Filed: 11/13/2025ACC: 0001572838-25-000012
📋 What this filing means
EMPIRICAL FINANCE, LLC filed this quarterly 13F‑HR report disclosing 506 equity positions with a total reported market value of $2.10B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
506
Positions
$2.10B
Total AUM (reported)
18.24M
Total Shares
Allocation by class
COM$1.58B75.0%
CL A$108.79M5.2%
COM NEW$63.61M3.0%
CAP STK CL A$50.32M2.4%
CAP STK CL C$43.49M2.1%
CL B NEW$26.06M1.2%
ALPHA ARCHITECT$25.53M1.2%
Portfolio Concentration
Top 3$427.51M20.4%
4–10$346.49M16.5%
11–25$259.53M12.4%
Rest$1.07B50.8%
Top 3 weight
20.4%
Top 10 weight
36.9%
Voting Authority Distribution
Total shares with voting rights: 18.24M
Sole
Full voting authority
18.24M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole506
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings506
Rows:
NVIDIA CORPORATION
SOLEShares859.95K
TypeSH
Market value$160.45M
7.64%
Sole
859.95K
Shared
0.00
None
0.00
APPLE INC
SOLEShares526.42K
TypeSH
Market value$134.04M
6.38%
Sole
526.42K
Shared
0.00
None
0.00
MICROSOFT CORP
SOLEShares256.81K
TypeSH
Market value$133.01M
6.33%
Sole
256.81K
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares344.69K
TypeSH
Market value$75.68M
3.60%
Sole
344.69K
Shared
0.00
None
0.00
META PLATFORMS INC
SOLEShares78.04K
TypeSH
Market value$57.31M
2.73%
Sole
78.04K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares207K
TypeSH
Market value$50.32M
2.40%
Sole
207K
Shared
0.00
None
0.00
BROADCOM INC
SOLEShares149.74K
TypeSH
Market value$49.40M
2.35%
Sole
149.74K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares178.55K
TypeSH
Market value$43.49M
2.07%
Sole
178.55K
Shared
0.00
None
0.00
TESLA INC
SOLEShares83.29K
TypeSH
Market value$37.04M
1.76%
Sole
83.29K
Shared
0.00
None
0.00
JPMORGAN CHASE & CO.
SOLEShares105.42K
TypeSH
Market value$33.25M
1.58%
Sole
105.42K
Shared
0.00
None
0.00
BERKSHIRE HATHAWAY INC DEL
SOLEShares51.83K
TypeSH
Market value$26.06M
1.24%
Sole
51.83K
Shared
0.00
None
0.00
ELI LILLY & CO
SOLEShares28.12K
TypeSH
Market value$21.45M
1.02%
Sole
28.12K
Shared
0.00
None
0.00
EA SERIES TRUST
SOLEShares428.68K
TypeSH
Market value$20.00M
0.95%
Sole
428.68K
Shared
0.00
None
0.00
NETFLIX INC
SOLEShares15.31K
TypeSH
Market value$18.35M
0.87%
Sole
15.31K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares55.05K
TypeSH
Market value$18.07M
0.86%
Sole
55.05K
Shared
0.00
None
0.00
EXXON MOBIL CORP
SOLEShares158.75K
TypeSH
Market value$17.90M
0.85%
Sole
158.75K
Shared
0.00
None
0.00
EA SERIES TRUST
SOLEShares192.05K
TypeSH
Market value$17.19M
0.82%
Sole
192.05K
Shared
0.00
None
0.00
MASTERCARD INCORPORATED
SOLEShares29.34K
TypeSH
Market value$16.69M
0.79%
Sole
29.34K
Shared
0.00
None
0.00
JOHNSON & JOHNSON
SOLEShares86.47K
TypeSH
Market value$16.03M
0.76%
Sole
86.47K
Shared
0.00
None
0.00
VISA INC
SOLEShares45.47K
TypeSH
Market value$15.52M
0.74%
Sole
45.47K
Shared
0.00
None
0.00
WALMART INC
SOLEShares148.90K
TypeSH
Market value$15.35M
0.73%
Sole
148.90K
Shared
0.00
None
0.00
HOME DEPOT INC
SOLEShares36.98K
TypeSH
Market value$14.98M
0.71%
Sole
36.98K
Shared
0.00
None
0.00
COSTCO WHSL CORP NEW
SOLEShares15.52K
TypeSH
Market value$14.37M
0.68%
Sole
15.52K
Shared
0.00
None
0.00
ABBVIE INC
SOLEShares61.86K
TypeSH
Market value$14.32M
0.68%
Sole
61.86K
Shared
0.00
None
0.00
PROCTER AND GAMBLE CO
SOLEShares86.22K
TypeSH
Market value$13.25M
0.63%
Sole
86.22K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
NVIDIA CORPORATIONSOLE | COM | 859.95K | SH | $160.45M 7.64% | 859.95K | 0.00 | 0.00 |
APPLE INCSOLE | COM | 526.42K | SH | $134.04M 6.38% | 526.42K | 0.00 | 0.00 |
MICROSOFT CORPSOLE | COM | 256.81K | SH | $133.01M 6.33% | 256.81K | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 344.69K | SH | $75.68M 3.60% | 344.69K | 0.00 | 0.00 |
META PLATFORMS INCSOLE | CL A | 78.04K | SH | $57.31M 2.73% | 78.04K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL A | 207K | SH | $50.32M 2.40% | 207K | 0.00 | 0.00 |
BROADCOM INCSOLE | COM | 149.74K | SH | $49.40M 2.35% | 149.74K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 178.55K | SH | $43.49M 2.07% | 178.55K | 0.00 | 0.00 |
TESLA INCSOLE | COM | 83.29K | SH | $37.04M 1.76% | 83.29K | 0.00 | 0.00 |
JPMORGAN CHASE & CO.SOLE | COM | 105.42K | SH | $33.25M 1.58% | 105.42K | 0.00 | 0.00 |
BERKSHIRE HATHAWAY INC DELSOLE | CL B NEW | 51.83K | SH | $26.06M 1.24% | 51.83K | 0.00 | 0.00 |
ELI LILLY & COSOLE | COM | 28.12K | SH | $21.45M 1.02% | 28.12K | 0.00 | 0.00 |
EA SERIES TRUSTSOLE | US QUAN VALUE | 428.68K | SH | $20.00M 0.95% | 428.68K | 0.00 | 0.00 |
NETFLIX INCSOLE | COM | 15.31K | SH | $18.35M 0.87% | 15.31K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 55.05K | SH | $18.07M 0.86% | 55.05K | 0.00 | 0.00 |
EXXON MOBIL CORPSOLE | COM | 158.75K | SH | $17.90M 0.85% | 158.75K | 0.00 | 0.00 |
EA SERIES TRUSTSOLE | ALPHA ARCHITECT | 192.05K | SH | $17.19M 0.82% | 192.05K | 0.00 | 0.00 |
MASTERCARD INCORPORATEDSOLE | CL A | 29.34K | SH | $16.69M 0.79% | 29.34K | 0.00 | 0.00 |
JOHNSON & JOHNSONSOLE | COM | 86.47K | SH | $16.03M 0.76% | 86.47K | 0.00 | 0.00 |
VISA INCSOLE | COM CL A | 45.47K | SH | $15.52M 0.74% | 45.47K | 0.00 | 0.00 |
WALMART INCSOLE | COM | 148.90K | SH | $15.35M 0.73% | 148.90K | 0.00 | 0.00 |
HOME DEPOT INCSOLE | COM | 36.98K | SH | $14.98M 0.71% | 36.98K | 0.00 | 0.00 |
COSTCO WHSL CORP NEWSOLE | COM | 15.52K | SH | $14.37M 0.68% | 15.52K | 0.00 | 0.00 |
ABBVIE INCSOLE | COM | 61.86K | SH | $14.32M 0.68% | 61.86K | 0.00 | 0.00 |
PROCTER AND GAMBLE COSOLE | COM | 86.22K | SH | $13.25M 0.63% | 86.22K | 0.00 | 0.00 |
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