Empowered Funds, LLC

NEWTOWN SQUARE, PA · CIK 1592828 · 13F filing filed 2026-08-17

SEC-registered investment adviser since 2014 · limited liability company

Assets managed$29.7bn
Staff44 · 6 in investment roles
Main clients (by assets)Mutual funds and ETFs 97%, High net worth individuals 3%
Websiteetfarchitect.com
Form ADV · 2026-03-18SEC adviser record

Legal entityEMPOWERED FUNDS, LLC (US)

Kindmutual funds, futures
Others nearbyNewtown Square, PA

$19.0bn reported value +21.1% vs Q1 2026

2,112positions

17.4%in top 10

224 new 1,053 added 744 reduced 214 sold out vs Q1 2026

This report includes the holdings of 37 other managers that share the investment decisions:

BRIDGEWAY CAPITAL MANAGEMENT, LLC – files its own report too; $2.8bn of shares are in both
Empirical Finance, LLC – files its own report too; $1.4bn of shares are in both
SAPIENT CAPITAL LLC – files its own report too; $1.3bn of shares are in both
BURNEY CO/ – files its own report too; $839.8m of shares are in both
Sequoia Financial Advisors, LLC – files its own report too; $767.5m of shares are in both
Cambria Investment Management, L.P. – files its own report too; $620.6m of shares are in both
ARS Investment Partners, LLC – files its own report too; $306.0m of shares are in both
STANCE CAPITAL LLC – files its own report too; $208.4m of shares are in both

29 more

TOWLE & CO – files its own report too; $203.6m of shares are in both
ARGENT CAPITAL MANAGEMENT LLC – files its own report too; $190.2m of shares are in both
Amplius Wealth Advisors, LLC – files its own report too; $159.3m of shares are in both
Astoria Portfolio Advisors LLC. – files its own report too; $131.4m of shares are in both
KEATING INVESTMENT COUNSELORS INC – files its own report too; $91.7m of shares are in both
MATRIX ASSET ADVISORS INC/NY – files its own report too; $88.2m of shares are in both
Suncoast Equity Management – files its own report too; $60.6m of shares are in both
RITHOLTZ WEALTH MANAGEMENT – files its own report too; $55.5m of shares are in both
Smart Money Group LLC – files its own report too; $47.1m of shares are in both
MORGAN DEMPSEY CAPITAL MANAGEMENT LLC – files its own report too; $39.0m of shares are in both
Avory & Company, LLC – files its own report too; $36.0m of shares are in both
Freedom Day Solutions, LLC – files its own report too; $29.0m of shares are in both
Warren Street Wealth Advisors, LLC – files its own report too; $25.8m of shares are in both
Sepio Capital, LP – files its own report too; $24.6m of shares are in both
DIVIDEND ASSETS CAPITAL, LLC – files its own report too; $15.0m of shares are in both
Altrius Capital Management Inc – files its own report too; $13.8m of shares are in both
Orcam Financial Group – files its own report too; $11.4m of shares are in both
Avos Capital Management, LLC – files its own report too; $3.0m of shares are in both
Castellan Group – files its own report too; $2.8m of shares are in both
Rock Creek Group LLC – files its own report too; $477.7k of shares are in both
Strive Asset Management, LLC – files its own report too
Arin Risk Advisors, LLC – reports through this filing
Euclidean Technologies Management, LLC – reports through this filing
Gadsden, LLC – reports through this filing
JLens – reports through this filing
Madison Avenue Financial Solutions, LLC – reports through this filing
MarketDesk Indices LLC – reports through this filing
Militia Investments, LLC – reports through this filing
Research Affiliates, LLC – reports through this filing

Also in the report of:

Cambria Investment Management, L.P. – $620.6m of shares are in both reports
STANCE CAPITAL LLC – $208.4m of shares are in both reports
Angel Oak Capital Advisors, LLC

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	3,016,930	$603.7m3.18%	3.18%	Added +314.0k	+313,966 11.6%
2	APPLE INC COM AAPL	AAPL	1,607,892	$465.3m2.45%	2.45%	Reduced -3.2k	-3,235 -0.2%
3	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	835,931	$399.2m2.10%	2.10%	Added +649.5k	+649,517 348.4%
4	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,060,925	$379.1m2.00%	2.00%	Added +83.2k	+83,214 8.5%
5	MICRON TECHNOLOGY INC COM MU	MU	275,818	$318.4m1.68%	1.68%	Added +31.9k	+31,876 13.1%
6	AMAZON COM INC COM AMZN	AMZN	1,228,034	$292.7m1.54%	1.54%	Added +194.5k	+194,519 18.8%
7	MICROSOFT CORP COM MSFT	MSFT	705,569	$263.2m1.39%	1.39%	Reduced -101.4k	-101,404 -12.6%
8	BROADCOM INC COM AVGO	AVGO	674,343	$254.7m1.34%	1.34%	Reduced -25.2k	-25,161 -3.6%
9	ELI LILLY & CO COM LLY	LLY	138,183	$165.7m0.87%	0.87%	Added +297	+297 0.2%
10	META PLATFORMS INC CL A META	META	288,471	$162.5m0.86%	0.86%	Reduced -115	-115 -0.0%
11	EXXON MOBIL CORP COM XOM	XOM	1,146,087	$156.7m0.83%	0.83%	Added +135.4k	+135,417 13.4%
12	JPMORGAN CHASE & CO COM JPM	JPM	475,472	$155.6m0.82%	0.82%	Added +11.1k	+11,078 2.4%
13	ADVANCED MICRO DEVICES INC COM AMD	AMD	251,408	$146.0m0.77%	0.77%	Reduced -9.4k	-9,369 -3.6%
14	LAM RESEARCH CORP COM NEW LRCX	LRCX	312,654	$135.5m0.71%	0.71%	Reduced -37.5k	-37,502 -10.7%
15	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	1,899,607	$135.3m0.71%	0.71%	Reduced -36.8k	-36,791 -1.9%
16	CHEVRON CORP NEW COM CVX	CVX	794,393	$131.7m0.69%	0.69%	Added +45.5k	+45,511 6.1%
17	ALPHABET INC CAP STK CL C GOOG	GOOG	367,487	$129.8m0.68%	0.68%	Reduced -52.7k	-52,662 -12.5%
18	ISHARES TR CORE MSCI INTL IDEV	IDEV	1,275,964	$113.6m0.60%	0.60%	Reduced -14.3k	-14,267 -1.1%
19	EXPEDIA GROUP INC COM NEW EXPE	EXPE	427,776	$109.5m0.58%	0.58%	Added +147.4k	+147,384 52.6%
20	EA SERIES TRUST ALPHA ARCH 1-3 BOXX	BOXX	923,075	$108.1m0.57%	0.57%	Reduced -36.0k	-35,950 -3.8%
21	WESTERN DIGITAL CORP COM WDC	WDC	152,676	$97.5m0.51%	0.51%	Reduced -31.6k	-31,611 -17.1%
22	COSTCO WHSL CORP NEW COM COST	COST	100,519	$94.0m0.50%	0.50%	Added +32.7k	+32,728 48.3%
23	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	1,537,403	$91.8m0.48%	0.48%	Added +212.8k	+212,753 16.1%
24	GE VERNOVA INC COM GEV	GEV	77,028	$90.5m0.48%	0.48%	Added +5.5k	+5,470 7.6%
25	VISTRA CORP COM VST	VST	563,170	$89.3m0.47%	0.47%	Added +122.1k	+122,059 27.7%
26	JOHNSON & JOHNSON COM JNJ	JNJ	348,850	$88.6m0.47%	0.47%	Added +36.5k	+36,477 11.7%
27	GOLDMAN SACHS GROUP INC COM GS	GS	85,766	$86.7m0.46%	0.46%	Added +26.1k	+26,094 43.7%
28	TESLA INC COM TSLA	TSLA	201,519	$84.8m0.45%	0.45%	Added +19.2k	+19,163 10.5%
29	APPLIED MATLS INC COM AMAT	AMAT	117,109	$84.7m0.45%	0.45%	Reduced -8.7k	-8,656 -6.9%
30	CITIGROUP INC COM NEW C	C	559,997	$78.4m0.41%	0.41%	Added +410.6k	+410,567 274.8%
31	CATERPILLAR INC COM CAT	CAT	72,272	$77.0m0.41%	0.41%	Reduced -3.0k	-3,009 -4.0%
32	PALO ALTO NETWORKS INC COM PANW	PANW	223,656	$76.3m0.40%	0.40%	Added +2.2k	+2,178 1.0%
33	VERTIV HOLDINGS CO COM CL A VRT	VRT	226,136	$75.7m0.40%	0.40%	Added +20.5k	+20,501 10.0%
34	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	150,255	$75.2m0.40%	0.40%	Reduced -28.8k	-28,819 -16.1%
35	MERCK & CO INC COM MRK	MRK	576,918	$74.1m0.39%	0.39%	Added +69.1k	+69,103 13.6%
36	CISCO SYS INC COM CSCO	CSCO	614,435	$72.2m0.38%	0.38%	Reduced -68.4k	-68,407 -10.0%
37	NETFLIX INC COM NFLX	NFLX	1,007,619	$71.9m0.38%	0.38%	Added +149.3k	+149,271 17.4%
38	SCHWAB STRATEGIC TR INT-TRM U.S TRES SCHR	SCHR	2,862,224	$70.3m0.37%	0.37%	Added +928.6k	+928,602 48.0%
39	INTEL CORP COM INTC	INTC	495,228	$69.1m0.36%	0.36%	Added +31.6k	+31,618 6.8%
40	BOOKING HOLDINGS INC COM BKNG	BKNG	373,458	$66.6m0.35%	0.35%	Added +74.8k	+74,783 25.0%
41	BANK AMERICA CORP COM BAC	BAC	1,155,193	$65.8m0.35%	0.35%	Added +36.6k	+36,607 3.3%
42	VISA INC COM CL A V	V	184,441	$63.3m0.33%	0.33%	Reduced -13.5k	-13,495 -6.8%
43	VANGUARD MALVERN FDS STRM INFPROIDX VTIP	VTIP	1,258,283	$62.3m0.33%	0.33%	Reduced -89.5k	-89,482 -6.6%
44	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	83,446	$61.4m0.32%	0.32%	New
45	VALERO ENERGY CORP COM VLO	VLO	231,804	$60.4m0.32%	0.32%	Added +115.2k	+115,245 98.9%
46	UNITEDHEALTH GROUP INC COM UNH	UNH	139,558	$58.0m0.31%	0.31%	Added +24.3k	+24,274 21.1%
47	ISHARES TR CORE S&P TTL STK ITOT	ITOT	352,671	$57.9m0.31%	0.31%	New
48	COMFORT SYS USA INC COM FIX	FIX	28,872	$57.2m0.30%	0.30%	Reduced -6.6k	-6,639 -18.7%
49	WELLS FARGO CO NEW COM WFC	WFC	691,898	$57.2m0.30%	0.30%	Added +6.3k	+6,296 0.9%
50	AMERICAN CENTY ETF TR INTL SMCP VLU AVDV	AVDV	548,409	$56.5m0.30%	0.30%	Added +5.1k	+5,126 0.9%
51	AMERICAN CENTY ETF TR REAL ESTATE ETF AVRE	AVRE	1,191,067	$56.4m0.30%	0.30%	Reduced -46.5k	-46,505 -3.8%
52	MARATHON PETE CORP COM MPC	MPC	219,714	$56.2m0.30%	0.30%	Added +82.6k	+82,611 60.2%
53	KLA CORP COM NEW KLAC	KLAC	181,205	$54.7m0.29%	0.29%	Reduced -27.4k	-27,375 -13.1%
54	NEWMONT CORP COM NEM	NEM	578,679	$54.0m0.28%	0.28%	Added +25.5k	+25,501 4.6%
55	EA SERIES TRUST ALPHA ARCHITECT CAOS	CAOS	597,146	$54.0m0.28%	0.28%	Unchanged
56	GE AEROSPACE COM NEW GE	GE	143,854	$53.8m0.28%	0.28%	Reduced -32.5k	-32,500 -18.4%
57	QUALCOMM INC COM QCOM	QCOM	290,133	$53.6m0.28%	0.28%	Reduced -122.0k	-122,018 -29.6%
58	PROCTER AND GAMBLE CO COM PG	PG	365,172	$53.5m0.28%	0.28%	Reduced -35.7k	-35,745 -8.9%
59	MASTERCARD INCORPORATED CL A MA	MA	102,335	$52.6m0.28%	0.28%	Added +7.6k	+7,578 8.0%
60	ARISTA NETWORKS INC COM SHS ANET	ANET	308,143	$52.3m0.28%	0.28%	Added +73.3k	+73,326 31.2%
61	EOG RES INC COM EOG	EOG	398,969	$51.8m0.27%	0.27%	Added +101.8k	+101,826 34.3%
62	ISHARES TR 0-5 YR TIPS ETF STIP	STIP	512,062	$51.7m0.27%	0.27%	Added +4.1k	+4,061 0.8%
63	UNITED MICROELECTRONICS CORP SPON ADR NEW UMC	UMC	1,891,076	$51.5m0.27%	0.27%	New
64	SANDISK CORP COM SNDK	SNDK	22,599	$51.4m0.27%	0.27%	Reduced -10.2k	-10,243 -31.2%
65	CONOCOPHILLIPS COM COP	COP	493,005	$51.3m0.27%	0.27%	Added +125.5k	+125,499 34.1%
66	ABBVIE INC COM ABBV	ABBV	202,359	$50.9m0.27%	0.27%	Reduced -24.5k	-24,477 -10.8%
67	WALMART INC COM WMT	WMT	445,557	$50.5m0.27%	0.27%	Added +35.6k	+35,552 8.7%
68	TENET HEALTHCARE CORP COM NEW THC	THC	269,440	$50.4m0.27%	0.27%	Reduced -15.3k	-15,313 -5.4%
69	FORTINET INC COM FTNT	FTNT	327,582	$50.3m0.27%	0.27%	Added +170.3k	+170,276 108.2%
70	BREAD FINANCIAL HOLDINGS INC COM BFH	BFH	461,938	$50.1m0.26%	0.26%	Added +268.8k	+268,815 139.2%
71	ASCENDIS PHARMA A/S ORD SHS ASND	ASND	187,271	$49.9m0.26%	0.26%	New
72	MONOLITHIC PWR SYS INC COM MPWR	MPWR	35,700	$49.4m0.26%	0.26%	Added +1.6k	+1,607 4.7%
73	VERIZON COMMUNICATIONS INC COM VZ	VZ	1,165,380	$49.3m0.26%	0.26%	Added +290.9k	+290,920 33.3%
74	HOME DEPOT INC COM HD	HD	133,854	$47.2m0.25%	0.25%	Reduced -4.6k	-4,608 -3.3%
75	COCA COLA CO COM KO	KO	567,041	$46.1m0.24%	0.24%	Added +60.2k	+60,180 11.9%
76	AMERICAN CENTY ETF TR EMERGING MKT VAL AVES	AVES	695,217	$45.6m0.24%	0.24%	Reduced -18.6k	-18,584 -2.6%
77	ISHARES TR CORE S&P500 ETF IVV	IVV	60,679	$45.4m0.24%	0.24%	Added +35.5k	+35,481 140.8%
78	DELL TECHNOLOGIES INC CL C DELL	DELL	101,980	$44.0m0.23%	0.23%	Reduced -23.8k	-23,817 -18.9%
79	JABIL INC COM JBL	JBL	112,646	$43.4m0.23%	0.23%	Reduced -45.3k	-45,289 -28.7%
80	RTX CORPORATION COM RTX	RTX	226,939	$43.1m0.23%	0.23%	Reduced -8.3k	-8,258 -3.5%
81	VIRTU FINL INC CL A VIRT	VIRT	713,559	$42.5m0.22%	0.22%	Added +606.8k	+606,784 568.3%
82	TEXAS INSTRS INC COM TXN	TXN	142,324	$42.4m0.22%	0.22%	Reduced -12.0k	-12,019 -7.8%
83	ABRDN ETFS BBRG ALL COMD K1 BCI	BCI	1,858,368	$41.5m0.22%	0.22%	Added +1.5m	+1,490,897 405.7%
84	MORGAN STANLEY COM NEW MS	MS	194,020	$40.6m0.21%	0.21%	Reduced -58.8k	-58,768 -23.2%
85	MARVELL TECHNOLOGY INC COM MRVL	MRVL	134,050	$39.9m0.21%	0.21%	Reduced -3.4k	-3,393 -2.5%
86	DAVE INC CLASS A COM NEW DAVE	DAVE	105,686	$39.4m0.21%	0.21%	New
87	MCKESSON CORP COM MCK	MCK	51,413	$38.8m0.20%	0.20%	Reduced -10.6k	-10,634 -17.1%
88	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	399,081	$38.5m0.20%	0.20%	Added +153.5k	+153,518 62.5%
89	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	136,324	$38.3m0.20%	0.20%	Added +3.9k	+3,871 2.9%
90	TAPESTRY INC COM TPR	TPR	257,479	$37.7m0.20%	0.20%	Reduced -53.8k	-53,818 -17.3%
91	DECKERS OUTDOOR CORP COM DECK	DECK	376,258	$37.4m0.20%	0.20%	Reduced -118.3k	-118,330 -23.9%
92	TJX COS INC NEW COM TJX	TJX	245,638	$37.2m0.20%	0.20%	Added +12.0k	+12,019 5.1%
93	ZOOM COMMUNICATIONS INC CL A ZM	ZM	423,954	$36.6m0.19%	0.19%	Added +118.1k	+118,133 38.6%
94	APPLOVIN CORP COM CL A APP	APP	68,677	$35.4m0.19%	0.19%	Reduced -6.0k	-5,956 -8.0%
95	MODINE MFG CO COM MOD	MOD	132,490	$35.4m0.19%	0.19%	Reduced -6	-6 0.0%
96	EQT CORP COM EQT	EQT	660,166	$35.1m0.18%	0.18%	Added +367.5k	+367,523 125.6%
97	AMGEN INC COM AMGN	AMGN	95,907	$34.7m0.18%	0.18%	Added +14.8k	+14,823 18.3%
98	UBER TECHNOLOGIES INC COM UBER	UBER	480,822	$34.7m0.18%	0.18%	Added +41.1k	+41,086 9.3%
99	ROKU INC COM CL A ROKU	ROKU	250,148	$34.6m0.18%	0.18%	Added +213.9k	+213,921 590.5%
100	MCDONALDS CORP COM MCD	MCD	127,603	$34.5m0.18%	0.18%	Added +15.9k	+15,894 14.2%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GRANITESHARES ETF TR COMB	COMB	1,005,490	$26.4m1.0m shares
KRATOS DEFENSE & SEC SOLUTIO KTOS	KTOS	366,154	$25.8m366.2k shares
SELECT SECTOR SPDR TR XLE	XLE	351,173	$21.5m351.2k shares
VANGUARD SCOTTSDALE FDS VGIT	VGIT	352,227	$20.9m352.2k shares
HONEYWELL INTL INC		36,662	$16.6m36.7k shares
CARNIVAL CORP		539,894	$14.0m539.9k shares
EA SERIES TRUST BRNY	BRNY	277,681	$13.5m277.7k shares
WISDOMTREE TR USDU	USDU	512,482	$13.5m512.5k shares
VANGUARD SCOTTSDALE FDS VGSH	VGSH	218,292	$12.7m218.3k shares
KARMAN HLDGS INC KRMN	KRMN	149,385	$12.0m149.4k shares
ASCENDIS PHARMA A/S		51,135	$11.7m51.1k shares
ENERGY FUELS INC UUUU	UUUU	511,478	$9.3m511.5k shares
FERRARI N V RACE	RACE	27,038	$9.2m27.0k shares
COTERRA ENERGY INC CTRA	CTRA	248,919	$8.7m248.9k shares
VICOR CORP VICR	VICR	51,091	$8.2m51.1k shares
HUNTINGTON INGALLS INDS INC HII	HII	19,733	$7.5m19.7k shares
JETBLUE AWYS CORP JBLU	JBLU	1,432,400	$6.3m1.4m shares
WISDOMTREE TR DGS	DGS	104,359	$6.3m104.4k shares
WISDOMTREE TR DEM	DEM	124,826	$6.2m124.8k shares
APELLIS PHARMACEUTICALS INC APLS	APLS	148,038	$6.0m148.0k shares
AMPLIFY ETF TR SILJ	SILJ	145,789	$4.3m145.8k shares
HEALTHCARE SVCS GROUP INC HCSG	HCSG	215,824	$4.0m215.8k shares
SUN CTRY AIRLS HLDGS INC SNCY	SNCY	239,267	$4.0m239.3k shares
NORTHWEST BANCSHARES INC MD NWBI	NWBI	295,320	$3.7m295.3k shares
MADISON SQUARE GRDN SPRT COR MSGS	MSGS	11,309	$3.6m11.3k shares