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Empirical Finance, LLC — 13F Holdings & Portfolio

CIK 1572838 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Empirical Finance, LLC manages $2.41B in 13F-reported U.S. long-equity assets across 505 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVDA (7.03%), AAPL (6.24%), MSFT (3.95%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 39 new positions, exited 17, added to 263, and trimmed 122.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
3803 WEST CHESTER PIKE
SUITE 150
NEWTOWN SQUARE, PA 19073
Phone
(215) 882-9983
Filing Manager
Empirical Finance, LLC
NEWTOWN SQUARE, PA
Signatory
Brian P, Massaro
Chief Technology Officer
Loading holdings…
AUM

$2.41B

Long-equity book

Holdings

505

Distinct positions

Period

2026-06-30

Filed 2026-08-14

Q/Q Activity

+39 / −17 / ↑263 / ↓122

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • MICRON TECHNOLOGY INC$31.6M +253.2%
  • NVIDIA CORPORATION$26.7M +18.8%
  • APPLE INC$22.8M +17.9%
  • ADVANCED MICRO DEVICES INC$21.5M +195.7%
  • ALPHABET INC$16.3M +28.6%
Show all 263 →

Top Trims

  • ENERGY TRANSFER L P-$7.3M -26.8%
  • GRUPO AEROPORTUARIO DEL CENT-$5.0M -26.1%
  • EA SERIES TRUST-$4.5M -26.5%
  • EXXON MOBIL CORP-$4.3M -16.8%
  • GRUPO AEROPORTUNARIO DEL PAC-$4.3M -23.2%
Show all 122 →

New Positions

  • HONEYWELL INTL INC$2.6M
  • HONEYWELL AEROSPACE INC$2.5M
  • BRITISH AMERN TOB PLC$1.2M
  • MOHAWK INDS INC$945.6K
  • BROWN FORMAN CORP$789.2K
Show all 39 →

Exited Positions

  • HONEYWELL INTL INC$5.1M
  • SPDR GOLD TR$2.1M
  • ATN INTL INC$1.2M
  • ALLY FINL INC$863.1K
  • COTERRA ENERGY INC$845.9K
Show all 17 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 NVIDIA CORPORATION NVDA 67066G104 $169.0M 7.03% 844,676 SH
2 APPLE INC AAPL 037833100 $150.0M 6.24% 518,315 SH
3 MICROSOFT CORP MSFT 594918104 $94.9M 3.95% 254,426 SH
4 AMAZON COM INC AMZN 023135106 $88.6M 3.68% 371,802 SH
5 ALPHABET INC GOOG 02079K107 $78.4M 3.26% 221,920 SH
6 ALPHABET INC GOOGL 02079K305 $73.0M 3.04% 204,352 SH
7 BROADCOM INC AVGO 11135F101 $56.3M 2.34% 148,958 SH
8 MICRON TECHNOLOGY INC MU 595112103 $44.1M 1.83% 38,219 SH
9 META PLATFORMS INC META 30303M102 $43.4M 1.80% 77,020 SH
10 TESLA INC TSLA 88160R101 $34.9M 1.45% 82,916 SH
11 JPMORGAN CHASE & CO JPM 46625H100 $33.8M 1.41% 103,311 SH
12 ELI LILLY & CO LLY 532457108 $33.0M 1.37% 27,524 SH
13 ADVANCED MICRO DEVICES INC AMD 007903107 $32.5M 1.35% 55,978 SH
14 TAIWAN SEMICONDUCTOR MANUFAC TSM 874039100 $29.7M 1.23% 62,160 SH
15 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $26.2M 1.09% 52,310 SH
16 JOHNSON & JOHNSON JNJ 478160104 $21.6M 0.90% 85,199 SH
17 EXXON MOBIL CORP XOM 30231G102 $21.4M 0.89% 156,210 SH
18 APPLIED MATLS INC AMAT 038222105 $21.2M 0.88% 29,292 SH
19 CATERPILLAR INC CAT 149123101 $20.9M 0.87% 19,601 SH
20 INTEL CORP INTC 458140100 $20.6M 0.86% 147,571 SH
21 LAM RESEARCH CORP LRCX 512807306 $20.1M 0.84% 46,390 SH
22 ENERGY TRANSFER L P ET 29273V100 $19.8M 0.82% 1,037,614 SH
23 CISCO SYS INC CSCO 17275R102 $17.6M 0.73% 149,734 SH
24 WALMART INC WMT 931142103 $16.7M 0.70% 147,788 SH
25 VISA INC V 92826C839 $15.6M 0.65% 45,436 SH
26 ABBVIE INC ABBV 00287Y109 $15.4M 0.64% 61,181 SH
27 MASTERCARD INCORPORATED MA 57636Q104 $14.9M 0.62% 28,985 SH
28 AXOS FINANCIAL INC AX 05465C100 $14.9M 0.62% 152,847 SH
29 VANGUARD INDEX FDS VTI 922908769 $14.8M 0.61% 39,868 SH
30 KLA CORP KLAC 482480100 $14.5M 0.60% 48,063 SH
31 WESTERN MIDSTREAM PARTNERS L WES 958669103 $14.4M 0.60% 330,016 SH
32 COSTCO WHOLESALE CORPORATION COST 22160K105 $14.4M 0.60% 15,385 SH
33 GRUPO AEROPORTUARIO DEL CENT OMAB 400501102 $14.3M 0.59% 126,166 SH
34 GRUPO AEROPORTUNARIO DEL PAC PAC 400506101 $14.1M 0.59% 55,844 SH
35 GE AEROSPACE GE 369604301 $14.1M 0.59% 37,719 SH
36 BANK OF AMER CORP BAC 060505104 $13.7M 0.57% 240,618 SH
37 UNITEDHEALTH GROUP INC UNH 91324P102 $13.4M 0.56% 32,262 SH
38 HOME DEPOT INC HD 437076102 $12.9M 0.54% 36,530 SH
39 CAPITAL SOUTHWEST CORP CSWC 140501107 $12.5M 0.52% 525,500 SH
40 PROCTER & GAMBLE CO PG 742718109 $12.5M 0.52% 85,156 SH
41 EA SERIES TRUST CAOS 02072L516 $12.5M 0.52% 138,121 SH
42 CHEVRON CORPORATION CVX 166764100 $12.3M 0.51% 74,091 SH
43 MORGAN STANLEY MS 617446448 $12.3M 0.51% 58,732 SH
44 EA SERIES TRUST QVAL 02072L102 $12.2M 0.51% 219,682 SH
45 MERCK & CO INC MRK 58933Y105 $12.0M 0.50% 93,774 SH
46 GOLDMAN SACHS GROUP INC GS 38141G104 $11.5M 0.48% 11,363 SH
47 COCA COLA CO KO 191216100 $11.0M 0.46% 134,955 SH
48 NETFLIX INC. NFLX 64110L106 $10.8M 0.45% 151,066 SH
49 WELLS FARGO & CO WFC 949746101 $10.4M 0.43% 125,751 SH
50 GE VERNOVA INC GEV 36828A101 $10.2M 0.42% 8,690 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $2.41B 505 0001572838-26-000007
2026-03-31 2026-05-15 $2.13B 483 0001572838-26-000006
2026-03-31 2026-05-14 $2.13B 483 0001572838-26-000005
2025-12-31 2026-02-12 $2.10B 496 0001572838-26-000004
2025-09-30 2025-11-13 $2.10B 506 0001572838-25-000012