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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
+13.3%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$1.91B
AUM Growth
+$254M
Cap. Flow
+$81.8M
Cap. Flow %
4.28%
Top 10 Hldgs %
34.79%
Holding
550
New
46
Increased
404
Reduced
47
Closed
42

Top Buys

Rank Stock Value
1
CAOS icon
Alpha Architect Tail Risk ETF
CAOS
+$14.2M
2
WES icon
Western Midstream Partners
WES
+$4.67M
3
KR icon
Kroger
KR
+$4.43M
4
TSM icon
TSMC
TSM
+$3.85M
5
CPA icon
Copa Holdings
CPA
+$3.79M

Top Sells

Rank Stock Value
1
DFS
Discover Financial Services
DFS
+$1.55M
2
SHV icon
iShares 0-1 Year Treasury Bond ETF
SHV
+$1.16M
3
THC icon
Tenet Healthcare
THC
+$1.13M
4
GPK icon
Graphic Packaging
GPK
+$1.05M
5
UFPI icon
UFP Industries
UFPI
+$997K

Sector Composition

Rank Sector Weight
1 Technology 30.6%
2 Financials 12.06%
3 Communication Services 10.15%
4 Consumer Discretionary 9.62%
5 Healthcare 9.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSGP icon
376
CoStar Group
CSGP
$12B
$673K 0.04%
8,376
+114
+1% +$8.88K
MKC icon
377
McCormick & Company Non-Voting
MKC
$13.8B
$673K 0.04%
8,878
+59
+0.7% +$4.42K
EL icon
378
Estee Lauder
EL
$30.5B
$668K 0.04%
8,273
+57
+0.7% +$3.67K
KDP icon
379
Keurig Dr Pepper
KDP
$42.1B
$667K 0.03%
20,190
+486
+2% +$16.4K
DOW icon
380
Dow Inc
DOW
$21.3B
$660K 0.03%
24,919
+156
+0.6% +$4.54K
BIIB icon
381
Biogen
BIIB
$29.8B
$657K 0.03%
5,233
+31
+0.6% +$3.86K
PFG icon
382
Principal Financial Group
PFG
$24.6B
$645K 0.03%
8,121
+51
+0.6% +$3.92K
FTV icon
383
Fortive
FTV
$18B
$643K 0.03%
12,332
-3,930
-24% -$206K
HAL icon
384
Halliburton
HAL
$26.9B
$640K 0.03%
31,425
-15,964
-34% -$335K
CF icon
385
CF Industries
CF
$18B
$637K 0.03%
6,919
+39
+0.6% +$3.32K
K
386
DELISTED
Kellanova
K
$636K 0.03%
7,998
-6
-0.1% -$490
BALL icon
387
Ball Corp
BALL
$16.8B
$636K 0.03%
11,334
+68
+0.6% +$3.55K
CTRA
388
DELISTED
Coterra Energy
CTRA
$632K 0.03%
24,889
+168
+0.7% +$4.26K
L icon
389
Loews
L
$23.6B
$631K 0.03%
6,886
+40
+0.6% +$3.51K
FFIV icon
390
F5
FFIV
$23.4B
$627K 0.03%
2,130
+15
+0.7% +$4.14K
EXPD icon
391
Expeditors International
EXPD
$22.9B
$622K 0.03%
5,446
+33
+0.6% +$3.69K
GPC icon
392
Genuine Parts
GPC
$17.9B
$616K 0.03%
5,082
+33
+0.7% +$3.97K
MAT icon
393
Mattel
MAT
$4.25B
$611K 0.03%
31,009
+2,403
+8% +$42.8K
PKG icon
394
Packaging Corp of America
PKG
$22.4B
$605K 0.03%
3,213
+22
+0.7% +$4.16K
WSM icon
395
Williams-Sonoma
WSM
$29.2B
$604K 0.03%
3,696
+123
+3% +$19.3K
IP icon
396
International Paper
IP
$22.2B
$600K 0.03%
12,806
+179
+1% +$8.46K
GEN icon
397
Gen Digital
GEN
$17B
$596K 0.03%
20,274
+123
+0.6% +$3.36K
J icon
398
Jacobs Solutions
J
$16.6B
$594K 0.03%
4,522
-14
-0.3% -$1.73K
GLD icon
399
SPDR Gold Trust
GLD
$132B
$593K 0.03%
1,945
– –
KVUE icon
400
Kenvue
KVUE
$36.4B
$593K 0.03%
28,309
+491
+2% +$11.2K
14 15
16
17 18

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AAP
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BCM
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SC
SouthState Corp Winter Haven, Florida $2.14B AUM 18.39% 1-Year Est. Return
NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
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GA
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HJGA
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CF
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Empirical Finance's Q2 2025 Portfolio in Review

As of Q2 2025, Empirical Finance held 550 positions worth $1.91B, up 15% from $1.66B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Empirical Finance deployed $81.8M of net new capital in Q2 2025, opening 46 new positions and adding to 404 existing holdings. Its largest new stake was Western Midstream Partners: 122,699 shares worth $4.75M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 28% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was AT&T, an estimated $927K trimmed.

  • Empirical Finance's largest Q2 2025 buy was Western Midstream Partners: 122,699 shares worth $4.75M.
  • Empirical Finance added most to Alpha Architect Tail Risk ETF in Q2 2025, an estimated $14.2M increase.
  • Empirical Finance's biggest Q2 2025 reduction was AT&T, cutting an estimated $927K.
  • Empirical Finance fully exited Discover Financial Services in Q2 2025, selling an estimated $1.55M.
  • Empirical Finance's ten largest holdings make up 35% of its $1.91B portfolio in Q2 2025.
  • Empirical Finance opened 46 new positions and closed 42 in Q2 2025.
  • Empirical Finance's portfolio value rose 15% quarter-over-quarter to $1.91B.

Based on Empirical Finance's 13F filing for Q2 2025, filed 11 Aug 2025.