Empirical Finance, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Empirical Finance, LLC reported 481 stock positions worth $2.1 billion. Its top holding was Nvidia (NVDA) at 7.3% of the portfolio, followed by Apple (AAPL, 6.5%) and Alphabet Class C (GOOG, 6.0%). Compared with Q3 2025, it opened 5 new positions, sold out of 32, added to 39 and reduced 409. The biggest buy was Alphabet Class C (GOOG, shares +125%) and the biggest sale an exit from Alphabet Class A (GOOGL).
- Most Recent 13F
- Q2 2026
- Location
- NEWTOWN SQUARE, PA
- CIK
- 0001572838
- Portfolio Value
- $2.1B (Q4 2025)
- SEC Filing
- 0001572838-26-000004 ↗ filed Feb 12, 2026
Holdings Value
Holdings 481 stocks · $2.1B
| NVDA Nvidia Corp. | 7.27% | 817,366 | $152.4M | Reduce -5.0% |
| AAPL Apple Inc. | 6.51% | 502,037 | $136.5M | Reduce -4.6% |
| GOOG Alphabet Inc. Class C | 6.02% | 402,440 | $126.1M | Add +125.4% |
| MSFT Microsoft Corp. | 5.68% | 246,082 | $119.0M | Reduce -4.2% |
| AMZN Amazon.com Inc. | 3.78% | 343,053 | $79.2M | Reduce -0.5% |
| QVAL Alpha Arch US QNT Value ETF | 2.92% | 1,271,921 | $61.2M | Add +196.7% |
| AVGO Broadcom Inc. | 2.36% | 143,025 | $49.5M | Reduce -4.5% |
| META Meta Platforms Inc. Class A | 2.35% | 74,557 | $49.2M | Reduce -4.5% |
| TSLA Tesla Inc. | 1.70% | 79,445 | $35.7M | Reduce -4.6% |
| JPM JPMorgan Chase & Co. | 1.54% | 100,496 | $32.4M | Reduce -4.7% |
| LLY Eli Lilly & Co. | 1.37% | 26,651 | $28.6M | Reduce -5.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.20% | 49,871 | $25.1M | Reduce -3.8% |
| VOO Vanguard S&P 500 ETF | 1.04% | 69,924 | $21.9M | Add +4052.3% |
| XOM Exxon Mobil Corp. | 0.87% | 151,773 | $18.3M | Reduce -4.4% |
| JNJ Johnson & Johnson | 0.82% | 82,576 | $17.1M | Reduce -4.5% |
| MA Mastercard Inc. Class A | 0.77% | 28,105 | $16.0M | Reduce -4.2% |
| WMT Walmart Inc. | 0.76% | 142,577 | $15.9M | Reduce -4.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.74% | 51,072 | $15.5M | Add +37.0% |
| V Visa Inc. Class A | 0.73% | 43,396 | $15.2M | Reduce -4.5% |
| NFLX Netflix Inc. | 0.66% | 146,531 | $13.7M | Reduce -4.3% |
| ABBV Abbvie Inc. | 0.65% | 59,229 | $13.5M | Reduce -4.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.61% | 233,604 | $12.8M | Reduce -4.5% |
| COST Costco Wholesale Corp. | 0.61% | 14,877 | $12.8M | Reduce -4.2% |
| ET Energy Transfer LP | 0.59% | 752,045 | $12.4M | Add +37.1% |
| HD Home Depot Inc. | 0.58% | 35,427 | $12.2M | Reduce -4.2% |
| PG The Procter & Gamble Co. | 0.56% | 82,579 | $11.8M | Reduce -4.2% |
| MS Morgan Stanley | 0.56% | 66,424 | $11.8M | Add +6.8% |
| AMD Advanced Micro Devices | 0.55% | 54,148 | $11.6M | Reduce -4.3% |
| CVX Chevron Corp. | 0.55% | 76,010 | $11.6M | Reduce -3.9% |
| PTMC Pacer Trendpilot US Mid Cap | 0.55% | 288,842 | $11.5M | Add +496.6% |
| WFC Wells Fargo & Co. | 0.55% | 122,831 | $11.4M | Reduce -4.7% |
| GE General Electric filed as GE AEROSPACE | 0.54% | 36,584 | $11.3M | Reduce -4.2% |
| CSCO Cisco Systems Inc. | 0.53% | 145,402 | $11.2M | Reduce -4.1% |
| CAT Caterpillar Inc. | 0.52% | 19,128 | $11.0M | Reduce -4.0% |
| UNH Unitedhealth Group Inc. | 0.51% | 32,533 | $10.7M | Reduce -7.3% |
| MU Micron Technology Inc. | 0.50% | 36,979 | $10.6M | Reduce -4.1% |
| OMAB Grupo Aeroportuario Cen-ADR | 0.50% | 96,419 | $10.5M | Add +37.1% |
| GS Goldman Sachs Group Inc. | 0.46% | 11,056 | $9.7M | Reduce -4.3% |
| MRK Merck & Co. Inc. | 0.46% | 91,151 | $9.6M | Reduce -6.0% |
| WES Western Midstream Partners L | 0.45% | 236,768 | $9.4M | Add +37.1% |
| KO The Coca-Cola Co. | 0.44% | 130,633 | $9.1M | Reduce -4.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.43% | 30,453 | $9.0M | Reduce -4.2% |
| RTX RTX Corp. | 0.41% | 47,288 | $8.7M | Reduce -4.3% |
| ORCL Oracle Corp. | 0.41% | 44,472 | $8.7M | Reduce -4.3% |
| CRM Salesforce Inc. | 0.41% | 32,301 | $8.6M | Reduce -4.3% |
| PM Philip Morris International | 0.40% | 52,106 | $8.4M | Reduce -4.2% |
| AX Axos Financial Inc. | 0.39% | 95,566 | $8.2M | Add +37.0% |
| PAC Grupo Aeroportuario Pac-ADR | 0.38% | 30,076 | $7.9M | Add +36.9% |
| LRCX Lam Research Corp. | 0.37% | 45,119 | $7.7M | Reduce -8.1% |
| C Citigroup Inc. | 0.36% | 65,362 | $7.6M | Reduce -4.3% |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 13,070 | $7.6M | Reduce -6.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.36% | 12,197 | $7.5M | No change |
| ABT Abbott Laboratories | 0.35% | 58,692 | $7.4M | Reduce -4.3% |
| AXP American Express Co. | 0.35% | 19,798 | $7.3M | Reduce -4.3% |
| AMAT Applied Materials Inc. | 0.35% | 28,479 | $7.3M | Reduce -4.2% |
| T AT&T Inc. | 0.33% | 280,030 | $7.0M | Reduce -3.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 61,086 | $6.9M | Reduce -4.6% |
| ISRG Intuitive Surgical Inc. | 0.32% | 11,813 | $6.7M | Reduce -6.4% |
| BKNG Booking Holdings Inc. | 0.32% | 1,246 | $6.7M | Reduce -3.9% |
| PEP Pepsico Inc. | 0.32% | 46,194 | $6.6M | Reduce -4.3% |
| VZ Verizon Communications Inc. | 0.32% | 162,435 | $6.6M | Reduce -3.7% |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.30% | 243,987 | $6.3M | Add +37.1% |
| MPLX MPLX LP | 0.30% | 116,567 | $6.2M | Add +37.0% |
| INTU Intuit Inc. | 0.30% | 9,387 | $6.2M | Reduce -4.1% |
| KR Kroger Co. | 0.29% | 96,122 | $6.0M | Reduce -1.0% |
| AMGN Amgen Inc. | 0.29% | 18,270 | $6.0M | Reduce -4.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 38,795 | $6.0M | Reduce -4.2% |
| KLAC KLA Corp. | 0.27% | 4,669 | $5.7M | Reduce -4.1% |
| GEV GE Vernova Inc. | 0.26% | 8,391 | $5.5M | Reduce -4.3% |
| NEE Nextera Energy Inc. | 0.26% | 67,998 | $5.5M | Reduce -4.3% |
| APH Amphenol Corp. Class A | 0.26% | 40,119 | $5.4M | Reduce -4.2% |
| COF Capital One Financial Corp. | 0.26% | 22,195 | $5.4M | Reduce -4.1% |
| ADBE Adobe Inc. | 0.26% | 15,319 | $5.4M | Reduce -4.4% |
| SPGI S&P Global Inc. | 0.25% | 10,197 | $5.3M | Reduce -4.2% |
| TXN Texas Instruments Inc. | 0.25% | 30,587 | $5.3M | Reduce -4.2% |
| INTC Intel Corp. | 0.25% | 141,952 | $5.2M | Reduce -4.1% |
| BLK BlackRock Inc. | 0.25% | 4,865 | $5.2M | Reduce -4.1% |
| GM General Motors Co. | 0.25% | 63,892 | $5.2M | Reduce -3.1% |
| GILD Gilead Sciences Inc. | 0.25% | 42,210 | $5.2M | Reduce -4.2% |
| QCOM Qualcomm Inc. | 0.24% | 29,530 | $5.1M | Reduce -8.9% |
| DHR Danaher Corp. | 0.24% | 22,030 | $5.0M | Reduce -4.3% |
| NOW ServiceNow Inc. | 0.24% | 32,513 | $5.0M | Reduce -4.3% |
| SCHW Schwab (charles) Corp. | 0.23% | 49,167 | $4.9M | Reduce -4.1% |
| LOW Lowe's Cos Inc. | 0.23% | 20,368 | $4.9M | Reduce -4.2% |
| UNP Union Pacific Corp. | 0.23% | 20,812 | $4.8M | Reduce -4.2% |
| NEM Newmont Corp. | 0.23% | 48,189 | $4.8M | Reduce -2.4% |
| PFE Pfizer Inc. | 0.23% | 190,758 | $4.7M | Reduce -4.2% |
| CPA Copa Holdings SA Class A | 0.22% | 38,850 | $4.7M | No change |
| BSX Boston Scientific Corp. | 0.22% | 48,449 | $4.6M | Reduce -4.2% |
| ADI Analog Devices Inc. | 0.22% | 16,938 | $4.6M | Reduce -4.2% |
| CMCSA Comcast Corp. Class A | 0.22% | 153,083 | $4.6M | Reduce -3.9% |
| PGR Progressive Corp. | 0.21% | 19,621 | $4.5M | Reduce -4.3% |
| HON Honeywell International Inc. | 0.21% | 22,402 | $4.4M | Reduce -4.3% |
| VXUS Vanguard Total Intl Stock | 0.21% | 57,025 | $4.3M | No change |
| COP Conocophillips | 0.21% | 45,950 | $4.3M | Reduce -4.4% |
| LMT Lockheed Martin Corp. | 0.20% | 8,803 | $4.3M | Reduce -3.6% |
| BA The Boeing Co. | 0.20% | 19,408 | $4.2M | Reduce -3.8% |
| DE Deere & Co. | 0.20% | 9,037 | $4.2M | Reduce -4.3% |
| ANET Arista Networks Inc. | 0.20% | 31,910 | $4.2M | Reduce -4.2% |
| CVS CVS Health Corp. | 0.20% | 52,332 | $4.2M | Reduce -3.5% |
Portfolio Sells Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −2.40 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −0.86 |
| CAOS Alpha Architect Tail Risk | Sold out | 0.00% | −0.82 |
| MSFT Microsoft Corp. | Reduce -4.2% | 5.68% | −0.66 |
| IVAL Alpha Archi Intl QT Vlu ETF | Sold out | 0.00% | −0.53 |
| QMOM Alpha US Quant Mom ETF | Sold out | 0.00% | −0.47 |
| IMOM Alpha Intl Quant Mom ETF | Sold out | 0.00% | −0.40 |
| META Meta Platforms Inc. Class A | Reduce -4.5% | 2.35% | −0.38 |
| AAVM Alpha Architect Global Facto | Sold out | 0.00% | −0.37 |
| NVDA Nvidia Corp. | Reduce -5.0% | 7.27% | −0.37 |
| PTIN Pacer Trendpilot Intl ETF | Sold out | 0.00% | −0.28 |
| NFLX Netflix Inc. | Reduce -4.3% | 0.66% | −0.22 |
| ORCL Oracle Corp. | Reduce -4.3% | 0.41% | −0.21 |
| EC Ecopetrol SA-Sponsored ADR | Sold out | 0.00% | −0.19 |
| PTNQ Pacer Trendpilot 100 ETF | Sold out | 0.00% | −0.17 |
| HD Home Depot Inc. | Reduce -4.2% | 0.58% | −0.13 |
| BOXX Alpha Architect 1-3 MNTH Box | Sold out | 0.00% | −0.11 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Sold out | 0.00% | −0.11 |
| PSMT Pricesmart Inc. | Reduce -80.5% | 0.02% | −0.09 |
| GPRK Geopark Ltd. | Sold out | 0.00% | −0.09 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -4.2% | 0.61% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -4.2% | 0.56% | −0.07 |
| FISV Fiserv Inc. | Reduce -4.6% | 0.06% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -7.3% | 0.51% | −0.06 |
| MOOD Relative Sentiment Tact Allo | Sold out | 0.00% | −0.06 |
| NOW ServiceNow Inc. | Reduce -4.3% | 0.24% | −0.06 |
| TSLA Tesla Inc. | Reduce -4.6% | 1.70% | −0.06 |
| T AT&T Inc. | Reduce -3.6% | 0.33% | −0.06 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.05 |
| CHTR Charter Communications Inc. Class A | Reduce -41.9% | 0.04% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.8% | 1.20% | −0.04 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.04 |
| AZO AutoZone Inc. | Reduce -2.7% | 0.14% | −0.04 |
| ABT Abbott Laboratories | Reduce -4.3% | 0.35% | −0.04 |
| TAP Molson Coors Beverage Co. Class B | Reduce -74.0% | 0.01% | −0.04 |
| TMUS T-Mobile US Inc. | Reduce -4.5% | 0.17% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -4.7% | 1.54% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -3.7% | 0.32% | −0.04 |
| EMN Eastman Chemical Co. | Reduce -74.5% | 0.01% | −0.04 |
| ABBV Abbvie Inc. | Reduce -4.3% | 0.65% | −0.04 |
| CROX Crocs Inc. | Sold out | 0.00% | −0.04 |
| BLK BlackRock Inc. | Reduce -4.1% | 0.25% | −0.03 |
| ADP Automatic Data Processing | Reduce -4.3% | 0.17% | −0.03 |
| CVX Chevron Corp. | Reduce -3.9% | 0.55% | −0.03 |
| ANET Arista Networks Inc. | Reduce -4.2% | 0.20% | −0.03 |
| ORLY O'reilly Automotive Inc. | Reduce -4.2% | 0.14% | −0.03 |
| DD Dupont DE Nemours Inc. | Reduce -4.0% | 0.03% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| MPC Marathon Petroleum Corp. | Reduce -3.5% | 0.14% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +125.4% | 6.02% | +3.95 |
| QVAL Alpha Arch US QNT Value ETF | Add +196.7% | 2.92% | +1.97 |
| VOO Vanguard S&P 500 ETF | Add +4052.3% | 1.04% | +0.99 |
| PTMC Pacer Trendpilot US Mid Cap | Add +496.6% | 0.55% | +0.47 |
| TSM Taiwan Semiconductor-SP ADR | Add +37.0% | 0.74% | +0.24 |
| OMAB Grupo Aeroportuario Cen-ADR | Add +37.1% | 0.50% | +0.15 |
| CAAP Corp. America Airports SA | Add +37.1% | 0.30% | +0.15 |
| ET Energy Transfer LP | Add +37.1% | 0.59% | +0.14 |
| PAC Grupo Aeroportuario Pac-ADR | Add +36.9% | 0.38% | +0.13 |
| WES Western Midstream Partners L | Add +37.1% | 0.45% | +0.12 |
| AX Axos Financial Inc. | Add +37.0% | 0.39% | +0.11 |
| GLD SPDR Gold Shares | Add +282.8% | 0.14% | +0.11 |
| MPLX MPLX LP | Add +37.0% | 0.30% | +0.09 |
| MS Morgan Stanley | Add +6.8% | 0.56% | +0.09 |
| MEDP Medpace Holdings Inc. | Add +34.6% | 0.19% | +0.06 |
| AGM Federal Agric MTG Corp. Class C | Add +36.6% | 0.19% | +0.06 |
| ALLY Ally Financial Inc. | New | 0.05% | +0.05 |
| CTSH Cognizant Tech Solutions-A | Add +36.5% | 0.10% | +0.04 |
| NGVC Natural Grocers BY Vitamin C | Add +95.2% | 0.18% | +0.03 |
| DLO Dlocal Ltd. | New | 0.03% | +0.03 |
| TX Ternium SA-Sponsored ADR | Add +10.0% | 0.17% | +0.03 |
| FOXA Fox Corp. Class A | Add +14.0% | 0.13% | +0.03 |
| BUR Burford Capital Ltd. | New | 0.03% | +0.03 |
| CRMT America's Car-Mart Inc. | Add +157.6% | 0.05% | +0.03 |
| CCS Century Communities Inc. | Add +37.1% | 0.11% | +0.02 |
| PKBK Parke Bancorp Inc. | Add +37.1% | 0.07% | +0.02 |
| TIGO Millicom Intl Cellular S.A. | Add +88.7% | 0.05% | +0.02 |
| SCI Service Corp. International | New | 0.02% | +0.02 |
| SFM Sprouts Farmers Market Inc. | New | 0.02% | +0.02 |
| HUM Humana Inc. | Add +34.0% | 0.07% | +0.02 |
| OMC Omnicom Group | Add +59.7% | 0.04% | +0.02 |
| CF CF Industries Holdings Inc. | Add +73.5% | 0.04% | +0.01 |
| DEO Diageo PLC-Sponsored ADR | Add +36.5% | 0.06% | +0.01 |
| AVDV Avantis Intl S/C Value ETF | Add +42.8% | 0.03% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +30.7% | 0.03% | +0.01 |
| ACWI iShares MSCI Acwi ETF | Add +1.7% | 0.09% | +0.00 |
| JBL Jabil Inc. | Add +0.4% | 0.06% | +0.00 |
| ABNB Airbnb Inc. Class A | Add +0.7% | 0.02% | +0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +7.6% | 0.03% | +0.00 |
| VST Vistra Corp. | Add +5.7% | 0.01% | −0.00 |
| WSM Williams-Sonoma Inc. | Add +1.3% | 0.03% | −0.00 |
| EME Emcor Group Inc. | Add +0.8% | 0.07% | −0.00 |
| BX Blackstone Inc. | Add +0.9% | 0.04% | −0.00 |
| UBER Uber Technologies Inc. | Add +3.7% | 0.05% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 505 | $2.4B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q1 2026Amended | 483 | $2.1B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q4 2025 | 481 | $2.1B | NVDA, AAPL, GOOG, MSFT, AMZN |
| Q3 2025 | 506 | $2.1B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 508 | $1.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 504 | $1.7B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 500 | $1.7B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 502 | $1.7B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 502 | $1.6B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 514 | $1.6B | MSFT, AAPL, NVDA, AMZN, META |