Empire Life Investments Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Empire Life Investments Inc. reported 111 stock positions worth $1.6 billion. Its top holding was Microsoft (MSFT) at 7.6% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 5.5%) and Amazon.com (AMZN, 4.9%). Compared with Q1 2025, it opened 5 new positions, sold out of 4, added to 22 and reduced 76. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +16%) and the biggest sale an exit from Fiserv (FISV).

Most Recent 13F
Q2 2026
Location
Toronto, A6
CIK
0001640951
Portfolio Value
$1.6B (Q2 2025)
SEC Filing
0001213900-25-076053 ↗ filed Aug 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.6B Q1 2024 Q2 2024: $1.6B Q2 2024 Q3 2024: $1.6B Q3 2024 Q4 2024: $1.6B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.6B $1.6B Q2 2025 Q3 2025: $1.7B Q3 2025 Q4 2025: $1.8B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 111 stocks · $1.6B
MSFT Microsoft Corp. 7.58% 239,877 $119.3M Reduce -6.2%
VOO Vanguard S&P 500 ETF 5.46% 151,266 $85.9M Add +16.3%
AMZN Amazon.com Inc. 4.94% 354,843 $77.8M Reduce -3.3%
VST Vistra Corp. 3.04% 246,859 $47.8M Reduce -6.0%
GOOG Alphabet Inc. Class C 2.97% 263,907 $46.8M Reduce -11.0%
V Visa Inc. Class A 2.50% 111,064 $39.4M Reduce -4.7%
PNC PNC Financial Services Group 2.37% 199,772 $37.2M Reduce -8.3%
ELV Elevance Health Inc. 2.15% 87,078 $33.9M Reduce -8.3%
LRCX Lam Research Corp. 2.08% 336,138 $32.7M Add +19.1%
IEFA iShares Core MSCI Eafe ETF 1.94% 366,417 $30.6M Reduce -4.9%
AAPL Apple Inc. 1.88% 144,373 $29.6M Reduce -5.7%
META Meta Platforms Inc. Class A 1.87% 39,924 $29.5M Add +49.8%
NOC Northrop Grumman Corp. 1.84% 57,921 $29.0M Reduce -9.0%
NVDA Nvidia Corp. 1.70% 169,239 $26.7M Reduce -0.9%
MA Mastercard Inc. Class A 1.69% 47,396 $26.6M Reduce -9.0%
AME Ametek Inc. 1.68% 145,842 $26.4M Reduce -5.9%
JNJ Johnson & Johnson 1.68% 172,731 $26.4M Reduce -5.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.64% 544,230 $25.8M Reduce -8.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.61% 205,254 $25.3M Reduce -13.2%
TYL Tyler Technologies Inc. 1.55% 41,042 $24.3M Reduce -8.6%
AZO AutoZone Inc. 1.53% 6,472 $24.0M Add +9.0%
EOG EOG Resources Inc. 1.50% 197,628 $23.6M Reduce -10.3%
CME Cme Group Inc. 1.46% 83,507 $23.0M Add +1.3%
CVX Chevron Corp. 1.40% 153,940 $22.0M Reduce -9.0%
ROST Ross Stores Inc. 1.39% 171,476 $21.9M Reduce -7.7%
MSI Motorola Solutions Inc. 1.39% 51,897 $21.8M Reduce -6.5%
WEC WEC Energy Group Inc. 1.32% 198,773 $20.7M Add +0.0%
NEM Newmont Corp. 1.26% 339,221 $19.8M Reduce -58.6%
MO Altria Group Inc. 1.15% 309,228 $18.1M Reduce -8.0%
NOW ServiceNow Inc. 1.14% 17,462 $18.0M Add +37.8%
TDW Tidewater Inc. 1.11% 378,348 $17.5M Reduce -0.4%
COST Costco Wholesale Corp. 1.09% 17,401 $17.2M Reduce -5.2%
EVR Evercore Inc. Class A 1.08% 63,264 $17.1M Reduce -15.5%
AVGO Broadcom Inc. 1.07% 61,153 $16.9M Reduce -0.6%
FIS Fidelity National Info Serv 1.06% 205,421 $16.7M Reduce -3.0%
ZTS Zoetis Inc. 1.06% 106,870 $16.7M Reduce -7.5%
HUBS HubSpot Inc. 1.05% 29,612 $16.5M Add +31.5%
DLTR Dollar Tree Inc. 0.96% 152,853 $15.1M Add +77.8%
QQQM Invesco Nasdaq 100 ETF 0.95% 66,000 $15.0M Reduce -1.5%
AEE Ameren Corporation 0.94% 154,295 $14.8M Reduce -0.3%
EXAS Exact Sciences Corp. 0.91% 268,909 $14.3M Reduce -8.5%
BKNG Booking Holdings Inc. 0.89% 2,424 $14.0M Reduce -6.6%
WSC Willscot Holdings Corp. 0.89% 511,648 $14.0M Reduce -8.9%
CMCSA Comcast Corp. Class A 0.89% 390,457 $13.9M Reduce -10.8%
URTH iShares MSCI World ETF 0.83% 76,900 $13.0M Add +9.5%
MRK Merck & Co. Inc. 0.82% 162,547 $12.9M Reduce -10.4%
PM Philip Morris International 0.80% 69,215 $12.6M Reduce -9.6%
ROP Roper Technologies Inc. 0.80% 22,130 $12.5M Reduce -15.9%
MU Micron Technology Inc. 0.79% 101,467 $12.5M Reduce -8.4%
PEP Pepsico Inc. 0.78% 92,540 $12.2M Reduce -17.2%
TXN Texas Instruments Inc. 0.74% 56,275 $11.7M Reduce -3.8%
KEX Kirby Corp. 0.64% 88,799 $10.1M Reduce -9.8%
VLO Valero Energy Corp. 0.63% 73,903 $9.9M Reduce -11.1%
LEGN Legend Biotech Corp.-ADR 0.63% 277,927 $9.9M Add +67.8%
CTAS Cintas Corp. 0.63% 44,241 $9.9M Reduce -0.2%
T AT&T Inc. 0.62% 337,068 $9.8M Reduce -31.8%
HBAN Huntington Bancshares Inc. 0.58% 541,665 $9.1M Reduce -8.8%
BTU Peabody Energy Corp. 0.54% 636,113 $8.5M Reduce -6.4%
RRX Regal Rexnord Corp. 0.52% 56,506 $8.2M Reduce -9.7%
VZ Verizon Communications Inc. 0.50% 180,188 $7.8M Reduce -10.8%
STZ Constellation Brands Inc. Class A 0.49% 47,539 $7.7M Reduce -36.2%
IMTM iShares MSCI Intl Momentum F 0.45% 153,600 $7.0M Add +454.5%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.42% 203,731 $6.6M Add +20.1%
DXCM Dexcom Inc. 0.41% 74,830 $6.5M Reduce -9.0%
VONG Vanguard Russell 1000 Growth 0.39% 56,700 $6.2M Add +9.2%
RKLB Rocket Lab Corp. 0.39% 172,080 $6.2M New
KO The Coca-Cola Co. 0.38% 84,987 $6.0M Add +19.5%
JPEF JPMorgan Equity Focus ETF 0.38% 84,300 $5.9M Reduce -30.6%
PGR Progressive Corp. 0.37% 21,957 $5.9M Reduce -12.0%
IWY iShares Russell Top 200 Grow 0.33% 21,300 $5.3M Add +4.9%
SITE Siteone Landscape Supply Inc. 0.33% 42,846 $5.2M Reduce -7.1%
PVAL Putnam Focused LRG Cap Value 0.32% 126,625 $5.1M Reduce -38.3%
VEEV Veeva Systems Inc. Class A 0.32% 17,315 $5.0M Reduce -0.5%
DHI D.R. Horton Inc. 0.31% 37,993 $4.9M Reduce -10.3%
EFG iShares MSCI Eafe Growth ETF 0.27% 37,500 $4.2M Reduce -22.4%
EVI Evi Industries Inc. 0.23% 167,434 $3.7M Reduce -10.2%
TSLA Tesla Inc. 0.22% 11,079 $3.5M Reduce -10.1%
ARCT Arcturus Therapeutics Holdin 0.22% 264,012 $3.4M Reduce -0.3%
TCHP T Rowe Price Blue Chip Growt 0.20% 68,100 $3.1M New
JGRO JPMorgan Active Growth ETF 0.18% 33,000 $2.8M Reduce -30.7%
REGN Regeneron Pharmaceuticals 0.18% 5,314 $2.8M Reduce -17.3%
LIN Linde PLC 0.17% 5,853 $2.7M No change
UNH Unitedhealth Group Inc. 0.16% 8,099 $2.5M Reduce -34.3%
TOST Toast Inc. Class A 0.16% 55,254 $2.4M New
QCOM Qualcomm Inc. 0.15% 15,118 $2.4M Reduce -11.1%
ISRG Intuitive Surgical Inc. 0.15% 4,398 $2.4M No change
CDE Coeur Mining Inc. 0.15% 264,845 $2.3M Reduce -30.9%
MORN Morningstar Inc. 0.14% 6,934 $2.2M Reduce -1.8%
NFLX Netflix Inc. 0.13% 1,530 $2.0M No change
RJF Raymond James Financial Inc. 0.13% 13,114 $2.0M Reduce -1.8%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.12% 10,670 $1.9M Reduce -1.8%
ANSS Ansys Inc. 0.12% 5,218 $1.8M Reduce -1.8%
BURL Burlington Stores Inc. 0.11% 7,701 $1.8M Reduce -1.3%
SKX Skechers USA Inc. Class A 0.09% 23,183 $1.5M No change
CRWD CrowdStrike Holdings Inc. Class A 0.08% 2,568 $1.3M Add +4.2%
BLK BlackRock Inc. 0.08% 1,245 $1.3M Reduce -23.5%
FFOG Franklin Focused Dynamic Gro 0.08% 29,100 $1.3M Add +87.7%
EFX Equifax Inc. 0.08% 4,618 $1.2M Reduce -33.0%
CUBE Cubesmart 0.07% 27,538 $1.2M Reduce -1.8%
MTUM iShares MSCI USA Momentum Fa 0.07% 4,700 $1.1M New
QUAL iShares MSCI USA Quality Fac 0.07% 6,100 $1.1M Add +2.6%
VT Vanguard Tot World STK ETF 0.07% 8,573 $1.1M Add +34.2%
HD Home Depot Inc. 0.07% 2,899 $1.1M Add +35.1%
CHD Church & Dwight Co. Inc. 0.07% 10,879 $1.0M Reduce -1.8%
AMD Advanced Micro Devices 0.05% 5,501 $781K No change
FFLG Fidelity Fndmntl L/C GRW ETF 0.04% 26,600 $707K Add +9.5%
ORCL Oracle Corp. 0.04% 2,842 $621K New
USMV iShares MSCI USA Min Vol Fac 0.03% 5,800 $544K Reduce -82.1%
IEV iShares Europe ETF 0.01% 3,519 $223K No change
FITB Fifth Third Bancorp 0.01% 4,729 $195K No change
VLTO Veralto Corp. 0.00% 616 $62K No change

Portfolio Sells Q1 2025 → Q2 2025
FISV Fiserv Inc. Sold out 0.00% −1.53
NEM Newmont Corp. Reduce -58.6% 1.26% −1.32
ELV Elevance Health Inc. Reduce -8.3% 2.15% −0.54
BSY Bentley Systems Inc. Class B Sold out 0.00% −0.47
CVX Chevron Corp. Reduce -9.0% 1.40% −0.44
STZ Constellation Brands Inc. Class A Reduce -36.2% 0.49% −0.40
EOG EOG Resources Inc. Reduce -10.3% 1.50% −0.34
AAPL Apple Inc. Reduce -5.7% 1.88% −0.33
PEP Pepsico Inc. Reduce -17.2% 0.78% −0.32
JNJ Johnson & Johnson Reduce -5.8% 1.68% −0.30
T AT&T Inc. Reduce -31.8% 0.62% −0.29
NOC Northrop Grumman Corp. Reduce -9.0% 1.84% −0.28
TJX TJX Companies Inc. Reduce -13.2% 1.61% −0.26
UNH Unitedhealth Group Inc. Reduce -34.3% 0.16% −0.26
MRK Merck & Co. Inc. Reduce -10.4% 0.82% −0.24
ROP Roper Technologies Inc. Reduce -15.9% 0.80% −0.21
MSI Motorola Solutions Inc. Reduce -6.5% 1.39% −0.20
LVHI Franklin International Low V Sold out 0.00% −0.19
PVAL Putnam Focused LRG Cap Value Reduce -38.3% 0.32% −0.18
ZTS Zoetis Inc. Reduce -7.5% 1.06% −0.18
MA Mastercard Inc. Class A Reduce -9.0% 1.69% −0.17
CMCSA Comcast Corp. Class A Reduce -10.8% 0.89% −0.17
USMV iShares MSCI USA Min Vol Fac Reduce -82.1% 0.03% −0.16
MO Altria Group Inc. Reduce -8.0% 1.15% −0.16
ROST Ross Stores Inc. Reduce -7.7% 1.39% −0.16
V Visa Inc. Class A Reduce -4.7% 2.50% −0.15
TYL Tyler Technologies Inc. Reduce -8.6% 1.55% −0.15
JPEF JPMorgan Equity Focus ETF Reduce -30.6% 0.38% −0.13
PNC PNC Financial Services Group Reduce -8.3% 2.37% −0.13
WSC Willscot Holdings Corp. Reduce -8.9% 0.89% −0.13
VZ Verizon Communications Inc. Reduce -10.8% 0.50% −0.10
REGN Regeneron Pharmaceuticals Reduce -17.3% 0.18% −0.09
PGR Progressive Corp. Reduce -12.0% 0.37% −0.09
VLO Valero Energy Corp. Reduce -11.1% 0.63% −0.08
AEE Ameren Corporation Reduce -0.3% 0.94% −0.07
VONV Vanguard Russell 1000 Value Sold out 0.00% −0.07
AME Ametek Inc. Reduce -5.9% 1.68% −0.06
BTU Peabody Energy Corp. Reduce -6.4% 0.54% −0.06
JGRO JPMorgan Active Growth ETF Reduce -30.7% 0.18% −0.05
EFG iShares MSCI Eafe Growth ETF Reduce -22.4% 0.27% −0.05
GOOG Alphabet Inc. Class C Reduce -11.0% 2.97% −0.04
DHI D.R. Horton Inc. Reduce -10.3% 0.31% −0.04
COST Costco Wholesale Corp. Reduce -5.2% 1.09% −0.04
SITE Siteone Landscape Supply Inc. Reduce -7.1% 0.33% −0.04
EFX Equifax Inc. Reduce -33.0% 0.08% −0.03
BLK BlackRock Inc. Reduce -23.5% 0.08% −0.02
QCOM Qualcomm Inc. Reduce -11.1% 0.15% −0.02
CHD Church & Dwight Co. Inc. Reduce -1.8% 0.07% −0.01
KEX Kirby Corp. Reduce -9.8% 0.64% −0.01
BURL Burlington Stores Inc. Reduce -1.3% 0.11% −0.01

Portfolio Buys Q1 2025 → Q2 2025
VOO Vanguard S&P 500 ETF Add +16.3% 5.46% +1.11
META Meta Platforms Inc. Class A Add +49.8% 1.87% +0.87
LRCX Lam Research Corp. Add +19.1% 2.08% +0.74
DLTR Dollar Tree Inc. Add +77.8% 0.96% +0.54
NOW ServiceNow Inc. Add +37.8% 1.14% +0.48
RKLB Rocket Lab Corp. New 0.39% +0.39
IMTM iShares MSCI Intl Momentum F Add +454.5% 0.45% +0.37
LEGN Legend Biotech Corp.-ADR Add +67.8% 0.63% +0.26
HUBS HubSpot Inc. Add +31.5% 1.05% +0.21
TCHP T Rowe Price Blue Chip Growt New 0.20% +0.20
TOST Toast Inc. Class A New 0.16% +0.16
URTH iShares MSCI World ETF Add +9.5% 0.83% +0.13
VONG Vanguard Russell 1000 Growth Add +9.2% 0.39% +0.08
MTUM iShares MSCI USA Momentum Fa New 0.07% +0.07
VICI Vici Properties Inc. Add +20.1% 0.42% +0.06
IWY iShares Russell Top 200 Grow Add +4.9% 0.33% +0.05
AZO AutoZone Inc. Add +9.0% 1.53% +0.05
KO The Coca-Cola Co. Add +19.5% 0.38% +0.05
FFOG Franklin Focused Dynamic Gro Add +87.7% 0.08% +0.05
ORCL Oracle Corp. New 0.04% +0.04
CME Cme Group Inc. Add +1.3% 1.46% +0.04
CRWD CrowdStrike Holdings Inc. Class A Add +4.2% 0.08% +0.03
VT Vanguard Tot World STK ETF Add +34.2% 0.07% +0.02
HD Home Depot Inc. Add +35.1% 0.07% +0.02
FFLG Fidelity Fndmntl L/C GRW ETF Add +9.5% 0.04% +0.01
QUAL iShares MSCI USA Quality Fac Add +2.6% 0.07% +0.00
WEC WEC Energy Group Inc. Add +0.0% 1.32% −0.09

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 113$1.8BVOO, GOOG, LRCX, AMZN, MSFT
Q1 2026 110$1.6BVOO, GOOG, AMZN, MSFT, AAPL
Q4 2025 110$1.8BMSFT, VOO, GOOG, AMZN, AAPL
Q3 2025 107$1.7BMSFT, VOO, AMZN, GOOG, AAPL
Q2 2025 111$1.6BMSFT, VOO, AMZN, VST, GOOG
Q1 2025 110$1.5BMSFT, AMZN, VOO, GOOG, ELV
Q4 2024 103$1.6BMSFT, VOO, AMZN, GOOG, V
Q3 2024 96$1.6BMSFT, VOO, AMZN, ELV, V
Q2 2024 94$1.6BMSFT, VOO, AMZN, ELV, V
Q1 2024 94$1.6BMSFT, MRK, V, VOO, ELV