Empirical Capital Management, LLC
Empirical Capital Management, LLC reported 19 US-listed holdings worth $336.4 million in its 13F for the quarter ended 30 September 2026, filed 27 October 2026. Its largest: Take-Two Interactive Software, Inc. (24.9%), Roku, Inc. (15.6%) and Fox Corp. (12.8%). Against the quarter before, it opened 5 positions, added to 3, trimmed 7 and sold out of 3.
The 14 largest of its 19 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +62.6% over the 8 quarters to 30 September 2026, against +32.9% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 5
- Eli Lilly & Co. LLY$19.2 million
- Space Exploration Techn Corp. Class A Com STK SPCX$754,000
- Doximity, Inc. DOCS$283,000
- Grail, Inc. GRAL$280,000
- Wabash Natl Corp. WNC$247,000
Added to 3
- Fox Corp. FOXA+621,600 shares · +980%
- Costco Wholesale Corp. COST+10,000 shares · +32%
- Take-Two Interactive Software, Inc. TTWO+12,900 shares · +3%
Trimmed 7
- Palantir Technologies Inc. PLTR-115,500 shares · -91%
- Roku, Inc. ROKU-97,700 shares · -22%
- Amazon.com Inc. AMZN-50,000 shares · -41%
- J.B. Hunt Transport Services, Inc. JBHT-49,900 shares · -62%
- Reddit, Inc. RDDT-56,800 shares · -36%
- Alphabet Inc. GOOGL-8,500 shares · -8%
- Tesla, Inc. TSLA-4,000 shares · -67%
Sold out of 3
- TJX Companies Inc. TJX$11.7 million last quarter
- Werner Enterprises Inc. WERN$262,000 last quarter
- Hims & Hers Health, Inc. HIMS$260,000 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Take-Two Interactive Software, Inc. TTWO | 404.3K | $83.9 million | 24.93% | +12.9K |
| Roku, Inc. ROKU | 345.7K | $52.6 million | 15.65% | -97.7K |
| Fox Corp. FOXA | 685.0K | $42.9 million | 12.76% | +621.6K |
| Costco Wholesale Corp. COST | 41.4K | $37.6 million | 11.19% | +10.0K |
| Alphabet Inc. GOOGL | 92.0K | $31.7 million | 9.41% | -8.5K |
| Eli Lilly & Co. LLY | 16.6K | $19.2 million | 5.71% | new |
| Amazon.com Inc. AMZN | 71.6K | $17.8 million | 5.30% | -50.0K |
| Walmart Inc. WMT | 170.0K | $17.7 million | 5.25% | no change |
| Reddit, Inc. RDDT | 100.0K | $14.2 million | 4.23% | -56.8K |
| J.B. Hunt Transport Services, Inc. JBHT | 30.0K | $6.7 million | 2.00% | -49.9K |
| Generac Holdings Inc. GNRC | 18.0K | $3.7 million | 1.11% | no change |
| Triumph Financial, Inc. TFIN | 50.0K | $3.0 million | 0.89% | no change |
| Palantir Technologies Inc. PLTR | 11.5K | $2.2 million | 0.64% | -115.5K |
| Xpo, Inc. XPO | 5.0K | $880,000 | 0.26% | no change |
| Space Exploration Techn Corp. Class A Com STK SPCX | 5.0K | $754,000 | 0.22% | new |
| Tesla, Inc. TSLA | 2.0K | $710,000 | 0.21% | -4.0K |
| Doximity, Inc. DOCS | 10.0K | $283,000 | 0.08% | new |
| Grail, Inc. GRAL | 2.0K | $280,000 | 0.08% | new |
| Wabash Natl Corp. WNC | 20.0K | $247,000 | 0.07% | new |