The Charles Schwab Corporation is a public company owned by its shareholders, and its largest disclosed holder is still the man it is named after. Charles R. Schwab beneficially owned 103,039,913 shares, 5.9% of the common stock, as of March 3, 2026, according to Schwab's 2026 proxy statement. BlackRock was the only other holder listed above 5%, at 5.6%.
Schwab's common stock trades on the New York Stock Exchange under the symbol SCHW, per its 2025 Form 10-K. Toronto-Dominion Bank, which received a large Schwab stake when Schwab bought TD Ameritrade, sold all of it in February 2025, per the same 10-K. Every figure below comes from those SEC filings and is dated to the filing.
Who owns Charles Schwab?
Schwab is owned by public shareholders, and no one controls it. The largest single individual holder is the company's namesake, who still sits on the board. One large asset manager also clears the reporting line. Directors and executives as a group hold a single-digit percentage, mostly through the namesake's stake.
The table reproduces the 5% holder rows and selected insider rows from the 2026 proxy statement, with holdings as of the close of business on March 3, 2026.
Holder | Total beneficial ownership | Percent of outstanding shares |
103,039,913 | 5.9% | |
96,697,577 | 5.6% | |
2,767,885 | Less than 1% | |
1,706,738 | Less than 1% | |
696,803 | Less than 1% | |
110,047,278 | 6.3% |
The BlackRock row relies on a Schedule 13G/A filed January 31, 2024, according to footnote 5 of the proxy, which reports sole voting power over 85,960,974 shares and sole dispositive power over 96,697,577. Those shares are held for BlackRock's fund investors.
How much of Schwab does Charles Schwab own?
Charles R. Schwab owns a little under six percent of the company, held mostly through family trusts and partnerships rather than in his own name. He no longer runs the business day to day. His influence today comes from that stake and his seat as one of two co-chairmen of the board.
Footnote 4 of the 2026 proxy breaks down his position: 55,746,284 shares held by trusts for which he serves as trustee, 9,509,797 by trusts for which his spouse serves as trustee, 30,483,368 by family limited partnerships, and 6,411,826 shares held by nonprofit corporations he established, for which he disclaims beneficial ownership. The proxy lists his daughter, Carolyn Schwab-Pomerantz, as a director.
The same proxy says Mr. Schwab was a founder of Charles Schwab & Co., Inc. in 1971, has served as a director since the company's incorporation in 1986, was chairman from 1986 to 2022 and has been co-chairman since 2022. It also says he served as CEO from 1986 to 1997 and from 2004 until 2008.
Who runs Schwab today?
Schwab separates its board leadership from day-to-day management. Two former chief executives share the chair, and a third executive runs the company as president and chief executive officer. Insiders other than the namesake each hold well under one percent of the shares.
The 2026 proxy says Mr. Schwab and Walter W. Bettinger II serve as co-chairmen of the board and Richard A. Wurster serves as CEO. The same filing lists Mr. Wurster as President and Chief Executive Officer of The Charles Schwab Corporation and says Mr. Bettinger has been co-chairman since 2022.
Does TD Bank own part of Schwab?
Not anymore. Toronto-Dominion Bank received Schwab shares, including a special nonvoting class, as part of the TD Ameritrade deal. TD later sold those shares in a public offering, and Schwab bought back the remaining nonvoting shares directly. TD no longer holds any Schwab common stock.
Schwab's 2020 Form 10-K says that in the TD Ameritrade acquisition, effective October 6, 2020, TD Ameritrade stockholders received 1.0837 Schwab shares for each TD Ameritrade share, except that TD Bank and its affiliates received a portion in nonvoting common stock. The 2025 Form 10-K says that on February 12, 2025, TD Group US Holdings LLC sold 133.8 million common shares and 31.7 million nonvoting shares in a secondary offering at $79.25 per share, for an aggregate of $13.1 billion, and that Schwab received none of the proceeds.
Concurrently, Schwab repurchased TD's remaining 19.2 million nonvoting shares at $77.982 per share, an aggregate of $1.5 billion, per the 2025 10-K. Through the offering and the repurchase, the same filing says, TD Bank disposed of all of its Schwab common shares, and Schwab had no nonvoting common stock left outstanding. The sequence below summarizes it.
Oct 6, 2020 Schwab acquires TD Ameritrade
TD Bank receives Schwab voting and nonvoting shares
|
v
Feb 12, 2025 TD sells its Schwab shares in a secondary offering
Schwab buys back TD's remaining nonvoting shares
|
v
After TD Bank holds no Schwab common stockFor how other large US financial firms are owned, see Who Owns JPMorgan Chase? and Who Owns Wells Fargo?.
What does Schwab own?
Schwab is a holding company for brokerage, banking, wealth management and asset management businesses. It is regulated as a savings and loan holding company. Client assets held at Schwab belong to clients, not to Schwab's shareholders, even though Schwab reports their total as a measure of its size.
The 2025 Form 10-K describes The Charles Schwab Corporation as a savings and loan holding company that engages, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody and financial advisory services. At December 31, 2025, the same 10-K reports $11.90 trillion in client assets, 38.5 million active brokerage accounts, 5.7 million workplace plan participant accounts and 2.2 million banking accounts.
Where this ownership data falls short
The proxy shows only two holders above five percent, so it says little about the many institutions just below that line. The BlackRock row relies on a filing from more than two years before the proxy. Insider holdings include trusts and charities, so the headline figure overstates what any one person directly owns.
Three limits apply. First, the BlackRock figure in the 2026 proxy rests on a January 2024 Schedule 13G/A. Second, Mr. Schwab's total includes shares held by trusts, partnerships and nonprofits that the proxy footnotes describe, some of which he disclaims. Third, rankings of Schwab's "top shareholders" on finance sites rely on other datasets that this article does not use.
Frequently asked questions
Is Charles Schwab a public company?
Yes. Its common stock trades on the New York Stock Exchange under the symbol SCHW, per its 2025 Form 10-K.
Is Charles Schwab still alive and involved?
Yes. The 2026 proxy lists Charles R. Schwab as co-chairman of the board.
Who is the CEO of Charles Schwab?
Richard A. Wurster is president and chief executive officer, per the 2026 proxy statement.
How can I check Schwab's ownership myself?
Read the latest proxy statement and 13G filings on SEC EDGAR.
Sources and methodology
Ownership figures, board roles and Mr. Schwab's history come from Schwab's 2026 proxy statement (DEF 14A, filed April 6, 2026), with holdings as of March 3, 2026. TD Bank's 2025 exit and current business figures come from Schwab's Form 10-K for 2025 (filed February 25, 2026), and TD Ameritrade deal terms from Schwab's Form 10-K for 2020 (filed February 24, 2021). All were fetched from SEC EDGAR on October 18, 2026. No ownership percentage in this article comes from any other source.