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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
ISRG icon
101
Intuitive Surgical
ISRG
$127B
$1.29M 0.21%
4,194
+579
+16% +$162K
URI icon
102
United Rentals
URI
$67.2B
$1.27M 0.21%
3,997
-14,453
-78% -$4.67M
AMD icon
103
Advanced Micro Devices
AMD
$776B
$1.26M 0.2%
13,380
+2,281
+21% +$184K
ALXN
104
DELISTED
Alexion Pharmaceuticals
ALXN
$1.25M 0.2%
6,828
-4,253
-38% -$730K
BBWI icon
105
Bath & Body Works
BBWI
$4.06B
$1.23M 0.2%
+21,086
New +$1.14M
SEE
106
DELISTED
Sealed Air
SEE
$1.23M 0.2%
+20,723
New +$1.12M
LEN icon
107
Lennar Class A
LEN
$19.8B
$1.23M 0.2%
12,762
+9,886
+344% +$955K
NNN icon
108
NNN REIT
NNN
$9.04B
$1.22M 0.2%
+25,909
New +$1.21M
ASO icon
109
Academy Sports + Outdoors
ASO
$2.94B
$1.21M 0.2%
+29,263
New +$1.03M
O icon
110
Realty Income
O
$59.6B
$1.2M 0.2%
+18,602
New +$1.22M
SPGI icon
111
S&P Global
SPGI
$121B
$1.18M 0.19%
2,884
+406
+16% +$156K
MO icon
112
Altria Group
MO
$114B
$1.18M 0.19%
24,794
-6,227
-20% -$306K
DGX icon
113
Quest Diagnostics
DGX
$25.7B
$1.15M 0.19%
+8,700
New +$1.14M
SCHW
114
Charles Schwab
SCHW
$183B
$1.14M 0.19%
15,608
+2,838
+22% +$201K
VXUS icon
115
Vanguard Total International Stock ETF
VXUS
$155B
$1.14M 0.19%
17,279
+92
+0.5% +$6.02K
LRCX icon
116
Lam Research
LRCX
$367B
$1.12M 0.18%
17,270
+2,350
+16% +$148K
MU icon
117
Micron Technology
MU
$930B
$1.12M 0.18%
13,224
+1,882
+17% +$159K
DISH
118
DELISTED
DISH Network Corp.
DISH
$1.12M 0.18%
+26,794
New +$1.13M
DKS icon
119
Dick's Sporting Goods
DKS
$17.5B
$1.1M 0.18%
+11,016
New +$987K
V icon
120
Visa
V
$684B
$1.1M 0.18%
+4,720
New +$1.08M
DVA icon
121
DaVita
DVA
$15.4B
$1.1M 0.18%
+9,100
New +$1.08M
RHI icon
122
Robert Half
RHI
$3.87B
$1.08M 0.18%
12,188
-38,660
-76% -$3.37M
BKNG icon
123
Booking.com
BKNG
$149B
$1.08M 0.18%
12,375
+1,700
+16% +$159K
CAG icon
124
Conagra Brands
CAG
$6.94B
$1.08M 0.18%
+29,751
New +$1.11M
DHI icon
125
D.R. Horton
DHI
$40B
$1.07M 0.18%
11,894
-40,527
-77% -$3.8M
3 4
5
6 7

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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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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.