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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
GPC icon
376
Genuine Parts
GPC
$18.3B
$711K 0.03%
5,128
+46
+0.9% +$6.17K
KHC icon
377
Kraft Heinz
KHC
$29.6B
$708K 0.03%
27,205
+285
+1% +$7.74K
PKG icon
378
Packaging Corp of America
PKG
$22.5B
$707K 0.03%
3,245
+32
+1% +$6.6K
L icon
379
Loews
L
$23.7B
$697K 0.03%
6,941
+55
+0.8% +$5.2K
FFIV icon
380
F5
FFIV
$23.5B
$695K 0.03%
2,151
+21
+1% +$6.57K
GLD icon
381
SPDR Gold Trust
GLD
$138B
$691K 0.03%
1,945
– –
J icon
382
Jacobs Solutions
J
$16.9B
$684K 0.03%
4,561
+39
+0.9% +$5.6K
LUV icon
383
Southwest Airlines
LUV
$23B
$683K 0.03%
21,389
+159
+0.7% +$5.2K
PFG icon
384
Principal Financial Group
PFG
$24.7B
$679K 0.03%
8,185
+64
+0.8% +$5.12K
EXPD icon
385
Expeditors International
EXPD
$23.2B
$673K 0.03%
5,490
+44
+0.8% +$5.23K
WST icon
386
West Pharmaceutical
WST
$24.5B
$661K 0.03%
2,521
+24
+1% +$5.83K
K
387
DELISTED
Kellanova
K
$656K 0.03%
7,993
-5
-0.1% -$398
LVS icon
388
Las Vegas Sands
LVS
$29.9B
$638K 0.03%
11,862
+95
+0.8% +$5K
NI icon
389
NiSource
NI
$20.8B
$637K 0.03%
14,705
+163
+1% +$6.75K
WAT icon
390
Waters Corp
WAT
$39.2B
$634K 0.03%
2,116
+24
+1% +$7.24K
KEY icon
391
KeyCorp
KEY
$24.3B
$634K 0.03%
33,903
+301
+0.9% +$5.57K
CF icon
392
CF Industries
CF
$17.9B
$625K 0.03%
6,966
+47
+0.7% +$4.19K
TXT icon
393
Textron
TXT
$15.1B
$621K 0.03%
7,348
+58
+0.8% +$4.72K
EVRG icon
394
Evergy
EVRG
$19.1B
$621K 0.03%
8,163
+81
+1% +$5.77K
LNT icon
395
Alliant Energy
LNT
$18B
$613K 0.03%
9,089
+91
+1% +$5.87K
FTV icon
396
Fortive
FTV
$18.4B
$610K 0.03%
12,448
+116
+0.9% +$5.72K
IP icon
397
International Paper
IP
$21.5B
$603K 0.03%
12,986
+180
+1% +$8.79K
OSG
398
Octave Specialty Group
OSG
$255M
$602K 0.03%
72,182
– –
MKC icon
399
McCormick & Company Non-Voting
MKC
$14.1B
$600K 0.03%
8,970
+92
+1% +$6.44K
HOLX
400
DELISTED
Hologic
HOLX
$596K 0.03%
8,828
+76
+0.9% +$5.04K
14 15
16
17 18

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AAP
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BCM
Basswood Capital Management New York $2.12B AUM 19.53% 1-Year Est. Return
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.