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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
+0.43%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$365M
AUM Growth
-$28.1M
Cap. Flow
-$26.9M
Cap. Flow %
-7.38%
Top 10 Hldgs %
56.68%
Holding
168
New
7
Increased
83
Reduced
58
Closed
15

Top Buys

Rank Stock Value
1
ANGL icon
VanEck Fallen Angel High Yield Bond ETF
ANGL
+$1.91M
2
AGGY icon
WisdomTree Yield Enhanced US Aggregate Bond Fund
AGGY
+$1.88M
3
VXUS icon
Vanguard Total International Stock ETF
VXUS
+$948K
4
VTI icon
Vanguard Total Stock Market ETF
VTI
+$808K
5
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$551K

Top Sells

Rank Stock Value
1
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$7.95M
2
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$4.42M
3
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$4.04M
4
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$3.49M
5
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$1.75M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 10.81%
2 Technology 6.78%
3 Industrials 4.63%
4 Communication Services 2.96%
5 Healthcare 2.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XOM icon
51
ExxonMobil
XOM
$634B
$1.46M 0.4%
18,993
-192
-1% -$14.9K
CI icon
52
Cigna
CI
$79.6B
$1.43M 0.39%
9,077
+77
+0.9% +$12.1K
LUV icon
53
Southwest Airlines
LUV
$22.7B
$1.39M 0.38%
27,432
+265
+1% +$13.7K
FCX icon
54
Freeport-McMoran
FCX
$88.6B
$1.33M 0.36%
114,384
+1,175
+1% +$13.7K
EME icon
55
Emcor
EME
$31.4B
$1.3M 0.36%
14,815
+78
+0.5% +$6.32K
NVR icon
56
NVR
NVR
$17.3B
$1.27M 0.35%
376
+2
+0.5% +$6.41K
INGR icon
57
Ingredion
INGR
$6.48B
$1.24M 0.34%
15,033
+167
+1% +$14.4K
NUE icon
58
Nucor
NUE
$60.5B
$1.24M 0.34%
22,451
+227
+1% +$12.5K
AMAT icon
59
Applied Materials
AMAT
$378B
$1.22M 0.34%
27,253
+382
+1% +$16.1K
MSFT icon
60
Microsoft
MSFT
$2.92T
$1.17M 0.32%
8,707
+295
+4% +$37.5K
VSH icon
61
Vishay Intertechnology
VSH
$5.02B
$1.16M 0.32%
70,326
+782
+1% +$13.8K
ALV icon
62
Autoliv
ALV
$9.09B
$1.11M 0.31%
15,798
+175
+1% +$12.8K
LRCX icon
63
Lam Research
LRCX
$337B
$1.11M 0.3%
59,130
+230
+0.4% +$4.36K
COHR
64
DELISTED
Coherent Inc
COHR
$1.11M 0.3%
8,133
+43
+0.5% +$5.81K
MU icon
65
Micron Technology
MU
$927B
$1.09M 0.3%
28,140
+86
+0.3% +$3.28K
META icon
66
Meta Platforms (Facebook)
META
$1.51T
$1.08M 0.3%
5,595
+8
+0.1% +$1.46K
BBWI icon
67
Bath & Body Works
BBWI
$4.13B
$1.04M 0.28%
49,233
+524
+1% +$10.4K
GLD icon
68
SPDR Gold Trust
GLD
$131B
$1.03M 0.28%
7,766
-19
-0.2% -$2.35K
VGK icon
69
Vanguard FTSE Europe ETF
VGK
$30.2B
$1.03M 0.28%
18,740
-46
-0.2% -$2.51K
VPL icon
70
Vanguard FTSE Pacific ETF
VPL
$7.89B
$1.02M 0.28%
15,372
-37
-0.2% -$2.42K
IPG
71
DELISTED
Interpublic Group of Companies
IPG
$1.01M 0.28%
44,918
+217
+0.5% +$4.82K
IJH icon
72
iShares Core S&P Mid-Cap ETF
IJH
$123B
$1.01M 0.28%
26,025
-70
-0.3% -$2.68K
STLD icon
73
Steel Dynamics
STLD
$37.5B
$995K 0.27%
32,950
+363
+1% +$11.1K
TNL icon
74
Travel + Leisure Co
TNL
$4.81B
$980K 0.27%
22,331
+114
+0.5% +$4.86K
VSS icon
75
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.2B
$972K 0.27%
9,230
-23
-0.2% -$2.4K
1 2
3
4 5

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AAP
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BCM
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GS
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SC
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NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
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GA
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HJGA
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Empirical Finance's Q2 2019 Portfolio in Review

As of Q2 2019, Empirical Finance held 168 positions worth $365M, down 7.2% from $393M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Empirical Finance withdrew a net $26.9M in Q2 2019, closing 15 positions and reducing 58 holdings. Its most notable exit was Schwab Intermediately-Term US Treasury ETF, an estimated $4.04M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 11% of assets, up from 11% a quarter earlier, followed by Technology and Industrials.

Against the trend, Empirical Finance opened a new position in VanEck Fallen Angel High Yield Bond ETF worth $1.94M.

  • Empirical Finance's largest Q2 2019 buy was VanEck Fallen Angel High Yield Bond ETF: 66,235 shares worth $1.94M.
  • Empirical Finance added most to Vanguard Total Stock Market ETF in Q2 2019, an estimated $808K increase.
  • Empirical Finance's biggest Q2 2019 reduction was Alpha Architect US Quantitative Momentum ETF, cutting an estimated $7.95M.
  • Empirical Finance fully exited Schwab Intermediately-Term US Treasury ETF in Q2 2019, selling an estimated $4.04M.
  • Empirical Finance's ten largest holdings make up 57% of its $365M portfolio in Q2 2019.
  • Empirical Finance opened 7 new positions and closed 15 in Q2 2019.
  • Empirical Finance's portfolio value fell 7.2% quarter-over-quarter to $365M.

Based on Empirical Finance's 13F filing for Q2 2019, filed 9 Jul 2019.