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EF

Empirical Finance Portfolio holdings

AUM $2.13B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
+9.68%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$2.1B
AUM Growth
+$190M
Cap. Flow
+$38M
Cap. Flow %
1.81%
Top 10 Hldgs %
36.85%
Holding
514
New
6
Increased
458
Reduced
19
Closed
8

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$4.04M
2
ET icon
Energy Transfer Partners
ET
+$2.79M
3
CVX icon
Chevron
CVX
+$2.76M
4
AMZN icon
Amazon
AMZN
+$2.63M
5
MS icon
Morgan Stanley
MS
+$2.52M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$2.32M
2
BTI icon
British American Tobacco
BTI
+$2.3M
3
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$2.05M
4
MOOD icon
Relative Sentiment Tactical Allocation ETF
MOOD
+$1.86M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.75M

Sector Composition

Rank Sector Weight
1 Technology 31.99%
2 Financials 11.76%
3 Communication Services 10.34%
4 Consumer Discretionary 9.7%
5 Healthcare 8.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GIS icon
301
General Mills
GIS
$19.3B
$1.04M 0.05%
20,681
+179
+0.9% +$8.97K
NOV icon
302
NOV
NOV
$7.09B
$1.03M 0.05%
77,948
+441
+0.6% +$5.7K
VOO icon
303
Vanguard S&P 500 ETF
VOO
$1.01T
$1.03M 0.05%
1,684
+5
+0.3% +$2.95K
DTE icon
304
DTE Energy
DTE
$29.1B
$1.03M 0.05%
7,255
+72
+1% +$9.86K
ADT icon
305
ADT
ADT
$5.59B
$1.02M 0.05%
116,595
+667
+0.6% +$5.72K
PR
306
Permian Resources
PR
$17B
$1.01M 0.05%
78,869
+451
+0.6% +$6.18K
NTRS icon
307
Northern Trust
NTRS
$33.7B
$997K 0.05%
7,408
+61
+0.8% +$7.85K
HSY icon
308
Hershey
HSY
$36.8B
$995K 0.05%
5,319
+52
+1% +$9.45K
ULTA icon
309
Ulta Beauty
ULTA
$23.2B
$995K 0.05%
1,819
+16
+0.9% +$8.2K
CNC icon
310
Centene
CNC
$31.7B
$994K 0.05%
27,870
+309
+1% +$9.33K
ATNI icon
311
ATN International
ATNI
$471M
$989K 0.05%
66,075
– –
MTD icon
312
Mettler-Toledo International
MTD
$28.5B
$982K 0.05%
800
+9
+1% +$11.3K
PPL
313
PPL Corp
PPL
$26B
$980K 0.05%
26,372
+254
+1% +$9.13K
CNH
314
CNH Industrial
CNH
$17.4B
$979K 0.05%
90,230
+523
+0.6% +$6.39K
BR icon
315
Broadridge
BR
$18.8B
$979K 0.05%
4,110
+41
+1% +$10.2K
DVN icon
316
Devon Energy
DVN
$49.7B
$965K 0.05%
27,527
+201
+0.7% +$6.84K
AEE icon
317
Ameren
AEE
$30B
$964K 0.05%
9,238
+95
+1% +$9.48K
CALM icon
318
Cal-Maine
CALM
$3.98B
$958K 0.05%
10,182
+59
+0.6% +$6.3K
AWK icon
319
American Water Works
AWK
$26.8B
$950K 0.05%
6,822
+70
+1% +$9.89K
SLB icon
320
SLB Ltd
SLB
$76.5B
$946K 0.05%
27,535
+176
+0.6% +$6.12K
CCK icon
321
Crown Holdings
CCK
$13.2B
$944K 0.04%
9,769
+56
+0.6% +$5.62K
TDY icon
322
Teledyne Technologies
TDY
$31.9B
$937K 0.04%
1,599
+17
+1% +$9.31K
CBOE icon
323
Cboe Global Markets
CBOE
$30.2B
$931K 0.04%
3,795
+36
+1% +$8.65K
BX icon
324
Blackstone
BX
$107B
$929K 0.04%
5,438
+258
+5% +$44.2K
DECK icon
325
Deckers Outdoor
DECK
$13.3B
$922K 0.04%
9,098
+99
+1% +$10.8K
11 12
13
14 15

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AAP
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BCM
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NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
Index Venture Associates VI St. Helier, Channel Islands, Jersey $2.11B AUM 13.76% 1-Year Est. Return
GA
General Atlantic New York $2.15B AUM 35.02% 1-Year Est. Return
HJGA
Hardman Johnston Global Advisors Stamford, Connecticut $2.1B AUM 41.89% 1-Year Est. Return
CF
Centaurus Financial Anaheim, California $2.1B AUM 21.28% 1-Year Est. Return
BWC
Blue Whale Capital London, United Kingdom $2.1B AUM 97.03% 1-Year Est. Return

Empirical Finance's Q3 2025 Portfolio in Review

As of Q3 2025, Empirical Finance held 514 positions worth $2.1B, up 10% from $1.91B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 2.7%. Empirical Finance opened 6 new positions and exited 8, leaving the 514-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

  • Empirical Finance's largest Q3 2025 buy was Diageo: 11,089 shares worth $1.06M.
  • Empirical Finance added most to TSMC in Q3 2025, an estimated $4.04M increase.
  • Empirical Finance's biggest Q3 2025 reduction was Alpha Architect International Quantitative Value ETF, cutting an estimated $2.05M.
  • Empirical Finance fully exited Hess in Q3 2025, selling an estimated $2.32M.
  • Empirical Finance's ten largest holdings make up 37% of its $2.1B portfolio in Q3 2025.
  • Empirical Finance opened 6 new positions and closed 8 in Q3 2025.
  • Empirical Finance's portfolio value rose 10% quarter-over-quarter to $2.1B.

Based on Empirical Finance's 13F filing for Q3 2025, filed 13 Nov 2025.