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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
ORCL icon
26
Oracle
ORCL
$374B
$13.1M 0.62%
46,478
+508
+1% +$129K
BAC icon
27
Bank of America
BAC
$435B
$12.6M 0.6%
244,731
+2,212
+0.9% +$108K
CVX icon
28
Chevron
CVX
$392B
$12.3M 0.58%
79,092
+17,835
+29% +$2.76M
UNH icon
29
UnitedHealth
UNH
$376B
$12.1M 0.58%
35,092
+329
+0.9% +$99.5K
GE icon
30
GE Aerospace
GE
$374B
$11.5M 0.55%
38,195
+356
+0.9% +$97.3K
IVAL icon
31
Alpha Architect International Quantitative Value ETF
IVAL
$221M
$11.1M 0.53%
367,721
-70,388
-16% -$2.05M
WFC icon
32
Wells Fargo
WFC
$261B
$10.8M 0.51%
128,903
+997
+0.8% +$80.8K
TSM icon
33
TSMC
TSM
$2.1T
$10.4M 0.5%
37,272
+16,504
+79% +$4.04M
CSCO icon
34
Cisco
CSCO
$457B
$10.4M 0.49%
151,596
+8,833
+6% +$602K
MS icon
35
Morgan Stanley
MS
$331B
$9.89M 0.47%
62,219
+17,097
+38% +$2.52M
QMOM icon
36
Alpha Architect US Quantitative Momentum ETF
QMOM
$422M
$9.81M 0.47%
152,306
+206
+0.1% +$13.1K
CAT icon
37
Caterpillar
CAT
$375B
$9.5M 0.45%
19,919
+2,112
+12% +$902K
ET icon
38
Energy Transfer Partners
ET
$70.1B
$9.41M 0.45%
548,495
+158,949
+41% +$2.79M
GS icon
39
Goldman Sachs
GS
$300B
$9.2M 0.44%
11,558
+97
+0.8% +$71.9K
AMD icon
40
Advanced Micro Devices
AMD
$776B
$9.15M 0.44%
56,576
+513
+0.9% +$82.8K
KO icon
41
Coca-Cola
KO
$377B
$9.06M 0.43%
136,564
+1,342
+1% +$92.4K
IBM icon
42
IBM
IBM
$211B
$8.97M 0.43%
31,780
+319
+1% +$83.5K
PM icon
43
Philip Morris
PM
$297B
$8.82M 0.42%
54,404
+544
+1% +$91.5K
IMOM icon
44
Alpha Architect International Quantitative Momentum ETF
IMOM
$152M
$8.31M 0.4%
226,820
-11,581
-5% -$399K
RTX icon
45
RTX Corp
RTX
$290B
$8.27M 0.39%
49,398
+438
+0.9% +$68K
ABT icon
46
Abbott
ABT
$183B
$8.21M 0.39%
61,304
+608
+1% +$79.8K
T icon
47
AT&T
T
$159B
$8.21M 0.39%
290,650
+19,380
+7% +$550K
MRK icon
48
Merck
MRK
$322B
$8.14M 0.39%
96,986
+6,356
+7% +$524K
CRM icon
49
Salesforce
CRM
$151B
$8M 0.38%
33,744
+323
+1% +$81.5K
AAVM
50
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25.2M
$7.81M 0.37%
271,706
+33,464
+14% +$924K
1
2
3 4 5

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AAP
Aristotle Atlantic Partners Sarasota, Florida $2.14B AUM 37.01% 1-Year Est. Return
BCM
Basswood Capital Management New York $2.12B AUM 19.53% 1-Year Est. Return
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
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

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.