1y return+20.3%S&P 500 +20.9%
3y return+54.4%S&P 500 +68.5%
5y return+44.1%S&P 500 +74.5%
10y return+97.9%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $198 against $357 in the S&P 500.2
Empirical Financial Services, LLC d.b.a. Empirical Wealth ManagementS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $412.3M | 6.0% | +5.3% |
| QUALIshares Tr | $393.8M | 5.8% | +1.6% |
| IQLTIshares Tr | $391.0M | 5.7% | +15.4% |
| MTUMIshares Tr | $319.4M | 4.7% | −3.0% |
| VTIPVanguard Malvern Fds | $258.5M | 3.8% | +5.2% |
| VCSHVanguard Scottsdale Fds | $227.4M | 3.3% | +5.1% |
| DFUVDimensional Etf Trust | $184.6M | 2.7% | +5.0% |
| AAPLApple Inc | $179.6M | 2.6% | +1.4% |
| IEMGIshares Inc | $168.0M | 2.5% | +2.2% |
| EFVIshares Tr | $163.4M | 2.4% | +6.2% |
| VCITVanguard Scottsdale Fds | $120.2M | 1.8% | +4.5% |
| DFIVDimensional Etf Trust | $99.2M | 1.5% | +2.8% |
| MSFTMicrosoft Corp | $85.6M | 1.3% | +4.0% |
| SPYState Str Spdr S&p 500 Etf T | $77.6M | 1.1% | +7.8% |
| QGRWWisdomtree Tr | $76.6M | 1.1% | +13.6% |
| DFMCDfa Invt Dimensions Group In | $75.6M | 1.1% | +7.3% |
| AMZNAmazon Com Inc | $74.8M | 1.1% | +6.2% |
| VTVVanguard Index Fds | $73.3M | 1.1% | −1.1% |
| VGSHVanguard Scottsdale Fds | $70.6M | 1.0% | +5.5% |
| AVDVAmerican Centy Etf Tr | $68.4M | 1.0% | +5.3% |
| GOOGAlphabet Inc | $65.1M | 1.0% | +8.1% |
| Dimensional Etf TrustCUSIP 25434V609 | $64.5M | 0.9% | |
| VEAVanguard Tax-managed Fds | $64.1M | 0.9% | |
| METAMeta Platforms Inc | $61.6M | 0.9% | +3.3% |
| CSCOCisco Sys Inc | $56.5M | 0.8% | +1.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $412.3M |
| AVGOBroadcom Inc | September 30, 2022 | +750.7% | $39.8M |
| DELLDell Technologies Inc | June 30, 2020 | +685.4% | $35.9M |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $32.1M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $31.9M |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $65.1M |
| AAPLApple Inc | June 30, 2020 | +217.3% | $179.6M |
| CSCOCisco Sys Inc | June 30, 2020 | +151.8% | $56.5M |
| METAMeta Platforms Inc | June 30, 2020 | +148.1% | $61.6M |
| SPYState Str Spdr S&p 500 Etf T | June 30, 2020 | +142.2% | $77.6M |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $2.1M
- Carnival CorpCUSIP 143658300 was $1.7M
- Dupont De Nemours IncCUSIP 26614N102 was $1.0M
- INGRIngredion Inc was $843K
- Tidal Trust ICUSIP 886364462 was $622K
- SCHRSchwab Strategic Tr was $570K
- PSLVSprott Asset Management LP was $521K
- GGGGraco Inc was $469K
- SAMBoston Beer Inc was $465K
- GAPGap Inc was $425K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.8% | +14.8% |
| March 31, 2026 | −1.0% | −4.6% |
| December 31, 2025 | +1.4% | +2.4% |
| September 30, 2025 | +6.2% | +7.8% |
| June 30, 2025 | +8.3% | +10.5% |
| March 31, 2025 | −1.5% | −4.6% |
| December 31, 2024 | −2.1% | +2.1% |
| September 30, 2024 | +5.7% | +5.4% |
| June 30, 2024 | +2.5% | +4.0% |
| March 31, 2024 | +7.3% | +10.0% |
| December 31, 2023 | +8.7% | +11.2% |
| September 30, 2023 | −2.8% | −3.6% |
| June 30, 2023 | +3.5% | +8.3% |
| March 31, 2023 | +4.0% | +7.0% |
| December 31, 2022 | +6.9% | +7.1% |
| September 30, 2022 | −6.1% | −5.3% |
| June 30, 2022 | −12.3% | −16.5% |
| March 31, 2022 | −4.7% | −4.9% |
| December 31, 2021 | +4.3% | +10.7% |
| September 30, 2021 | −1.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Empirical Financial Services, LLC d.b.a. Empirical Wealth Management Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1510434&type=13F-HR&dateb=&owner=include&count=40CIK 1510434
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1510434/000108514626000512/Filed July 15, 2026 · accession 0001085146-26-000512