Empower Advisory Group, LLC
"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.
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 11 quarters, returned +5.0% per quarter — versus +4.2% per quarter from simply owning every 13F stock. It beat that baseline in only 45.5% of quarters (excess t = 1.79, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 510 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| SCHF | $4.6B | | ADD |
| IWM | $2.1B | | HOLD |
| VWO | $1.9B | | ADD |
| BSV | $1.8B | | ADD |
| VNQ | $1.5B | | ADD |
| SCHP | $1.4B | | ADD |
| VGIT | $1.4B | | ADD |
| SCHA | $1.1B | | ADD |
| USIG | $1.0B | | ADD |
| VGLT | $860M | | ADD |
| VSS | $729M | | HOLD |
| VNQI | $648M | | ADD |
| PDBC | $598M | | ADD |
| EBND | $571M | | ADD |
| GLDM | $552M | | HOLD |
| AAPL | $534M | | HOLD |
| ESGD | $523M | | TRIM |
| SHYG | $512M | | ADD |
| NVDA | $504M | | HOLD |
| IAU | $476M | | TRIM |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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.