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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
+12.01%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$393M
AUM Growth
+$55.6M
Cap. Flow
+$20.5M
Cap. Flow %
5.2%
Top 10 Hldgs %
56.71%
Holding
179
New
37
Increased
77
Reduced
25
Closed
18

Top Buys

Rank Stock Value
1
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$4.34M
2
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$3.99M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$3.24M
4
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$2.9M
5
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$1.35M

Top Sells

Rank Stock Value
1
SCHX icon
Schwab US Large- Cap ETF
SCHX
+$3.94M
2
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$3.89M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$2.55M
4
HLF icon
Herbalife
HLF
+$2.05M
5
AEO icon
American Eagle Outfitters
AEO
+$1.62M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 10.74%
2 Technology 6.24%
3 Industrials 3.98%
4 Healthcare 2.82%
5 Communication Services 2.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOGL icon
101
Alphabet (Google) Class A
GOOGL
$4.36T
$818K 0.21%
13,900
+3,260
+31% +$184K
DBI icon
102
Designer Brands
DBI
$307M
$815K 0.21%
36,659
+5,430
+17% +$142K
JPM icon
103
JPMorgan Chase
JPM
$935B
$810K 0.21%
8,004
+1,825
+30% +$188K
VOO icon
104
Vanguard S&P 500 ETF
VOO
$979B
$726K 0.18%
2,799
– –
PIZ icon
105
Invesco Dorsey Wright Developed Markets Momentum ETF
PIZ
$724M
$680K 0.17%
26,300
-10,386
-28% -$258K
TEN
106
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
$656K 0.17%
+29,591
New +$933K
IJR icon
107
iShares Core S&P Small-Cap ETF
IJR
$109B
$642K 0.16%
8,317
-4
-0% -$307
BAC icon
108
Bank of America
BAC
$435B
$614K 0.16%
22,240
+5,032
+29% +$142K
PG icon
109
Procter & Gamble
PG
$336B
$612K 0.16%
5,879
+1,345
+30% +$131K
CSCO icon
110
Cisco
CSCO
$457B
$599K 0.15%
11,098
+2,412
+28% +$117K
PFE icon
111
Pfizer
PFE
$143B
$587K 0.15%
14,568
+3,390
+30% +$136K
INTC icon
112
Intel
INTC
$455B
$586K 0.15%
10,905
+2,496
+30% +$127K
VZ icon
113
Verizon
VZ
$195B
$568K 0.14%
9,600
+2,237
+30% +$127K
UNH icon
114
UnitedHealth
UNH
$376B
$557K 0.14%
2,252
+523
+30% +$133K
HD icon
115
Home Depot
HD
$331B
$522K 0.13%
2,720
+614
+29% +$113K
MRK icon
116
Merck
MRK
$322B
$521K 0.13%
6,570
+1,496
+29% +$112K
CVX icon
117
Chevron
CVX
$392B
$518K 0.13%
4,204
+1,033
+33% +$122K
MA icon
118
Mastercard
MA
$506B
$507K 0.13%
2,155
+493
+30% +$106K
T icon
119
AT&T
T
$159B
$506K 0.13%
21,383
+5,212
+32% +$120K
DIS icon
120
Walt Disney
DIS
$167B
$496K 0.13%
4,463
+1,796
+67% +$201K
WFC icon
121
Wells Fargo
WFC
$261B
$493K 0.13%
10,196
+2,302
+29% +$113K
BA icon
122
Boeing
BA
$171B
$492K 0.13%
1,289
+292
+29% +$112K
SCHO icon
123
Schwab Short-Term US Treasury ETF
SCHO
$12.8B
$454K 0.12%
18,104
+4,826
+36% +$121K
CMCSA icon
124
Comcast
CMCSA
$85B
$433K 0.11%
10,834
+2,473
+30% +$93.1K
VPU
125
Vanguard Utilities ETF
VPU
$8.46B
$424K 0.11%
3,275
– –
3 4
5
6 7

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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 Q1 2019 Portfolio in Review

As of Q1 2019, Empirical Finance held 179 positions worth $393M, up 16% from $337M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Empirical Finance deployed $20.5M of net new capital in Q1 2019, opening 37 new positions and adding to 77 existing holdings. Its largest new stake was Schwab Intermediately-Term US Treasury ETF: 150,266 shares worth $4.04M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 11% of assets, down from 12% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, an estimated $3.89M trimmed.

  • Empirical Finance's largest Q1 2019 buy was Schwab Intermediately-Term US Treasury ETF: 150,266 shares worth $4.04M.
  • Empirical Finance added most to Alpha Architect US Quantitative Momentum ETF in Q1 2019, an estimated $4.34M increase.
  • Empirical Finance's biggest Q1 2019 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $3.89M.
  • Empirical Finance fully exited Schwab US Large- Cap ETF in Q1 2019, selling an estimated $3.94M.
  • Empirical Finance's ten largest holdings make up 57% of its $393M portfolio in Q1 2019.
  • Empirical Finance opened 37 new positions and closed 18 in Q1 2019.
  • Empirical Finance's portfolio value rose 16% quarter-over-quarter to $393M.

Based on Empirical Finance's 13F filing for Q1 2019, filed 10 May 2019.