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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
AMAT icon
76
Applied Materials
AMAT
$403B
$1.61M 0.26%
11,338
+1,568
+16% +$210K
SBUX icon
77
Starbucks
SBUX
$120B
$1.6M 0.26%
14,325
+2,037
+17% +$230K
MS icon
78
Morgan Stanley
MS
$331B
$1.59M 0.26%
17,349
+2,840
+20% +$244K
IBM icon
79
IBM
IBM
$211B
$1.55M 0.25%
11,076
+1,610
+17% +$220K
BA icon
80
Boeing
BA
$171B
$1.55M 0.25%
6,463
+974
+18% +$235K
SFM icon
81
Sprouts Farmers Market
SFM
$8.13B
$1.55M 0.25%
62,266
+13,569
+28% +$362K
HCA icon
82
HCA Healthcare
HCA
$87.2B
$1.55M 0.25%
7,476
-2,730
-27% -$556K
GS icon
83
Goldman Sachs
GS
$300B
$1.53M 0.25%
4,045
+634
+19% +$227K
INTU icon
84
Intuit
INTU
$86.5B
$1.53M 0.25%
3,131
+515
+20% +$223K
RTX icon
85
RTX Corp
RTX
$290B
$1.51M 0.25%
17,653
+2,495
+16% +$210K
BLK icon
86
Blackrock
BLK
$169B
$1.46M 0.24%
1,663
+204
+14% +$172K
SNX icon
87
TD Synnex
SNX
$20.4B
$1.45M 0.24%
11,915
+4,168
+54% +$512K
TGT icon
88
Target
TGT
$65.6B
$1.45M 0.24%
6,004
+857
+17% +$188K
KBH icon
89
KB Home
KBH
$3.37B
$1.43M 0.23%
35,010
+8,432
+32% +$389K
CAT icon
90
Caterpillar
CAT
$375B
$1.42M 0.23%
6,537
+934
+17% +$216K
HPQ icon
91
HP
HPQ
$24.9B
$1.41M 0.23%
46,680
-21,658
-32% -$692K
PARA
92
DELISTED
Paramount Global Class B
PARA
$1.4M 0.23%
31,054
+25,419
+451% +$1.05M
TSLA icon
93
Tesla
TSLA
$1.23T
$1.4M 0.23%
+6,189
New +$1.34M
GE icon
94
GE Aerospace
GE
$374B
$1.4M 0.23%
20,841
+3,055
+17% +$204K
BIIB icon
95
Biogen
BIIB
$30B
$1.37M 0.22%
3,957
-5,325
-57% -$1.61M
MMM icon
96
3M
MMM
$90.9B
$1.37M 0.22%
8,237
+1,202
+17% +$201K
DE icon
97
Deere & Co
DE
$160B
$1.31M 0.21%
3,722
+541
+17% +$197K
AXP icon
98
American Express
AXP
$227B
$1.3M 0.21%
7,877
+1,094
+16% +$171K
LH icon
99
Labcorp
LH
$25B
$1.3M 0.21%
5,471
+4,317
+374% +$984K
CHTR icon
100
Charter Communications
CHTR
$17.3B
$1.29M 0.21%
1,782
+188
+12% +$127K
2 3
4
5 6

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AAP
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BCM
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GS
Gilead Sciences Foster City, California $2.12B AUM 143.53% 1-Year Est. Return
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.