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ECM
Empirical Capital Management Portfolio holdings
AUM
$366M
1-Year Est. Return
40.78%
This Fund
S&P 500
This Quarter
Est. Return
-15.48%
1 Year Est. Return
+40.78%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$95.2M
AUM Growth
-$55.9M
(-37%)
Cap. Flow
-$34.6M
Cap. Flow
% of AUM
-36.31%
Top 10 Holdings %
Top 10 Hldgs %
79.53%
Holding
26
New
2
Increased
4
Reduced
8
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JWN
Nordstrom
JWN
|
+$5.74M |
| 2 |
FedEx
FDX
|
+$4.07M |
| 3 |
TUEM
Tuesday Morning Corp
TUEM
|
+$3.13M |
| 4 |
NEUE
NeueHealth
NEUE
|
+$2.97M |
| 5 |
The RealReal
REAL
|
+$370K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$14.8M |
| 2 |
TripAdvisor
TRIP
|
+$8.77M |
| 3 |
Pinterest
PINS
|
+$8.5M |
| 4 |
Roku
ROKU
|
+$6.52M |
| 5 |
WW
WW International
WW
|
+$3.09M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 28.19% |
| 2 | Communication Services | 22.59% |
| 3 | Consumer Discretionary | 21.86% |
| 4 | Industrials | 14.36% |
| 5 | Technology | 9.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Walmart Inc
WMT
$909B
| $14.6M | 15.38% |
315,000
| – | – |
|
|
JWN
2
DELISTED
Nordstrom
JWN
| $14.3M | 15.01% |
540,014
+180,000
| +50% | +$5.74M |
|
3
Marten Transport
MRTN
$1.22B
| $9.28M | 9.75% |
591,500
+5,000
| +0.9% | +$78.4K |
|
4
Molson Coors Class B
TAP
$8.02B
| $8.51M | 8.95% |
183,545
| – | – |
|
|
5
Pinterest
PINS
$13.7B
| $7.88M | 8.28% |
154,650
-138,351
| -47% | -$8.5M |
|
|
TWTR
6
DELISTED
Twitter, Inc.
TWTR
| $6.04M | 6.35% |
100,000
| – | – |
|
|
7
FedEx
FDX
$73B
| $4.39M | 4.61% |
20,000
+15,000
| +300% | +$4.07M |
|
|
TUEM
8
DELISTED
Tuesday Morning Corp
TUEM
| $3.68M | 3.87% |
43,849
+28,822
| +192% | +$3.13M |
|
9
PENN Entertainment
PENN
$2.84B
| $3.62M | 3.8% |
49,900
| – | – |
|
10
Roblox
RBLX
$35.9B
| $3.37M | 3.54% |
44,650
-17,350
| -28% | -$1.42M |
|
|
CHNG
11
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $2.71M | 2.84% |
129,160
| – | – |
|
12
Snap
SNAP
$7.96B
| $2.64M | 2.78% |
35,776
-31,000
| -46% | -$2.24M |
|
13
Comscore
SCOR
$113M
| $2.61M | 2.74% |
33,482
| – | – |
|
14
Palantir
PLTR
$295B
| $2.4M | 2.53% |
100,000
-11,002
| -10% | -$268K |
|
15
TJX Companies
TJX
$179B
| $2.24M | 2.36% |
34,000
| – | – |
|
|
NEUE
16
DELISTED
NeueHealth
NEUE
| $2.21M | 2.32% |
+3,380
| New | +$2.97M |
|
17
Sonos
SONO
$2.09B
| $1.62M | 1.7% |
50,000
-59,000
| -54% | -$2.13M |
|
|
18
Roku
ROKU
$21.6B
| $1.57M | 1.65% |
5,000
-17,300
| -78% | -$6.52M |
|
|
SCR
19
DELISTED
Score Media and Gaming Inc. Class A Subordinate Voting Shares
SCR
| $822K | 0.86% |
24,000
-28,000
| -54% | -$774K |
|
|
20
The RealReal
REAL
$1.41B
| $330K | 0.35% |
+25,000
| New | +$370K |
|
|
21
Amazon
AMZN
$2.44T
| $329K | 0.35% |
2,000
-86,000
| -98% | -$14.8M |
|
22
General Motors
GM
$80.9B
| – | – |
-6,800
| Closed | -$402K |
|
23
Boston Beer
SAM
$1.95B
| – | – |
-1,700
| Closed | -$1.74M |
|
|
24
TripAdvisor
TRIP
$1.7B
| – | – |
-217,500
| Closed | -$8.77M |
|
|
WW
25
DELISTED
WW International
WW
| – | – |
-85,532
| Closed | -$3.09M |
|
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Empirical Capital Management's Q3 2021 Portfolio in Review
As of Q3 2021, Empirical Capital Management held 26 positions worth $95.2M, down 37% from $151M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Empirical Capital Management withdrew a net $34.6M in Q3 2021, closing 5 positions and reducing 8 holdings. Its most notable exit was TripAdvisor, an estimated $8.77M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 19% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Empirical Capital Management opened a new position in NeueHealth worth $2.21M.
- Empirical Capital Management's largest Q3 2021 buy was NeueHealth: 3,380 shares worth $2.21M.
- Empirical Capital Management added most to Nordstrom in Q3 2021, an estimated $5.74M increase.
- Empirical Capital Management's biggest Q3 2021 reduction was Amazon, cutting an estimated $14.8M.
- Empirical Capital Management fully exited TripAdvisor in Q3 2021, selling an estimated $8.77M.
- Empirical Capital Management's ten largest holdings make up 80% of its $95.2M portfolio in Q3 2021.
- Empirical Capital Management opened 2 new positions and closed 5 in Q3 2021.
- Empirical Capital Management's portfolio value fell 37% quarter-over-quarter to $95.2M.
Based on Empirical Capital Management's 13F filing for Q3 2021, filed 16 Nov 2021.