Empirical Financial Services, LLC d.b.a. Empirical Wealth Management
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 9, 2024), Empirical Financial Services, LLC d.b.a. Empirical Wealth Management reported 558 stock positions worth $3.3 billion. Its top holding was iShares MSCI USA Momentum Fa (MTUM) at 4.9% of the portfolio, followed by Vanguard Short-Term Tips (VTIP, 4.8%) and Vanguard S/T Corp. Bond ETF (VCSH, 4.7%). Compared with Q1 2024, it opened 56 new positions, sold out of 25, added to 272 and reduced 179. The biggest buy was Meta Platforms Class A (META, shares +162%) and the biggest sale Nvidia (NVDA, shares −43%).
- Most Recent 13F
- Q2 2026
- Location
- Seattle, WA
- CIK
- 0001510434
- Portfolio Value
- $3.3B (Q2 2024)
- SEC Filing
- 0001085146-24-003607 ↗ filed Aug 9, 2024
Holdings Value
Holdings 558 stocks · $3.3B
| MTUM iShares MSCI USA Momentum Fa | 4.88% | 830,036 | $161.7M | Add +1.1% |
| VTIP Vanguard Short-Term Tips | 4.83% | 3,297,294 | $160.1M | Add +3.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 4.73% | 2,028,398 | $156.7M | Add +1.1% |
| QUAL iShares MSCI USA Quality Fac | 4.13% | 801,579 | $136.9M | Add +3.0% |
| NVDA Nvidia Corp. | 3.24% | 869,278 | $107.4M | Reduce -42.6% |
| IQLT iShares MSCI International Q | 3.04% | 2,582,903 | $100.9M | Add +2.5% |
| AAPL Apple Inc. | 3.04% | 478,629 | $100.8M | Reduce -0.5% |
| VCIT Vanguard Int-Term Corporate | 2.78% | 1,153,284 | $92.2M | Add +1.3% |
| DFUV Dimensional US Marketwide Va | 2.65% | 2,239,968 | $88.0M | Add +4.9% |
| IEMG iShares Core MSCI Emerging | 2.64% | 1,634,555 | $87.5M | Reduce -0.1% |
| MSFT Microsoft Corp. | 2.60% | 193,242 | $86.4M | Add +7.8% |
| EFV iShares MSCI Eafe Value ETF | 2.55% | 1,591,052 | $84.4M | Add +3.5% |
| SJNK SS SPDR BB St Hi Yield ETF | 1.95% | 2,584,759 | $64.5M | Reduce -0.3% |
| DFIV Dimensional International Va | 1.92% | 1,775,536 | $63.8M | Reduce -0.7% |
| VGSH Vanguard Short-Term Treasury | 1.53% | 877,126 | $50.9M | Add +3.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.52% | 92,602 | $50.4M | Reduce -0.4% |
| VNQ Vanguard Real Estate ETF | 1.49% | 588,145 | $49.3M | Reduce -4.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.40% | 290,309 | $46.6M | Reduce -3.5% |
| DFAT Dimensional US Target Value | 1.31% | 839,855 | $43.6M | Reduce -1.9% |
| META Meta Platforms Inc. Class A | 1.25% | 82,338 | $41.5M | Add +162.0% |
| VEA Vanguard Ftse Developed ETF | 1.09% | 733,708 | $36.3M | Reduce -0.9% |
| AVDV Avantis Intl S/C Value ETF | 0.99% | 506,118 | $32.9M | Add +0.1% |
| AMZN Amazon.com Inc. | 0.91% | 156,793 | $30.3M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 0.83% | 32,560 | $27.7M | Add +1.9% |
| VSS Vanguard Ftse All Wo X-US SC | 0.78% | 220,920 | $26.0M | Reduce -0.2% |
| DFAC Dimensional US Core Equity 2 | 0.73% | 746,483 | $24.1M | Reduce -5.1% |
| ESGD iShares Trust iShares ESG Aw | 0.72% | 304,761 | $24.0M | Reduce -4.0% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.64% | 116,159 | $21.2M | Reduce -0.6% |
| SCHC Schwab Intl Small-Cap Equity | 0.58% | 543,525 | $19.3M | Add +2.8% |
| AVUV Avantis US Small Cap Value | 0.58% | 212,933 | $19.1M | Add +15.7% |
| FPE FT-Preferred Secur & Inc. ETF | 0.56% | 1,070,765 | $18.6M | Add +1.3% |
| STIP iShares 0-5 Year Tips Bond E | 0.56% | 185,799 | $18.5M | Reduce -3.2% |
| ACGL Arch Capital Group Ltd. | 0.55% | 180,919 | $18.3M | Reduce -2.8% |
| DFAS Dimensional US Small Cap ETF | 0.55% | 302,157 | $18.2M | Add +0.6% |
| GOOG Alphabet Inc. Class C | 0.53% | 95,343 | $17.5M | Add +7.5% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.51% | 417,237 | $16.9M | Reduce -1.4% |
| NVR NVR Inc. | 0.51% | 2,227 | $16.9M | Add +0.4% |
| DELL Dell Technologies -C | 0.47% | 114,159 | $15.7M | Add +23.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.47% | 58,190 | $15.6M | Reduce -5.0% |
| OZ Belpointe Prep LLC Class A | 0.46% | 262,413 | $15.2M | Reduce -3.1% |
| SCHX Schwab US Large-Cap ETF | 0.45% | 229,893 | $14.8M | Add +0.3% |
| MCK McKesson Corp. | 0.44% | 25,087 | $14.7M | Add +10.6% |
| FEM First Trust Emerging Markets | 0.42% | 587,997 | $14.1M | Reduce -3.5% |
| ADBE Adobe Inc. | 0.42% | 25,304 | $14.1M | Reduce -1.2% |
| SCHF Schwab Intl Equity ETF | 0.42% | 364,936 | $14.0M | Add +9.5% |
| NULV Nuveen ESG Large-Cap Val ETF | 0.42% | 370,069 | $14.0M | Reduce -3.5% |
| GOOGL Alphabet Inc. Class A | 0.42% | 76,398 | $13.9M | Reduce -3.4% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.42% | 521,093 | $13.8M | Add +6.3% |
| HPQ HP Inc. | 0.42% | 393,615 | $13.8M | Add +3.4% |
| TSLA Tesla Inc. | 0.41% | 69,172 | $13.7M | Add +17.1% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.41% | 54,468 | $13.6M | Reduce -5.7% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.41% | 533,459 | $13.6M | Add +0.6% |
| ORCL Oracle Corp. | 0.40% | 94,884 | $13.4M | Add +1.8% |
| CSCO Cisco Systems Inc. | 0.39% | 275,077 | $13.1M | Reduce -1.1% |
| AMAT Applied Materials Inc. | 0.39% | 55,037 | $13.0M | Add +3.0% |
| ABBV Abbvie Inc. | 0.38% | 73,234 | $12.6M | Add +2.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.36% | 53,998 | $11.8M | Reduce -1.3% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.34% | 96,339 | $11.4M | Add +5.9% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.34% | 57,342 | $11.3M | Add +7.4% |
| CARR Carrier Global Corp. | 0.34% | 178,928 | $11.3M | Add +1.9% |
| IWC iShares Micro-Cap ETF | 0.34% | 97,873 | $11.2M | Reduce -3.9% |
| ESGE iShares Inc. iShares ESG Awar | 0.33% | 330,799 | $11.1M | Reduce -5.7% |
| VWO Vanguard Ftse Emerging Marke | 0.33% | 251,543 | $11.0M | Reduce -2.7% |
| EWX State Street SPDR S&P Emergi | 0.32% | 182,017 | $10.5M | Reduce -2.0% |
| BLK BlackRock Finance Inc. | 0.32% | 13,270 | $10.4M | Add +11.3% |
| SCHV Schwab US Large-Cap Value | 0.31% | 139,240 | $10.3M | Reduce -2.3% |
| JNJ Johnson & Johnson | 0.31% | 69,855 | $10.2M | Add +24.3% |
| BLDR Builders Firstsource Inc. | 0.30% | 70,709 | $9.8M | Add +5.6% |
| SCHA Schwab US Small-Cap ETF | 0.29% | 203,979 | $9.7M | Reduce -0.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 19,906 | $9.5M | Add +1.6% |
| ESML iShares ESG Aware MSCI USA S | 0.28% | 244,069 | $9.4M | Reduce -2.7% |
| EFG iShares MSCI Eafe Growth ETF | 0.28% | 90,056 | $9.2M | Add +11.2% |
| VFMO Vanguard US Momentum Factor | 0.28% | 60,968 | $9.2M | Reduce -6.2% |
| AZO AutoZone Inc. | 0.27% | 3,069 | $9.1M | Add +0.9% |
| VYM Vanguard High DVD Yield ETF | 0.27% | 75,057 | $8.9M | Add +0.6% |
| NUMV Nuveen ESG Mid-Cap Value ETF | 0.27% | 266,280 | $8.8M | Reduce -4.0% |
| RS Reliance Inc. | 0.26% | 30,637 | $8.7M | Add +7.3% |
| AVGO Broadcom Inc. | 0.26% | 5,446 | $8.7M | Add +86.8% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.26% | 27,682 | $8.7M | Add +5.2% |
| IJR iShares Core S&P Small-Cap E | 0.24% | 73,524 | $7.8M | Add +12.5% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.23% | 219,462 | $7.7M | Reduce -7.8% |
| IVV iShares Core S&P 500 ETF | 0.23% | 14,005 | $7.7M | Reduce -4.5% |
| SCHW Schwab (charles) Corp. | 0.23% | 102,797 | $7.6M | Reduce -1.7% |
| DWX State Street SPDR S&P Intern | 0.23% | 216,904 | $7.5M | Reduce -2.9% |
| SHM SS SPDR N Ice St Muni ETF | 0.22% | 157,365 | $7.4M | Reduce -3.2% |
| SPIB SS SPDR P Int C Corp. ETF | 0.22% | 225,822 | $7.4M | Reduce -0.0% |
| ESGU iShares ESG Aware MSCI USA | 0.22% | 61,168 | $7.3M | Reduce -0.5% |
| AFL Aflac Inc. | 0.22% | 81,515 | $7.3M | Add +3.3% |
| GILD Gilead Sciences Inc. | 0.21% | 103,822 | $7.1M | Reduce -9.6% |
| XOM Exxon Mobil Corp. | 0.21% | 61,463 | $7.1M | Add +3.5% |
| LRCX Lam Research Corp. | 0.21% | 6,585 | $7.0M | Add +2.2% |
| UPS United Parcel Service Class B | 0.21% | 51,239 | $7.0M | Reduce -3.5% |
| PHM Pultegroup Inc. | 0.20% | 61,038 | $6.7M | Add +5.4% |
| VOO Vanguard S&P 500 ETF | 0.20% | 13,097 | $6.6M | Reduce -1.9% |
| CI The Cigna Group | 0.20% | 19,627 | $6.5M | Add +1.5% |
| LLY Eli Lilly & Co. | 0.19% | 7,136 | $6.5M | Reduce -8.7% |
| HYD Vaneck High Yield Muni ETF | 0.19% | 124,069 | $6.4M | Add +0.1% |
| DOX Amdocs Ltd. | 0.19% | 80,748 | $6.4M | Reduce -8.5% |
| FTSL First Trust Senior Loan ETF | 0.19% | 136,735 | $6.3M | Reduce -0.8% |
| SPSB SS SPDR P St C Corp. ETF | 0.19% | 210,225 | $6.2M | Reduce -1.4% |
Options reported separately and not counted above: NVDA puts ($58.5M), TSLA calls ($416K), TSLA puts ($257K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MOBXW Chavrant Capital Acq -CW23 | *W EXP 12/21/202 | 13,000 | $2K | No change |
Total filed on the 13F, all lines: $3.3B.
Portfolio Sells Q1 2024 → Q2 2024
| NVDA Nvidia Corp. | Reduce -42.6% | 3.24% | −1.01 |
| VNQ Vanguard Real Estate ETF | Reduce -4.8% | 1.49% | −0.17 |
| DFAT Dimensional US Target Value | Reduce -1.9% | 1.31% | −0.13 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -3.5% | 1.40% | −0.12 |
| DFIV Dimensional International Va | Reduce -0.7% | 1.92% | −0.11 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -0.3% | 1.95% | −0.08 |
| ESGD iShares Trust iShares ESG Aw | Reduce -4.0% | 0.72% | −0.06 |
| VEA Vanguard Ftse Developed ETF | Reduce -0.9% | 1.09% | −0.06 |
| FM iShares Frontier and Select | Reduce -36.0% | 0.09% | −0.06 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.6% | 0.64% | −0.06 |
| DOX Amdocs Ltd. | Reduce -8.5% | 0.19% | −0.06 |
| DFAC Dimensional US Core Equity 2 | Reduce -5.1% | 0.73% | −0.05 |
| OZ Belpointe Prep LLC Class A | Reduce -3.1% | 0.46% | −0.05 |
| IWC iShares Micro-Cap ETF | Reduce -3.9% | 0.34% | −0.05 |
| GILD Gilead Sciences Inc. | Reduce -9.6% | 0.21% | −0.05 |
| VNQI Vanguard GLBL Ex-US Real Est | Reduce -1.4% | 0.51% | −0.04 |
| NULV Nuveen ESG Large-Cap Val ETF | Reduce -3.5% | 0.42% | −0.04 |
| IOT Samsara Inc. Class A | Reduce -43.2% | 0.04% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -1.1% | 0.39% | −0.04 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -3.2% | 0.56% | −0.03 |
| TRV The Travelers Cos Inc. | Reduce -25.4% | 0.06% | −0.03 |
| UPS United Parcel Service Class B | Reduce -3.5% | 0.21% | −0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.3% | 0.36% | −0.03 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -7.8% | 0.23% | −0.03 |
| ESML iShares ESG Aware MSCI USA S | Reduce -2.7% | 0.28% | −0.03 |
| NUMV Nuveen ESG Mid-Cap Value ETF | Reduce -4.0% | 0.27% | −0.03 |
| VFMO Vanguard US Momentum Factor | Reduce -6.2% | 0.28% | −0.03 |
| HD Home Depot Inc. | Reduce -0.9% | 0.16% | −0.03 |
| SCHV Schwab US Large-Cap Value | Reduce -2.3% | 0.31% | −0.03 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -5.0% | 0.47% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -7.3% | 0.18% | −0.02 |
| SCHA Schwab US Small-Cap ETF | Reduce -0.3% | 0.29% | −0.02 |
| GOLDEN OCEAN GROUP LTD | Sold out | 0.00% | −0.02 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -5.7% | 0.41% | −0.02 |
| MCD McDonald's Corp. | Reduce -5.5% | 0.10% | −0.02 |
| VSS Vanguard Ftse All Wo X-US SC | Reduce -0.2% | 0.78% | −0.02 |
| DWX State Street SPDR S&P Intern | Reduce -2.9% | 0.23% | −0.02 |
| SBLK Star Bulk Carriers Corp. | Sold out | 0.00% | −0.02 |
| KR Kroger Co. | Reduce -5.2% | 0.07% | −0.02 |
| FISV Fiserv Inc. | Reduce -28.3% | 0.03% | −0.02 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -5.7% | 0.33% | −0.02 |
| V Visa Inc. Class A | Reduce -0.1% | 0.17% | −0.02 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -3.2% | 0.22% | −0.02 |
| PBR Petroleo Brasileiro-Spon ADR | Sold out | 0.00% | −0.01 |
| NOW ServiceNow Inc. | Reduce -45.7% | 0.02% | −0.01 |
| FDM First Trust Dow J Select Mic | Reduce -13.3% | 0.06% | −0.01 |
| PH Parker Hannifin Corp. | Reduce -7.7% | 0.06% | −0.01 |
| NUE Nucor Corp. | Reduce -9.3% | 0.03% | −0.01 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| META Meta Platforms Inc. Class A | Add +162.0% | 1.25% | +0.78 |
| MSFT Microsoft Corp. | Add +7.8% | 2.60% | +0.27 |
| QUAL iShares MSCI USA Quality Fac | Add +3.0% | 4.13% | +0.16 |
| DELL Dell Technologies -C | Add +23.3% | 0.47% | +0.15 |
| AVGO Broadcom Inc. | Add +86.8% | 0.26% | +0.14 |
| GOOG Alphabet Inc. Class C | Add +7.5% | 0.53% | +0.11 |
| COST Costco Wholesale Corp. | Add +1.9% | 0.83% | +0.11 |
| MTUM iShares MSCI USA Momentum Fa | Add +1.1% | 4.88% | +0.11 |
| TSLA Tesla Inc. | Add +17.1% | 0.41% | +0.09 |
| AMGN Amgen Inc. | Add +106.4% | 0.15% | +0.08 |
| VTIP Vanguard Short-Term Tips | Add +3.2% | 4.83% | +0.08 |
| MCK McKesson Corp. | Add +10.6% | 0.44% | +0.06 |
| HPQ HP Inc. | Add +3.4% | 0.42% | +0.06 |
| AMAT Applied Materials Inc. | Add +3.0% | 0.39% | +0.05 |
| AVUV Avantis US Small Cap Value | Add +15.7% | 0.58% | +0.04 |
| ORCL Oracle Corp. | Add +1.8% | 0.40% | +0.04 |
| CAT Caterpillar Inc. | Add +66.3% | 0.11% | +0.04 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +6.3% | 0.42% | +0.03 |
| JNJ Johnson & Johnson | Add +24.3% | 0.31% | +0.03 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +7.4% | 0.34% | +0.03 |
| MRK Merck & Co. Inc. | Add +45.9% | 0.12% | +0.03 |
| MU Micron Technology Inc. | Add +370.4% | 0.04% | +0.03 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +5.2% | 0.26% | +0.03 |
| IUSG iShares Core S&P U.S. Growth | New | 0.03% | +0.03 |
| CARR Carrier Global Corp. | Add +1.9% | 0.34% | +0.02 |
| IVE iShares S&P 500 Value ETF | Add +120.7% | 0.05% | +0.02 |
| IWR iShares Russell Mid-Cap ETF | New | 0.02% | +0.02 |
| BBY Best Buy Co. Inc. | New | 0.02% | +0.02 |
| SCHF Schwab Intl Equity ETF | Add +9.5% | 0.42% | +0.02 |
| IVW iShares S&P 500 Growth ETF | Add +65.7% | 0.04% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +36.4% | 0.05% | +0.02 |
| IBB iShares Biotechnology ETF | New | 0.02% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.6% | 0.29% | +0.02 |
| LRCX Lam Research Corp. | Add +2.2% | 0.21% | +0.02 |
| WFC Wells Fargo & Co. | Add +96.1% | 0.04% | +0.02 |
| EFG iShares MSCI Eafe Growth ETF | Add +11.2% | 0.28% | +0.02 |
| VUSB Vanguard Ultra Short Bond Et | New | 0.02% | +0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +18.0% | 0.15% | +0.01 |
| ETN Eaton Corp. PLC | Add +68.8% | 0.04% | +0.01 |
| T AT&T Inc. | Add +10.9% | 0.10% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +7.3% | 0.07% | +0.01 |
| PG The Procter & Gamble Co. | Add +12.5% | 0.13% | +0.01 |
| IUSV iShares Core S&P U.S. Value | New | 0.01% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +33.5% | 0.06% | +0.01 |
| NVS Novartis AG-Sponsored ADR | New | 0.01% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +12.5% | 0.24% | +0.01 |
| KO The Coca-Cola Co. | Add +20.3% | 0.07% | +0.01 |
| BSCO Invesco Bulletshares 2024 CB | Add +18.2% | 0.09% | +0.01 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +27.3% | 0.07% | +0.01 |
| BSCR Invesco Bulletshares 2027 CB | Add +19.2% | 0.09% | +0.01 |
Options Activity Q1 2024 → Q2 2024
| NVDA Nvidia Corp. | put | Reduce -52.1% | 473,800 | $58.5M |
| TSLA Tesla Inc. | call | Add +5.0% | 2,100 | $416K |
| TSLA Tesla Inc. | put | New | 1,300 | $257K |
| UNH Unitedhealth Group Inc. | call | Sold out | 200 | $99Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,045 | $6.8B | NVDA, QUAL, IQLT, MTUM, VTIP |
| Q1 2026 | 982 | $5.8B | NVDA, QUAL, IQLT, VTIP, MTUM |
| Q4 2025 | 890 | $5.6B | QUAL, NVDA, IQLT, MTUM, VTIP |
| Q3 2025 | 789 | $5.0B | NVDA, MTUM, VTIP, QUAL, VCSH |
| Q2 2025 | 683 | $4.4B | MTUM, VTIP, VCSH, QUAL, NVDA |
| Q1 2025 | 645 | $3.9B | MTUM, VTIP, VCSH, QUAL, IQLT |
| Q4 2024 | 608 | $3.7B | MTUM, VTIP, QUAL, VCSH, AAPL |
| Q3 2024 | 564 | $3.5B | MTUM, VTIP, VCSH, QUAL, IQLT |
| Q2 2024 | 558 | $3.3B | MTUM, VTIP, VCSH, QUAL, NVDA |
| Q1 2024 | 526 | $3.2B | VCSH, MTUM, VTIP, NVDA, QUAL |