13F
中
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Empire Life Investments Inc.

13F equity value
$1.6B
Positions
110
Top 10 concentration
37.1%
Quarters / total new picks
30 / 141
13F equity value over time
$0M$888M$2B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 30 quarters, returned +2.8% per quarter — versus +3.7% per quarter from simply owning every 13F stock. It beat that baseline in only 56.7% of quarters (excess t = -1.31, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-5.0%
t-stat
-1.31
Quarterly win rate
57%
Annualized excess
-4.4%
$1 → follow vs universe
$1.97 vs $2.65
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720191231: universe 0.90920200331: universe 1.09620200630: universe 1.21120200930: universe 1.48520201231: universe 1.55320210331: universe 1.56620210630: universe 1.69220210930: universe 1.51920220331: universe 1.63020220930: universe 1.75120221231: universe 1.62720230331: universe 1.71420230630: universe 1.65220230930: universe 1.87620231231: universe 1.96020240331: universe 2.00420240630: universe 2.18620240930: universe 2.16720241231: universe 2.02220250331: universe 2.20520250630: universe 2.27420250930: universe 2.55720251231: universe 2.645 20180331: follow 1.02120180630: follow 0.96520180930: follow 1.07020181231: follow 1.15920190331: follow 1.20720190630: follow 1.30120190930: follow 1.60120191231: follow 1.33120200331: follow 1.65120200630: follow 1.65920200930: follow 1.88920201231: follow 2.06320210331: follow 2.11320210630: follow 2.19720210930: follow 2.44920220331: follow 2.63820220930: follow 2.62020221231: follow 2.27420230331: follow 2.20720230630: follow 2.29720230930: follow 2.49120231231: follow 2.52020240331: follow 2.09620240630: follow 1.77920240930: follow 1.84820241231: follow 1.83920250331: follow 2.18020250630: follow 1.89820250930: follow 1.87820251231: follow 1.968 0.84 1.85 2.86 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 110 · 2026 Q1

Ticker Value Weight QoQ
VOO $96M
5.8%
ADD
GOOG $82M
5.0%
TRIM
AMZN $72M
4.4%
TRIM
MSFT $71M
4.3%
TRIM
AAPL $63M
3.8%
ADD
LRCX $60M
3.6%
TRIM
NVDA $48M
2.9%
ADD
PNC $43M
2.6%
TRIM
VST $39M
2.4%
HOLD
JNJ $37M
2.3%
TRIM
IEFA $35M
2.1%
TRIM
EOG $33M
2.0%
ADD
NEM $33M
2.0%
ADD
AZO $32M
1.9%
ADD
AVGO $31M
1.9%
TRIM
TDW $30M
1.8%
TRIM
AME $30M
1.8%
TRIM
MU $30M
1.8%
TRIM
V $29M
1.8%
TRIM
ROST $27M
1.6%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ALNYFCXUSMVUUUUVLOVWOXOM

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.