Filed: 8/11/2025ACC: 0001592828-25-000010
📋 What this filing means
EMPIRICAL FINANCE, LLC filed this quarterly 13F‑HR report disclosing 508 equity positions with a total reported market value of $1.91B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
508
Positions
$1.91B
Total AUM (reported)
17.81M
Total Shares
Allocation by class
COM$1.44B75.5%
CL A$107.62M5.6%
COM NEW$53.48M2.8%
CAP STK CL A$36.37M1.9%
CAP STK CL C$33.15M1.7%
ALPHA ARCHITECT$25.56M1.3%
CL B NEW$24.87M1.3%
Portfolio Concentration
Top 3$367.53M19.2%
4–10$296.99M15.5%
11–25$251.40M13.2%
Rest$994.28M52.1%
Top 3 weight
19.2%
Top 10 weight
34.8%
Voting Authority Distribution
Total shares with voting rights: 17.81M
Sole
Full voting authority
17.81M
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)
Sole508
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings508
Rows:
NVIDIA CORPORATION
SOLEShares852.38K
TypeSH
Market value$134.67M
7.05%
Sole
852.38K
Shared
0.00
None
0.00
MICROSOFT CORP
SOLEShares252.90K
TypeSH
Market value$125.79M
6.59%
Sole
252.90K
Shared
0.00
None
0.00
APPLE INC
SOLEShares521.84K
TypeSH
Market value$107.07M
5.60%
Sole
521.84K
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares333.09K
TypeSH
Market value$73.08M
3.83%
Sole
333.09K
Shared
0.00
None
0.00
META PLATFORMS INC
SOLEShares77.33K
TypeSH
Market value$57.08M
2.99%
Sole
77.33K
Shared
0.00
None
0.00
BROADCOM INC
SOLEShares148.18K
TypeSH
Market value$40.85M
2.14%
Sole
148.18K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares206.39K
TypeSH
Market value$36.37M
1.90%
Sole
206.39K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares186.88K
TypeSH
Market value$33.15M
1.74%
Sole
186.88K
Shared
0.00
None
0.00
JPMORGAN CHASE & CO.
SOLEShares104.51K
TypeSH
Market value$30.30M
1.59%
Sole
104.51K
Shared
0.00
None
0.00
TESLA INC
SOLEShares82.36K
TypeSH
Market value$26.16M
1.37%
Sole
82.36K
Shared
0.00
None
0.00
BERKSHIRE HATHAWAY INC DEL
SOLEShares51.20K
TypeSH
Market value$24.87M
1.30%
Sole
51.20K
Shared
0.00
None
0.00
ELI LILLY & CO
SOLEShares27.66K
TypeSH
Market value$21.56M
1.13%
Sole
27.66K
Shared
0.00
None
0.00
NETFLIX INC
SOLEShares15.16K
TypeSH
Market value$20.31M
1.06%
Sole
15.16K
Shared
0.00
None
0.00
EA SERIES TRUST
SOLEShares435.05K
TypeSH
Market value$19.15M
1.00%
Sole
435.05K
Shared
0.00
None
0.00
EA SERIES TRUST
SOLEShares208.96K
TypeSH
Market value$18.56M
0.97%
Sole
208.96K
Shared
0.00
None
0.00
EXXON MOBIL CORP
SOLEShares157.35K
TypeSH
Market value$16.96M
0.89%
Sole
157.35K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares55.05K
TypeSH
Market value$16.73M
0.88%
Sole
55.05K
Shared
0.00
None
0.00
MASTERCARD INCORPORATED
SOLEShares29.07K
TypeSH
Market value$16.33M
0.86%
Sole
29.07K
Shared
0.00
None
0.00
VISA INC
SOLEShares44.89K
TypeSH
Market value$15.94M
0.83%
Sole
44.89K
Shared
0.00
None
0.00
COSTCO WHSL CORP NEW
SOLEShares15.37K
TypeSH
Market value$15.21M
0.80%
Sole
15.37K
Shared
0.00
None
0.00
WALMART INC
SOLEShares147.41K
TypeSH
Market value$14.41M
0.75%
Sole
147.41K
Shared
0.00
None
0.00
PROCTER AND GAMBLE CO
SOLEShares82.60K
TypeSH
Market value$13.16M
0.69%
Sole
82.60K
Shared
0.00
None
0.00
JOHNSON & JOHNSON
SOLEShares85.65K
TypeSH
Market value$13.08M
0.68%
Sole
85.65K
Shared
0.00
None
0.00
HOME DEPOT INC
SOLEShares35.18K
TypeSH
Market value$12.90M
0.68%
Sole
35.18K
Shared
0.00
None
0.00
EA SERIES TRUST
SOLEShares438.11K
TypeSH
Market value$12.21M
0.64%
Sole
438.11K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
NVIDIA CORPORATIONSOLE | COM | 852.38K | SH | $134.67M 7.05% | 852.38K | 0.00 | 0.00 |
MICROSOFT CORPSOLE | COM | 252.90K | SH | $125.79M 6.59% | 252.90K | 0.00 | 0.00 |
APPLE INCSOLE | COM | 521.84K | SH | $107.07M 5.60% | 521.84K | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 333.09K | SH | $73.08M 3.83% | 333.09K | 0.00 | 0.00 |
META PLATFORMS INCSOLE | CL A | 77.33K | SH | $57.08M 2.99% | 77.33K | 0.00 | 0.00 |
BROADCOM INCSOLE | COM | 148.18K | SH | $40.85M 2.14% | 148.18K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL A | 206.39K | SH | $36.37M 1.90% | 206.39K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 186.88K | SH | $33.15M 1.74% | 186.88K | 0.00 | 0.00 |
JPMORGAN CHASE & CO.SOLE | COM | 104.51K | SH | $30.30M 1.59% | 104.51K | 0.00 | 0.00 |
TESLA INCSOLE | COM | 82.36K | SH | $26.16M 1.37% | 82.36K | 0.00 | 0.00 |
BERKSHIRE HATHAWAY INC DELSOLE | CL B NEW | 51.20K | SH | $24.87M 1.30% | 51.20K | 0.00 | 0.00 |
ELI LILLY & COSOLE | COM | 27.66K | SH | $21.56M 1.13% | 27.66K | 0.00 | 0.00 |
NETFLIX INCSOLE | COM | 15.16K | SH | $20.31M 1.06% | 15.16K | 0.00 | 0.00 |
EA SERIES TRUSTSOLE | US QUAN VALUE | 435.05K | SH | $19.15M 1.00% | 435.05K | 0.00 | 0.00 |
EA SERIES TRUSTSOLE | ALPHA ARCHITECT | 208.96K | SH | $18.56M 0.97% | 208.96K | 0.00 | 0.00 |
EXXON MOBIL CORPSOLE | COM | 157.35K | SH | $16.96M 0.89% | 157.35K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 55.05K | SH | $16.73M 0.88% | 55.05K | 0.00 | 0.00 |
MASTERCARD INCORPORATEDSOLE | CL A | 29.07K | SH | $16.33M 0.86% | 29.07K | 0.00 | 0.00 |
VISA INCSOLE | COM CL A | 44.89K | SH | $15.94M 0.83% | 44.89K | 0.00 | 0.00 |
COSTCO WHSL CORP NEWSOLE | COM | 15.37K | SH | $15.21M 0.80% | 15.37K | 0.00 | 0.00 |
WALMART INCSOLE | COM | 147.41K | SH | $14.41M 0.75% | 147.41K | 0.00 | 0.00 |
PROCTER AND GAMBLE COSOLE | COM | 82.60K | SH | $13.16M 0.69% | 82.60K | 0.00 | 0.00 |
JOHNSON & JOHNSONSOLE | COM | 85.65K | SH | $13.08M 0.68% | 85.65K | 0.00 | 0.00 |
HOME DEPOT INCSOLE | COM | 35.18K | SH | $12.90M 0.68% | 35.18K | 0.00 | 0.00 |
EA SERIES TRUSTSOLE | INTL QUAN VALUE | 438.11K | SH | $12.21M 0.64% | 438.11K | 0.00 | 0.00 |
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