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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
+10.24%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$847M
AUM Growth
+$183M
Cap. Flow
+$126M
Cap. Flow %
14.82%
Top 10 Hldgs %
33.1%
Holding
469
New
51
Increased
318
Reduced
88
Closed
6

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$11.3M
2
AAPL icon
Apple
AAPL
+$11M
3
AMZN icon
Amazon
AMZN
+$6.86M
4
TSLA icon
Tesla
TSLA
+$6.45M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$3.97M

Top Sells

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
+$5.14M
2
PHM icon
Pultegroup
PHM
+$1.5M
3
ARW icon
Arrow Electronics
ARW
+$1.12M
4
NNN icon
NNN REIT
NNN
+$1.12M
5
BC icon
Brunswick
BC
+$1.03M

Sector Composition

Rank Sector Weight
1 Technology 20.41%
2 Healthcare 11.26%
3 Consumer Discretionary 10.4%
4 Financials 9.19%
5 Communication Services 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VXF icon
51
Vanguard Extended Market ETF
VXF
$30.8B
$3.17M 0.37%
17,312
– –
NEE icon
52
NextEra Energy
NEE
$180B
$3.13M 0.37%
33,537
+9,023
+37% +$780K
V icon
53
Visa
V
$683B
$3.1M 0.37%
14,302
+8,203
+134% +$1.76M
T icon
54
AT&T
T
$162B
$3M 0.35%
161,704
+42,944
+36% +$803K
TXN icon
55
Texas Instruments
TXN
$245B
$2.99M 0.35%
15,885
+4,215
+36% +$809K
MRK icon
56
Merck
MRK
$314B
$2.98M 0.35%
38,869
+6,847
+21% +$545K
INTU icon
57
Intuit
INTU
$88.1B
$2.96M 0.35%
4,605
+1,272
+38% +$785K
CVS icon
58
CVS Health
CVS
$134B
$2.96M 0.35%
28,695
+559
+2% +$51.7K
UNP icon
59
Union Pacific
UNP
$173B
$2.9M 0.34%
11,506
+2,916
+34% +$691K
AMD icon
60
Advanced Micro Devices
AMD
$783B
$2.89M 0.34%
20,106
+5,727
+40% +$770K
UPS icon
61
United Parcel Service
UPS
$90.5B
$2.63M 0.31%
12,257
+3,323
+37% +$676K
ELV icon
62
Elevance Health
ELV
$82B
$2.57M 0.3%
5,536
-10
-0.2% -$4.21K
AMAT icon
63
Applied Materials
AMAT
$407B
$2.53M 0.3%
16,100
+4,097
+34% +$594K
PM icon
64
Philip Morris
PM
$296B
$2.53M 0.3%
26,650
+7,063
+36% +$660K
MS icon
65
Morgan Stanley
MS
$331B
$2.44M 0.29%
24,895
+6,532
+36% +$651K
SBUX icon
66
Starbucks
SBUX
$120B
$2.4M 0.28%
20,530
+5,379
+36% +$606K
BMY icon
67
Bristol-Myers Squibb
BMY
$133B
$2.38M 0.28%
38,152
+10,041
+36% +$589K
VOE icon
68
Vanguard Morningstar Mid-Cap Value ETF
VOE
$23.8B
$2.36M 0.28%
15,694
– –
AMGN icon
69
Amgen
AMGN
$204B
$2.25M 0.27%
9,995
+2,567
+35% +$542K
HON icon
70
Honeywell
HON
$77.7B
$2.23M 0.26%
11,374
+1,985
+21% +$401K
BLK icon
71
Blackrock
BLK
$172B
$2.23M 0.26%
2,433
+663
+37% +$605K
GS icon
72
Goldman Sachs
GS
$300B
$2.23M 0.26%
5,825
+1,548
+36% +$613K
RTX icon
73
RTX Corp
RTX
$290B
$2.21M 0.26%
25,653
+6,910
+37% +$602K
ISRG icon
74
Intuitive Surgical
ISRG
$133B
$2.18M 0.26%
6,079
+1,630
+37% +$561K
IBM icon
75
IBM
IBM
$214B
$2.05M 0.24%
15,339
+3,587
+31% +$450K
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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HJGA
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Empirical Finance's Q4 2021 Portfolio in Review

As of Q4 2021, Empirical Finance held 469 positions worth $847M, up 28% from $663M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Empirical Finance deployed $126M of net new capital in Q4 2021, opening 51 new positions and adding to 318 existing holdings. Its largest new stake was Moderna: 2,192 shares worth $557K.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 16% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF, an estimated $5.14M trimmed.

  • Empirical Finance's largest Q4 2021 buy was Moderna: 2,192 shares worth $557K.
  • Empirical Finance added most to Microsoft in Q4 2021, an estimated $11.3M increase.
  • Empirical Finance's biggest Q4 2021 reduction was Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF, cutting an estimated $5.14M.
  • Empirical Finance fully exited NNN REIT in Q4 2021, selling an estimated $1.12M.
  • Empirical Finance's ten largest holdings make up 33% of its $847M portfolio in Q4 2021.
  • Empirical Finance opened 51 new positions and closed 6 in Q4 2021.
  • Empirical Finance's portfolio value rose 28% quarter-over-quarter to $847M.

Based on Empirical Finance's 13F filing for Q4 2021, filed 4 Feb 2022.