Institutional Manager · CIK 0001572838
Empirical Finance, LLC
NEWTOWN SQUARE, PA · File #028-17745
Latest AUM
$2.10B
Positions
497
Top-10 Concentration
60.5%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | ALPHABET INC | 02079K305 | -206,995 | -$50.3M | $0 |
| EXITED | VANGUARD INDEX FDS | 922908769 | -55,050 | -$18.1M | $0 |
| ADD | VANGUARD INDEX FDS | 922908363 | +53,366 | +$17.9M | -$466,679 |
| EXITED | EA SERIES TRUST | 02072L516 | -192,048 | -$17.2M | $0 |
| REDUCE | EA SERIES TRUST | 02072L102 | -337,818 | -$12.9M | -$3.7M |
| ADD | NETFLIX INC | NFLX | +131,223 | +$12.3M | -$16.9M |
| EXITED | EA SERIES TRUST | 02072L201 | -367,721 | -$11.1M | $0 |
| EXITED | EA SERIES TRUST | 02072L409 | -152,306 | -$9.8M | $0 |
| EXITED | EA SERIES TRUST | 02072L300 | -226,820 | -$8.3M | $0 |
| ADD | ALPHABET INC | GOOG | +26,112 | +$8.2M | +$12.5M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025497 pos · $2.10B
- 13F HOLDINGS REPORTQ/E Sep 2025506 pos · $2.10B
- 13F HOLDINGS REPORTQ/E Jun 2025508 pos · $1.91B
- 13F HOLDINGS REPORTQ/E Mar 2025504 pos · $1.66B
- 13F HOLDINGS REPORTQ/E Dec 2024500 pos · $1.73B
- 13F HOLDINGS REPORTQ/E Sep 2024502 pos · $1.72B
- 13F HOLDINGS REPORTQ/E Jun 2024502 pos · $1.60B
- 13F HOLDINGS REPORTQ/E Mar 2024514 pos · $1.63B
- 13F HOLDINGS REPORTQ/E Dec 2023510 pos · $1.36B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 817,366 | $152.4M | 11.82% |
| 2 | APPLE INC | AAPL | 502,037 | $136.5M | 10.58% |
| 3 | MICROSOFT CORP | MSFT | 246,082 | $119.0M | 9.23% |
| 4 | AMAZON COM INC | AMZN | 343,053 | $79.2M | 6.14% |
| 5 | ALPHABET INC | GOOG | 204,666 | $64.2M | 4.98% |
| 6 | ALPHABET INC | GOOG | 197,774 | $61.9M | 4.80% |
| 7 | BROADCOM INC | AVGO | 143,025 | $49.5M | 3.84% |
| 8 | META PLATFORMS INC | META | 74,557 | $49.2M | 3.82% |
| 9 | TESLA INC | TSLA | 79,445 | $35.7M | 2.77% |
| 10 | JPMORGAN CHASE & CO. | VYLD | 100,496 | $32.4M | 2.51% |
| 11 | ELI LILLY & CO | LLY | 26,651 | $28.6M | 2.22% |
| 12 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 49,871 | $25.1M | 1.94% |
| 13 | VANGUARD INDEX FDS | 922908363 | 55,050 | $18.5M | 1.43% |
| 14 | EXXON MOBIL CORP | XOM | 151,773 | $18.3M | 1.42% |
| 15 | EA SERIES TRUST | 02072L102 | 192,048 | $17.2M | 1.34% |
| 16 | JOHNSON & JOHNSON | JNJ | 82,576 | $17.1M | 1.33% |
| 17 | MASTERCARD INCORPORATED | MA | 28,105 | $16.0M | 1.24% |
| 18 | WALMART INC | WMT | 142,577 | $15.9M | 1.23% |
| 19 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 51,072 | $15.5M | 1.20% |
| 20 | VISA INC | V | 43,396 | $15.2M | 1.18% |