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Asset Manager ← All Institutions

Empirical Finance, LLC

Q2 2025 · Filed 2025-08-11
Market Value
$1.9B
+15.3%
Holdings
544
+33
New Purchases
44
Added To
405
Closed
41
Reduced
44
Top 10 Concentration
34.8%
Turnover
15.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 7.06% 5.48% +1.58% $135M
MSFT 6.60% 5.68% +0.91% $126M
CAOS 0.97% 0.26% +0.71% $19M
AVGO 2.14% 1.45% +0.69% $41M
META 2.99% 2.68% +0.31% $57M
WES 0.25% 0.00% +0.25% $5M
TSM 0.25% 0.00% +0.25% $5M
KR 0.36% 0.13% +0.23% $7M
CPA 0.22% 0.00% +0.22% $4M
NFLX 1.06% 0.85% +0.22% $20M
PAC 0.19% 0.00% +0.19% $4M
PDLB 0.17% 0.00% +0.17% $3M
MPLX 0.16% 0.00% +0.16% $3M
ORCL 0.53% 0.39% +0.14% $10M
OMAB 0.28% 0.14% +0.14% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 5.61% 6.89% -1.28% $107M
UNH 0.57% 1.02% -0.45% $11M
BRK-B 1.30% 1.64% -0.33% $25M
LLY 1.13% 1.37% -0.24% $22M
XOM 0.89% 1.12% -0.24% $17M
ABBV 0.60% 0.77% -0.17% $11M
JNJ 0.69% 0.85% -0.17% $13M
CVX 0.46% 0.62% -0.16% $9M
PG 0.69% 0.85% -0.16% $13M
QVAL 1.00% 1.15% -0.14% $19M
T 0.41% 0.52% -0.11% $8M
TMO 0.30% 0.40% -0.11% $6M
V 0.84% 0.94% -0.11% $16M
MRK 0.38% 0.48% -0.10% $7M
MA 0.86% 0.96% -0.10% $16M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 57 $1.1B 58.0%
Large Cap 381 $648M 34.0%
Mid Cap 80 $52M 2.7%
Small Cap 17 $65M 3.4%
Micro Cap 9 $36M 1.9%

Portfolio Analytics

Avg Market Cap
$137.0B
Median Market Cap
$29.1B
Avg P/E
30.6
Median P/E
22.2
Avg Dividend Yield
0.02%
Avg Beta
0.92
# Stocks
522
# ETFs / Funds
22

Top Holdings (544 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 7.06% 852,382 $135M $157.99 $44M +16,110 +1.9%
2 MSFT 6.60% 252,896 $126M $497.41 $32M +2,457 +1.0%
3 AAPL 5.61% 521,839 $107M $205.17 -$7M +8,599 +1.7%
4 AMZN 3.83% 333,086 $73M $219.39 $12M +11,997 +3.7%
5 META 2.99% 77,335 $57M $738.09 $13M +485 +0.6%
6 AVGO 2.14% 148,179 $41M $275.65 $17M +5,109 +3.6%
7 GOOGL 1.91% 206,390 $36M $176.23 $5M +2,468 +1.2%
8 GOOG 1.74% 186,882 $33M $177.39 $5M +5,117 +2.8%
9 JPM 1.59% 104,514 $30M $289.91 $6M +3,615 +3.6%
10 TSLA 1.37% 82,363 $26M $317.66 $5M +576 +0.7%
11 BRK-B 1.30% 51,203 $25M $485.77 -$2M +420 +0.8%
12 LLY 1.13% 27,659 $22M $779.53 -$1M +182 +0.7%
13 NFLX 1.06% 15,165 $20M $1,339.13 $6M +98 +0.7%
14 QVAL 1.00% 435,049 $19M $44.01 $192K -9,379 -2.1%
15 CAOS 0.97% 208,963 $19M $88.84 $14M +159,506 +322.5%
16 XOM 0.89% 157,354 $17M $107.80 -$2M +924 +0.6%
17 VTI 0.88% 55,050 $17M $303.93 $2M +2,664 +5.1%
18 MA 0.86% 29,065 $16M $561.94 $501K +181 +0.6%
19 V 0.84% 44,891 $16M $355.05 $347K +401 +0.9%
20 COST 0.80% 15,367 $15M $989.94 $770K +97 +0.6%
21 WMT 0.76% 147,413 $14M $97.78 $2M +960 +0.7%
22 PG 0.69% 82,601 $13M $159.32 -$829K +514 +0.6%
23 JNJ 0.69% 85,653 $13M $152.75 -$1M +531 +0.6%
24 HD 0.68% 35,182 $13M $366.64 $86K +220 +0.6%
25 IVAL 0.64% 438,109 $12M $27.88 $1M -463 -0.1%
26 BAC 0.60% 242,519 $11M $47.32 $1M +1,436 +0.6%
27 ABBV 0.60% 61,266 $11M $185.62 -$1M +391 +0.6%
28 UNH 0.57% 34,763 $11M $311.97 -$6M +2,589 +8.1%
29 WFC 0.54% 127,906 $10M $80.12 $1M +704 +0.6%
30 ORCL 0.53% 45,970 $10M $218.63 $4M +375 +0.8%
31 CSCO 0.52% 142,763 $10M $69.38 $367K -11,794 -7.6%
32 QMOM 0.52% 152,100 $10M $64.98 $365K -8,136 -5.1%
33 PM 0.51% 53,860 $10M $182.13 $1M +340 +0.6%
34 GE 0.51% 37,839 $10M $257.39 $2M +241 +0.6%
35 KO 0.50% 135,222 $10M $70.75 -$57K +849 +0.6%
36 IBM 0.49% 31,461 $9M $294.78 $2M +203 +0.7%
37 CRM 0.48% 33,421 $9M $272.69 $203K +216 +0.7%
38 CVX 0.46% 61,257 $9M $143.19 -$1M +363 +0.6%
39 ABT 0.43% 60,696 $8M $136.01 $256K +395 +0.7%
40 GS 0.43% 11,461 $8M $707.75 $2M +72 +0.6%
41 IMOM 0.42% 238,401 $8M $33.96 $1M -4,117 -1.7%
42 AMD 0.42% 56,063 $8M $141.90 $2M +367 +0.7%
43 DIS 0.41% 63,411 $8M $124.01 $2M +390 +0.6%
44 T 0.41% 271,270 $8M $28.94 -$772K -33,646 -11.0%
45 QQQ 0.40% 13,997 $8M $551.64 $1M
46 INTU 0.40% 9,699 $8M $787.63 $2M +66 +0.7%
47 BKNG 0.39% 1,285 $7M $5,789.24 $2M +9 +0.7%
48 VZ 0.38% 167,084 $7M $43.27 $673K +22,542 +15.6%
49 MRK 0.38% 90,630 $7M $79.16 -$732K +2,552 +2.9%
50 RTX 0.37% 48,960 $7M $146.02 $704K +305 +0.6%
51 ET 0.37% 389,546 $7M $18.13 $3M +149,101 +62.0%
52 KR 0.36% 96,881 $7M $71.73 $5M +64,091 +195.5%
53 NOW 0.36% 6,726 $7M $1,028.08 $2M +51 +0.8%
54 CAT 0.36% 17,807 $7M $388.21 $1M +102 +0.6%
55 ISRG 0.35% 12,199 $7M $543.41 $628K +83 +0.7%
56 TXN 0.34% 31,646 $7M $207.62 $920K +202 +0.6%
57 AXP 0.34% 20,522 $7M $318.98 $1M +124 +0.6%
58 AAVM 0.34% 238,242 $6M $27.18 $504K -5,049 -2.1%
59 MS 0.33% 45,122 $6M $140.86 $1M +275 +0.6%
60 PEP 0.33% 47,818 $6M $132.04 -$810K +305 +0.6%
61 ADBE 0.32% 15,883 $6M $386.88 $90K +96 +0.6%
62 C 0.30% 67,682 $6M $85.12 $986K +416 +0.6%
63 TMO 0.30% 13,915 $6M $405.46 -$1M +489 +3.6%
64 CMCSA 0.30% 158,071 $6M $35.69 -$683K -13,337 -7.8%
65 PTIN 0.29% 193,079 $6M $29.01 -$60K
66 SPGI 0.29% 10,531 $6M $527.29 $239K +73 +0.7%
67 PGR 0.28% 20,290 $5M $266.86 -$291K +129 +0.6%
68 HON 0.28% 23,188 $5M $232.88 $521K +146 +0.6%
69 AMAT 0.28% 29,491 $5M $183.07 $1M +175 +0.6%
70 BSX 0.28% 50,059 $5M $107.41 $361K +338 +0.7%
71 BLK 0.28% 5,024 $5M $1,049.25 $549K +35 +0.7%
72 AMGN 0.28% 18,879 $5M $279.21 -$574K +117 +0.6%
73 OMAB 0.28% 49,941 $5M $105.50 $3M +21,228 +73.9%
74 QCOM 0.27% 32,085 $5M $159.26 $450K +1,748 +5.8%
75 TJX 0.26% 40,138 $5M $123.49 $99K +257 +0.6%
76 UNP 0.26% 21,532 $5M $230.08 -$101K +135 +0.6%
77 NEE 0.26% 70,346 $5M $69.42 -$70K +468 +0.7%
78 COF 0.26% 22,940 $5M $212.76 $2M +9,384 +69.2%
79 GILD 0.25% 43,664 $5M $110.87 -$20K +277 +0.6%
80 MU 0.25% 39,006 $5M $123.25 $2M +1,052 +2.8%
81 PFE 0.25% 197,247 $5M $24.24 -$186K +1,228 +0.6%
82 DE 0.25% 9,358 $5M $508.49 $394K +60 +0.7%
83 WES 0.25% 122,699 $5M $38.70 +122,699 NEW
84 TSM 0.25% 20,768 $5M $226.49 +20,768 NEW
85 LOW 0.25% 21,069 $5M $221.87 -$210K +125 +0.6%
86 SCHW 0.24% 50,668 $5M $91.24 $692K +456 +0.9%
87 SYK 0.24% 11,677 $5M $395.63 $303K +81 +0.7%
88 GEV 0.24% 8,686 $5M $529.15 $2M +66 +0.8%
89 LRCX 0.24% 46,676 $5M $97.34 $1M +279 +0.6%
90 DHR 0.24% 22,791 $5M $197.54 -$140K +147 +0.7%
91 CI 0.23% 13,533 $4M $330.58 $536K +1,564 +13.1%
92 ADP 0.23% 14,440 $4M $308.40 $70K +93 +0.7%
93 KLAC 0.23% 4,826 $4M $895.74 $1M +31 +0.7%
94 TMUS 0.23% 18,115 $4M $238.26 -$488K +102 +0.6%
95 COP 0.22% 47,652 $4M $89.74 -$700K +269 +0.6%
96 CPA 0.22% 38,425 $4M $109.97 +38,425 NEW
97 ADI 0.22% 17,523 $4M $238.02 $660K +112 +0.6%
98 BA 0.22% 19,904 $4M $209.53 $808K +191 +1.0%
99 AX 0.22% 54,633 $4M $76.04 $1M +13,118 +31.6%
100 APH 0.21% 41,449 $4M $98.75 $1M +283 +0.7%

New Positions

SymbolValue% Port
WES $5M 0.25%
TSM $5M 0.25%
CPA $4M 0.22%
PAC $4M 0.19%
PDLB $3M 0.17%
MPLX $3M 0.16%
BTI $2M 0.12%
PSMT $2M 0.11%
NGVC $2M 0.10%
TX $2M 0.10%
ARE $1M 0.08%
NXT $1M 0.06%
OSK $1M 0.06%
EME $1M 0.06%
SNX $1M 0.06%

Sold Out Positions

SymbolValue% Port
HRB —%
ARW —%
TMHC —%
DINO —%
AGCO —%
SHV —%
CNR —%
PBF —%
STLA —%
LYB —%
CRI —%
LBRT —%
PVH —%
ANF —%
GPK —%
View SEC EDGAR Filings for Empirical Finance, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms