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EF

Empirical Finance Portfolio holdings

AUM $2.13B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
-0.78%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$2.13B
AUM Growth
+$31.9M
Cap. Flow
+$82.1M
Cap. Flow %
3.86%
Top 10 Hldgs %
33.43%
Holding
503
New
22
Increased
55
Reduced
375
Closed
20

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$62M
2
VTI icon
Vanguard Total Stock Market ETF
VTI
+$18.5M
3
CAOS icon
Alpha Architect Tail Risk ETF
CAOS
+$16.9M
4
TSM icon
TSMC
TSM
+$15.2M
5
CSWC icon
Capital Southwest
CSWC
+$14M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$52.9M
2
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$51.7M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$42.7M
4
PTMC icon
Pacer Trendpilot US Mid Cap ETF
PTMC
+$9.02M
5
CAAP icon
Corporacion America
CAAP
+$6.34M

Sector Composition

Rank Sector Weight
1 Technology 29%
2 Financials 12.01%
3 Communication Services 10.54%
4 Industrials 9.33%
5 Consumer Discretionary 8.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$5.02T
$142M 6.69%
815,983
-1,383
-0.2% -$254K
AAPL icon
2
Apple
AAPL
$4.81T
$127M 5.98%
501,183
-854
-0.2% -$222K
MSFT icon
3
Microsoft
MSFT
$2.95T
$91M 4.27%
245,743
-339
-0.1% -$142K
AMZN icon
4
Amazon
AMZN
$2.66T
$78.5M 3.69%
377,013
+33,960
+10% +$7.48M
GOOG icon
5
Alphabet (Google) Class C
GOOG
$4.22T
$67.1M 3.15%
233,926
-168,514
-42% -$52.9M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.24T
$56.8M 2.67%
+197,426
New +$62M
AVGO icon
7
Broadcom
AVGO
$1.84T
$44.3M 2.08%
143,038
+13
+0% +$4.28K
META icon
8
Meta Platforms (Facebook)
META
$1.63T
$42.6M 2%
74,448
-109
-0.1% -$69.9K
TSM icon
9
TSMC
TSM
$2.2T
$32.2M 1.51%
95,230
+44,158
+86% +$15.2M
TSLA icon
10
Tesla
TSLA
$1.42T
$29.5M 1.39%
79,426
-19
-0% -$7.83K
JPM icon
11
JPMorgan Chase
JPM
$918B
$29.5M 1.39%
100,238
-258
-0.3% -$78.3K
ET icon
12
Energy Transfer Partners
ET
$69.7B
$27.1M 1.27%
1,404,756
+652,711
+87% +$12M
XOM icon
13
ExxonMobil
XOM
$629B
$25.7M 1.21%
151,381
-392
-0.3% -$57.2K
LLY icon
14
Eli Lilly
LLY
$1.05T
$24.5M 1.15%
26,607
-44
-0.2% -$44.6K
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.06T
$24M 1.13%
50,121
+250
+0.5% +$123K
JNJ icon
16
Johnson & Johnson
JNJ
$603B
$20.2M 0.95%
82,435
-141
-0.2% -$32.8K
OMAB icon
17
Grupo Aeroportuario Centro Norte
OMAB
$5.03B
$19.3M 0.91%
168,343
+71,924
+75% +$8.38M
PAC icon
18
Grupo Aeroportuario del Pacifico
PAC
$13B
$18.4M 0.87%
74,607
+44,531
+148% +$11.7M
WES icon
19
Western Midstream Partners
WES
$19.2B
$18.2M 0.86%
442,189
+205,421
+87% +$8.5M
WMT icon
20
Walmart Inc
WMT
$878B
$17.7M 0.83%
142,431
-146
-0.1% -$17.9K
VTI icon
21
Vanguard Total Stock Market ETF
VTI
$662B
$17.7M 0.83%
+55,050
New +$18.5M
CAOS icon
22
Alpha Architect Tail Risk ETF
CAOS
$712M
$17M 0.8%
+187,063
New +$16.9M
CVX icon
23
Chevron
CVX
$381B
$15.7M 0.74%
75,841
-169
-0.2% -$30.8K
AX icon
24
Axos Financial
AX
$5.54B
$15.2M 0.71%
178,281
+82,715
+87% +$7.54M
COST icon
25
Costco
COST
$412B
$14.8M 0.7%
14,854
-23
-0.2% -$22.4K
1
2 3 4 5

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AAP
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BCM
Basswood Capital Management New York $2.12B AUM 19.53% 1-Year Est. Return
GS
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SC
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PI
PFG Investments Woodbury, New York $2.15B AUM 25.5% 1-Year Est. Return
NAAA
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IVAV
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Empirical Finance's Q1 2026 Portfolio in Review

As of Q1 2026, Empirical Finance held 503 positions worth $2.13B, up 1.5% from $2.1B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Empirical Finance deployed $82.1M of net new capital in Q1 2026, opening 22 new positions and adding to 55 existing holdings. Its largest new stake was Alphabet (Google) Class A: 197,426 shares worth $56.8M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 31% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $52.9M trimmed.

  • Empirical Finance's largest Q1 2026 buy was Alphabet (Google) Class A: 197,426 shares worth $56.8M.
  • Empirical Finance added most to TSMC in Q1 2026, an estimated $15.2M increase.
  • Empirical Finance's biggest Q1 2026 reduction was Alphabet (Google) Class C, cutting an estimated $52.9M.
  • Empirical Finance fully exited Corporacion America in Q1 2026, selling an estimated $6.34M.
  • Empirical Finance's ten largest holdings make up 33% of its $2.13B portfolio in Q1 2026.
  • Empirical Finance opened 22 new positions and closed 20 in Q1 2026.
  • Empirical Finance's portfolio value rose 1.5% quarter-over-quarter to $2.13B.

Based on Empirical Finance's 13F filing for Q1 2026, filed 14 May 2026.