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Empirical Finance, LLC
Empirical Finance, LLC, doing business as Alpha Architect, is an SEC-registered investment adviser headquartered in Bensalem, Pennsylvania. Founded in 2013, Alpha Architect provides quantitative investment solutions, ETF management, and custom portfolio design primarily to RIAs, institutional investors, and high-net-worth individuals. The firm is known for its intellectual rigor and data-driven approach to asset management, focusing on systematic investing supported by academic research. The firm employs approximately 20 professionals with expertise across financial engineering, quantitative modeling, and client relationship management.
Investment Strategy
Alpha Architect employs a highly quantitative, evidence-based investment methodology underpinned by rigorous academic research. Their primary focus areas include value and momentum equity strategies delivered via ETF and separately managed accounts. The firm seeks to empower investors through transparent, rules-based models designed to capture behavioral and structural premia, emphasizing tax efficiency, risk management, and customization. Alpha Architect is dedicated to serving sophisticated clients with innovative public equity solutions, often integrating factor investing and systematic portfolio rebalancing.
Latest 13F Filing Activity
Empirical Finance, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 500 equity positions with a total 13F market value of $2B. The fund increased holdings in Nvidia Corporation, Microsoft Corp., Broadcom Inc. among other positions. Empirical Finance, LLC reduced exposure to Apple Inc., Unitedhealth Group Inc., Berkshire Hathaway Inc. Del among others.
Top Holdings
Equity Positions (500)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 7.05% | $134.7M | 852,382 | $28.79 | $157.99 | +$44.0M |
M MSFT | MICROSOFT CORP | 6.59% | $125.8M | 252,896 | $274.54 | $497.41 | +$31.8M |
A AAPL | APPLE INC | 5.61% | $107.1M | 521,839 | $140.23 | $205.17 | -$6.9M |
A AMZN | AMAZON COM INC | 3.83% | $73.1M | 333,086 | $135.82 | $219.39 | +$12.0M |
M META | META PLATFORMS INC | 2.99% | $57.1M | 77,335 | $255.59 | $738.09 | +$12.8M |
Industry Allocation
Investment Team (4)
| Name | Role | Location | |
|---|---|---|---|
R Richard Shaner | Portfolio Manager | PA , United States | |
W Wen Gao | ETF Trading Analyst | Philadelphia, PA , United States | |
 | Portfolio Manager | Philadelphia, PA , United States | |
 | Portfolio Manager | Philadelphia, PA , United States |
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