First Washington provides portfolio management for individuals and small businesses.
First Washington reports 29 clients. They include 22 high-net-worth individuals, 3 charitable organizations and 2 individual clients. Of its assets, 100.0% ($501M across 29 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 7% | <1% |
| High-net-worth individuals | 76% | 63% |
| Charitable organizations | 10% | 30% |
| Corporations and other businesses | 7% | 7% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $1.13M | 0.2% | $566K |
| High-net-worth individuals | 22 | $314M | 62.6% | $14.3M |
| Charitable organizations | Fewer than 5 | $152M | 30.4% | $50.8M |
| Corporations and other businesses | Fewer than 5 | $33.8M | 6.8% | $16.9M |
| Total | 29 | $501M | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $1.13M
- AUM share
- 0.2%
- Avg. per client
- $566K
- Clients
- 22
- Regulatory AUM
- $314M
- AUM share
- 62.6%
- Avg. per client
- $14.3M
- Clients
- Fewer than 5
- Regulatory AUM
- $152M
- AUM share
- 30.4%
- Avg. per client
- $50.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $33.8M
- AUM share
- 6.8%
- Avg. per client
- $16.9M
Total
- Clients
- 29
- Regulatory AUM
- $501M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
First Washington charges up to 1.00% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable.
Fee details and sources
Lewis Investors, LLC owns 75% or more of First Washington and is in turn owned by David Dixon Lewis (75% or more). The leadership team of First Washington includes Chief Compliance Officer David Dixon Lewis. It has 5 employees, 3 of them in advisory roles.
Leadership
- David Dixon LewisChief Compliance Officer
- David Dixon LewisChairman, ROSFP
- Teresa Ann McIntyreSecretary/Treasurer
- Teresa Ann McIntyreFinancial Operations Principal
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
- David Dixon Lewis
- John Phillip Morbeck
- Brander Lee Richmond
Staff
- 5 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of First Washington Corporation
Lewis Investors, LLC
Control person · since May 2003
- Owns 75% or more of Lewis Investors, LLC
David Dixon Lewis
Control person · since May 2003
First Washington’s regulatory assets grew 1.6× from $309M (December 2020) to $501M (December 2025); clients fell from 37 to 29 and employees rose from 4 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| December 2025 | $501M | 29 | 5 | 1 |
| December 2024 | $428M | 31 | 4 | 1 |
| December 2023 | $373M | 32 | 4 | 1 |
| December 2022 | $267M | 37 | 4 | 1 |
| December 2021 | $354M | 35 | 4 | 1 |
| December 2020 | $309M | 37 | 4 | 1 |
Besides its headquarters, First Washington has 0 offices, with 1 listed address in Washington.
Washington · 1 listed address
- 2001 6th Ave, Ste 3400, SeattleHQ
Contact and registration details
- Legal name
- First Washington Corporation
- Headquarters
- 2001 6th Ave, Ste 3400, Seattle, WA 98121
- Website
- first-wash.com
- Phone
- 206-624-8320
- SEC file
- 801-66192
- Structure
- Washington corporation
- Fiscal year end
- September
First Washington uses US Bank, N.A. ($441M, 88%) and Dorsey & Whitney Trust ($59.9M, 12%) as custodians for its separately managed accounts. First Washington does not have custody of client assets.
- US Bank, N.A.US Bank, N.A. · Cincinnati, OH · $441M88%
- Dorsey & Whitney TrustDorsey & Whitney Trust Company · Sioux Falls, SD · $59.9M12%
At year end, First Washington’s separately managed accounts were mostly in stocks (81%) and cash (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $411M across 51 positions; the largest are J P Morgan Exchange Traded F (19.9%), Paccar Inc. (8.4%) and Micron Technology Inc. (5.5%).
What the accounts hold
- Stocks81%
- Bonds5%
- Cash19%
Reported 13F holdings
- $411M
- Reported 13F value
- 51
- Positions
- 56.9%
- In the 10 largest
- +16.1%
- Value vs. prior quarter
- J P Morgan Exchange Traded F · Core Plus BD ETF19.9%
- Paccar Inc.8.4%
- Micron Technology Inc.5.5%
- Dycom Inds Inc.4.1%
- Marvell Technology Inc.4.0%
- Viking Therapeutics Inc.3.6%
- Mastec Inc.3.1%
- GE Vernova Inc.2.9%
- Nlight Inc.2.8%
- Granite Constr Inc.2.5%
Together, the ten largest are 56.9% of reported value.
How many clients does First Washington have?
First Washington has 29 clients and manages $501 million for them, as of December 2025. They include 22 high-net-worth individuals, 3 charitable organizations and 2 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 December 2025
What services does First Washington offer?
First Washington provides portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does First Washington charge?
First Washington charges up to 1.00% a year for its Portfolio management services. The fee is billed in advance or in arrears and is negotiable.
Source: FIRST WASHINGTON CORP FORM ADV PART2A DATED 12/15/2025, filed 18 December 2025
Which custodians does First Washington use?
First Washington’s separately managed account assets are held at US Bank, N.A. (Cincinnati, OH), with $441M and Dorsey & Whitney Trust Company (Sioux Falls, SD), with $59.9M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 December 2025
How many financial advisors does First Washington have?
First Washington has 3 investment adviser representatives registered with state securities authorities, out of 5 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does First Washington invest in?
At the end of its last fiscal year, First Washington’s separately managed accounts held 81% exchange-traded equities, 19% cash and equivalents and 5% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns First Washington?
First Washington is owned through a holding company by David Dixon Lewis. Its direct owner is Lewis Investors, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 18 December 2025
How does First Washington get paid?
First Washington is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact First Washington?
First Washington’s main office is at 2001 6th Ave, Ste 3400, Seattle, WA 98121. Its phone number is 206-624-8320. Its website is first-wash.com.