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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
+0.43%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$365M
AUM Growth
-$28.1M
Cap. Flow
-$26.9M
Cap. Flow %
-7.38%
Top 10 Hldgs %
56.68%
Holding
168
New
7
Increased
83
Reduced
58
Closed
15

Top Buys

Rank Stock Value
1
ANGL icon
VanEck Fallen Angel High Yield Bond ETF
ANGL
+$1.91M
2
AGGY icon
WisdomTree Yield Enhanced US Aggregate Bond Fund
AGGY
+$1.88M
3
VXUS icon
Vanguard Total International Stock ETF
VXUS
+$948K
4
VTI icon
Vanguard Total Stock Market ETF
VTI
+$808K
5
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$551K

Top Sells

Rank Stock Value
1
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$7.95M
2
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$4.42M
3
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$4.04M
4
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$3.49M
5
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$1.75M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 10.81%
2 Technology 6.78%
3 Industrials 4.63%
4 Communication Services 2.96%
5 Healthcare 2.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IJR icon
101
iShares Core S&P Small-Cap ETF
IJR
$110B
$649K 0.18%
8,295
-22
-0.3% -$1.71K
PG icon
102
Procter & Gamble
PG
$339B
$632K 0.17%
5,763
-116
-2% -$12.4K
DIS icon
103
Walt Disney
DIS
$172B
$624K 0.17%
4,466
+3
+0.1% +$398
PFE icon
104
Pfizer
PFE
$143B
$602K 0.17%
14,656
+88
+0.6% +$3.49K
CSCO icon
105
Cisco
CSCO
$450B
$595K 0.16%
10,871
-227
-2% -$12.5K
HD icon
106
Home Depot
HD
$342B
$575K 0.16%
2,767
+47
+2% +$9.38K
MA icon
107
Mastercard
MA
$500B
$559K 0.15%
2,113
-42
-2% -$10.5K
UNH icon
108
UnitedHealth
UNH
$383B
$554K 0.15%
2,270
+18
+0.8% +$4.33K
VZ icon
109
Verizon
VZ
$201B
$538K 0.15%
9,414
-186
-2% -$10.7K
T icon
110
AT&T
T
$167B
$531K 0.15%
20,993
-390
-2% -$9.35K
INTC icon
111
Intel
INTC
$428B
$522K 0.14%
10,914
+9
+0.1% +$446
MRK icon
112
Merck
MRK
$324B
$515K 0.14%
6,440
-130
-2% -$9.95K
SCHO icon
113
Schwab Short-Term US Treasury ETF
SCHO
$12.8B
$513K 0.14%
20,288
+2,184
+12% +$54.9K
CVX icon
114
Chevron
CVX
$381B
$512K 0.14%
4,118
-86
-2% -$10.4K
WFC icon
115
Wells Fargo
WFC
$257B
$473K 0.13%
9,996
-200
-2% -$9.35K
CMCSA icon
116
Comcast
CMCSA
$87.9B
$464K 0.13%
10,978
+144
+1% +$6.08K
BA icon
117
Boeing
BA
$171B
$460K 0.13%
1,264
-25
-2% -$9.12K
KO icon
118
Coca-Cola
KO
$383B
$446K 0.12%
8,765
-175
-2% -$8.58K
VPU
119
Vanguard Utilities ETF
VPU
$8.6B
$435K 0.12%
3,275
– –
PEP icon
120
PepsiCo
PEP
$197B
$424K 0.12%
3,236
-63
-2% -$8.08K
C icon
121
Citigroup
C
$215B
$416K 0.11%
5,936
-119
-2% -$7.96K
ORCL icon
122
Oracle
ORCL
$345B
$375K 0.1%
6,580
-136
-2% -$7.36K
WMT icon
123
Walmart Inc
WMT
$908B
$368K 0.1%
9,996
-198
-2% -$6.82K
NFLX icon
124
Netflix
NFLX
$306B
$365K 0.1%
9,930
-180
-2% -$6.49K
ABT icon
125
Abbott
ABT
$189B
$336K 0.09%
3,996
-78
-2% -$6.14K
3 4
5
6 7

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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
SouthState Corp Winter Haven, Florida $2.14B AUM 18.39% 1-Year Est. Return
NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
Index Venture Associates VI St. Helier, Channel Islands, Jersey $2.11B AUM 13.76% 1-Year Est. Return
GA
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HJGA
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Empirical Finance's Q2 2019 Portfolio in Review

As of Q2 2019, Empirical Finance held 168 positions worth $365M, down 7.2% from $393M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Empirical Finance withdrew a net $26.9M in Q2 2019, closing 15 positions and reducing 58 holdings. Its most notable exit was Schwab Intermediately-Term US Treasury ETF, an estimated $4.04M position sold in full.

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

Against the trend, Empirical Finance opened a new position in VanEck Fallen Angel High Yield Bond ETF worth $1.94M.

  • Empirical Finance's largest Q2 2019 buy was VanEck Fallen Angel High Yield Bond ETF: 66,235 shares worth $1.94M.
  • Empirical Finance added most to Vanguard Total Stock Market ETF in Q2 2019, an estimated $808K increase.
  • Empirical Finance's biggest Q2 2019 reduction was Alpha Architect US Quantitative Momentum ETF, cutting an estimated $7.95M.
  • Empirical Finance fully exited Schwab Intermediately-Term US Treasury ETF in Q2 2019, selling an estimated $4.04M.
  • Empirical Finance's ten largest holdings make up 57% of its $365M portfolio in Q2 2019.
  • Empirical Finance opened 7 new positions and closed 15 in Q2 2019.
  • Empirical Finance's portfolio value fell 7.2% quarter-over-quarter to $365M.

Based on Empirical Finance's 13F filing for Q2 2019, filed 9 Jul 2019.