Empirical Financial Services, LLC d.b.a. Empirical Wealth Management Q4 2025 Filing

Filed January 16, 2026

Portfolio Value

$5.6B

Holdings

891

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (891 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NVDANVIDIA CORPORATION	1,959,881	$365.5M	6.51%	Put
2	QUALISHARES TR	1,764,425	$350.4M	6.24%
3	IQLTISHARES TR	6,444,572	$292.9M	5.22%
4	MTUMISHARES TR	974,177	$243.8M	4.34%
5	VTIPVANGUARD MALVERN FDS	4,653,452	$230.2M	4.10%
6	VCSHVANGUARD SCOTTSDALE FDS	2,429,096	$193.7M	3.45%
7	AAPLAPPLE INC	621,346	$168.9M	3.01%	Put
8	DFUVDIMENSIONAL ETF TRUST	3,058,248	$142.5M	2.54%
9	EFVISHARES TR	1,928,740	$137.7M	2.45%
10	IEMGISHARES INC	1,941,744	$130.5M	2.32%
11	VCITVANGUARD SCOTTSDALE FDS	1,370,668	$114.8M	2.04%
12	MSFTMICROSOFT CORP	229,603	$111.0M	1.98%
13	DFIVDIMENSIONAL ETF TRUST	1,807,792	$90.2M	1.61%
14	SJNKSPDR SERIES TRUST	3,522,304	$89.2M	1.59%
15	AMZNAMAZON COM INC	295,078	$68.1M	1.21%
16	VTVVANGUARD INDEX FDS	342,402	$65.4M	1.16%
17	VGSHVANGUARD SCOTTSDALE FDS	1,106,747	$65.0M	1.16%
18	AVDVAMERICAN CENTY ETF TR	612,414	$57.5M	1.02%
19	VEAVANGUARD TAX-MANAGED FDS	908,989	$56.8M	1.01%
20	DFATDIMENSIONAL ETF TRUST	918,385	$54.7M	0.97%
21	GOOGALPHABET INC	151,433	$47.5M	0.85%
22	QGRWWISDOMTREE TR	723,464	$42.4M	0.76%
23	AVUVAMERICAN CENTY ETF TR	394,769	$40.3M	0.72%
24	VNQVANGUARD INDEX FDS	429,304	$38.0M	0.68%
25	CSCOCISCO SYS INC	463,944	$35.7M	0.64%
26	SCHCSCHWAB STRATEGIC TR	777,154	$35.4M	0.63%
27	TSLATESLA INC	77,747	$35.0M	0.62%
28	AVGOBROADCOM INC	95,793	$33.2M	0.59%	Put
29	SCHXSCHWAB STRATEGIC TR	1,130,533	$30.4M	0.54%
30	VSSVANGUARD INTL EQUITY INDEX F	211,317	$30.3M	0.54%
31	DFACDIMENSIONAL ETF TRUST	715,356	$28.3M	0.50%
32	VBRVANGUARD INDEX FDS	130,954	$27.7M	0.49%
33	SCHFSCHWAB STRATEGIC TR	1,152,306	$27.7M	0.49%
34	VTIVANGUARD INDEX FDS	80,459	$27.0M	0.48%
35	ESGDISHARES TR	282,078	$26.8M	0.48%
36	JPMJPMORGAN CHASE & CO.	81,399	$26.2M	0.47%
37	DUHPDIMENSIONAL ETF TRUST	669,656	$25.5M	0.45%
38	GOOGLALPHABET INC	77,360	$24.2M	0.43%
39	IWCISHARES TR	146,016	$23.0M	0.41%
40	DFASDIMENSIONAL ETF TRUST	323,700	$22.6M	0.40%
41	XFEBFIRST TR EXCH TRADED FD III	1,187,858	$21.6M	0.39%
42	MGCVANGUARD WORLD FD	85,758	$21.5M	0.38%
43	MGKVANGUARD WORLD FD	49,576	$20.5M	0.36%
44	VFMOVANGUARD WELLINGTON FD	106,121	$20.3M	0.36%
45	MOALTRIA GROUP INC	344,671	$19.9M	0.35%
46	WMTWALMART INC	176,554	$19.7M	0.35%
47	VNQIVANGUARD INTL EQUITY INDEX F	418,381	$19.2M	0.34%
48	BKBANK NEW YORK MELLON CORP	162,971	$18.9M	0.34%
49	EFGISHARES TR	163,118	$18.6M	0.33%
50	NULVNUSHARES ETF TR	409,247	$18.4M	0.33%
51	STIPISHARES TR	173,830	$17.8M	0.32%
52	JNJJOHNSON & JOHNSON	84,003	$17.4M	0.31%
53	VVVANGUARD INDEX FDS	53,246	$16.8M	0.30%
54	MGVVANGUARD WORLD FD	118,512	$16.7M	0.30%
55	FPFFIRST TR EXCH TRD ALPHDX FD	605,433	$16.6M	0.29%
56	OZBELPOINTE PREP LLC	248,081	$16.1M	0.29%
57	IBMINTERNATIONAL BUSINESS MACHS	53,798	$15.9M	0.28%
58	VWOVANGUARD INTL EQUITY INDEX F	292,666	$15.7M	0.28%
59	SCHESCHWAB STRATEGIC TR	467,279	$15.3M	0.27%
60	IJRISHARES TR	126,408	$15.2M	0.27%
61	SCHASCHWAB STRATEGIC TR	513,395	$14.6M	0.26%
62	HYMBSPDR SERIES TRUST	585,312	$14.6M	0.26%
63	4I1PHILIP MORRIS INTL INC	87,615	$14.1M	0.25%
64	VBVANGUARD INDEX FDS	53,725	$13.9M	0.25%
65	ADPAUTOMATIC DATA PROCESSING IN	50,376	$13.0M	0.23%
66	VVISA INC	35,452	$12.4M	0.22%
67	VOEVANGUARD INDEX FDS	70,003	$12.4M	0.22%
68	ESMLISHARES TR	267,772	$12.3M	0.22%
69	ESGEISHARES INC	277,903	$12.3M	0.22%
70	EWXSPDR INDEX SHS FDS	183,078	$12.0M	0.21%
71	SCHWSCHWAB CHARLES CORP	119,535	$11.9M	0.21%
72	AMDADVANCED MICRO DEVICES INC	55,112	$11.8M	0.21%
73	GLWCORNING INC	133,676	$11.7M	0.21%
74	LRCXLAM RESEARCH CORP	67,776	$11.6M	0.21%
75	SCHVSCHWAB STRATEGIC TR	383,747	$11.4M	0.20%
76	EBIRBB FUND TRUST	198,399	$11.2M	0.20%
77	PWRQUANTA SVCS INC	26,484	$11.2M	0.20%
78	XOMEXXON MOBIL CORP	92,113	$11.1M	0.20%
79	ORCLORACLE CORP	56,553	$11.0M	0.20%
80	TAT&T INC	435,024	$10.8M	0.19%
81	NUMVNUSHARES ETF TR	271,862	$10.6M	0.19%
82	VYMVANGUARD WHITEHALL FDS	73,970	$10.6M	0.19%
83	DELLDELL TECHNOLOGIES INC	83,452	$10.5M	0.19%
84	NFLXNETFLIX INC	112,013	$10.5M	0.19%
85	GILDGILEAD SCIENCES INC	84,484	$10.4M	0.18%
86	VOTVANGUARD INDEX FDS	35,940	$10.0M	0.18%
87	ADBEADOBE INC	28,148	$9.9M	0.18%
88	ADIANALOG DEVICES INC	35,469	$9.6M	0.17%
89	DWXSPDR INDEX SHS FDS	216,919	$9.5M	0.17%
90	ESGUISHARES TR	62,473	$9.3M	0.17%
91	TJXTJX COS INC NEW	59,786	$9.2M	0.16%
92	FNDFSCHWAB STRATEGIC TR	197,812	$8.9M	0.16%
93	MUMICRON TECHNOLOGY INC	29,621	$8.5M	0.15%
94	WDCWESTERN DIGITAL CORP	48,461	$8.3M	0.15%
95	RTXRTX CORPORATION	45,472	$8.3M	0.15%
96	ABBVABBVIE INC	36,207	$8.3M	0.15%
97	CVXCHEVRON CORP NEW	53,944	$8.2M	0.15%
98	FTSLFIRST TR EXCHANGE-TRADED FD	178,471	$8.2M	0.15%
99	UALUNITED AIRLS HLDGS INC	72,785	$8.1M	0.14%
100	TXNTEXAS INSTRS INC	44,929	$7.8M	0.14%

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