EMPIRICAL FINANCIAL SERVICES, LLC D.B.A. EMPIRICAL WEALTH MANAGEMENT

Filed: 11/10/2025ACC: 0001085146-25-005977

📋 What this filing means

EMPIRICAL FINANCIAL SERVICES, LLC D.B.A. EMPIRICAL WEALTH MANAGEMENT filed this quarterly 13F‑HR report disclosing 793 equity positions with a total reported market value of $5.00B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

793

Positions

$5.00B

Total AUM (reported)

63.20M

Total Shares

Allocation by class

COM$1.51B30.2%

MSCI USA MMENTM$264.33M5.3%

STRM INFPROIDX$217.74M4.4%

MSCI USA QLT FCT$191.77M3.8%

SHRT TRM CORP BD$186.77M3.7%

MSCI INTL QUALTY$154.13M3.1%

US MKTWIDE VALUE$128.78M2.6%

Portfolio Concentration

Top 3$762.03M15.2%

4–10$1.06B21.2%

11–25$993.68M19.9%

Rest$2.18B43.7%

Top 3 weight

15.2%

Top 10 weight

36.4%

Voting Authority Distribution

Total shares with voting rights: 63.20M

Sole

Full voting authority

58.59M

% of voting shares92.7%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

4.61M

% of voting shares7.3%

Investment Discretion (by position count)

Sole610

Shared0

Other183

Dominant voting typeSole · 92.7% of voting shares

Institutional Holdings793

Rows:

NVIDIA CORPORATION

SOLE

COM

Shares1.50M

TypeSH

Market value$279.96M

5.60%

Sole

1.35M

Shared

0.00

None

153.49K

ISHARES TR

OTR

MSCI USA MMENTM

Shares1.03M

TypeSH

Market value$264.33M

5.29%

Sole

944.07K

Shared

0.00

None

86.65K

VANGUARD MALVERN FDS

SOLE

STRM INFPROIDX

Shares4.30M

TypeSH

Market value$217.74M

4.36%

Sole

4.03M

Shared

0.00

None

267.87K

ISHARES TR

SOLE

MSCI USA QLT FCT

Shares985.96K

TypeSH

Market value$191.77M

3.84%

Sole

914.78K

Shared

0.00

None

71.18K

VANGUARD SCOTTSDALE FDS

OTR

SHRT TRM CORP BD

Shares2.34M

TypeSH

Market value$186.77M

3.74%

Sole

2.08M

Shared

0.00

None

252.57K

ISHARES TR

OTR

MSCI INTL QUALTY

Shares3.49M

TypeSH

Market value$154.13M

3.08%

Sole

3.25M

Shared

0.00

None

238.08K

APPLE INC

SOLE

COM

Shares602.91K

TypeSH

Market value$153.52M

3.07%

Sole

516.74K

Shared

0.00

None

86.18K

DIMENSIONAL ETF TRUST

SOLE

US MKTWIDE VALUE

Shares2.88M

TypeSH

Market value$128.78M

2.58%

Sole

2.58M

Shared

0.00

None

299.17K

ISHARES TR

SOLE

EAFE VALUE ETF

Shares1.87M

TypeSH

Market value$126.93M

2.54%

Sole

1.77M

Shared

0.00

None

105.35K

MICROSOFT CORP

SOLE

COM

Shares227.35K

TypeSH

Market value$117.76M

2.36%

Sole

210.71K

Shared

0.00

None

16.64K

ISHARES INC

SOLE

CORE MSCI EMKT

Shares1.77M

TypeSH

Market value$116.47M

2.33%

Sole

1.64M

Shared

0.00

None

129.17K

VANGUARD SCOTTSDALE FDS

OTR

INT-TERM CORP

Shares1.32M

TypeSH

Market value$111.28M

2.23%

Sole

1.18M

Shared

0.00

None

145.38K

SPDR SERIES TRUST

OTR

BLOOMBERG SHT TE

Shares3.31M

TypeSH

Market value$84.75M

1.70%

Sole

3.09M

Shared

0.00

None

223.39K

DIMENSIONAL ETF TRUST

OTR

INTERNATNAL VAL

Shares1.83M

TypeSH

Market value$84.60M

1.69%

Sole

1.71M

Shared

0.00

None

123.08K

META PLATFORMS INC

SOLE

CL A

Shares104.57K

TypeSH

Market value$76.79M

1.54%

Sole

95.20K

Shared

0.00

None

9.37K

VANGUARD INDEX FDS

SOLE

VALUE ETF

Shares346.44K

TypeSH

Market value$64.61M

1.29%

Sole

301.27K

Shared

0.00

None

45.17K

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares96.67K

TypeSH

Market value$64.40M

1.29%

Sole

96K

Shared

0.00

None

675.00

VANGUARD SCOTTSDALE FDS

SOLE

SHORT TERM TREAS

Shares1.05M

TypeSH

Market value$61.65M

1.23%

Sole

920.60K

Shared

0.00

None

127.04K

AMAZON COM INC

OTR

COM

Shares265.96K

TypeSH

Market value$58.40M

1.17%

Sole

257.07K

Shared

0.00

None

8.89K

VANGUARD TAX-MANAGED FDS

OTR

VAN FTSE DEV MKT

Shares898.71K

TypeSH

Market value$53.85M

1.08%

Sole

894.05K

Shared

0.00

None

4.66K

AMERICAN CENTY ETF TR

OTR

INTL SMCP VLU

Shares594.02K

TypeSH

Market value$52.89M

1.06%

Sole

567.24K

Shared

0.00

None

26.78K

DIMENSIONAL ETF TRUST

SOLE

US TARGETED VLU

Shares906.25K

TypeSH

Market value$52.75M

1.06%

Sole

850.98K

Shared

0.00

None

55.28K

ALPHABET INC

OTR

CAP STK CL C

Shares158.17K

TypeSH

Market value$38.52M

0.77%

Sole

148.38K

Shared

0.00

None

9.79K

VANGUARD INDEX FDS

SOLE

REAL ESTATE ETF

Shares402.24K

TypeSH

Market value$36.77M

0.74%

Sole

370.74K

Shared

0.00

None

31.50K

AMERICAN CENTY ETF TR

OTR

US SML CP VALU

Shares361.07K

TypeSH

Market value$35.94M

0.72%

Sole

345.44K

Shared

0.00

None

15.63K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NVIDIA CORPORATIONSOLE	COM	1.50M	SH	$279.96M 5.60%	1.35M	153.49K
ISHARES TROTR	MSCI USA MMENTM	1.03M	SH	$264.33M 5.29%	944.07K	86.65K
VANGUARD MALVERN FDSSOLE	STRM INFPROIDX	4.30M	SH	$217.74M 4.36%	4.03M	267.87K
ISHARES TRSOLE	MSCI USA QLT FCT	985.96K	SH	$191.77M 3.84%	914.78K	71.18K
VANGUARD SCOTTSDALE FDSOTR	SHRT TRM CORP BD	2.34M	SH	$186.77M 3.74%	2.08M	252.57K
ISHARES TROTR	MSCI INTL QUALTY	3.49M	SH	$154.13M 3.08%	3.25M	238.08K
APPLE INCSOLE	COM	602.91K	SH	$153.52M 3.07%	516.74K	86.18K
DIMENSIONAL ETF TRUSTSOLE	US MKTWIDE VALUE	2.88M	SH	$128.78M 2.58%	2.58M	299.17K
ISHARES TRSOLE	EAFE VALUE ETF	1.87M	SH	$126.93M 2.54%	1.77M	105.35K
MICROSOFT CORPSOLE	COM	227.35K	SH	$117.76M 2.36%	210.71K	16.64K
ISHARES INCSOLE	CORE MSCI EMKT	1.77M	SH	$116.47M 2.33%	1.64M	129.17K
VANGUARD SCOTTSDALE FDSOTR	INT-TERM CORP	1.32M	SH	$111.28M 2.23%	1.18M	145.38K
SPDR SERIES TRUSTOTR	BLOOMBERG SHT TE	3.31M	SH	$84.75M 1.70%	3.09M	223.39K
DIMENSIONAL ETF TRUSTOTR	INTERNATNAL VAL	1.83M	SH	$84.60M 1.69%	1.71M	123.08K
META PLATFORMS INCSOLE	CL A	104.57K	SH	$76.79M 1.54%	95.20K	9.37K
VANGUARD INDEX FDSSOLE	VALUE ETF	346.44K	SH	$64.61M 1.29%	301.27K	45.17K
SPDR S&P 500 ETF TRSOLE	TR UNIT	96.67K	SH	$64.40M 1.29%	96K	675.00
VANGUARD SCOTTSDALE FDSSOLE	SHORT TERM TREAS	1.05M	SH	$61.65M 1.23%	920.60K	127.04K
AMAZON COM INCOTR	COM	265.96K	SH	$58.40M 1.17%	257.07K	8.89K
VANGUARD TAX-MANAGED FDSOTR	VAN FTSE DEV MKT	898.71K	SH	$53.85M 1.08%	894.05K	4.66K
AMERICAN CENTY ETF TROTR	INTL SMCP VLU	594.02K	SH	$52.89M 1.06%	567.24K	26.78K
DIMENSIONAL ETF TRUSTSOLE	US TARGETED VLU	906.25K	SH	$52.75M 1.06%	850.98K	55.28K
ALPHABET INCOTR	CAP STK CL C	158.17K	SH	$38.52M 0.77%	148.38K	9.79K
VANGUARD INDEX FDSSOLE	REAL ESTATE ETF	402.24K	SH	$36.77M 0.74%	370.74K	31.50K
AMERICAN CENTY ETF TROTR	US SML CP VALU	361.07K	SH	$35.94M 0.72%	345.44K	15.63K

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