Empowered Funds, LLC
Long book
$15.67B
Q1 2026
Positions
2102
Top-10 weight
16%
concentration
Last quarter
+13.3%
SPY +14.8%
Turnover
61%
of book per quarter
Strategy in plain words
auto-generated from filingsEmpowered Funds, LLC is a mechanically diversified allocator, running a $15.67B US long book across 2102 positions.
The portfolio is broadly diversified across 2102 positions (top 10 only 16%). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, ALPHABET INC-CL A, BROADCOM INC.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.9%
Q2 2024
+6.6%
Q3 2024
-0.5%
Q4 2024
-3.4%
Q1 2025
+7.0%
Q2 2025
+8.2%
Q3 2025
+3.3%
Q4 2025
+2.1%
Q1 2026
+13.3%
Sector allocation
Technology 27%
Industrials 16%
Financials 13%
Consumer discretionary 9%
Energy 8%
Healthcare 8%
Services media 6%
Other 5%
Long book by quarter
What does Empowered Funds, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 2.7M | $471.4M | 3.0% | +47.5% |
| AAPL APPLE INC | Technology | 1.6M | $408.9M | 2.6% | New |
| MSFT MICROSOFT CORP | Technology | 807.0K | $298.7M | 1.9% | New |
| GOOGL ALPHABET INC-CL A | Technology | 977.7K | $281.2M | 1.8% | +85.1% |
| AVGO BROADCOM INC | Technology | 699.5K | $216.5M | 1.4% | +64.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.0M | $215.3M | 1.4% | New |
| XOM EXXON MOBIL CORP | Energy | 1.0M | $171.5M | 1.1% | -5.3% |
| META META PLATFORMS INC-CLASS A | Technology | 288.6K | $165.1M | 1.1% | +76.2% |
| CVX CHEVRON CORP | Energy | 748.9K | $154.9M | 1.0% | New |
| JPM JPMORGAN CHASE & CO | Financials | 464.4K | $136.6M | 0.9% | +84.1% |
| LLY ELI LILLY & CO | Healthcare | 137.9K | $126.8M | 0.8% | New |
| GOOG ALPHABET INC-CL C | Technology | 420.1K | $120.5M | 0.8% | +22.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 179.1K | $85.8M | 0.5% | New |
| NFLX NETFLIX INC | Services media | 858.3K | $82.5M | 0.5% | +115.0% |
| MU MICRON TECHNOLOGY INC | Technology | 243.9K | $82.4M | 0.5% | New |
| JNJ JOHNSON & JOHNSON | Healthcare | 312.4K | $76.4M | 0.5% | New |
| LRCX LAM RESEARCH CORP | Industrials | 350.2K | $74.8M | 0.5% | New |
| TSLA TESLA INC | Industrials | 182.4K | $67.8M | 0.4% | +15.9% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 67.8K | $67.5M | 0.4% | +71.7% |
| VST VISTRA CORP | Utilities | 441.1K | $66.3M | 0.4% | +611.0% |
| EXPE EXPEDIA GROUP INC | Industrials | 280.4K | $64.7M | 0.4% | +76.9% |
| GEV GE VERNOVA INC | Industrials | 71.6K | $62.5M | 0.4% | +121.8% |
| MRK MERCK & CO. INC. | Healthcare | 507.8K | $61.1M | 0.4% | -26.0% |
| NEM NEWMONT CORP | Materials | 553.2K | $59.9M | 0.4% | New |
| V VISA INC-CLASS A SHARES | Services media | 197.9K | $59.8M | 0.4% | +23.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 400.9K | $57.9M | 0.4% | New |
| WFC WELLS FARGO & CO | Financials | 685.6K | $54.6M | 0.3% | New |
| BAC BANK OF AMERICA CORP | Financials | 1.1M | $54.5M | 0.3% | New |
| CF CF INDUSTRIES HOLDINGS INC | Other | 414.3K | $53.8M | 0.3% | New |
| THC TENET HEALTHCARE CORP | Healthcare | 284.8K | $53.7M | 0.3% | +22.1% |
| MCK MCKESSON CORP | Consumer discretionary | 62.0K | $53.7M | 0.3% | +60.1% |
| CAT CATERPILLAR INC | Industrials | 75.3K | $53.3M | 0.3% | New |
| QCOM QUALCOMM INC | Technology | 412.2K | $53.1M | 0.3% | New |
| AMD ADVANCED MICRO DEVICES | Technology | 260.8K | $53.0M | 0.3% | New |
| CSCO CISCO SYSTEMS INC | Technology | 682.8K | $53.0M | 0.3% | +7.5% |
| VRT VERTIV HOLDINGS CO-A | Technology | 205.6K | $51.5M | 0.3% | +170.7% |
| WMT WALMART INC | Consumer discretionary | 410.0K | $51.0M | 0.3% | New |
| GS GOLDMAN SACHS GROUP INC | Financials | 59.7K | $50.5M | 0.3% | +207.9% |
| BKNG BOOKING HOLDINGS INC | Industrials | 11.9K | $50.3M | 0.3% | +81.8% |
| GE GENERAL ELECTRIC | Industrials | 176.4K | $50.0M | 0.3% | New |
| WDC WESTERN DIGITAL CORP | Technology | 184.3K | $49.8M | 0.3% | New |
| DECK DECKERS OUTDOOR CORP | Other | 494.6K | $49.5M | 0.3% | New |
| ABBV ABBVIE INC | Healthcare | 226.8K | $49.3M | 0.3% | +52.8% |
| FIX COMFORT SYSTEMS USA INC | Industrials | 35.5K | $49.0M | 0.3% | New |
| COP CONOCOPHILLIPS | Energy | 367.5K | $48.5M | 0.3% | +6.8% |
| PH PARKER HANNIFIN CORP | Industrials | 53.8K | $48.2M | 0.3% | New |
| MA MASTERCARD INC - A | Services media | 94.8K | $47.3M | 0.3% | +8.5% |
| HD HOME DEPOT INC | Consumer discretionary | 138.5K | $45.5M | 0.3% | New |
| RTX RTX CORP | Industrials | 235.2K | $45.4M | 0.3% | New |
| TPR TAPESTRY INC | Other | 311.3K | $43.9M | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | Jun 16, 2026 | 8620 | $15.67B | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | May 15, 2026 | 8595 | $15.68B | SEC ↗ | |
| Q4 2025 | 13F-HR/ARESTATEMENT | Feb 18, 2026 | 3248 | $5.89B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 6524 | $12.57B | SEC ↗ | |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 4604 | $9.90B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 4275 | $8.83B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 16, 2025 | 3475 | $7.03B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 3282 | $6.84B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 6, 2024 | 2563 | $6.36B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 30, 2024 | 2507 | $5.78B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR/ANEW HOLDINGS | May 7, 2024 | 2610 | $5.54B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 2610 | $5.54B | canonical | SEC ↗ |
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