Signal dossier · Q4 2025

SCHW

Charles Schwab · Financials

HoldLens verdict · single −100..+100 scale

BUY

+26

4Q BUY

on a signed +100 buy scale · WEAK BUY

2 tracked managers buying with 1 on a 4+ quarter streak. MODERATE signal.

Unified ConvictionScore · −100..+100

Smart money + insider + track record + trend + concentration + contrarian − dissent − crowding

+26

Buy component

+33

Dissent penalty

−7

Unanimity bonus

+10

Quality differential

Info density

+11

Buyers / Sellers

2 / 2

ConvictionScore v5 · 9-layer breakdown

13F superinvestor moves + Form 4 insider trades + 8-K material events. The SEC Signals trilogy.

+26

Smart money (13F)

+11

Insider activity (Form 4)

Track record (CAGR)

-1

Trend streak

+10

Concentration

+10

Contrarian bonus

Event signal (8-K)

− Dissent penalty

−7

− Crowding penalty

−0

Owners: 2·Buyers: 15·Sellers: 8·Buyer-CAGR-weighted expected return: +12.3% ±1.7%·How this is computed

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8-quarter activity

Distinct managers buying or selling SCHW each quarter — last 2 years.

5 buy moves·0 sell moves·net buying

'24 Q1

'24 Q2

'24 Q3

'24 Q4

'25 Q1

'25 Q2

'25 Q3

'25 Q4

Buyers (new + add)Sellers (trim + exit)

Ownership breadth · 8 quarters

Breadth flat

+0 owners over 8Q

Q1 '24

Q2 '24

Q3 '24

Q4 '24

Q1 '25

Q2 '25

Q3 '25

Q4 '25

The number of superinvestors holding this name has been stable for 8 quarters. See the most-owned names across all tracked managers →

Multi-quarter conviction

Managers who have been moving the same direction on SCHW for 2+ consecutive quarters. Streaks matter far more than single-quarter moves — they reveal thesis conviction, not reactive trading.

Consecutive-quarter BUYERS

Glenn Greenberg
Brave Warrior Advisors
4Q

Smart money activity

Every tracked 13F move on SCHW — grouped by quarter, ranked by manager quality.

Smart money activity

15 buys · 8 sells across tracked 13F filings

Net signal: STRONG BUY

Q4 2025(4 moves)

Portfolio manager	Activity	Share change	% portfolio
John ArmitageTier 1 Egerton Capital New Schwab position.	Buy (new)	+1.40M	4.70%
Glenn Greenberg Brave Warrior Advisors Concentrating further on top conviction.	Add 10.00%	+950K	19.60%
Andreas HalvorsenElite Viking Global Investors	Reduce 16.00%	-2.71M	3.70%
Joel GreenblattElite Gotham Asset Management	Reduce 25.00%	-758K	0.10%

Q3 2025(3 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management	Add 21.00%	+534K	0.20%
Glenn Greenberg Brave Warrior Advisors Top conviction add.	Add 8.00%	+700K	17.80%
Bill Nygren Oakmark Funds	Reduce 8.00%	-1.73M	3.30%

Q2 2025(5 moves)

Portfolio manager	Activity	Share change	% portfolio
François RochonTier 1 Giverny Capital	Add 65.00%	+618K	4.90%
Joel GreenblattElite Gotham Asset Management	Add 8.00%	+192K	0.20%
Glenn Greenberg Brave Warrior Advisors Starting the big Schwab build.	Add 6.00%	+540K	16.90%
Andreas HalvorsenElite Viking Global Investors	Reduce 11.00%	-1.94M	4.20%
Bill Nygren Oakmark Funds	Reduce 17.00%	-4.64M	3.40%

Q1 2025(3 moves)

Portfolio manager	Activity	Share change	% portfolio
Andreas HalvorsenElite Viking Global Investors	Add 21.00%	+3.06M	4.40%
Joel GreenblattElite Gotham Asset Management	Add 694%	+2.06M	0.20%
Glenn Greenberg Brave Warrior Advisors Pre-building Schwab.	Add 4.00%	+340K	16.30%

Q4 2024(2 moves)

Portfolio manager	Activity	Share change	% portfolio
Andreas HalvorsenElite Viking Global Investors	Add 526%	+12.32M	3.50%
Joel GreenblattElite Gotham Asset Management	Add 231%	+207K	0.00%

Q3 2024(4 moves)

Portfolio manager	Activity	Share change	% portfolio
François RochonTier 1 Giverny Capital	Add 8.00%	+66K	2.30%
Andreas HalvorsenElite Viking Global Investors	Buy (new)	+2.34M	0.60%
Bill Nygren Oakmark Funds	Add 23.00%	+5.30M	2.40%
Joel GreenblattElite Gotham Asset Management	Reduce 42.00%	-66K	0.00%

Q2 2024(2 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management	Reduce 39.00%	-101K	0.00%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Sell (exit)	-9K	0.00%

Insider activity

What the company's own executives and directors are doing — buys are highly bullish.

Insider activity (Form 4)

1 buy · 0 sells from corporate insiders

Net: INSIDER BUYING

Insider	Action	Shares	Value	Date
Walt Bettinger Co-Chairman First buy in 2 years — bullish.	buy	30,000	$2.16M	Nov 22, 2025

Latest news

Recent headlines for SCHW — context for the moves above.

Who’s betting biggest on SCHW

Financials sector →→ Ranks #6 of 83 tracked bets

Each bar is one manager’s position size in SCHW as a % of their portfolio. Longer bar = bigger conviction bet. T1 badge marks the highest-quality track records.

Glenn Greenberg

17.8%

“Top conviction. Fee compression priced in.”

John ArmitageT1

4.7%

“Discount broker franchise.”

AI thesis

An AI-synthesised investment thesis for SCHW, based on the 13F data above. Generated on demand — not stored or pre-computed.

AI thesis

Claude Haiku synthesis of BUY positioning from 2 institutional filers

Generate a 2-paragraph investment thesis synthesising 2 institutional holdings and the +26 conviction score.

Related smart-money signals

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The HoldLens signal dossier shows the unified −100..+100 ConvictionScore alongside live prices, multi-quarter trend detection, insider activity, and real-time news. Not investment advice. Methodology.