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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
+7.3%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$613M
AUM Growth
+$44.8M
Cap. Flow
-$30.6M
Cap. Flow %
-4.99%
Top 10 Hldgs %
32.64%
Holding
423
New
98
Increased
241
Reduced
64
Closed
20

Top Buys

Rank Stock Value
1
PDBC icon
Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
PDBC
+$5.58M
2
MSFT icon
Microsoft
MSFT
+$3.23M
3
AAPL icon
Apple
AAPL
+$3.19M
4
AMZN icon
Amazon
AMZN
+$2.53M
5
UNH icon
UnitedHealth
UNH
+$1.55M

Top Sells

Rank Stock Value
1
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.2M
2
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$7.96M
3
GLD icon
SPDR Gold Trust
GLD
+$7.95M
4
URI icon
United Rentals
URI
+$4.67M
5
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$4.09M

Sector Composition

Rank Sector Weight
1 Technology 16.92%
2 Healthcare 11.66%
3 Consumer Discretionary 9.86%
4 Financials 8.78%
5 Communication Services 8.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LLY icon
51
Eli Lilly
LLY
$1.02T
$2.25M 0.37%
9,788
+1,175
+14% +$236K
HUM icon
52
Humana
HUM
$44.4B
$2.23M 0.36%
5,038
+1,093
+28% +$478K
WFC icon
53
Wells Fargo
WFC
$261B
$2.22M 0.36%
48,997
+7,645
+18% +$341K
VOE icon
54
Vanguard Morningstar Mid-Cap Value ETF
VOE
$23.7B
$2.21M 0.36%
15,694
-330
-2% -$46.6K
AVGO icon
55
Broadcom
AVGO
$1.83T
$2.18M 0.35%
45,640
+7,360
+19% +$341K
TXN icon
56
Texas Instruments
TXN
$251B
$2.12M 0.34%
11,001
+1,588
+17% +$298K
COST icon
57
Costco
COST
$422B
$2.09M 0.34%
5,285
+750
+17% +$284K
DHR icon
58
Danaher
DHR
$136B
$2.02M 0.33%
8,486
+1,186
+16% +$263K
CI icon
59
Cigna
CI
$75B
$1.84M 0.3%
7,770
+4,137
+114% +$1.03M
HON icon
60
Honeywell
HON
$76.8B
$1.83M 0.3%
8,868
+1,215
+16% +$257K
PM icon
61
Philip Morris
PM
$301B
$1.83M 0.3%
18,460
+2,706
+17% +$260K
PHM icon
62
Pultegroup
PHM
$24.2B
$1.82M 0.3%
33,402
-45,521
-58% -$2.55M
BIG
63
DELISTED
Big Lots, Inc.
BIG
$1.82M 0.3%
27,584
+4,892
+22% +$326K
C icon
64
Citigroup
C
$223B
$1.81M 0.3%
25,594
+3,559
+16% +$263K
UNP icon
65
Union Pacific
UNP
$173B
$1.78M 0.29%
8,116
+1,081
+15% +$241K
BMY icon
66
Bristol-Myers Squibb
BMY
$132B
$1.77M 0.29%
26,551
+3,670
+16% +$239K
UTHR icon
67
United Therapeutics
UTHR
$25.7B
$1.76M 0.29%
9,787
-12,324
-56% -$2.35M
UPS icon
68
United Parcel Service
UPS
$88.8B
$1.75M 0.28%
8,398
+1,258
+18% +$252K
UHS icon
69
Universal Health Services
UHS
$9.97B
$1.73M 0.28%
11,825
+2,576
+28% +$389K
LOW icon
70
Lowe's Companies
LOW
$117B
$1.73M 0.28%
8,903
+1,108
+14% +$217K
AMGN icon
71
Amgen
AMGN
$207B
$1.71M 0.28%
7,026
+902
+15% +$222K
NEE icon
72
NextEra Energy
NEE
$183B
$1.69M 0.28%
23,102
+3,421
+17% +$257K
HLF icon
73
Herbalife
HLF
$1.27B
$1.68M 0.27%
31,859
-29,814
-48% -$1.48M
LMT icon
74
Lockheed Martin
LMT
$133B
$1.64M 0.27%
4,340
-773
-15% -$297K
GILD icon
75
Gilead Sciences
GILD
$161B
$1.64M 0.27%
23,833
-4,921
-17% -$329K
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
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IVAV
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GA
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HJGA
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Empirical Finance's Q2 2021 Portfolio in Review

As of Q2 2021, Empirical Finance held 423 positions worth $613M, up 7.9% from $569M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Empirical Finance withdrew a net $30.6M in Q2 2021, closing 20 positions and reducing 64 holdings. Its most notable exit was SPDR Gold Trust, an estimated $7.95M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 15% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Empirical Finance opened a new position in Tesla worth $1.4M.

  • Empirical Finance's largest Q2 2021 buy was Tesla: 6,189 shares worth $1.4M.
  • Empirical Finance added most to Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF in Q2 2021, an estimated $5.58M increase.
  • Empirical Finance's biggest Q2 2021 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.2M.
  • Empirical Finance fully exited SPDR Gold Trust in Q2 2021, selling an estimated $7.95M.
  • Empirical Finance's ten largest holdings make up 33% of its $613M portfolio in Q2 2021.
  • Empirical Finance opened 98 new positions and closed 20 in Q2 2021.
  • Empirical Finance's portfolio value rose 7.9% quarter-over-quarter to $613M.

Based on Empirical Finance's 13F filing for Q2 2021, filed 4 Aug 2021.