institution	-	$847.7M 26.32% of portfolio	31.1M shares	Q4 2023 Held for 1y 11m	$3.2B
Sontag Advisory, LLC RIA/Wealth	Michael Anthony Lamena CEO	$772.1M 4.04% of portfolio	28.3M shares	Q3 2019 Held for 6y 2m	$19.1B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$743.3M 0.05% of portfolio	27.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$719.4M 0.05% of portfolio	26.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$492.1M 0.14% of portfolio	18.0M shares	Q4 2013 Held for 11y 11m	$341.99B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$448.3M 0.14% of portfolio	16.4M shares	Q4 2024 Held for 11 months	$310.43B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$424.6M 0.28% of portfolio	15.6M shares	Q3 2015 Held for 10y 2m	$149.83B

Net Capital Flow

Institutional buying and selling activity for SCHD in Q3 2025

Net Flow: −$810.8M
Buyers: 769
Sellers: 801
Total Bought: +$2.2B
Total Sold: −$3.0B
Avg Position: $12.0M

Biggest Buyers

Institution	Net Bought	Current Position
S SUMITOMO LIFE INSURANCE CO Institution	+$847.7M +31.1M shares	$847.7M 31.1M shares
Cetera Investment Advisers RIA/Wealth	+$762.0M +27.9M shares	$955.9M 35.0M shares
C CIBC World Markets Inc. Institution	+$103.1M +3.8M shares	$145.5M 5.3M shares
Lido Advisors, LLC RIA/Wealth	+$32.3M +1.2M shares	$32.3M 1.2M shares
HPM Partners LLC RIA/Wealth	+$27.4M +1.0M shares	$180.2M 6.6M shares
Kestra Advisory Services, LLC RIA/Wealth	+$21.0M +770.2K shares	$94.1M 3.4M shares
PFG Advisors RIA/Wealth	+$20.7M +756.6K shares	$20.7M 756.6K shares
A Advisor Group Holdings, Inc. Institution	+$16.4M +593.3K shares	$327.1M 11.9M shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	+$13.2M +484.5K shares	$24.8M 906.8K shares
J JANE STREET GROUP, LLC Institution	+$12.4M +454.7K shares	$13.1M 480.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$1.0B −38.9M shares	Sold Off 0 shares
AMERIPRISE FINANCIAL INC Institution	−$149.9M −5.5M shares	$253.8M 9.3M shares
Diversified Enterprises, LLC RIA/Wealth	−$115.3M −4.2M shares	$9.2M 338.0K shares
A Accredited Wealth Management, LLC RIA/Wealth	−$101.0M −243.8K shares	$7.7M 18.6K shares
L LPL Financial LLC Institution	−$79.8M −2.9M shares	$990.8M 36.3M shares
TrueNorth, Inc. RIA/Wealth	−$62.4M −2.3M shares	$17.0M 624.4K shares
Cresset Asset Management, LLC RIA/Wealth	−$61.9M −2.3M shares	$133.2M 4.9M shares
BANK OF AMERICA CORP /DE/ Institution	−$60.3M −2.2M shares	$719.4M 26.4M shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	−$43.0M −1.6M shares	$424.6M 15.6M shares
C Charles Schwab Trust Bank Institution	−$42.7M −1.6M shares	$55.1M 2.0M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SCHD in Q3 2025

New Positions: 64
New Value: $48.2M
Exited Positions: 84
Exited Value: $1.2B

New Positions

Institution	Position Value
R RETIREMENT FINANCIAL SOLUTIONS, LLC RIA/Wealth	$8.6M 316.8K shares
Uniting Wealth Partners, LLC RIA/Wealth	$5.8M 213.9K shares
C Cubist Systematic Strategies, LLC Institution	$4.6M 170.3K shares
E Equity Wealth Partners, LLC RIA/Wealth	$4.6M 170.0K shares
Portus Wealth Advisors, LLC RIA/Wealth	$3.4M 122.8K shares
Fiscal Wisdom Wealth Management, LLC RIA/Wealth	$2.3M 86.3K shares
MFG WEALTH MANAGEMENT, INC. RIA/Wealth	$2.0M 72.8K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$1.4M 52.5K shares
CPA Asset Management LLC RIA/Wealth	$948.3K 34.7K shares
Tandem Financial, LLC RIA/Wealth	$912.8K 33.4K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$1.0B 38.9M shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$22.1M 835.0K shares
FAYEZ SAROFIM & CO Long Only Manager	$21.7M 820.0K shares
Towneley Capital Management, Inc / DE RIA/Wealth	$17.9M 676.7K shares
Tradewinds, LLC. RIA/Wealth	$9.3M 352.3K shares
L Lion Street Advisors, LLC RIA/Wealth	$7.1M 267.8K shares
Custos Family Office, LLC Family Office	$7.0M 265.6K shares
SRS Capital Advisors, Inc. RIA/Wealth	$5.3M 198.1K shares
C CLARK FINANCIAL SERVICES GROUP INC /BD RIA/Wealth	$3.5M 131.7K shares
WINNOW WEALTH LLC RIA/Wealth	$2.9M 108.1K shares

Options Activity

Institutions with the largest Call and Put options positions in SCHD as of Q3 2025

Call Positions: 11
Call Value: $134.1M
Put Positions: 8
Put Value: $69.9M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$43.5M 15.9K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$30.5M 11.2K contracts
W WOLVERINE TRADING, LLC Institution	$18.8M 6.9K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$14.7M 5.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$8.6M 3.2K contracts
C Cubist Systematic Strategies, LLC Institution	$7.5M 2.8K contracts
J JANE STREET GROUP, LLC Institution	$7.1M 2.6K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$3.4M 1.3K contracts
Destination Wealth Management RIA/Wealth	$2.1K 20.0 contracts
Wealth Watch Advisors, INC RIA/Wealth	$35.0 30.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$33.0M 12.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$13.1M 4.8K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$7.9M 2.9K contracts
C Cubist Systematic Strategies, LLC Institution	$6.7M 2.5K contracts
W WOLVERINE TRADING, LLC Institution	$4.1M 1.5K contracts
J JANE STREET GROUP, LLC Institution	$2.8M 1.0K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$2.2M 811.0 contracts
C CIBC World Markets Inc. Institution	- - contracts

Most Committed Institutions

Institutions with SCHD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
C Charles Schwab Trust Bank Institution	-	100.00% $55.1M	2.0M shares	Q1 2024 Held for 1y 8m	$55.1M
K Keystone Financial Planning, Inc. RIA/Wealth	James Barber Twining CEO	48.80% $167.9M	6.2M shares	Q4 2013 Held for 11y 11m	$344.1M
Sarver Vrooman Wealth Advisors RIA/Wealth	Peter Vrooman Managing Partner	28.85% $44.9M	1.6M shares	Q1 2025 Held for 8 months	$155.6M
S SUMITOMO LIFE INSURANCE CO Institution	-	26.32% $847.7M	31.1M shares	Q4 2023 Held for 1y 11m	$3.2B
PLANNING DIRECTIONS INC RIA/Wealth	William Francis Muller CEO	19.40% $37.2M	1.4M shares	Q1 2018 Held for 7y 8m	$191.6M
BURKETT FINANCIAL SERVICES, LLC RIA/Wealth	Phillip Kevin Smiley CCO	16.95% $45.6M	1.7M shares	Q4 2023 Held for 1y 11m	$268.7M
MJT & Associates Financial Advisory Group, Inc. RIA/Wealth	Paul George Anthes President	16.84% $20.7M	758.4K shares	Q1 2025 Held for 8 months	$122.9M
HHM Wealth Advisors, LLC RIA/Wealth	Travis A Hutchinson Managing Partner	16.14% $138.9M	5.1M shares	Q4 2018 Held for 6y 11m	$860.7M
Reliant Wealth Planning RIA/Wealth	Todd Allan Steinbrink President	16.04% $45.4M	1.7M shares	Q2 2022 Held for 3y 5m	$283.3M
eCIO, Inc. RIA/Wealth	Robin Chorone Roquitte CEO	15.63% $26.7M	979.8K shares	Q1 2025 Held for 8 months	$171.2M

Hedge Fund Spotlight

Discover hedge funds investing in SCHD

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Schwab US Dividend Equity

Market Value: $12.7M
Shares Held: 465.0K
Portfolio Weight: 0.01%
Owned Since: 2020-Q3

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%