Empirical Finance, LLC

CIK 0001572838 · Q1 2026

13F Equity AUM

$2.1B

+1.5% QoQ

Positions

483

+2 QoQ

AUM Rank

#1,735

Top 14%

Skill Alpha (FF)

-2.2%/yr^ns

No Clear Edge

Rank #5,422 · Top 66%

vs S&P -4.7%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 23.8%Top 10: 33.4%Top 20: 44.0%

NVDA6.7%

AAPL6.0%

MSFT4.3%

AMZN3.7%

GOOG3.1%

GOOGL2.7%

AVGO2.1%

META2.0%

TSM1.5%

TSLA1.4%

Others (473)66.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology28.6%

Financial Services16.8%

Communication Services10.5%

Industrials9.1%

Consumer Cyclical8.9%

Healthcare8.7%

Energy6.6%

Consumer Defensive5.1%

Other5.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 483Median: 0.07%Avg: 0.21%

0–0.5%

442(42.9%)

0.5–1%

26(17.6%)

1–3%

10(15.8%)

3–5%

3(11.1%)

5%+

2(12.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 473Unique: 10vs 20 funds

6.5%Low

483

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

8.9%

BANK OF AMERICA CORP /DE/

9.9%

11.7%

9.6%

15.7%

13.4%

VANGUARD CAPITAL MANAGEMENT LLC

13.4%

GEODE CAPITAL MANAGEMENT, LLC

13%

VANGUARD PORTFOLIO MANAGEMENT LLC

15.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New22Increased55Decreased375Exited20

New Positions

GOOGL2.7%

+197K

VTI0.8%

+55K

CAOS0.8%

+187K

CSWC0.6%

+619K

IVAL0.5%

+295K

AAVM0.4%

+264K

ASR0.4%

+23K

PTIN0.3%

+193K

IMOM0.2%

+121K

QMOM0.2%

+52K

Increased

ET1.3%

+653K(+87%)

WES0.9%

+205K(+87%)

MPLX0.6%

+101K(+87%)

SFM0.4%

+100K(+2006%)

BB40.7%

+83K(+87%)

G7A0.9%

+72K(+75%)

TX0.3%

+66K(+69%)

PKBK0.1%

+48K(+87%)

G9N0.9%

+45K(+148%)

TSM1.5%

+44K(+86%)

Decreased

QVAL0.7%

-996,107(-78%)

PTMC0.1%

-240,431(-83%)

GOOG3.1%

-168,514(-42%)

VOO0.1%

-68,231(-98%)

ATNI0.1%

-20,732(-31%)

FOXA0.1%

-5,023(-13%)

GQ90.1%

-2,500(-34%)

AVDV0.0%

-1,992(-30%)

NVDA6.7%

-1,383(-0%)

AAPL6.0%

-854(-0%)

Exited

-243,987

-38,850

-32,275

-15,139

-17,082

-46,177

-31,362

-70,000

-3,909

-3,819

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...