Empirical Financial Services, LLC d.b.a. Empirical Wealth Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 1, 2024), Empirical Financial Services, LLC d.b.a. Empirical Wealth Management reported 564 stock positions worth $3.5 billion. Its top holding was iShares MSCI USA Momentum Fa (MTUM) at 5.5% of the portfolio, followed by Vanguard Short-Term Tips (VTIP, 4.9%) and Vanguard S/T Corp. Bond ETF (VCSH, 4.7%). Compared with Q2 2024, it opened 52 new positions, sold out of 46, added to 274 and reduced 194. The biggest buy was iShares MSCI USA Momentum Fa (MTUM, shares +16%) and the biggest sale Nvidia (NVDA, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- Seattle, WA
- CIK
- 0001510434
- Portfolio Value
- $3.5B (Q3 2024)
- SEC Filing
- 0001085146-24-005297 ↗ filed Nov 1, 2024
Holdings Value
Holdings 564 stocks · $3.5B
| MTUM iShares MSCI USA Momentum Fa | 5.49% | 960,518 | $194.8M | Add +15.7% |
| VTIP Vanguard Short-Term Tips | 4.93% | 3,545,676 | $174.8M | Add +7.5% |
| VCSH Vanguard S/T Corp. Bond ETF | 4.67% | 2,087,209 | $165.8M | Add +2.9% |
| QUAL iShares MSCI USA Quality Fac | 4.26% | 842,162 | $151.0M | Add +5.1% |
| IQLT iShares MSCI International Q | 3.18% | 2,719,885 | $112.8M | Add +5.3% |
| DFUV Dimensional US Marketwide Va | 2.91% | 2,474,894 | $103.2M | Add +10.5% |
| AAPL Apple Inc. | 2.89% | 440,763 | $102.7M | Reduce -7.9% |
| VCIT Vanguard Int-Term Corporate | 2.80% | 1,184,341 | $99.2M | Add +2.7% |
| IEMG iShares Core MSCI Emerging | 2.63% | 1,625,618 | $93.3M | Reduce -0.6% |
| EFV iShares MSCI Eafe Value ETF | 2.57% | 1,584,275 | $91.1M | Reduce -0.4% |
| MSFT Microsoft Corp. | 2.28% | 188,263 | $81.0M | Reduce -2.6% |
| SJNK SS SPDR BB St Hi Yield ETF | 1.99% | 2,737,038 | $70.5M | Add +5.9% |
| DFIV Dimensional International Va | 1.89% | 1,759,499 | $67.0M | Reduce -0.9% |
| NVDA Nvidia Corp. | 1.56% | 457,201 | $55.5M | Reduce -47.4% |
| VGSH Vanguard Short-Term Treasury | 1.51% | 906,854 | $53.5M | Add +3.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.50% | 92,771 | $53.2M | Add +0.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.40% | 283,987 | $49.6M | Reduce -2.2% |
| DFAT Dimensional US Target Value | 1.33% | 846,284 | $47.1M | Add +0.8% |
| META Meta Platforms Inc. Class A | 1.25% | 77,302 | $44.3M | Reduce -6.1% |
| VEA Vanguard Ftse Developed ETF | 1.11% | 748,107 | $39.5M | Add +2.0% |
| VNQ Vanguard Real Estate ETF | 1.07% | 389,682 | $38.0M | Reduce -33.7% |
| AVDV Avantis Intl S/C Value ETF | 1.00% | 501,628 | $35.5M | Reduce -0.9% |
| AMZN Amazon.com Inc. | 0.92% | 175,873 | $32.8M | Add +12.2% |
| COST Costco Wholesale Corp. | 0.79% | 31,522 | $27.9M | Reduce -3.2% |
| VSS Vanguard Ftse All Wo X-US SC | 0.76% | 213,281 | $26.9M | Reduce -3.5% |
| DFAC Dimensional US Core Equity 2 | 0.72% | 745,674 | $25.6M | Reduce -0.1% |
| ESGD iShares Trust iShares ESG Aw | 0.69% | 289,266 | $24.3M | Reduce -5.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.67% | 119,061 | $23.9M | Add +2.5% |
| NVR NVR Inc. | 0.65% | 2,365 | $23.2M | Add +6.2% |
| AVUV Avantis US Small Cap Value | 0.64% | 236,445 | $22.7M | Add +11.0% |
| SCHC Schwab Intl Small-Cap Equity | 0.61% | 559,918 | $21.6M | Add +3.0% |
| ACGL Arch Capital Group Ltd. | 0.60% | 190,448 | $21.3M | Add +5.3% |
| DFAS Dimensional US Small Cap ETF | 0.55% | 303,029 | $19.7M | Add +0.3% |
| FPE FT-Preferred Secur & Inc. ETF | 0.54% | 1,061,134 | $19.2M | Reduce -0.9% |
| STIP iShares 0-5 Year Tips Bond E | 0.52% | 182,891 | $18.5M | Reduce -1.6% |
| OZ Belpointe Prep LLC Class A | 0.51% | 262,218 | $18.1M | Reduce -0.1% |
| BLDR Builders Firstsource Inc. | 0.49% | 89,301 | $17.3M | Add +26.3% |
| ORCL Oracle Corp. | 0.48% | 99,807 | $17.0M | Add +5.2% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.46% | 563,307 | $16.4M | Add +8.1% |
| TSLA Tesla Inc. | 0.46% | 62,767 | $16.4M | Reduce -9.3% |
| SCHF Schwab Intl Equity ETF | 0.46% | 397,376 | $16.3M | Add +8.9% |
| CARR Carrier Global Corp. | 0.45% | 198,543 | $16.0M | Add +11.0% |
| GOOG Alphabet Inc. Class C | 0.45% | 95,238 | $15.9M | Reduce -0.1% |
| NULV Nuveen ESG Large-Cap Val ETF | 0.45% | 380,346 | $15.9M | Add +2.8% |
| SCHX Schwab US Large-Cap ETF | 0.44% | 230,990 | $15.7M | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.44% | 293,315 | $15.6M | Add +6.6% |
| ABBV Abbvie Inc. | 0.44% | 78,933 | $15.6M | Add +7.8% |
| HPQ HP Inc. | 0.43% | 428,291 | $15.4M | Add +8.8% |
| VTI VG Morningstar TS MKT ETF-US | 0.42% | 52,194 | $14.8M | Reduce -10.3% |
| ADBE Adobe Inc. | 0.42% | 28,480 | $14.7M | Add +12.6% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.41% | 560,119 | $14.7M | Add +5.0% |
| BLK BlackRock Finance Inc. | 0.40% | 15,124 | $14.4M | Add +14.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.40% | 54,456 | $14.3M | Reduce -0.0% |
| VNQI Vanguard GLBL Ex-US Real Est | 0.40% | 303,896 | $14.3M | Reduce -27.2% |
| MCK McKesson Corp. | 0.39% | 28,070 | $13.9M | Add +11.9% |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | 0.38% | 65,673 | $13.6M | Add +14.5% |
| FEM First Trust Emerging Markets | 0.38% | 555,454 | $13.3M | Reduce -5.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.36% | 53,596 | $12.7M | Reduce -0.7% |
| IWC iShares Micro-Cap ETF | 0.36% | 102,235 | $12.6M | Add +4.5% |
| AMAT Applied Materials Inc. | 0.34% | 59,989 | $12.1M | Add +9.0% |
| VWO Vanguard Ftse Emerging Marke | 0.34% | 248,934 | $11.9M | Reduce -1.0% |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | 0.34% | 92,843 | $11.9M | Reduce -3.6% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.33% | 36,144 | $11.6M | Add +30.6% |
| EFG iShares MSCI Eafe Growth ETF | 0.33% | 108,045 | $11.6M | Add +20.0% |
| GILD Gilead Sciences Inc. | 0.32% | 136,785 | $11.5M | Add +31.8% |
| EWX State Street SPDR S&P Emergi | 0.32% | 181,785 | $11.3M | Reduce -0.1% |
| SCHV Schwab US Large-Cap Value | 0.31% | 138,389 | $11.1M | Reduce -0.6% |
| GOOGL Alphabet Inc. Class A | 0.31% | 67,036 | $11.1M | Reduce -12.3% |
| JNJ Johnson & Johnson | 0.31% | 68,233 | $11.1M | Reduce -2.3% |
| RS Reliance Inc. | 0.31% | 37,928 | $11.0M | Add +23.8% |
| ESGE iShares Inc. iShares ESG Awar | 0.31% | 299,102 | $10.9M | Reduce -9.6% |
| ESML iShares ESG Aware MSCI USA S | 0.30% | 253,788 | $10.6M | Add +4.0% |
| SCHA Schwab US Small-Cap ETF | 0.30% | 204,918 | $10.6M | Add +0.5% |
| AZO AutoZone Inc. | 0.30% | 3,338 | $10.5M | Add +8.8% |
| NFLX Netflix Inc. | 0.29% | 14,742 | $10.5M | Add +225.2% |
| IJR iShares Core S&P Small-Cap E | 0.29% | 87,573 | $10.2M | Add +19.1% |
| VFMO Vanguard US Momentum Factor | 0.29% | 63,247 | $10.2M | Add +3.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 20,794 | $10.1M | Add +4.5% |
| PHM Pultegroup Inc. | 0.28% | 68,789 | $9.9M | Add +12.7% |
| AFL Aflac Inc. | 0.28% | 88,294 | $9.9M | Add +8.3% |
| DELL Dell Technologies -C | 0.27% | 82,161 | $9.7M | Reduce -28.0% |
| VYM Vanguard High DVD Yield ETF | 0.27% | 75,548 | $9.7M | Add +0.7% |
| NUMV Nuveen ESG Mid-Cap Value ETF | 0.27% | 259,267 | $9.6M | Reduce -2.6% |
| DOX Amdocs Ltd. | 0.26% | 105,249 | $9.2M | Add +30.3% |
| IVV iShares Core S&P 500 ETF | 0.25% | 15,449 | $8.9M | Add +10.3% |
| UPS United Parcel Service Class B | 0.25% | 65,059 | $8.9M | Add +27.0% |
| DWX State Street SPDR S&P Intern | 0.24% | 219,104 | $8.4M | Add +1.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.23% | 213,701 | $8.0M | Reduce -2.6% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.22% | 47,179 | $7.9M | Add +43.0% |
| XOM Exxon Mobil Corp. | 0.22% | 67,351 | $7.9M | Add +9.6% |
| CI The Cigna Group | 0.22% | 22,770 | $7.9M | Add +16.0% |
| CVX Chevron Corp. | 0.22% | 52,846 | $7.8M | Add +48.5% |
| ESGU iShares ESG Aware MSCI USA | 0.22% | 60,919 | $7.7M | Reduce -0.4% |
| LEN Lennar Corp. Class A | 0.21% | 39,678 | $7.4M | Add +14.2% |
| SHM SS SPDR N Ice St Muni ETF | 0.21% | 154,335 | $7.4M | Reduce -1.9% |
| DHR Danaher Corp. | 0.20% | 25,426 | $7.1M | Add +3.7% |
| VOO Vanguard S&P 500 ETF | 0.20% | 13,331 | $7.0M | Add +1.8% |
| SPIB SS SPDR P Int C Corp. ETF | 0.20% | 205,490 | $6.9M | Reduce -9.0% |
| HD Home Depot Inc. | 0.19% | 16,633 | $6.7M | Add +6.3% |
| SCHW Schwab (charles) Corp. | 0.18% | 101,245 | $6.6M | Reduce -1.5% |
Options reported separately and not counted above: NVDA puts ($8.4M), NFLX puts ($3.9M), COST puts ($2.7M), AAPL puts ($559K), TSLA puts ($523K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $1K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MOBXW Chavrant Capital Acq -CW23 | *W EXP 12/21/202 | 13,000 | $1K | No change |
Total filed on the 13F, all lines: $3.5B.
Portfolio Sells Q2 2024 → Q3 2024
| NVDA Nvidia Corp. | Reduce -47.4% | 1.56% | −1.67 |
| VNQ Vanguard Real Estate ETF | Reduce -33.7% | 1.07% | −0.42 |
| MSFT Microsoft Corp. | Reduce -2.6% | 2.28% | −0.32 |
| DELL Dell Technologies -C | Reduce -28.0% | 0.27% | −0.20 |
| AAPL Apple Inc. | Reduce -7.9% | 2.89% | −0.15 |
| VNQI Vanguard GLBL Ex-US Real Est | Reduce -27.2% | 0.40% | −0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -12.3% | 0.31% | −0.11 |
| AVGO Broadcom Inc. | Reduce -34.5% | 0.17% | −0.09 |
| FM iShares Frontier and Select | Sold out | 0.00% | −0.09 |
| GOOG Alphabet Inc. Class C | Reduce -0.1% | 0.45% | −0.08 |
| SNAP Snap Inc. Class A | Reduce -3.4% | 0.09% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -10.3% | 0.42% | −0.05 |
| FEM First Trust Emerging Markets | Reduce -5.5% | 0.38% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -3.2% | 0.79% | −0.05 |
| SCHW Schwab (charles) Corp. | Reduce -1.5% | 0.18% | −0.04 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.04 |
| BA The Boeing Co. | Reduce -29.4% | 0.05% | −0.04 |
| ESGD iShares Trust iShares ESG Aw | Reduce -5.1% | 0.69% | −0.04 |
| DFIV Dimensional International Va | Reduce -0.9% | 1.89% | −0.04 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -1.6% | 0.52% | −0.04 |
| INTC Intel Corp. | Reduce -23.9% | 0.04% | −0.03 |
| QCOM Qualcomm Inc. | Reduce -23.4% | 0.05% | −0.03 |
| AMGN Amgen Inc. | Reduce -16.1% | 0.12% | −0.03 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -9.6% | 0.31% | −0.03 |
| SPIB SS SPDR P Int C Corp. ETF | Reduce -9.0% | 0.20% | −0.03 |
| VSS Vanguard Ftse All Wo X-US SC | Reduce -3.5% | 0.76% | −0.03 |
| SCHH Schwab US REIT ETF | Reduce -24.0% | 0.12% | −0.03 |
| IVE iShares S&P 500 Value ETF | Reduce -54.7% | 0.02% | −0.02 |
| MU Micron Technology Inc. | Reduce -52.8% | 0.01% | −0.02 |
| BBY Best Buy Co. Inc. | Sold out | 0.00% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -34.0% | 0.04% | −0.02 |
| FPE FT-Preferred Secur & Inc. ETF | Reduce -0.9% | 0.54% | −0.02 |
| IBB iShares Biotechnology ETF | Sold out | 0.00% | −0.02 |
| IVW iShares S&P 500 Growth ETF | Reduce -39.7% | 0.03% | −0.02 |
| SPSB SS SPDR P St C Corp. ETF | Reduce -5.1% | 0.17% | −0.02 |
| WIRE Encore Wire Corp. | Sold out | 0.00% | −0.02 |
| VUSB Vanguard Ultra Short Bond Et | Sold out | 0.00% | −0.02 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.02 |
| UNP Union Pacific Corp. | Reduce -37.3% | 0.03% | −0.01 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -1.9% | 0.21% | −0.01 |
| WAFD Wafd Inc. | Sold out | 0.00% | −0.01 |
| DIOD Diodes Inc. | Sold out | 0.00% | −0.01 |
| HYD Vaneck High Yield Muni ETF | Reduce -3.6% | 0.18% | −0.01 |
| MUB iShares National Muni Bond E | Reduce -3.3% | 0.16% | −0.01 |
| VMBS Vanguard Mortgage-Backed Sec | Sold out | 0.00% | −0.01 |
| F Ford Motor Co. | Reduce -61.1% | 0.01% | −0.01 |
| QLD Proshares Ultra QQQ | Sold out | 0.00% | −0.01 |
| SCHI Schwab 5-10 Year Corporate B | Sold out | 0.00% | −0.01 |
| VGR Vector Group Ltd. | Sold out | 0.00% | −0.01 |
| MGM MGM Resorts International | Reduce -19.1% | 0.02% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| MTUM iShares MSCI USA Momentum Fa | Add +15.7% | 5.49% | +0.61 |
| DFUV Dimensional US Marketwide Va | Add +10.5% | 2.91% | +0.26 |
| NFLX Netflix Inc. | Add +225.2% | 0.29% | +0.20 |
| BLDR Builders Firstsource Inc. | Add +26.3% | 0.49% | +0.19 |
| NVR NVR Inc. | Add +6.2% | 0.65% | +0.14 |
| IQLT iShares MSCI International Q | Add +5.3% | 3.18% | +0.14 |
| QUAL iShares MSCI USA Quality Fac | Add +5.1% | 4.26% | +0.13 |
| CARR Carrier Global Corp. | Add +11.0% | 0.45% | +0.11 |
| GILD Gilead Sciences Inc. | Add +31.8% | 0.32% | +0.11 |
| VTIP Vanguard Short-Term Tips | Add +7.5% | 4.93% | +0.10 |
| BLK BlackRock Finance Inc. | Add +14.0% | 0.40% | +0.09 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +129.3% | 0.16% | +0.09 |
| PHM Pultegroup Inc. | Add +12.7% | 0.28% | +0.08 |
| ORCL Oracle Corp. | Add +5.2% | 0.48% | +0.08 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +43.0% | 0.22% | +0.07 |
| DOX Amdocs Ltd. | Add +30.3% | 0.26% | +0.07 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +30.6% | 0.33% | +0.07 |
| AVUV Avantis US Small Cap Value | Add +11.0% | 0.64% | +0.06 |
| ABBV Abbvie Inc. | Add +7.8% | 0.44% | +0.06 |
| AFL Aflac Inc. | Add +8.3% | 0.28% | +0.06 |
| LEN Lennar Corp. Class A | Add +14.2% | 0.21% | +0.05 |
| IJR iShares Core S&P Small-Cap E | Add +19.1% | 0.29% | +0.05 |
| CVX Chevron Corp. | Add +48.5% | 0.22% | +0.05 |
| ACGL Arch Capital Group Ltd. | Add +5.3% | 0.60% | +0.05 |
| EFG iShares MSCI Eafe Growth ETF | Add +20.0% | 0.33% | +0.05 |
| CSCO Cisco Systems Inc. | Add +6.6% | 0.44% | +0.05 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +8.1% | 0.46% | +0.05 |
| RS Reliance Inc. | Add +23.8% | 0.31% | +0.05 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +14.5% | 0.38% | +0.04 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +5.9% | 1.99% | +0.04 |
| UPS United Parcel Service Class B | Add +27.0% | 0.25% | +0.04 |
| SCHF Schwab Intl Equity ETF | Add +8.9% | 0.46% | +0.04 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +2.5% | 0.67% | +0.03 |
| IPG Interpublic Group of Cos Inc. | Add +19.0% | 0.18% | +0.03 |
| ADP Automatic Data Processing | Add +31.1% | 0.11% | +0.03 |
| OMC Omnicom Group | Add +11.6% | 0.17% | +0.03 |
| MCD McDonald's Corp. | Add +15.7% | 0.12% | +0.03 |
| HD Home Depot Inc. | Add +6.3% | 0.19% | +0.03 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| CI The Cigna Group | Add +16.0% | 0.22% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +21.3% | 0.11% | +0.03 |
| NULV Nuveen ESG Large-Cap Val ETF | Add +2.8% | 0.45% | +0.03 |
| ROK Rockwell Automation Inc. | Add +253.0% | 0.04% | +0.03 |
| WMT Walmart Inc. | Add +24.9% | 0.09% | +0.03 |
| SCHC Schwab Intl Small-Cap Equity | Add +3.0% | 0.61% | +0.02 |
| AZO AutoZone Inc. | Add +8.8% | 0.30% | +0.02 |
| JBL Jabil Inc. | Add +22.1% | 0.10% | +0.02 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Add +37.7% | 0.08% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +10.3% | 0.25% | +0.02 |
| VEA Vanguard Ftse Developed ETF | Add +2.0% | 1.11% | +0.02 |
Options Activity Q2 2024 → Q3 2024
| NVDA Nvidia Corp. | put | Reduce -85.5% | 68,800 | $8.4M |
| NFLX Netflix Inc. | put | New | 5,500 | $3.9M |
| COST Costco Wholesale Corp. | put | New | 3,000 | $2.7M |
| AAPL Apple Inc. | put | New | 2,400 | $559K |
| TSLA Tesla Inc. | put | Add +53.9% | 2,000 | $523K |
| TSLA Tesla Inc. | call | Sold out | 2,100 | $416Kbefore 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 |