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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
-20.14%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$322M
AUM Growth
-$89.5M
Cap. Flow
+$6.81M
Cap. Flow %
2.12%
Top 10 Hldgs %
43.93%
Holding
251
New
49
Increased
124
Reduced
26
Closed
42

Top Buys

Rank Stock Value
1
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
+$22.2M
2
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$6.07M
3
MSFT icon
Microsoft
MSFT
+$2.57M
4
AAPL icon
Apple
AAPL
+$2.48M
5
DAL icon
Delta Air Lines
DAL
+$2.17M

Top Sells

Rank Stock Value
1
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$11.1M
2
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$10.6M
3
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$9.99M
4
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$9.29M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.46M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 11.03%
2 Healthcare 9.44%
3 Technology 9%
4 Industrials 7.53%
5 Communication Services 4.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALV icon
76
Autoliv
ALV
$9.02B
$1.13M 0.35%
+24,467
New +$1.68M
XOM icon
77
ExxonMobil
XOM
$628B
$1.13M 0.35%
29,645
+4,638
+19% +$256K
HPQ icon
78
HP
HPQ
$26.1B
$1.12M 0.35%
64,450
-40,746
-39% -$825K
TARO
79
DELISTED
Taro Pharmaceutical Industries Ltd.
TARO
$1.11M 0.35%
18,199
+8,523
+88% +$632K
BAC icon
80
Bank of America
BAC
$442B
$1.08M 0.34%
51,027
+16,636
+48% +$499K
VNQ icon
81
Vanguard Real Estate ETF
VNQ
$39.2B
$1.08M 0.34%
15,496
-17,104
-52% -$1.5M
PFE icon
82
Pfizer
PFE
$147B
$1.07M 0.33%
34,520
+11,613
+51% +$396K
DIS icon
83
Walt Disney
DIS
$177B
$1.04M 0.32%
10,723
+3,717
+53% +$470K
CSCO icon
84
Cisco
CSCO
$479B
$1.01M 0.31%
25,620
+8,751
+52% +$384K
KO icon
85
Coca-Cola
KO
$374B
$984K 0.31%
22,229
+7,994
+56% +$432K
PEP icon
86
PepsiCo
PEP
$189B
$974K 0.3%
8,107
+2,880
+55% +$389K
VXUS icon
87
Vanguard Total International Stock ETF
VXUS
$158B
$967K 0.3%
23,035
+4,813
+26% +$244K
PKG icon
88
Packaging Corp of America
PKG
$22.8B
$962K 0.3%
11,081
+197
+2% +$19.1K
NFLX icon
89
Netflix
NFLX
$309B
$946K 0.29%
25,200
+9,050
+56% +$320K
WMT icon
90
Walmart Inc
WMT
$894B
$941K 0.29%
24,840
+8,793
+55% +$338K
BBY icon
91
Best Buy
BBY
$17.8B
$940K 0.29%
16,492
-16,363
-50% -$1.3M
CMCSA icon
92
Comcast
CMCSA
$87.8B
$922K 0.29%
26,825
+9,403
+54% +$397K
IP icon
93
International Paper
IP
$22.4B
$898K 0.28%
30,477
-21,859
-42% -$811K
RRX icon
94
Regal Rexnord
RRX
$12.2B
$895K 0.28%
14,212
– –
ADBE icon
95
Adobe
ADBE
$103B
$890K 0.28%
2,797
+982
+54% +$336K
VOO icon
96
Vanguard S&P 500 ETF
VOO
$1.01T
$851K 0.26%
3,592
-548
-13% -$154K
NVDA icon
97
NVIDIA
NVDA
$5.31T
$830K 0.26%
125,960
+50,760
+68% +$320K
STLD icon
98
Steel Dynamics
STLD
$38.1B
$830K 0.26%
36,841
– –
NUE icon
99
Nucor
NUE
$62.6B
$814K 0.25%
22,600
+624
+3% +$27.7K
ABT icon
100
Abbott
ABT
$183B
$806K 0.25%
10,216
+3,699
+57% +$309K
2 3
4
5 6

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BCM
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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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CF
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Empirical Finance's Q1 2020 Portfolio in Review

As of Q1 2020, Empirical Finance held 251 positions worth $322M, down 22% from $411M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Empirical Finance's Q1 2020 filing shows 49 new, 124 increased, 26 reduced and 42 closed positions. Its largest new stake was iShares 1-3 Year Treasury Bond ETF: 259,926 shares worth $22.5M. The largest sale was Alpha Architect International Quantitative Momentum ETF, an estimated $11.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 11% of assets, up from 10% a quarter earlier, followed by Healthcare and Technology.

  • Empirical Finance's largest Q1 2020 buy was iShares 1-3 Year Treasury Bond ETF: 259,926 shares worth $22.5M.
  • Empirical Finance added most to Microsoft in Q1 2020, an estimated $2.57M increase.
  • Empirical Finance's biggest Q1 2020 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $11.1M.
  • Empirical Finance fully exited Vanguard FTSE All-World ex-US ETF in Q1 2020, selling an estimated $3.7M.
  • Empirical Finance's ten largest holdings make up 44% of its $322M portfolio in Q1 2020.
  • Empirical Finance opened 49 new positions and closed 42 in Q1 2020.
  • Empirical Finance's portfolio value fell 22% quarter-over-quarter to $322M.

Based on Empirical Finance's 13F filing for Q1 2020, filed 16 Apr 2020.