Empire Life Investments Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Empire Life Investments Inc. reported 110 stock positions worth $1.8 billion. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 5.4%) and Alphabet Class C (GOOG, 5.3%). Compared with Q3 2025, it opened 11 new positions, sold out of 8, added to 48 and reduced 48. The biggest buy was Alphabet Class C (GOOG, shares +13%) and the biggest sale Microsoft (MSFT, shares −13%).

Most Recent 13F
Q2 2026
Location
Toronto, A6
CIK
0001640951
Portfolio Value
$1.8B (Q4 2025)
SEC Filing
0001213900-26-012076 ↗ filed Feb 4, 2026

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 Q3 2025 Q4 2025: $1.8B $1.8B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 110 stocks · $1.8B
MSFT Microsoft Corp. 5.69% 208,821 $101.0M Reduce -12.7%
VOO Vanguard S&P 500 ETF 5.44% 154,049 $96.6M Add +4.1%
GOOG Alphabet Inc. Class C 5.28% 298,789 $93.8M Add +12.6%
AMZN Amazon.com Inc. 4.64% 356,960 $82.4M Reduce -3.5%
AAPL Apple Inc. 3.46% 225,865 $61.4M Reduce -1.9%
LRCX Lam Research Corp. 3.08% 319,892 $54.8M Add +5.4%
NVDA Nvidia Corp. 2.61% 248,550 $46.4M Add +8.9%
PNC PNC Financial Services Group 2.55% 217,119 $45.3M Add +8.7%
MU Micron Technology Inc. 2.54% 157,871 $45.1M Reduce -5.6%
VST Vistra Corp. 2.29% 252,338 $40.7M Add +16.8%
IEFA iShares Core MSCI Eafe ETF 2.17% 431,381 $38.6M Add +9.0%
V Visa Inc. Class A 2.10% 106,452 $37.3M Reduce -3.4%
AVGO Broadcom Inc. 1.95% 99,978 $34.6M Add +35.9%
JNJ Johnson & Johnson 1.86% 159,232 $33.0M Reduce -8.9%
NOC Northrop Grumman Corp. 1.75% 54,331 $31.0M Reduce -6.3%
ROST Ross Stores Inc. 1.74% 171,087 $30.8M Reduce -0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.69% 544,500 $29.9M Add +0.0%
AME Ametek Inc. 1.68% 145,139 $29.8M Reduce -0.8%
ELV Elevance Health Inc. 1.67% 84,807 $29.7M Reduce -0.1%
AZO AutoZone Inc. 1.63% 8,545 $29.0M Add +27.8%
MA Mastercard Inc. Class A 1.50% 46,743 $26.7M Reduce -1.3%
META Meta Platforms Inc. Class A 1.47% 39,538 $26.1M Reduce -1.5%
BKNG Booking Holdings Inc. 1.45% 4,800 $25.7M Add +97.0%
ACN Accenture PLC Class A 1.40% 92,761 $24.9M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.40% 161,728 $24.8M Reduce -1.3%
CME Cme Group Inc. 1.28% 83,199 $22.7M Reduce -0.2%
CVX Chevron Corp. 1.22% 141,675 $21.6M Reduce -21.8%
WEC WEC Energy Group Inc. 1.18% 198,977 $21.0M Add +0.0%
ROP Roper Technologies Inc. 1.14% 45,517 $20.3M Add +38.5%
KO The Coca-Cola Co. 1.10% 279,447 $19.5M Add +57.7%
TDW Tidewater Inc. 1.08% 380,175 $19.2M Add +0.3%
EXAS Exact Sciences Corp. 1.07% 187,740 $19.1M Reduce -46.3%
HUBS HubSpot Inc. 1.06% 47,074 $18.9M Add +10.6%
TYL Tyler Technologies Inc. 1.05% 41,015 $18.6M Reduce -0.6%
DLTR Dollar Tree Inc. 1.04% 149,493 $18.4M Reduce -28.2%
COST Costco Wholesale Corp. 1.02% 21,023 $18.1M Reduce -0.1%
PGR Progressive Corp. 1.01% 78,801 $17.9M Add +26.3%
EVR Evercore Inc. Class A 1.00% 52,341 $17.8M Reduce -17.4%
EOG EOG Resources Inc. 0.99% 166,990 $17.5M Add +0.2%
QQQM Invesco Nasdaq 100 ETF 0.91% 64,000 $16.2M Reduce -1.5%
MSI Motorola Solutions Inc. 0.89% 41,118 $15.8M Reduce -21.0%
AEE Ameren Corporation 0.87% 154,518 $15.4M Add +0.1%
URTH iShares MSCI World ETF 0.87% 82,743 $15.4M Add +6.8%
PM Philip Morris International 0.86% 94,873 $15.2M Add +10.3%
T AT&T Inc. 0.77% 550,988 $13.7M Add +63.3%
NOW ServiceNow Inc. 0.77% 88,675 $13.6M Reduce -1.4%
BTU Peabody Energy Corp. 0.76% 454,748 $13.5M Add +0.3%
ZTS Zoetis Inc. 0.75% 106,221 $13.4M Reduce -0.9%
NEM Newmont Corp. 0.67% 118,216 $11.8M New
TXN Texas Instruments Inc. 0.66% 67,379 $11.7M Reduce -0.0%
MO Altria Group Inc. 0.60% 185,691 $10.7M Reduce -22.5%
TRU Transunion 0.59% 122,101 $10.5M Reduce -32.1%
KEX Kirby Corp. 0.55% 89,222 $9.8M Add +0.3%
HBAN Huntington Bancshares Inc. 0.53% 542,036 $9.4M Add +0.0%
WSC Willscot Holdings Corp. 0.47% 447,503 $8.4M Reduce -12.8%
VEEV Veeva Systems Inc. Class A 0.47% 37,054 $8.3M Add +21.1%
CTAS Cintas Corp. 0.46% 43,447 $8.2M Reduce -1.2%
RRX Regal Rexnord Corp. 0.45% 56,778 $8.0M Add +0.3%
SPHR Sphere Entertainment Co. 0.44% 81,267 $7.7M New
RKLB Rocket Lab Corp. 0.41% 103,676 $7.2M Add +19.6%
LEGN Legend Biotech Corp.-ADR 0.40% 322,936 $7.0M Reduce -0.6%
IWY iShares Russell Top 200 Grow 0.37% 23,920 $6.6M Add +10.1%
OCUL Ocular Therapeutix Inc. 0.37% 540,115 $6.6M Add +115.0%
VONG Vanguard Russell 1000 Growth 0.32% 47,230 $5.8M Reduce -6.7%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.32% 200,845 $5.6M Reduce -0.9%
FRMI Fermi Inc. 0.32% 701,422 $5.6M New
PVAL Putnam Focused LRG Cap Value 0.30% 118,301 $5.4M Add +24.0%
SITE Siteone Landscape Supply Inc. 0.29% 41,921 $5.2M Reduce -2.9%
EQT Eqt Corp. 0.29% 94,848 $5.1M New
DXCM Dexcom Inc. 0.28% 74,397 $4.9M Reduce -1.2%
CRH CRH PLC 0.28% 39,554 $4.9M New
TSLA Tesla Inc. 0.27% 10,789 $4.9M Reduce -3.8%
QQQ Invesco QQQ Trust Series 1 0.27% 7,700 $4.7M New
EVI Evi Industries Inc. 0.23% 168,427 $4.2M Add +0.3%
SPRY Ars Pharmaceuticals Inc. 0.23% 352,602 $4.1M Reduce -0.9%
CRWD CrowdStrike Holdings Inc. Class A 0.20% 7,645 $3.6M Add +566.5%
IMTM iShares MSCI Intl Momentum F 0.19% 70,900 $3.4M Reduce -39.9%
TCHP T Rowe Price Blue Chip Growt 0.19% 68,027 $3.4M Reduce -8.2%
EFG iShares MSCI Eafe Growth ETF 0.19% 29,800 $3.4M Reduce -29.6%
JGRO JPMorgan Active Growth ETF 0.19% 36,420 $3.4M Add +6.7%
JPEF JPMorgan Equity Focus ETF 0.19% 44,279 $3.3M Reduce -36.5%
MELI MercadoLibre Inc. 0.18% 1,624 $3.3M Reduce -23.6%
VT Vanguard Tot World STK ETF 0.16% 19,774 $2.8M Add +91.9%
QCOM Qualcomm Inc. 0.15% 15,173 $2.6M Add +0.3%
ARCT Arcturus Therapeutics Holdin 0.14% 412,402 $2.5M Reduce -1.2%
LIN Linde PLC 0.14% 5,711 $2.4M Reduce -5.5%
ISRG Intuitive Surgical Inc. 0.13% 4,219 $2.4M Reduce -6.7%
BURL Burlington Stores Inc. 0.13% 7,999 $2.3M Add +1.1%
RJF Raymond James Financial Inc. 0.12% 13,352 $2.1M Add +0.3%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.11% 10,864 $2.0M Add +0.3%
FFOG Franklin Focused Dynamic Gro 0.11% 39,870 $1.9M Add +32.1%
MORN Morningstar Inc. 0.09% 7,061 $1.5M Add +0.3%
QUAL iShares MSCI USA Quality Fac 0.07% 6,150 $1.2M Add +0.8%
FFLG Fidelity Fndmntl L/C GRW ETF 0.07% 39,910 $1.2M Add +46.1%
AMD Advanced Micro Devices 0.06% 5,050 $1.1M Reduce -9.9%
BLK BlackRock Inc. 0.06% 968 $1.0M No change
CDE Coeur Mining Inc. 0.06% 57,683 $1.0M Reduce -75.4%
CUBE Cubesmart 0.06% 28,038 $1.0M Add +0.3%
HD Home Depot Inc. 0.06% 2,899 $998K No change
CHD Church & Dwight Co. Inc. 0.05% 11,075 $929K Add +0.3%
NFLX Netflix Inc. 0.05% 9,602 $900K Reduce -9.2%
SNPS Synopsys Inc. 0.05% 1,804 $847K Add +0.3%
DUOL Duolingo 0.05% 4,697 $824K New
AQLT iShares MSCI GL Qua Fact ETF 0.04% 23,150 $651K New
ITMSF Intermap Technologies Corp. 0.04% 475,087 $635K New
MTUM iShares MSCI USA Momentum Fa 0.03% 2,400 $601K Add +4.3%
ORCL Oracle Corp. 0.03% 2,365 $461K Reduce -16.8%
IEV iShares Europe ETF 0.02% 5,148 $353K Add +46.3%
LNG Cheniere Energy Inc. 0.02% 1,466 $285K New
FITB Fifth Third Bancorp 0.01% 4,729 $221K No change

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -12.7% 5.69% −1.57
VLO Valero Energy Corp. Sold out 0.00% −0.74
CMCSA Comcast Corp. Class A Sold out 0.00% −0.72
MSI Motorola Solutions Inc. Reduce -21.0% 0.89% −0.51
VZ Verizon Communications Inc. Sold out 0.00% −0.46
CVX Chevron Corp. Reduce -21.8% 1.22% −0.43
PEP Pepsico Inc. Sold out 0.00% −0.39
MRK Merck & Co. Inc. Sold out 0.00% −0.34
MO Altria Group Inc. Reduce -22.5% 0.60% −0.32
NOC Northrop Grumman Corp. Reduce -6.3% 1.75% −0.32
ARCT Arcturus Therapeutics Holdin Reduce -1.2% 0.14% −0.31
TRU Transunion Reduce -32.1% 0.59% −0.29
META Meta Platforms Inc. Class A Reduce -1.5% 1.47% −0.26
EVR Evercore Inc. Class A Reduce -17.4% 1.00% −0.25
UNH Unitedhealth Group Inc. Sold out 0.00% −0.23
LEGN Legend Biotech Corp.-ADR Reduce -0.6% 0.40% −0.23
TYL Tyler Technologies Inc. Reduce -0.6% 1.05% −0.21
NOW ServiceNow Inc. Reduce -1.4% 0.77% −0.20
CDE Coeur Mining Inc. Reduce -75.4% 0.06% −0.20
DHI D.R. Horton Inc. Sold out 0.00% −0.17
ZTS Zoetis Inc. Reduce -0.9% 0.75% −0.17
WSC Willscot Holdings Corp. Reduce -12.8% 0.47% −0.16
IMTM iShares MSCI Intl Momentum F Reduce -39.9% 0.19% −0.14
COST Costco Wholesale Corp. Reduce -0.1% 1.02% −0.12
AMZN Amazon.com Inc. Reduce -3.5% 4.64% −0.12
JPEF JPMorgan Equity Focus ETF Reduce -36.5% 0.19% −0.12
DLTR Dollar Tree Inc. Reduce -28.2% 1.04% −0.11
MELI MercadoLibre Inc. Reduce -23.6% 0.18% −0.11
V Visa Inc. Class A Reduce -3.4% 2.10% −0.10
EFG iShares MSCI Eafe Growth ETF Reduce -29.6% 0.19% −0.09
MA Mastercard Inc. Class A Reduce -1.3% 1.50% −0.07
USMV iShares MSCI USA Min Vol Fac Sold out 0.00% −0.07
VICI Vici Properties Inc. Reduce -0.9% 0.32% −0.07
CTAS Cintas Corp. Reduce -1.2% 0.46% −0.07
TXN Texas Instruments Inc. Reduce -0.0% 0.66% −0.07
EXAS Exact Sciences Corp. Reduce -46.3% 1.07% −0.05
JNJ Johnson & Johnson Reduce -8.9% 1.86% −0.04
CME Cme Group Inc. Reduce -0.2% 1.28% −0.04
VONG Vanguard Russell 1000 Growth Reduce -6.7% 0.32% −0.03
SITE Siteone Landscape Supply Inc. Reduce -2.9% 0.29% −0.03
LIN Linde PLC Reduce -5.5% 0.14% −0.03
QQQM Invesco Nasdaq 100 ETF Reduce -1.5% 0.91% −0.03
NFLX Netflix Inc. Reduce -9.2% 0.05% −0.02
ORCL Oracle Corp. Reduce -16.8% 0.03% −0.02
TCHP T Rowe Price Blue Chip Growt Reduce -8.2% 0.19% −0.02
DXCM Dexcom Inc. Reduce -1.2% 0.28% −0.02
TSLA Tesla Inc. Reduce -3.8% 0.27% −0.02
AMD Advanced Micro Devices Reduce -9.9% 0.06% +0.01
TJX TJX Companies Inc. Reduce -1.3% 1.40% +0.01
ISRG Intuitive Surgical Inc. Reduce -6.7% 0.13% +0.02

Portfolio Buys Q3 2025 → Q4 2025
GOOG Alphabet Inc. Class C Add +12.6% 5.28% +1.50
ACN Accenture PLC Class A New 1.40% +1.40
LRCX Lam Research Corp. Add +5.4% 3.08% +0.70
BKNG Booking Holdings Inc. Add +97.0% 1.45% +0.68
NEM Newmont Corp. New 0.67% +0.67
AVGO Broadcom Inc. Add +35.9% 1.95% +0.53
SPHR Sphere Entertainment Co. New 0.44% +0.44
KO The Coca-Cola Co. Add +57.7% 1.10% +0.41
FRMI Fermi Inc. New 0.32% +0.32
EQT Eqt Corp. New 0.29% +0.29
CRH CRH PLC New 0.28% +0.28
QQQ Invesco QQQ Trust Series 1 New 0.27% +0.27
T AT&T Inc. Add +63.3% 0.77% +0.21
PNC PNC Financial Services Group Add +8.7% 2.55% +0.20
OCUL Ocular Therapeutix Inc. Add +115.0% 0.37% +0.20
ROP Roper Technologies Inc. Add +38.5% 1.14% +0.18
CRWD CrowdStrike Holdings Inc. Class A Add +566.5% 0.20% +0.17
RKLB Rocket Lab Corp. Add +19.6% 0.41% +0.16
IEFA iShares Core MSCI Eafe ETF Add +9.0% 2.17% +0.15
VOO Vanguard S&P 500 ETF Add +4.1% 5.44% +0.13
KEX Kirby Corp. Add +0.3% 0.55% +0.12
NVDA Nvidia Corp. Add +8.9% 2.61% +0.12
PGR Progressive Corp. Add +26.3% 1.01% +0.11
VT Vanguard Tot World STK ETF Add +91.9% 0.16% +0.07
PVAL Putnam Focused LRG Cap Value Add +24.0% 0.30% +0.07
BTU Peabody Energy Corp. Add +0.3% 0.76% +0.06
DUOL Duolingo New 0.05% +0.05
BAC Bank of America Corp. Add +0.0% 1.69% +0.04
URTH iShares MSCI World ETF Add +6.8% 0.87% +0.04
PM Philip Morris International Add +10.3% 0.86% +0.04
AQLT iShares MSCI GL Qua Fact ETF New 0.04% +0.04
ITMSF Intermap Technologies Corp. New 0.04% +0.04
IWY iShares Russell Top 200 Grow Add +10.1% 0.37% +0.03
FFOG Franklin Focused Dynamic Gro Add +32.1% 0.11% +0.02
FFLG Fidelity Fndmntl L/C GRW ETF Add +46.1% 0.07% +0.02
JKHY Jack Henry & Associates Inc. Add +0.3% 0.11% +0.02
LNG Cheniere Energy Inc. New 0.02% +0.02
BURL Burlington Stores Inc. Add +1.1% 0.13% +0.01
IEV iShares Europe ETF Add +46.3% 0.02% +0.01
JGRO JPMorgan Active Growth ETF Add +6.7% 0.19% +0.00
QUAL iShares MSCI USA Quality Fac Add +0.8% 0.07% −0.00
MTUM iShares MSCI USA Momentum Fa Add +4.3% 0.03% −0.00
QCOM Qualcomm Inc. Add +0.3% 0.15% −0.00
SNPS Synopsys Inc. Add +0.3% 0.05% −0.00
CHD Church & Dwight Co. Inc. Add +0.3% 0.05% −0.00
MORN Morningstar Inc. Add +0.3% 0.09% −0.01
CUBE Cubesmart Add +0.3% 0.06% −0.01
RJF Raymond James Financial Inc. Add +0.3% 0.12% −0.01
HBAN Huntington Bancshares Inc. Add +0.0% 0.53% −0.02
RRX Regal Rexnord Corp. Add +0.3% 0.45% −0.03

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