Empirical Financial Services, LLC d/b/a Empirical Wealth Management

Empirical Financial Services as of Sept. 30, 2014

Portfolio Holdings for Empirical Financial Services

Empirical Financial Services holds 104 positions in its portfolio as reported in the September 2014 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Vanguard Short Term Corporate Bond ETF (VCSH) 19.3 $80M 999k 79.87
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 11.9 $49M 573k 85.77
Schwab Strategic Tr us lrg cap etf (SCHX) 7.5 $31M 657k 46.99
iShares Lehman 1-3 Year Treas.Bond (SHY) 4.8 $20M 235k 84.51
Schwab Strategic Tr 0 (SCHP) 4.6 $19M 348k 54.18
Barclays Bk Plc Ipspgs Ttl Etn etf 4.0 $17M 560k 29.75
Vanguard REIT ETF (VNQ) 4.0 $16M 227k 71.85
Vanguard Europe Pacific ETF (VEA) 3.8 $16M 398k 39.75
Ishares Inc core msci emkt (IEMG) 2.9 $12M 242k 50.04
Pimco Etf Tr 1-3yr ustreidx 2.9 $12M 236k 50.90
Vanguard Large-Cap ETF (VV) 2.8 $11M 126k 90.46
Vanguard Malvern Fds strm infproidx (VTIP) 2.5 $11M 214k 49.37
iShares Barclays TIPS Bond Fund (TIP) 2.0 $8.4M 75k 112.07
Spdr Short-term High Yield mf (SJNK) 1.9 $8.0M 269k 29.93
Pimco Etf Tr 0-5 high yield (HYS) 1.7 $7.1M 69k 103.65
iShares S&P Natl AMTFr Mncpl Bd (MUB) 1.6 $6.4M 59k 109.67
Vanguard Total Stock Market ETF (VTI) 1.1 $4.5M 45k 101.25
Spdr Series Trust cmn (HYMB) 1.0 $4.1M 72k 56.82
Schwab Strategic Tr us aggregate b (SCHZ) 0.9 $3.9M 75k 51.76
Claymore Exchange-traded Fd gugg crp bd 2016 0.7 $2.9M 130k 22.32
Claymore Exchange-traded Fd gugg crp bd 2014 0.7 $2.8M 131k 21.08
Guggenheim Bulletshar 0.7 $2.8M 128k 21.74
Claymore Exchange-traded Fd gugg crp bd 2017 0.7 $2.7M 117k 22.76
Ishares Inc msci frntr 100 (FM) 0.6 $2.6M 68k 37.84
Claymore Exchange Trd Fd Tr gug bull2018 e 0.6 $2.5M 120k 21.14
Spdr Series Trust brcly em locl (EBND) 0.6 $2.5M 83k 29.61
Schwab Emerging Markets Equity ETF (SCHE) 0.6 $2.4M 96k 25.40
Claymore Exchange Trd Fd Tr gug bull2019 e 0.6 $2.4M 112k 21.01
Claymore Exchange Trd Fd Tr gug bull2020 e 0.6 $2.3M 110k 21.08
iShares MSCI EAFE Index Fund (EFA) 0.5 $2.0M 32k 64.12
Apple (AAPL) 0.5 $1.9M 19k 100.77
iShares Lehman Aggregate Bond (AGG) 0.5 $1.9M 18k 109.10
Schwab International Equity ETF (SCHF) 0.4 $1.8M 59k 31.02
Microsoft Corporation (MSFT) 0.4 $1.8M 38k 46.35
Vanguard Intl Equity Index F glb ex us etf (VNQI) 0.4 $1.6M 29k 54.44
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 0.4 $1.5M 14k 105.26
SPDR DJ Wilshire REIT (RWR) 0.4 $1.5M 19k 79.80
Market Vectors High Yield Muni. Ind 0.4 $1.5M 49k 30.75
Vanguard Short-Term Bond ETF (BSV) 0.4 $1.5M 19k 80.04
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.4 $1.5M 60k 24.41
Market Vectors-Inter. Muni. Index 0.3 $1.4M 61k 23.45
Vanguard Total World Stock Idx (VT) 0.3 $1.4M 23k 60.36
SPDR Barclay Cp Intr Trm Cr Bd (SPIB) 0.3 $1.1M 34k 34.14
Twitter 0.3 $1.1M 22k 51.57
Wisdomtree Tr em lcl debt (ELD) 0.2 $1.0M 23k 44.60
iShares MSCI Emerging Markets Indx (EEM) 0.2 $961k 23k 41.55
Spdr S&p 500 Etf (SPY) 0.2 $969k 4.9k 197.07
Vanguard Value ETF (VTV) 0.2 $938k 12k 81.18
iShares S&P World Ex-US Prop Index (WPS) 0.2 $960k 26k 36.59
Claymore Exchange Trd Fd Tr gugg bulsh 2021 0.2 $937k 45k 20.75
Guggenheim Bulletshs Etf equity 0.2 $799k 30k 26.43
Guggenheim Bulletshs Etf equity 0.2 $777k 30k 26.38
Claymore Etf gug blt2017 hy 0.2 $765k 29k 26.75
Claymore Etf gug blt2016 hy 0.2 $792k 30k 26.63
General Electric Company 0.2 $763k 30k 25.64
Vanguard High Dividend Yield ETF (VYM) 0.2 $725k 11k 66.42
Claymore Exchange Trd Fd Tr gug blt2018 hy 0.2 $724k 27k 26.70
SPDR Dow Jones Global Real Estate (RWO) 0.2 $690k 16k 44.33
PowerShares VRDO Tax Free Weekly Por ETF 0.2 $673k 27k 24.96
iShares Lehman 3-7 Yr Treasury Bond (IEI) 0.2 $665k 5.5k 121.37
Claymore Exchange Trd Fd Tr gug bul 2019 hy 0.2 $671k 26k 25.69
3M Company (MMM) 0.1 $624k 4.4k 141.59
Procter & Gamble Company (PG) 0.1 $600k 7.2k 83.78
iShares S&P 500 Index (IVV) 0.1 $587k 3.0k 198.24
Chevron Corporation (CVX) 0.1 $522k 4.4k 119.34
ISHARES TR MSCI Small Cap msci small cap (SCZ) 0.1 $525k 11k 48.49
iShares Russell Microcap Index (IWC) 0.1 $557k 8.0k 69.56
Bank of America Corporation (BAC) 0.1 $488k 29k 17.05
Starbucks Corporation (SBUX) 0.1 $477k 6.3k 75.39
Amgen (AMGN) 0.1 $459k 3.3k 140.54
SPDR Barclays Cptl Shrt Term Corp Bd ETF (SPSB) 0.1 $459k 15k 30.66
Philip Morris International (PM) 0.1 $428k 5.1k 83.46
WisdomTree SmallCap Dividend Fund (DES) 0.1 $401k 6.2k 64.91
SPDR S&P International Dividend (DWX) 0.1 $375k 8.1k 46.33
PIMCO Broad US TIPS Index Fund (TIPZ) 0.1 $375k 6.6k 56.70
ConocoPhillips (COP) 0.1 $339k 4.4k 76.51
Vanguard Emerging Markets ETF (VWO) 0.1 $317k 7.6k 41.67
Vanguard Total Bond Market ETF (BND) 0.1 $330k 4.0k 81.91
SPDR S&P Emerging Markets Small Cap (EWX) 0.1 $336k 7.0k 47.92
Petroleum & Resources Corporation 0.1 $334k 12k 28.81
Coca-Cola Company (KO) 0.1 $281k 6.6k 42.71
Johnson & Johnson (JNJ) 0.1 $284k 2.7k 106.61
Walt Disney Company (DIS) 0.1 $273k 3.1k 88.87
Boeing Company (BA) 0.1 $278k 2.2k 127.46
International Business Machines (IBM) 0.1 $291k 1.5k 189.70
Gilead Sciences (GILD) 0.1 $293k 2.7k 106.62
WisdomTree Emerging Markets Eq (DEM) 0.1 $287k 6.0k 47.71
WisdomTree Intl. SmallCap Div (DLS) 0.1 $310k 5.2k 59.17
Costco Wholesale Corporation (COST) 0.1 $265k 2.1k 125.47
PowerShares QQQ Trust, Series 1 0.1 $233k 2.4k 98.73
iShares S&P SmallCap 600 Index (IJR) 0.1 $267k 2.6k 104.42
SPDR S&P Dividend (SDY) 0.1 $231k 3.1k 74.78
iShares S&P Cal AMTFr Mncpl Bnd (CMF) 0.1 $233k 2.0k 116.50
Exxon Mobil Corporation (XOM) 0.1 $215k 2.3k 94.22
Altria (MO) 0.1 $225k 4.9k 45.92
Berkshire Hathaway (BRK.A) 0.1 $207k 1.00 207000.00
Merck & Co (MRK) 0.1 $211k 3.6k 59.17
Schlumberger (SLB) 0.1 $210k 2.1k 101.74
Target Corporation (TGT) 0.1 $219k 2.9k 76.73
Southwest Airlines (LUV) 0.1 $218k 6.5k 33.75
iShares IBoxx $ Invest Grade Corp Bd (LQD) 0.1 $208k 1.8k 118.18
Rydex S&P Equal Weight ETF 0.1 $213k 2.8k 75.77
iShares 2015 S&P AMT-Free Mun Ser ETF 0.1 $218k 4.1k 52.80
Opko Health (OPK) 0.0 $170k 20k 8.50