Financial Advocates Investment Management

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 25, 2024), Financial Advocates Investment Management reported 749 stock positions worth $1.8 billion. Its top holding was Apple (AAPL) at 4.8% of the portfolio, followed by Nvidia (NVDA, 3.5%) and SS SPDR S&P 500 ETF Trust-US (SPY, 3.0%). Compared with Q2 2024, it opened 63 new positions, sold out of 29, added to 379 and reduced 284. The biggest buy was a new position in SS SPDR S&P Metals Mining (XME) and the biggest sale SS SPDR BB 1-3M T-Bill ETF (BIL, shares −49%).

Most Recent 13F
Q3 2025
Location
OLYMPIA, WA
CIK
0001730293
Portfolio Value
$1.8B (Q3 2024)
SEC Filing
0001730293-24-000005 ↗ filed Oct 25, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.7B Q1 2024 Q2 2024: $1.6B Q2 2024 Q3 2024: $1.8B $1.8B Q3 2024 Q4 2024: $1.8B Q4 2024 Q1 2025: $1.4B Q1 2025 Q2 2025: $1.2B Q2 2025 Q3 2025: $177.9M Q3 2025

Holdings 749 stocks · $1.8B
AAPL Apple Inc. 4.83% 366,327 $85.4M Reduce -2.7%
NVDA Nvidia Corp. 3.50% 508,784 $61.8M Add +4.1%
SPY SS SPDR S&P 500 ETF Trust-US 2.97% 91,368 $52.4M Reduce -8.2%
MSFT Microsoft Corp. 2.93% 120,196 $51.7M Add +0.9%
SPYG SS SPDR P S&P 500 Growth ETF 1.68% 356,813 $29.6M Reduce -0.6%
VTI VG Morningstar TS MKT ETF-US 1.52% 96,348 $26.8M Add +2.2%
IEFA iShares Core MSCI Eafe ETF 1.43% 323,196 $25.2M Add +11.2%
AMZN Amazon.com Inc. 1.38% 131,016 $24.4M Add +2.7%
IJH iShares Core S&P Midcap ETF 1.38% 388,500 $24.3M Add +10.1%
GOVT iShares US Treasury Bond ETF 1.26% 951,364 $22.3M Add +17.5%
IUSG iShares Core S&P U.S. Growth 1.07% 143,127 $18.9M Add +13.9%
XME SS SPDR S&P Metals Mining 1.03% 198,941 $18.2M New
AGG iShares Core U.S. Aggregate 0.97% 170,440 $17.2M Add +1.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.95% 43,702 $16.7M Reduce -5.5%
IVW iShares S&P 500 Growth ETF 0.95% 189,627 $16.7M Reduce -20.9%
QUAL iShares MSCI USA Quality Fac 0.90% 95,736 $15.9M Add +14.4%
QQQ Invesco QQQ Trust Series 1 0.90% 32,420 $15.8M Reduce -8.1%
GLD SPDR Gold Shares 0.86% 62,723 $15.2M Add +3.0%
XLV SS Health Care Select Sector 0.83% 96,792 $14.7M Add +129.8%
IUSV iShares Core S&P U.S. Value 0.81% 147,647 $14.3M Add +28.9%
IWM iShares Russell 2000 ETF 0.80% 139,972 $14.1M Add +184.9%
TSLA Tesla Inc. 0.79% 53,003 $13.9M Add +1.8%
ZROZ PIMCO 25+ YR Zero CPN US Tif 0.78% 166,730 $13.7M Add +44.8%
SPHQ Invesco S&P 500 Quality ETF 0.74% 193,582 $13.1M Reduce -1.7%
COWZ Pacer US Cash Cows 100 ETF 0.74% 225,114 $13.0M Add +1.2%
JGRO JPMorgan Active Growth ETF 0.74% 168,931 $13.0M Add +2.8%
IVE iShares S&P 500 Value ETF 0.73% 65,138 $12.8M Reduce -7.2%
IJR iShares Core S&P Small-Cap E 0.71% 99,771 $12.6M Add +20.2%
RSP Invesco S&P 500 Equal Weight 0.70% 69,295 $12.4M Reduce -3.6%
BILS SS Spdrb B 3-12M T-Bill ETF 0.67% 118,131 $11.8M Add +17.8%
IGIB iShares 5-10Y Inv Grade Corp. 0.62% 205,092 $11.0M Add +30.7%
PAVE Global X US Infrastructure 0.62% 264,767 $10.9M Add +1.7%
SHY iShares 1-3 Year Treasury Bo 0.62% 51,574 $10.9M Add +62.5%
IEMG iShares Core MSCI Emerging 0.62% 189,265 $10.9M Add +8.9%
SPYM Ste STR SPDR PT S&P 500 ETF 0.60% 156,040 $10.5M Reduce -0.6%
BIL SS SPDR BB 1-3M T-Bill ETF 0.57% 108,809 $10.0M Reduce -48.9%
AVUV Avantis US Small Cap Value 0.56% 103,752 $10.0M Add +60.6%
XLE SS Energy Select Sector 0.56% 106,342 $9.8M Reduce -15.5%
BRK.B Berkshire Hathaway Inc. Class B 0.55% 21,164 $9.7M Reduce -3.5%
SDY SS SPDR S&P Dividend ETF 0.55% 68,021 $9.7M Reduce -0.2%
MBB iShares MBS ETF 0.55% 101,200 $9.7M Reduce -2.5%
VCIT Vanguard Int-Term Corporate 0.54% 114,192 $9.6M Add +14.3%
COST Costco Wholesale Corp. 0.53% 10,558 $9.4M Reduce -0.5%
SPGP Invesco S&P 500 Garp ETF 0.51% 85,353 $8.9M Add +1.9%
VTV Vanguard Mrngstr Val ETF-Aui 0.50% 50,970 $8.9M Add +0.4%
XLG Invesco S&P 500 Top 50 ETF 0.48% 177,494 $8.5M Reduce -9.5%
VIG Vanguard Dividend Apprec ETF 0.48% 42,428 $8.4M Add +14.0%
IVV iShares Core S&P 500 ETF 0.46% 18,636 $8.2M Reduce -10.0%
BND Vanguard Total Bond Market 0.46% 108,537 $8.2M Reduce -30.4%
USMV iShares MSCI USA Min Vol Fac 0.45% 87,309 $8.0M Add +43.2%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.44% 213,761 $7.8M Add +2.3%
EMB iShares JP Morgan Usd Emergi 0.43% 78,883 $7.5M Add +71.0%
XMMO Invesco S&P Midcap Momentum 0.42% 67,624 $7.5M Add +30.2%
JPSE JPM Diversified RT Small Cap filed as J P MORGAN EXCHANGE TRADED F 0.42% 154,909 $7.4M Add +1.1%
V Visa Inc. Class A 0.41% 26,065 $7.2M Add +0.9%
BIV Vanguard Intermediate-Term B 0.41% 93,186 $7.2M Add +84.6%
MOAT Vaneck Morningstar Wide Moat 0.40% 72,626 $7.0M Reduce -7.7%
XLK SS Technology Select Sector 0.40% 39,145 $7.0M Add +47.0%
SPIB SS SPDR P Int C Corp. ETF 0.38% 197,939 $6.7M Add +20.3%
MINT PIMCO Enhanced Short Maturit 0.37% 64,301 $6.5M Add +84.6%
QQQM Invesco Nasdaq 100 ETF 0.36% 31,868 $6.4M Add +37.0%
IQLT iShares MSCI International Q 0.36% 66,940 $6.4M New
ESGU iShares ESG Aware MSCI USA 0.35% 125,313 $6.2M Add +1428.2%
XLRE SS Real Estate Select Sector 0.34% 135,689 $6.1M Add +1.9%
FIXD First Trust Smith Opportunis 0.34% 133,194 $6.0M Reduce -0.1%
GOOGL Alphabet Inc. Class A 0.34% 36,140 $6.0M Add +1.8%
LLY Eli Lilly & Co. 0.34% 6,710 $5.9M Reduce -4.2%
AXON Axon Enterprise Inc. 0.34% 14,876 $5.9M Reduce -1.8%
META Meta Platforms Inc. Class A 0.33% 10,151 $5.8M Add +1.1%
GBIL Goldman Sachs Access Treasur 0.32% 57,131 $5.7M Add +51.3%
ABBV Abbvie Inc. 0.32% 28,907 $5.7M Add +0.7%
FMB First Trust Managed Municipa 0.32% 109,064 $5.7M Reduce -1.7%
PTLC Pacer Trendpilot US Large Ca 0.32% 108,716 $5.6M Add +4.3%
CAT Caterpillar Inc. 0.32% 14,245 $5.6M Reduce -9.3%
FVD First Trust Value Line DVD 0.30% 116,973 $5.3M Add +2.8%
LMBS First Trust Low Duration Opp 0.30% 110,047 $5.3M Add +56.2%
AOA iShares Core 80/20 Aggressiv 0.29% 58,043 $5.2M Add +51.2%
GOOG Alphabet Inc. Class C 0.29% 30,628 $5.1M Reduce -0.5%
CVX Chevron Corp. 0.29% 34,754 $5.1M Reduce -0.2%
PG The Procter & Gamble Co. 0.29% 29,335 $5.1M Reduce -0.7%
BIBL Inspire 100 ETF 0.28% 123,208 $5.0M Reduce -0.5%
IQDG Wisdomtree Intl QLTY DVD GRW 0.28% 127,743 $5.0M Add +3.0%
IGSB iShares 1-5Y Inv Grade Corp. 0.28% 94,675 $5.0M Add +4.3%
SPYV SS SPDR P S&P 500 Value ETF 0.28% 93,930 $5.0M Add +4.3%
AMGN Amgen Inc. 0.28% 15,385 $5.0M Add +3.7%
SDVY First Trust Smid Cap Rising 0.27% 130,486 $4.7M Add +16.5%
XLP SS Consumer Staples Sel Sect 0.27% 55,151 $4.7M Add +52.6%
IWB iShares Russell 1000 ETF 0.27% 91,935 $4.7M New
VOO Vanguard S&P 500 ETF 0.27% 8,960 $4.7M Add +63.2%
NEE Nextera Energy Inc. 0.26% 55,360 $4.7M Reduce -3.0%
ICVT iShares Convertible Bond ETF 0.26% 50,799 $4.6M New
BA The Boeing Co. 0.26% 30,067 $4.6M Add +4.1%
IHDG Wisdomtree International Hed 0.26% 99,518 $4.6M Reduce -1.3%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.26% 17,275 $4.5M Add +82.0%
PTNQ Pacer Trendpilot 100 ETF 0.25% 60,730 $4.5M Add +0.7%
MUB iShares National Muni Bond E 0.24% 39,774 $4.3M Add +0.4%
RDVY First Trust Rising Dividend 0.24% 72,496 $4.3M Reduce -2.2%
SHOP Shopify Inc. Class A 0.24% 53,226 $4.3M Add +1.8%
JPM JPMorgan Chase & Co. 0.24% 20,133 $4.2M Reduce -1.7%
BSV Vanguard Short-Term Bond ETF 0.24% 53,675 $4.2M Reduce -13.1%

Show all 749 holdings

Options reported separately and not counted above: SPY puts ($631K), MSFT calls ($473K), IUSG calls ($264K), QQQ puts ($244K), GLD puts ($243K), AMZN puts ($168K), SLV calls ($145K), NVDA puts ($121K), AAPL puts ($93K), SLV puts ($85K), SDY puts ($71K), SNOW calls ($69K), and 6 more.

Other holdings (1): bonds, preferreds, convertibles and warrants · $221K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 172$221KNo change

Total filed on the 13F, all lines: $1.8B.

Portfolio Sells Q2 2024 → Q3 2024
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -48.9% 0.57% −0.65
MTUM iShares MSCI USA Momentum Fa Reduce -33.9% 0.11% −0.50
IVW iShares S&P 500 Growth ETF Reduce -20.9% 0.95% −0.43
SPY SS SPDR S&P 500 ETF Trust-US Reduce -8.2% 2.97% −0.40
FLOT iShares Floating Rate Bond E Reduce -74.3% 0.08% −0.27
IUSB Ishr CR Unvrse Usd BD ETF-Ui Reduce -70.1% 0.11% −0.27
TLH iShares 10-20 Year Treasury Reduce -79.8% 0.07% −0.24
BND Vanguard Total Bond Market Reduce -30.4% 0.46% −0.24
TLT iShares 20+ Year Treasury BD Reduce -65.3% 0.12% −0.21
SPLV Invesco S&P 500 Low Volatili Reduce -58.1% 0.15% −0.19
EFG iShares MSCI Eafe Growth ETF Reduce -84.6% 0.02% −0.18
MGK Vngrd Mrgstr MG CP GR ETF-Ui Reduce -63.9% 0.08% −0.17
XLE SS Energy Select Sector Reduce -15.5% 0.56% −0.16
QQQ Invesco QQQ Trust Series 1 Reduce -8.1% 0.90% −0.16
EFAV iShares MSCI Eafe Min Vol Fa Sold out 0.00% −0.15
VUG Vanguard Mrngstar GR ETF-Sui Reduce -5.5% 0.95% −0.13
IXN iShares Global Tech ETF Sold out 0.00% −0.13
SPYG SS SPDR P S&P 500 Growth ETF Reduce -0.6% 1.68% −0.11
INTC Intel Corp. Reduce -50.1% 0.05% −0.10
AAPL Apple Inc. Reduce -2.7% 4.83% −0.10
SLV iShares Silver Trust Reduce -27.3% 0.24% −0.10
FTSL First Trust Senior Loan ETF Reduce -74.4% 0.03% −0.09
AMLP Alerian MLP ETF Reduce -26.9% 0.15% −0.08
XLG Invesco S&P 500 Top 50 ETF Reduce -9.5% 0.48% −0.08
SPSB SS SPDR P St C Corp. ETF Reduce -21.3% 0.19% −0.07
IVE iShares S&P 500 Value ETF Reduce -7.2% 0.73% −0.07
XLI SS Industrial Select Sector Reduce -29.4% 0.10% −0.07
ICOW Pacer Developed Markets Inte Reduce -43.8% 0.07% −0.06
URA Global X Uranium ETF Reduce -57.8% 0.04% −0.06
GOOG Alphabet Inc. Class C Reduce -0.5% 0.29% −0.06
VNLA Janus Henderson Short Durati Reduce -33.4% 0.09% −0.06
LLY Eli Lilly & Co. Reduce -4.2% 0.34% −0.06
BSV Vanguard Short-Term Bond ETF Reduce -13.1% 0.24% −0.06
EFV iShares MSCI Eafe Value ETF Reduce -88.3% 0.01% −0.05
CVX Chevron Corp. Reduce -0.2% 0.29% −0.05
MBB iShares MBS ETF Reduce -2.5% 0.55% −0.05
MRK Merck & Co. Inc. Reduce -10.1% 0.14% −0.05
GDX Vaneck Gold Miners ETF Reduce -71.2% 0.03% −0.04
SPHQ Invesco S&P 500 Quality ETF Reduce -1.7% 0.74% −0.04
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -56.3% 0.03% −0.04
DIVB iShares Core Dividend ETF Reduce -47.8% 0.04% −0.04
RWR SS SPDR Dow Jones REIT ETF Sold out 0.00% −0.03
SPMO Invesco S&P 500 Momentum ETF Reduce -7.7% 0.17% −0.03
LVHI Franklin International Low V Sold out 0.00% −0.03
SCHG Schwab US Large-Cap Growth Reduce -8.5% 0.20% −0.03
XMHQ Invesco S&P Midcap Qual ETF Reduce -29.4% 0.07% −0.03
XOM Exxon Mobil Corp. Reduce -6.0% 0.22% −0.03
RSP Invesco S&P 500 Equal Weight Reduce -3.6% 0.70% −0.03
FMB First Trust Managed Municipa Reduce -1.7% 0.32% −0.03
DIVI Franklin International Core Reduce -47.7% 0.03% −0.03

Portfolio Buys Q2 2024 → Q3 2024
XME SS SPDR S&P Metals Mining New 1.03% +1.03
SHY iShares 1-3 Year Treasury Bo Add +62.5% 0.62% +0.45
XLV SS Health Care Select Sector Add +129.8% 0.83% +0.45
IQLT iShares MSCI International Q New 0.36% +0.36
ESGU iShares ESG Aware MSCI USA Add +1428.2% 0.35% +0.29
IWB iShares Russell 1000 ETF New 0.27% +0.27
ICVT iShares Convertible Bond ETF New 0.26% +0.26
ZROZ PIMCO 25+ YR Zero CPN US Tif Add +44.8% 0.78% +0.24
AVUV Avantis US Small Cap Value Add +60.6% 0.56% +0.20
IUSV iShares Core S&P U.S. Value Add +28.9% 0.81% +0.18
IWM iShares Russell 2000 ETF Add +184.9% 0.80% +0.18
EMB iShares JP Morgan Usd Emergi Add +71.0% 0.43% +0.17
BIV Vanguard Intermediate-Term B Add +84.6% 0.41% +0.17
IJR iShares Core S&P Small-Cap E Add +20.2% 0.71% +0.16
MINT PIMCO Enhanced Short Maturit Add +84.6% 0.37% +0.15
TSLA Tesla Inc. Add +1.8% 0.79% +0.14
USMV iShares MSCI USA Min Vol Fac Add +43.2% 0.45% +0.14
GOVT iShares US Treasury Bond ETF Add +17.5% 1.26% +0.13
IGIB iShares 5-10Y Inv Grade Corp. Add +30.7% 0.62% +0.12
VOT Vngrd Mrngstr MC GRW ETF-Usd Add +82.0% 0.26% +0.12
IEFA iShares Core MSCI Eafe ETF Add +11.2% 1.43% +0.12
AOA iShares Core 80/20 Aggressiv Add +51.2% 0.29% +0.12
PHM Pultegroup Inc. New 0.12% +0.12
XLP SS Consumer Staples Sel Sect Add +52.6% 0.27% +0.10
VOO Vanguard S&P 500 ETF Add +63.2% 0.27% +0.10
IJH iShares Core S&P Midcap ETF Add +10.1% 1.38% +0.09
GBIL Goldman Sachs Access Treasur Add +51.3% 0.32% +0.09
LMBS First Trust Low Duration Opp Add +56.2% 0.30% +0.09
FXI iShares China Large-Cap ETF New 0.08% +0.08
QQQM Invesco Nasdaq 100 ETF Add +37.0% 0.36% +0.08
XBI SS SPDR S&P Biotech ETF New 0.07% +0.07
IUSG iShares Core S&P U.S. Growth Add +13.9% 1.07% +0.07
GRPM Invesco S&P Midcap 400 Garp New 0.07% +0.07
XLF SS Financial Select Sector Add +86.0% 0.14% +0.07
GCOW Pacer Global Cash Cows Divid Add +108.9% 0.12% +0.06
XMMO Invesco S&P Midcap Momentum Add +30.2% 0.42% +0.06
DVY iShares Select Dividend ETF Add +39.0% 0.15% +0.06
REZ Ishars Res and Multi Reales New 0.05% +0.05
VIG Vanguard Dividend Apprec ETF Add +14.0% 0.48% +0.05
FTSM First Trust Enh Short Mat FD Add +56.7% 0.17% +0.05
MSTR Strategy Inc. Add +53.0% 0.12% +0.05
GLD SPDR Gold Shares Add +3.0% 0.86% +0.05
PFXF Vaneck Pref Sec X-Financials New 0.05% +0.05
LWLG Lightwave Logic Inc. New 0.05% +0.05
BILS SS Spdrb B 3-12M T-Bill ETF Add +17.8% 0.67% +0.05
IVLU iShares MSCI International V New 0.05% +0.05
VCIT Vanguard Int-Term Corporate Add +14.3% 0.54% +0.04
SPIB SS SPDR P Int C Corp. ETF Add +20.3% 0.38% +0.04
ITOT iShares Core S&P Total U.S. Add +11.0% 0.15% +0.04
BABA Alibaba Group Holding-SP ADR Add +14.5% 0.12% +0.04

Options Activity Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -47.6% 1,100 $631K
TLT iShares 20+ Year Treasury BD put Sold out 5,300 $486Kbefore exit
MSFT Microsoft Corp. call New 1,100 $473K
IUSG iShares Core S&P U.S. Growth call New 2,000 $264K
QQQ Invesco QQQ Trust Series 1 put New 500 $244K
GLD SPDR Gold Shares put New 1,000 $243K
LRCX Lam Research Corp. put Sold out 200 $213Kbefore exit
CAH Cardinal Health Inc. put Sold out 2,000 $197Kbefore exit
MA Mastercard Inc. Class A put Sold out 400 $176Kbefore exit
AMGN Amgen Inc. put Sold out 500 $156Kbefore exit
ROST Ross Stores Inc. put Sold out 1,000 $145Kbefore exit
KMB Kimberly-Clark Corp. put Sold out 1,000 $138Kbefore exit
DELL Dell Technologies -C call Sold out 1,000 $138Kbefore exit
MAR Marriott International Class A put Sold out 500 $121Kbefore exit
NSC Norfolk Southern Corp. call Sold out 500 $107Kbefore exit
ALB Albemarle Corp. call Sold out 1,000 $96Kbefore exit
SLV iShares Silver Trust put New 3,000 $85K
SDY SS SPDR S&P Dividend ETF put New 500 $71K
PCT Purecycle Technologies Inc. put New 5,500 $52K
BIL SS SPDR BB 1-3M T-Bill ETF call New 500 $46K
INTC Intel Corp. call New 1,800 $42K
GT Goodyear Tire & Rubber Co. put Sold out 3,000 $34Kbefore exit
HUT Hut 8 Corp. put Sold out 2,000 $30Kbefore exit
PFE Pfizer Inc. put Sold out 1,000 $28Kbefore exit
RDFN Redfin Corp. put Sold out 4,000 $24Kbefore exit
SD Sandridge Energy Inc. put Sold out 1,000 $13Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 104$177.9MAAPL, GLD, AOA, MINT, IVV
Q2 2025 609$1.2BAAPL, SPY, NVDA, VTI, MSFT
Q1 2025 706$1.4BNVDA, SPY, SPYG, VTI, XME
Q4 2024 732$1.8BAAPL, NVDA, SPY, MSFT, SPYG
Q3 2024 749$1.8BAAPL, NVDA, SPY, MSFT, SPYG
Q2 2024 715$1.6BAAPL, NVDA, SPY, MSFT, SPYG
Q1 2024 753$1.7BSPY, AAPL, MSFT, NVDA, VUG