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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
COP icon
101
ConocoPhillips
COP
$140B
$792K 0.25%
25,730
+2,272
+10% +$116K
CVX icon
102
Chevron
CVX
$371B
$778K 0.24%
10,738
+3,917
+57% +$387K
COST icon
103
Costco
COST
$418B
$742K 0.23%
2,601
+924
+55% +$280K
AMGN icon
104
Amgen
AMGN
$220B
$737K 0.23%
3,635
+1,231
+51% +$269K
LLY icon
105
Eli Lilly
LLY
$1.04T
$713K 0.22%
5,141
+1,733
+51% +$238K
BMY icon
106
Bristol-Myers Squibb
BMY
$130B
$695K 0.22%
12,474
+4,939
+66% +$302K
CRM icon
107
Salesforce
CRM
$158B
$682K 0.21%
4,735
+1,847
+64% +$317K
WFC icon
108
Wells Fargo
WFC
$270B
$676K 0.21%
23,556
+7,882
+50% +$335K
NEE icon
109
NextEra Energy
NEE
$179B
$672K 0.21%
11,168
+4,072
+57% +$256K
TMO icon
110
Thermo Fisher Scientific
TMO
$214B
$660K 0.21%
2,328
+833
+56% +$263K
PM icon
111
Philip Morris
PM
$294B
$656K 0.2%
8,989
+3,216
+56% +$265K
PYPL icon
112
PayPal
PYPL
$49.6B
$645K 0.2%
6,737
+2,447
+57% +$270K
URBN icon
113
Urban Outfitters
URBN
$6.67B
$608K 0.19%
42,696
-32,042
-43% -$744K
NKE icon
114
Nike
NKE
$63B
$604K 0.19%
7,296
+2,376
+48% +$221K
AVT icon
115
Avnet
AVT
$7.97B
$603K 0.19%
24,043
– –
UNP icon
116
Union Pacific
UNP
$176B
$591K 0.18%
4,191
+1,425
+52% +$236K
C icon
117
Citigroup
C
$231B
$572K 0.18%
13,591
+4,457
+49% +$299K
HON icon
118
Honeywell
HON
$78.6B
$567K 0.18%
4,494
+1,569
+54% +$242K
IBM icon
119
IBM
IBM
$222B
$567K 0.18%
5,349
+1,914
+56% +$242K
TXN icon
120
Texas Instruments
TXN
$254B
$548K 0.17%
5,485
+1,895
+53% +$227K
NUS icon
121
Nu Skin
NUS
$253M
$543K 0.17%
24,861
– –
DINO icon
122
HF Sinclair
DINO
$14.8B
$534K 0.17%
21,770
-17,540
-45% -$655K
AMCX icon
123
AMC Global Media
AMCX
$528M
$527K 0.16%
21,678
-15,950
-42% -$540K
DHR icon
124
Danaher
DHR
$140B
$514K 0.16%
4,191
+1,495
+55% +$201K
VONE icon
125
Vanguard Russell 1000 ETF
VONE
$8.53B
$497K 0.15%
+4,243
New +$593K
3 4
5
6 7

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IVAV
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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.