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Empirical Finance, LLC

Q3 2025 · Filed 2025-11-13
Market Value
$2.1B
+10.0%
Holdings
509
-35
New Purchases
6
Added To
457
Closed
7
Reduced
18
Top 10 Concentration
36.9%
Turnover
2.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 6.39% 5.61% +0.77% $134M
NVDA 7.65% 7.06% +0.58% $160M
GOOGL 2.40% 1.91% +0.49% $50M
TSLA 1.76% 1.37% +0.39% $37M
GOOG 2.07% 1.74% +0.33% $43M
TSM 0.50% 0.25% +0.25% $10M
AVGO 2.35% 2.14% +0.21% $49M
MS 0.47% 0.33% +0.14% $10M
CVX 0.59% 0.46% +0.13% $12M
ORCL 0.62% 0.53% +0.10% $13M
CAT 0.45% 0.36% +0.09% $10M
ABBV 0.68% 0.60% +0.09% $14M
ET 0.45% 0.37% +0.08% $9M
JNJ 0.76% 0.69% +0.08% $16M
LRCX 0.31% 0.24% +0.07% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 2.73% 2.99% -0.26% $57M
MSFT 6.34% 6.60% -0.26% $133M
AMZN 3.61% 3.83% -0.23% $76M
NFLX 0.87% 1.06% -0.19% $18M
CAOS 0.82% 0.97% -0.15% $17M
HES 0.00% 0.12% -0.12% $0
BTI 0.00% 0.12% -0.12% $0
COST 0.68% 0.80% -0.11% $14M
IVAL 0.53% 0.64% -0.11% $11M
LLY 1.02% 1.13% -0.11% $21M
CRM 0.38% 0.48% -0.10% $8M
V 0.74% 0.84% -0.10% $16M
MOOD 0.06% 0.16% -0.09% $1M
PM 0.42% 0.51% -0.09% $9M
INTU 0.32% 0.40% -0.08% $7M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 58 $1.3B 60.1%
Large Cap 370 $675M 32.2%
Mid Cap 57 $58M 2.8%
Small Cap 14 $68M 3.2%
Micro Cap 10 $35M 1.7%

Portfolio Analytics

Avg Market Cap
$146.2B
Median Market Cap
$32.9B
Avg P/E
30.4
Median P/E
22.6
Avg Dividend Yield
0.02%
Avg Beta
0.93
# Stocks
490
# ETFs / Funds
19

Top Holdings (509 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 7.65% 859,953 $160M $186.58 $26M +7,571 +0.9%
2 AAPL 6.39% 526,416 $134M $254.63 $27M +4,577 +0.9%
3 MSFT 6.34% 256,810 $133M $517.95 $7M +3,914 +1.6%
4 AMZN 3.61% 344,686 $76M $219.57 $3M +11,600 +3.5%
5 META 2.73% 78,037 $57M $734.38 $229K +702 +0.9%
6 GOOGL 2.40% 206,995 $50M $243.10 $14M +605 +0.3%
7 AVGO 2.35% 149,735 $49M $329.91 $9M +1,556 +1.1%
8 GOOG 2.07% 178,554 $43M $243.55 $10M -8,328 -4.5%
9 TSLA 1.76% 83,293 $37M $444.72 $11M +930 +1.1%
10 JPM 1.58% 105,419 $33M $315.43 $3M +905 +0.9%
11 BRK-B 1.24% 51,831 $26M $502.74 $1M +628 +1.2%
12 LLY 1.02% 28,118 $21M $763.00 -$107K +459 +1.7%
13 QVAL 0.95% 428,678 $20M $46.65 $851K -6,371 -1.5%
14 NFLX 0.87% 15,308 $18M $1,198.92 -$2M +143 +0.9%
15 VTI 0.86% 55,050 $18M $328.17 $1M
16 XOM 0.85% 158,750 $18M $112.75 $936K +1,396 +0.9%
17 CAOS 0.82% 192,048 $17M $89.53 -$1M -16,915 -8.1%
18 MA 0.80% 29,341 $17M $568.81 $357K +276 +0.9%
19 JNJ 0.76% 86,469 $16M $185.42 $3M +816 +0.9%
20 V 0.74% 45,467 $16M $341.38 -$417K +576 +1.3%
21 WMT 0.73% 148,900 $15M $103.06 $932K +1,487 +1.0%
22 HD 0.71% 36,975 $15M $405.19 $2M +1,793 +5.1%
23 COST 0.68% 15,524 $14M $925.63 -$843K +157 +1.0%
24 ABBV 0.68% 61,862 $14M $231.54 $3M +596 +1.0%
25 PG 0.63% 86,216 $13M $153.65 $87K +3,615 +4.4%
26 ORCL 0.62% 46,478 $13M $281.24 $3M +508 +1.1%
27 BAC 0.60% 244,731 $13M $51.59 $1M +2,212 +0.9%
28 CVX 0.59% 79,092 $12M $155.29 $4M +17,835 +29.1%
29 UNH 0.58% 35,092 $12M $345.30 $1M +329 +0.9%
30 GE 0.55% 38,195 $11M $300.82 $2M +356 +0.9%
31 IVAL 0.53% 367,721 $11M $30.17 -$1M -70,388 -16.1%
32 WFC 0.51% 128,903 $11M $83.82 $557K +997 +0.8%
33 TSM 0.50% 37,272 $10M $279.29 $6M +16,504 +79.5%
34 CSCO 0.49% 151,596 $10M $68.42 $467K +8,833 +6.2%
35 MS 0.47% 62,219 $10M $158.96 $4M +17,097 +37.9%
36 QMOM 0.47% 152,306 $10M $64.44 -$69K +206 +0.1%
37 CAT 0.45% 19,919 $10M $477.15 $3M +2,112 +11.9%
38 ET 0.45% 548,495 $9M $17.16 $2M +158,949 +40.8%
39 GS 0.44% 11,558 $9M $796.35 $1M +97 +0.8%
40 AMD 0.44% 56,576 $9M $161.79 $1M +513 +0.9%
41 KO 0.43% 136,564 $9M $66.32 -$510K +1,342 +1.0%
42 IBM 0.43% 31,780 $9M $282.16 -$307K +319 +1.0%
43 PM 0.42% 54,404 $9M $162.20 -$985K +544 +1.0%
44 IMOM 0.40% 226,820 $8M $36.64 $216K -11,581 -4.9%
45 RTX 0.39% 49,398 $8M $167.33 $1M +438 +0.9%
46 ABT 0.39% 61,304 $8M $133.94 -$44K +608 +1.0%
47 T 0.39% 290,650 $8M $28.24 $357K +19,380 +7.1%
48 MRK 0.39% 96,986 $8M $83.93 $966K +6,356 +7.0%
49 CRM 0.38% 33,744 $8M $237.00 -$1M +323 +1.0%
50 AAVM 0.37% 271,706 $8M $28.75 $1M +33,464 +14.1%
51 VZ 0.35% 168,657 $7M $43.95 $183K +1,573 +0.9%
52 DIS 0.35% 64,030 $7M $114.50 -$532K +619 +1.0%
53 QQQ 0.35% 12,197 $7M $600.37 -$399K -1,800 -12.9%
54 OMAB 0.35% 70,319 $7M $103.87 $2M +20,378 +40.8%
55 BKNG 0.33% 1,296 $7M $5,399.27 -$442K +11 +0.9%
56 C 0.33% 68,275 $7M $101.50 $1M +593 +0.9%
57 AXP 0.33% 20,696 $7M $332.16 $328K +174 +0.8%
58 TMO 0.32% 14,043 $7M $485.02 $1M +128 +0.9%
59 WES 0.32% 172,718 $7M $39.29 $2M +50,019 +40.8%
60 PEP 0.32% 48,283 $7M $140.44 $467K +465 +1.0%
61 INTU 0.32% 9,792 $7M $682.91 -$952K +93 +1.0%
62 LRCX 0.31% 49,076 $7M $133.90 $2M +2,400 +5.1%
63 KR 0.31% 97,121 $7M $67.41 -$402K +240 +0.2%
64 MU 0.31% 38,575 $6M $167.32 $2M -431 -1.1%
65 NOW 0.30% 6,798 $6M $920.28 -$659K +72 +1.1%
66 AMAT 0.29% 29,740 $6M $204.74 $690K +249 +0.8%
67 BLK 0.28% 5,074 $6M $1,165.87 $644K +50 +1.0%
68 AX 0.28% 69,766 $6M $84.65 $2M +15,133 +27.7%
69 PTIN 0.28% 193,079 $6M $30.47 $282K
70 TXN 0.28% 31,942 $6M $183.73 -$702K +296 +0.9%
71 TJX 0.28% 40,507 $6M $144.54 $898K +369 +0.9%
72 ADBE 0.27% 16,024 $6M $352.75 -$492K +141 +0.9%
73 ISRG 0.27% 12,617 $6M $447.23 -$986K +418 +3.4%
74 QCOM 0.26% 32,428 $5M $166.36 $285K +343 +1.1%
75 GEV 0.26% 8,773 $5M $614.90 $798K +87 +1.0%
76 AMGN 0.26% 19,060 $5M $282.20 $108K +181 +1.0%
77 NEE 0.26% 71,041 $5M $75.49 $479K +695 +1.0%
78 LOW 0.25% 21,257 $5M $251.31 $668K +188 +0.9%
79 KLAC 0.25% 4,868 $5M $1,078.60 $928K +42 +0.9%
80 PAC 0.25% 21,976 $5M $237.19 $2M +6,328 +40.4%
81 APH 0.25% 41,863 $5M $123.75 $1M +414 +1.0%
82 SPGI 0.25% 10,639 $5M $486.71 -$375K +108 +1.0%
83 UNP 0.24% 21,718 $5M $236.37 $179K +186 +0.9%
84 PFE 0.24% 199,183 $5M $25.48 $294K +1,936 +1.0%
85 PGR 0.24% 20,493 $5M $246.95 -$354K +203 +1.0%
86 CMCSA 0.24% 159,359 $5M $31.42 -$634K +1,288 +0.8%
87 INTC 0.24% 148,085 $5M $33.55 $2M +1,569 +1.1%
88 BSX 0.24% 50,576 $5M $97.63 -$439K +517 +1.0%
89 HON 0.23% 23,396 $5M $210.50 -$475K +208 +0.9%
90 COF 0.23% 23,151 $5M $212.58 $41K +211 +0.9%
91 GILD 0.23% 44,079 $5M $111.00 $52K +415 +0.9%
92 SCHW 0.23% 51,248 $5M $95.47 $270K +580 +1.1%
93 ANET 0.23% 33,320 $5M $145.71 $1M -868 -2.5%
94 CPA 0.22% 38,850 $5M $118.82 $391K +425 +1.1%
95 DHR 0.22% 23,010 $5M $198.26 $60K +219 +1.0%
96 LMT 0.22% 9,136 $5M $499.21 $923K +1,281 +16.3%
97 COP 0.22% 48,053 $5M $94.59 $269K +401 +0.8%
98 TMUS 0.21% 18,277 $4M $239.38 $59K +162 +0.9%
99 SYK 0.21% 11,795 $4M $369.67 -$260K +118 +1.0%
100 BA 0.21% 20,166 $4M $215.83 $182K +262 +1.3%

New Positions

SymbolValue% Port
DEO $1M 0.05%
CRMT $493K 0.02%
SNDK $408K 0.02%
PSKY $349K 0.02%
ETSY $252K 0.01%
SEG $228K 0.01%

Sold Out Positions

SymbolValue% Port
CE —%
BTI —%
BBWI —%
ACLS —%
HES —%
VIAC —%
WBA —%
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