Core Viewpoint - The Schwab U.S. Dividend Equity ETF has performed exceptionally well this year, driven by significant contributions from the defense and energy sectors [1]. Group 1: Fund Performance - The ETF's top four holdings are Lockheed Martin, ConocoPhillips, Verizon, and Chevron, indicating a strong focus on defense and energy industries [1]. - Investors in the Schwab U.S. Dividend Equity ETF are experiencing unexpected high returns this year, contrary to typical expectations for such funds [1].

Core Viewpoint - The Charles Schwab Corporation is currently considered one of the best spring stocks to buy, with a price target increase from Truist Securities reflecting positive expectations for net interest income growth despite higher projected expenses [1][3]. Financial Projections - Truist Securities has raised its price target for Charles Schwab to $122 from $120 while maintaining a Buy rating [1]. - For 2026, Truist projects a year-over-year expense growth of 5.9%, aligning with Charles Schwab's own estimate range of 5.5–6.5% [3]. - The adjusted pretax margin estimate for 2026 is set at 52%, which is consistent with the company's projected "low 50s range" [3]. - Truist anticipates $8.25 billion in share buybacks for the year, representing approximately 4.6% of the company's market capitalization [3]. Company Overview - The Charles Schwab Corporation operates as a savings and loan holding company, providing services in securities brokerage, wealth management, custody, asset management, and financial advisory [4].

Core Viewpoint - A New York-based broker, Dean Dellas, has pleaded guilty to defrauding clients out of approximately $686,000 through a scheme involving wire fraud and aggravated identity theft [2][7]. Group 1: Background and Professional History - Dean Dellas was a broker and investment advisor at Merrill Lynch's Syracuse office from 2008 until September 2013, and later worked as a dually-registered advisor with Pinnacle Investments until February 2021 [2][3]. - After leaving Pinnacle, Dellas formed DSD Capital Management and continued to advise clients without being registered as an advisor or broker [3]. Group 2: Fraudulent Activities - Dellas misled clients about his advisor fees, claiming a 10% fee while actually taking much higher amounts through unauthorized withdrawals from their accounts [4][5]. - He misrepresented his relationship with clients, falsely stating that he did not receive compensation for his advice, and set up monthly withdrawals to his personal bank account without clients' knowledge [5]. - To conceal his fraudulent activities, Dellas withheld account statements from clients and impersonated them to brokerage firms [6]. Group 3: Legal Proceedings and Consequences - Dellas faces a sentencing date set for June 22, with potential prison time ranging from 2 to 22 years and a maximum fine of $250,000 [7]. - As part of his plea deal, Dellas has agreed to pay restitution to the affected clients [7].

Core Insights - The Charles Schwab Corporation has completed its acquisition of Forge Global Holdings, enhancing its offerings in private market investments for individual investors and Registered Investment Advisors (RIAs) [1][2] - The acquisition is expected to provide expanded access, better value, and increased transparency in private markets, similar to Schwab's historical impact on public markets [2] Company Overview - Charles Schwab is a leading financial services provider with 38 million active brokerage accounts, 5.6 million workplace plan participant accounts, 2.2 million banking accounts, and $11.59 trillion in client assets [3] - The company offers a comprehensive range of services including wealth management, securities brokerage, banking, asset management, custody, and financial advisory services [3] Acquisition Details - Forge's shareholders received $45 in cash per outstanding common share as part of the acquisition, which was unanimously approved by the Boards of Directors of both Schwab and Forge [2] - Integration efforts are currently underway, with Forge continuing to operate its business and maintain relationships with issuers [2]

Group 1 - Barclays analyst Benjamin Budish reiterated a Buy rating on The Charles Schwab Corporation (NYSE:SCHW) with a price target of $120 [1] - The company reported $27.8 billion in core net new assets for January 2026 and total client assets of $12.15 trillion, reflecting an 18% growth compared to January 2025 [2] - CEO Rick Wurster stated that Ameritrade has transitioned to positive net new assets, aligning with Schwab's legacy base [1] Group 2 - The Charles Schwab Corporation, founded in 1971, is a financial services powerhouse providing wealth management, banking, and asset management services [2]

Charles Schwab didn’t just build a brokerage firm — he helped reinvent investing.See where he lands on the #Forbes250 America's Greatest Innovators list: https://t.co/CFs11UNXUH (Photo: Martin Schoeller) https://t.co/7rvDqRTHA6 ...

Group 1 - The Charles Schwab Corporation (NYSE:SCHW) received a Buy rating from Truist Financial and Barclays, with a price target of $126 from Barclays [1][2] - In January 2026, Charles Schwab reported core net new assets of $27.8 billion and total client assets of $12.15 trillion, reflecting an 18% year-over-year increase [2] - The company added 476,000 new brokerage accounts in January, with a daily average trade volume of 9.5 million [2] Group 2 - As of February 24, 2026, Charles Schwab is rated a consensus Buy by 18 of 22 analysts, with a 1-year median upside potential of 31.54% [3] - Founded in 1971, Charles Schwab provides a comprehensive suite of wealth management, banking, and asset management services [3]

Core Viewpoint - The Charles Schwab Corporation (SCHW) is a large-cap financial services company with a market cap of $169.4 billion, offering a wide range of wealth management and financial advisory services both domestically and internationally [1][2]. Company Overview - Charles Schwab operates through two main segments: Investor Services and Advisor Services, providing brokerage, trading solutions, advisory, portfolio management, banking products, and advanced digital trading platforms [2]. - The company has a significant presence with an extensive network of branch offices and integrated web and mobile platforms [1]. Stock Performance - SCHW shares have decreased by 10.6% from their 52-week high of $107.50, but have risen 3.5% over the past three months, outperforming the State Street Financial Select Sector SPDR ETF (XLF), which saw a 1.9% decline [3]. - Year-to-date, SCHW stock is down 4.9%, which is a smaller decline compared to XLF's 5.2% drop. Over the past 52 weeks, SCHW shares have increased by 20.7%, significantly outperforming XLF's 2.2% return [6]. Financial Results - In Q4 2025, Charles Schwab reported record quarterly net revenues of $6.3 billion, marking a 19% year-over-year increase, and an adjusted EPS of $1.39, reflecting a 38% growth [7]. - The company achieved record core net new assets of $163.9 billion in Q4, contributing to a total of $519 billion in full-year net new assets, raising total client assets to an all-time high of $11.90 trillion [7]. Competitive Landscape - In comparison, Bank of America Corporation (BAC) has experienced a 4.7% decline year-to-date, but its shares have gained 19.3% over the past year, which is lower than SCHW's performance [8]. Analyst Sentiment - Analysts maintain a cautiously optimistic outlook for SCHW, with a consensus "Moderate Buy" rating from 22 analysts. The mean price target of $121.37 indicates a potential upside of 26.3% from current levels [9].

Core Viewpoint - The Charles Schwab Corporation is currently viewed as undervalued, trading at less than 16 times earnings, which is the lowest in years, making it an attractive investment opportunity despite recent sell-offs in the financial sector due to AI-related developments [1]. Company Overview - The Charles Schwab Corporation provides a range of services including wealth management, brokerage, banking, and advisory services, along with trading platforms, investment products, and financial planning solutions [2]. Market Context - Recent market reactions have seen a decline in insurance brokerage stocks following the launch of an AI application by Insurify, and a similar impact on wealth management firms after Altruist introduced an AI-powered tax planning tool [1]. - Despite the sell-off affecting major firms like Charles Schwab and Morgan Stanley, the overall performance of these companies remains strong, indicating that the AI threat may be overstated [1].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 1-9700 THE CHARLES SCHWAB CORPORATION (Exact name of registrant as specified in its charter) Delaware 94-3025021 (I.R.S. Employer ...