SCHD's Q2 Rebalance Is Complete
Updated June 24, 2026. HD takes the top spot. Continued defensive rotation with further trimming of TXN and QCOM.
What Is the SCHD Quarterly Rebalance?
SCHD rebalances quarterly on the third Friday of June, September, and December. The quarterly rebalance primarily redistributes weight across existing holdings to enforce the fund’s concentration limits. The latest update (June 24, 2026) shows continued trimming of Technology names and further increases in defensive high-quality dividend stocks.
New Top 10 Holdings — June 24, 2026
Ranked by weight after the most recent data update.
| # | Ticker | Company | % of Assets | Market Value |
|---|---|---|---|---|
| 1 | HD | Home Depot Inc | 4.42% | $4.2B |
| 2 | PG | Procter & Gamble | 4.37% | $4.2B |
| 3 | UNH | UnitedHealth Group Inc | 4.34% | $4.2B |
| 4 | MRK | Merck & Co Inc | 4.24% | $4.1B |
| 5 | AMGN | Amgen Inc | 4.19% | $4.0B |
| 6 | ABT | Abbott Laboratories | 4.19% | $4.0B |
| 7 | KO | Coca-Cola | 4.13% | $3.9B |
| 8 | PEP | Pepsico Inc | 4.02% | $3.8B |
| 9 | TXN | Texas Instruments Inc | 3.96% | $3.8B |
| 10 | VZ | Verizon Communications Inc | 3.95% | $3.8B |
Source: Schwab SCHD fund holdings as of 06/24/2026. Data subject to change.
Notable Weight Changes (Recent Update)
More Balanced & Defensive
- Top 10
- 41.81%
- Max Holding
- 4.42%
- TXN + QCOM
- 7.14%
Home Depot has taken the #1 position. Technology exposure continues to be trimmed while high-quality defensive names (Healthcare, Staples, Industrials) receive additional weight.
Sector Allocation (Approximate)
Defensive tilt strengthened after the rebalance.
Full Portfolio Holdings — June 24, 2026
All 105 holdings sorted by weight (descending).
| # | Ticker | Company | Shares | % Assets | Mkt Value |
|---|---|---|---|---|---|
| 1 | HD | Home Depot Inc | 12,317,528 | 4.42% | $4.2B |
| 2 | PG | Procter & Gamble | 27,498,973 | 4.37% | $4.2B |
| 3 | UNH | UnitedHealth Group Inc | 10,227,611 | 4.34% | $4.2B |
| 4 | MRK | Merck & Co Inc | 33,612,202 | 4.24% | $4.1B |
| 5 | AMGN | Amgen Inc | 11,398,212 | 4.19% | $4.0B |
| 6 | ABT | Abbott Laboratories | 44,235,607 | 4.19% | $4.0B |
| 7 | KO | Coca-Cola | 48,951,401 | 4.13% | $3.9B |
| 8 | PEP | Pepsico Inc | 27,045,266 | 4.02% | $3.8B |
| 9 | TXN | Texas Instruments Inc | 12,496,271 | 3.96% | $3.8B |
| 10 | VZ | Verizon Communications Inc | 82,640,770 | 3.95% | $3.8B |
| 11 | CVX | Chevron Corp | 20,322,923 | 3.64% | $3.5B |
| 12 | COP | ConocoPhillips | 30,944,032 | 3.46% | $3.3B |
| 13 | MO | Altria Group Inc | 42,413,050 | 3.20% | $3.1B |
| 14 | QCOM | Qualcomm Inc | 15,425,440 | 3.18% | $3.0B |
| 15 | BMY | Bristol Myers Squibb | 51,866,403 | 2.98% | $2.9B |
| 16 | LMT | Lockheed Martin Corp | 5,153,058 | 2.65% | $2.5B |
| 17 | ADP | Automatic Data Processing Inc | 10,151,762 | 2.33% | $2.2B |
| 18 | BX | Blackstone Inc | 18,867,366 | 2.23% | $2.1B |
| 19 | CMCSA | Comcast Corp Class A | 90,486,087 | 2.14% | $2.0B |
| 20 | ACN | Accenture PLC Class A | 15,592,560 | 2.11% | $2.0B |
| 21 | UPS | United Parcel Service Inc Class B | 18,961,827 | 2.10% | $2.0B |
| 22 | EOG | EOG Resources Inc | 13,528,361 | 1.90% | $1.8B |
| 23 | SLB | SLB NV | 37,973,074 | 1.85% | $1.8B |
| 24 | TGT | Target Corp | 11,535,151 | 1.70% | $1.6B |
| 25 | OKE | ONEOK Inc | 16,000,837 | 1.46% | $1.4B |
| 26 | F | Ford Motor | 99,409,287 | 1.44% | $1.4B |
| 27 | FAST | Fastenal | 29,157,752 | 1.41% | $1.3B |
| 28 | FITB | Fifth Third Bancorp | 23,017,458 | 1.32% | $1.3B |
| 29 | DVN | Devon Energy Corp | 29,283,621 | 1.31% | $1.3B |
| 30 | ADM | Archer Daniels Midland | 12,241,094 | 0.96% | $919.1M |
| 31 | KMB | Kimberly Clark Corp | 8,428,651 | 0.94% | $899.6M |
| 32 | PAYX | Paychex Inc | 8,187,808 | 0.82% | $788.5M |
| 33 | CINF | Cincinnati Financial Corp | 3,928,061 | 0.73% | $701.0M |
| 34 | HSY | Hershey Foods | 3,764,393 | 0.72% | $689.0M |
| 35 | RF | Regions Financial Corp | 21,674,579 | 0.67% | $639.2M |
| 36 | DRI | Darden Restaurants Inc | 2,908,506 | 0.65% | $620.8M |
| 37 | ARES | Ares Management Corp Class A | 5,356,247 | 0.64% | $609.9M |
| 38 | TROW | T Rowe Price Group Inc | 5,441,807 | 0.60% | $572.5M |
| 39 | PFG | Principal Financial Group Inc | 4,992,040 | 0.56% | $532.7M |
| 40 | SNA | Snap On Inc | 1,315,019 | 0.54% | $515.7M |
| 41 | GIS | General Mills Inc | 13,545,829 | 0.49% | $471.4M |
| 42 | EWBC | East West Bancorp Inc | 3,478,480 | 0.48% | $454.6M |
| 43 | BR | Broadridge Financial Solutions Inc | 2,936,053 | 0.43% | $411.3M |
| 44 | BBY | Best Buy Inc | 4,975,591 | 0.40% | $386.3M |
| 45 | WSO | Watsco Inc | 888,591 | 0.37% | $356.3M |
| 46 | APA | APA Corp | 8,977,433 | 0.31% | $299.2M |
| 47 | FNF | Fidelity National Financial Inc | 6,425,179 | 0.31% | $297.7M |
| 48 | SWKS | Skyworks Solutions Inc | 3,819,703 | 0.29% | $272.7M |
| 49 | DINO | HF Sinclair Corp | 3,891,548 | 0.27% | $255.9M |
| 50 | AFG | American Financial Group Inc | 1,750,834 | 0.25% | $242.0M |
| 51 | COLB | Columbia Banking System Inc | 7,352,449 | 0.24% | $231.8M |
| 52 | ORI | Old Republic International Corp | 5,687,790 | 0.24% | $229.2M |
| 53 | VYM | Vanguard High Dividend Yield Index | 1,350,000 | 0.22% | $213.3M |
| 54 | VIG | Vanguard Dividend Appreciation Ind | 910,000 | 0.22% | $213.2M |
| 55 | ALV | Autoliv Inc | 1,749,043 | 0.22% | $208.0M |
| 56 | BAH | Booz Allen Hamilton Holding Corp C | 3,061,915 | 0.20% | $191.9M |
| 57 | M | Macy's Inc | 6,697,358 | 0.18% | $169.7M |
| 58 | ERIE | Erie Indemnity Class A | 644,440 | 0.15% | $147.9M |
| 59 | MSM | MSC Industrial Inc Class A | 1,162,058 | 0.14% | $135.4M |
| 60 | OZK | Bank OZK | 2,606,141 | 0.14% | $132.8M |
| 61 | MTN | Vail Resorts Inc | 903,279 | 0.14% | $130.3M |
| 62 | MC | Moelis Class A | 1,886,795 | 0.13% | $122.9M |
| 63 | NXST | Nexstar Media Group Inc | 731,816 | 0.13% | $122.9M |
| 64 | MUR | Murphy Oil Corp | 3,421,392 | 0.13% | $120.4M |
| 65 | CWEN | Clearway Energy Inc Class C | 3,074,375 | 0.12% | $113.1M |
| 66 | FHI | Federated Hermes Inc Class B | 1,839,252 | 0.11% | $103.7M |
| 67 | CVBF | CVB Financial Corp | 4,256,859 | 0.10% | $93.9M |
| 68 | KFY | Korn Ferry | 1,313,736 | 0.10% | $92.8M |
| 69 | PAG | Penske Automotive Group Voting Inc | 467,389 | 0.09% | $85.7M |
| 70 | GVMXX | SSC Government MM | 81,701,091 | 0.09% | $81.7M |
| 71 | RHI | Robert Half Inc | 2,563,523 | 0.08% | $77.1M |
| 72 | APAM | Artisan Partners Asset Management | 1,803,018 | 0.07% | $62.8M |
| 73 | BANR | Banner Corp | 862,647 | 0.06% | $58.3M |
| 74 | MZTI | Marzetti | 515,241 | 0.06% | $58.0M |
| 75 | WU | Western Union | 7,917,388 | 0.06% | $57.3M |
| 76 | CNS | Cohen & Steers Inc | 704,844 | 0.06% | $52.9M |
| 77 | OFG | OFG Bancorp | 1,073,060 | 0.05% | $52.1M |
| 78 | NBHC | National Bank Holdings Corp Class | 1,137,401 | 0.05% | $50.7M |
| 79 | IPAR | Interparfums Inc | 463,464 | 0.05% | $48.3M |
| 80 | CHCO | City Holding | 358,159 | 0.05% | $47.0M |
| 81 | AGM | Federal Agricultural Mortgage Non | 236,416 | 0.05% | $45.5M |
| 82 | STBA | S And T Bancorp Inc | 913,704 | 0.05% | $44.4M |
| 83 | GABC | German American Bancorp Inc | 953,843 | 0.05% | $44.4M |
| 84 | FLO | Flowers Foods Inc | 5,408,909 | 0.04% | $41.4M |
| 85 | LKFN | Lakeland Financial Corp | 632,622 | 0.04% | $38.9M |
| 86 | SRCE | 1st Source Corp | 458,313 | 0.04% | $36.8M |
| 87 | NSP | Insperity Inc | 928,116 | 0.04% | $35.4M |
| 88 | BKE | Buckle Inc | 770,939 | 0.04% | $34.4M |
| 89 | WEN | Wendys | 4,053,547 | 0.03% | $31.9M |
| 90 | PFBC | Preferred Bank | 279,547 | 0.03% | $29.1M |
| 91 | CNA | CNA Financial Corp | 550,223 | 0.03% | $25.8M |
| 92 | CPF | Central Pacific Financial Corp | 672,768 | 0.03% | $25.0M |
| 93 | HAFC | Hanmi Financial Corp | 760,622 | 0.03% | $24.4M |
| 94 | USD | US Dollar | 23,509,072 | 0.02% | $23.5M |
| 95 | THFF | First Financial Corporation Corp | 300,266 | 0.02% | $22.9M |
| 96 | VRTS | Virtus Investment Partners Inc | 161,738 | 0.02% | $22.4M |
| 97 | ORRF | Orrstown Financial Services Inc | 498,921 | 0.02% | $20.3M |
| 98 | IBCP | Independent Bank Corp | 522,485 | 0.02% | $18.6M |
| 99 | CCBG | Capital City Bank Inc | 351,587 | 0.02% | $17.1M |
| 100 | AMSF | Amerisafe Inc | 483,130 | 0.02% | $15.7M |
Source: Schwab SCHD fund holdings as of 06/24/2026. Subject to change.
Key Takeaways for SCHD Investors
-
HD now #1 holding Home Depot leads the portfolio at 4.42%.
-
Tech continues to be trimmed TXN + QCOM now total only 7.14% of the fund.
-
Defensive tilt strengthened Healthcare and Consumer Staples remain the largest sector exposures.
-
Concentration remains low No single holding exceeds 4.42%. Top 10 = 41.81%.
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Holdings data on this page is sourced from Schwab's published SCHD fund holdings as of June 24, 2026, and is for informational purposes only. Numbers are subject to change. This page does not constitute financial or investment advice. Always verify current holdings through Charles Schwab's official materials. TopDividendETFs.com is not affiliated with Charles Schwab Corporation.