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EF

Empirical Finance Portfolio holdings

AUM $2.13B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
+9.59%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$966M
AUM Growth
+$123M
Cap. Flow
+$60.3M
Cap. Flow %
6.24%
Top 10 Hldgs %
26%
Holding
507
New
27
Increased
444
Reduced
17
Closed
14

Top Buys

Rank Stock Value
1
SHV icon
iShares 0-1 Year Treasury Bond ETF
SHV
+$6.37M
2
AAPL icon
Apple
AAPL
+$4.07M
3
MSFT icon
Microsoft
MSFT
+$3.76M
4
HIDE icon
Alpha Architect High Inflation and Deflation ETF
HIDE
+$3.62M
5
NTSX icon
WisdomTree US Efficient Core Fund
NTSX
+$2.13M

Top Sells

Rank Stock Value
1
VTIP icon
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
+$5.46M
2
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$2.06M
3
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$1.9M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.84M
5
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$1.2M

Sector Composition

Rank Sector Weight
1 Technology 19.81%
2 Healthcare 13.66%
3 Financials 11.12%
4 Consumer Discretionary 8.39%
5 Industrials 7.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DHI icon
251
D.R. Horton
DHI
$40.8B
$765K 0.08%
8,585
+659
+8% +$52.8K
PHM icon
252
Pultegroup
PHM
$24.6B
$763K 0.08%
16,764
+517
+3% +$21.8K
DFS
253
DELISTED
Discover Financial Services
DFS
$762K 0.08%
7,786
+519
+7% +$52.2K
KHC icon
254
Kraft Heinz
KHC
$29.7B
$759K 0.08%
18,642
+2,133
+13% +$81K
GPN icon
255
Global Payments
GPN
$23.5B
$759K 0.08%
7,640
+545
+8% +$56.8K
ES icon
256
Eversource Energy
ES
$27B
$757K 0.08%
9,032
+725
+9% +$57.5K
IT icon
257
Gartner
IT
$11.6B
$748K 0.08%
2,226
+156
+8% +$50.3K
MOS icon
258
The Mosaic Company
MOS
$7.48B
$747K 0.08%
17,026
+680
+4% +$33.7K
VRSK icon
259
Verisk Analytics
VRSK
$24.3B
$747K 0.08%
4,233
+317
+8% +$55.7K
STT icon
260
State Street
STT
$51.1B
$738K 0.08%
9,513
+804
+9% +$59.2K
CEG icon
261
Constellation Energy
CEG
$95B
$733K 0.08%
8,497
+694
+9% +$62.4K
AWK icon
262
American Water Works
AWK
$26.7B
$729K 0.08%
4,784
+368
+8% +$53.1K
ANET icon
263
Arista Networks
ANET
$243B
$715K 0.07%
23,564
+2,728
+13% +$84K
FAST icon
264
Fastenal
FAST
$58.1B
$715K 0.07%
30,208
+2,366
+8% +$57.9K
RSG icon
265
Republic Services
RSG
$64.1B
$714K 0.07%
5,537
+413
+8% +$55.1K
WBA
266
DELISTED
Walgreens Boots Alliance
WBA
$712K 0.07%
19,049
+1,482
+8% +$55.7K
MATX icon
267
Matsons
MATX
$6.17B
$706K 0.07%
11,295
+89
+0.8% +$5.88K
CLF icon
268
Cleveland-Cliffs
CLF
$7.1B
$706K 0.07%
43,815
+340
+0.8% +$5.12K
ZBH icon
269
Zimmer Biomet
ZBH
$18.7B
$700K 0.07%
5,488
+436
+9% +$50.6K
HIG icon
270
Hartford Financial Services
HIG
$39.5B
$686K 0.07%
9,044
+592
+7% +$42.6K
TSCO icon
271
Tractor Supply
TSCO
$17.8B
$680K 0.07%
15,105
+1,080
+8% +$45.9K
EBAY icon
272
eBay
EBAY
$48.1B
$679K 0.07%
16,366
+831
+5% +$34.4K
BAX icon
273
Baxter International
BAX
$14.1B
$678K 0.07%
13,305
+1,063
+9% +$57.1K
ULTA icon
274
Ulta Beauty
ULTA
$23.1B
$674K 0.07%
1,437
+108
+8% +$46.6K
URI icon
275
United Rentals
URI
$71.8B
$674K 0.07%
1,896
+136
+8% +$44.7K
9 10
11
12 13

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AAP
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BCM
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NAAA
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IVAV
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GA
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HJGA
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CF
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BWC
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Empirical Finance's Q4 2022 Portfolio in Review

As of Q4 2022, Empirical Finance held 507 positions worth $966M, up 15% from $843M the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Empirical Finance deployed $60.3M of net new capital in Q4 2022, opening 27 new positions and adding to 444 existing holdings. Its largest new stake was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, an estimated $2.06M trimmed.

  • Empirical Finance's largest Q4 2022 buy was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.
  • Empirical Finance added most to iShares 0-1 Year Treasury Bond ETF in Q4 2022, an estimated $6.37M increase.
  • Empirical Finance's biggest Q4 2022 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $2.06M.
  • Empirical Finance fully exited Vanguard Short-Term Inflation-Protected Securities Index Fund in Q4 2022, selling an estimated $5.46M.
  • Empirical Finance's ten largest holdings make up 26% of its $966M portfolio in Q4 2022.
  • Empirical Finance opened 27 new positions and closed 14 in Q4 2022.
  • Empirical Finance's portfolio value rose 15% quarter-over-quarter to $966M.

Based on Empirical Finance's 13F filing for Q4 2022, filed 24 Jan 2023.