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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
AAVM
51
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25.2M
$5.46M 0.38%
234,914
-177,580
-43% -$4M
TXN icon
52
Texas Instruments
TXN
$246B
$5.45M 0.38%
31,943
+196
+0.6% +$30.4K
CAT icon
53
Caterpillar
CAT
$382B
$5.41M 0.38%
18,281
+40
+0.2% +$10.4K
UNP icon
54
Union Pacific
UNP
$173B
$5.39M 0.38%
21,942
+43
+0.2% +$9.45K
DHR icon
55
Danaher
DHR
$139B
$5.27M 0.37%
22,779
-2,810
-11% -$598K
IBM icon
56
IBM
IBM
$213B
$5.16M 0.36%
31,579
-50
-0.2% -$7.55K
PM icon
57
Philip Morris
PM
$292B
$5.1M 0.36%
54,184
+325
+0.6% +$29.9K
BA icon
58
Boeing
BA
$185B
$5.07M 0.35%
19,447
+122
+0.6% +$26.1K
HON icon
59
Honeywell
HON
$78.2B
$4.95M 0.35%
25,033
+44
+0.2% +$7.93K
LOW icon
60
Lowe's Companies
LOW
$119B
$4.93M 0.34%
22,138
-121
-0.5% -$24.5K
AMAT icon
61
Applied Materials
AMAT
$411B
$4.91M 0.34%
30,325
-243
-0.8% -$35.7K
GE icon
62
GE Aerospace
GE
$383B
$4.84M 0.34%
47,554
+317
+0.7% +$29.4K
BKNG icon
63
Booking.com
BKNG
$149B
$4.74M 0.33%
33,375
-25
-0.1% -$3.12K
NKE icon
64
Nike
NKE
$63.3B
$4.73M 0.33%
43,581
+194
+0.4% +$20.8K
NOW icon
65
ServiceNow
NOW
$118B
$4.68M 0.33%
33,150
+340
+1% +$42.9K
ORCL icon
66
Oracle
ORCL
$409B
$4.68M 0.33%
44,410
+1,005
+2% +$110K
SPGI icon
67
S&P Global
SPGI
$123B
$4.6M 0.32%
10,435
+71
+0.7% +$28K
GS icon
68
Goldman Sachs
GS
$303B
$4.51M 0.31%
11,682
+29
+0.2% +$9.68K
MS icon
69
Morgan Stanley
MS
$332B
$4.37M 0.3%
46,840
-19
-0% -$1.52K
QCOM icon
70
Qualcomm
QCOM
$159B
$4.33M 0.3%
29,933
+670
+2% +$83K
RTX icon
71
RTX Corp
RTX
$292B
$4.32M 0.3%
51,310
+196
+0.4% +$15.5K
NEE icon
72
NextEra Energy
NEE
$181B
$4.24M 0.3%
69,778
+462
+0.7% +$26.3K
T icon
73
AT&T
T
$162B
$4.16M 0.29%
248,209
+1,792
+0.7% +$28.3K
BLK icon
74
Blackrock
BLK
$175B
$4.14M 0.29%
5,098
+5
+0.1% +$3.49K
ISRG icon
75
Intuitive Surgical
ISRG
$135B
$4.12M 0.29%
12,215
+12
+0.1% +$3.58K
1 2
3
4 5

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BCM
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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 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.