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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
+11.75%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$1.43B
AUM Growth
+$72.6M
Cap. Flow
-$67.2M
Cap. Flow %
-4.68%
Top 10 Hldgs %
30.02%
Holding
534
New
24
Increased
339
Reduced
115
Closed
21

Top Buys

Rank Stock Value
1
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$1.66M
2
MSFT icon
Microsoft
MSFT
+$629K
3
VLTO icon
Veralto
VLTO
+$565K
4
PHM icon
Pultegroup
PHM
+$563K
5
DHI icon
D.R. Horton
DHI
+$536K

Top Sells

Rank Stock Value
1
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$26.9M
2
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.1M
3
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$8.98M
4
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$8.6M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.25M

Sector Composition

Rank Sector Weight
1 Technology 27.37%
2 Healthcare 12.03%
3 Financials 10.77%
4 Consumer Discretionary 10.06%
5 Communication Services 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UAL icon
276
United Airlines
UAL
$43.1B
$905K 0.06%
21,946
+11,102
+102% +$436K
FTV icon
277
Fortive
FTV
$18.5B
$896K 0.06%
16,146
+105
+0.7% +$5.54K
ULTA icon
278
Ulta Beauty
ULTA
$23.2B
$892K 0.06%
1,821
+6
+0.3% +$2.53K
DAL icon
279
Delta Air Lines
DAL
$61.3B
$889K 0.06%
22,109
+140
+0.6% +$5.08K
UTHR icon
280
United Therapeutics
UTHR
$22B
$883K 0.06%
4,017
– –
ZBH icon
281
Zimmer Biomet
ZBH
$19B
$883K 0.06%
7,256
+59
+0.8% +$6.58K
AR icon
282
Antero Resources
AR
$10.6B
$880K 0.06%
38,813
+18,369
+90% +$466K
WBD icon
283
Warner Bros
WBD
$65.1B
$877K 0.06%
77,038
+542
+0.7% +$5.85K
RMD icon
284
ResMed
RMD
$32.4B
$869K 0.06%
5,053
+39
+0.8% +$5.99K
AWK icon
285
American Water Works
AWK
$26.7B
$859K 0.06%
6,511
+53
+0.8% +$6.68K
APA icon
286
APA Corp
APA
$12.3B
$854K 0.06%
23,792
-835
-3% -$31.5K
MRNA icon
287
Moderna
MRNA
$22.5B
$853K 0.06%
8,576
+190
+2% +$16K
WST icon
288
West Pharmaceutical
WST
$24.7B
$851K 0.06%
2,417
+23
+1% +$8.14K
TROW icon
289
T. Rowe Price
TROW
$24.5B
$851K 0.06%
7,902
+47
+0.6% +$4.68K
TSCO icon
290
Tractor Supply
TSCO
$17.5B
$840K 0.06%
19,530
+90
+0.5% +$3.68K
FITB
291
Fifth Third Bancorp
FITB
$52.2B
$825K 0.06%
23,930
+121
+0.5% +$3.36K
HCC icon
292
Warrior Met Coal
HCC
$4.45B
$822K 0.06%
13,483
– –
BR icon
293
Broadridge
BR
$18.6B
$820K 0.06%
3,986
+39
+1% +$7.2K
GLW icon
294
Corning
GLW
$135B
$818K 0.06%
26,866
+173
+0.6% +$4.95K
XYL icon
295
Xylem
XYL
$28.5B
$813K 0.06%
7,110
+170
+2% +$17K
CHD icon
296
Church & Dwight Co
CHD
$24.6B
$804K 0.06%
8,504
+56
+0.7% +$5.13K
AAL icon
297
American Airlines Group
AAL
$11B
$794K 0.06%
57,776
+36,617
+173% +$460K
WAB icon
298
Wabtec
WAB
$50B
$792K 0.06%
6,239
+51
+0.8% +$5.76K
CNH
299
CNH Industrial
CNH
$17.4B
$787K 0.05%
64,620
+38,529
+148% +$430K
MOS icon
300
The Mosaic Company
MOS
$7.44B
$783K 0.05%
21,901
-482
-2% -$17K
10 11
12
13 14

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AAP
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BCM
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SC
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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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Empirical Finance's Q4 2023 Portfolio in Review

As of Q4 2023, Empirical Finance held 534 positions worth $1.43B, up 5.3% from $1.36B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Empirical Finance withdrew a net $67.2M in Q4 2023, closing 21 positions and reducing 115 holdings. Its most notable exit was iShares 0-3 Month Treasury Bond ETF, an estimated $26.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Empirical Finance opened a new position in Veralto worth $622K.

  • Empirical Finance's largest Q4 2023 buy was Veralto: 7,563 shares worth $622K.
  • Empirical Finance added most to Alpha Architect 1-3 Month Box ETF in Q4 2023, an estimated $1.66M increase.
  • Empirical Finance's biggest Q4 2023 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.1M.
  • Empirical Finance fully exited iShares 0-3 Month Treasury Bond ETF in Q4 2023, selling an estimated $26.9M.
  • Empirical Finance's ten largest holdings make up 30% of its $1.43B portfolio in Q4 2023.
  • Empirical Finance opened 24 new positions and closed 21 in Q4 2023.
  • Empirical Finance's portfolio value rose 5.3% quarter-over-quarter to $1.43B.

Based on Empirical Finance's 13F filing for Q4 2023, filed 14 Feb 2024.