SCHWAB US DVD EQUITY ETF

SCHD Q1 2026 institutional ownership is a $24.2B book across 1,984 holders. Rakuten Investment Management is the largest holder at $2.25B (83.2M shares, +100%, + $1.13B) -- the dominant buyer, doubling its position. Sumitomo Life Insurance added $543M (46.5M shares, +74%). Bank of America reduced $341M (31.0M shares, -42%). Cetera Investment Advisers reduced $207M (24.2M shares, -37%). LPL Financial reduced $65M (31.0M shares, -2%). Envestnet added $86M. Raymond James added $101M. Morgan Stanley added $99M. UBS Group added $61M. Wells Fargo reduced $5M (9.3M shares, -9%). Wealth Enhancement reduced $65M (5.0M shares, -27%). Avantax reduced $108M (5.5M shares, -52%). Northwestern Mutual reduced $36M (13.7M shares, -3%). Wealthfront reduced $39M (12.8M shares, -3%). Cassaday & Co added $40M. OSAIC added $41M. Commonwealth Equity reduced $15M. Stifel not listed. JPMorgan reduced $14M. RBC added $46M. Mariner added $44M. Keystone Financial added $42M. Ameriprise reduced $6M. CWM reduced $124M (topBuyers #3 by NET). New positions: none. The 75.50 whaleScore reflects AUM. Smart-money read: net-bullish dividend/quality factor. Rakuten+$1.13B and Sumitomo+$543M are the defining signals -- two Japan-based insurers simultaneously doubling/increasing SCHD exposure suggests a global dividend-yield rotation, likely driven by (a) JPY depreciation making US dividend streams more valuable or (b) BOJ policy shifts causing JGB repricing and forcing insurers into global dividend equities. BofA-$341M and Cetera-$207M are the only material US-active reductions. Net read: bullish on US dividend/quality factor via SCHD -- the Rakuten/Sumitomo pair is one of the most concentrated international signals in this dataset, suggesting a structural allocator move rather than tactical trading.