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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
NVDA icon
1
NVIDIA
NVDA
$4.79T
$135M 7.05%
852,382
+16,110
+2% +$2.03M
MSFT icon
2
Microsoft
MSFT
$2.96T
$126M 6.59%
252,896
+2,457
+1% +$1.07M
AAPL icon
3
Apple
AAPL
$4.98T
$107M 5.61%
521,839
+8,599
+2% +$1.74M
AMZN icon
4
Amazon
AMZN
$2.5T
$73.1M 3.83%
333,086
+11,997
+4% +$2.37M
META icon
5
Meta Platforms (Facebook)
META
$1.51T
$57.1M 2.99%
77,335
+485
+0.6% +$300K
AVGO icon
6
Broadcom
AVGO
$1.81T
$40.8M 2.14%
148,179
+5,109
+4% +$1.11M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.1T
$36.4M 1.9%
206,390
+2,468
+1% +$404K
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.1T
$33.2M 1.74%
186,882
+5,117
+3% +$846K
JPM icon
9
JPMorgan Chase
JPM
$946B
$30.3M 1.59%
104,514
+3,615
+4% +$923K
TSLA icon
10
Tesla
TSLA
$1.21T
$26.2M 1.37%
82,363
+576
+0.7% +$174K
BRK.B icon
11
Berkshire Hathaway Class B
BRK.B
$1.1T
$24.9M 1.3%
51,203
+420
+0.8% +$213K
LLY icon
12
Eli Lilly
LLY
$1.09T
$21.6M 1.13%
27,659
+182
+0.7% +$141K
NFLX icon
13
Netflix
NFLX
$305B
$20.3M 1.06%
151,650
+980
+0.7% +$111K
QVAL icon
14
Alpha Architect US Quantitative Value ETF
QVAL
$589M
$19.1M 1%
435,049
-9,379
-2% -$398K
CAOS icon
15
Alpha Architect Tail Risk ETF
CAOS
$719M
$18.6M 0.97%
208,963
+159,506
+323% +$14.2M
XOM icon
16
ExxonMobil
XOM
$632B
$17M 0.89%
157,354
+924
+0.6% +$98.8K
VTI icon
17
Vanguard Total Stock Market ETF
VTI
$657B
$16.7M 0.88%
55,050
+2,664
+5% +$749K
MA icon
18
Mastercard
MA
$496B
$16.3M 0.86%
29,065
+181
+0.6% +$100K
V icon
19
Visa
V
$701B
$15.9M 0.83%
44,891
+401
+0.9% +$140K
COST icon
20
Costco
COST
$430B
$15.2M 0.8%
15,367
+97
+0.6% +$96.4K
WMT icon
21
Walmart Inc
WMT
$902B
$14.4M 0.75%
147,413
+960
+0.7% +$91.5K
PG icon
22
Procter & Gamble
PG
$351B
$13.2M 0.69%
82,601
+514
+0.6% +$83.9K
JNJ icon
23
Johnson & Johnson
JNJ
$644B
$13.1M 0.68%
85,653
+531
+0.6% +$81.6K
HD icon
24
Home Depot
HD
$343B
$12.9M 0.68%
35,182
+220
+0.6% +$79.6K
IVAL icon
25
Alpha Architect International Quantitative Value ETF
IVAL
$219M
$12.2M 0.64%
438,109
-463
-0.1% -$12.3K
1
2 3 4 5

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GHA
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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
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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.