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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
VRTX icon
101
Vertex Pharmaceuticals
VRTX
$121B
$4.01M 0.21%
9,006
+60
+0.7% +$27.6K
VXUS icon
102
Vanguard Total International Stock ETF
VXUS
$155B
$3.94M 0.21%
57,025
+5,362
+10% +$348K
MRSH
103
Marsh
MRSH
$90.5B
$3.77M 0.2%
17,245
+111
+0.6% +$25.1K
CVS icon
104
CVS Health
CVS
$133B
$3.71M 0.19%
53,729
+295
+0.6% +$19.3K
ELV icon
105
Elevance Health
ELV
$81.5B
$3.7M 0.19%
9,509
-929
-9% -$374K
SBUX icon
106
Starbucks
SBUX
$120B
$3.66M 0.19%
39,994
+252
+0.6% +$21.8K
MO icon
107
Altria Group
MO
$114B
$3.65M 0.19%
62,180
-4,697
-7% -$276K
LMT icon
108
Lockheed Martin
LMT
$134B
$3.64M 0.19%
7,855
+49
+0.6% +$22.9K
PAC icon
109
Grupo Aeroportuario del Pacifico
PAC
$12.9B
$3.59M 0.19%
+15,648
New +$3.34M
CEG icon
110
Constellation Energy
CEG
$93.8B
$3.59M 0.19%
11,125
+73
+0.7% +$19.3K
FISV
111
Fiserv Inc
FISV
$28.8B
$3.59M 0.19%
20,814
+130
+0.6% +$23.6K
MCK icon
112
McKesson
MCK
$100B
$3.53M 0.18%
4,818
+28
+0.6% +$19.8K
ANET icon
113
Arista Networks
ANET
$227B
$3.5M 0.18%
34,188
+1,442
+4% +$125K
SO icon
114
Southern Company
SO
$109B
$3.47M 0.18%
37,775
+246
+0.7% +$22.1K
CME icon
115
CME Group
CME
$96.3B
$3.46M 0.18%
12,539
+85
+0.7% +$23.1K
BMY icon
116
Bristol-Myers Squibb
BMY
$133B
$3.38M 0.18%
73,052
+440
+0.6% +$21.6K
PTNQ icon
117
Pacer Trendpilot 100 ETF
PTNQ
$1.2B
$3.38M 0.18%
47,352
– –
INTC icon
118
Intel
INTC
$455B
$3.28M 0.17%
146,516
+959
+0.7% +$19.9K
PDLB icon
119
Ponce Financial Group
PDLB
$488M
$3.25M 0.17%
+234,649
New +$3.02M
GM icon
120
General Motors
GM
$80.4B
$3.22M 0.17%
65,514
+20,993
+47% +$995K
MDLZ icon
121
Mondelez International
MDLZ
$79.5B
$3.21M 0.17%
47,576
+257
+0.5% +$17.1K
AZO icon
122
AutoZone
AZO
$49.2B
$3.17M 0.17%
853
+203
+31% +$748K
DUK icon
123
Duke Energy
DUK
$97.8B
$3.16M 0.17%
26,778
+178
+0.7% +$21K
PH icon
124
Parker-Hannifin
PH
$123B
$3.13M 0.16%
4,484
+32
+0.7% +$20.2K
MPLX icon
125
MPLX
MPLX
$59.3B
$3.11M 0.16%
+60,467
New +$3.07M
3 4
5
6 7

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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.