SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Empirical Financial Services, LLC d.b.a. Empirical Wealth Management

CIK 0001510434 · 1420 5TH AVE SUITE 3150, SEATTLE, WA, 98101 · 2069233474

Reported Value
$826M
Q3 2019
Positions
286
Filings on Record
30
2019–present window
Filed
Nov 13, 2019
original filing

Summary

Empirical Financial Services, LLC D.b.a. Empirical Wealth Management reported $826M in U.S.-listed holdings across 286 positions for Q3 2019.

Its largest position, Vanguard Scottsdale Fds, represents 14.9% of the portfolio.

Compared with Q2 2019, the fund opened 37 new positions and exited 20.

Portfolio Metrics

Turnover
+3.5%
vs prior filed quarter
Top-10 Concentration
+52.0%
share of reported value
Largest Position
+14.9%
Vanguard Scottsdale Fds
New / Exited
37 / 20
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $589MQ4 ’18Q1 ’19: $687MQ2 ’19: $768MQ3 ’19: $826MQ4 ’19: $910MQ4 ’19Q1 ’20: $915MQ2 ’20: $1.1BQ3 ’20: $1.2BQ4 ’20: $1.3BQ4 ’20Q1 ’21: $1.2BQ2 ’21: $1.7BQ3 ’21: $1.8BQ4 ’21: $2.0BQ4 ’21Q1 ’22: $2.0BQ2 ’22: $1.9BQ3 ’22: $1.9BQ4 ’22: $2.1BQ4 ’22Q1 ’23: $2.3BQ2 ’23: $2.5BQ3 ’23: $2.6BQ4 ’23: $3.0BQ4 ’23Q1 ’24: $3.3BQ2 ’24: $3.4BQ3 ’24: $3.6BQ4 ’24: $3.7BQ4 ’24Q1 ’25: $3.9BQ2 ’25: $4.4BQ3 ’25: $5.0BQ4 ’25: $5.6BQ4 ’25Q1 ’26: $5.8Bfilingsflow.com

Portfolio Composition

By security type
ETP: 78.4%Common Stock: 20.0%Other: 0.9%REIT: 0.4%ADR: 0.1%Other: 0.2%
  • ETP · 78.4% · $648M
  • Common Stock · 20.0% · $165M
  • Other · 0.9% · $7M
  • REIT · 0.4% · $3M
  • ADR · 0.1% · $937,000
  • Other · 0.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VGSHVANGUARD SCOTTSDALE FDSNEW+141.9K141.9K+$9M$9M
SHWSHERWIN WILLIAMS CONEW+4.6K4.6K+$3M$3M
LVSLAS VEGAS SANDS CORPNEW+24.0K24.0K+$1M$1M
ISHARES TRNEW+20.6K20.6K+$772,000$772,000
SPWRQSUNPOWER CORPNEW+55.4K55.4K+$608,000$608,000
SCHWAB STRATEGIC TRNEW+12.5K12.5K+$591,000$591,000
ISHARES TRNEW+8.2K8.2K+$504,000$504,000
SYKSTRYKER CORPNEW+2.3K2.3K+$491,000$491,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2019

30 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VGSHVANGUARD SCOTTSDALE FDSSHRT TRM CORP BD · INT-TERM CORP · SHORT TERM TREAS25.22%$208M2.50M
2VANGUARD MALVERN FDSSTRM INFPROIDX8.82%$73M1.48M
3ISHARES TR1 3 YR TREAS BD · NATIONAL MUN ETF · USA QUALITY FCTR · MICRO-CAP ETF · INTL QLTY FACTOR · EAFE VALUE ETF7.66%$63M884.9K
4SPDR SERIES TRUSTBLOOMBERG SRT TR · NUV HGHYLD MUN · NUVEEN BLMBRG SR6.54%$54M1.57M
5VTVVANGUARD INDEX FDSREAL ESTATE ETF · LARGE CAP ETF · TOTAL STK MKT · VALUE ETF · SM CP VAL ETF5.45%$45M410.8K
6ISHARES INCCORE MSCI EMKT · MSCI FRNTR100ETF4.04%$33M722.3K
7SCHWAB STRATEGIC TRUS LRG CAP ETF · INTL SCEQT ETF · US AGGREGATE B · EMRG MKTEQ ETF3.33%$27M642.8K
8FIRST TR EXCHANGE-TRADED FDPFD SECS INC ETF · SENIOR LN FD1.69%$14M599.8K
9MSFTMICROSOFT CORPhistory →COM1.63%$13M96.7K
10AAPLAPPLE INChistory →COM1.48%$12M54.7K
11SPDR S&P 500 ETF TRTR UNIT1.41%$12M39.4K
12AMZNAMAZON COM INChistory →COM1.22%$10M5.8K
13VANGUARD INTL EQUITY INDEX FGLB EX US ETF · FTSE SMCAP ETF1.04%$9M116.0K
14RSRELIANCE STEEL & ALUMINUM COCOM0.73%$6M60.8K
15BABOEING COCOM0.73%$6M15.9K
16INTCINTEL CORPCOM0.68%$6M109.5K
17USBUS BANCORP DELCOM NEW0.64%$5M95.1K
18VVISA INCCOM CL A0.58%$5M27.9K
19VANGUARD WHITEHALL FDS INCHIGH DIV YLD0.54%$4M49.8K
20SPDR INDEX SHS FDSS&P INTL ETF0.53%$4M111.8K
21FIRST TR EXCH TRD ALPHA FD IEMERG MKT ALPH0.50%$4M175.5K
22COSTCOSTCO WHSL CORP NEWCOM0.50%$4M14.2K
23ISHARES US ETF TRCOMMOD SEL STG0.45%$4M116.9K
24CHVCHEVRON CORP NEWCOM0.39%$3M26.9K
25VANGUARD TAX MANAGED INTL FDFTSE DEV MKT ETF0.37%$3M74.6K
26TDYTELEDYNE TECHNOLOGIES INCCOM0.35%$3M9.1K
27VANGUARD BD INDEX FD INCSHORT TRM BOND0.34%$3M35.1K
28SBUXSTARBUCKS CORPCOM0.33%$3M30.4K
29NVDANVIDIA CORPCOM0.32%$3M15.4K
30SHWSHERWIN WILLIAMS COCOM0.30%$3M4.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$5.8B1,706May 4, 202613F-HRchanges · EDGAR ↗
Q4 2025$5.6B1,378Jan 16, 202613F-HRchanges · EDGAR ↗
Q3 2025$5.0B1,170Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.4B984Jul 21, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.9B825May 8, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.7B698Jan 22, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.6B570Nov 1, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.4B562Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.3B530May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.0B498Feb 6, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.6B465Nov 3, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.5B460Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.3B463May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.1B459Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.9B467Nov 3, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.9B463Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.0B493May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.0B517Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.8B451Nov 2, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.7B443Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.2B393May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.3B381Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.2B345Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.1B331Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$915M320May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$910M329Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$826M286Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$768M267Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$687M235May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$589M200Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.