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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
+11.75%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$1.43B
AUM Growth
+$72.6M
Cap. Flow
-$67.2M
Cap. Flow %
-4.68%
Top 10 Hldgs %
30.02%
Holding
534
New
24
Increased
339
Reduced
115
Closed
21

Top Buys

Rank Stock Value
1
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$1.66M
2
MSFT icon
Microsoft
MSFT
+$629K
3
VLTO icon
Veralto
VLTO
+$565K
4
PHM icon
Pultegroup
PHM
+$563K
5
DHI icon
D.R. Horton
DHI
+$536K

Top Sells

Rank Stock Value
1
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$26.9M
2
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.1M
3
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$8.98M
4
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$8.6M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.25M

Sector Composition

Rank Sector Weight
1 Technology 27.37%
2 Healthcare 12.03%
3 Financials 10.77%
4 Consumer Discretionary 10.06%
5 Communication Services 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CI icon
101
Cigna
CI
$72.7B
$3.24M 0.23%
10,808
-19
-0.2% -$5.55K
PGR icon
102
Progressive
PGR
$122B
$3.22M 0.22%
20,236
-32
-0.2% -$5.01K
ZTS icon
103
Zoetis
ZTS
$31.9B
$3.2M 0.22%
16,203
+115
+0.7% +$20.4K
TMUS icon
104
T-Mobile US
TMUS
$189B
$3.03M 0.21%
18,898
-107
-0.6% -$15.8K
KLAC icon
105
KLA
KLAC
$255B
$2.88M 0.2%
49,590
– –
BSX icon
106
Boston Scientific
BSX
$70.7B
$2.86M 0.2%
49,494
+401
+0.8% +$21.4K
FISV
107
Fiserv Inc
FISV
$29.3B
$2.77M 0.19%
20,881
-3
-0% -$368
VLO icon
108
Valero Energy
VLO
$88.5B
$2.67M 0.19%
20,512
-335
-2% -$42.6K
SO icon
109
Southern Company
SO
$107B
$2.63M 0.18%
37,571
+287
+0.8% +$19.7K
CME icon
110
CME Group
CME
$94.6B
$2.63M 0.18%
12,494
+92
+0.7% +$19.6K
DUK icon
111
Duke Energy
DUK
$97.1B
$2.6M 0.18%
26,751
+193
+0.7% +$17.6K
SHW icon
112
Sherwin-Williams
SHW
$87.7B
$2.59M 0.18%
8,318
-10
-0.1% -$2.69K
CDNS icon
113
Cadence Design Systems
CDNS
$94B
$2.57M 0.18%
9,451
+69
+0.7% +$17.8K
CSX icon
114
CSX Corp
CSX
$93.9B
$2.57M 0.18%
74,233
-56
-0.1% -$1.78K
ITW icon
115
Illinois Tool Works
ITW
$84.9B
$2.56M 0.18%
9,792
+34
+0.3% +$8.15K
BOXX icon
116
Alpha Architect 1-3 Month Box ETF
BOXX
$13.2B
$2.46M 0.17%
23,429
+15,909
+212% +$1.66M
BDX icon
117
Becton Dickinson
BDX
$46.7B
$2.44M 0.17%
10,021
+76
+0.8% +$18.7K
PYPL icon
118
PayPal
PYPL
$49.9B
$2.43M 0.17%
39,596
+2
+0% +$115
MOOD icon
119
Relative Sentiment Tactical Allocation ETF
MOOD
$132M
$2.41M 0.17%
90,449
+332
+0.4% +$8.53K
NOC icon
120
Northrop Grumman
NOC
$78.7B
$2.39M 0.17%
5,104
+18
+0.4% +$8.44K
WM icon
121
Waste Management
WM
$90.1B
$2.36M 0.16%
13,168
+43
+0.3% +$7.21K
DHI icon
122
D.R. Horton
DHI
$41.8B
$2.35M 0.16%
15,436
+4,350
+39% +$536K
CL icon
123
Colgate-Palmolive
CL
$73.4B
$2.34M 0.16%
29,333
+187
+0.6% +$14.1K
TGT icon
124
Target
TGT
$67.9B
$2.33M 0.16%
16,358
+51
+0.3% +$6.23K
MCK icon
125
McKesson
MCK
$97.4B
$2.32M 0.16%
5,005
-7
-0.1% -$3.18K
3 4
5
6 7

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BCM
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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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CF
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Empirical Finance's Q4 2023 Portfolio in Review

As of Q4 2023, Empirical Finance held 534 positions worth $1.43B, up 5.3% from $1.36B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Empirical Finance withdrew a net $67.2M in Q4 2023, closing 21 positions and reducing 115 holdings. Its most notable exit was iShares 0-3 Month Treasury Bond ETF, an estimated $26.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Empirical Finance opened a new position in Veralto worth $622K.

  • Empirical Finance's largest Q4 2023 buy was Veralto: 7,563 shares worth $622K.
  • Empirical Finance added most to Alpha Architect 1-3 Month Box ETF in Q4 2023, an estimated $1.66M increase.
  • Empirical Finance's biggest Q4 2023 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.1M.
  • Empirical Finance fully exited iShares 0-3 Month Treasury Bond ETF in Q4 2023, selling an estimated $26.9M.
  • Empirical Finance's ten largest holdings make up 30% of its $1.43B portfolio in Q4 2023.
  • Empirical Finance opened 24 new positions and closed 21 in Q4 2023.
  • Empirical Finance's portfolio value rose 5.3% quarter-over-quarter to $1.43B.

Based on Empirical Finance's 13F filing for Q4 2023, filed 14 Feb 2024.