Latest Empirical Finance, LLC Stock Portfolio

$2.13Billion– No. of Holdings #483

Empirical Finance, LLC Performance:

2026 Q1: -2.39%YTD: -2.39%2025: 15.32%

Performance for 2026 Q1 is -2.39%, and YTD is -2.39%, and 2025 is 15.32%.

About Empirical Finance, LLC and 13F Hedge Fund Stock Holdings

On 2026-05-15, the fund reported it's updated stock portfolio. In the 13F Holdings report, Empirical Finance, LLC reported an equity portfolio of $2.1 Billions as of 31 Mar, 2026.

The top stock holdings of Empirical Finance, LLC are NVDA, AAPL, MSFT. The fund has invested 6.7% of it's portfolio in NVIDIA CORPORATION and 6% of portfolio in APPLE INC.

The fund managers got completely rid off CORPORACION AMER ARPTS S A (CAAP), COPA HOLDINGS SA (CPA) and TECHNIPFMC PLC (FTI) stocks. They significantly reduced their stock positions in VANGUARD INDEX FDS (VB), PACER FDS TR (AFTY) and EA SERIES TRUST (BOB). Empirical Finance, LLC opened new stock positions in ALPHABET INC (GOOG), VANGUARD INDEX FDS (VB) and EA SERIES TRUST (BOB). The fund showed a lot of confidence in some stocks as they added substantially to SPROUTS FMRS MKT INC (SFM), GRUPO AEROPORTUNARIO DEL PAC (PAC) and ENERGY TRANSFER L P (ET).

Empirical Finance, LLC Equity Portfolio Value

Last Reported on: 15 May, 2026

Empirical Finance, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Empirical Finance, LLC made a return of -2.39% in the last quarter. In trailing 12 months, it's portfolio return was 18.01%.

Performance
S&P 500

New Buys

Ticker	$ Bought
alphabet inc	56,771,800
vanguard index fds	17,660,600
ea series trust	16,977,800
capital southwest corp	13,689,300
ea series trust	10,013,900
ea series trust	8,279,890
grupo aeroportuario del sure	7,686,620
pacer fds tr	6,278,930

New stocks bought by Empirical Finance, LLC

Additions

Ticker	% Inc.
sprouts fmrs mkt inc	2,005
grupo aeroportunario del pac	148
energy transfer l p	86.79
western midstream partners l	86.76
parke bancorp inc	86.59
mplx lp	86.58
axos financial inc	86.55
century communities inc	86.49

Additions to existing portfolio by Empirical Finance, LLC

Reductions

Ticker	% Reduced
vanguard index fds	-97.58
pacer fds tr	-83.24
ea series trust	-78.32
alphabet inc	-41.87
spdr gold tr	-33.58
atn intl inc	-31.38
american centy etf tr	-29.99
autozone inc	-24.13

Empirical Finance, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
corporacion amer arpts s a	-6,343,660
burford cap ltd	-624,400
dlocal ltd	-652,943
copa holdings sa	-4,685,700
technipfmc plc	-1,438,170
gates indl corp plc	-673,342
millicom intl cellular s a	-947,026
diageo plc	-1,306,040

Empirical Finance, LLC got rid off the above stocks

Sector Distribution

Empirical Finance, LLC has about 26.9% of it's holdings in Technology sector.

Technology
Others
Financial Services
Communication Services
Consumer Cyclical
Healthcare
Industrials
Energy
Consumer Defensive
Utilities
Basic Materials

Sector	%
Technology	26.9
Others	11.8
Financial Services	10.6
Communication Services	10.3
Consumer Cyclical	9
Healthcare	8.6
Industrials	7
Energy	6.6
Consumer Defensive	5.5
Utilities	2.1
Basic Materials	1.4

Market Cap. Distribution

Empirical Finance, LLC has about 84.2% of it's portfolio invested in the large-cap and mega-cap stocks.

MEGA-CAP
LARGE-CAP
UNALLOCATED
MID-CAP
SMALL-CAP

Category	%
MEGA-CAP	53.5
LARGE-CAP	30.7
UNALLOCATED	11.8
MID-CAP	2.3
SMALL-CAP	1.5

Stocks belong to which Index?

About 83.3% of the stocks held by Empirical Finance, LLC either belong to S&P 500 or RUSSELL 2000 index.

S&P 500
Others
RUSSELL 2000

Index	%
S&P 500	80.9
Others	16.7
RUSSELL 2000	2.4

Top 5 Winners (%)		%
	sandisk corp	166.1 %
DOW	dow hldgs inc	78.1 %
APA	apa corporation	73.5 %
MRNA	moderna inc	72.2 %
CF	cf industries hold	67.8 %

Top 5 Winners ($)		$
VB	vanguard index fds	10.2 M
XOM	exxon mobil corp	7.5 M
CVX	chevron corporation	4.1 M
BOB	ea series trust	3.1 M
JNJ	johnson & johnson	3.1 M

Top 5 Losers (%)		%
CRMT	americas car-mart inc	-49.6 %
CSGP	costar group inc	-40.0 %
IT	gartner inc	-37.2 %
INTU	intuit	-34.7 %
BSX	boston scientific corp	-34.2 %

Top 5 Losers ($)		$
MSFT	microsoft corp	-27.9 M
NVDA	nvidia corporation	-9.9 M
AAPL	apple inc	-9.1 M
GOOG	alphabet inc	-8.4 M
AMZN	amazon com inc	-8.1 M

Empirical Finance, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Empirical Finance, LLC

Empirical Finance, LLC has 483 stocks in it's portfolio. About 33.4% of the portfolio is in top 10 stocks. MSFT proved to be the most loss making stock for the portfolio. VB was the most profitable stock for Empirical Finance, LLC last quarter.

Last Reported on: 15 May, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
A	agilent technologies inc	0.05	10,040	1,144,360	reduced	-0.2

AA	alcoa corp	0.12	37,319	2,475,370	unchanged	0.00

AAL	american airlines group inc	0.01	19,707	211,653	reduced	-1.48

AAPL	apple inc	5.98	501,183	127,195,000	reduced	-0.17

AAXJ	ishares tr	0.09	13,031	1,803,100	unchanged	0.00

ABBV	abbvie inc	0.60	59,130	12,860,200	reduced	-0.17

ABC	cencora inc	0.08	5,487	1,723,690	added	0.11

ABNB	airbnb inc	0.02	3,531	445,895	added	3.64

ABT	abbott laboratories	0.28	58,611	6,017,590	reduced	-0.14

ADBE	adobe inc	0.17	15,281	3,714,500	reduced	-0.25

ADI	analog devices inc	0.25	16,902	5,377,200	reduced	-0.21

ADM	archer daniels midland co	0.06	18,293	1,329,720	reduced	-0.31

ADP	automatic data processing in	0.13	13,936	2,831,520	reduced	-0.16

ADSK	autodesk inc	0.08	7,254	1,736,610	reduced	-0.14

ADT	adt inc del	0.04	116,595	766,029	unchanged	0.00

AEE	ameren corp	0.05	8,855	973,342	reduced	-0.06

AEMB	american centy etf tr	0.02	4,651	464,449	reduced	-29.99

AEMB	american centy etf tr	0.02	5,260	407,860	new

AEMB	american centy etf tr	0.01	1,992	220,056	new

AEP	american elec pwr co inc	0.11	17,430	2,284,720	reduced	-0.11