Empirical Finance, LLC Top Holdings and 13F Report (2025)

About Empirical Finance, LLC

Investment Activity

Empirical Finance, LLC has $1.66 billion in total holdings as of December 31, 2024.
Empirical Finance, LLC owns shares of 504 different stocks, but just 142 companies or ETFs make up 80% of its holdings.
Approximately 2.45% of the portfolio was purchased this quarter.
About 1.87% of the portfolio was sold this quarter.
This quarter, Empirical Finance, LLC has purchased 500 new stocks and bought additional shares in 436 stocks.
Empirical Finance, LLC sold shares of 27 stocks and completely divested from 11 stocks this quarter.

Largest Holdings

Apple: $114,006,001
Microsoft: $94,012,296
NVIDIA: $90,635,159
Amazon.com: $61,090,393
Meta Platforms: $44,293,266

Largest New Holdings this Quarter

29273V100 - Energy Transfer: $4,469,873 Holding
05465C100 - Axos Financial: $2,678,548 Holding
400501102 - Grupo Aeroportuario del Centro Norte: $2,257,703 Holding
279158109 - Ecopetrol: $1,806,224 Holding
313148306 - Federal Agricultural Mortgage: $1,672,402 Holding

Largest Purchases this Quarter

Energy Transfer: 240,445 shares (about $4.47M)
Axos Financial: 41,515 shares (about $2.68M)
Grupo Aeroportuario del Centro Norte: 28,713 shares (about $2.26M)
Ecopetrol: 173,010 shares (about $1.81M)
Federal Agricultural Mortgage: 8,919 shares (about $1.67M)

Largest Sales this Quarter

Alpha Architect U.S. Quantitative Value ETF: 101,202 shares (about $4.32M)
Microsoft: 8,700 shares (about $3.27M)
NVIDIA: 29,763 shares (about $3.23M)
Alpha Architect International Quantitative Value ETF: 110,437 shares (about $2.82M)
Alpha Architect U.S. Quantitative Momentum ETF: 44,878 shares (about $2.67M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
AAPL Apple	$114,006,001	$1,146,635 ▲	1.0%	513,240	6.9%	Computer and Technology
MSFT Microsoft	$94,012,296	$3,265,893 ▼	-3.4%	250,439	5.7%	Computer and Technology
NVDA NVIDIA	$90,635,159	$3,225,714 ▼	-3.4%	836,272	5.5%	Computer and Technology
AMZN Amazon.com	$61,090,393	$261,988 ▲	0.4%	321,089	3.7%	Retail/Wholesale
META Meta Platforms	$44,293,266	$1,495,654 ▼	-3.3%	76,850	2.7%	Computer and Technology
GOOGL Alphabet	$31,534,498	$1,071,964 ▼	-3.3%	203,922	1.9%	Computer and Technology
GOOG Alphabet	$28,397,146	$37,495 ▼	-0.1%	181,765	1.7%	Computer and Technology
BRK.B Berkshire Hathaway	$27,046,010	$410,087 ▲	1.5%	50,783	1.6%	Finance
JPM JPMorgan Chase & Co.	$24,750,525	$258,546 ▲	1.1%	100,899	1.5%	Finance
AVGO Broadcom	$23,954,210	$289,654 ▲	1.2%	143,070	1.4%	Computer and Technology
LLY Eli Lilly and Company	$22,693,529	$249,425 ▲	1.1%	27,477	1.4%	Medical
TSLA Tesla	$21,195,919	$284,558 ▲	1.4%	81,787	1.3%	Auto/Tires/Trucks
QVAL Alpha Architect U.S. Quantitative Value ETF	$18,954,856	$4,316,266 ▼	-18.5%	444,428	1.1%	ETF
XOM Exxon Mobil	$18,604,241	$203,371 ▲	1.1%	156,430	1.1%	Energy
UNH UnitedHealth Group	$16,851,133	$186,455 ▲	1.1%	32,174	1.0%	Medical
MA Mastercard	$15,831,898	$177,043 ▲	1.1%	28,884	1.0%	Business Services
V Visa	$15,591,965	$250,579 ▲	1.6%	44,490	0.9%	Business Services
COST Costco Wholesale	$14,442,061	$171,186 ▲	1.2%	15,270	0.9%	Retail/Wholesale
VTI Vanguard Total Stock Market ETF	$14,397,768	$800,884 ▼	-5.3%	52,386	0.9%	ETF
JNJ Johnson & Johnson	$14,116,632	$159,704 ▲	1.1%	85,122	0.9%	Medical
NFLX Netflix	$14,050,430	$161,328 ▲	1.2%	15,067	0.8%	Consumer Discretionary
PG Procter & Gamble	$13,989,267	$161,217 ▲	1.2%	82,087	0.8%	Consumer Staples
WMT Walmart	$12,857,109	$152,052 ▲	1.2%	146,453	0.8%	Retail/Wholesale
HD Home Depot	$12,813,223	$146,230 ▲	1.2%	34,962	0.8%	Retail/Wholesale
ABBV AbbVie	$12,754,530	$152,321 ▲	1.2%	60,875	0.8%	Medical
IVAL Alpha Architect International Quantitative Value ETF	$11,201,129	$2,820,561 ▼	-20.1%	438,572	0.7%	ETF
CVX Chevron	$10,186,957	$116,936 ▲	1.2%	60,894	0.6%	Energy
BAC Bank of America	$10,060,394	$113,380 ▲	1.1%	241,083	0.6%	Finance
KO Coca-Cola	$9,623,794	$119,176 ▲	1.3%	134,373	0.6%	Consumer Staples
CSCO Cisco Systems	$9,537,712	$105,030 ▲	1.1%	154,557	0.6%	Computer and Technology
QMOM Alpha Architect U.S. Quantitative Momentum ETF	$9,517,995	$2,665,747 ▼	-21.9%	160,236	0.6%	ETF
WFC Wells Fargo & Company	$9,131,832	$97,993 ▲	1.1%	127,202	0.6%	Finance
CRM Salesforce	$8,910,894	$106,002 ▲	1.2%	33,205	0.5%	Computer and Technology
T AT&T	$8,623,024	$98,952 ▲	1.2%	304,916	0.5%	Computer and Technology
PM Philip Morris International	$8,495,230	$109,841 ▲	1.3%	53,520	0.5%	Consumer Staples
ABT Abbott Laboratories	$7,998,928	$100,018 ▲	1.3%	60,301	0.5%	Medical
MRK Merck & Co., Inc.	$7,905,881	$96,672 ▲	1.2%	88,078	0.5%	Medical
IBM International Business Machines	$7,772,614	$100,459 ▲	1.3%	31,258	0.5%	Computer and Technology
GE GE Aerospace	$7,525,240	$93,870 ▲	1.3%	37,598	0.5%	Industrials
PEP PepsiCo	$7,124,099	$91,463 ▲	1.3%	47,513	0.4%	Consumer Staples
IMOM Alpha Architect International Quantitative Momentum ETF	$6,841,433	$2,083,026 ▼	-23.3%	242,518	0.4%	ETF
TMO Thermo Fisher Scientific	$6,680,794	$85,090 ▲	1.3%	13,426	0.4%	Medical
QQQ Invesco QQQ	$6,563,473	$666,804 ▼	-9.2%	13,997	0.4%	Finance
VZ Verizon Communications	$6,556,425	$87,726 ▲	1.4%	144,542	0.4%	Computer and Technology
RTX RTX	$6,444,841	$78,814 ▲	1.2%	48,655	0.4%	Aerospace
ORCL Oracle	$6,374,637	$101,083 ▲	1.6%	45,595	0.4%	Computer and Technology
CMCSA Comcast	$6,324,955	$73,468 ▲	1.2%	171,408	0.4%	Consumer Discretionary
GS The Goldman Sachs Group	$6,221,697	$75,934 ▲	1.2%	11,389	0.4%	Finance
DIS Walt Disney	$6,220,173	$77,776 ▲	1.3%	63,021	0.4%	Consumer Discretionary
ADBE Adobe	$6,054,788	$76,706 ▲	1.3%	15,787	0.4%	Computer and Technology
ISRG Intuitive Surgical	$6,000,691	$79,738 ▲	1.3%	12,116	0.4%	Medical
VMOT Alpha Architect Value Momentum Trend ETF	$5,970,994	$410,328 ▼	-6.4%	243,291	0.4%	ETF
INTU Intuit	$5,914,566	$81,047 ▲	1.4%	9,633	0.4%	Computer and Technology
BKNG Booking	$5,878,417	$82,924 ▲	1.4%	1,276	0.4%	Retail/Wholesale
AMGN Amgen	$5,845,301	$79,445 ▲	1.4%	18,762	0.4%	Medical
CAT Caterpillar	$5,839,109	$72,226 ▲	1.3%	17,705	0.4%	Industrials
AMD Advanced Micro Devices	$5,722,207	$76,028 ▲	1.3%	55,696	0.3%	Computer and Technology
PGR Progressive	$5,705,765	$82,073 ▲	1.5%	20,161	0.3%	Finance
PTIN Pacer Trendpilot International ETF	$5,661,076	$362,864 ▼	-6.0%	193,079	0.3%	ETF
TXN Texas Instruments	$5,650,487	$76,732 ▲	1.4%	31,444	0.3%	Computer and Technology
AXP American Express	$5,488,082	$68,070 ▲	1.3%	20,398	0.3%	Finance
NOW ServiceNow	$5,314,234	$74,041 ▲	1.4%	6,675	0.3%	Computer and Technology
SPGI S&P Global	$5,313,710	$78,247 ▲	1.5%	10,458	0.3%	Business Services
MS Morgan Stanley	$5,232,299	$65,569 ▲	1.3%	44,847	0.3%	Finance
UNP Union Pacific	$5,054,827	$68,982 ▲	1.4%	21,397	0.3%	Transportation
BSX Boston Scientific	$5,015,854	$70,717 ▲	1.4%	49,721	0.3%	Medical
COP ConocoPhillips	$4,976,153	$66,583 ▲	1.4%	47,383	0.3%	Energy
PFE Pfizer	$4,967,121	$67,683 ▲	1.4%	196,019	0.3%	Medical
NEE NextEra Energy	$4,953,651	$70,323 ▲	1.4%	69,878	0.3%	Utilities
LOW Lowe's Companies	$4,884,769	$62,506 ▲	1.3%	20,944	0.3%	Retail/Wholesale
HON Honeywell International	$4,879,144	$66,913 ▲	1.4%	23,042	0.3%	Multi-Sector Conglomerates
GILD Gilead Sciences	$4,861,513	$71,824 ▲	1.5%	43,387	0.3%	Medical
TJX TJX Companies	$4,857,506	$65,894 ▲	1.4%	39,881	0.3%	Retail/Wholesale
TMUS T-Mobile US	$4,804,247	$65,877 ▲	1.4%	18,013	0.3%	Computer and Technology
C Citigroup	$4,775,213	$63,039 ▲	1.3%	67,266	0.3%	Finance
BLACKROCK INC	$4,721,989	$68,147 ▲	1.5%	4,989	0.3%	COM
QCOM QUALCOMM	$4,660,067	$85,100 ▲	1.9%	30,337	0.3%	Computer and Technology
DHR Danaher	$4,642,020	$63,960 ▲	1.4%	22,644	0.3%	Medical
FI Fiserv	$4,567,648	$63,599 ▲	1.4%	20,684	0.3%	Business Services
ELV Elevance Health	$4,540,112	$60,024 ▲	1.3%	10,438	0.3%	Medical
ET Energy Transfer	$4,469,873	$4,469,873 ▲	New Holding	240,445	0.3%	Energy
BMY Bristol-Myers Squibb	$4,428,606	$61,539 ▲	1.4%	72,612	0.3%	Medical
ADP Automatic Data Processing	$4,383,439	$62,634 ▲	1.4%	14,347	0.3%	Business Services
DE Deere & Company	$4,364,016	$60,546 ▲	1.4%	9,298	0.3%	Industrials
CAOS Alpha Architect Tail Risk ETF	$4,349,842	$110,292 ▲	2.6%	49,457	0.3%	ETF
VRTX Vertex Pharmaceuticals	$4,337,200	$64,481 ▲	1.5%	8,946	0.3%	Medical
SYK Stryker	$4,316,611	$63,283 ▲	1.5%	11,596	0.3%	Medical
AMAT Applied Materials	$4,254,338	$57,032 ▲	1.4%	29,316	0.3%	Computer and Technology
MMC Marsh & McLennan Companies	$4,181,210	$62,960 ▲	1.5%	17,134	0.3%	Finance
MO Altria Group	$4,013,958	$64,522 ▲	1.6%	66,877	0.2%	Consumer Staples
CI The Cigna Group	$3,937,801	$58,233 ▲	1.5%	11,969	0.2%	Medical
SCHW Charles Schwab	$3,930,595	$66,381 ▲	1.7%	50,212	0.2%	Finance
SBUX Starbucks	$3,898,293	$56,206 ▲	1.5%	39,742	0.2%	Retail/Wholesale
CVS CVS Health	$3,620,154	$57,317 ▲	1.6%	53,434	0.2%	Medical
ADI Analog Devices	$3,511,276	$53,241 ▲	1.5%	17,411	0.2%	Computer and Technology
LMT Lockheed Martin	$3,487,018	$50,925 ▲	1.5%	7,806	0.2%	Aerospace
SO Southern	$3,450,792	$55,998 ▲	1.6%	37,529	0.2%	Utilities
LAM RESEARCH CORP	$3,373,062	$49,363 ▲	1.5%	46,397	0.2%	COM NEW
PTNQ Pacer Trendpilot 100 ETF	$3,362,466	$215,941 ▼	-6.0%	47,352	0.2%	ETF
BA Boeing	$3,362,052	$64,468 ▲	2.0%	19,713	0.2%	Aerospace

Showing largest 100 holdings. View all holdings.

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Empirical Finance, LLC Top Holdings and 13F Report (2025)

About Empirical Finance, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

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Empirical Finance, LLC Top Holdings and 13F Report (2025)

About Empirical Finance, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofEmpirical Finance, LLC

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools