Empirical Finance
NEWTOWN SQUARE, PAfiles as Empirical Finance, LLC
$2.4bn in 505 US stocks at the end of 30 June 2026. The top 10 are 34.6% of the money. It changed about 10.2% of the portfolio this quarter.
Value
$2.4bn
Stocks
505
Top 10 share
34.6%
Turnover
10.2%
What changed this quarter
New
Bought for the first time this quarter.
- Honeywell InternationalHON0.1% of the fund
- Honeywell AerospaceHONA0.1% of the fund
- British American Tobacco p.l.c.BTI<0.1% of the fund
- Mohawk IndustriesMHK<0.1% of the fund
- Brown FormanBF-B<0.1% of the fund
- Acuity Inc. (de)AYI<0.1% of the fund
- PTC TherapeuticsPTCT<0.1% of the fund
- DuPont de NemoursDD<0.1% of the fund
- Toll BrothersTOL<0.1% of the fund
- Deckers OutdoorDECK<0.1% of the fund
- Brinker InternationalEAT<0.1% of the fund
- Abercrombie & FitchANF<0.1% of the fund
- Vail ResortsMTN<0.1% of the fund
- FedEx Freight Holding CompanyFDXF<0.1% of the fund
- LearLEA<0.1% of the fund
- Option Care HealthOPCH<0.1% of the fund
- Lifeway FoodsLWAY<0.1% of the fund
- Dell TechnologiesDELL<0.1% of the fund
- Tenet HealthcareTHC<0.1% of the fund
- National Fuel GasNFG<0.1% of the fund
- Jones Lang LasalleJLL<0.1% of the fund
- Antero ResourcesAR<0.1% of the fund
- Encompass HealthEHC<0.1% of the fund
- EPAM SystemsEPAM<0.1% of the fund
- FTI ConsultingFCN<0.1% of the fund
Added
Bought more of a stock they already held.
- NvidiaNVDA7.0% of the fund+4%
- AppleAAPL6.2% of the fund+3%
- MicrosoftMSFT3.9% of the fund+4%
- AlphabetGOOGL3.0% of the fund+4%
- BroadcomAVGO2.3% of the fund+4%
- Micron TechnologyMU1.8% of the fund+3%
- Meta PlatformsMETA1.8% of the fund+3%
- TeslaTSLA1.4% of the fund+4%
- JPMorgan ChaseJPM1.4% of the fund+3%
- Eli LillyLLY1.4% of the fund+3%
- Advanced Micro DevicesAMD1.4% of the fund+4%
- Berkshire HathawayBRK-B1.1% of the fund+4%
- Johnson & JohnsonJNJ0.9% of the fund+3%
- ExxonMobil HoldingsXOM0.9% of the fund+3%
- Applied MaterialsAMAT0.9% of the fund+3%
- CaterpillarCAT0.9% of the fund+3%
- IntelINTC0.9% of the fund+4%
- Lam ResearchLRCX0.8% of the fund+3%
- Cisco SystemsCSCO0.7% of the fund+3%
- WalmartWMT0.7% of the fund+4%
- VisaV0.6% of the fund+5%
- AbbVieABBV0.6% of the fund+3%
- MastercardMA0.6% of the fund+3%
- KLAKLAC0.6% of the fund+3%
- Costco WholesaleCOST0.6% of the fund+4%
Cut
Sold some of their stake.
- AlphabetGOOG3.3% of the fund-5%
- Taiwan Semiconductor ManufacturingTSM1.2% of the fund-35%
- Energy Transfer L PET0.8% of the fund-26%
- Axos FinancialAX0.6% of the fund-14%
- Vanguard Index FDSVTI0.6% of the fund-28%
- Western Midstream Partners LWES0.6% of the fund-25%
- Grupo Aeroportuario DEL CentOMAB0.6% of the fund-25%
- Pacific Airport GroupPAC0.6% of the fund-25%
- Capital SouthwestCSWC0.5% of the fund-15%
- EA Series TrustCAOS0.5% of the fund-26%
- ChevronCVX0.5% of the fund-2%
- Morgan StanleyMS0.5% of the fund-14%
- EA Series TrustQVAL0.5% of the fund-20%
- Mplx LPMPLX0.4% of the fund-24%
- Invesco QQQ TRQQQ0.3% of the fund-8%
- Sprouts Farmers MarketSFM0.3% of the fund-15%
- Federal Agricultural MortgageAGM0.3% of the fund-15%
- EA Series TrustAAVM0.3% of the fund-32%
- Southeast Airport GroupASR0.2% of the fund-15%
- EA Series TrustIVAL0.2% of the fund-42%
- Medpace HoldingsMEDP0.2% of the fund-15%
- Pacer FDS TRPTIN0.2% of the fund-21%
- General MotorsGM0.2% of the fund-16%
- Ternium SATX0.2% of the fund-44%
- NewmontNEM0.2% of the fund-17%
Sold out
Sold their entire stake.
- Honeywell InternationalHON-100%
- Spdr Gold TRGLD-100%
- ATN InternationalATNI-100%
- Ally FinancialALLY-100%
- Coterra EnergyCTRA-100%
- DuPont de NemoursDD-100%
- Hologic-100%
- Allison Transmission HoldingsALSN-100%
- Americas CarmartCRMT-100%
- EA Series TrustBOXA-100%
- Dick's Sporting GoodsDKS-100%
- MattelMAT-100%
- InsuletPODD-100%
- CelaneseCE-100%
- Versant Media GroupVSNT-100%
- Marketaxess HoldingsMKTX-100%
- Full House ResortsFLL-100%
Holdings
- Energy Transfer L PET
- Share
- 0.8%
- Value
- $20m
- Shares
- 1,037,614
-26%
- Vanguard Index FDSVTI
- Share
- 0.6%
- Value
- $15m
- Shares
- 39,868
-28%
- Western Midstream Partners LWES
- Share
- 0.6%
- Value
- $14m
- Shares
- 330,016
-25%
- Grupo Aeroportuario DEL CentOMAB
- Share
- 0.6%
- Value
- $14m
- Shares
- 126,166
-25%
- EA Series TrustCAOS
- Share
- 0.5%
- Value
- $12m
- Shares
- 138,121
-26%
- EA Series TrustQVAL
- Share
- 0.5%
- Value
- $12m
- Shares
- 219,682
-20%
- Mplx LPMPLX
- Share
- 0.4%
- Value
- $9m
- Shares
- 164,540
-24%
- Invesco QQQ TRQQQ
- Share
- 0.3%
- Value
- $8m
- Shares
- 11,271
-8%
- EA Series TrustAAVM
- Share
- 0.3%
- Value
- $6m
- Shares
- 178,907
-32%
- EA Series TrustIVAL
- Share
- 0.2%
- Value
- $6m
- Shares
- 172,106
-42%
- Pacer FDS TRPTIN
- Share
- 0.2%
- Value
- $6m
- Shares
- 152,824
-21%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 7.0% | $169m | 844,676 | +4% |
| AppleAAPL | 6.2% | $150m | 518,315 | +3% |
| MicrosoftMSFT | 3.9% | $95m | 254,426 | +4% |
| Amazon.comAMZN | 3.7% | $89m | 371,802 | Held |
| AlphabetGOOG | 3.3% | $78m | 221,920 | -5% |
| AlphabetGOOGL | 3.0% | $73m | 204,352 | +4% |
| BroadcomAVGO | 2.3% | $56m | 148,958 | +4% |
| Micron TechnologyMU | 1.8% | $44m | 38,219 | +3% |
| Meta PlatformsMETA | 1.8% | $43m | 77,020 | +3% |
| TeslaTSLA | 1.4% | $35m | 82,916 | +4% |
| JPMorgan ChaseJPM | 1.4% | $34m | 103,311 | +3% |
| Eli LillyLLY | 1.4% | $33m | 27,524 | +3% |
| Advanced Micro DevicesAMD | 1.4% | $33m | 55,978 | +4% |
| Taiwan Semiconductor ManufacturingTSM | 1.2% | $30m | 62,160 | -35% |
| Berkshire HathawayBRK-B | 1.1% | $26m | 52,310 | +4% |
| Johnson & JohnsonJNJ | 0.9% | $22m | 85,199 | +3% |
| ExxonMobil HoldingsXOM | 0.9% | $21m | 156,210 | +3% |
| Applied MaterialsAMAT | 0.9% | $21m | 29,292 | +3% |
| CaterpillarCAT | 0.9% | $21m | 19,601 | +3% |
| IntelINTC | 0.9% | $21m | 147,571 | +4% |
| Lam ResearchLRCX | 0.8% | $20m | 46,390 | +3% |
| Energy Transfer L PET | 0.8% | $20m | 1,037,614 | -26% |
| Cisco SystemsCSCO | 0.7% | $18m | 149,734 | +3% |
| WalmartWMT | 0.7% | $17m | 147,788 | +4% |
| VisaV | 0.6% | $16m | 45,436 | +5% |
| AbbVieABBV | 0.6% | $15m | 61,181 | +3% |
| MastercardMA | 0.6% | $15m | 28,985 | +3% |
| Axos FinancialAX | 0.6% | $15m | 152,847 | -14% |
| Vanguard Index FDSVTI | 0.6% | $15m | 39,868 | -28% |
| KLAKLAC | 0.6% | $15m | 48,063 | +3% |
| Western Midstream Partners LWES | 0.6% | $14m | 330,016 | -25% |
| Costco WholesaleCOST | 0.6% | $14m | 15,385 | +4% |
| Grupo Aeroportuario DEL CentOMAB | 0.6% | $14m | 126,166 | -25% |
| Pacific Airport GroupPAC | 0.6% | $14m | 55,844 | -25% |
| General ElectricGE | 0.6% | $14m | 37,719 | +3% |
| Bank of AmericaBAC | 0.6% | $14m | 240,618 | +3% |
| UnitedHealth GroupUNH | 0.6% | $13m | 32,262 | Held |
| Home DepotHD | 0.5% | $13m | 36,530 | +3% |
| Capital SouthwestCSWC | 0.5% | $12m | 525,500 | -15% |
| Procter & GamblePG | 0.5% | $12m | 85,156 | +3% |
| EA Series TrustCAOS | 0.5% | $12m | 138,121 | -26% |
| ChevronCVX | 0.5% | $12m | 74,091 | -2% |
| Morgan StanleyMS | 0.5% | $12m | 58,732 | -14% |
| EA Series TrustQVAL | 0.5% | $12m | 219,682 | -20% |
| MerckMRK | 0.5% | $12m | 93,774 | +3% |
| Goldman Sachs GroupGS | 0.5% | $11m | 11,363 | +3% |
| Coca-ColaKO | 0.5% | $11m | 134,955 | +3% |
| NetflixNFLX | 0.4% | $11m | 151,066 | +3% |
| Wells Fargo & CompanyWFC | 0.4% | $10m | 125,751 | +3% |
| GE VernovaGEV | 0.4% | $10m | 8,690 | +4% |
| Philip Morris InternationalPM | 0.4% | $10m | 53,848 | +4% |
| Texas InstrumentsTXN | 0.4% | $9m | 31,603 | +4% |
| CitigroupC | 0.4% | $9m | 67,145 | +3% |
| Mplx LPMPLX | 0.4% | $9m | 164,540 | -24% |
| RTXRTX | 0.4% | $9m | 48,710 | +3% |
| Dollar TreeDLTR | 0.4% | $9m | 73,864 | +908% |
| International Business MachinesIBM | 0.4% | $9m | 31,474 | +3% |
| SandiskSNDK | 0.4% | $8m | 3,719 | +5% |
| Invesco QQQ TRQQQ | 0.3% | $8m | 11,271 | -8% |
| Sprouts Farmers MarketSFM | 0.3% | $8m | 89,384 | -15% |
| AmphenolAPH | 0.3% | $7m | 41,491 | +4% |
| Western DigitalWDC | 0.3% | $7m | 11,312 | +4% |
| Verizon CommunicationsVZ | 0.3% | $7m | 168,633 | +4% |
| Federal Agricultural MortgageAGM | 0.3% | $7m | 35,436 | -15% |
| Analog DevicesADI | 0.3% | $7m | 17,479 | +3% |
| CorningGLW | 0.3% | $7m | 27,064 | +4% |
| American ExpressAXP | 0.3% | $7m | 20,353 | +3% |
| AmgenAMGN | 0.3% | $7m | 18,865 | +3% |
| OracleORCL | 0.3% | $7m | 46,550 | +5% |
| Thermo Fisher ScientificTMO | 0.3% | $7m | 13,473 | +3% |
| Valero EnergyVLO | 0.3% | $7m | 25,476 | +53% |
| PepsiCoPEP | 0.3% | $6m | 47,726 | +3% |
| AT&TT | 0.3% | $6m | 311,629 | +11% |
| Booking HoldingsBKNG | 0.3% | $6m | 35,518 | +14% |
| NextEra EnergyNEE | 0.3% | $6m | 70,396 | +4% |
| TJX CompaniesTJX | 0.3% | $6m | 40,009 | +3% |
| Walt DisneyDIS | 0.3% | $6m | 62,942 | +3% |
| EA Series TrustAAVM | 0.3% | $6m | 178,907 | -32% |
| Southeast Airport GroupASR | 0.2% | $6m | 19,448 | -15% |
| DeereDE | 0.2% | $6m | 9,310 | +3% |
| EA Series TrustIVAL | 0.2% | $6m | 172,106 | -42% |
| Union PacificUNP | 0.2% | $6m | 21,456 | +3% |
| Medpace HoldingsMEDP | 0.2% | $6m | 10,782 | -15% |
| QualcommQCOM | 0.2% | $6m | 30,668 | +4% |
| Arista NetworksANET | 0.2% | $6m | 33,092 | +4% |
| Pacer FDS TRPTIN | 0.2% | $6m | 152,824 | -21% |
| CVS HealthCVS | 0.2% | $6m | 53,764 | +3% |
| Gilead SciencesGILD | 0.2% | $6m | 43,580 | +3% |
| Abbott LaboratoriesABT | 0.2% | $6m | 60,640 | +3% |
| KrogerKR | 0.2% | $5m | 96,782 | Held |
| SalesforceCRM | 0.2% | $5m | 33,277 | +3% |
| ConocoPhillipsCOP | 0.2% | $5m | 47,230 | +3% |
| Intuitive SurgicalISRG | 0.2% | $5m | 12,209 | +4% |
| BlackRockBLK | 0.2% | $5m | 5,024 | +4% |
| PfizerPFE | 0.2% | $5m | 197,099 | +3% |
| Charles SchwabSCHW | 0.2% | $5m | 51,146 | +4% |
| Lowe's CompaniesLOW | 0.2% | $5m | 20,973 | +3% |
| Marathon PetroleumMPC | 0.2% | $5m | 17,990 | Held |
| Lockheed MartinLMT | 0.2% | $5m | 9,005 | +3% |
| Capital One FinancialCOF | 0.2% | $5m | 22,865 | +3% |
Showing the largest 100 of 505.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 25.9% since 30 June 2025.
Where the money is
Technology33.7%
Financial services11.2%
Media & telecom10.0%
Health care8.8%
Retail & consumer8.8%
Industrials8.8%
Everyday goods5.4%
Energy3.0%
Utilities2.0%
Materials1.3%
Real estate0.1%
Other6.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.