Empirical Financial Services, LLC d.b.a. Empirical Wealth Management quarter change: USA ETF, Reduced
In exchange-traded fund shares (known by the fund name on the filing) (listed in the US), from the quarter ended 2026-03-31 to 2026-06-30, Empirical Financial Services, LLC d.b.a. Empirical Wealth Management opened 56 positions, added to 95, reduced 70, sold out of 43 and left 36 unchanged. The largest increase in value was MTUM (+$88,898,553); the largest decrease was SJNK (-$37,158,524).
- MTUM: Country of operation —; Class MSCI USA MMENTM; Shares 2026-03-31 960,399; Shares 2026-06-30 931,613.
- VTV: Country of operation —; Class VALUE ETF; Shares 2026-03-31 340,165; Shares 2026-06-30 336,297.
- VFMO: Country of operation —; Class US MOMENTUM; Shares 2026-03-31 109,211; Shares 2026-06-30 104,019.
- SCHA: Country of operation —; Class US SML CAP ETF; Shares 2026-03-31 429,202; Shares 2026-06-30 414,348.
Two Form 13F-HR filings compared (SEC CIK 1510434): 2026-03-31 (filed 2026-05-04) and 2026-06-30 (filed 2026-07-15). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.
| Stock | Country of operation | Class | Shares 2026-03-31 | Shares 2026-06-30 | Share change | Value 2026-03-31 | Value 2026-06-30 | Value change |
|---|
MTUM
ISHARES TR | | MSCI USA MMENTM | 960,399 | 931,613 | -28,786 | $230,486,167 | $319,384,720 | +$88,898,553 |
|---|
VTV
VANGUARD INDEX FDS | | VALUE ETF | 340,165 | 336,297 | -3,868 | $66,740,423 | $73,289,334 | +$6,548,911 |
|---|
VFMO
VANGUARD WELLINGTON FD | | US MOMENTUM | 109,211 | 104,019 | -5,192 | $21,525,486 | $25,953,890 | +$4,428,404 |
|---|
SCHA
SCHWAB STRATEGIC TR | | US SML CAP ETF | 429,202 | 414,348 | -14,854 | $12,481,189 | $14,970,379 | +$2,489,190 |
|---|
VV
VANGUARD INDEX FDS | | LARGE CAP ETF | 55,294 | 55,237 | -57 | $16,524,514 | $18,996,444 | +$2,471,930 |
|---|
ESML
ISHARES TR | | ESG AWARE MSCI | 262,528 | 260,272 | -2,256 | $12,344,064 | $14,556,990 | +$2,212,926 |
|---|
ESGE
ISHARES INC | | ESG AWR MSCI EM | 271,331 | 262,736 | -8,595 | $12,337,409 | $14,369,010 | +$2,031,601 |
|---|
VSS
VANGUARD INTL EQUITY INDEX F | | FTSE SMCAP ETF | 206,351 | 205,418 | -933 | $30,083,980 | $31,693,901 | +$1,609,921 |
|---|
VWO
VANGUARD INTL EQUITY INDEX F | | FTSE EMR MKT ETF | 292,524 | 288,101 | -4,423 | $15,810,924 | $17,196,749 | +$1,385,825 |
|---|
NUMV
NUSHARES ETF TR | | NUVEEN ESG MIDVL | 267,291 | 266,948 | -343 | $10,362,891 | $11,609,589 | +$1,246,698 |
|---|
KAT
ADVISORS SER TR | | SCHARF ETF | 75,464 | 52,039 | -23,425 | $4,044,496 | $2,813,231 | -$1,231,265 |
|---|
SCHE
SCHWAB STRATEGIC TR | | EMRG MKTEQ ETF | 450,361 | 440,417 | -9,944 | $14,839,404 | $15,969,511 | +$1,130,107 |
|---|
EMXC
ISHARES INC | | MSCI EMRG CHN | 49,742 | 48,316 | -1,426 | $3,912,706 | $4,942,727 | +$1,030,021 |
|---|
IVV
ISHARES TR | | CORE S&P500 ETF | 22,371 | 20,833 | -1,538 | $14,612,906 | $15,601,696 | +$988,790 |
|---|
SOXX
ISHARES TR | | ISHARES SEMICDTR | 3,111 | 3,106 | -5 | $1,022,602 | $1,990,477 | +$967,875 |
|---|
VSGX
VANGUARD WORLD FD | | ESG INTL STK ETF | 83,687 | 82,246 | -1,441 | $6,002,852 | $6,772,176 | +$769,324 |
|---|
VT
VANGUARD INTL EQUITY INDEX F | | TT WRLD ST ETF | 34,822 | 26,040 | -8,782 | $4,816,599 | $4,086,990 | -$729,609 |
|---|
HYD
VANECK ETF TRUST | | HIGH YLD MUNIETF | 76,290 | 61,335 | -14,955 | $3,825,196 | $3,159,355 | -$665,841 |
|---|
DES
WISDOMTREE TR | | US SMALLCAP DIVD | 132,137 | 128,207 | -3,930 | $4,748,992 | $5,215,472 | +$466,480 |
|---|
IWM
ISHARES TR | | RUSSELL 2000 ETF | 9,681 | 9,398 | -283 | $2,400,915 | $2,823,519 | +$422,604 |
|---|
IWN
ISHARES TR | | RUS 2000 VAL ETF | 15,830 | 15,406 | -424 | $3,001,210 | $3,407,808 | +$406,598 |
|---|
DEM
WISDOMTREE TR | | EMER MKT HIGH FD | 125,189 | 123,112 | -2,077 | $6,220,666 | $6,622,200 | +$401,534 |
|---|
IWD
ISHARES TR | | RUS 1000 VAL ETF | 16,786 | 16,346 | -440 | $3,586,653 | $3,962,870 | +$376,217 |
|---|
FDM
FIRST TR EXCHANGE-TRADED FD | | COM SHS ANNUAL | 35,823 | 35,391 | -432 | $2,940,549 | $3,295,257 | +$354,708 |
|---|
STIP
ISHARES TR | | 0-5 YR TIPS ETF | 170,271 | 169,160 | -1,111 | $17,611,112 | $17,281,429 | -$329,683 |
|---|
IGM
ISHARES TR | | EXPND TEC SC ETF | 7,147 | 7,069 | -78 | $847,035 | $1,156,408 | +$309,373 |
|---|
DIA
STATE STR SPDR DOW JONES IND | | UT SER 1 | 4,845 | 4,842 | -3 | $2,244,275 | $2,529,216 | +$284,941 |
|---|
IEFA
ISHARES TR | | CORE MSCI EAFE | 38,296 | 33,340 | -4,956 | $3,466,928 | $3,219,968 | -$246,960 |
|---|
SCHH
SCHWAB STRATEGIC TR | | US REIT ETF | 162,140 | 157,493 | -4,647 | $3,484,397 | $3,729,437 | +$245,040 |
|---|
NULG
NUSHARES ETF TR | | NUVEEN ESG LRGCP | 9,178 | 8,877 | -301 | $834,688 | $1,039,194 | +$204,506 |
|---|
FTEC
FIDELITY COVINGTON TRUST | | MSCI INFO TECH I | 2,891 | 2,821 | -70 | $601,376 | $805,489 | +$204,113 |
|---|
VEU
VANGUARD INTL EQUITY INDEX F | | ALLWRLD EX US | 25,982 | 25,443 | -539 | $1,951,232 | $2,130,872 | +$179,640 |
|---|
IDV
ISHARES TR | | INTL SEL DIV ETF | 60,673 | 57,995 | -2,678 | $2,582,226 | $2,402,722 | -$179,504 |
|---|
IGSB
ISHARES TR | | ISHS 1-5YR INVS | 8,441 | 5,415 | -3,026 | $443,640 | $283,806 | -$159,834 |
|---|
AGG
ISHARES TR | | CORE US AGGBD ET | 9,026 | 7,525 | -1,501 | $896,042 | $744,823 | -$151,219 |
|---|
EEMS
ISHARES INC | | EM MKT SM-CP ETF | 17,772 | 17,638 | -134 | $1,229,467 | $1,338,548 | +$109,081 |
|---|
IBIT
ISHARES BITCOIN TRUST ETF | | SHS BEN INT | 11,838 | 10,551 | -1,287 | $454,816 | $351,243 | -$103,573 |
|---|
DGS
WISDOMTREE TR | | EMG MKTS SMCAP | 31,360 | 30,674 | -686 | $1,884,756 | $1,984,901 | +$100,145 |
|---|
SCHZ
SCHWAB STRATEGIC TR | | US AGGREGATE B | 140,212 | 136,632 | -3,580 | $3,255,720 | $3,160,293 | -$95,427 |
|---|
EEM
ISHARES TR | | MSCI EMG MKT ETF | 7,712 | 7,589 | -123 | $437,941 | $519,135 | +$81,194 |
|---|
GDX
VANECK ETF TRUST | | GOLD MINERS ETF | 3,922 | 3,705 | -217 | $359,922 | $279,543 | -$80,379 |
|---|
DVY
ISHARES TR | | SELECT DIVID ETF | 1,978 | 1,403 | -575 | $299,489 | $219,289 | -$80,200 |
|---|
VONG
VANGUARD SCOTTSDALE FDS | | VNG RUS1000GRW | 5,917 | 4,527 | -1,390 | $649,048 | $578,611 | -$70,437 |
|---|
MDY
STATE STR SPDR S&P MIDCAP 40 | | UTSER1 S&PDCRP | 917 | 904 | -13 | $565,569 | $635,820 | +$70,251 |
|---|
IVE
ISHARES TR | | S&P 500 VAL ETF | 4,371 | 3,766 | -605 | $922,937 | $855,108 | -$67,829 |
|---|
VYMI
VANGUARD WHITEHALL FDS | | INTL HIGH ETF | 16,399 | 16,338 | -61 | $1,545,442 | $1,604,392 | +$58,950 |
|---|
DFAX
DIMENSIONAL ETF TRUST | | WORLD EX US CORE | 10,185 | 7,906 | -2,279 | $345,987 | $291,260 | -$54,727 |
|---|
SHY
ISHARES TR | | 1 3 YR TREAS BD | 13,470 | 12,898 | -572 | $1,112,226 | $1,059,075 | -$53,151 |
|---|
VTWO
VANGUARD SCOTTSDALE FDS | | VNG RUS2000IDX | 2,557 | 1,691 | -866 | $256,175 | $205,276 | -$50,899 |
|---|
BSJQ
INVESCO EXCH TRD SLF IDX FD | | INVSCO BLSH 26 | 29,230 | 27,317 | -1,913 | $677,403 | $627,054 | -$50,349 |
|---|
BSJR
INVESCO EXCH TRD SLF IDX FD | | BULETSHS 2027 | 29,686 | 27,788 | -1,898 | $663,930 | $620,946 | -$42,984 |
|---|
BSJT
INVESCO EXCH TRD SLF IDX FD | | BULETSHS 2029 HG | 31,032 | 28,923 | -2,109 | $652,754 | $611,136 | -$41,618 |
|---|
PRFZ
INVESCO EXCHANGE TRADED FD T | | RAFI US 1500 | 5,263 | 5,064 | -199 | $241,415 | $282,435 | +$41,020 |
|---|
BSJS
INVESCO EXCH TRD SLF IDX FD | | INVSCO 28 HYCORP | 30,862 | 29,094 | -1,768 | $669,241 | $632,646 | -$36,595 |
|---|
SPGP
INVESCO EXCHANGE TRADED FD T | | S&P 500 GARP ETF | 3,183 | 2,505 | -678 | $342,555 | $306,337 | -$36,218 |
|---|
SCHP
SCHWAB STRATEGIC TR | | US TIPS ETF | 21,538 | 20,330 | -1,208 | $573,117 | $538,742 | -$34,375 |
|---|
IJH
ISHARES TR | | CORE S&P MCP ETF | 27,986 | 24,885 | -3,101 | $1,889,895 | $1,918,883 | +$28,988 |
|---|
IGIB
ISHARES TR | | ISHS 5-10YR INVT | 4,477 | 3,988 | -489 | $238,266 | $212,042 | -$26,224 |
|---|
ICLN
ISHARES TR | | GL CLEAN ENE ETF | 13,290 | 13,093 | -197 | $243,082 | $268,272 | +$25,190 |
|---|
HDEF
DBX ETF TR | | XTRACK MSCI EAFE | 10,604 | 9,935 | -669 | $343,676 | $319,311 | -$24,365 |
|---|
BSJU
INVESCO EXCH TRD SLF IDX FD | | BULLETSHS 2030 | 26,296 | 25,166 | -1,130 | $672,916 | $649,555 | -$23,361 |
|---|
EFA
ISHARES TR | | MSCI EAFE ETF | 24,411 | 23,021 | -1,390 | $2,371,084 | $2,391,403 | +$20,319 |
|---|
IWP
ISHARES TR | | RUS MD CP GR ETF | 1,935 | 1,808 | -127 | $247,869 | $264,737 | +$16,868 |
|---|
MUB
ISHARES TR | | NATIONAL MUN ETF | 53,422 | 52,579 | -843 | $5,670,782 | $5,658,581 | -$12,201 |
|---|
BSCR
INVESCO EXCH TRD SLF IDX FD | | BULSHS 2027 CB | 175,813 | 175,380 | -433 | $3,450,335 | $3,440,085 | -$10,250 |
|---|
IYK
ISHARES TR | | US CONSM STAPLES | 3,606 | 3,364 | -242 | $252,551 | $244,452 | -$8,099 |
|---|
PXH
INVESCO EXCH TRADED FD TR II | | RAFI EMRGNG MRKT | 8,157 | 8,155 | -2 | $219,506 | $227,362 | +$7,856 |
|---|
FNDC
SCHWAB STRATEGIC TR | | FUNDAMENTAL INTL | 7,394 | 7,197 | -197 | $342,787 | $349,487 | +$6,700 |
|---|
PBP
INVESCO EXCHANGE TRADED FD T | | S&P500 BUY WRT | 88,159 | 84,477 | -3,682 | $1,938,617 | $1,934,524 | -$4,093 |
|---|
EMLP
FIRST TR EXCHANGE-TRADED FD | | NO AMER ENERGY | 5,785 | 5,766 | -19 | $252,574 | $250,821 | -$1,753 |
|---|