Empirical Finance, LLC Top Holdings and 13F Report (2025) About Empirical Finance, LLCInvestment ActivityEmpirical Finance, LLC has $2.13 billion in total holdings as of June 30, 2025.Empirical Finance, LLC owns shares of 483 different stocks, but just 126 companies or ETFs make up 80% of its holdings.Approximately 13.11% of the portfolio was purchased this quarter.About 1.15% of the portfolio was sold this quarter.This quarter, Empirical Finance, LLC has purchased 481 new stocks and bought additional shares in 59 stocks.Empirical Finance, LLC sold shares of 369 stocks and completely divested from 20 stocks this quarter.Largest Holdings NVIDIA $142,307,435Apple $127,195,234Microsoft $90,966,686Amazon.com $78,520,498Alphabet $67,104,012 Largest New Holdings this Quarter 02079K305 - Alphabet $56,771,821 Holding922908769 - Vanguard Total Stock Market ETF $17,660,591 Holding02072L516 - Alpha Architect Tail Risk ETF $16,977,838 Holding140501107 - Capital Southwest $13,689,316 Holding02072L201 - Alpha Architect International Quantitative Value ETF $10,013,858 Holding Largest Purchases this Quarter Alphabet 197,426 shares (about $56.77M)Vanguard Total Stock Market ETF 55,050 shares (about $17.66M)Alpha Architect Tail Risk ETF 187,063 shares (about $16.98M)Taiwan Semiconductor Manufacturing 44,158 shares (about $14.92M)Capital Southwest 618,866 shares (about $13.69M) Largest Sales this Quarter SPDR Gold Shares 2,500 shares (about $1.08M)AutoZone 202 shares (about $682.31K)ATN International 20,732 shares (about $564.32K)NVIDIA 1,383 shares (about $241.20K)Apple 854 shares (about $216.74K) Sector Allocation Over TimeMap of 500 Largest Holdings ofEmpirical Finance, LLC Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorNVDANVIDIA$142,307,435$241,195 â–¼-0.2%815,9836.7%Computer and TechnologyAAPLApple$127,195,234$216,737 â–¼-0.2%501,1836.0%Computer and TechnologyMSFTMicrosoft$90,966,686$125,488 â–¼-0.1%245,7434.3%Computer and TechnologyAMZNAmazon.com$78,520,498$7,072,849 â–²9.9%377,0133.7%Retail/WholesaleGOOGAlphabet$67,104,012$10,370,563 â–²18.3%233,9263.2%Computer and TechnologyGOOGLAlphabet$56,771,821$56,771,821 â–²New Holding197,4262.7%Computer and TechnologyAVGOBroadcom$44,271,691$4,024 â–²0.0%143,0382.1%Computer and TechnologyMETAMeta Platforms$42,593,934$62,362 â–¼-0.1%74,4482.0%Computer and TechnologyTSMTaiwan Semiconductor Manufacturing$32,182,979$14,923,196 â–²86.5%95,2301.5%Computer and TechnologyTSLATesla$29,526,616$7,063 â–¼0.0%79,4261.4%Auto/Tires/TrucksJPMJPMorgan Chase & Co.$29,486,010$75,893 â–¼-0.3%100,2381.4%FinanceETEnergy Transfer$27,111,791$12,597,322 â–²86.8%1,404,7561.3%EnergyXOMExxonMobil$25,683,331$66,507 â–¼-0.3%151,3811.2%EnergyLLYEli Lilly and Company$24,472,320$40,470 â–¼-0.2%26,6071.1%MedicalBRK.BBerkshire Hathaway$24,017,983$119,800 â–²0.5%50,1211.1%FinanceJNJJohnson & Johnson$20,150,411$34,466 â–¼-0.2%82,4350.9%MedicalOMABGrupo Aeroportuario del Centro Norte$19,313,992$8,251,840 â–²74.6%168,3430.9%TransportationPACGrupo Aeroportuario Del Pacifico$18,418,230$10,993,368 â–²148.1%74,6070.9%TransportationWESWestern Midstream Partners$18,204,921$8,457,183 â–²86.8%442,1890.9%EnergyWALMART INC$17,701,325$18,145 â–¼-0.1%142,4310.8%COMVTIVanguard Total Stock Market ETF$17,660,591$17,660,591 â–²New Holding55,0500.8%ETFCAOSAlpha Architect Tail Risk ETF$16,977,838$16,977,838 â–²New Holding187,0630.8%ETFCVXChevron$15,691,508$34,966 â–¼-0.2%75,8410.7%EnergyAXAxos Financial$15,169,930$7,038,219 â–²86.6%178,2810.7%FinanceCOSTCostco Wholesale$14,800,971$22,918 â–¼-0.2%14,8540.7%Retail/WholesaleQVALAlpha Architect U.S. Quantitative Value ETF$14,381,328$12,484,945 â–²658.4%275,8140.7%ETFNFLXNetflix$14,058,572$30,383 â–¼-0.2%146,2150.7%Consumer DiscretionaryMAMastercard$14,015,963$26,982 â–¼-0.2%28,0510.7%Business ServicesCSWCCapital Southwest$13,689,316$13,689,316 â–²New Holding618,8660.6%FinanceCATCaterpillar$13,518,125$33,298 â–¼-0.2%19,0810.6%IndustrialsVVisa$13,106,335$9,672 â–¼-0.1%43,3640.6%Business ServicesABBVAbbVie$12,860,184$21,532 â–¼-0.2%59,1300.6%MedicalMUMicron Technology$12,489,945$3,041 â–¼0.0%36,9700.6%Computer and TechnologyMPLXMplx$12,412,383$5,759,904 â–²86.6%217,4940.6%EnergyPGProcter & Gamble$11,907,778$19,933 â–¼-0.2%82,4410.6%Consumer StaplesHDHome Depot$11,631,524$20,062 â–¼-0.2%35,3660.5%Retail/WholesaleBACBank of America$11,362,114$26,081 â–¼-0.2%233,0690.5%FinanceMSMorgan Stanley$11,297,401$366,004 â–²3.3%68,6480.5%FinanceCSCOCisco Systems$11,259,550$22,191 â–¼-0.2%145,1160.5%Computer and TechnologyAMDAdvanced Micro Devices$10,997,833$17,495 â–¼-0.2%54,0620.5%Computer and TechnologyMRKMerck & Co., Inc.$10,939,654$24,900 â–¼-0.2%90,9440.5%MedicalGEGE Aerospace$10,362,713$18,729 â–¼-0.2%36,5180.5%AerospaceIVALAlpha Architect International Quantitative Value ETF$10,013,858$10,013,858 â–²New Holding294,8730.5%ETFKOCocaCola$9,918,365$16,275 â–¼-0.2%130,4190.5%Consumer StaplesWFCWells Fargo & Company$9,740,443$38,133 â–¼-0.4%122,3520.5%FinanceAMATApplied Materials$9,711,963$21,875 â–¼-0.2%28,4150.5%Computer and TechnologyLAM RESEARCH CORP$9,617,478$22,648 â–¼-0.2%45,0130.5%COM NEWGSThe Goldman Sachs Group$9,322,810$30,456 â–¼-0.3%11,0200.4%FinanceRTXRTX$9,101,022$20,833 â–¼-0.2%47,1800.4%AerospaceUNHUnitedHealth Group$8,791,199$11,906 â–¼-0.1%32,4890.4%MedicalPMPhilip Morris International$8,600,821$14,385 â–¼-0.2%52,0190.4%Consumer StaplesVMOTAlpha Architect Value Momentum Trend ETF$8,279,891$8,279,891 â–²New Holding264,1400.4%ETFVZVerizon Communications$8,143,243$10,994 â–¼-0.1%162,2160.4%Computer and TechnologySFMSprouts Farmers Market$8,120,786$7,735,136 â–²2,005.7%105,2870.4%Retail/WholesaleTAT&T$8,105,749$12,321 â–¼-0.2%279,6050.4%Computer and TechnologyASRGrupo Aeroportuario del Sureste$7,686,621$7,686,621 â–²New Holding22,8680.4%TransportationCCitigroup$7,391,270$21,434 â–¼-0.3%65,1730.3%Financial ServicesIBMInternational Business Machines$7,373,504$7,999 â–¼-0.1%30,4200.3%Computer and TechnologyGE VERNOVA INC$7,310,538$13,966 â–¼-0.2%8,3750.3%COMPEPPepsiCo$7,162,907$10,560 â–¼-0.1%46,1260.3%Consumer StaplesQQQInvesco QQQ$7,039,8640.0%12,1970.3%FinanceKRKroger$6,951,046$4,342 â–¼-0.1%96,0620.3%Retail/WholesaleKLACKLA$6,858,486$16,197 â–¼-0.2%4,6580.3%Computer and TechnologyORCLOracle$6,541,246$1,030 â–¼0.0%44,4650.3%Computer and TechnologyTXTernium$6,471,016$2,651,586 â–²69.4%161,1710.3%Basic MaterialsAMGNAmgen$6,418,096$10,204 â–¼-0.2%18,2410.3%MedicalTMOThermo Fisher Scientific$6,410,571$13,763 â–¼-0.2%13,0420.3%MedicalNEENextEra Energy$6,309,431$6,223 â–¼-0.1%67,9310.3%UtilitiesPTINPacer Trendpilot International ETF$6,278,929$6,278,929 â–²New Holding193,0790.3%ETFINTCIntel$6,263,371$971 â–¼0.0%141,9300.3%Computer and TechnologyTJXTJX Companies$6,181,827$13,734 â–¼-0.2%38,7090.3%Retail/WholesaleAGMFederal Agricultural Mortgage$6,170,173$2,850,842 â–²85.9%41,5920.3%FinanceMEDPMedpace$6,080,646$2,721,237 â–²81.0%12,6630.3%MedicalCOPConocoPhillips$6,051,000$14,520 â–¼-0.2%45,8400.3%EnergyCRMSalesforce$6,018,241$11,387 â–¼-0.2%32,2400.3%Computer and TechnologyABTAbbott Laboratories$6,017,591$8,316 â–¼-0.1%58,6110.3%MedicalAXPAmerican Express$5,972,468$16,031 â–¼-0.3%19,7450.3%FinanceTXNTexas Instruments$5,927,871$10,289 â–¼-0.2%30,5340.3%Computer and TechnologyDISWalt Disney$5,874,361$13,108 â–¼-0.2%60,9500.3%Consumer DiscretionaryGILDGilead Sciences$5,872,216$10,592 â–¼-0.2%42,1340.3%MedicalISRGIntuitive Surgical$5,437,377$8,298 â–¼-0.2%11,7950.3%MedicalADIAnalog Devices$5,377,202$11,453 â–¼-0.2%16,9020.3%Computer and TechnologyPFEPfizer$5,348,706$7,778 â–¼-0.1%190,4810.3%MedicalLMTLockheed Martin$5,305,335$15,110 â–¼-0.3%8,7780.2%AerospaceBKNGBooking$5,225,007$21,052 â–¼-0.4%1,2410.2%Retail/WholesaleNEMNewmont$5,220,140$3,681 â–²0.1%48,2230.2%Basic MaterialsDEDeere & Company$5,080,966$9,576 â–¼-0.2%9,0200.2%IndustrialsAPHAmphenol$5,062,465$6,570 â–¼-0.1%40,0670.2%Computer and TechnologyHONHoneywell International$5,053,805$9,719 â–¼-0.2%22,3590.2%Multi-Sector ConglomeratesUNPUnion Pacific$5,038,490$10,918 â–¼-0.2%20,7670.2%TransportationIMOMAlpha Architect International Quantitative Momentum ETF$4,821,188$4,821,188 â–²New Holding121,0490.2%ETFLOWLowe's Companies$4,801,446$11,105 â–¼-0.2%20,3210.2%Retail/WholesaleGMGeneral Motors$4,740,063$19,892 â–¼-0.4%63,6250.2%Auto/Tires/TrucksBLACKROCK INC$4,667,179$11,541 â–¼-0.2%4,8530.2%COMSCHWCharles Schwab$4,617,895$2,819 â–¼-0.1%49,1370.2%FinanceVXUSVanguard Total International Stock ETF$4,397,1980.0%57,0250.2%ETFCMCSAComcast$4,382,983$12,029 â–¼-0.3%152,6640.2%Consumer DiscretionarySPGIS&P Global$4,326,133$11,059 â–¼-0.3%10,1710.2%FinanceMPCMarathon Petroleum$4,317,835$18,314 â–¼-0.4%17,6830.2%EnergyBMYBristol Myers Squibb$4,274,915$9,097 â–¼-0.2%70,4850.2%MedicalShowing largest 100 holdings. 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