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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
ET icon
51
Energy Transfer Partners
ET
$70.1B
$7.06M 0.37%
389,546
+149,101
+62% +$2.6M
KR icon
52
Kroger
KR
$35.4B
$6.95M 0.36%
96,881
+64,091
+195% +$4.43M
NOW icon
53
ServiceNow
NOW
$115B
$6.91M 0.36%
33,630
+255
+0.8% +$48.1K
CAT icon
54
Caterpillar
CAT
$375B
$6.91M 0.36%
17,807
+102
+0.6% +$34K
ISRG icon
55
Intuitive Surgical
ISRG
$127B
$6.63M 0.35%
12,199
+83
+0.7% +$43.4K
TXN icon
56
Texas Instruments
TXN
$252B
$6.57M 0.34%
31,646
+202
+0.6% +$35.9K
AXP icon
57
American Express
AXP
$227B
$6.55M 0.34%
20,522
+124
+0.6% +$34.9K
AAVM
58
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25.2M
$6.48M 0.34%
238,242
-5,049
-2% -$128K
MS icon
59
Morgan Stanley
MS
$331B
$6.36M 0.33%
45,122
+275
+0.6% +$33.8K
PEP icon
60
PepsiCo
PEP
$190B
$6.31M 0.33%
47,818
+305
+0.6% +$41.1K
ADBE icon
61
Adobe
ADBE
$99.5B
$6.14M 0.32%
15,883
+96
+0.6% +$37K
C icon
62
Citigroup
C
$222B
$5.76M 0.3%
67,682
+416
+0.6% +$30.1K
TMO icon
63
Thermo Fisher Scientific
TMO
$213B
$5.64M 0.3%
13,915
+489
+4% +$204K
CMCSA icon
64
Comcast
CMCSA
$85B
$5.64M 0.3%
158,071
-13,337
-8% -$461K
PTIN icon
65
Pacer Trendpilot International ETF
PTIN
$183M
$5.6M 0.29%
193,079
– –
SPGI icon
66
S&P Global
SPGI
$121B
$5.55M 0.29%
10,531
+73
+0.7% +$36.4K
PGR icon
67
Progressive
PGR
$123B
$5.41M 0.28%
20,290
+129
+0.6% +$35.4K
HON icon
68
Honeywell
HON
$77B
$5.4M 0.28%
24,602
+154
+0.6% +$31.2K
AMAT icon
69
Applied Materials
AMAT
$403B
$5.4M 0.28%
29,491
+175
+0.6% +$27.7K
BSX icon
70
Boston Scientific
BSX
$69.5B
$5.38M 0.28%
50,059
+338
+0.7% +$34.2K
BLK icon
71
Blackrock
BLK
$169B
$5.27M 0.28%
5,024
+35
+0.7% +$33.1K
AMGN icon
72
Amgen
AMGN
$208B
$5.27M 0.28%
18,879
+117
+0.6% +$33.1K
OMAB icon
73
Grupo Aeroportuario Centro Norte
OMAB
$5.16B
$5.27M 0.28%
49,941
+21,228
+74% +$1.99M
QCOM icon
74
Qualcomm
QCOM
$155B
$5.11M 0.27%
32,085
+1,748
+6% +$257K
TJX icon
75
TJX Companies
TJX
$174B
$4.96M 0.26%
40,138
+257
+0.6% +$32.6K
1 2
3
4 5

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BCM
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GS
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SC
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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.