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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
ABBV icon
26
AbbVie
ABBV
$443B
$7.46M 0.77%
46,177
+3,817
+9% +$585K
MRK icon
27
Merck
MRK
$322B
$7.38M 0.76%
66,551
+5,032
+8% +$514K
PEP icon
28
PepsiCo
PEP
$190B
$6.59M 0.68%
36,481
+2,797
+8% +$499K
KO icon
29
Coca-Cola
KO
$377B
$6.53M 0.68%
102,600
+7,993
+8% +$483K
BAC icon
30
Bank of America
BAC
$435B
$6.45M 0.67%
194,674
+12,890
+7% +$444K
V icon
31
Visa
V
$684B
$6.15M 0.64%
29,619
+3,420
+13% +$690K
TSLA icon
32
Tesla
TSLA
$1.23T
$6.13M 0.63%
49,765
+4,272
+9% +$809K
AVGO icon
33
Broadcom
AVGO
$1.85T
$5.93M 0.61%
106,090
+8,780
+9% +$440K
TMO icon
34
Thermo Fisher Scientific
TMO
$213B
$5.75M 0.6%
10,437
+861
+9% +$456K
COST icon
35
Costco
COST
$422B
$5.38M 0.56%
11,775
+946
+9% +$462K
CSCO icon
36
Cisco
CSCO
$457B
$5.31M 0.55%
111,509
+8,420
+8% +$383K
WMT icon
37
Walmart Inc
WMT
$885B
$5.29M 0.55%
111,864
+8,940
+9% +$425K
ABT icon
38
Abbott
ABT
$183B
$5.1M 0.53%
46,480
+3,670
+9% +$380K
COP icon
39
ConocoPhillips
COP
$147B
$4.55M 0.47%
38,530
+2,462
+7% +$299K
DHR icon
40
Danaher
DHR
$137B
$4.53M 0.47%
19,254
+1,750
+10% +$406K
NEE icon
41
NextEra Energy
NEE
$181B
$4.34M 0.45%
51,972
+4,152
+9% +$335K
VZ icon
42
Verizon
VZ
$195B
$4.34M 0.45%
110,134
+8,892
+9% +$335K
WFC icon
43
Wells Fargo
WFC
$261B
$4.33M 0.45%
104,898
+7,687
+8% +$340K
QQQ icon
44
Invesco QQQ Trust
QQQ
$453B
$4.33M 0.45%
16,243
– –
ADBE icon
45
Adobe
ADBE
$99.5B
$4.24M 0.44%
12,599
+797
+7% +$255K
DIS icon
46
Walt Disney
DIS
$167B
$4.22M 0.44%
48,519
+4,215
+10% +$403K
CMCSA icon
47
Comcast
CMCSA
$85B
$4.19M 0.43%
119,948
+8,886
+8% +$294K
BMY icon
48
Bristol-Myers Squibb
BMY
$133B
$4.15M 0.43%
57,735
+4,392
+8% +$331K
PM icon
49
Philip Morris
PM
$297B
$4.14M 0.43%
40,902
+3,232
+9% +$305K
TXN icon
50
Texas Instruments
TXN
$252B
$4.04M 0.42%
24,437
+1,980
+9% +$330K
1
2
3 4 5

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BCM
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GS
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SC
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NAAA
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IVAV
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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.