Empirical Finance, LLC Top Holdings and 13F Report (2025) About Empirical Finance, LLCInvestment ActivityEmpirical Finance, LLC has $1.73 billion in total holdings as of December 31, 2024.Empirical Finance, LLC owns shares of 500 different stocks, but just 131 companies or ETFs make up 80% of its holdings.Approximately 2.41% of the portfolio was purchased this quarter.About 3.15% of the portfolio was sold this quarter.This quarter, Empirical Finance, LLC has purchased 502 new stocks and bought additional shares in 73 stocks.Empirical Finance, LLC sold shares of 399 stocks and completely divested from 23 stocks this quarter.Largest Holdings Apple $127,232,893NVIDIA $116,299,840Microsoft $109,227,089Amazon.com $70,141,616Meta Platforms $46,515,842 Largest New Holdings this Quarter BLACKROCK INC $5,040,466 HoldingARISTA NETWORKS INC $3,559,287 HoldingLAM RESEARCH CORP $3,302,211 HoldingiShares Short Treasury Bond ETF $1,152,301 HoldingUrban Outfitters $812,663 Holding Largest Purchases this Quarter BLACKROCK INC 4,917 shares (about $5.04M)ARISTA NETWORKS INC 32,202 shares (about $3.56M)LAM RESEARCH CORP 45,718 shares (about $3.30M)iShares Short Treasury Bond ETF 10,465 shares (about $1.15M)Palo Alto Networks 4,808 shares (about $874.86K) Largest Sales this Quarter Apple 7,416 shares (about $1.86M)NVIDIA 10,366 shares (about $1.39M)Microsoft 3,293 shares (about $1.39M)United Airlines 11,208 shares (about $1.09M)Amazon.com 3,591 shares (about $787.83K) Sector Allocation Over TimeMap of 500 Largest Holdings ofEmpirical Finance, LLC Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorAAPLApple$127,232,893$1,857,115 ▼-1.4%508,0787.4%Computer and TechnologyNVDANVIDIA$116,299,840$1,392,050 ▼-1.2%866,0356.7%Computer and TechnologyMSFTMicrosoft$109,227,089$1,388,000 ▼-1.3%259,1396.3%Computer and TechnologyAMZNAmazon.com$70,141,616$787,829 ▼-1.1%319,7124.1%Retail/WholesaleMETAMeta Platforms$46,515,842$627,081 ▼-1.3%79,4452.7%Computer and TechnologyGOOGLAlphabet$39,914,662$533,637 ▼-1.3%210,8542.3%Computer and TechnologyGOOGAlphabet$34,661,032$546,944 ▼-1.6%182,0052.0%Computer and TechnologyAVGOBroadcom$32,768,266$336,632 ▼-1.0%141,3401.9%Computer and TechnologyTSLATesla$32,585,446$239,477 ▼-0.7%80,6891.9%Auto/Tires/TrucksQVALAlpha Architect U.S. Quantitative Value ETF$24,356,9210.0%545,6301.4%ETFJPMJPMorgan Chase & Co.$23,933,845$343,265 ▼-1.4%99,8451.4%FinanceBRK.BBerkshire Hathaway$22,669,893$322,282 ▼-1.4%50,0131.3%FinanceLLYEli Lilly and Company$20,979,100$281,780 ▼-1.3%27,1751.2%MedicalXOMExxon Mobil$16,643,250$657,899 ▼-3.8%154,7201.0%Oils/EnergyUNHUnitedHealth Group$16,095,453$204,873 ▼-1.3%31,8180.9%MedicalVTIVanguard Total Stock Market ETF$16,026,493$21,446 ▼-0.1%55,3000.9%ETFMAMastercard$15,039,366$209,575 ▼-1.4%28,5610.9%Business ServicesVVisa$13,834,651$29,076 ▼-0.2%43,7750.8%Business ServicesCOSTCostco Wholesale$13,825,598$170,426 ▼-1.2%15,0890.8%Retail/WholesalePGProcter & Gamble$13,603,289$186,092 ▼-1.3%81,1410.8%Consumer StaplesHDHome Depot$13,444,661$187,493 ▼-1.4%34,5630.8%Retail/WholesaleNFLXNetflix$13,275,320$164,894 ▼-1.2%14,8940.8%Consumer DiscretionaryIVALAlpha Architect International Quantitative Value ETF$13,187,196$113,999 ▼-0.9%549,0090.8%ETFQMOMAlpha Architect U.S. Quantitative Momentum ETF$13,153,961$25,652 ▼-0.2%205,1140.8%ETFWMTWalmart$13,075,542$168,774 ▼-1.3%144,7210.8%Retail/WholesaleJNJJohnson & Johnson$12,171,075$184,391 ▼-1.5%84,1590.7%MedicalCRMSalesforce$10,969,367$131,392 ▼-1.2%32,8100.6%Computer and TechnologyABBVAbbVie$10,688,300$140,383 ▼-1.3%60,1480.6%MedicalBACBank of America$10,476,186$160,681 ▼-1.5%238,3660.6%FinanceCSCOCisco Systems$9,049,016$109,224 ▼-1.2%152,8550.5%Computer and TechnologyWFCWells Fargo & Company$8,838,791$137,460 ▼-1.5%125,8370.5%FinanceCVXChevron$8,718,644$126,011 ▼-1.4%60,1950.5%Oils/EnergyMRKMerck & Co., Inc.$8,654,859$115,098 ▼-1.3%87,0010.5%MedicalIMOMAlpha Architect International Quantitative Momentum ETF$8,399,305$77,473 ▼-0.9%316,3580.5%ETFKOCoca-Cola$8,262,462$111,943 ▼-1.3%132,7090.5%Consumer StaplesQQQInvesco QQQ$7,882,655$446,815 ▲6.0%15,4190.5%FinanceORCLOracle$7,477,470$36,827 ▼-0.5%44,8720.4%Computer and TechnologyPEPPepsiCo$7,132,070$97,014 ▼-1.3%46,9030.4%Consumer StaplesNOWServiceNow$6,977,710$65,727 ▼-0.9%6,5820.4%Computer and TechnologyADBEAdobe$6,931,227$93,827 ▼-1.3%15,5870.4%Computer and TechnologyDISWalt Disney$6,929,645$97,988 ▼-1.4%62,2330.4%Consumer DiscretionaryTMOThermo Fisher Scientific$6,895,661$91,040 ▼-1.3%13,2550.4%MedicalTAT&T$6,863,265$479,901 ▲7.5%301,4170.4%Computer and TechnologyIBMInternational Business Machines$6,782,635$84,854 ▼-1.2%30,8540.4%Computer and TechnologyABTAbbott Laboratories$6,735,361$91,958 ▼-1.3%59,5470.4%MedicalAMDAdvanced Micro Devices$6,638,135$89,264 ▼-1.3%54,9560.4%Computer and TechnologyVMOTAlpha Architect Value Momentum Trend ETF$6,607,270$270,913 ▲4.3%260,0100.4%ETFGSThe Goldman Sachs Group$6,441,975$84,175 ▼-1.3%11,2500.4%FinanceCMCSAComcast$6,358,220$408,777 ▲6.9%169,4170.4%Consumer DiscretionaryPMPhilip Morris International$6,357,850$84,245 ▼-1.3%52,8280.4%Consumer StaplesCATCaterpillar$6,343,221$87,788 ▼-1.4%17,4860.4%Industrial ProductsBKNGBooking$6,250,272$59,621 ▼-0.9%1,2580.4%Retail/WholesaleISRGIntuitive Surgical$6,240,032$78,816 ▼-1.2%11,9550.4%MedicalGEGeneral Electric$6,192,746$83,395 ▼-1.3%37,1290.4%TransportationAXPAmerican Express$5,978,835$88,740 ▼-1.5%20,1450.3%FinanceINTUIntuit$5,971,379$64,736 ▼-1.1%9,5010.3%Computer and TechnologyTXNTexas Instruments$5,815,998$77,817 ▼-1.3%31,0170.3%Computer and TechnologyVZVerizon Communications$5,702,894$77,181 ▼-1.3%142,6080.3%Computer and TechnologyPTINPacer Trendpilot International ETF$5,701,376$544,982 ▼-8.7%205,4550.3%ETFMSMorgan Stanley$5,567,510$84,232 ▼-1.5%44,2850.3%FinanceRTXRTX$5,561,503$81,698 ▼-1.4%48,0600.3%AerospaceHONHoneywell International$5,133,576$75,221 ▼-1.4%22,7260.3%Multi-Sector ConglomeratesSPGIS&P Global$5,131,701$56,277 ▼-1.1%10,3040.3%Business ServicesPFEPfizer$5,129,522$69,031 ▼-1.3%193,3480.3%MedicalDHRDanaher$5,126,311$68,176 ▼-1.3%22,3320.3%Multi-Sector ConglomeratesLOWLowe's Companies$5,102,837$85,886 ▼-1.7%20,6760.3%Retail/WholesaleBLACKROCK INC$5,040,466$5,040,466 ▲New Holding4,9170.3%COMNEENextEra Energy$4,938,437$63,661 ▼-1.3%68,8860.3%UtilitiesAMGNAmgen$4,823,664$64,378 ▼-1.3%18,5070.3%MedicalUNPUnion Pacific$4,812,784$69,096 ▼-1.4%21,1050.3%TransportationPGRProgressive$4,761,290$58,465 ▼-1.2%19,8710.3%FinanceTJXTJX Companies$4,752,665$65,237 ▼-1.4%39,3400.3%Retail/WholesaleAMATApplied Materials$4,703,747$69,443 ▼-1.5%28,9230.3%Computer and TechnologyCCitigroup$4,672,347$68,701 ▼-1.4%66,3780.3%FinanceCOPConocoPhillips$4,636,089$476,709 ▲11.5%46,7490.3%Oils/EnergyQCOMQUALCOMM$4,575,264$17,052 ▼-0.4%29,7830.3%Computer and TechnologyBSXBoston Scientific$4,378,466$55,289 ▼-1.2%49,0200.3%MedicalCAOSAlpha Architect Tail Risk ETF$4,219,691$604,026 ▲16.7%48,2030.2%ETFFIFiserv$4,189,746$55,053 ▼-1.3%20,3960.2%Business ServicesADPAutomatic Data Processing$4,139,788$56,497 ▼-1.3%14,1420.2%Business ServicesSYKStryker$4,113,931$46,806 ▼-1.1%11,4260.2%MedicalBMYBristol-Myers Squibb$4,049,866$60,689 ▼-1.5%71,6030.2%MedicalGILDGilead Sciences$3,948,448$53,390 ▼-1.3%42,7460.2%MedicalTMUST-Mobile US$3,921,489$50,326 ▼-1.3%17,7660.2%Computer and TechnologyDEDeere & Company$3,884,905$56,776 ▼-1.4%9,1690.2%Industrial ProductsELVElevance Health$3,799,670$358,940 ▲10.4%10,3000.2%MedicalLMTLockheed Martin$3,737,850$53,453 ▼-1.4%7,6920.2%AerospacePTNQPacer Trendpilot 100 ETF$3,730,090$395,341 ▼-9.6%50,3930.2%ETFSCHWCharles Schwab$3,653,430$42,260 ▼-1.1%49,3640.2%FinanceADIAnalog Devices$3,643,052$47,379 ▼-1.3%17,1470.2%Computer and TechnologyMMCMarsh & McLennan Companies$3,584,631$48,005 ▼-1.3%16,8760.2%FinanceSBUXStarbucks$3,574,171$47,724 ▼-1.3%39,1690.2%Retail/WholesaleARISTA NETWORKS INC$3,559,287$3,559,287 ▲New Holding32,2020.2%COM SHSVRTXVertex Pharmaceuticals$3,548,995$41,478 ▼-1.2%8,8130.2%MedicalMOAltria Group$3,440,787$576,184 ▲20.1%65,8020.2%Consumer StaplesBABoeing$3,422,295$23,187 ▼-0.7%19,3350.2%AerospaceVXUSVanguard Total International Stock ETF$3,309,568$265,008 ▼-7.4%56,1610.2%ETFLAM RESEARCH CORP$3,302,211$3,302,211 ▲New Holding45,7180.2%COM NEWCIThe Cigna Group$3,256,243$391,567 ▲13.7%11,7920.2%MedicalPYPLPayPal$3,203,100$47,881 ▼-1.5%37,5290.2%Computer and TechnologyShowing largest 100 holdings. 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