Alpha Architect, Llc
- Regulatory AUM
- $13.5B
- Discretionary
- $13.5B
- Clients
- 135
- Avg AUM / client
- $100M
- Accounts
- 135
- Employees
- 12
AUM over time
Annual snapshots from Form ADV filings · as of Jun 15, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 28 | $62.8M | 0.47% |
| High net worth individuals | 88 | $789M | 5.85% |
| Investment companies | 11 | $12.5B | 92.6% |
| Corporations and other businesses | 8 | $147M | 1.09% |
People (8)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Wesley Robert Gray | Chief Executive Officer/Chief Investment Officer/Chief Compliance Officer | Jul 2010 (16y) | ≈ 37.5% – 75% via Empirical Finance, Llc | |
| John Robert Vogel | Chief Financial Officer | Mar 2012 (14y) | Less than 5% | |
| Patrick Russell Cleary | Managing Member | Oct 2014 (12y) | GP / trustee / elected manager of Empirical Finance, Llc (indirect) | |
| Babulak, David, Michael | Trustee | Jan 2017 (10y) | GP / trustee / elected manager of Babulak Family Trust (indirect) | |
| Babulak, Lien | Trustee | Jan 2017 (10y) | GP / trustee / elected manager of Babulak Family Trust (indirect) | |
| Sebastian Douglas Pugliese | Registered representative | Nov 2016 (10y) | ||
| Richard Kyle Baxter | Registered representative | CFA | Jan 2017 (10y) | |
| Erik Chavez | Registered representative | Sep 2025 (1y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Empirical Finance, Llc | Member | Apr 2014 | A | 75% or more |
| Babulak Family Trust | Member | Jan 2017 | B | GP / trustee / elected manager of Empirical Finance, Llc (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Wesley Robert Gray: 50% – 75% of Empirical Finance, Llc × 75% – 100% direct ≈ 37.5% – 75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/15/2026 | 1.01 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Fixed fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for investment companies
- • Portfolio management for businesses/institutional clients
- • Other services
Custody
Reported custodians
- Interactive Brokers $712M (5% of AUM) Jun 2026
- State Street $52.1M (11% of AUM) Oct 2019
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jun 15, 2026.
View current Form ADV (SEC/IAPD) ↗