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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
BAC icon
26
Bank of America
BAC
$429B
$11.5M 0.6%
242,519
+1,436
+0.6% +$60.4K
ABBV icon
27
AbbVie
ABBV
$465B
$11.4M 0.6%
61,266
+391
+0.6% +$72.7K
UNH icon
28
UnitedHealth
UNH
$382B
$10.8M 0.57%
34,763
+2,589
+8% +$989K
WFC icon
29
Wells Fargo
WFC
$254B
$10.2M 0.54%
127,906
+704
+0.6% +$50.8K
ORCL icon
30
Oracle
ORCL
$339B
$10.1M 0.53%
45,970
+375
+0.8% +$60.6K
CSCO icon
31
Cisco
CSCO
$443B
$9.9M 0.52%
142,763
-11,794
-8% -$725K
QMOM icon
32
Alpha Architect US Quantitative Momentum ETF
QMOM
$408M
$9.88M 0.52%
152,100
-8,136
-5% -$489K
PM icon
33
Philip Morris
PM
$309B
$9.81M 0.51%
53,860
+340
+0.6% +$58.4K
GE icon
34
GE Aerospace
GE
$364B
$9.74M 0.51%
37,839
+241
+0.6% +$52.9K
KO icon
35
Coca-Cola
KO
$383B
$9.57M 0.5%
135,222
+849
+0.6% +$60.5K
IBM icon
36
IBM
IBM
$213B
$9.27M 0.49%
31,461
+203
+0.6% +$52.3K
CRM icon
37
Salesforce
CRM
$154B
$9.11M 0.48%
33,421
+216
+0.7% +$57.7K
CVX icon
38
Chevron
CVX
$382B
$8.77M 0.46%
61,257
+363
+0.6% +$51.2K
ABT icon
39
Abbott
ABT
$187B
$8.26M 0.43%
60,696
+395
+0.7% +$52.1K
GS icon
40
Goldman Sachs
GS
$289B
$8.11M 0.42%
11,461
+72
+0.6% +$41.7K
IMOM icon
41
Alpha Architect International Quantitative Momentum ETF
IMOM
$144M
$8.1M 0.42%
238,401
-4,117
-2% -$125K
AMD icon
42
Advanced Micro Devices
AMD
$700B
$7.96M 0.42%
56,063
+367
+0.7% +$40K
DIS icon
43
Walt Disney
DIS
$171B
$7.86M 0.41%
63,411
+390
+0.6% +$40.5K
T icon
44
AT&T
T
$164B
$7.85M 0.41%
271,270
-33,646
-11% -$927K
QQQ icon
45
Invesco QQQ Trust
QQQ
$436B
$7.72M 0.4%
13,997
– –
INTU icon
46
Intuit
INTU
$91.1B
$7.64M 0.4%
9,699
+66
+0.7% +$44.7K
BKNG icon
47
Booking.com
BKNG
$156B
$7.44M 0.39%
32,125
+225
+0.7% +$46.1K
VZ icon
48
Verizon
VZ
$197B
$7.23M 0.38%
167,084
+22,542
+16% +$976K
MRK icon
49
Merck
MRK
$322B
$7.17M 0.38%
90,630
+2,552
+3% +$203K
RTX icon
50
RTX Corp
RTX
$290B
$7.15M 0.37%
48,960
+305
+0.6% +$40.6K
1
2
3 4 5

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AAP
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BCM
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GS
Gilead Sciences Foster City, California $2.12B AUM 143.53% 1-Year Est. Return
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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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.