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Empirical Asset Management, LLC — 13F Holdings & Portfolio

CIK 1926596 · latest 13F-HR filed 2026-08-10

Backtest portfolio

Empirical Asset Management, LLC manages $444.0M in 13F-reported U.S. long-equity assets across 448 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are AAPL (4.67%), SPY (2.63%), NVDA (2.23%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 114 new positions and exited 61; 209 existing positions rose in reported value and 65 fell.

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.

Loading holdings…
AUM
$444.0M

Long-equity book

Holdings
448

Distinct positions

Period
2026-06-30

Filed 2026-08-10

Q/Q Activity
+114 / −61 / ↑209 / ↓65

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
AAPL4.7% · -6%SPY2.6% · -18%NVDA2.2% · +27%SGOL2.0% · +10%IYW1.8% · -8%MU1.6% · +60%LLY1.3% · +37%SDCI1.2% · -42%GOOGL1.2% · +39%AMZN1.0% · -1%MSFT1.0% · -14%JPM1.0% · -4%RSPT0.9% · -9%HD0.9% · -3%ILS0.9% · +31%CSCO0.9% · +65%GOOG0.9% · +10%SLV0.8% · -31%META0.8% · -35%GLD0.7% · -10%ARM0.7% · -8%XLRE0.7% · +16%IVV0.6% · -11%SETM0.6% · newDELL0.6% · -8%IWF0.6% · +313%IWM0.6% · +1%QQQ0.6% · +34%SPYM0.6% · +53%CECO0.6% · 0%QCOM0.6% · -8%IGOV0.6% · +11%IBB0.6% · 0%AMD0.6% · -2%KLAC0.6% · +691%PWB0.6% · +3%LRCX0.6% · +139%FTC0.6% · +5%SCHR0.5% · +12%CTA0.5% · +16%AMAT0.5% · +64%AVGO0.5% · +142%PSLV0.5% · newCOWG0.5% · +9%IYH0.5% · -6%JNJ0.5% · +59%SMLF0.5% · +2%WMT0.5% · -11%FNY0.5% · +4%PG0.5% · -0%REMX0.5% · newAGG0.5% · -15%FYC0.5% · +3%MRK0.5% · -6%CZA0.4% · +5%CVX0.4% · -1%JPME0.4% · +4%SHY0.4% · +9%VV0.4% · -53%IEFA0.4% · +1%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 19.6%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 7, 2026.

Assets Under Management
$560.0M
Discretionary
$539.7M
Employees
14
Accounts
1,399
Address
57 RIVER STREET
SUITE 301
WELLESLEY, MA 02481
Phone
(781) 431-2223
Website
Name Title / Status Ownership Type
CALDICOTT, GLENN, ANDREW ControlCHIEF INVESTMENT OFFICER
since Nov 2021
Less than 5%Individual
FISKIO, MARK, HENRY ControlMANAGING MEMBER AND CHIEF COMPLIANCE OFFICER
since Sep 2010
50–75%Individual
SEVEN HILLS FOUNDATIONINVESTOR
since Aug 2011
5–10%Domestic Entity
WADSWORTH, ROBERT, MANNINGINVESTOR MEMBER
since Mar 2016
5–10%Individual
Ownership & leadership changes · 6 filings with changes since Mar 30, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 28, 2022 filing
  • AddedCALDICOTT, GLENN, ANDREW · CHIEF INVESTMENT OFFICER · Less than 5% · control person
Apr 29, 2021 filing
  • No longer listedBLENKO, DON, BALMAN · INVESTOR MEMBER · 5–10% · listed since Mar 2016
  • No longer listedMusser, Peter, Umstadt · INVESTOR MEMBER · 5–10% · listed since Mar 2016
Jul 23, 2018 filing
  • No longer listedMUSSER, PETER, MORGAN · INVESTOR MEMBER · 5–10% · listed since Mar 2016
  • AddedMusser, Peter, Umstadt · INVESTOR MEMBER · 5–10%
Jun 21, 2018 filing
  • No longer listedDAVIS, WILLIAM, HOLLAND · SENIOR MEMBER · 10–25% · control person · listed since Sep 2010
  • AddedBLENKO, DON, BALMAN · INVESTOR MEMBER · 5–10%
  • AddedMUSSER, PETER, MORGAN · INVESTOR MEMBER · 5–10%
  • AddedWADSWORTH, ROBERT, MANNING · INVESTOR MEMBER · 5–10%
Mar 27, 2018 filing
  • ChangedDAVIS, WILLIAM, HOLLAND · title SENIOR PARTNER → SENIOR MEMBER
  • ChangedFISKIO, MARK, HENRY · title MANAGING PARTNER AND CCO → MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER
Mar 28, 2014 filing
  • AddedSEVEN HILLS FOUNDATION · INVESTOR · 5–10%
  • ChangedFISKIO, MARK, HENRY · title MANAGING PARNTER AND CCO → MANAGING PARTNER AND CCO
Mar 30, 2012 filing (earliest on record)
  • ListedDAVIS, WILLIAM, HOLLAND · SENIOR PARTNER · 10–25% · control person
  • ListedFISKIO, MARK, HENRY · MANAGING PARNTER AND CCO · 50–75% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 209 →

Top Trims

Show all 65 →

New Positions

Show all 114 →

Exited Positions

Show all 61 →

Empirical Asset Management, LLC Holdings (2026-06-30)

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 APPLE INC AAPL 037833100 $20.8M 4.67% 71,730 SH
2 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $11.7M 2.63% 15,611 SH
3 NVIDIA CORPORATION NVDA 67066G104 $9.9M 2.23% 49,426 SH
4 ETFS GOLD TR SGOL 00326A104 $8.9M 1.99% 231,691 SH
5 ISHARES TR IYW 464287721 $8.2M 1.84% 32,446 SH
6 MICRON TECHNOLOGY INC MU 595112103 $7.0M 1.58% 6,072 SH
7 ELI LILLY & CO LLY 532457108 $5.6M 1.26% 4,661 SH
8 USCF ETF TR SDCI 90290T809 $5.5M 1.23% 206,224 SH
9 ALPHABET INC GOOGL 02079K305 $5.3M 1.19% 14,815 SH
10 AMAZON COM INC AMZN 023135106 $4.5M 1.01% 18,878 SH
11 MICROSOFT CORP MSFT 594918104 $4.4M 1.00% 11,857 SH
12 JPMORGAN CHASE & CO JPM 46625H100 $4.3M 0.97% 13,153 SH
13 INVESCO EXCHANGE TRADED FD T RSPT 46137V282 $4.0M 0.91% 62,304 SH
14 HOME DEPOT INC HD 437076102 $4.0M 0.90% 11,293 SH
15 ETF OPPORTUNITIES TRUST ILS 26923N470 $4.0M 0.90% 202,430 SH
16 CISCO SYS INC CSCO 17275R102 $4.0M 0.89% 33,743 SH
17 ALPHABET INC GOOG 02079K107 $3.9M 0.88% 11,031 SH
18 ISHARES SILVER TR SLV 46428Q109 $3.6M 0.81% 67,443 SH
19 META PLATFORMS INC META 30303M102 $3.4M 0.76% 6,013 SH
20 SPDR GOLD TR GLD 78463V107 $3.1M 0.69% 8,318 SH
21 ARM HOLDINGS PLC ARM 042068205 $3.0M 0.67% 8,380 SH
22 SELECT SECTOR SPDR TR XLRE 81369Y860 $2.9M 0.66% 66,438 SH
23 ISHARES TR IVV 464287200 $2.9M 0.65% 3,832 SH
24 SPROTT FDS TR SETM 85208P402 $2.9M 0.64% 91,514 SH
25 DELL TECHNOLOGIES INC DELL 24703L202 $2.8M 0.64% 6,596 SH
26 ISHARES TR IWF 464287614 $2.8M 0.64% 22,914 SH
27 ISHARES TR IWM 464287655 $2.8M 0.63% 9,292 SH
28 INVESCO QQQ TR QQQ 46090E103 $2.8M 0.62% 3,740 SH
29 SPDR SERIES TRUST SPYM 78464A854 $2.7M 0.62% 31,231 SH
30 CECO ENVIRONMENTAL CORP CECO 125141101 $2.7M 0.61% 30,025 SH
31 QUALCOMM INC QCOM 747525103 $2.7M 0.61% 14,688 SH
32 ISHARES TR IGOV 464288117 $2.7M 0.60% 65,230 SH
33 ISHARES TR IBB 464287556 $2.7M 0.60% 13,997 SH
34 ADVANCED MICRO DEVICES INC AMD 007903107 $2.6M 0.59% 4,493 SH
35 KLA CORP KLAC 482480100 $2.6M 0.58% 8,586 SH
36 INVESCO EXCHANGE TRADED FD T PWB 46137V746 $2.6M 0.58% 15,282 SH
37 LAM RESEARCH CORP LRCX 512807306 $2.5M 0.56% 5,743 SH
38 FIRST TR EXCHANGE-TRADED ALP FTC 33735K108 $2.4M 0.55% 12,603 SH
39 SCHWAB STRATEGIC TR SCHR 808524854 $2.4M 0.55% 98,159 SH
40 SIMPLIFY EXCHANGE TRADED FUN CTA 82889N699 $2.4M 0.54% 92,415 SH
41 APPLIED MATLS INC AMAT 038222105 $2.4M 0.53% 3,285 SH
42 BROADCOM INC AVGO 11135F101 $2.4M 0.53% 6,248 SH
43 SPROTT ASSET MANAGEMENT LP PSLV 85207K107 $2.3M 0.52% 122,100 SH
44 PACER FDS TR COWG 69374H360 $2.3M 0.51% 56,187 SH
45 ISHARES TR IYH 464287762 $2.2M 0.51% 33,476 SH
46 JOHNSON & JOHNSON JNJ 478160104 $2.2M 0.49% 8,572 SH
47 ISHARES TR SMLF 46434V290 $2.1M 0.48% 24,056 SH
48 WALMART INC WMT 931142103 $2.1M 0.48% 18,924 SH
49 FIRST TR EXCHANGE-TRADED ALP FNY 33737M102 $2.1M 0.47% 18,745 SH
50 PROCTER & GAMBLE CO PG 742718109 $2.1M 0.46% 13,999 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-10 $444.0M 448 0001951757-26-001200
2026-03-31 2026-05-11 $379.3M 396 0001951757-26-000815
2025-12-31 2026-02-06 $354.5M 356 0001951757-26-000393
2025-09-30 2025-11-12 $360.1M 368 0001951757-25-001374
Filer Information
Address
57 RIVER STREET
SUITE 301
WELLESLEY, MA 02481
Phone
(781) 431-2220
Filing Manager
Empirical Asset Management, LLC
WELLESLEY, MA
Signatory
Mark Fiskio
Chief Compliance Officer