Empire Life Investments Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Empire Life Investments Inc. reported 107 stock positions worth $1.7 billion. Its top holding was Microsoft (MSFT) at 7.3% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 5.3%) and Amazon.com (AMZN, 4.8%). Compared with Q2 2025, it opened 5 new positions, sold out of 9, added to 67 and reduced 30. The biggest buy was Apple (AAPL, shares +60%) and the biggest sale an exit from Newmont (NEM).

Most Recent 13F
Q2 2026
Location
Toronto, A6
CIK
0001640951
Portfolio Value
$1.7B (Q3 2025)
SEC Filing
0001213900-25-109136 ↗ filed Nov 12, 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 Q2 2025 Q3 2025: $1.7B $1.7B Q3 2025 Q4 2025: $1.8B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 107 stocks · $1.7B
MSFT Microsoft Corp. 7.26% 239,254 $123.9M Reduce -0.3%
VOO Vanguard S&P 500 ETF 5.31% 148,032 $90.7M Reduce -2.1%
AMZN Amazon.com Inc. 4.76% 370,044 $81.3M Add +4.3%
GOOG Alphabet Inc. Class C 3.79% 265,370 $64.6M Add +0.6%
AAPL Apple Inc. 3.43% 230,306 $58.6M Add +59.5%
NVDA Nvidia Corp. 2.49% 228,249 $42.6M Add +34.9%
VST Vistra Corp. 2.48% 216,009 $42.3M Reduce -12.5%
LRCX Lam Research Corp. 2.38% 303,507 $40.6M Reduce -9.7%
PNC PNC Financial Services Group 2.35% 199,701 $40.1M Reduce -0.0%
V Visa Inc. Class A 2.20% 110,137 $37.6M Reduce -0.8%
NOC Northrop Grumman Corp. 2.07% 57,975 $35.3M Add +0.1%
IEFA iShares Core MSCI Eafe ETF 2.02% 395,704 $34.5M Add +8.0%
JNJ Johnson & Johnson 1.90% 174,812 $32.4M Add +1.2%
META Meta Platforms Inc. Class A 1.73% 40,128 $29.5M Add +0.5%
AZO AutoZone Inc. 1.68% 6,687 $28.7M Add +3.3%
CVX Chevron Corp. 1.65% 181,221 $28.1M Add +17.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.64% 544,266 $28.1M Add +0.0%
MU Micron Technology Inc. 1.64% 167,259 $28.0M Add +64.8%
AME Ametek Inc. 1.61% 146,326 $27.5M Add +0.3%
ELV Elevance Health Inc. 1.61% 84,886 $27.4M Reduce -2.5%
MA Mastercard Inc. Class A 1.58% 47,339 $26.9M Reduce -0.1%
ROST Ross Stores Inc. 1.53% 171,326 $26.1M Reduce -0.1%
AVGO Broadcom Inc. 1.42% 73,555 $24.3M Add +20.3%
MSI Motorola Solutions Inc. 1.39% 52,058 $23.8M Add +0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.39% 163,830 $23.7M Reduce -20.2%
WEC WEC Energy Group Inc. 1.33% 198,926 $22.8M Add +0.1%
CME Cme Group Inc. 1.32% 83,397 $22.5M Reduce -0.1%
TYL Tyler Technologies Inc. 1.26% 41,243 $21.6M Add +0.5%
EVR Evercore Inc. Class A 1.25% 63,384 $21.4M Add +0.2%
TDW Tidewater Inc. 1.18% 379,186 $20.2M Add +0.2%
HUBS HubSpot Inc. 1.17% 42,572 $19.9M Add +43.8%
DLTR Dollar Tree Inc. 1.15% 208,150 $19.6M Add +36.2%
COST Costco Wholesale Corp. 1.14% 21,042 $19.5M Add +20.9%
EXAS Exact Sciences Corp. 1.12% 349,566 $19.1M Add +30.0%
EOG EOG Resources Inc. 1.09% 166,613 $18.7M Reduce -15.7%
NOW ServiceNow Inc. 0.97% 17,980 $16.5M Add +3.0%
ROP Roper Technologies Inc. 0.96% 32,872 $16.4M Add +48.5%
AEE Ameren Corporation 0.94% 154,427 $16.1M Add +0.1%
QQQM Invesco Nasdaq 100 ETF 0.94% 65,000 $16.1M Reduce -1.5%
MO Altria Group Inc. 0.93% 239,708 $15.8M Reduce -22.5%
ZTS Zoetis Inc. 0.92% 107,145 $15.7M Add +0.3%
PGR Progressive Corp. 0.90% 62,376 $15.4M Add +184.1%
TRU Transunion 0.88% 179,860 $15.1M New
URTH iShares MSCI World ETF 0.82% 77,450 $14.1M Add +0.7%
PM Philip Morris International 0.82% 86,015 $14.0M Add +24.3%
BKNG Booking Holdings Inc. 0.77% 2,437 $13.2M Add +0.5%
VLO Valero Energy Corp. 0.74% 73,992 $12.6M Add +0.1%
TXN Texas Instruments Inc. 0.73% 67,408 $12.4M Add +19.8%
CMCSA Comcast Corp. Class A 0.72% 391,254 $12.3M Add +0.2%
BTU Peabody Energy Corp. 0.70% 453,509 $12.0M Reduce -28.7%
KO The Coca-Cola Co. 0.69% 177,237 $11.8M Add +108.5%
WSC Willscot Holdings Corp. 0.63% 513,348 $10.8M Add +0.3%
LEGN Legend Biotech Corp.-ADR 0.62% 325,008 $10.6M Add +16.9%
T AT&T Inc. 0.56% 337,440 $9.5M Add +0.1%
HBAN Huntington Bancshares Inc. 0.55% 542,013 $9.4M Add +0.1%
VEEV Veeva Systems Inc. Class A 0.53% 30,601 $9.1M Add +76.7%
CTAS Cintas Corp. 0.53% 43,971 $9.0M Reduce -0.6%
RRX Regal Rexnord Corp. 0.48% 56,633 $8.1M Add +0.2%
VZ Verizon Communications Inc. 0.46% 180,557 $7.9M Add +0.2%
ARCT Arcturus Therapeutics Holdin 0.45% 417,563 $7.7M Add +58.2%
KEX Kirby Corp. 0.43% 88,985 $7.4M Add +0.2%
PEP Pepsico Inc. 0.39% 47,434 $6.7M Reduce -48.7%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.39% 202,748 $6.6M Reduce -0.5%
VONG Vanguard Russell 1000 Growth 0.36% 50,645 $6.1M Reduce -10.7%
IWY iShares Russell Top 200 Grow 0.35% 21,720 $5.9M Add +2.0%
MRK Merck & Co. Inc. 0.34% 70,137 $5.9M Reduce -56.9%
IMTM iShares MSCI Intl Momentum F 0.33% 117,900 $5.6M Reduce -23.2%
SITE Siteone Landscape Supply Inc. 0.33% 43,183 $5.6M Add +0.8%
EVI Evi Industries Inc. 0.31% 167,880 $5.3M Add +0.3%
JPEF JPMorgan Equity Focus ETF 0.30% 69,700 $5.2M Reduce -17.3%
DXCM Dexcom Inc. 0.30% 75,324 $5.1M Add +0.7%
TSLA Tesla Inc. 0.29% 11,211 $5.0M Add +1.2%
MELI MercadoLibre Inc. 0.29% 2,127 $5.0M New
EFG iShares MSCI Eafe Growth ETF 0.28% 42,300 $4.8M Add +12.8%
CDE Coeur Mining Inc. 0.26% 234,171 $4.4M Reduce -11.6%
RKLB Rocket Lab Corp. 0.24% 86,712 $4.2M Reduce -49.6%
PVAL Putnam Focused LRG Cap Value 0.24% 95,425 $4.1M Reduce -24.6%
UNH Unitedhealth Group Inc. 0.23% 11,582 $4.0M Add +43.0%
TCHP T Rowe Price Blue Chip Growt 0.21% 74,127 $3.6M Add +8.8%
SPRY Ars Pharmaceuticals Inc. 0.21% 355,686 $3.6M New
JGRO JPMorgan Active Growth ETF 0.19% 34,120 $3.2M Add +3.4%
DHI D.R. Horton Inc. 0.17% 17,554 $3.0M Reduce -53.8%
OCUL Ocular Therapeutix Inc. 0.17% 251,262 $2.9M New
LIN Linde PLC 0.17% 6,040 $2.9M Add +3.2%
QCOM Qualcomm Inc. 0.15% 15,133 $2.5M Add +0.1%
RJF Raymond James Financial Inc. 0.13% 13,317 $2.3M Add +1.6%
ISRG Intuitive Surgical Inc. 0.12% 4,522 $2.0M Add +2.8%
BURL Burlington Stores Inc. 0.12% 7,912 $2.0M Add +2.7%
MORN Morningstar Inc. 0.10% 7,043 $1.6M Add +1.6%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.09% 10,837 $1.6M Add +1.6%
FFOG Franklin Focused Dynamic Gro 0.08% 30,170 $1.4M Add +3.7%
VT Vanguard Tot World STK ETF 0.08% 10,303 $1.4M Add +20.2%
NFLX Netflix Inc. 0.07% 1,058 $1.3M Reduce -30.9%
QUAL iShares MSCI USA Quality Fac 0.07% 6,100 $1.2M No change
USMV iShares MSCI USA Min Vol Fac 0.07% 12,400 $1.2M Add +113.8%
HD Home Depot Inc. 0.07% 2,899 $1.2M No change
CUBE Cubesmart 0.07% 27,968 $1.1M Add +1.6%
BLK BlackRock Inc. 0.07% 968 $1.1M Reduce -22.3%
CHD Church & Dwight Co. Inc. 0.06% 11,047 $968K Add +1.5%
AMD Advanced Micro Devices 0.05% 5,605 $907K Add +1.9%
SNPS Synopsys Inc. 0.05% 1,799 $888K New
FFLG Fidelity Fndmntl L/C GRW ETF 0.05% 27,310 $805K Add +2.7%
ORCL Oracle Corp. 0.05% 2,842 $799K No change
MTUM iShares MSCI USA Momentum Fa 0.03% 2,300 $590K Reduce -51.1%
CRWD CrowdStrike Holdings Inc. Class A 0.03% 1,147 $562K Reduce -55.3%
IEV iShares Europe ETF 0.01% 3,519 $230K No change
FITB Fifth Third Bancorp 0.01% 4,729 $211K No change

Portfolio Sells Q2 2025 → Q3 2025
NEM Newmont Corp. Sold out 0.00% −1.26
FIS Fidelity National Info Serv Sold out 0.00% −1.06
VST Vistra Corp. Reduce -12.5% 2.48% −0.56
ELV Elevance Health Inc. Reduce -2.5% 1.61% −0.55
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.49
MRK Merck & Co. Inc. Reduce -56.9% 0.34% −0.47
EOG EOG Resources Inc. Reduce -15.7% 1.09% −0.41
PEP Pepsico Inc. Reduce -48.7% 0.39% −0.39
MSFT Microsoft Corp. Reduce -0.3% 7.26% −0.32
V Visa Inc. Class A Reduce -0.8% 2.20% −0.30
MO Altria Group Inc. Reduce -22.5% 0.93% −0.22
TJX TJX Companies Inc. Reduce -20.2% 1.39% −0.22
REGN Regeneron Pharmaceuticals Sold out 0.00% −0.18
TOST Toast Inc. Class A Sold out 0.00% −0.16
VOO Vanguard S&P 500 ETF Reduce -2.1% 5.31% −0.15
RKLB Rocket Lab Corp. Reduce -49.6% 0.24% −0.15
CME Cme Group Inc. Reduce -0.1% 1.32% −0.14
DHI D.R. Horton Inc. Reduce -53.8% 0.17% −0.14
ANSS Ansys Inc. Sold out 0.00% −0.12
IMTM iShares MSCI Intl Momentum F Reduce -23.2% 0.33% −0.12
MA Mastercard Inc. Class A Reduce -0.1% 1.58% −0.11
CTAS Cintas Corp. Reduce -0.6% 0.53% −0.10
SKX Skechers USA Inc. Class A Sold out 0.00% −0.09
PVAL Putnam Focused LRG Cap Value Reduce -24.6% 0.24% −0.09
EFX Equifax Inc. Sold out 0.00% −0.08
JPEF JPMorgan Equity Focus ETF Reduce -17.3% 0.30% −0.07
NFLX Netflix Inc. Reduce -30.9% 0.07% −0.06
CRWD CrowdStrike Holdings Inc. Class A Reduce -55.3% 0.03% −0.05
MTUM iShares MSCI USA Momentum Fa Reduce -51.1% 0.03% −0.04
VONG Vanguard Russell 1000 Growth Reduce -10.7% 0.36% −0.04
VICI Vici Properties Inc. Reduce -0.5% 0.39% −0.03
BLK BlackRock Inc. Reduce -22.3% 0.07% −0.02
PNC PNC Financial Services Group Reduce -0.0% 2.35% −0.02
QQQM Invesco Nasdaq 100 ETF Reduce -1.5% 0.94% −0.01
VLTO Veralto Corp. Sold out 0.00% −0.00
CDE Coeur Mining Inc. Reduce -11.6% 0.26% +0.11
ROST Ross Stores Inc. Reduce -0.1% 1.53% +0.14
BTU Peabody Energy Corp. Reduce -28.7% 0.70% +0.16
LRCX Lam Research Corp. Reduce -9.7% 2.38% +0.30

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +59.5% 3.43% +1.55
TRU Transunion New 0.88% +0.88
MU Micron Technology Inc. Add +64.8% 1.64% +0.84
GOOG Alphabet Inc. Class C Add +0.6% 3.79% +0.81
NVDA Nvidia Corp. Add +34.9% 2.49% +0.80
PGR Progressive Corp. Add +184.1% 0.90% +0.53
AVGO Broadcom Inc. Add +20.3% 1.42% +0.35
KO The Coca-Cola Co. Add +108.5% 0.69% +0.31
MELI MercadoLibre Inc. New 0.29% +0.29
CVX Chevron Corp. Add +17.7% 1.65% +0.25
ARCT Arcturus Therapeutics Holdin Add +58.2% 0.45% +0.23
NOC Northrop Grumman Corp. Add +0.1% 2.07% +0.23
JNJ Johnson & Johnson Add +1.2% 1.90% +0.22
VEEV Veeva Systems Inc. Class A Add +76.7% 0.53% +0.22
EXAS Exact Sciences Corp. Add +30.0% 1.12% +0.21
SPRY Ars Pharmaceuticals Inc. New 0.21% +0.21
DLTR Dollar Tree Inc. Add +36.2% 1.15% +0.19
OCUL Ocular Therapeutix Inc. New 0.17% +0.17
EVR Evercore Inc. Class A Add +0.2% 1.25% +0.17
ROP Roper Technologies Inc. Add +48.5% 0.96% +0.16
AZO AutoZone Inc. Add +3.3% 1.68% +0.15
HUBS HubSpot Inc. Add +43.8% 1.17% +0.12
VLO Valero Energy Corp. Add +0.1% 0.74% +0.11
IEFA iShares Core MSCI Eafe ETF Add +8.0% 2.02% +0.08
EVI Evi Industries Inc. Add +0.3% 0.31% +0.08
TDW Tidewater Inc. Add +0.2% 1.18% +0.08
UNH Unitedhealth Group Inc. Add +43.0% 0.23% +0.07
TSLA Tesla Inc. Add +1.2% 0.29% +0.07
SNPS Synopsys Inc. New 0.05% +0.05
COST Costco Wholesale Corp. Add +20.9% 1.14% +0.05
USMV iShares MSCI USA Min Vol Fac Add +113.8% 0.07% +0.03
WEC WEC Energy Group Inc. Add +0.1% 1.33% +0.02
PM Philip Morris International Add +24.3% 0.82% +0.02
EFG iShares MSCI Eafe Growth ETF Add +12.8% 0.28% +0.02
IWY iShares Russell Top 200 Grow Add +2.0% 0.35% +0.01
TCHP T Rowe Price Blue Chip Growt Add +8.8% 0.21% +0.01
VT Vanguard Tot World STK ETF Add +20.2% 0.08% +0.01
BAC Bank of America Corp. Add +0.0% 1.64% +0.01
MSI Motorola Solutions Inc. Add +0.3% 1.39% +0.01
RJF Raymond James Financial Inc. Add +1.6% 0.13% +0.01
JGRO JPMorgan Active Growth ETF Add +3.4% 0.19% +0.01
BURL Burlington Stores Inc. Add +2.7% 0.12% +0.00
AMD Advanced Micro Devices Add +1.9% 0.05% +0.00
AEE Ameren Corporation Add +0.1% 0.94% +0.00
FFOG Franklin Focused Dynamic Gro Add +3.7% 0.08% +0.00
FFLG Fidelity Fndmntl L/C GRW ETF Add +2.7% 0.05% +0.00
SITE Siteone Landscape Supply Inc. Add +0.8% 0.33% −0.00
URTH iShares MSCI World ETF Add +0.7% 0.82% −0.00
QCOM Qualcomm Inc. Add +0.1% 0.15% −0.01
LEGN Legend Biotech Corp.-ADR Add +16.9% 0.62% −0.01

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