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Empirical Financial Services, LLC d.b.a. Empirical Wealth Management 13F Filings & Institutional Holdings (Q2 2026)
Empirical Financial Services, LLC d.b.a. Empirical Wealth ManagementCIK: 0001510434
Diversified strategySector-focusedLong-term holder
Total reported value
$6.9B
Reporting period: 2026-06-30 · Number of holdings: 1876
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management disclosed 1876 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $6.9B and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 8.34
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 86.36
- Diversification
- 100
- Sizing Uniformity
- 54.35
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management's disclosed holdings carry a Herfindahl concentration index of 0.021 — mathematically equivalent to about 48 equally-sized positions, well below its 1876 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.57), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 36% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MTUM
-3.0% $88.9M
Trim VTIP
+5.2% $14.2M
Trim VCSH
+5.1% $10.3M
Add MU
-1.2% $26.0M
Add DELL
-3.1% $21.8M
Add AMD
-3.5% $19.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 1876 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.36% | -0.05% | +2.45% | |
| 2 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 5.75% | -0.11% | +1.57% | |
| 3 | IQLT | Ishares Msci International Q | ETF-Other | 5.71% | +0.24% | +15.37% | |
| 4 | MTUM | Ishares Msci USA Momentum Fa | ETF-Other | 4.66% | +0.68% | -3.00% | |
| 5 | VTIP | Vanguard Short-term Tips | ETF-Other | 3.77% | -0.45% | +5.22% | |
| 6 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 3.32% | -0.43% | +5.07% | |
| 7 | DFUV | Dimensional US Marketwide Va | ETF-Other | 2.69% | +0.01% | +5.03% | |
| 8 | AAPL | Apple Inc | Stock-Tech | 2.62% | -0.07% | +1.36% | |
| 9 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 2.45% | +0.06% | +2.21% | |
| 10 | EFV | Ishares Msci Eafe Value ETF | ETF-Other | 2.38% | -0.20% | +6.25% | |
| 11 | VCIT | Vanguard Int-term Corporate | ETF-Corp Bonds | 1.75% | -0.24% | +4.54% | |
| 12 | DFIV | Dimensional International Va | ETF-Other | 1.45% | -0.18% | +2.82% | |
| 13 | MSFT | Microsoft CORP | Stock-Tech | 1.25% | -0.16% | +3.97% | |
| 14 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.14% | +0.05% | +8.26% | |
| 15 | QGRW | Wisdomtree US Quality Growth | ETF-Other | 1.12% | +0.18% | +13.63% | |
| 16 | DFMC | US Micro Cap Portfolio ETF | ETF-Other | 1.10% | +0.09% | +7.27% | |
| 17 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.10% | +0.04% | +6.54% | |
| 18 | VTV | Vanguard Value ETF | ETF-Other | 1.07% | -0.08% | -1.14% | |
| 19 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 1.03% | -0.13% | +5.46% | |
| 20 | AVDV | Avantis Intl S/c Value ETF | ETF-Other | 1.00% | -0.09% | +5.29% | |
| 21 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.95% | +0.10% | +8.09% | |
| 22 | DFAT | Dimensional US Target Value | ETF-Other | 0.94% | -0.05% | +0.95% | |
| 23 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.94% | -0.06% | +0.07% | |
| 24 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.90% | -0.15% | +3.32% | |
| 25 | CSCO | Cisco Systems Inc | Stock-Tech | 0.82% | +0.18% | +1.12% | |
| 26 | AVUV | Avantis US Small Cap Value | ETF-Small Cap | 0.81% | +0.02% | +7.21% | |
| 27 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.68% | -0.02% | +5.36% | |
| 28 | SCHC | Schwab Intl Small-cap Equity | ETF-Other | 0.67% | -0.02% | +11.00% | |
| 29 | AVGO | Broadcom Inc | Stock-Tech | 0.59% | +0.05% | +6.66% | |
| 30 | MU | Micron Technology Inc | Stock-Tech | 0.54% | +0.35% | -1.16% | |
| 31 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.53% | +0.02% | +8.54% | |
| 32 | DELL | Dell Technologies -c | Stock-Tech | 0.52% | +0.28% | -3.06% | |
| 33 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.50% | +0.02% | +9.79% | |
| 34 | SJNK | Ss Spdr Bb St Hi Yield ETF | ETF-Other | 0.48% | -0.16% | -11.63% | |
| 35 | LRCX | Lam Research CORP | Stock-Tech | 0.47% | +0.19% | -2.19% | |
| 36 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.47% | +0.05% | +5.97% | |
| 37 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.47% | +0.04% | +11.75% | |
| 38 | VBR | Vanguard Small-cap Value ETF | ETF-Other | 0.46% | -0.02% | +2.03% | |
| 39 | VSS | Vanguard Ftse All Wo X-us Sc | ETF-Other | 0.46% | -0.06% | -0.45% | |
| 40 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 0.46% | -0.02% | -0.72% | |
| 41 | AMD | Advanced Micro Devices | Stock-Tech | 0.45% | +0.25% | -3.54% | |
| 42 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.45% | -0.02% | +0.08% | |
| 43 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.43% | -0.01% | +4.32% | |
| 44 | ESGD | Ishares Trust Ishares Esg Aw | ETF-Other | 0.42% | -0.05% | +0.14% | |
| 45 | DUHP | Dimensional US High Profi Et | ETF-Other | 0.42% | -0.01% | +2.01% | |
| 46 | IWC | Ishares Micro-cap ETF | ETF-Other | 0.41% | +0.02% | +0.05% | |
| 47 | MO | Altria Group Inc | Stock-Consumer Staples | 0.39% | -0.02% | +3.49% | |
| 48 | MGC | Vanguard Mega Cap ETF | ETF-Other | 0.39% | +0.02% | +9.06% | |
| 49 | DFAS | Dimensional US Small Cap ETF | ETF-Small Cap | 0.38% | -0.01% | +0.02% | |
| 50 | WDC | Western Digital CORP | Stock-Tech | 0.38% | +0.17% | -9.36% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.1%
Performance Last 4 Quarters
+21%
- Stdev
- +10.4%
- Beta
- +0.77
- Alpha
- +1.4%
- Max Drawdown
- -4.7%
- Annualized Perf
- +17.5%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +3.37
- Stutzer
- +0.47
- Treynor
- +0.22
- Sterling
- +1.25
- Calmar
- +3.7
- Information Ratio
- -0.74
- Tracking Error
- +4.4%
- Stdev Down
- +5%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +28.2%
- Worst 12 Months
- +6.3%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.61
- Stdev Sectors
- +13.4%
- Skewness
- +0.01
- Kurtosis
- -0.1
- Upside Potential
- +4.93
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 1876 | $6.9B | 0 | ||
| 2026 Q1 | 1706 | $5.8B | 13 | ||
| 2025 Q4 | 1378 | $5.6B | 18 | ||
| 2025 Q3 | 1170 | $5.0B | 31 | ||
| 2025 Q2 | 984 | $4.4B | 0 | ||
| 2025 Q1 | 825 | $3.9B | 100 | ||
| 2024 Q4 | 698 | $3.7B | 0 | ||
| 2024 Q3 | 570 | $3.6B | 0 | ||
| 2024 Q2 | 562 | $3.4B | 0 | ||
| 2024 Q1 | 530 | $3.3B | 0 | ||
| 2023 Q4 | 498 | $3.0B | 0 | ||
| 2023 Q3 | 465 | $2.6B | 0 | ||
| 2023 Q2 | 460 | $2.5B | 0 | ||
| 2023 Q1 | 463 | $2.3B | 0 | ||
| 2022 Q4 | 459 | $2.1B | 0 | ||
| 2022 Q3 | 467 | $1.9B | 0 | ||
| 2022 Q2 | 463 | $1.9B | 0 | ||
| 2022 Q1 | 493 | $2.0B | 0 | ||
| 2021 Q4 | 517 | $2.0B | 0 | ||
| 2021 Q3 | 451 | $1.8B | 0 | ||
| 2021 Q2 | 443 | $1.7B | 100 | ||
| 2021 Q1 | 393 | $1.2B | 19 | ||
| 2020 Q4 | 381 | $1.3B | 19 | ||
| 2020 Q3 | 345 | $1.2B | 13 | ||
| 2020 Q2 | 331 | $1.1B | 20 | ||
| 2020 Q1 | 320 | $914.8M | 29 | ||
| 2019 Q4 | 329 | $910.0M | 20 | ||
| 2019 Q3 | 286 | $825.9M | 14 | ||
| 2019 Q2 | 267 | $767.7M | 14 | ||
| 2019 Q1 | 235 | $687.3M | 17 | ||
| 2018 Q4 | 200 | $588.7M | 19 | ||
| 2018 Q3 | 214 | $564.2M | 11 | ||
| 2018 Q2 | 185 | $534.1M | 18 | ||
| 2018 Q1 | 202 | $507.0M | 13 | ||
| 2017 Q4 | 151 | $466.3M | 11 | ||
| 2017 Q3 | 139 | $433.4M | 6 | ||
| 2017 Q2 | 130 | $410.8M | 7 | ||
| 2017 Q1 | 129 | $401.3M | 11 | ||
| 2016 Q4 | 123 | $407.4M | 12 | ||
| 2016 Q3 | 109 | $382.9M | 10 | ||
| 2016 Q2 | 107 | $380.8M | 15 | ||
| 2016 Q1 | 104 | $413.5M | 11 | ||
| 2015 Q4 | 104 | $411.0M | 13 | ||
| 2015 Q3 | 112 | $423.6M | 10 | ||
| 2015 Q2 | 113 | $430.3M | 9 | ||
| 2015 Q1 | 99 | $417.0M | 8 | ||
| 2014 Q4 | 100 | $409.4M | 15 | ||
| 2014 Q3 | 104 | $413.5M | 15 | ||
| 2014 Q2 | 101 | $403.4M | 11 | ||
| 2014 Q1 | 98 | $379.7M | 10 | ||
| 2013 Q4 | 93 | $353.6M | 15 | ||
| 2013 Q3 | 88 | $319.7M | 10 | ||
| 2013 Q2 | 82 | $300.0M | — |
Holding changes this quarter
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management's most significant position changes for 2026-06-30: New buy: Columbia Banking System Inc (COLB); Sold out: Honeywell International Inc (HON); New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Invesco S&p 500 Quality ETF (SPHQ).
Showing top 200 changes by size (of 1102 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MTUM | Ishares Msci USA Momentum Fa | +0.7% | -3.00% | Trim |
| 2 | MU | Micron Technology Inc | +0.4% | -1.16% | Trim |
| 3 | DELL | Dell Technologies -c | +0.3% | -3.06% | Trim |
| 4 | AMD | Advanced Micro Devices | +0.3% | -3.54% | Trim |
| 5 | IQLT | Ishares Msci International Q | +0.2% | +15.37% | Add |
| 6 | LRCX | Lam Research CORP | +0.2% | -2.19% | Trim |
| 7 | QGRW | Wisdomtree US Quality Growth | +0.2% | +13.63% | Add |
| 8 | CSCO | Cisco Systems Inc | +0.2% | +1.12% | Add |
| 9 | WDC | Western Digital CORP | +0.2% | -9.36% | Trim |
| 10 | AMAT | Applied Materials Inc | +0.1% | +3.60% | Add |
| 11 | INTC | Intel CORP | +0.1% | -5.86% | Trim |
| 12 | GLW | Corning Inc | +0.1% | -8.50% | Trim |
| 13 | GOOG | Alphabet Inc-cl C | +0.1% | +8.09% | Add |
| 14 | DFMC | US Micro Cap Portfolio ETF | +0.1% | +7.27% | Add |
| 15 | HPE | Hewlett Packard Enterprise | +0.1% | +1.80% | Add |
| 16 | COLB | Columbia Banking System Inc | +0.1% | NEW | New buy |
| 17 | IEMG | Ishares Core Msci Emerging | +0.1% | +2.21% | Add |
| 18 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | +10.88% | Add |
| 19 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +8.26% | Add |
| 20 | AVGO | Broadcom Inc | +0.1% | +6.66% | Add |
| 21 | GOOGL | Alphabet Inc-cl A | +0.1% | +5.97% | Add |
| 22 | CAT | Caterpillar Inc | +0.1% | -1.33% | Trim |
| 23 | AMZN | Amazon.com Inc | 0% | +6.54% | Add |
| 24 | VTI | Vanguard Total Stock Mkt ETF | 0% | +11.75% | Add |
| 25 | MGK | Vanguard Mega Cap Growth ETF | 0% | +445.28% | Add |
| 26 | LLY | Eli Lilly & Co | 0% | +3.97% | Add |
| 27 | UAL | United Airlines Holdings Inc | 0% | +7.23% | Add |
| 28 | ANET | Arista Networks Inc | 0% | +29.51% | Add |
| 29 | IWM | Ishares Russell 2000 ETF | 0% | +100.37% | Add |
| 30 | ACMR | Acm Research Inc-class A | 0% | +41.52% | Add |
| 31 | KLAC | Kla CORP | 0% | +971.74% | Add |
| 32 | SANM | Sanmina CORP | 0% | +10.47% | Add |
| 33 | CMI | Cummins Inc | 0% | -2.30% | Trim |
| 34 | IJR | Ishares Core S&p Small-cap E | 0% | +9.46% | Add |
| 35 | ADP | Automatic Data Processing | 0% | +26.20% | Add |
| 36 | TXN | Texas Instruments Inc | 0% | -3.83% | Trim |
| 37 | PAYX | Paychex Inc | 0% | +39.74% | Add |
| 38 | TSM | Taiwan Semiconductor-sp Adr | 0% | +0.45% | Add |
| 39 | PANW | Palo Alto Networks Inc | 0% | +1.11% | Add |
| 40 | ✓ | Carnival CORP LTD F | 0% | NEW | New buy |
| 41 | AVUV | Avantis US Small Cap Value | 0% | +7.21% | Add |
| 42 | TSLA | Tesla Inc | 0% | +8.54% | Add |
| 43 | SCHF | Schwab Intl Equity ETF | 0% | +9.79% | Add |
| 44 | IWC | Ishares Micro-cap ETF | 0% | +0.05% | Add |
| 45 | MGC | Vanguard Mega Cap ETF | 0% | +9.06% | Add |
| 46 | BNY | Bank Of New York Mellon CORP | 0% | +3.04% | Add |
| 47 | PWR | Quanta Services Inc | 0% | -1.85% | Trim |
| 48 | VOT | Vanguard Mid-cap Growth ETF | 0% | +10.64% | Add |
| 49 | QCOM | Qualcomm Inc | 0% | +7.52% | Add |
| 50 | SPHQ | Invesco S&p 500 Quality ETF | 0% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is Empirical Financial Services, LLC d.b.a. Empirical Wealth Management and what type of investor is it?
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $6.9B, spread across 1876 disclosed positions.
What are Empirical Financial Services, LLC d.b.a. Empirical Wealth Management's largest equity positions?
Based on the latest 13F filing, Empirical Financial Services, LLC d.b.a. Empirical Wealth Management's top holdings by market value are:
1. Nvidia CORP (NVDA) — $435.6M (6.4%)
2. Ishares Msci USA Quality Fac (QUAL) — $393.8M (5.8%)
3. Ishares Msci International Q (IQLT) — $391.0M (5.7%)
4. Ishares Msci USA Momentum Fa (MTUM) — $319.4M (4.7%)
5. Vanguard Short-term Tips (VTIP) — $258.5M (3.8%)
What changes did Empirical Financial Services, LLC d.b.a. Empirical Wealth Management make in its most recent portfolio filing?
In the latest reported quarter, Empirical Financial Services, LLC d.b.a. Empirical Wealth Management made 198 notable position adjustments: 11 new positions were initiated, 136 existing holdings were added to, 47 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Columbia Banking System Inc (COLB); Sold out: Honeywell International Inc (HON); New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Invesco S&p 500 Quality ETF (SPHQ)
What sectors does Empirical Financial Services, LLC d.b.a. Empirical Wealth Management focus on?
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 50.4%
• Financials: 8.8%
• Consumer Discretionary: 8.2%
• Industrials: 8.1%
• Communication Services: 8.0%
• Health Care: 5.8%
Investment Profile
Empirical Financial Services, LLC d.b.a. Empirical Wealth Management returned an annualized 17.5% over the trailing 36 months — outperforming the S&P 500 by 1.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.77 (less volatile than the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 50.4% of the portfolio concentrated in Information Technology.
It has added to its IQLT position over the past two quarters (+$98.1M, now $391.0M), while trimming SJNK over the same stretch (-$56.3M, still holding $32.9M).
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