Madrona Financial Services, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), Madrona Financial Services, LLC reported 121 stock positions worth $453.3 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 13.3% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 9.8%) and Microsoft (MSFT, 7.4%). Compared with Q2 2025, it opened 11 new positions, sold out of 4, added to 44 and reduced 39. The biggest buy was SS SPDR S&P Biotech ETF (XBI, shares +2%) and the biggest sale Microsoft (MSFT, shares −4%).

Most Recent 13F
Q2 2026
Location
EVERETT, WA
CIK
0001578370
Portfolio Value
$453.3M (Q3 2025)
SEC Filing
0001578370-25-000007 ↗ filed Oct 22, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $287.2M Q1 2024 Q2 2024: $325.5M Q2 2024 Q3 2024: $359.8M Q3 2024 Q4 2024: $367.2M Q4 2024 Q1 2025: $363.7M Q1 2025 Q2 2025: $417.0M Q2 2025 Q3 2025: $453.3M $453.3M Q3 2025 Q4 2025: $468.0M Q4 2025 Q1 2026: $456.9M Q1 2026 Q2 2026: $542.6M Q2 2026

Holdings 121 stocks · $453.3M
IVV iShares Core S&P 500 ETF 13.32% 90,236 $60.4M Add +1.4%
QQQ Invesco QQQ Trust Series 1 9.83% 74,209 $44.6M Reduce -0.9%
MSFT Microsoft Corp. 7.44% 65,126 $33.7M Reduce -4.2%
DYNF Ishrs US E F R A ETF-Usd Inc. 6.39% 489,453 $29.0M Add +1.4%
SECT Main Sector Rotation ETF 5.97% 429,238 $27.1M Add +1.0%
FV First Trust DW Focus 5 Fund 5.43% 397,604 $24.6M Add +2.0%
QTUM Defiance Quantum ETF 3.71% 160,273 $16.8M Reduce -0.1%
AIQ Global X Art Intel & Tech 3.48% 319,561 $15.8M Add +0.5%
XBI SS SPDR S&P Biotech ETF 2.84% 128,523 $12.9M Add +2.3%
BND Vanguard Total Bond Market 2.84% 172,931 $12.9M Add +1.8%
ACWX iShares MSCI Acwi Ex US ETF 2.80% 195,309 $12.7M Add +1.0%
COWZ Pacer US Cash Cows 100 ETF 2.80% 220,712 $12.7M Add +0.4%
XMHQ Invesco S&P Midcap Qual ETF 2.73% 117,678 $12.4M Add +1.4%
VB Vanguard Most SM-Cap ETF-Usd 2.37% 42,212 $10.7M Add +1.7%
AAPL Apple Inc. 2.18% 38,817 $9.9M Reduce -0.2%
SMH Vaneck Semiconductor ETF 1.93% 26,842 $8.8M Reduce -0.4%
IEMG iShares Core MSCI Emerging 1.77% 121,469 $8.0M Add +2.9%
BUFR FT Vest Lad Buffervetf-Usd I 1.56% 210,948 $7.0M Add +1.6%
COST Costco Wholesale Corp. 1.17% 5,749 $5.3M Reduce -0.3%
SILA Sila Realty Trust Inc. 1.05% 189,787 $4.8M Reduce -0.9%
JEPI JPMorgan Equity Premium Inco 1.02% 81,118 $4.6M Add +2.5%
BUYW Main Buywrite ETF 1.01% 323,729 $4.6M Add +1.6%
ACWI iShares MSCI Acwi ETF 1.00% 32,932 $4.6M Reduce -5.0%
VTI VG Morningstar TS MKT ETF-US 0.85% 11,700 $3.8M Add +0.4%
IVW iShares S&P 500 Growth ETF 0.83% 31,078 $3.8M Reduce -4.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.72% 4,933 $3.3M Reduce -2.5%
BRK.B Berkshire Hathaway Inc. Class B 0.70% 6,296 $3.2M Add +0.0%
AGG iShares Core U.S. Aggregate 0.70% 31,566 $3.2M Add +4.5%
NVDA Nvidia Corp. 0.66% 15,922 $3.0M Add +4.3%
AMZN Amazon.com Inc. 0.44% 9,149 $2.0M Reduce -1.9%
CCB Coastal Financial Corp. 0.44% 18,465 $2.0M No change
GOOGL Alphabet Inc. Class A 0.44% 8,129 $2.0M Add +0.7%
BA The Boeing Co. 0.40% 8,501 $1.8M Reduce -1.3%
VOO Vanguard S&P 500 ETF 0.35% 2,614 $1.6M Reduce -0.6%
TSLA Tesla Inc. 0.32% 3,309 $1.5M Reduce -3.8%
CVX Chevron Corp. 0.31% 9,108 $1.4M Add +0.8%
MARM Ftvestus Max Buff ETF March 0.30% 41,182 $1.3M No change
GOOG Alphabet Inc. Class C 0.27% 5,024 $1.2M Add +2.0%
XLG Invesco S&P 500 Top 50 ETF 0.26% 20,381 $1.2M Reduce -3.6%
HD Home Depot Inc. 0.25% 2,845 $1.2M Reduce -0.5%
QQQM Invesco Nasdaq 100 ETF 0.24% 4,474 $1.1M Add +11.7%
TDIV FT Nasdaq Tech DVD Index FD 0.24% 11,148 $1.1M Reduce -1.1%
SBUX Starbucks Corp. 0.22% 11,733 $993K Reduce -3.2%
PCAR Paccar Inc. 0.20% 9,374 $922K Add +0.2%
META Meta Platforms Inc. Class A 0.19% 1,164 $855K Reduce -4.8%
BRK.A Berkshire Hathaway Inc. Class A 0.17% 1 $754K No change
DFEB FT Vest U.S. Equity Deep Buf 0.16% 15,768 $734K No change
AVGO Broadcom Inc. 0.16% 2,137 $705K Add +5.1%
GMAR FT Vest US Equity Moderate B 0.14% 16,039 $643K No change
DFUS Dimensional US Eq MKT ETF 0.14% 8,547 $619K No change
ABBV Abbvie Inc. 0.13% 2,635 $610K Reduce -2.5%
AMD Advanced Micro Devices 0.13% 3,743 $606K Add +5.9%
GAPR FT Vest US Equity Moderate B 0.13% 15,173 $595K No change
DVY iShares Select Dividend ETF 0.13% 4,155 $590K Reduce -0.5%
XMPT Vaneck Cef Muni Income ETF 0.13% 26,756 $586K Reduce -0.0%
CSCO Cisco Systems Inc. 0.13% 8,310 $569K Add +0.2%
EPRF Innovat S&P Invest GRD Pref 0.12% 30,065 $550K Reduce -0.0%
PFFD Global X US Preferred ETF 0.12% 28,151 $547K Add +0.0%
HWM Howmet Aerospace Inc. 0.12% 2,749 $539K Add +1.8%
GDEC FT Vest US Equity Moderate B 0.12% 14,515 $532K No change
VYM Vanguard High DVD Yield ETF 0.11% 3,645 $514K Reduce -0.6%
FISV Fiserv Inc. 0.11% 3,860 $498K Reduce -0.8%
GLD SPDR Gold Shares 0.11% 1,367 $486K Reduce -2.4%
FELG Fidelity Enh LRG Cap GWTH 0.11% 11,706 $481K No change
CI The Cigna Group 0.11% 1,666 $480K Reduce -1.4%
JPM JPMorgan Chase & Co. 0.11% 1,519 $479K Add +3.4%
VIG Vanguard Dividend Apprec ETF 0.10% 2,146 $463K No change
LMT Lockheed Martin Corp. 0.09% 834 $416K No change
UNP Union Pacific Corp. 0.09% 1,752 $414K Reduce -0.1%
ABFL Abacus FCF Leaders ETF 0.09% 5,678 $409K No change
DECM FT Vest US Eq Max Buf Dec 0.08% 11,853 $382K No change
SOXX iShares Semiconductor ETF 0.08% 1,405 $381K Add +16.2%
JULM FT Vest US Eq Max Buf July 0.08% 11,162 $371K Add +69.6%
HYDB iShares High Yield Systemati 0.08% 7,678 $367K Reduce -0.2%
BABA Alibaba Group Holding-SP ADR 0.08% 1,995 $357K No change
PG The Procter & Gamble Co. 0.08% 2,310 $355K Reduce -5.7%
NOVM FT Vest US Eq Max Buf Nov 0.08% 10,880 $350K No change
DLR Digital Realty Trust Inc. 0.08% 1,989 $344K Reduce -0.5%
ADP Automatic Data Processing 0.08% 1,163 $341K Add +1.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.07% 6,527 $337K Add +0.9%
V Visa Inc. Class A 0.07% 951 $325K Reduce -1.6%
WFC Wells Fargo & Co. 0.07% 3,862 $324K Add +0.8%
MCD McDonald's Corp. 0.07% 1,058 $322K Reduce -3.1%
SO The Southern Co. 0.07% 3,389 $321K Add +1.1%
LLY Eli Lilly & Co. 0.07% 395 $301K Add +1.5%
PGX Invesco Preferred ETF 0.06% 24,824 $288K Reduce -0.1%
GJUL FT Vest US Equity Moderate B 0.06% 7,020 $285K No change
GMAY FT Vest U.S. Equity Moderate 0.06% 6,981 $283K No change
GAUG FT Vest US Equity Moderate B 0.06% 7,308 $282K No change
AMAT Applied Materials Inc. 0.06% 1,356 $278K Reduce -0.4%
IDXX Idexx Laboratories Inc. 0.06% 421 $269K Add +1.0%
IJR iShares Core S&P Small-Cap E 0.06% 2,219 $264K Add +0.1%
NEAR iShares SH Dba ETF Usd Inc. 0.06% 5,135 $263K No change
IJH iShares Core S&P Midcap ETF 0.06% 3,991 $260K Add +0.2%
AUGM FT Vest US Eq Max Buf Aug 0.06% 7,717 $260K New
IDV iShares International Select 0.06% 7,015 $256K Reduce -1.9%
TRV The Travelers Cos Inc. 0.06% 910 $254K Reduce -0.2%
MU Micron Technology Inc. 0.06% 1,508 $252K New
CRM Salesforce Inc. 0.06% 1,056 $250K Add +6.1%
WMT Walmart Inc. 0.05% 2,403 $248K Add +4.6%
VEA Vanguard Ftse Developed ETF 0.05% 4,078 $244K Reduce -1.2%
MPC Marathon Petroleum Corp. 0.05% 1,266 $244K No change
JNJ Johnson & Johnson 0.05% 1,282 $238K New
INTC Intel Corp. 0.05% 7,084 $238K New
AFL Aflac Inc. 0.05% 2,102 $235K No change
ORCL Oracle Corp. 0.05% 823 $231K New
ABT Abbott Laboratories 0.05% 1,694 $227K Reduce -1.9%
XOM Exxon Mobil Corp. 0.05% 1,992 $225K New
QCOM Qualcomm Inc. 0.05% 1,304 $217K Add +0.6%
GFEB FT Vest US Equity Moderate B 0.05% 5,305 $215K No change
URI United Rentals Inc. 0.05% 225 $215K New
CENX Century Aluminum Company 0.05% 7,250 $213K New
DES Wisdomtree US Smallcap Divid 0.05% 6,192 $209K New
APXM FT Vest US Eq Max Buf Apr 0.05% 6,704 $206K No change
NEE Nextera Energy Inc. 0.04% 2,685 $203K New
QMAR FT Vest Nasdaq-100 Buffer Et 0.04% 6,250 $201K New
ET Energy Transfer LP 0.04% 11,274 $193K No change
TLRY Tilray Brands Inc. 0.04% 100,000 $173K No change
CRON Cronos Group Inc. 0.03% 50,000 $139K No change
XEVMX Eaton Vance Cal Muni Bond 0.02% 10,894 $103K Add +1.4%
USIO Usio Inc. 0.01% 34,080 $48K No change

Portfolio Sells Q2 2025 → Q3 2025
MSFT Microsoft Corp. Reduce -4.2% 7.44% −0.67
COST Costco Wholesale Corp. Reduce -0.3% 1.17% −0.19
QQQ Invesco QQQ Trust Series 1 Reduce -0.9% 9.83% −0.07
ACWI iShares MSCI Acwi ETF Reduce -5.0% 1.00% −0.07
FIXD First Trust Smith Opportunis Sold out 0.00% −0.06
TLT iShares 20+ Year Treasury BD Sold out 0.00% −0.06
PAYX Paychex Inc. Sold out 0.00% −0.05
FISV Fiserv Inc. Reduce -0.8% 0.11% −0.05
PYPL PayPal Holdings Inc. Sold out 0.00% −0.05
SBUX Starbucks Corp. Reduce -3.2% 0.22% −0.05
AMZN Amazon.com Inc. Reduce -1.9% 0.44% −0.05
SILA Sila Realty Trust Inc. Reduce -0.9% 1.05% −0.04
IVW iShares S&P 500 Growth ETF Reduce -4.5% 0.83% −0.03
CI The Cigna Group Reduce -1.4% 0.11% −0.03
BA The Boeing Co. Reduce -1.3% 0.40% −0.03
META Meta Platforms Inc. Class A Reduce -4.8% 0.19% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.5% 0.72% −0.03
PG The Procter & Gamble Co. Reduce -5.7% 0.08% −0.02
V Visa Inc. Class A Reduce -1.6% 0.07% −0.01
DLR Digital Realty Trust Inc. Reduce -0.5% 0.08% −0.01
HYDB iShares High Yield Systemati Reduce -0.2% 0.08% −0.01
ABT Abbott Laboratories Reduce -1.9% 0.05% −0.01
EPRF Innovat S&P Invest GRD Pref Reduce -0.0% 0.12% −0.01
MCD McDonald's Corp. Reduce -3.1% 0.07% −0.01
XLG Invesco S&P 500 Top 50 ETF Reduce -3.6% 0.26% −0.01
XMPT Vaneck Cef Muni Income ETF Reduce -0.0% 0.13% −0.01
UNP Union Pacific Corp. Reduce -0.1% 0.09% −0.01
VOO Vanguard S&P 500 ETF Reduce -0.6% 0.35% −0.00
VYM Vanguard High DVD Yield ETF Reduce -0.6% 0.11% −0.00
PGX Invesco Preferred ETF Reduce -0.1% 0.06% −0.00
DVY iShares Select Dividend ETF Reduce -0.5% 0.13% −0.00
IDV iShares International Select Reduce -1.9% 0.06% −0.00
TRV The Travelers Cos Inc. Reduce -0.2% 0.06% −0.00
VEA Vanguard Ftse Developed ETF Reduce -1.2% 0.05% −0.00
TDIV FT Nasdaq Tech DVD Index FD Reduce -1.1% 0.24% −0.00
AMAT Applied Materials Inc. Reduce -0.4% 0.06% +0.00
HD Home Depot Inc. Reduce -0.5% 0.25% +0.00
GLD SPDR Gold Shares Reduce -2.4% 0.11% +0.00
ABBV Abbvie Inc. Reduce -2.5% 0.13% +0.01
TSLA Tesla Inc. Reduce -3.8% 0.32% +0.06
SMH Vaneck Semiconductor ETF Reduce -0.4% 1.93% +0.13
QTUM Defiance Quantum ETF Reduce -0.1% 3.71% +0.18
AAPL Apple Inc. Reduce -0.2% 2.18% +0.27

Portfolio Buys Q2 2025 → Q3 2025
XBI SS SPDR S&P Biotech ETF Add +2.3% 2.84% +0.34
AIQ Global X Art Intel & Tech Add +0.5% 3.48% +0.15
GOOGL Alphabet Inc. Class A Add +0.7% 0.44% +0.09
DYNF Ishrs US E F R A ETF-Usd Inc. Add +1.4% 6.39% +0.09
NVDA Nvidia Corp. Add +4.3% 0.66% +0.08
IVV iShares Core S&P 500 ETF Add +1.4% 13.32% +0.07
IEMG iShares Core MSCI Emerging Add +2.9% 1.77% +0.07
GOOG Alphabet Inc. Class C Add +2.0% 0.27% +0.06
AUGM FT Vest US Eq Max Buf Aug New 0.06% +0.06
MU Micron Technology Inc. New 0.06% +0.06
INTC Intel Corp. New 0.05% +0.05
JNJ Johnson & Johnson New 0.05% +0.05
ORCL Oracle Corp. New 0.05% +0.05
XOM Exxon Mobil Corp. New 0.05% +0.05
SECT Main Sector Rotation ETF Add +1.0% 5.97% +0.05
URI United Rentals Inc. New 0.05% +0.05
CENX Century Aluminum Company New 0.05% +0.05
DES Wisdomtree US Smallcap Divid New 0.05% +0.05
NEE Nextera Energy Inc. New 0.04% +0.04
QMAR FT Vest Nasdaq-100 Buffer Et New 0.04% +0.04
JULM FT Vest US Eq Max Buf July Add +69.6% 0.08% +0.03
QQQM Invesco Nasdaq 100 ETF Add +11.7% 0.24% +0.03
AVGO Broadcom Inc. Add +5.1% 0.16% +0.02
SOXX iShares Semiconductor ETF Add +16.2% 0.08% +0.01
AMD Advanced Micro Devices Add +5.9% 0.13% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +1.7% 2.37% +0.01
IDXX Idexx Laboratories Inc. Add +1.0% 0.06% +0.01
JPM JPMorgan Chase & Co. Add +3.4% 0.11% +0.00
CVX Chevron Corp. Add +0.8% 0.31% +0.00
BAC Bank of America Corp. Add +0.9% 0.07% +0.00
WMT Walmart Inc. Add +4.6% 0.05% +0.00
IJR iShares Core S&P Small-Cap E Add +0.1% 0.06% +0.00
XEVMX Eaton Vance Cal Muni Bond Add +1.4% 0.02% −0.00
HWM Howmet Aerospace Inc. Add +1.8% 0.12% −0.00
QCOM Qualcomm Inc. Add +0.6% 0.05% −0.00
IJH iShares Core S&P Midcap ETF Add +0.2% 0.06% −0.00
VTI VG Morningstar TS MKT ETF-US Add +0.4% 0.85% −0.00
WFC Wells Fargo & Co. Add +0.8% 0.07% −0.00
SO The Southern Co. Add +1.1% 0.07% −0.00
LLY Eli Lilly & Co. Add +1.5% 0.07% −0.01
PFFD Global X US Preferred ETF Add +0.0% 0.12% −0.01
XMHQ Invesco S&P Midcap Qual ETF Add +1.4% 2.73% −0.01
ADP Automatic Data Processing Add +1.3% 0.08% −0.01
PCAR Paccar Inc. Add +0.2% 0.20% −0.01
CRM Salesforce Inc. Add +6.1% 0.06% −0.01
CSCO Cisco Systems Inc. Add +0.2% 0.13% −0.01
AGG iShares Core U.S. Aggregate Add +4.5% 0.70% −0.02
ACWX iShares MSCI Acwi Ex US ETF Add +1.0% 2.80% −0.03
BUFR FT Vest Lad Buffervetf-Usd I Add +1.6% 1.56% −0.03
BRK.B Berkshire Hathaway Inc. Class B Add +0.0% 0.70% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 143$542.6MIVV, QQQ, DYNF, QTUM, ACWX
Q1 2026 123$456.9MIVV, QQQ, DYNF, ACWX, BND
Q4 2025 128$468.0MIVV, QQQ, DYNF, MSFT, SECT
Q3 2025 121$453.3MIVV, QQQ, MSFT, DYNF, SECT
Q2 2025 114$417.0MIVV, QQQ, MSFT, DYNF, SECT
Q1 2025 109$363.7MIVV, QQQ, MSFT, DYNF, SECT
Q4 2024 110$367.2MQQQ, IVV, FV, SECT, MSFT
Q3 2024 113$359.8MQQQ, SECT, FV, IVV, MSFT
Q2 2024 100$325.5MQQQ, SECT, FV, MSFT, IVV
Q1 2024 99$287.2MFV, SECT, IVV, QQQ, MSFT