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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
STZ icon
351
Constellation Brands
STZ
$22.6B
$634K 0.04%
2,621
-4
-0.2% -$951
HOLX
352
DELISTED
Hologic
HOLX
$630K 0.04%
8,820
+53
+0.6% +$3.69K
OMC icon
353
Omnicom Group
OMC
$22.6B
$625K 0.04%
7,222
+21
+0.3% +$1.66K
VLTO icon
354
Veralto
VLTO
$23.9B
$622K 0.04%
+7,563
New +$565K
IFF icon
355
International Flavors & Fragrances
IFF
$21.6B
$617K 0.04%
7,618
+108
+1% +$7.81K
CLX icon
356
Clorox
CLX
$12.8B
$614K 0.04%
4,305
+30
+0.7% +$4K
WSM icon
357
Williams-Sonoma
WSM
$29.1B
$613K 0.04%
6,078
– –
NTRS icon
358
Northern Trust
NTRS
$33.7B
$611K 0.04%
7,246
+39
+0.5% +$2.88K
GPI icon
359
Group 1 Automotive
GPI
$3.23B
$604K 0.04%
1,981
– –
LUV icon
360
Southwest Airlines
LUV
$23B
$594K 0.04%
20,573
+143
+0.7% +$3.72K
WIRE
361
DELISTED
Encore Wire Corp
WIRE
$594K 0.04%
2,781
-3,266
-54% -$622K
MKC icon
362
McCormick & Company Non-Voting
MKC
$14.1B
$593K 0.04%
8,674
+68
+0.8% +$4.45K
TXT icon
363
Textron
TXT
$15.1B
$593K 0.04%
7,377
+10
+0.1% +$775
HBAN icon
364
Huntington Bancshares
HBAN
$35.1B
$591K 0.04%
46,428
+485
+1% +$5.3K
CMS icon
365
CMS Energy
CMS
$22.3B
$588K 0.04%
10,134
+77
+0.8% +$4.3K
ALB icon
366
Albemarle
ALB
$14.8B
$584K 0.04%
4,043
+38
+0.9% +$5.22K
MLI icon
367
Mueller Industries
MLI
$15.4B
$584K 0.04%
24,756
– –
JBHT icon
368
JB Hunt Transport Services
JBHT
$25.1B
$583K 0.04%
2,920
+18
+0.6% +$3.33K
AVY icon
369
Avery Dennison
AVY
$13.2B
$581K 0.04%
2,874
+17
+0.6% +$3.18K
PCG icon
370
PG&E
PCG
$37.4B
$579K 0.04%
32,137
+2,299
+8% +$38.8K
DDS icon
371
Dillards
DDS
$9.64B
$577K 0.04%
1,430
– –
J icon
372
Jacobs Solutions
J
$16.9B
$576K 0.04%
5,364
+31
+0.6% +$3.38K
MRO
373
DELISTED
Marathon Oil Corporation
MRO
$572K 0.04%
23,662
-16,732
-41% -$431K
WDC icon
374
Western Digital
WDC
$156B
$569K 0.04%
14,380
-15,123
-51% -$529K
KDP icon
375
Keurig Dr Pepper
KDP
$41.3B
$569K 0.04%
17,067
+890
+6% +$27.7K
13 14
15
16 17

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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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BWC
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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.